Bandwidth Inc. announced record financial results for the fourth quarter and full year ended December 31, 2024. For the full year 2024, total revenue reached $748.49 million, a 25% increase year-over-year, with cloud communications revenue growing 13% to $540 million. The company achieved a record annual non-GAAP gross margin of 57% and saw Adjusted EBITDA increase substantially by 70% to $82 million. Free cash flow showed remarkable growth of 206%, reaching $59 million for the full year.
In the fourth quarter of 2024, revenue was $210 million, a 27% increase year-over-year, and Adjusted EBITDA was $23 million. The company reported a net loss of $1.8 million, with a GAAP loss per share of $0.06. Non-GAAP gross margin for the quarter was 58%.
For the full year 2025, Bandwidth provided guidance projecting revenue between $740 million and $760 million, representing 8% to 11% year-over-year growth when normalized for the expected cyclical reduction in political campaign messaging activity. Adjusted EBITDA is expected to be between $82 million and $90 million. First quarter 2025 guidance includes revenue of $168 million to $170 million and Adjusted EBITDA of $16 million to $18 million.
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