Bandwidth Inc. announced its financial results for the first quarter ended March 31, 2025, reporting total revenue of $174.2 million, a 1.9% increase year-over-year. Cloud communications revenue was $133.5 million. The company's Non-GAAP Gross Margin improved to 59%, a 2 percentage point increase from the prior year.
Adjusted EBITDA for the quarter was $22.2 million, representing a 40% increase year-over-year. Bandwidth reported a net loss of $3.7 million, with a GAAP loss per share of $0.13 and Non-GAAP earnings per share of $0.36, surpassing analyst expectations. Free Cash Flow for the quarter was $(13.3) million.
Based on these results, Bandwidth raised its full-year 2025 revenue outlook to a range of $745 million to $760 million, reflecting 9% to 11% year-over-year growth when normalized for political campaign revenue. The Adjusted EBITDA outlook was also raised to $84 million to $91 million. For the second quarter of 2025, the company expects revenue between $178 million and $180 million and Adjusted EBITDA between $18 million and $20 million.
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