Cloud communications revenue for 2025 was $561 million.

Segment Performance

Cloud communications revenue mix for 2025 was as follows:

• Global Voice Plans: 72% of cloud communications revenue, up 8% year over year.
• Enterprise Voice: 9% of cloud communications revenue, up 21% year over year.
• Programmable Messaging: 19% of cloud communications revenue, up 7% year over year, normalized for 2024 political campaign revenue.

Share Repurchase Program

The company’s Board of Directors authorized a share repurchase program of up to $80 million of its Class A common stock. Repurchases may be executed through open market transactions, privately negotiated trades, or other permitted methods, depending on market conditions.

2026 Outlook

Bandwidth issued the following guidance for full-year 2026:

• Revenue: $864 million to $884 million
• Adjusted EBITDA: $117 million to $123 million
• Non-GAAP EPS: $1.66 to $1.74

For the first quarter of 2026, the company expects revenue between $200 million and $203 million.

Management indicated the outlook reflects approximately 16% revenue growth and 29% Adjusted EBITDA growth for 2026.