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Bandwidth, Inc. BAND Messaging surcharges — Revenue

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MRTNRevenue Net Of Fuel Surcharge — Revenue
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Other financials

Income statement

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Revenue$219.9M+22.2%
Gross profit$78.5M+9.6%
Operating income-$4.6M-21.5%
Net income$2.4M+148%
EPS (diluted)-$0.07+56.3%

Balance sheet

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Cash & equivalents$170.2M+182%
Total debt$554.4M+15.5%
Total equity$378.2M-1.7%
Total assets$1.1B+7.7%

Cash flow

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Operating cash flow$28.8M-9.3%
CapEx$2.6M-26.4%
Free cash flow$26.1M-7.1%

Valuation

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Market cap$1.44B+248%
Enterprise value$1.82B+119%
P/E635.2×
P/S1.7×+1.2×

Profitability

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Gross margin37.2%-1.4pp
Operating margin-1.8%+0.3pp
Net margin0.3%+0.1pp
FCF margin9.3%+0.4pp

Returns & leverage

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Return on equity0.6%+0.3pp
Debt / equity1.5×+0.2×
Current ratio+0.7×

Where this comes from

Reported directly by Bandwidth, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Bandwidth, Inc.’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 7:39 AM EST
Fiscal year
FY2025
Accession
0001514416-26-000017
Line itemYear ended December 31, 2025Year ended December 31, 2024Year ended December 31, 2023
Cloud communications$561,379$539,753$478,892
Messaging surcharges192,438208,734122,225
Total revenue$753,817$748,487$601,117

Item 8. Financial Statements and Supplementary Data

FAQ

What is Bandwidth, Inc.'s messaging surcharges — revenue?
Bandwidth, Inc. (BAND) reported messaging surcharges — revenue of $48.11M in Q4 2025.
How has Bandwidth, Inc.'s messaging surcharges — revenue changed year-over-year?
Bandwidth, Inc.'s messaging surcharges — revenue decreased by 7.8% year-over-year, from $52.18M to $48.11M.
What is the long-term trend for Bandwidth, Inc.'s messaging surcharges — revenue?
Over 4 years (2021 to 2025), Bandwidth, Inc.'s messaging surcharges — revenue has grown at a 47.0% compound annual growth rate (CAGR), from $41.25M to $192.44M.
What does messaging surcharges — revenue mean?
This metric represents the revenue generated from fees applied to messaging traffic, typically covering regulatory, carrier, or compliance-related costs passed through to customers. It reflects the company's ability to monetize the underlying infrastructure and regulatory complexities of its messaging platform services. Growth in this segment indicates increasing messaging volume or changes in the cost-recovery structure of the communications platform.

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