secwatch.observer — SEC 8-K summary
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Issuer:     Bandwidth Inc. (BAND)
CIK:        0001514416
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001514416-23-000120
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bandwidth Q2 revenue $146M, adjusted EBITDA $11M beat guidance; secured $50M credit facility
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- Q2 revenue $146M (vs $136M YoY); adjusted EBITDA $11M (vs $5M YoY), both above guidance ranges.
- Non-GAAP gross margin 55% (vs 53% YoY); messaging revenue +11% YoY; dollar-based net retention 106%.
- Entered $50M revolving credit facility (maturity Aug 2028) with $25M accordion, secured by assets.
- Credit facility includes financial covenants: minimum EBITDA stepping up to $60M and minimum liquidity $75M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514416/000151441623000120/0001514416-23-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514416/000151441623000120/band-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001514416-23-000120

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer