Bandwidth Inc-A 2025年季度报告

Washington, D.C. 20549 FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune 30, 2025 For the transition period fromtoCommission File Number:001-38285BANDWIDTH INC.(Exact name of registrant as specified in its charter) 2230 Bandmate WayRaleigh,NC27607(Address of principal executive offices) (Zip Code) (800)808-5150(Registrant’s telephone number, including area code) Securities Registered Pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements forthe past 90 days.YesxNo☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).YesxNo☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Accelerated filerSmallerreportingcompanyEmerginggrowthcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of July25, 2025,28,183,017shares of the registrant’s ClassA common stock and1,958,028shares of the registrant’s ClassB common stock wereoutstanding. Table of Contents Special Note Regarding Forward-Looking Statements PART I - FINANCIAL INFORMATION Item1.Financial StatementsUnaudited Condensed Consolidated Balance Sheets as ofJune 30, 2025 and December 31, 2024Unaudited Condensed Consolidated Statements of Operations for the Threeand SixMonths EndedJune30, 2025 and 2024Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) for the Threeand SixMonths EndedJune 30, 2025 and 2024Unaudited Condensed Consolidated Statements of Changes in Stockholders’EquityUnaudited Condensed Consolidated Statements of Cash Flows for theSixMonths EndedJune 30, 2025and 2024Notes to Unaudited Condensed Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II - OTHER INFORMATION Item1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem6.ExhibitsSignatures Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of theSecurities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended(the “Exchange Act”). All statements contained in this Quarterly Report on Form 10-Q, other than statements of historical fact, areforward-looking statements. Forward-looking statements generally can be identified by the words “may,” “will,” “expect,”“believe,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “estimate,” or “continue,” or the negative of these words orother similar terms or expressions that concern our expectations strategy, plans or intentions. Forward-looking statementscontained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: •our beliefs regarding the impact of macroeconomic conditions, including inflationary and/or recessionary pressures, onour business and financial condition;•our ability to attract and retain customers, including large enterprises;•our approach to identifying, attracting and keeping new and existing customers, as well as our expectations regardingcustomer turnover;•our beliefs regarding network traffic growth and other trends related to the usage of our products and services;•the impact of our customers’ violation of applicable laws, our policies or other misuse of our platform;•our ability to successfully defend our network, systems and data against ever-evolving cybersecurity threats, includingdenial-of-service and ransomware attacks;•our expectations regarding revenue, costs, expenses, gross margin, net retention rate, Adjusted EBITDA, non-generallyaccepted accountin