Daryl Raiford, Chief Financial Officer of Bandwidth Inc. (NASDAQ:BAND), recently sold shares of the company valued at approximately $311,353. The transactions took place on November 29 and December 2, 2024, with prices ranging from $20.7009 to $22.015 per share. The stock, which has delivered an impressive 78% return over the past year and currently has a market capitalization of $580 million, appears undervalued according to InvestingPro analysis. This sale follows the vesting of Restricted Stock Units, as part of a pre-established trading plan to cover tax obligations related to equity compensation. After these transactions, Raiford holds a direct ownership of 93,451 shares in the company. InvestingPro data shows the company maintains a GOOD financial health score, with liquid assets exceeding short-term obligations. Discover 8 additional key insights about Bandwidth Inc. with an InvestingPro subscription, including detailed Fair Value analysis and growth projections.
In other recent news, Bandwidth Inc. has reported record revenue and Average Revenue Per User (ARPU) in its Q3 2024 earnings call. The enterprise cloud communications company announced a revenue of $194 million, marking a 28% increase, and a 74% rise in adjusted EBITDA to $24 million. The full-year revenue outlook has been raised to $742 million, indicating a 23% growth forecast, and the record ARPU reached $212,000. These recent developments are attributed to growth in direct enterprise customers, a rise in programmable communications services, and innovations in number reputation management and multichannel messaging. Despite a 7% increase in operating expenses due to investments in research and development, commercial messaging revenue grew by 32%. The net retention rate improved to 117%, with a 6 percentage point increase from the previous quarter. Bandwidth Inc. expects to continue its profit growth into the next year.
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