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Bandwidth cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$35.0M in Q3 2026 · $96.4M over twelve months

Operating cash flow$37.7M
Capital spending−$2.7M
Free cash flow+$35.0M
Cash / net income7.2×
Cash conversion cycle17 days

Analysis

In Q3 2026, Bandwidth generated $37.7M of operating cash flow and spent $2.7M on capital projects, leaving free cash flow of $35.0M. That is $19.0M more than in Q3 2025 ($16.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $114M; the largest uses were capital spending ($17.5M), other investing ($6.6M), taxes on employees’ shares ($5.4M); besides operations, cash came from other financing ($15.5M); the cash balance rose by $98.0M.

Operating cash flow was $37.7M against net income of $5.2M — 7.2× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities +$18.7M, depreciation & amortization +$17.5M, stock-based pay +$13.5M.

Its cash conversion cycle was 17 days (receivables 45 + inventory 0 − payables 28).

Free cash flow

Bandwidth: free cash flow by quarterBandwidth: free cash flow by quarter$33.2MQ4 2024−$10.5MQ1 2025$28.2MQ2 2025$16.0MQ3 2025$33.5MQ4 2025$1.7MQ1 2026$26.1MQ2 2026$35.0MQ3 2026
Operating cash flow less capital spending.
Bandwidth: operating cash flow against capital spendingBandwidth: operating cash flow against capital spendingOperating cash flowCapital spending$36.5M$3.4MQ4 2024−$3.1M$7.4MQ1 2025$31.7M$3.6MQ2 2025$22.2M$6.2MQ3 2025$38.6M$5.1MQ4 2025$8.8M$7.1MQ1 2026$28.8M$2.6MQ2 2026$37.7M$2.7MQ3 2026
Latest (Q3 2026): Operating cash flow $37.7M, Capital spending $2.7M.

Capital allocation, year by year

Bandwidth: where the cash came from (up) and went (down), by fiscal yearBandwidth: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $40.8MFY2021: Net borrowing $250MFY2021: Shares issued $926KFY2021: Capital spending −$17.7M$292MFY2021FY2022: Operating cash flow $34.9MFY2022: Net borrowing −$190KFY2022: Shares issued $163KFY2022: Asset sales $1.6MFY2022: Capital spending −$41.7M$36.6MFY2022FY2023: Operating cash flow $39.0MFY2023: Net borrowing −$157KFY2023: Shares issued $413KFY2023: Asset sales $1.3MFY2023: Capital spending −$9.3M$40.7MFY2023FY2024: Operating cash flow $83.9MFY2024: Net borrowing −$87KFY2024: Shares issued $167KFY2024: Asset sales $779KFY2024: Capital spending −$14.0M$84.8MFY2024FY2025: Operating cash flow $89.5MFY2025: Net borrowing −$28.5MFY2025: Shares issued $109KFY2025: Asset sales $361KFY2025: Capital spending −$22.3M$90.0MFY2025
Over these 5 years operating cash flow totalled $288M; the largest uses were capital spending ($105M) and net borrowing ($28.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$176M
Debt$311M
Net debt$135M

Bandwidth funds itself: free cash flow was $96.4M over the last twelve months, and $176M of cash and investments stands against $311M of debt.

Where the cash came from and went

Bandwidth: sources (+) and uses (−) of cash, Q3 2026Bandwidth: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$37.7MOther financing−$20.8MBuybacks−$10.0MCapital spending−$2.7MOther investing−$2.0MCash drawn (+) / kept (−)−$1.5MExchange rates−$494KTaxes on employees’ shares−$188K
Bandwidth: sources (+) and uses (−) of cash, TTM to Q3 2026Bandwidth: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$114MCash drawn (+) / kept (−)−$98.0MCapital spending−$17.5MOther financing$15.5MOther investing−$6.6MTaxes on employees’ shares−$5.4MExchange rates−$1.8M

From profit to cash

Bandwidth: net income to operating cash flow, Q3 2026Bandwidth: net income to operating cash flow, Q3 2026Net income$5.2MDepreciation & amortization$17.5MStock-based pay$13.5MReceivables−$7.9MPayables−$8.5MAccrued liabilities$18.7MPrepaid and other assets$1.8MOperating cash flow$37.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202645—2817
Q2 202644—2618
Q1 202642—2616
Q4 202541—2714
Q3 202544—2222
Q2 202545—1629
Q1 202545—2025
Q4 202441—1724

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$37.7M−$2.7M−$10.0M——−$1.5M$35.0M
Q2 2026$28.8M−$2.6M−$15.0M−$50.5M—−$123M$26.1M
Q1 2026$8.8M−$7.1M−$5.0M$50.5M—$55.7M$1.7M
Q4 2025$38.6M−$5.1M—−$20K$29K−$29.5M$33.5M
Q3 2025$22.2M−$6.2M—−$16K$34K−$13.3M$16.0M
Q2 2025$31.7M−$3.6M—−$15K$37K−$24.2M$28.2M
Q1 2025−$3.1M−$7.4M—−$15K$9K$46.1M−$10.5M
Q4 2024$36.5M−$3.4M—−$25.0M$39K−$7.0M$33.2M

Bandwidth: income statement and cash flow

Bandwidth, Q3 2026: revenue $234M (+22% year over year), operating margin 0.8%. The chart follows the revenue to costs, profit and cash.

Bandwidth: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.