Filing Flows › Bandwidth (BAND) › Q4 2025
Bandwidth (BAND) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Bandwidth (BAND) reported revenue of $208M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and +8% from the quarter before. Operating margin was -1.9%, net loss $3.0M (1.4% of revenue).
Bandwidth, Q4 2025: revenue $208M (-1% year over year), operating margin -1.9%, net loss $3.0M, operating cash flow $38.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $208M | +8% | -1% |
| Operating profit | −$3.9M | — | — |
| Net earnings | −$3.0M | — | — |
| Operating cash flow | $38.6M | +74% | +6% |
| Free cash flow | $31.1M | — | +2% |
What changed
Revenue was $207.7M in Q4 2025, down 1% year over year and up 8% from the previous quarter.
Gross margin was 37.6%, up 1.2 points from a year earlier. Operating costs exceeded revenue by $3.9M, an operating margin of -1.9%. Operating expenses grew 4% against a revenue fall of 1%. The fastest-growing cost line was Research & development (+18%). The quarter ended with a net loss of $3.0M, wider than the previous quarter's $1.2M loss.
Operating cash flow was $38.6M (up 6% year over year). Non-cash charges added back $14.1M of depreciation and amortization and $13.9M of share-based compensation. Working capital and other items added $13.6M. After net cash used in investing in capital assets ($7.5M), free cash flow as the company reports it was $31.1M.
Questions
What was Bandwidth's revenue in the fourth quarter 2025?
Bandwidth (BAND) reported revenue of $208M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and +8% from the quarter before.
Was Bandwidth profitable in the fourth quarter 2025?
Operating loss was $3.9M (-1.9% of revenue) and net loss $3.0M.
Source: Bandwidth 10-K on SEC EDGAR.