Oct 29, 2026 earnings call — Bandwidth focuses on SI, enterprise wins and profitability
Record revenue of $234 million and record adjusted EBITDA of $35 million.
Revenue $0.2B (est $0.2B) · EPS $0.50 (est $0.47)
Key quotes
"Across the technology sector this year, the same questions keep coming up about super intelligence."
"Maestro's pre-built integrations and network-level security and fraud defenses are without equal, and they were a significant factor in winning a key $1 million+ financial services customer this quarter."
"Free cash flow was $33 million, showing another quarter of strong execution and earnings and cash generating power of our business."
Analyst Q&A 7
Guidance volumes and Salesforce ramp
Q (Joshua Reilly · Needham): He asked how the company decides what customer volumes to include in guidance and how conservative those assumptions are. He also asked expectations for domestic versus international revenue ramp from Salesforce.
A: They said their team is good at calibrating expected customer volumes and onboarding time frames, which has allowed accurate guidance in 2026. They said they are the first BYOC partner for Salesforce globally and expect their network plus Maestro to add to the international relationship.
"Our team has become very good at calibrating expected volumes from customers, as well as assessing the onboarding time frames, and that's what's allowed us to be quite accurate again in 2026 in providing the guidance that we have." — David Morken (CEO)
Enterprise Voice and software ARR growth
Q (Erik Suppiger · B. Riley): He asked whether Enterprise Voice will accelerate in fiscal 2027 and what growth to expect. He also asked if the $4 million sequential software ARR growth is a reasonable pace going forward.
A: They said that because 2027 is guided to be a double-digit cloud communications growth year, Enterprise Voice growth should be healthy and growing throughout 2027. They also said software services should continue to grow in the fourth quarter and into 2027 and that it is a leading indicator while still from a small base.
"When you look at what we've said about 2027 being a double-digit cloud communications growth year, then yes, you absolutely can assume Enterprise Voice growth rate will be healthy and growing during and throughout 2027." — David Morken (CEO)
How much of 2027 is already secured
Q (Koji Ikeda · BofA): He asked how much of 2027 communications growth is already secured by signed customers and what pipeline assumptions fill the rest. He also asked whether Salesforce could acquire a competitor and bring the capability in-house.
A: They said the vast majority of 2027 growth is already in hand, pointing to deals going back to last year and the now $17 million+ deals on top of the install base. They said they have good pipeline visibility, citing aggregated ACV greater than $30 million and almost $19 million of ACV from 11 customers in nine months, and they said the risk of Salesforce buying a competitor and replacing Bandwidth is effectively zero.
"the vast majority, Koji, is because of what we already have in hand, and that goes all the way back to the beginning of last year and the now $17 million+ deals on top of our install base." — David Morken (CEO)
Shape of 2027 growth and displacement
Q (Elizabeth Porter · Morgan Stanley): She asked whether 2027 growth will be steady or back-end loaded and where the company has the most cushion or upside. She also asked if more displacement of incumbents is occurring as enterprises adopt AI voice use cases.
A: They said customers ramp via sophisticated migration projects with deep capacity planning and co-developed plans. They said the slope into 2027 is reasonable and not heavily back-loaded. They added that displacement is occurring, most frequently away from long-time incumbents.
"It is not a back-loaded severe slope at all." — David Morken (CEO)
Consumer AI agents and persistent numbers
Q (Patrick Walravens · Citizens): He asked about enabling personal AI agents to have their own persistent phone numbers and about potential big increases in network usage.
A: They said Q3 was day one for consumer voice SI agents and that this use case is taking off across many SI voice agents. They said Bandwidth Build has allowed consumers to get numbers and that as agents scale they tend to come to Bandwidth for its platform and network, creating a new consumer frontier.
"Q3 was day one for consumer voice SI agents." — David Morken (CEO)
Agent-to-agent and Global Voice Plans
Q (Arjun Bhatia · William Blair): He asked whether agent-to-agent protocols will scale and what that means for Bandwidth as agents proliferate. He also asked if Global Voice Plans can re-accelerate into 2027 or if they face different dynamics than enterprise.
A: They said agent-to-agent protocols should and will emerge for lower-value, higher-volume transactions, while the highest-value exchanges will remain SI interacting with people, which favors the voice channel for mission-critical use. They said Global Voice Plans are a $50 million base exposed to contact center usage but also many sticky stable products, so near-term acceleration above market rates is unlikely while enterprise growth is the main focus.
"It's a $50 million base, and it's both exposed to growing usage across contact centers, as well as a fair amount of very sticky but stable product offerings." — Daryl Raiford (CFO)
Salesforce Agentforce CX ramp and 2027 bridge
Q (James Fish · Piper Sandler): He asked how the move to Agentforce CX affects ramping versus on-prem incumbents and how that impacts segments into 2027 and 2028. He asked for help bridging the math to hit double-digit cloud growth given the disclosed wins.
A: They said reaching the scale where Salesforce could be their largest customer requires a trajectory starting in 2027 and that both BYOC and native SI contact center paths are important and modeled. They also said 2027 assumptions do not rely only on a few large enterprise deals: net retention is steady in the double digits, there are many other wins below $1 million, and they have a large base of customers and products expected to keep growing.
"No, we have a very large base of customers, and we have a number of different product solutions, and we expect that to continue to demonstrate the growth that it has in the past." — Daryl Raiford (CFO)