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Devin M. Krupka, the Controller and Principal Accounting Officer at Bandwidth Inc. (NASDAQ:BAND), recently reported selling shares of the company's Class A Common Stock. The transactions, conducted on January 3 and January 6, resulted in a total sale of 165 shares at prices ranging from $16.9682 to $17.3913 per share, amounting to approximately $2,850. The stock, currently trading at $17.47, has shown significant volatility according to InvestingPro data, with the company maintaining a healthy current ratio of 1.29.
The sales were made to cover tax obligations associated with the vesting of Restricted Stock Units (RSUs), as per a Rule 10b5-1 plan adopted by Krupka. Following these transactions, Krupka now holds 11,413 shares directly in the $479.5 million market cap company. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers what really matters about Bandwidth and 1,400+ other top stocks.
In other recent news, Bandwidth Inc. has reported record-breaking earnings and revenue results. The company announced a revenue of $194 million in Q3 2024, marking a 28% increase year-over-year, and an adjusted EBITDA increase of 74% to $24 million. Bandwidth also raised its full-year revenue outlook to $742 million, indicating a projected growth rate of 23%. Despite a 7% increase in operating expenses due to investments in research and development, the company's commercial messaging revenue grew by 32%.
In addition, Bandwidth has appointed Devesh Agarwal as its new Chief Operating Officer. Agarwal, who held the position on an interim basis since July 2024, brings considerable experience from his time at Oracle (NYSE:ORCL) and other large organizations. His responsibilities will include leading Bandwidth's strategic execution, engaging with global customers, driving innovation, and achieving operational excellence.
These recent developments underscore Bandwidth's growth trajectory, with the company expecting continued profit growth into the next year. Analysts anticipate that political campaign revenue will contribute significantly to cloud communications revenue, with $25 million anticipated in Q4. Bandwidth's focus on the quality and regulatory compliance of its vertically integrated platform, especially in AI use cases, is also noteworthy.
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