‘Thanking God,’ Bandwidth CEO delivers a pep talk to Wall Street after ‘record results’

RALEIGH – Bandwidth CEO David Morken delivered a pep talk to Wall Street analaysts in discussing the communication provider’s quarterly financials on Thursday evening.

Encouraged by what he called “record results” as well as the pending acquisition of Voxbone, which was announced earlier this month, Morken opened by “thanking God” and praised his “Bandmates” – employees. Then he noted the Raleigh-based company is raising its guidance.

Here in his own words in a transcript provided by financial news site SeekingAlpha, Morken – who is very open about his Christian faith – talks up his business:

With so much good news to share, I need to begin by thanking God for the strength to seize the opportunities he has provided us. Together, our team delivered record results in the quarter. We are raising our annual revenue guidance substantially and we are acquiring Voxbone expanding into over 60 countries worldwide. To my Bandmates, thank you for your stamina and resilience during the season when enterprise communication is more vital than ever before. …

Bandwidth beats Street, delivers ‘strongest quarter ever,’ says CEO

During this quarter, enterprise demand for our software platform and network was higher than ever before. Our CPaaS revenue increased a record 43% year-over-year. This accelerating growth was driven by a diverse cross-section of customers expanding their usage of all our services.

Our unique combination of software platform, network and enterprise customer support resonates with enterprises operating at scale. Our extraordinary growth was also driven by messaging, which grew 164% year-over-year. This increase was powered by an unprecedented amount of political messaging traffic in the run up to next week’s U.S. presidential election. We proved to be an ideal choice for this group of customers to achieve industry-sanctioned high volume deliverability. Our messaging results were also bolstered by an expanding relationship from an innovative customer well known for point-of-sale solutions. This customer’s fast growing division, which gives users the ability to send, spend and store money, is driving increased messaging usage on our platform. …

In addition to expanding existing relationships, we continue to attract new enterprise customers to our platform. This quarter, we surpassed another milestone as we now serve more than 2,000 CPaaS [communications platform as a service] customers, an increase of 25% year-over-year.

Bandwidth to acquire UK-owned CaaS firm Voxbone, expand coverage to 60-plus countries

Our sales and marketing teams have executed well, on-boarding 115 net new customers in the quarter. While achieving record revenue growth and attracting new customers to our platform, we also continued to exceed our profitability goals. …

Last year, we started serving customers in Europe using our software-powered voice network. Earlier this month, we shared that we will soon be serving our customers around the globe with international cloud communications leader Voxbone joining our Band. …

This quarter, our team delivered greater results than ever before in our history. While we are acquiring one of the most impressive teams and businesses in and around the world, I am proud of all my amazing Bandmates, who with me remain humbled and grateful for the many opportunities afforded us during this season.

(Note: These remarks were slightly edited for length.)