Enterprise cloud communications company Bandwidth witnessed a decline in overall revenues, year on year, for the 2021 second quarter, despite tremendous growth in the Communications Platform-as-a-Service (CPaaS) business.
Sales totaled $77 million, marking a 36 percent Y2Y decline from Q220 revenues of $121 million. Despite these estimates, Bandwidth noted that its CPaaS sales grew 57 percent Y2Y to $105 million, with its number of active CPaaS customers increasing 61 percent to 3,051 over the same period.
Bandwidth also posted losses of $20.6 million, or $0.86 per share.
“The continued successful execution of our long-term strategy is evident in the 57 percent year-over-year increase in CPaaS revenue, fueled by broad-based demand across all of our services and expanded global footprint,” noted Bandwidth CEO, David Morken. “This success is a testament to the power of Bandwidth’s global offering. Our global platform is proving to be a powerful differentiator for our existing customers and new customers alike in their journey to cloud communications, manifesting in cross-selling momentum, deepening customer relationships and new customer additions.”