Demonstrações financeiras detalhadas de Bandwidth Inc. (BAND): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Bandwidth Inc. registou receitas de $753.8M no último exercício, com um CAGR de 5 anos de 17.0%.
Margens dos últimos 12 meses: margem bruta 37.2%, margem operacional -1.8%, margem líquida 0.3%.
Ao preço atual de $48.93, BAND apresenta lucros negativos (P/L não significativo) e um ROE de -3.23%. A capitalização de mercado é de $1.6B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $152.1M | $163.0M | $204.1M | $232.6M | $343.1M | $490.9M | $573.2M | $601.1M | $748.5M | $753.8M |
| Custo da Receita | $85.2M | $89.3M | $108.1M | $125.0M | $185.3M | $272.4M | $334.8M | $365.0M | $468.5M | $458.8M |
| Lucro Bruto | $66.9M | $73.7M | $96.0M | $107.6M | $157.9M | $218.5M | $238.4M | $236.2M | $280.0M | $295.1M |
| P&D | $8.5M | $10.8M | $20.9M | $31.5M | $42.1M | $55.2M | $98.0M | $104.2M | $118.6M | $132.5M |
| Despesas Gerais e Administrativas | $43.2M | $48.3M | $68.3M | $93.9M | $129.3M | $165.6M | $164.7M | $167.4M | $181.4M | $176.9M |
| Despesas Operacionais | $51.7M | $59.1M | $89.2M | $125.3M | $171.4M | $220.8M | $262.7M | $271.6M | $300.0M | $309.4M |
| Lucro Operacional | $15.2M | $14.6M | $6.8M | -$17.7M | -$13.5M | -$2.2M | -$24.3M | -$35.5M | -$20.1M | -$14.4M |
| EBITDA | $21.4M | $20.3M | $12.6M | -$3.9M | $8.1M | $39.8M | $62.9M | $32.5M | $42.1M | $39.2M |
| Despesas com Juros | $908000 | $1.7M | $301000 | 0 | $16.4M | $28.8M | $3.0M | $808000 | $1.9M | $2.0M |
| Lucro Antes de Impostos | $14.3M | $12.9M | $7.1M | -$15.2M | -$29.0M | -$31.2M | $17.3M | -$19.3M | -$9.0M | -$16.6M |
| Imposto | -$11.1M | $6.9M | -$10.9M | -$17.7M | $15.0M | -$3.8M | -$2.3M | -$3.0M | -$2.4M | -$3.7M |
| Lucro Líquido | $22.4M | $6.0M | $17.9M | $2.5M | -$44.0M | -$27.4M | $19.6M | -$16.3M | -$6.5M | -$12.9M |
| LPA | $1.43 | $0.42 | $0.85 | $0.11 | $-1.83 | $-1.09 | $0.77 | $-0.64 | $-0.24 | $-0.43 |
| LPA Diluído | $1.33 | $0.37 | $0.85 | $0.10 | $-1.83 | $-1.09 | $0.63 | $-0.64 | $-0.24 | $-0.43 |
| Ações em Circulação (Diluídas) | $14.6M | $14.5M | $21.1M | $23.9M | $24.1M | $25.1M | $30.9M | $25.6M | $27.2M | $30.0M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $191.9M | $207.7M | $208.8M | $219.9M |
| Lucro Bruto | $73.8M | $78.1M | $77.9M | $78.5M |
| Lucro Operacional | -$2.0M | -$3.9M | -$4.6M | -$4.6M |
| EBITDA | $10.8M | $10.1M | $12.8M | $18.3M |
| Lucro Líquido | -$1.2M | -$3.0M | $4.1M | $2.4M |
| LPA | $-0.04 | $-0.10 | $0.13 | $-0.07 |
| LPA Diluído | $-0.04 | $-0.10 | $-0.08 | $-0.07 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $6.8M | $37.6M | $41.3M | $185.0M | $72.2M | $331.5M | $113.6M | $132.0M | $81.8M | $103.2M |
| Investimentos de Curto Prazo | 0 | 0 | $17.4M | 0 | $40.0M | 0 | $71.2M | $21.5M | $2.0M | $8.5M |
| Contas a Receber | $16.8M | $21.2M | $24.0M | $30.2M | $55.2M | $61.6M | $74.5M | $78.2M | $86.5M | $91.4M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $28.0M | $65.3M | $91.4M | $224.4M | $193.6M | $412.9M | $279.6M | $252.8M | $187.8M | $214.2M |
| Imobilizado | $11.2M | $14.9M | $25.1M | $62.7M | $71.1M | $83.7M | $109.7M | $335.4M | $330.4M | $327.2M |
| Ágio | $6.9M | $6.9M | $6.9M | $6.9M | $372.2M | $344.4M | $326.4M | $335.9M | $317.2M | $356.8M |
| Ativos Intangíveis | $8.5M | $7.6M | $7.1M | $6.6M | $248.1M | $211.2M | $177.4M | $166.9M | $145.4M | $138.7M |
| Ativos Totais | $70.0M | $104.5M | $150.4M | $353.5M | $890.6M | $1.07B | $929.3M | $1.10B | $989.2M | $1.12B |
| Contas a Pagar | $4.7M | $3.0M | $3.4M | $4.2M | $11.7M | $9.1M | $26.8M | $34.2M | $28.4M | $42.6M |
| Dívida de Curto Prazo | $7.1M | $92000 | 0 | $4.9M | 0 | 0 | 0 | 0 | 0 | $11.6M |
| Passivos Circulantes | $30.5M | $24.5M | $32.7M | $45.7M | $92.2M | $93.5M | $114.0M | $122.8M | $140.3M | $154.1M |
| Dívida de Longo Prazo | $37.7M | 0 | 0 | 0 | $282.2M | $486.4M | $480.5M | $418.5M | $281.3M | $468.6M |
| Passivos Totais | $70.5M | $27.8M | $41.6M | $83.4M | $460.7M | $652.9M | $657.1M | $803.7M | $676.6M | $720.2M |
| Reservas | -$31.7M | -$25.8M | -$7.8M | -$5.5M | -$49.5M | -$76.9M | -$48.5M | -$64.9M | -$71.4M | -$84.3M |
| Patrimônio Líquido | -$556000 | $76.7M | $108.8M | $270.1M | $429.9M | $412.6M | $272.2M | $297.4M | $312.5M | $400.0M |
| Dívida Total | $44.8M | $92000 | 0 | $24.7M | $304.9M | $503.2M | $492.6M | $644.5M | $503.6M | $701.2M |
| Dívida Líquida | $38.1M | -$37.5M | -$58.7M | -$160.3M | $192.8M | $171.8M | $307.8M | $491.1M | $419.8M | $589.5M |
| Capital de Giro | -$2.4M | $40.7M | $58.7M | $178.6M | $101.4M | $319.4M | $165.6M | $130.0M | $47.5M | $60.2M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $73.4M | $103.2M | $47.3M | $169.90B |
| Ativos Totais | $1.03B | $1.12B | $984.2M | $1.10T |
| Passivos Totais | $640.6M | $720.2M | $578.5M | $723.26B |
| Patrimônio Líquido | $392.7M | $400.0M | $405.7M | $378.17B |
| Dívida Total | $479.6M | $701.2M | $423.2M | $554.42B |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $25.4M | $6.0M | $17.9M | $2.5M | -$44.0M | -$27.4M | $19.6M | -$16.3M | -$6.5M | -$12.9M |
| Depreciação e Amortização | $6.1M | $5.7M | $5.8M | $13.8M | $21.6M | $36.6M | $35.6M | $41.7M | $49.2M | $57.1M |
| Compensação em Ações | $1.4M | $1.8M | $3.3M | $6.6M | $9.9M | $14.5M | $20.7M | $37.0M | $48.4M | $52.3M |
| Variação Capital de Giro | -$5.7M | -$5.5M | $8.3M | -$6.6M | -$13.2M | -$8.0M | -$5.2M | -$16.5M | $3.2M | -$5.2M |
| Fluxo de Caixa Operacional | $5.2M | $14.6M | $24.6M | -$1.3M | $4.5M | $40.8M | $34.9M | $39.0M | $83.9M | $89.5M |
| CapEx | -$6.1M | -$8.0M | -$14.4M | -$25.8M | -$14.6M | -$54.6M | -$64.1M | -$19.9M | -$14.0M | -$22.3M |
| Aquisições | 0 | 0 | $2.0M | $3.5M | -$400.5M | $17.5M | $1.6M | $1.3M | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | -$25.5M | 0 | 0 | 0 | 0 |
| Dividendos Pagos | -$30.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$907000 | $6.7M | $10.2M | -$27.0M | -$10.1M | -$13.8M | -$29.2M | $19.1M | $69.9M | $67.2M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $22.2M | $38.6M | $8.8M | $28.8M |
| CapEx | -$6.2M | -$7.5M | -$7.1M | -$5.0M |
| Fluxo de Caixa Livre | $16.0M | $31.1M | $1.7M | $23.7M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $12.3M | $13.9M | $13.0M | $12.6M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +7.1% | +25.3% | +14.0% | +47.5% | +43.1% | +16.8% | +4.9% | +24.5% | +0.7% |
| Crescimento Lucro Líquido (anual) | | -73.3% | +200.2% | -86.1% | -1863.3% | +37.8% | +171.5% | -183.5% | +60.1% | -97.9% |
| Crescimento LPA (anual) | | -70.6% | +102.4% | -87.1% | -1763.6% | +40.4% | +170.6% | -183.1% | +62.5% | -79.2% |
| Variação de Ações (anual) | | -0.2% | +45.4% | +13.2% | +0.7% | +4.1% | +23.2% | -17.1% | +6.2% | +10.2% |
| Crescimento FCF (anual) | | +834.3% | +52.9% | -365.2% | +62.7% | -37.2% | -111.1% | +165.5% | +265.9% | -3.8% |
| Margem Bruta | 44.0% | 45.2% | 47.0% | 46.3% | 46.0% | 44.5% | 41.6% | 39.3% | 37.4% | 39.1% |
| Margem Operacional | 10.0% | 9.0% | 3.3% | -7.6% | -3.9% | -0.5% | -4.2% | -5.9% | -2.7% | -1.9% |
| Margem EBITDA | 14.1% | 12.5% | 6.2% | -1.7% | 2.4% | 8.1% | 11.0% | 5.4% | 5.6% | 5.2% |
| Margem Líquida | 14.7% | 3.7% | 8.8% | 1.1% | -12.8% | -5.6% | 3.4% | -2.7% | -0.9% | -1.7% |
| Margem FCF | -0.6% | 4.1% | 5.0% | -11.6% | -2.9% | -2.8% | -5.1% | 3.2% | 9.3% | 8.9% |
| Taxa Efetiva de Imposto | -77.4% | 53.7% | -154.1% | 116.4% | -51.8% | 12.3% | -13.1% | 15.3% | 27.1% | 22.2% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-0.06 | $0.46 | $0.48 | $-1.13 | $-0.42 | $-0.55 | $-0.94 | $0.75 | $2.57 | $2.24 |
| Dividendo por Ação | $2.06 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $13.6M | $12.6M | $21.1M | $22.6M | $24.1M | $25.1M | $25.3M | $25.6M | $27.2M | $30.0M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | -3.23% |
| Retorno sobre capital investido | -1.14% |
| Retorno sobre ativos | -1.15% |
| Margem bruta | 37.23% |
| Margem operacional | -1.82% |
| Margem líquida | 0.27% |
Saúde financeira
| Dívida / Patrimônio | 1.47 |
| Liquidez corrente | 2.04 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 0.98 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 13.99 | 55.05 | 47.94 | 582.27 | -83.97 | -65.83 | 29.81 | -22.61 | -70.92 | -35.93 |
| P/VP | -488.55 | 3.79 | 7.90 | 5.37 | 8.61 | 4.36 | 2.13 | 1.25 | 1.48 | 1.16 |
| P/V | 1.79 | 1.79 | 4.21 | 6.23 | 10.79 | 3.67 | 1.01 | 0.62 | 0.62 | 0.61 |
| Margem Bruta | 44.0% | 45.2% | 47.0% | 46.3% | 46.0% | 44.5% | 41.6% | 39.3% | 37.4% | 39.1% |
| Margem Operacional | 10.0% | 9.0% | 3.3% | -7.6% | -3.9% | -0.5% | -4.2% | -5.9% | -2.7% | -1.9% |
| Margem Líquida | 14.7% | 3.7% | 8.8% | 1.1% | -12.8% | -5.6% | 3.4% | -2.7% | -0.9% | -1.7% |