Bandwidth Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 28, 2024
BAND$43.57+4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net (loss) income | $(16,343) | $19,570 | $(27,362) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities | |||
| Depreciation and amortization | 41,717 | 35,599 | 36,642 |
| Non-cash reduction to the right-of-use asset | 9,323 | 6,977 | 5,722 |
| Amortization of debt discount and issuance costs | 2,520 | 3,082 | 26,754 |
| Stock-based compensation | 36,992 | 20,655 | 14,537 |
| Deferred taxes and other | (5,942) | (5,557) | (7,486) |
| Net gain on extinguishment of debt | (12,767) | (40,205) | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (3,454) | (13,341) | (6,711) |
| Prepaid expenses and other assets | 2,141 | (5,795) | (6,751) |
| Accounts payable | 5,385 | 17,210 | 1,992 |
| Accrued expenses and other liabilities | (10,592) | 4,291 | 9,693 |
| Operating right-of-use liability | (9,979) | (7,580) | (6,227) |
| Net cash provided by operating activities | 39,001 | 34,906 | 40,803 |
| Cash flows from investing activities | |||
| Purchase of property, plant and equipment | (9,257) | (41,661) | (17,686) |
| Deposits for construction in progress | — | (18,674) | (3,000) |
| Capitalized software development costs | (10,642) | (3,755) | (3,926) |
| Purchase of land | — | — | (30,017) |
| Proceeds from sale of land | — | — | 17,462 |
| Purchase of marketable securities | (80,625) | (179,598) | — |
| Proceeds from sales and maturities of marketable securities | 130,120 | 108,681 | — |
| Proceeds from sales and maturities of other investments | — | — | 40,000 |
| Proceeds from sale of business | 1,253 | 1,558 | — |
| Net cash provided by (used in) investing activities | 30,849 | (133,449) | 2,833 |
| Cash flows from financing activities | |||
| Payments on finance leases | (157) | (190) | (212) |
| Proceeds from issuance of convertible senior notes | — | — | 250,000 |
| Net cash paid for debt extinguishment | (51,259) | (117,286) | — |
| Purchase of Capped Call | — | — | (25,500) |
| Payment of Acquisition holdback | — | — | (6,689) |
| Payment of debt issuance costs | (710) | (553) | (7,544) |
| Proceeds from exercises of stock options | 413 | 163 | 926 |
| Value of equity awards withheld for tax liabilities | (1,062) | (2,139) | (3,954) |
| Net cash (used in) provided by financing activities | (52,775) | (120,005) | 207,027 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 610 | 881 | 189 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 17,685 | (217,667) | 250,852 |
| Cash, cash equivalents, and restricted cash, beginning of period | 114,622 | 332,289 | 81,437 |
| Cash, cash equivalents, and restricted cash, end of period | $132,307 | $114,622 | $332,289 |
| Reconciliation of cash, cash equivalents, and restricted cash, end of period | |||
| Cash and cash equivalents | $131,987 | $113,641 | $331,453 |
| Restricted cash included in prepaid expenses and other current assets | 320 | 981 | 836 |
| Total cash, cash equivalents, and restricted cash, end of period | $132,307 | $114,622 | $332,289 |
Consolidated Statements of Cash Flows
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosure of cash flow information | |||
| Cash (received from) paid for interest | $(1,500) | $18 | $1,476 |
| Cash paid for taxes | $7,203 | $3,932 | $1,999 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $156,025 | $3,421 | $526 |
| Supplemental disclosure of noncash investing and financing activities | |||
| Purchase of property, plant and equipment, accrued but not paid | $6,871 | $1,741 | $3,760 |
| Purchase of property and equipment through lease incentive | $57,329 | $5,791 | $4,677 |
| Purchase of property and equipment through use of escrow deposits | $20,674 | $— | $— |
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