Bandwidth Inc.

And welcome to the Bandwidth, Inc. first quarter 2023 earnings conference call. All participants will be in a listen-only mode for the duration of the call. And should you need any assistance during that time, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please also note that this event is being recorded today. I would now like to turn the conference over to Sarah Wallace, Vice President of Investor Relations. Please go ahead.

Thank you. Good afternoon and welcome to Bandwidth's first quarter 2023 earnings call. Today we'll discuss the results announced in our press release issued after the market closed. The press release and an earnings presentation with historical financial highlights can be found on the investor relations page at investors.bandwidth.com. With me on the call this afternoon is David Morkan, our CEO, and Darrell Rayford, our CFO. They will begin with prepared remarks, and then we will open up the call for Q&A. During the call, we will make statements related to our business that may be considered forward-looking. including statements concerning our financial guidance for the second quarter and full year of 2023. We caution you not to put undue reliance on these forward-looking statements as they may involve risks and uncertainties that may cause actual results to vary materially from any future results or outcomes expressed or implied by the forward-looking statements. Any forward-looking statements made on this call and in the presentation slides reflect our analysis as of today, and we have no plans or obligation to update them. For a discussion of material risks and other important factors that could affect our actual results, please refer to those contained in our latest 10-K filing as updated by other SEC filings, all of which are available on the Investor Relations section of our website at bandwidth.com and on the SEC's website at sec.gov. During the course of today's call, we will refer to certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our press release issued after the close of market today, as well as in the earnings presentation, which are located on our website at investors.bandwidth.com. With that, let me turn the call over to David.

Thank you, Sarah, and thanks to everyone for joining us. 2023 is off to a good start. We are making solid progress adding direct to enterprise customers, developing innovative award-winning products, and advancing our strategic initiatives while focusing on profitability. During the first quarter of the year, we exceeded our revenue guidance and are on target to meet our goal of growing profitability by 30% this year. I want to thank our customers. for continuing to trust us with their mission-critical communications. Thank you as well to all our bandmates around the world for supporting our customers and each other in selfless dedication to our mission. And I thank God for blessing us with a 24th year of extraordinary opportunities. We serve three distinct customer categories, global communications plans, programmable services, and direct-to-enterprise. This quarter, we highlight our growing momentum in the direct-to-enterprise market, where we power cloud contact centers and new developments in our software platform. In direct-to-enterprise, we won several Global 2000 financial services leaders that chose bandwidth as the voice provider for their contact centers during the quarter. Notably, each one deployed a different CCaaS platform while choosing our bandwidth communications cloud to power their communications stack. This shows how we're leveraging our strong relationships with all the Gartner leaders in cloud contact centers and the breadth and depth of our expansion in the enterprise contact center space. Among existing customers, we expanded our long-term relationship with the largest issuer of Visa and MasterCards in the United States. Using the bandwidth communications cloud, we helped this customer scale up its contact center capacity due to a recent acquisition. Additionally, This customer needed new international coverage to connect with employees in the Asia Pacific region. Because we seamlessly connected this customer across global geographies, we were awarded this new business. As these examples show, we're seeing measurable results by directly serving enterprise customers. We've grown over tenfold the number of enterprise contact centers utilizing the bandwidth communications cloud just in the last three years. Our significant expertise across numerous industry verticals comes from providing scalability, redundancy, pre-integrated conversational AI, and native fraud scoring technology, and is driving the largest enterprises to come directly to bandwidth to help build their cloud contact centers. Successful enterprise communication strategy is dynamic, and our strong culture of innovation keeps us ahead of, and shapes, the curve. For example, We integrated AI into our communications cloud over a year ago. That's because we've prioritized R&D from our very earliest days. For the last 24 years, in fact, innovation has been the foundation for all our growth and profitability. Bandwidth Maestro is the latest example, born from our close connection with enterprise CIOs, who now must connect their entire organizations to create better customer experiences while streamlining operations. Maestro integrates the best-in-class platforms and capabilities that CIOs need across UCaaS, CCaaS, and AI. It's truly a next-generation capability and customer experience, and it saves months of integration work, so enterprises can achieve faster time-to-revenue. Unlike the proprietary lock-in of other providers, Maestro maintains our platform-agnostic approach, providing flexibility to CIOs. We believe the value proposition and ROI of Maestro is unique in the CPaaS space. With full availability slated for later this year, the early market reaction to Maestro has been encouraging. In recognition of its excellence in technology advancement, innovation, and business impact, Maestro won Best of Show at Enterprise Connect. This is a substantial achievement. and it is already proving to energize conversations with both existing customers and prospects. Maestro joins other award-level innovations we've launched recently, like our native text messaging app for Microsoft Teams called SendTo, which recently won the Internet Telephony Product of the Year Award, and our backup solution for toll-free calling named CallAssure, which was a finalist in the prestigious CX Awards this past quarter. These are just a few examples of how our innovation engine and breadth of solutions are shaping the future of cloud communications for both new and existing enterprise customers. We're still in the early stage of a long-term secular trend of digital transformation that's becoming more and more dynamic by the day with emerging AI technologies, converging platforms, and exciting new use cases. We're focused on maximizing our direct-to-enterprise momentum, capitalizing on new innovations like Maestro, increasing product penetration across all three customer categories, and exploiting the competitive advantage of being the only CPaaS provider with our own global network, all while serving our customers and executing with discipline to grow profitably. I'll now turn it over to Daryl to walk through the details of our financial results.