Software company Bandwidth reported an adjusted loss for the third quarter of 2019 that was better than analysts’ expectations, the company said in a Wednesday press release.

Bandwidth reported an adjusted loss of $1.4 million, or 6 cent loss per share, beating analysts’ estimates of an adjusted loss of $3.49 million or 15 cents loss per share, according to Bloomberg data.

Bandwidth expects the adjusted loss per share to be in the range of 15 to 17 cents per share in the fourth quarter.

This quarter’s loss is slightly higher than the $1 million adjusted loss, or 5 cent loss per share in the same quarter of 2018.

The company grew its active CPaaS customers to 1,610, from 1,155 in the third quarter of 2018, a 39 percent increase. CPaaS revenue subsequently increased 24 percent from the same quarter of 2018 to $51.5 million, with $9 million from other revenue sources contributing to total revenue of $60.5 million.

CEO David Morken said the company is optimistic about upcoming growth opportunities.

“We believe our value proposition is strong and are pleased with our progress in driving adoption of our highly scalable platform of flexible APIs, our vertically integrated nationwide IP voice network that we built and operate, and our unique 911 capabilities,” Morken said.

Bandwidth is a Raleigh-based software company that sells application programming interfaces o easily embed voice, messaging and 9-1-1 access into software and applications.

Shares of Bandwidth were trading at $48.54 Thursday afternoon, down $6.91.