Skip to content
AnalystLens

TwilioTWLO

Legal name
Twilio Inc.
Sector
Technology
Industry
Services-Prepackaged Software
Exchange
NYSE

Stock Price $TWLO

Latest filings

You are here#63 of 91 in Technology by market cap

Filing record · 2016–202610-K1110-Q328-K108

TWLO filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 108 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Feb ’19Feb ’19
  2. Leadership change8-K · Mar ’21Mar ’21
  3. Leadership change8-K · Feb ’23Feb ’23
  4. FY2024 annual report10-K · Feb ’25Feb ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  12. $5.07B
YoY changeLargest recent move+74.5%in FY19Latest +13.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All TWLO Financial Metrics57 metrics

Income Statement17

Balance Sheet24

Cash Flow12

Per Share4

02—Overview

Twilio Financial Overview 2021–2025

Updated Nov 4, 2026

Twilio's stock closed FY2025 at $142.24a, a 677.3x multiple of its $0.21 in diluted earnings per share. That figure matters because GAAP profit has only just arrived. The central claim is that Twilio has shifted from burning cash for growth to generating it at scale, and the market is pricing the cash flow and margin trajectory, not the thin earnings.

The long-term arc is stark. Revenue grew from $2.84 billion in FY2021 to $5.07 billionb in FY2025, while the net loss of $949.9 million became net income of $33.8 million. Operating cash flow went from negative $58.2 million to roughly $1.00 billion. In FY2025, revenue rose 14%, operating income hit $157.8 million against a $53.7 million loss in FY2024, and free cash flow reached $945.4 million, a 19% margin, up from $657.5 million. Gross margin slipped to 49% from 51% as carrier A2P messaging fees were passed through. The company repurchased $854.6 million of stock in FY2025.

Valuation at the FY2025 close put market capitalization at $21.7Bc. Against that, Twilio ended the year with $682.3 million in cash, $1.8 billion in short-term marketable securities and $1.0 billion of senior notes. Momentum carried into Q3 2026, when revenue grew 20% to $1.56 billion and free cash flow reached $369.6 million.

Recent Developments (Q2 and Q3 2026)

Twilio's Q2 2026 brought a one-time $944.1 milliond tax benefit from releasing most of its U.S. valuation allowance, lifting GAAP EPS to $6.68. Underlying results were also strong. Q2 revenue rose 22% (17% organic), and DBNE hit 116%. Q3 2026 GAAP operating income rose 263% to $149 million, and non-GAAP operating margin reached 21%. Management raised full-year guidance twice, to 20% reported growth and $1.19 billion to $1.20 billion of free cash flow. A $32.8 million impairment tied to two network providers was a one-off cost.

Bull case: organic growth of 16% and rising margins show the business scaling profitably. Bear case: at 976.3x trailing earnings as of the Q3 2026 report date (October 29, 2026), the $31.2 billione valuation leaves little room for error, and organic growth is guided down to 11% to 12% in Q4.

What to watch: Q4 organic growth against the 11% to 12% guide; gross margin as A2P pass-through fees grow

03—Filings

Recent SEC Filings

  1. 8-KTwilio 8-K Report, Financial Results (Oct 29, 2026)Twilio Inc. reported third quarter 2026 results for the quarter ended September 30, 2026, in a press release furnished as Exhibit 99.1 to this Form 8-K under Item 2.02. Revenue was $1.56 billion, up 20% year-over-year on a reported basis and 16% on an organic basis. GAAP income from operations was $149 million, up 263% year-over-year, and non-GAAP income from operations was $326 million, up 39%. GAAP diluted net income per share was $1.00, compared with $0.23 a year earlier, and non-GAAP diluted net income per share was $1.65, compared with $1.25. Net cash provided by operating activities was $389.2 million and free cash flow was $369.6 million. The company raised its full-year 2026 outlook. Reported revenue growth is now expected to be 20%, up from 18% to 18.5%, and organic revenue growth 15%, up from 13% to 13.5%. Non-GAAP income from operations and free cash flow are each now expected to be $1.19 billion to $1.20 billion, up from $1.135 billion to $1.155 billion. For the fourth quarter, Twilio initiated revenue guidance of $1.595 billion to $1.605 billion, implying 17% to 17.5% reported growth and 11% to 12% organic growth, with non-GAAP income from operations of $300 million to $310 million and non-GAAP diluted EPS of $1.48 to $1.53. Dollar-Based Net Expansion Rate was 114% for the quarter, compared with 109% a year earlier. During the quarter Twilio repurchased $127.2 million of Class A common stock. Cumulative repurchases under the January 2025 authorization total approximately $1.3 billion, leaving approximately $700 million available, with the program set to expire on December 31, 2027. The company reported 5,625 employees as of September 30, 2026.
  2. 8-KTwilio 8-K Report, Financial Results (Aug 6, 2026)Twilio Inc. (NYSE: TWLO) reported second quarter 2026 results for the quarter ended June 30, 2026, in a press release furnished as Exhibit 99.1. Revenue was $1.50 billion, up 22% year-over-year and up 17% on an organic basis. GAAP income from operations was $84.5 million, up 129% year-over-year, while non-GAAP income from operations was $284.6 million, up 29%. GAAP diluted net income per share was $6.68, which included a non-cash benefit of $5.91 per share from the release of a significant portion of the valuation allowance against U.S. deferred tax assets. Non-GAAP diluted EPS was $1.47, compared with $1.19 in the second quarter of 2025. Cash generation was strong, with net cash provided by operating activities of $372.4 million and free cash flow of $352.6 million. Dollar-Based Net Expansion Rate was 116%, compared with 108% a year earlier. During the quarter Twilio repurchased $66.0 million of Class A common stock, and $826.0 million remained available under its $2.0 billion repurchase authorization as of June 30, 2026. For the third quarter of 2026, Twilio guided to revenue of $1.505 to $1.515 billion (16% to 16.5% reported growth; 11% to 12% organic growth) and non-GAAP income from operations of $285 to $295 million. Full-year 2026 guidance was raised: reported revenue growth to 18% to 18.5% (from 14% to 15%), organic revenue growth to 13% to 13.5% (from 9.5% to 10.5%), and non-GAAP income from operations and free cash flow each to $1.135 to $1.155 billion (from $1.08 to $1.10 billion).
  3. 8-KTwilio 8-K Report, Executive Changes (Jun 17, 2026)Twilio Inc. filed this Current Report on Form 8-K to report the results of its 2026 Annual Meeting of Stockholders, held June 16, 2026. Holders of 131,137,989 shares of Class A Common Stock, representing 86.40% of the voting power of the Class A Common Stock outstanding and entitled to vote as of the April 17, 2026 record date, were present in person or by proxy, which constituted a quorum. Stockholders voted on five proposals, and the filing reports that all five were approved or ratified. The most consequential actions for shareholders are the approval of the Amended and Restated 2016 Stock Option and Incentive Plan and the Amended and Restated 2016 Employee Stock Purchase Plan. The equity plan received 88,949,992 votes for and 30,250,610 against, with 91,571 abstentions and 11,845,816 broker non-votes. The employee stock purchase plan received 118,850,839 votes for and 398,239 against, with 43,095 abstentions and 11,845,816 broker non-votes. The plans are described in the Company's April 28, 2026 proxy statement, and their full texts are filed as Exhibits 10.1 and 10.2. Stockholders also re-elected four Class I directors, ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, and approved, on a non-binding advisory basis, the compensation of the named executive officers. The advisory say-on-pay vote recorded 111,551,506 votes for and 7,515,131 against.
  4. 8-KTwilio 8-K Report, Financial Results (Apr 30, 2026)Twilio Inc. (NYSE: TWLO) reported first quarter 2026 results for the quarter ended March 31, 2026, in a press release furnished as Exhibit 99.1. Revenue was $1.41 billion, up 20% year-over-year reported and 16% organic. GAAP income from operations was $107.7 million, compared with $23.1 million a year earlier, and non-GAAP income from operations was $278.9 million, up 31%. GAAP diluted earnings per share were $0.57 and non-GAAP diluted earnings per share were $1.50, compared with $0.12 and $1.14 in the first quarter of 2025. Dollar-Based Net Expansion Rate was 114%, versus 107% a year earlier. Net cash provided by operating activities was $153.2 million and free cash flow was $132.3 million, both lower than the prior-year quarter. The company raised its full-year 2026 outlook. Reported revenue growth is now expected at 14% to 15% (previously 11.5% to 12.5%), organic revenue growth at 9.5% to 10.5% (previously 8% to 9%), and non-GAAP income from operations and free cash flow are each expected at $1.08 billion to $1.10 billion (previously $1.04 billion to $1.06 billion). For the second quarter of 2026, the company guided to revenue of $1.420 billion to $1.430 billion and non-GAAP diluted EPS of $1.27 to $1.32. During the quarter Twilio repurchased $253.4 million of Class A common stock. About $892.0 million remained available under the $2.0 billion program, which expires December 31, 2027, as of March 31, 2026. The company also stated it has discontinued disclosure of Active Customer Accounts as a key metric.
  5. 8-KTwilio 8-K Report, Executive Changes (Mar 24, 2026)Twilio Inc. (TWLO) filed a Current Report on Form 8-K dated March 24, 2026, announcing the appointment of Doug Robinson to its Board of Directors, effective immediately. The Board, acting on the recommendation of its Nominating and Corporate Governance Committee, increased the size of the Board from nine to ten directors and expanded Class I from three to four directors. Mr. Robinson will serve as a Class I director until the 2026 Annual Meeting of Stockholders and has also been named to the Compensation and Talent Management Committee. Mr. Robinson previously spent 15 years at Workday, most recently as Co-President, where he oversaw the company's global go-to-market (GTM) efforts across all industries and its revenue growth in new and emerging markets. He currently sits on the board of Varicent and advises Ema AI, Guild Education, and Savo. The filing states he will receive standard non-employee director compensation under the company's existing policy and will enter into the company's standard indemnification agreement. The press release furnished as Exhibit 99.1 frames the appointment around Twilio's push to become a foundational infrastructure platform for the AI era and to accelerate growth and transform its GTM organization. The filing does not report financial results, guidance, or other financial metrics. The Item 7.01 disclosure is furnished, not filed, for purposes of Section 18 of the Exchange Act.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.