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Twilio 8-K Report, Financial Results (Oct 30, 2024)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 30, 2024
Period End
October 30, 2024
Security
TWLO
In the 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. Leadership change8-K · Jun ’18Jun ’18
  2. Material agreement8-K · Aug ’20Aug ’20
  3. Restructuring8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed October 30, 2024. Cited figures are marked; the original filing is the authoritative source.

Twilio Inc. (NYSE: TWLO) reported third quarter 2024 results on October 30, 2024, with total revenue of $1.134 billiona, up 10% year-over-year.

Communications revenue was $1.060 billionb, up 10%, while Segment revenue was $73.4 million, flat year-over-year. GAAP loss from operations narrowed to $4.9 million from $108.9 million a year earlier, and non-GAAP income from operations rose to $182.4 million from $136.4 million. GAAP net loss attributable to common stockholders was $9.7 million, or $0.06 per share, compared with $0.78 per share in the third quarter of 2023.

Non-GAAP diluted earnings per share were $1.02c, versus $0.58 a year earlier. Cash generation remained solid, with net cash provided by operating activities of $204.3 million and free cash flow of $189.1 million in the quarter. Active Customer Accounts exceeded 320,000 and the Dollar-Based Net Expansion Rate was 105%, up from 101% a year earlier.

For the nine months ended September 30, 2024, the company reported $1.91 billiond in repurchases of Class A common stock in its cash flow statement, and it stated that it has completed over $2.7 billion of aggregate repurchases under its authorizations and targets completing the remaining balance before the end of 2024. Management raised its full-year 2024 non-GAAP income from operations guidance to $700 to $710 million, up from $650 to $675 million, and set full-year free cash flow guidance of $650 to $675 million.

Full-year organic revenue growth guidance was raised to 7.5% to 8%, from 6% to 7%. Fourth-quarter 2024 guidance calls for revenue of $1.150 to $1.160 billion and non-GAAP income from operations of $185 to $195 million.

02—Key points

Key Highlights

  1. Third quarter revenue of $1.134 billion, up 10% year-over-year, with Communications revenue of $1.060 billion up 10%.
  2. GAAP loss from operations narrowed to $4.9 million from $108.9 million in Q3 2023; non-GAAP income from operations rose to $182.4 million from $136.4 million.
  3. Free cash flow of $189.1 million in the quarter, compared with $195.2 million in the third quarter of 2023.
  4. Full-year 2024 non-GAAP income from operations guidance raised to $700 to $710 million, from $650 to $675 million.
  5. Full-year 2024 organic revenue growth guidance raised to 7.5% to 8%, from 6% to 7%; full-year free cash flow guidance of $650 to $675 million.
  6. Fourth-quarter 2024 guidance: revenue of $1.150 to $1.160 billion and non-GAAP diluted EPS of $0.95 to $1.00.
  7. Over $2.7 billion of aggregate share repurchases completed to date, with the remaining authorized balance targeted for completion before the end of 2024.

03—Questions

Frequently Asked Questions

  1. How did Twilio perform in the third quarter of 2024?

    Revenue rose 10% year-over-year to $1.134 billion. GAAP loss from operations was $4.9 million, a significant improvement from $108.9 million a year earlier, and non-GAAP income from operations was $182.4 million.

  2. Did Twilio change its full-year 2024 outlook?

    Yes. Twilio raised its full-year 2024 non-GAAP income from operations range to $700 to $710 million from $650 to $675 million, and raised organic revenue growth guidance to 7.5% to 8% from 6% to 7%. It also expects full-year free cash flow of $650 to $675 million.

  3. What is the company's fourth-quarter 2024 guidance?

    Twilio guided to fourth-quarter revenue of $1.150 to $1.160 billion, 7% to 8% year-over-year growth, non-GAAP income from operations of $185 to $195 million, and non-GAAP diluted EPS of $0.95 to $1.00.

  4. How is Twilio returning capital to shareholders?

    Twilio has completed over $2.7 billion of aggregate share repurchases under authorizations totaling $3.0 billion, including an additional $2.0 billion authorized in March 2024, and it is targeting completion of the remaining balance before the end of 2024.

  5. What do the key customer metrics show?

    Active Customer Accounts were more than 320,000 as of September 30, 2024, up from more than 306,000 a year earlier. The Dollar-Based Net Expansion Rate was 105%, compared with 101% in the third quarter of 2023.

04—Continue

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