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Twilio 8-K Report, Financial Results (Feb 13, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 13, 2025
Period End
February 13, 2025
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 February 13, 2025. Cited figures are marked; the original filing is the authoritative source.

Twilio Inc. (NYSE: TWLO) reported fourth quarter and full year 2024 results on February 13, 2025, as stated in a press release furnished as Exhibit 99.1.

Fourth quarter revenue was $1.19 billiona, up 11% year-over-year, and full year revenue was $4.46 billion, up 7% reported and 9% organic. The company posted its first quarter of GAAP operating profitability, with fourth quarter GAAP income from operations of $14 million ($13.7 million), while full year GAAP loss from operations was $54 million. Non-GAAP income from operations was $197 million for the quarter and $714 million for the full year.

The company also recorded $16.8 millionb in bad debt expenses related to customer Oi SA in the quarter, which reduced both GAAP and non-GAAP operating income. Full year 2024 operating cash flow was $716.2 million and free cash flow was $657.5 million. Fourth quarter GAAP net loss per share was $0.08, and non-GAAP diluted EPS was $1.00.

Dollar-Based Net Expansion Rate was 106% for the fourth quarter and 104% for the full year 2024. The board authorized a new share repurchase program of up to $2.0 billionc through December 31, 2027, following completion of $3.0 billion in aggregate repurchases under prior programs.

For the first quarter of 2025, Twilio initiated guidance calling for revenue of $1,130 to $1,140 milliond (8% to 9% year-over-year growth) and non-GAAP income from operations of $180 to $190 million. For fiscal 2025, the company reiterated targets from its January 23, 2025 investor day: organic revenue growth of 7% to 8%, non-GAAP income from operations of $825 to $850 million, and free cash flow of $825 to $850 million.

02—Key points

Key Highlights

  1. Q4 2024 revenue of $1.19 billion, up 11% year-over-year; Communications revenue of $1.12 billion, up 12%.
  2. Full year 2024 revenue of $4.46 billion, up 7% reported and 9% organic year-over-year.
  3. First quarter of GAAP operating profitability: Q4 2024 GAAP income from operations of $14 million versus a $361.7 million loss in Q4 2023.
  4. Full year 2024 non-GAAP income from operations of $714 million, versus $533 million in 2023; free cash flow of $657.5 million.
  5. Q4 2024 bad debt expense of $16.8 million related to customer Oi SA reduced GAAP and non-GAAP operating income.
  6. New share repurchase authorization of up to $2.0 billion, expiring December 31, 2027, after $3.0 billion in prior repurchases were completed.
  7. FY2025 guidance reiterated: organic revenue growth of 7% to 8%, non-GAAP operating income of $825 to $850 million, and free cash flow of $825 to $850 million.

03—Questions

Frequently Asked Questions

  1. Did Twilio achieve GAAP profitability in the fourth quarter of 2024?

    Yes, on an operating basis. Fourth quarter 2024 GAAP income from operations was $13.7 million, compared with a GAAP loss from operations of $361.7 million in the fourth quarter of 2023. However, the company still reported a GAAP net loss attributable to common stockholders of $12.5 million, or $0.08 per share, for the quarter.

  2. What drove the Q4 2024 bad debt expense?

    The company incurred $16.8 million in bad debt expenses related to its customer Oi SA, a Brazilian telecom company, due to a slowdown in that customer's ongoing payment activity. These expenses reduced both GAAP and non-GAAP income from operations in the quarter.

  3. What is the company's guidance for the first quarter and full year 2025?

    For Q1 2025, Twilio guided to revenue of $1,130 to $1,140 million (8% to 9% year-over-year growth), non-GAAP income from operations of $180 to $190 million, and non-GAAP diluted EPS of $0.88 to $0.93. For fiscal 2025, the company reiterated organic revenue growth of 7% to 8%, non-GAAP income from operations of $825 to $850 million, and free cash flow of $825 to $850 million.

  4. How much capital is Twilio returning to shareholders?

    In January 2025, the Board authorized a share repurchase program of up to $2.0 billion of Class A common stock, expiring December 31, 2027. The company completed $3.0 billion in aggregate repurchases under its previous programs, which expired on December 31, 2024. Full year 2024 repurchases of Class A common stock and related costs totaled $2.33 billion, per the cash flow statement.

04—Continue

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