TWLO · Twilio

151 filings

TWLO SEC Filings

Twilio - 151 total filings

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

Showing 1–50 of 151 filings

Twilio Quarterly Report for Q3 Ended Sep 30, 2026

Twilio Inc. reported third-quarter 2026 revenue of $1.56 billion, up 20% from $1.30 billion in the same period of 2025. Net income attributable to common stockholders rose to $161.2 million from $37.2 million, and diluted earnings per share were $1.00 versus $0.23. Income from operations was $148.6 million, compared with $40.9 million a year earlier. Dollar-Based Net Expansion Rate (DBNE) improved to 114% from 109%. The filing attributes $53.1 million of the quarter's revenue increase to incremental A2P messaging fees introduced by major U.S. carriers, which the company passes through to customers at cost and which create a headwind to gross margin. For the nine months ended September 30, 2026, revenue was $4.47 billion, up 21%, and net income was $1.32 billion, diluted EPS was $8.25. That result includes a $937.1 million income tax benefit from releasing a significant portion of the U.S. deferred tax asset valuation allowance in the second quarter of 2026. The filing also records a $32.8 million impairment on prepaid network services after two network service providers experienced operational and financial challenges. Non-GAAP income from operations was $325.7 million in the quarter, compared with $234.5 million, and free cash flow was $369.6 million, compared with $247.5 million. The balance sheet remained liquid, with $1.06 billion in cash and cash equivalents and $1.83 billion in short-term marketable securities as of September 30, 2026. The company repurchased $446.7 million of Class A common stock in the nine months, leaving approximately $698.7 million available under its $2.0 billion program that expires December 31, 2027. Total long-term debt, net, was $993.6 million, and the company stated it was in compliance with all covenants under its senior note indentures.

Oct 30, 2026 8-K

Twilio 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.

Oct 29, 2026 10-Q

Twilio Quarterly Report for Q2 Ended Jun 30, 2026

Twilio Inc. reported second-quarter 2026 revenue of $1,499.1 million, up 22% from $1,228.4 million in the prior-year quarter, with the filing attributing the increase to higher usage from existing customers (DBNE of 116%, versus 108% a year earlier), $75.7 million from newer customer accounts, and $71.1 million from incremental A2P fees introduced by major U.S. carriers. Gross profit rose to $725.9 million from $602.7 million, though gross margin declined to 48% from 49%. Income from operations was $84.5 million, compared with $37.0 million, after a $32.8 million impairment loss on prepaid network services tied to two network service providers' operational and financial challenges. Net income attributable to common stockholders was $1,067.2 million for the quarter, or $6.68 per diluted share, versus $22.4 million ($0.14 per diluted share) a year earlier. The result was driven primarily by a $944.1 million income tax benefit from releasing a significant portion of the U.S. deferred tax asset valuation allowance, which the company concluded is more likely than not realizable based on three years of cumulative U.S. profitability. Excluding this one-time benefit, the filing's income before taxes was $75.5 million for the quarter. Balance sheet and cash flow remained steady. As of June 30, 2026, the company held $823.3 million in cash and cash equivalents and $1.8 billion in short-term marketable securities against $993.2 million of long-term debt (2029 and 2031 Senior Notes). Net cash from operating activities for the six months was $525.6 million, and the company repurchased $319.4 million of stock in the six months, leaving approximately $826.0 million under its January 2025 authorization.

Aug 7, 2026 8-K

Twilio 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).

Aug 6, 2026 8-K

Twilio 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.

Jun 17, 2026 10-Q

Twilio Quarterly Report for Q1 Ended Mar 31, 2026

Twilio Inc. reported first-quarter 2026 revenue of $1.41 billion, up from $1.17 billion in the same period of 2025, with the filing attributing the increase to higher usage from existing customers (Dollar-Based Net Expansion Rate of 114%, compared with 107%), $70.9 million from customer accounts outside that metric, and $46.1 million from incremental A2P fees introduced by major U.S. carriers. Income from operations rose to $107.7 million from $23.1 million, and net income attributable to common stockholders increased to $90.1 million from $20.0 million, or $0.57 per diluted share versus $0.12. Gross margin was 49% compared with 50% a year earlier, as cost of revenue grew 22% on network service provider costs, including the A2P fees that the company passes through at cost. Cash generation was weaker than earnings. Net cash provided by operating activities was $153.2 million versus $191.0 million, and free cash flow was $132.3 million versus $178.3 million. The filing states that March 2026 included a $141.0 million payment under the 2025 company-wide bonus program, and accrued expenses and other current liabilities declined by $155.8 million over the quarter. Cash and cash equivalents were $542.0 million at March 31, 2026, down from $682.3 million at December 31, 2025, and short-term marketable securities were $1.8 billion. Capital allocation remained focused on buybacks. The company repurchased 2.1 million Class A shares for $253.4 million in the quarter, leaving approximately $892.0 million under the $2.0 billion program that expires on December 31, 2027. The filing states that there is a reasonable possibility that a significant portion of the valuation allowance on U.S. deferred tax assets could be released in 2026, which would produce a significant income tax benefit, though timing and amount remain subject to operating results. The company also disclosed an IRS notice of intent to audit its 2023 federal return, which is in preliminary stages.

May 1, 2026 8-K

Twilio 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.

Apr 30, 2026 8-K

Twilio 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.

Mar 24, 2026 10-K

Twilio Annual Report, Year Ended Dec 31, 2025

Twilio Inc. reported total revenue of $5.07 billion for the year ended December 31, 2025, up 14% from $4.46 billion in 2024, driven primarily by increased usage from existing customers (Dollar-Based Net Expansion Rate of 108%) and $242.0 million of revenue from new Active Customer Accounts. The company returned to net income of $33.8 million in 2025 after net losses of $109.4 million in 2024 and $1.0 billion in 2023. Gross profit rose to $2.48 billion, with gross margin of 49% versus 51% in 2024, reflecting the pass-through of A2P messaging fees imposed by a major U.S. carrier, which the filing says create a modest margin headwind. Operating income was $157.8 million compared with an operating loss of $53.7 million in 2024, and non-GAAP income from operations was $924.0 million, or 18% of revenue. Other expenses were affected by an $80.6 million impairment of the company's equity method investment in Syniverse Corporation. Free cash flow was $945.4 million (19% of revenue), up from $657.5 million in 2024. At year end, cash and cash equivalents totaled $682.3 million and short-term marketable securities $1.8 billion, against $1.0 billion of senior notes due 2029 and 2031. The company repurchased $854.6 million of stock in 2025 under a $2.0 billion program, leaving approximately $1.1 billion available, and management states that cash and cash equivalents and cash flows are sufficient for the next 12 months and beyond. The filing also notes that the company expects a significant income tax benefit if it releases a portion of its U.S. valuation allowance within the next twelve months. Key risks highlighted include the usage-based nature of most revenue (74% of 2025 revenue), exposure to network service provider fee increases, international operations (36% of 2025 revenue from outside the United States), cybersecurity incidents, and evolving privacy, telecommunications and AI regulation. The auditor KPMG LLP issued an unqualified opinion on both the financial statements and internal control over financial reporting, with revenue recognition for Messaging and Voice APIs identified as the critical audit matter.

Feb 24, 2026 8-K

Twilio 8-K Report, Financial Results (Feb 12, 2026)

Twilio Inc. (NYSE: TWLO) reported fourth quarter and full year 2025 results in a press release furnished as Exhibit 99.1. For Q4 2025, revenue was $1.37 billion, up 14% year-over-year and 12% organic. GAAP income from operations was $56.8 million, compared with $13.7 million in Q4 2024, while non-GAAP income from operations was $255.6 million, compared with $197.0 million. GAAP net loss per diluted share was $0.30, compared with $0.08 a year earlier, and non-GAAP diluted EPS was $1.33, compared with $1.00. For full year 2025, revenue was $5.07 billion, up 14% reported and 13% organic. GAAP income from operations was $157.8 million, versus a loss of $53.7 million in 2024, and non-GAAP income from operations was $924.0 million, versus $714.4 million. Net cash provided by operating activities was $1.0 billion and free cash flow was $945.4 million, compared with $657.5 million in 2024. Dollar-Based Net Expansion Rate was 108% for the full year 2025, compared with 104% for 2024, and Active Customer Accounts exceeded 402,000 at year-end. For 2026, Twilio initiated first-quarter revenue guidance of $1.335 to $1.345 billion, implying 14% to 15% reported and 10% to 11% organic growth, and full-year guidance of 11.5% to 12.5% reported and 8% to 9% organic revenue growth, with 2026 non-GAAP income from operations of $1.04 to $1.06 billion and free cash flow of $1.04 to $1.06 billion. The company also disclosed that about $854.6 million of shares were repurchased in 2025, leaving approximately $1.1 billion available under a $2.0 billion program that expires December 31, 2027.

Feb 12, 2026 10-Q

Twilio Quarterly Report for Q3 Ended Sep 30, 2025

Twilio Inc. reported third-quarter 2025 revenue of $1.30 billion, up from $1.13 billion a year earlier, and net income attributable to common stockholders of $37.2 million, compared with a net loss of $9.7 million in the prior-year quarter. Income from operations was $40.9 million versus a loss of $4.9 million, and non-GAAP income from operations was $234.5 million (18% non-GAAP operating margin). For the nine months, revenue was $3.70 billion and net income was $79.7 million, compared with a net loss of $96.9 million a year earlier. The filing attributes revenue growth mainly to existing-customer usage (Dollar-Based Net Expansion Rate of 109% for the quarter) and $61.0 million from new Active Customer Accounts, which numbered 392,000 at September 30, 2025. Management notes that a major U.S. carrier's A2P fee increase passes through at cost, adding revenue and cost of revenue without affecting gross profit dollars but creating a modest gross margin headwind. The balance sheet shows cash and cash equivalents of $734.8 million and short-term marketable securities of $1.72 billion, against long-term debt of $991.9 million (2029 and 2031 Senior Notes). Nine-month operating cash flow was $731.7 million and free cash flow for the quarter was $247.5 million (19% margin). During the nine months, the company repurchased $656.7 million of Class A common stock under a $2.0 billion program authorized in January 2025, leaving about $1.3 billion available. The filing also discloses a pending acquisition of Stytch, Inc., agreed on October 30, 2025 and expected to close in the fourth quarter of 2025.

Oct 31, 2025 8-K

Twilio 8-K Report, Financial Results (Oct 30, 2025)

Twilio Inc. (NYSE: TWLO) reported third quarter 2025 results for the quarter ended September 30, 2025, in a press release furnished as Exhibit 99.1 to this Item 2.02 filing. Revenue was $1.3 billion, up 15% year-over-year and up 13% on an organic basis. GAAP income from operations was $40.9 million, compared with a GAAP loss from operations of $4.9 million in the third quarter of 2024, and non-GAAP income from operations was $234.5 million, compared with $182.4 million a year earlier. GAAP net income attributable to common stockholders was $37.2 million, or $0.23 per diluted share, and non-GAAP diluted earnings per share was $1.25. Net cash provided by operating activities was $263.6 million and free cash flow was $247.5 million. The company raised its full-year 2025 guidance. Reported revenue growth is now expected at 12.4% to 12.6% (previously 10% to 11%), organic revenue growth at 11.3% to 11.5% (previously 9% to 10%), non-GAAP income from operations at $900 to $910 million (previously $850 to $875 million), and free cash flow at $920 to $930 million (previously $875 to $900 million). Fourth-quarter 2025 guidance projects revenue of $1,310 to $1,320 million and non-GAAP income from operations of $230 to $240 million. Dollar-based net expansion rate was 109%, compared with 105% in the third quarter of 2024, and active customer accounts were more than 392,000, compared with more than 320,000 a year earlier. Capital allocation and M&A were also covered. Twilio repurchased $349.8 million of Class A common stock in the third quarter and has about $1.3 billion remaining under its $2.0 billion authorization, which expires December 31, 2027. The company also entered into a definitive agreement to acquire Stytch, Inc., an identity platform for AI agents, with closing expected in mid-November, subject to customary conditions.

Oct 30, 2025 10-Q

Twilio Quarterly Report for Q2 Ended Jun 30, 2025

Twilio Inc. reported revenue of $1,228.4 million for the three months ended June 30, 2025, up from $1,082.5 million a year earlier, and net income of $22.4 million versus a net loss of $31.9 million in the prior-year quarter. Income from operations was $37.0 million compared with a loss of $19.0 million. For the six months ended June 30, 2025, revenue was $2,400.9 million and net income was $42.4 million. The filing states the Communications segment drove growth, with Communications revenue of $1,153.0 million (up $145.7 million) and Segment revenue of $75.5 million, roughly flat. Segment non-GAAP income from operations was $280.6 million for Communications and $6.0 million for Segment in the quarter. Balance sheet and cash flow remained solid. As of June 30, 2025, cash and cash equivalents totaled $969.2 million and short-term marketable securities $1.57 billion, against $991.4 million of long-term debt, net. Net cash provided by operating activities was $468.1 million for the six months, and the company repurchased $306.9 million of Class A common stock in the period, leaving about $1.7 billion available under the $2.0 billion program authorized in January 2025. The filing also discloses that a major U.S. mobile carrier raised A2P messaging fees in June 2025, which the company passes through at cost and which the filing says will create a modest headwind to gross margins. Gross margin was 49% for the quarter versus 51% a year earlier, and the filing attributes the increase in cost of revenue primarily to a $94.5 million rise in network service provider costs. Active Customer Accounts were 349,000 versus 316,000, and Dollar-Based Net Expansion Rate was 108% versus 102%. Management stated it believes existing cash and cash flows will be sufficient for the next 12 months and beyond.

Aug 8, 2025 8-K

Twilio 8-K Report, Financial Results (Aug 7, 2025)

Twilio Inc. (NYSE: TWLO) reported second quarter 2025 results for the quarter ended June 30, 2025, in a press release furnished as Exhibit 99.1 to this Form 8-K. Revenue was $1.23 billion ($1,228,425 thousand), up 13% year-over-year on both a reported and organic basis, with Communications revenue of $1.15 billion, up 14%, and Segment revenue of $75.5 million, flat year-over-year. GAAP income from operations was $37.0 million, compared with a GAAP loss from operations of $19.0 million in the second quarter of 2024, while non-GAAP income from operations was $220.5 million, up from $175.3 million. GAAP diluted EPS was $0.14 and non-GAAP diluted EPS was $1.19, compared with $0.87 a year earlier. Cash generation was strong: net cash provided by operating activities was $277.1 million and free cash flow was $263.5 million, compared with $213.3 million and $197.6 million in the prior-year quarter. The company repurchased $176.7 million of Class A common stock during the quarter under a $2.0 billion authorization that runs through December 31, 2027. Active Customer Accounts exceeded 349,000 and the Dollar-Based Net Expansion Rate was 108%, versus 102% a year earlier. For guidance, Twilio initiated third quarter 2025 targets of $1,245 - $1,255 million in revenue (10% - 11% year-over-year reported growth), $205 - $215 million in non-GAAP income from operations, and non-GAAP diluted EPS of $1.01 - $1.06. For fiscal 2025 it raised its organic revenue growth target to 9% - 10% from 7.5% - 8.5%, initiated a reported revenue growth target of 10% - 11%, reiterated non-GAAP income from operations of $850 - $875 million, and raised its free cash flow target to $875 - $900 million from $850 - $875 million.

Aug 7, 2025 8-K

Twilio 8-K Report, Bylaw Amendment (Jun 11, 2025)

Twilio Inc. held its Annual Meeting of Stockholders on June 10, 2025, where stockholders approved three amendments to the Company's Amended and Restated Certificate of Incorporation. The amendments declassify the board of directors, eliminate supermajority voting provisions, and remove inoperative provisions, including references to Class B common stock, along with other miscellaneous updates. The Company filed the Amended and Restated Certificate of Incorporation with the Delaware Secretary of State on June 10, 2025, and it became effective upon filing. The full text is attached as Exhibit 3.1. Holders of 123,304,985 shares of Class A Common Stock, representing 80.76% of the voting power of outstanding Class A common stock as of the April 15, 2025 record date, were present in person or by proxy, which constituted a quorum. Stockholders re-elected Donna Dubinsky, Deval Patrick and Miyuki Suzuki as Class III directors to serve until the 2028 annual meeting. They also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, and approved, on a non-binding advisory basis, the compensation of the named executive officers. Each charter amendment was approved with substantial support. Declassification passed with 103,274,866 votes for and 5,956,347 against, supermajority elimination with 103,149,142 for and 6,094,211 against, and the inoperative-provisions amendment with 109,188,753 for and 65,066 against. The say-on-pay vote recorded 92,397,076 for and 16,819,154 against.

Jun 11, 2025 10-Q

Twilio Quarterly Report for Q1 Ended Mar 31, 2025

Twilio Inc. reported first-quarter 2025 revenue of $1.17 billion, up from $1.05 billion in the prior-year period, and net income of $20.0 million versus a net loss of $(55.3) million a year earlier. Income from operations was $23.1 million compared with a loss from operations of $(43.5) million. Communications revenue rose $124.8 million, or 13%, driven by existing-customer usage and $50.9 million from new Communications Active Customer Accounts, while Segment revenue was roughly flat at $75.7 million, up 1%. The Communications Dollar-Based Net Expansion Rate was 108% and the Segment rate was 94%. Gross margin fell to 50% from 52%, mainly due to a $76.7 million increase in network service provider costs, net of hedging. Cash flow and capital returns were the other focus. Net cash provided by operating activities was $191.0 million and free cash flow was $178.3 million. Cash and cash equivalents were $467.1 million and short-term marketable securities were $2.0 billion. The company repurchased 1.2 million Class A shares for $130.2 million under a $2.0 billion program authorized in January 2025, leaving about $1.9 billion available. Stock-based compensation remained significant at $139.3 million for the quarter, and total long-term debt, net, was $991.0 million across the 2029 and 2031 Senior Notes. The filing states that the company's disclosure controls were effective as of March 31, 2025, and it reports no material change in internal control over financial reporting during the quarter. Management believes cash and marketable securities, together with operating cash flows, will be sufficient for the next 12 months and beyond. The filing also discloses that Section 13(r) activity related to SMS messages terminating in Iran through a non-U.S. subsidiary's Swiss service provider has been terminated, with no gross revenue or net profits received from the Iranian Entities.

May 2, 2025 8-K

Twilio 8-K Report, Financial Results (May 1, 2025)

Twilio Inc. (NYSE: TWLO) reported first quarter 2025 results for the quarter ended March 31, 2025, furnished as Exhibit 99.1 to this Item 2.02 Current Report. Revenue was $1.17 billion, up 12% year-over-year, with Communications revenue of $1.10 billion, up 13%, and Segment revenue of $75.7 million, up 1%. GAAP income from operations was $23.1 million, compared with a GAAP loss from operations of $43.5 million in the first quarter of 2024, while non-GAAP income from operations rose to $213.4 million from $159.6 million. GAAP diluted EPS was $0.12 and non-GAAP diluted EPS was $1.14, versus $0.80 a year earlier. Net cash provided by operating activities was $191.0 million and free cash flow was $178.3 million. Management raised its full-year 2025 guidance: organic revenue growth is now expected at 7.5% to 8.5%, compared with 7% to 8% previously, and non-GAAP income from operations and free cash flow targets were both raised to $850 to $875 million from $825 to $850 million. Second-quarter 2025 guidance calls for revenue of $1,180 to $1,190 million (9% to 10% year-over-year growth) and non-GAAP income from operations of $195 to $205 million. Dollar-based net expansion rate was 107% for the quarter, compared with 102% a year earlier, and Active Customer Accounts exceeded 335,000 as of March 31, 2025. The Board authorized a share repurchase program in January 2025 of up to $2.0 billion of Class A common stock, expiring December 31, 2027, under which Twilio repurchased $130.2 million of shares during the first quarter. The filing states that the Company's CEO, Khozema Shipchandler, said revenue growth accelerated and that the company continues to operate with more discipline and rigor.

May 1, 2025 10-K

Twilio Annual Report, Year Ended Dec 31, 2024

Twilio Inc. reported revenue of $4,458,036 thousand ($4.46 billion) for the year ended December 31, 2024, up from $4,153,945 thousand in 2023, with Communications revenue of $4,160,340 thousand and Segment revenue of $297,696 thousand. The company remained loss-making on a GAAP basis, with a net loss of $109,403 thousand in 2024 compared with $1,015,441 thousand in 2023. Loss from operations narrowed to $53,708 thousand from $876,541 thousand, reflecting the absence of the $320,504 thousand impairment charges recorded in 2023 and lower restructuring costs. Gross margin improved to 51% from 49%, and operating expenses fell to $2,331,920 thousand from $2,920,471 thousand. Cash generation improved meaningfully. Net cash provided by operating activities was $716,241 thousand and free cash flow was $657,455 thousand, compared with $363,517 thousand in 2023. The company repurchased 36.8 million Class A shares for $2.3 billion during 2024 under authorizations that expired December 31, 2024, and in January 2025 authorized a new $2.0 billion repurchase program running through December 31, 2027. Cash and cash equivalents were $421.3 million and short-term marketable securities were $2.0 billion at year end, against $1.0 billion of senior notes (2029 and 2031) outstanding. The filing also flags continuing risks for investors. Revenue is predominantly usage-based (72% of 2024 revenue), so it is more exposed to macroeconomic conditions, and network service provider fees, including A2P SMS fees charged by U.S. carriers, pressure gross margins. Dollar-Based Net Expansion Rate declined to 104% from 103% in 2023 overall, while the Segment rate was 92% in 2024, and the company cited ongoing regulatory, cybersecurity and tax exposures, including reserves of $41.4 million for uncollected taxes.

Feb 26, 2025 8-K

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

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 billion, 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 million 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 billion 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 million (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.

Feb 13, 2025 8-K

Twilio 8-K Report, Financial Results (Jan 23, 2025)

Twilio Inc. (TWLO) furnished preliminary, unaudited estimated results for the quarter and full year ended December 31, 2024, in connection with its Investor Day on January 23, 2025. The company expects fourth-quarter 2024 revenue growth of approximately 11% year-over-year and positive GAAP income from operations for the quarter. Non-GAAP income from operations for the fourth quarter and full year 2024 is expected to be above the top end of the guidance ranges provided on October 30, 2024, while full-year 2024 free cash flow is expected to fall within the originally guided range. The company will report final results on February 13, 2025, and these estimates remain subject to financial closing procedures and KPMG LLP has not audited or reviewed them. Separately, the Board adopted Fourth Amended and Restated Bylaws effective January 19, 2025. The changes lower the stockholder vote needed to amend bylaws to a majority of total voting power, update advance notice and universal proxy provisions, revise board action, committee and officer provisions, and modify advancement of expenses and indemnification for directors and officers. The amendments were described as enhancing corporate governance in light of recent developments in Delaware law. The Board also authorized a new $2.0 billion share repurchase program for Class A common stock, running through December 31, 2027. The program replaces previously authorized programs, which expired on December 31, 2024, and may be executed through open market, privately negotiated, or Rule 10b5-1 plan transactions at the company's discretion.

Jan 23, 2025 8-K

Twilio 8-K Report, Executive Changes (Dec 16, 2024)

Twilio Inc. filed this Form 8-K dated December 16, 2024, reporting an event from December 13, 2024 under Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers). On December 13, 2024, Dana Wagner, the Chief Legal Officer and Corporate Secretary, notified the company of his intention to resign from his positions. To ensure a smooth transition, Mr. Wagner will remain employed in his current positions through January 1, 2025. He will not receive any severance payments or benefits in connection with his departure. The filing is a limited leadership-change disclosure with no financial results, guidance, or operational metrics. For investors, the main takeaway is the planned departure of the company's top legal officer, with a defined end date and no severance costs disclosed.

Dec 16, 2024 10-Q

Twilio Quarterly Report for Q3 Ended Sep 30, 2024

Twilio Inc. reported third-quarter 2024 revenue of $1.13 billion, up from $1.03 billion a year earlier, and narrowed its net loss to $9.7 million from $141.7 million. For the nine months ended September 30, 2024, revenue was $3.26 billion and the net loss was $96.9 million, compared with a $650.0 million net loss in the prior-year period. Loss from operations was $4.9 million in the quarter versus $108.9 million a year earlier. Communications revenue grew 10% to $1.06 billion, while Segment revenue was flat at $73.4 million. Segment non-GAAP results remained negative, with a non-GAAP loss from operations of $15.8 million in the quarter, and the filing states the company targets break-even non-GAAP income from operations for Segment by the second quarter of 2025. Cash flow and capital return were prominent in the period. Net cash provided by operating activities was $607.8 million for the nine months, versus $192.2 million in the prior year. The company repurchased 32.0 million Class A shares for $1.9 billion in the nine months, leaving approximately $412.0 million available under its repurchase programs, which expire December 31, 2024. Cash and cash equivalents were $584.0 million and short-term marketable securities were $2.1 billion as of September 30, 2024, against $1.0 billion of senior notes outstanding. Stockholders' equity declined to $8.23 billion from $9.73 billion at year-end 2023, largely reflecting the share repurchases and the accumulated deficit of $7.09 billion. The filing also notes a company-wide cash bonus program introduced in 2024, which recorded $94.4 million of expense in the nine months, and the wind-down of the software component of the Zipwhip business, which the company expects to weigh on fourth-quarter 2024 revenue growth. The company is migrating part of Segment's architecture to a new infrastructure provider, which it expects to pressure Segment gross margins in the fourth quarter.

Oct 31, 2024 8-K

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

Twilio Inc. (NYSE: TWLO) reported third quarter 2024 results on October 30, 2024, with total revenue of $1.134 billion, up 10% year-over-year. Communications revenue was $1.060 billion, 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 $1.02, 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 billion 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.

Oct 30, 2024 8-K

Twilio 8-K Report, Executive Changes (Oct 4, 2024)

Twilio Inc. filed this Form 8-K on October 4, 2024 under Item 5.02 to report amendments to its executive severance arrangements. On September 30, 2024, the Compensation and Talent Management Committee of the Board of Directors amended both the Amended Chief Executive Officer Severance Plan and the Senior Executive Severance Plan covering the non-CEO executive team. The amendments provide that a specified percentage of each participant's annual target bonus is payable upon a qualifying termination in connection with a change in control. Under the amended plans, a participant terminated without Cause, death or disability, or who resigns for Good Reason within the period beginning three months before and ending 12 months after a Change in Control becomes eligible for benefits. These are subject to a general release of claims. The CEO plan provides a lump sum of 24 months of base salary plus 200% of annual target bonus, up to 24 months of COBRA-equivalent employer health contributions, and full accelerated vesting of equity awards. The Senior Executive plan provides 18 months of base salary plus 150% of annual target bonus, up to 18 months of COBRA-equivalent contributions, and the same full equity acceleration. Equity awards with performance conditions are deemed satisfied at target levels. The filing describes these as compensatory arrangements for certified officers and does not report any change in executive titles or board membership. The full plan texts are filed as Exhibits 10.1 and 10.2, and the filing includes the Inline XBRL cover page as Exhibit 104. Investors may view the changes as relevant to potential executive retention and takeover-related costs, since the severance benefits are tied to a change in control.

Oct 4, 2024 10-Q

Twilio Quarterly Report for Q2 Ended Jun 30, 2024

Twilio Inc. reported revenue of $1.08 billion for the three months ended June 30, 2024, up from $1.04 billion a year earlier, a 4% increase as stated in the filing. Net loss attributable to common stockholders narrowed to $31.9 million, or $(0.19) per share, from $166.2 million, or $(0.91) per share. For the six months, revenue was $2.13 billion and net loss was $87.2 million, compared with $508.3 million in the prior-year period, which included restructuring costs of $136.8 million. Communications revenue grew 4% in the quarter, while Segment revenue grew 3%. Communications non-GAAP income from operations rose to $249.9 million from $192.5 million, while Segment non-GAAP loss narrowed to $15.8 million from $19.0 million. Non-GAAP operating margin was 16% versus 12% a year earlier. Cash generation improved significantly. Net cash provided by operating activities was $403.5 million for the six months, compared with $14.2 million used in the same period of 2023. Free cash flow for the quarter was $197.6 million, or an 18% free cash flow margin, versus $71.9 million, or 7%, a year earlier. At June 30, 2024, the company held $755.1 million in cash and cash equivalents and $2.4 billion in short-term marketable securities against $1.0 billion of senior notes. The company repurchased 15.2 million shares for $898.6 million in the quarter and 21.4 million shares for $1.3 billion in the six months. Approximately $1.0 billion remained available under its authorized repurchase programs, which expire December 31, 2024. Management reiterated targets for Segment break-even non-GAAP operating income by the second quarter of 2025 and GAAP operating profitability on a consolidated basis by the fourth quarter of 2025. Key operating indicators were mixed. Active Customer Accounts rose to 316,000 from 304,000, though management said this metric is now less informative about growth. Dollar-Based Net Expansion Rate was 102% for the quarter, down from 103%, and Segment's rate was 93%. The filing notes that the wind-down of Zipwhip's software business in 2024 will negatively affect revenue growth, and that migration of part of Segment's architecture will weigh on Segment gross margins until completed by the end of 2024. The accumulated deficit stood at $6.4 billion.

Aug 1, 2024 8-K

Twilio 8-K Report, Financial Results (Aug 1, 2024)

Twilio Inc. filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to furnish a press release announcing its financial results for the quarter ended June 30, 2024. Revenue was $1.08 billion, up 4% year-over-year reported and 7% organic. GAAP loss from operations was $19.0 million, compared with $141.8 million in the second quarter of 2023, while non-GAAP income from operations was $175.3 million, compared with $120.1 million. GAAP net loss per share was $0.19, compared with $0.91 a year earlier, and non-GAAP diluted earnings per share were $0.87, compared with $0.54. Net cash provided by operating activities was $213.3 million and free cash flow was $197.6 million. Twilio raised its full-year 2024 non-GAAP income from operations guidance to $650 - $675 million, up from $585 - $635 million previously, and narrowed its full-year 2024 organic revenue growth guidance to 6% - 7%, from 5% - 10% previously. For the third quarter of 2024, the company guided to revenue of $1,085 - $1,095 million and non-GAAP income from operations of $160 - $170 million. Dollar-Based Net Expansion Rate was 102% for the quarter, compared with 103% a year earlier, and Active Customer Accounts exceeded 316,000. On capital allocation, Twilio has completed over $2.2 billion of aggregate share repurchases under authorizations totaling $3.0 billion, and it is targeting completion of the remaining $0.8 billion before the end of 2024. The company also reported 5,507 employees as of June 30, 2024.

Aug 1, 2024 8-K

Twilio 8-K Report, Shareholder Vote Results (Jun 10, 2024)

Twilio Inc. (TWLO) held its 2024 Annual Meeting of Stockholders on June 6, 2024. Holders of 138,898,158 shares of Class A Common Stock, representing 79.53% of the voting power outstanding as of the April 15, 2024 record date, were present in person or by proxy, which constituted a quorum. Stockholders voted on five proposals, each described in the definitive proxy statement filed April 26, 2024. Stockholders elected Jeff Epstein, Khozema Shipchandler, and Andrew Stafman as Class II directors to serve until the 2027 annual meeting. Epstein received the fewest votes for, with 71,741,601 for and 47,454,013 withheld, while Shipchandler received 118,062,793 for and Stafman received 112,117,957 for. Stockholders also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, with 137,461,341 votes for and 1,269,712 against. In a non-binding advisory vote, stockholders approved the compensation of the named executive officers, with 99,631,123 for and 19,383,794 against. Stockholders expressed a preference for holding say-on-pay votes every one year, with 109,876,271 votes, and the company plans to hold these votes annually. Stockholders did not approve the management proposal to amend the certificate of incorporation to declassify the board of directors, which received 112,213,240 votes for, 6,758,281 against, and 224,093 abstentions.

Jun 10, 2024 10-Q

Twilio Quarterly Report for Q1 Ended Mar 31, 2024

Twilio Inc. reported first-quarter 2024 revenue of $1.05 billion, up from $1.01 billion in the prior-year quarter, and a net loss of $55.3 million, narrowed from a net loss of $342.1 million a year earlier. Loss from operations improved to $43.5 million from $264.1 million, helped by lower restructuring costs ($9.9 million versus $121.9 million), the absence of prior-year impairments, and lower sales and marketing expense. Non-GAAP income from operations was $159.6 million, or 15% of revenue, versus $103.8 million, or 10%, a year earlier. Net cash provided by operating activities was $190.1 million, and free cash flow was $177.3 million, compared with negative figures in the prior-year period. The Communications segment drove most of the growth, with revenue of $972.0 million and non-GAAP income from operations of $249.0 million. The Segment business, by contrast, generated revenue of $75.0 million and a non-GAAP loss from operations of $21.0 million, and management is targeting break-even non-GAAP operating income for Segment by the second quarter of 2025 and GAAP operating profitability on a consolidated basis by the fourth quarter of 2025. Cash and cash equivalents were $672.6 million and short-term marketable securities were $3.2 billion at March 31, 2024, against $1.0 billion of senior notes. The company repurchased $384.3 million of Class A common stock in the quarter and had approximately $1.9 billion remaining under its repurchase authorizations. The filing also notes that Khozema Shipchandler was appointed Chief Executive Officer in January 2024 after co-founder Jeff Lawson resigned, and that the Oi SA bankruptcy reorganization affects collections on pre-petition receivables. Dollar-Based Net Expansion Rate was 102%, down from 106% a year earlier.

May 8, 2024 8-K

Twilio 8-K Report, Financial Results (May 7, 2024)

Twilio Inc. (NYSE: TWLO) furnished an 8-K under Item 2.02 reporting results for the quarter ended March 31, 2024, via a press release (Exhibit 99.1) issued May 7, 2024. First-quarter revenue was $1.05 billion ($1,047,050 thousand), up 4% year-over-year and 7% on an organic basis. GAAP loss from operations narrowed to $43.5 million from $264.1 million a year earlier, while non-GAAP income from operations was $159.6 million versus $103.8 million. Net loss attributable to common stockholders was $55.3 million, or $0.31 per share, compared with $342.1 million, or $1.84 per share, in the prior-year quarter. Non-GAAP diluted EPS was $0.80. Cash generation was strong: net cash provided by operating activities was $190.1 million and free cash flow was $177.3 million, compared with negative figures in the first quarter of 2023. Active Customer Accounts exceeded 313,000, and the Dollar-Based Net Expansion Rate was 102%, down from 106% a year earlier. The company also repurchased $356.9 million of Class A common stock in the quarter, and its board authorized an additional $2.0 billion in March 2024; Twilio has completed about $1.5 billion of aggregate repurchases to date and targets finishing the remaining $1.5 billion before the end of 2024. For the outlook, Twilio initiated second-quarter 2024 guidance calling for revenue of $1,050 to $1,060 million, organic revenue growth of 4% to 5%, and non-GAAP income from operations of $135 to $145 million. It raised full-year 2024 non-GAAP income from operations guidance to $585 to $635 million and reaffirmed full-year organic revenue growth guidance of 5% to 10%.

May 7, 2024 8-K

Twilio 8-K Report, Executive Changes (Apr 4, 2024)

Twilio Inc. (TWLO) filed this Form 8-K on April 4, 2024 to report two matters. First, director Byron Deeter, an independent board member, notified the Board on April 3, 2024 that he will retire from the Board and not stand for re-election, effective at the expiration of his current term immediately before the 2024 annual meeting of stockholders. The filing states his decision was not due to any disagreement with the Company. Following his retirement, the Board will shrink from ten to nine members, and Class II will shrink from four to three directors. Second, the Board approved, subject to stockholder approval at the 2024 Annual Meeting, an amendment to the certificate of incorporation to declassify the Board. If approved, directors would move to one-year terms beginning with the 2025 annual meeting. The company's press release, furnished as Exhibit 99.1, says the change builds on the prior sunset of the dual-class share structure and the separation of the Chair and CEO roles earlier in 2024. The filing also notes that Twilio intends to file a proxy statement and a WHITE proxy card for the 2024 Annual Meeting, which signals a potential proxy contest context in the solicitation language. For investors, the filing is primarily a governance update: a long-serving director is departing, the board is shrinking, and the company is moving toward annual director elections, subject to a shareholder vote.

Apr 4, 2024 8-K

Twilio 8-K Report, Material Agreement (Apr 1, 2024)

Twilio Inc. (NYSE: TWLO) entered into a cooperation agreement dated March 30, 2024 with Sachem Head Capital Management LP and certain of its affiliates. Under the agreement, Twilio appointed Andy J. Stafman, a partner at Sachem Head, to its Board of Directors as a Class II director, effective immediately, with a term expiring at the 2024 annual meeting of stockholders. The Board was increased from nine to ten members, and Class II was increased from three to four directors. The company also agreed to nominate Mr. Stafman for election at the 2024 annual meeting and to cooperate with Sachem Head on selecting a successor if he leaves the Board. The agreement includes standstill, voting and confidentiality commitments from Sachem Head and a customary mutual non-disparagement provision. Twilio's obligations regarding Mr. Stafman terminate in certain circumstances, including if Sachem Head's aggregate net long position falls below 50% of its beneficial ownership of Class A common stock as of the agreement date. The agreement remains effective until the later of 30 calendar days after Mr. Stafman (or any replacement) leaves the Board and one calendar day after the conclusion of the 2025 annual meeting. Mr. Stafman will receive standard non-employee director compensation, including an initial grant of restricted stock units valued at approximately $575,000 that vests annually over three years. CEO Khozema Shipchandler said the company is positioned to pursue AI opportunities by converging its data capabilities with its Communications solutions. Twilio also plans to hold an investor day within the next twelve months to discuss strategy and share medium-term financial targets. The company has filed a proxy statement and WHITE proxy card in connection with its 2024 annual meeting.

Apr 1, 2024 8-K

Twilio 8-K Report, Regulation FD Disclosure (Mar 5, 2024)

Twilio Inc. (NYSE: TWLO) announced on March 5, 2024 that it has concluded an operational review of its Segment business, which represented 7% of Twilio's 2023 revenue. After considering alternatives including a sale of the business, the Board and management determined that retaining Segment and pursuing near-term operational changes is expected to create the most shareholder value. The company set a goal of achieving break-even non-GAAP income from operations for Segment by Q2 2025, with non-GAAP operating profitability thereafter. Twilio also plans to accelerate its path to consolidated GAAP operating profitability to Q4 2025. The company provided FY 2024 targets of 5%-10% organic year-over-year revenue growth and non-GAAP income from operations of $550 million to $600 million, which include an estimated $90 million of incremental expenses tied to a new employee cash bonus program aimed at reducing stock-based compensation over time. These targets replace the medium-term framework provided on May 9, 2023. Twilio affirmed its first-quarter 2024 guidance given on February 14, 2024. Thomas Wyatt, formerly of People.ai, was appointed President of Segment effective March 11, 2024. Separately, the Board authorized an additional $2 billion share repurchase program expiring December 31, 2024, on top of the $1 billion program authorized in 2023. Twilio has completed almost $800 million under the initial program and targets roughly $2.2 billion of total further repurchases through the end of 2024, subject to legal requirements, price, and market conditions.

Mar 5, 2024 10-K

Twilio Annual Report, Year Ended Dec 31, 2023

Twilio Inc. reported 2023 revenue of $4.15 billion, up from $3.83 billion in 2022, with Communications revenue of $3.86 billion and Segment revenue of $295.3 million. The company remained unprofitable on a GAAP basis, with a net loss of $1.02 billion in 2023 versus $1.26 billion in 2022, though non-GAAP income from operations was $533.0 million compared with a loss of $4.5 million in 2022. Active Customer Accounts rose to over 305,000, while Dollar-Based Net Expansion Rate declined to 103% from 121%, and the Segment Dollar-Based Net Expansion Rate was 97%. The company undertook substantial restructuring, cutting its workforce by approximately 17% in February 2023 and approximately 5% in December 2023, after an 11% reduction in September 2022. Restructuring costs were $165.7 million and impairment of long-lived assets was $320.5 million, including a $285.7 million impairment of Segment intangible assets. An operational review of the Segment business is expected to be completed in March 2024, and Jeff Lawson resigned as CEO in January 2024, succeeded by Khozema Shipchandler. Capital position includes cash and cash equivalents of $655.9 million and short-term marketable securities of $3.4 billion, against $1.0 billion of senior notes due 2029 and 2031. The company repurchased $672.1 million of stock in 2023 under a $1.0 billion authorization, with $327.9 million remaining, and reported an accumulated deficit of $5.07 billion as of year-end.

Feb 27, 2024 8-K

Twilio 8-K Report, Financial Results (Feb 14, 2024)

Twilio Inc. (NYSE: TWLO) reported fourth quarter and full year 2023 results on February 14, 2024, as described in Exhibit 99.1, a press release. Fourth quarter revenue was $1.08 billion, up 5% reported and 8% organic year-over-year. Full year revenue was $4.15 billion, up 9% reported and 10% organic. GAAP loss from operations was $361.7 million for the quarter and $876.5 million for the full year, while non-GAAP income from operations was $172.6 million and $533.0 million, respectively. Full year net cash provided by operating activities was $414.8 million and free cash flow was $363.5 million. The filing highlights several items relevant to investors. Twilio recorded a $285.7 million impairment related to intangible assets from the Segment acquisition, and management is conducting an operational review of the Segment business unit, with details expected in March 2024. Twilio also disclosed a leadership change, with Khozema Shipchandler succeeding Jeff Lawson as CEO effective January 8, 2024. Dollar-based net expansion rate declined to 103% for the full year 2023 from 121% in 2022. For guidance, Twilio initiated first quarter 2024 outlook calling for revenue of $1,025 million to $1,035 million and non-GAAP income from operations of $120 million to $130 million. The company expects full-year 2024 non-GAAP income from operations to at least exceed 2023 levels, with a fuller outlook to follow the Segment review. The company also had $730 million of its $1.0 billion share repurchase program completed as of the release date.

Feb 14, 2024 8-K

Twilio 8-K Report, Bylaw Amendment (Feb 9, 2024)

On February 8, 2024, the Board of Directors of Twilio Inc. approved and adopted the Third Amended and Restated Bylaws, effective immediately upon approval. The amendments are described as intended to enhance corporate governance and facilitate stockholder input in director elections, and to reflect recent developments in Delaware law. The main changes concern stockholder director nominations and business proposals. The filing revises the definition of "Acting in Concert" so that persons are deemed to be acting in concert only if they have an agreement, arrangement or understanding regarding the nomination or business proposed at a meeting. It also removes "any other person or entity" from the parties whose arrangements must be disclosed for business proposals, removes disclosure requirements for "Responsible Persons" and certain other interests, and adds a definition of "principal competitor" for disclosures about interests in competitors. Stockholder meeting mechanics on adjournment and preparation of stockholder lists were also revised to conform to recent amendments to the Delaware General Corporation Law. For investors, this is a governance update rather than a financial event, and the filing contains no financial results or figures. The full text of the amended bylaws is attached as Exhibit 3.1 and should be reviewed for specifics.

Feb 9, 2024 8-K

Twilio 8-K Report, Financial Results (Jan 8, 2024)

On January 8, 2024, Twilio Inc. announced a CEO transition. Jeff Lawson resigned as CEO, Board member and Board Chair effective January 8, 2024, and the Board appointed Khozema Shipchandler, previously President, Twilio Communications, as CEO and a director effective the same day. Jeff Epstein, a director and Lead Independent Director since 2017, was appointed Board Chair. The company said Lawson's Board resignation was not due to any disagreement with the company on its operations, policies or practices. Shipchandler's offer letter sets a base salary of $1,100,000, an initial target bonus of 100% of base salary, an RSU award of approximately $10,000,000 and a PSU award of approximately $15,000,000. He will also participate in the amended CEO Severance Plan, which provides 18 months of base salary on a qualifying termination outside the change in control period and 24 months within it. Lawson's separation agreement provides a lump sum of $99,840, full vesting of time-based awards covering 68,124 Class A shares, an extended option exercise period and 18 months of COBRA premium payments. Twilio also expects fourth-quarter 2023 revenue and non-GAAP income from operations, and full-year 2023 non-GAAP income from operations, to be above the top end of the guidance ranges it gave on November 8, 2023. The company will report full results on February 14, 2024. The press release cites free cash flow margin of 19% for the quarter ended September 30, 2023.

Jan 8, 2024 8-K

Twilio 8-K Report, Exit or Disposal Costs (Dec 4, 2023)

On December 4, 2023, Twilio Inc. committed to a further workforce restructuring plan (the "December Plan") intended to streamline operations and accelerate its path to delivering profitable growth. The plan includes eliminating approximately 5% of the company's current workforce. The company estimates it will incur approximately $25-$35 million in charges, consisting of employee transition, notice period and severance payments, employee benefits, and related facilitation costs, substantially all of which are expected to result in future cash outlays. The majority of these charges are expected in the fourth quarter of 2023, with execution, including cash payments, substantially complete by the end of the first quarter of 2024, though local consultation requirements may extend this in certain countries. The filing also states that Twilio Flex, the cloud contact center product, will be reported within the Twilio Communications segment in future periods, with prior periods recast for comparison. In the accompanying letter from CEO Jeff Lawson, the company says Segment go-to-market spending is being right-sized because growth has not met expectations, Flex go-to-market is being consolidated into Communications, and standalone Programmable Video is being end-of-lifed in favor of partnering with video industry leaders. The company reaffirmed its fourth-quarter and fiscal year 2023 guidance provided on November 8, 2023. The December Plan costs will be included in GAAP results but excluded from certain non-GAAP results.

Dec 4, 2023 8-K

Twilio 8-K Report, Executive Changes (Dec 1, 2023)

Twilio Inc. filed a Form 8-K on December 1, 2023 under Item 5.02 (Compensatory Arrangements of Certain Officers) to report that its Compensation and Talent Management Committee of the Board of Directors approved the Company's Executive Incentive Compensation Plan on November 30, 2023. The Plan allows the Company to provide incentive awards to selected employees, including named executive officers, through a target award and bonus pool structure tied to performance goals that may differ by participant and by award. Under the Plan, the Administrator (by default the Compensation and Talent Management Committee) has sole discretion to set target awards and bonus pools, and may increase, reduce, or eliminate actual awards before payment. Awards are generally paid in cash as a lump sum, though the Administrator may settle them with equity awards carrying vesting terms it sets. Participants generally must be employed on the payment date unless the Administrator decides otherwise. The Administrator may amend, suspend, or terminate the Plan, but it cannot materially alter or impair earned awards without the participant's consent. The filing contains no financial results or quantified compensation amounts. The full Plan is attached as Exhibit 10.1, and the filing also includes the cover page interactive data file (Exhibit 104).

Dec 1, 2023 10-Q

Twilio Quarterly Report for Q3 Ended Sep 30, 2023

Twilio Inc. reported third-quarter 2023 revenue of $1.03 billion, up from $983.0 million a year earlier, while net loss narrowed to $141.7 million from $482.3 million. Loss from operations was $108.9 million versus $457.0 million in the prior-year quarter, reflecting lower personnel costs after the September 2022 and February 2023 workforce reductions, and the company's non-GAAP income from operations was $136.4 million compared with a loss of $35.1 million. For the nine months, net loss was $650.0 million against $1.03 billion, and operating cash flow turned positive at $192.2 million compared with cash used of $195.9 million a year earlier. The company reorganized into two reportable segments, Twilio Communications and Twilio Data & Applications. Communications revenue grew 5% in the quarter to $906.7 million, while Data & Applications revenue grew 9% to $127.0 million, with its Dollar-Based Net Expansion Rate at 96% versus 101% consolidated. Active Customer Accounts reached 306,000 as of September 30, 2023, compared with 280,000 a year earlier, and the consolidated Dollar-Based Net Expansion Rate was 101%, down from 122%. Balance-sheet liquidity remained substantial, with cash and cash equivalents of $677.9 million and short-term marketable securities of $3.2 billion as of September 30, 2023. The company repurchased $551.0 million of Class A common stock in the nine months, leaving approximately $449.0 million available under a $1.0 billion program that expires December 31, 2024. Investors should also note the San Francisco Telephone Users Tax assessment, which the filing says is subject to a settlement approved by the Board of Supervisors on November 7, 2023 and pending before the Mayor, and the $46.2 million impairment of a 2021 strategic investment.

Nov 9, 2023 8-K

Twilio 8-K Report, Financial Results (Nov 8, 2023)

Twilio Inc. (NYSE: TWLO) reported third quarter 2023 results for the quarter ended September 30, 2023, per a press release furnished as Exhibit 99.1. Revenue was $1.03 billion, up 5% year-over-year, with Communications revenue of $906.7 million (up 5%) and Data & Applications revenue of $127.0 million (up 9%). Total organic revenue growth was 8%. GAAP loss from operations narrowed to $108.9 million from $457.0 million a year earlier, while non-GAAP income from operations was $136.4 million, compared with a non-GAAP loss of $35.1 million in the prior-year quarter. GAAP net loss per share was $0.78, and non-GAAP diluted net income per share was $0.58. The company raised its full-year 2023 non-GAAP income from operations guidance to $475 to $485 million and initiated fourth-quarter guidance calling for revenue of $1,030 to $1,040 million, 1% to 2% year-over-year growth, and non-GAAP income from operations of $115 to $125 million. Key metrics included more than 306,000 Active Customer Accounts, versus more than 280,000 a year earlier, and a Dollar-Based Net Expansion Rate of 101%, down from 122%. The company stated it had completed over $620 million of repurchases under its $1.0 billion share repurchase program, which expires December 31, 2024, and that it divested its ValueFirst business on July 3, 2023. The filing also disclosed that Elena Donio, President of Twilio Data & Applications, will resign effective December 15, 2023, and remain as an employee in an advisory role through a transition expected to conclude in the first quarter of 2024. Until a replacement is appointed, CEO Jeff Lawson will run the Data & Applications business unit.

Nov 8, 2023 10-Q

Twilio Quarterly Report for Q2 Ended Jun 30, 2023

Twilio Inc. reported a second-quarter 2023 net loss of $166.2 million on revenue of $1.04 billion (up 10% from $943.4 million in the prior-year quarter), compared with a net loss of $322.8 million a year earlier. Loss from operations narrowed to $141.8 million from $311.9 million, and total operating expenses fell to $647.6 million from $757.2 million. Gross profit rose to $505.8 million, and non-GAAP income from operations was $120.1 million versus a non-GAAP loss of $7.3 million in the prior-year quarter. Results included $14.9 million of restructuring costs, $9.3 million of impairment charges on closed offices, a $32.4 million share of losses from an equity method investment, and a $28.8 million loss on net assets held for sale tied to the ValueFirst divestiture. For the six months ended June 30, 2023, the company reported a net loss of $508.3 million on revenue of $2.04 billion. Cash used in operating activities was $14.2 million, compared with $80.1 million a year earlier. As of June 30, 2023, cash and cash equivalents were $675.1 million and short-term marketable securities were $3.0 billion. The company repurchased $495.0 million of Class A common stock in the six months ended June 30, 2023, leaving approximately $505.0 million available under a $1.0 billion authorization that expires December 31, 2024. Total long-term debt, net was $988.2 million. The company reorganized into two business units and two reportable segments, Twilio Communications and Twilio Data & Applications, and recorded a restructuring program that eliminated approximately 17% of its workforce. Communications revenue was $913.1 million in the quarter, up 10%, and Data & Applications revenue was $124.6 million, up 12%. Dollar-Based Net Expansion Rate was 103% consolidated, and Active Customer Accounts reached 304,000.

Aug 9, 2023 8-K

Twilio 8-K Report, Financial Results (Aug 8, 2023)

Twilio Inc. (NYSE: TWLO) reported second quarter 2023 results for the quarter ended June 30, 2023, in a press release furnished as Exhibit 99.1 to this Form 8-K. Total revenue was $1.04 billion ($1,037,761 thousand), up 10% year-over-year, with Communications revenue of $913.1 million and Data & Applications revenue of $124.6 million. GAAP loss from operations narrowed to $141.8 million from $311.9 million a year earlier, while non-GAAP income from operations was $120.1 million, compared with a non-GAAP loss of $7.3 million in the second quarter of 2022. GAAP net loss attributable to common stockholders was $166.2 million, or $0.91 per share, compared with $1.77 per share a year earlier. Non-GAAP net income per diluted share was $0.54. Key operating metrics showed more than 304,000 Active Customer Accounts as of June 30, 2023, up from more than 275,000, while Dollar-Based Net Expansion Rate declined to 103% from 123%. The company had 6,428 employees as of June 30, 2023. The filing also notes the divestiture of its IoT business in June 2023 and its ValueFirst business in July 2023, and that the company completed $500 million of share repurchases under a $1.0 billion program that expires December 31, 2024. Twilio initiated third quarter 2023 guidance calling for revenue of $980 to $990 million and non-GAAP income from operations of $75 to $85 million, and raised its full-year 2023 non-GAAP income from operations guidance to $350 to $400 million. The company also reported a share of losses from its equity method investment of $32.4 million in the quarter and restructuring costs of $14.9 million.

Aug 8, 2023 8-K

Twilio 8-K Report, Rights Modification (Jun 29, 2023)

Twilio Inc. filed this Current Report on Form 8-K on June 29, 2023 to report the automatic conversion of its Class B Common Stock into Class A Common Stock. Effective June 28, 2023, each outstanding share of Class B Common Stock converted one-for-one into Class A Common Stock under the terms of the company's Amended and Restated Certificate of Incorporation, which set a seventh-anniversary conversion trigger. Immediately after the conversion, approximately 181 million shares of Class A Common Stock were outstanding, and no additional Class B shares will be issued. The main investor-relevant change is to governance. Former Class B holders, who previously had ten votes per share, now hold one vote per share like all other Class A holders, and separate class voting rights no longer apply. The filing states that economic interests, including dividends, liquidation rights and treatment in a change of control or merger, were unchanged, and that total outstanding capital stock was unaffected. To finalize the change, the company filed a Certificate of Retirement with the Delaware Secretary of State on June 28, 2023. This retires the converted Class B shares, which cannot be reissued, and reduces total authorized capital stock by the number of retired shares. Outstanding 2008 Stock Option Plan options exercisable for Class B shares remain unchanged, except that they now convert into rights to receive Class A shares. The Class A stock continues to trade on the NYSE under the ticker TWLO with the same CUSIP.

Jun 29, 2023 8-K

Twilio 8-K Report, Shareholder Vote Results (Jun 14, 2023)

Twilio Inc. held its 2023 Annual Meeting of Stockholders on June 13, 2023, with holders of 152,439,186 shares of Class A and Class B Common Stock present in person or by proxy. Those shares represented a total of 238,750,743 votes, more than 87% of the eligible votes as of the April 17, 2023 record date, which satisfied the quorum requirement. Class B shares carried ten votes each and Class A shares carried one, and the two classes voted together as a single class on all matters. Stockholders voted on three proposals. They elected Charles Bell, Jeffrey Immelt and Erika Rottenberg as Class I directors to serve until the 2026 annual meeting. Bell received the most support, with 216,641,218 votes for and 1,142,284 withheld. Stockholders also ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2023, with 237,960,579 votes for and 614,099 against. In a non-binding advisory vote, stockholders approved the compensation of the named executive officers, with 148,461,146 votes for, 68,453,460 against and 868,896 abstaining. The filing does not report any changes to the company's governance or operations. Its main significance for investors is the level of opposition to the say-on-pay proposal. The 68,453,460 votes against it were substantial, though the proposal still passed. Details of each proposal are in the company's definitive proxy statement filed with the SEC on April 26, 2023.

Jun 14, 2023 10-Q

Twilio Quarterly Report for Q1 Ended Mar 31, 2023

Twilio Inc. reported a first-quarter 2023 net loss of $342.1 million on revenue of $1.01 billion, compared with a net loss of $221.6 million on revenue of $875.4 million in the first quarter of 2022. Results were weighed down by $121.9 million in restructuring costs tied to the February 2023 plan, which eliminated approximately 17% of the workforce, along with a $21.8 million impairment of long-lived assets from office closures, a $46.2 million impairment of a strategic investment, and a $30.4 million share of losses from an equity method investment. Non-GAAP income from operations was $103.8 million, or 10% operating margin, versus $5.0 million, or 1%, a year earlier, as operating expenses declined in sales and marketing and research and development. Active Customer Accounts rose to over 300,000 from over 268,000, and the Dollar-Based Net Expansion Rate was 106%, down from 127%. Cash used in operating activities was $97.9 million in the quarter, and cash and cash equivalents stood at $634.8 million alongside $3.3 billion of short-term marketable securities at March 31, 2023. Total long-term debt, net, was $987.8 million, consisting of the 3.625% 2029 Notes and 3.875% 2031 Notes. The Board authorized a share repurchase program of up to $1.0 billion through December 31, 2024; the company repurchased 1.9 million Class A shares for $125.0 million in the quarter and about $750.0 million remained available as of the filing date. The filing also highlights the February 2023 reorganization into two business units, Twilio Data & Applications and Twilio Communications, with the company expecting to move to two reportable segments during 2023. Management stated that it still had one operating and reportable segment in the first quarter and noted that goodwill impairment testing may result in material charges once the new reporting units are established. Investors should also note the San Francisco tax assessment of $38.8 million under litigation and the Oi SA bankruptcy exposure on collections.

May 10, 2023 8-K

Twilio 8-K Report, Financial Results (May 9, 2023)

Twilio Inc. reported first quarter 2023 results in a press release furnished as Exhibit 99.1 to this Form 8-K. Revenue was $1.01 billion ($1,006,564 thousand), up 15% year-over-year, and organic revenue also grew 15%. The company recorded a GAAP loss from operations of $264.1 million, which includes $121.9 million in severance and other expenses tied to the February restructuring and $21.8 million in lease impairment charges from office closures. Net loss attributable to common stockholders was $342.1 million, or $1.84 per share. Non-GAAP income from operations was $103.8 million, compared with $5.0 million in the first quarter of 2022, and non-GAAP diluted earnings per share were $0.47. The filing highlights a user base of more than 300,000 Active Customer Accounts as of March 31, 2023, up from more than 268,000 a year earlier. The Dollar-Based Net Expansion Rate declined to 106% from 127%. The company also reported other charges in the quarter, including a $30.4 million share of losses from an equity method investment and a $46.2 million impairment of strategic investments. Twilio repurchased shares under a program of up to $1.0 billion, with repurchases to date representing approximately 25% of the total program amount, and $114.99 million of share repurchases appear in the quarter's cash flow statement. For the second quarter ending June 30, 2023, Twilio guided to revenue of $980 million to $990 million, 4% to 5% year-over-year growth, and non-GAAP income from operations of $65 million to $75 million. Full-year 2023 non-GAAP income from operations guidance is $275 million to $350 million, with the low end of the range raised from the February 15, 2023 guidance. Cash used in operating activities was $97.9 million for the quarter.

May 9, 2023 8-K

Twilio 8-K Report, Executive Changes (Mar 30, 2023)

Twilio Inc. (NYSE: TWLO) filed this Current Report on Form 8-K to disclose two board changes. On March 27, 2023, director Richard Dalzell notified the company that he will not stand for re-election at the 2023 Annual Meeting of Stockholders; he will continue serving until his term expires at that meeting, and the filing states the decision did not result from any disagreements with the company. On March 28, 2023, the Board appointed Charles Bell as a Class I director on the recommendation of its Nominating and Corporate Governance Committee. The filing states that Bell will receive the company's standard non-employee director compensation, including an initial grant of restricted stock units with a value of approximately $575,000 that vests annually over three years subject to continued service. He will also sign the company's standard indemnification agreement. Bell is currently Executive Vice President of Security, Compliance, Identity, and Management at Microsoft, and previously served as Senior Vice President of Amazon Web Services, according to the attached press release. After the Annual Meeting, the Board will return to nine directors, eight of whom the press release describes as independent. The change adds cybersecurity expertise to the Board, and the company's press release attributes the appointment to its effort to strengthen security expertise and focus on growth potential. The filing contains no financial results.

Mar 30, 2023 10-K

Twilio Annual Report, Year Ended Dec 31, 2022

Twilio Inc. reported 2022 revenue of $3.83 billion, up 35% from $2.84 billion in 2021, driven by a Dollar-Based Net Expansion Rate of 121% and growth in Active Customer Accounts to over 290,000. However, the company posted a net loss of $1.26 billion for 2022 (compared with $949.9 million in 2021), with a GAAP gross margin of 47% and a GAAP loss from operations of $1.21 billion. Non-GAAP income from operations was a loss of $4.5 million, roughly breakeven, as the company works toward sustained profitability. Cash flow from operations was negative $254.4 million, and the company ended 2022 with $651.8 million in cash and cash equivalents and $3.5 billion in short-term marketable securities. Management announced a significant restructuring in February 2023. Twilio is reorganizing into two business units, Twilio Communications and Twilio Data & Applications (previously Software), and has committed to a workforce reduction of approximately 17% on top of the 11% reduction from September 2022. The February plan is estimated to cost $100.0 to $135.0 million, and the company is closing additional offices. The company also authorized a $1.0 billion share repurchase program expiring December 31, 2024. Management intends to prioritize efficiencies and profitability in the Communications business while accelerating growth in Data & Applications. Key risks highlighted in the filing include macroeconomic pressure on usage-based revenue, rising network service provider fees (such as A2P SMS fees), dependence on Amazon Web Services for platform operations, and a December 2022 security incident affecting approximately 209 customers. The company also faces a San Francisco tax assessment lawsuit with a trial expected in summer 2023, and it has $1.0 billion of senior notes outstanding. The dual-class share structure is set to convert to a single class by the Final Conversion Date of June 28, 2023.

Feb 27, 2023 8-K

Twilio 8-K Report, Executive Changes (Feb 23, 2023)

Twilio Inc. filed this Form 8-K under Items 5.02 and 9.01 to disclose executive compensation and severance actions taken by its Compensation and Talent Management Committee on February 22, 2023. The Committee approved a form of Cash-Based Award Agreement under the Company's 2016 Stock Option and Incentive Plan, and granted cash-based awards tied to non-GAAP operating profit targets for fiscal year 2023. Target Cash Payments were $3,000,000 for Khozema Shipchandler, $3,000,000 for Elena Donio, $2,750,000 for Aidan Viggiano, who becomes Chief Financial Officer effective March 1, 2023, and $1,500,000 for Dana Wagner. Fifty percent of each Cash Payment is earnable at the threshold performance target, and 100% at target or above. The Committee also extended the term of the Chief Executive Officer Severance Plan for three years and approved a new Senior Executive Severance Plan, effective February 22, 2023, for an initial three-year term, covering executives including Shipchandler, Donio and Wagner. Both plans provide cash severance and benefits on qualifying terminations outside and within a change in control period. Within a change in control period, the plans provide full accelerated vesting of equity awards, with performance-based awards deemed satisfied at target. The plans include a best-after-tax provision for Section 280G excise tax and no excise tax gross-up. For investors, the filing shows the level of cash incentive tied to fiscal 2023 non-GAAP operating profit and the enhanced change-in-control protections for senior leadership. The filing does not report any financial results for the period.

Feb 23, 2023 8-K

Twilio 8-K Report, Financial Results (Feb 15, 2023)

Twilio Inc. (NYSE: TWLO) reported fourth quarter and full year 2022 results on February 15, 2023, with fourth quarter revenue of $1.02 billion, up 22% year-over-year, and full year revenue of $3.83 billion, up 35% year-over-year. GAAP loss from operations for the full year was $1.2 billion, compared with $915.6 million in 2021, while non-GAAP loss from operations was $4.5 million versus non-GAAP income of $2.5 million a year earlier. Fourth quarter non-GAAP income from operations was $32.9 million, compared with a non-GAAP loss of $27.2 million in the fourth quarter of 2021. The company announced a workforce reduction of approximately 17% and further expense rationalization, moved to a two-business-unit structure (Twilio Communications and Twilio Data & Applications), and named Aidan Viggiano Chief Financial Officer effective March 1, 2023. Chief Product Officer Eyal Manor is resigning effective February 28, 2023. The board authorized a share repurchase program of up to $1.0 billion of Class A common stock, expiring December 31, 2024. For the first quarter of 2023, Twilio guided to revenue of $995 million to $1.005 billion and non-GAAP profit from operations of $45 million to $55 million. For full year 2023, it guided to non-GAAP profit from operations of $250 million to $350 million, including an estimated $10 million one-time, non-cash benefit from terminating the employee sabbatical program.

Feb 15, 2023