TWLO

MKT CAP:$22B

Twilio Inc.

Market Cap

$22B

Communication Services·Internet Content & Information·🇺🇸 United States·NYSE

Communication·Internet·🇺🇸·NYSE

Stock Price

$140.11+$1.75 (+1.26%)

Apr 17, 2026

Company Details

Twilio Inc., together with its subsidiaries, provides a cloud communications platform that enables developers to build, scale, and operate customer engagement within software applications in the United States and internationally. Its custom...

CEO

Khozema Z. Shipchandler

IPO Date

Jun 23, 2016

Website

www.twilio.com

Key Metrics TTM

Revenue

$5.1B

+13.7% YoY

Net Income

$34M

EPS (Diluted)

$0.19

Free Cash Flow

$1.0B

Revenue / Share

$33.26

Gross Margin

49.0%

Operating Margin

3.2%

Net Margin

0.7%

FCF Margin

20.4%

P/S

4.3x

P/E

646.0x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 24, 2026

$5.1B+13.7%EPS $0.21

Q4 2025

Feb 24, 2026

$1.4B+14.3%EPS -$0.30

Q3 2025

Oct 31, 2025

$1.3B+14.7%EPS $0.23

Q2 2025

Aug 8, 2025

$1.2B+13.5%EPS $0.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$875M	$406M	-$216M
Q2 22	$943M	$432M	-$303M
Q3 22	$983M	$458M	-$270M
Q4 22	$1.0B	$470M	-$205M
Q1 23	$1.0B	$471M	-$117M
Q2 23	$1.0B	$487M	-$112M
Q3 23	$1.0B	$496M	-$102M
Q4 23	$1.1B	$514M	-$50M
Q1 24	$1.0B	$531M	-$34M
Q2 24	$1.1B	$543M	-$19M
Q3 24	$1.1B	$567M	-$1M
Q4 24	$1.2B	$588M	$14M
Q1 25	$1.2B	$582M	$23M
Q2 25	$1.2B	$591M	$37M
Q3 25	$1.3B	$632M	$41M
Q4 25	$1.4B	$678M	$62M

Valuation

Quarter	P/S	P/E
Q1 22	9.3x	—
Q2 22	5.2x	—
Q3 22	3.5x	—
Q4 22	2.5x	—
Q1 23	3.0x	—
Q2 23	2.9x	—
Q3 23	2.6x	—
Q4 23	3.2x	—
Q1 24	2.5x	—
Q2 24	2.1x	—
Q3 24	2.5x	—
Q4 24	4.0x	—
Q1 25	3.3x	—
Q2 25	4.0x	941.3x
Q3 25	3.3x	237.7x
Q4 25	4.3x	640.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$18M	-$35M
Q2 22	-$63M	-$78M
Q3 22	-$116M	-$147M
Q4 22	-$58M	-$74M
Q1 23	-$98M	-$114M
Q2 23	$84M	$72M
Q3 23	$206M	$195M
Q4 23	$223M	$211M
Q1 24	$190M	$177M
Q2 24	$213M	$198M
Q3 24	$204M	$189M
Q4 24	$108M	$93M
Q1 25	$191M	$178M
Q2 25	$277M	$263M
Q3 25	$264M	$248M
Q4 25	$307M	$344M

Capital Expenditures

Quarter	CapEx
Q1 22	$17M
Q2 22	$16M
Q3 22	$31M
Q4 22	$16M
Q1 23	$17M
Q2 23	$12M
Q3 23	$11M
Q4 23	$12M
Q1 24	$13M
Q2 24	$16M
Q3 24	$15M
Q4 24	$15M
Q1 25	$13M
Q2 25	$14M
Q3 25	$16M
Q4 25	$37M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+48.4%	+38.8%
Q2 22	+41.0%	+43.3%
Q3 22	+32.8%	+29.4%
Q4 22	+21.6%	+9.6%
Q1 23	+15.0%	+3.0%
Q2 23	+10.0%	-7.7%
Q3 23	+5.2%	-9.4%
Q4 23	+5.0%	-8.5%
Q1 24	+4.0%	-3.9%
Q2 24	+4.3%	-4.2%
Q3 24	+9.7%	-0.1%
Q4 24	+11.0%	+4.9%
Q1 25	+12.0%	+6.4%
Q2 25	+13.5%	+8.1%
Q3 25	+14.7%	+11.0%
Q4 25	+14.3%	+10.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$155M	17.7%
Q2 22	$242M	25.7%
Q3 22	$209M	21.3%
Q4 22	$192M	18.8%
Q1 23	$171M	17.0%
Q2 23	$153M	14.8%
Q3 23	$185M	17.9%
Q4 23	$166M	15.5%
Q1 24	$159M	15.1%
Q2 24	$148M	13.6%
Q3 24	$155M	13.6%
Q4 24	$156M	13.0%
Q1 25	$139M	11.9%
Q2 25	$149M	12.1%
Q3 25	$158M	12.2%
Q4 25	$154M	11.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$240M	—	—	$381M
Q2 22	$279M	—	—	$455M
Q3 22	$284M	—	—	$444M
Q4 22	$274M	—	—	$401M
Q1 23	$238M	—	—	$350M
Q2 23	$226M	—	—	$373M
Q3 23	$241M	—	—	$357M
Q4 23	$235M	—	—	$328M
Q1 24	$250M	$112M	$214M	—
Q2 24	$243M	$114M	$218M	—
Q3 24	$261M	$106M	$213M	—
Q4 24	$253M	$117M	$169M	—
Q1 25	$254M	$92M	$212M	—
Q2 25	$243M	$102M	$221M	—
Q3 25	$262M	$108M	$221M	—
Q4 25	$269M	$109M	$222M	—

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$305M	$570M
Q2 22	$327M	$616M
Q3 22	$332M	$651M
Q4 22	$351M	$673M
Q1 23	$344M	$662M
Q2 23	$345M	$693M
Q3 23	$346M	$688M
Q1 24	$361M	$687M
Q2 24	$376M	$706M
Q3 24	$399M	$735M
Q4 24	$425M	$770M
Q1 25	$423M	$749M
Q2 25	$441M	$787M
Q3 25	$470M	$831M
Q4 25	$486M	$880M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.6B	$3.6B	$5.2B
Q2 22	$799M	$3.6B	$4.4B
Q3 22	$633M	$3.6B	$4.2B
Q4 22	$652M	$3.5B	$4.2B
Q1 23	$635M	$3.3B	$3.9B
Q2 23	$675M	$3.0B	$3.7B
Q3 23	$678M	$3.2B	$3.9B
Q4 23	$656M	$3.4B	$4.0B
Q1 24	$673M	$3.2B	$3.8B
Q2 24	$755M	$2.4B	$3.1B
Q3 24	$584M	$2.1B	$2.7B
Q4 24	$421M	$2.0B	$2.4B
Q1 25	$467M	$2.0B	$2.4B
Q2 25	$969M	$1.6B	$2.5B
Q3 25	$735M	$1.7B	$2.5B
Q4 25	$682M	$1.8B	$2.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	181M	+1.1%	+8.2%
Q2 22	182M	+0.8%	+5.2%
Q3 22	184M	+0.7%	+3.6%
Q4 22	185M	+0.8%	+3.5%
Q1 23	186M	+0.7%	+3.0%
Q2 23	183M	-1.6%	+0.6%
Q3 23	182M	-0.9%	-1.1%
Q4 23	182M	+0.0%	-1.8%
Q1 24	181M	-0.4%	-2.9%
Q2 24	170M	-6.0%	-7.2%
Q3 24	159M	-6.5%	-12.5%
Q4 24	166M	+4.3%	-8.7%
Q1 25	162M	-2.5%	-10.6%
Q2 25	160M	-1.3%	-6.2%
Q3 25	159M	-0.3%	+0.1%
Q4 25	152M	-4.3%	-8.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$111.3K	8K
Q2 22	$119.9K	8K
Q3 22	$125.0K	8K
Q4 22	$125.6K	8K
Q1 23	$123.4K	8K
Q2 23	$127.2K	8K
Q3 23	$126.7K	8K
Q4 23	$419.8K	3K
Q1 24	$408.5K	3K
Q2 24	$422.4K	3K
Q3 24	$442.3K	3K
Q4 24	$215.9K	6K
Q1 25	$211.8K	6K
Q2 25	$221.9K	6K
Q3 25	$234.9K	6K
Q4 25	$244.5K	6K

Revenue / Employee