TWILIO INC TWLO
We envision a world in which every digital interaction is amazing. By combining our leading communications capabilities with rich contextual data and artificial intelligence ("AI"), we provide the infrastructure for businesses of all sizes to revolutionize how they engage with their customers by delivering seamless, trusted, and personalized customer experiences at scale.
We offer highly customizable communications application programming interfaces ("APIs") that enable developers to embed numerous forms of messaging, voice, email, and video interactions into their customer-facing applications, as well as software products that target specific engagement needs, including our digital engagement centers, marketing campaigns, and user authentication and identity solutions. This combination of flexible APIs and software solutions, together with our customer data capabilities, helps businesses of all sizes and across numerous industries to benefit from smarter and more streamlined engagement at every step of the customer journey, including reduced customer acquisition costs, lasting loyalty, and increased customer value. The value proposition of our offerings has become stronger and our products have become more strategic to our customers as businesses are increasingly prioritizing building more personalized and differentiated customer engagement experiences through digital channels.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.07B | $4.46B | $4.15B | $3.83B | $2.84B | $1.76B | $1.13B | $650.1M | $399.0M | $277.3M |
| Cost of revenue | $2.59B | $2.18B | $2.11B | $2.01B | $1.45B | $846.1M | $525.6M | $300.8M | $182.9M | $120.5M |
| Gross profit | $2.48B | $2.28B | $2.04B | $1.81B | $1.39B | $915.7M | $608.9M | $349.2M | $216.1M | $156.8M |
| R&D | $1.02B | $1.01B | $942.8M | $1.08B | $789.2M | $530.5M | $391.4M | $171.4M | $120.7M | $77.9M |
| SG&A | $410.7M | $449.1M | $468.5M | $517.4M | $472.5M | $310.6M | $218.3M | $117.5M | $60.8M | $51.1M |
| Total operating expenses | $2.32B | $2.33B | $2.92B | $3.02B | $2.31B | $1.41B | $978.7M | $464.5M | $282.2M | $198.1M |
| Operating income | $157.8M | -$53.7M | -$876.5M | -$1.21B | -$915.6M | -$492.9M | -$369.8M | -$115.2M | -$66.1M | -$41.3M |
| Pre-tax income | $55.1M | -$88.6M | -$996.7M | -$1.24B | -$960.9M | -$504.4M | -$362.2M | -$121.2M | -$63.0M | -$41.0M |
| Income tax | $21.3M | $20.8M | $18.7M | $12.5M | $11.0M | $13.4M | $55.2M | $791.0K | $705.0K | $326.0K |
| Net income | $34.0M | -$109.0M | -$1.01B | -$1.26B | -$950.0M | -$491.0M | -$307.1M | -$121.9M | -$63.7M | -$41.3M |
| EPS, basic | 0.22 | -0.66 | -5.54 | -6.86 | -5.45 | -3.35 | -2.36 | — | — | — |
| EPS, diluted | 0.21 | -0.66 | -5.54 | -6.86 | -5.45 | -3.35 | -2.36 | -1.26 | -0.70 | -0.78 |
| Shares, diluted (wtd. avg.) | $159.8M | $165.9M | $183.3M | $183.0M | $174.2M | $146.7M | $130.1M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $682.3M | $421.3M | $655.9M | $656.1M | $1.48B | $933.9M | $253.7M | $505.3M | $120.8M | $314.3M |
| Short-term investments | $1.79B | $1.96B | $3.36B | $3.50B | $3.88B | $2.11B | $1.60B | $261.1M | $175.6M | $0 |
| Receivables | $636.7M | $588.5M | $562.8M | $547.5M | $388.2M | $251.2M | $154.1M | $97.7M | $43.1M | $26.2M |
| Total current assets | $3.58B | $3.45B | $4.90B | $4.98B | $5.93B | $3.37B | $2.06B | $872.9M | $353.3M | $353.4M |
| Property, plant and equipment | — | — | — | — | — | — | $141.3M | $63.5M | $50.5M | $37.6M |
| Goodwill | $5.29B | $5.24B | $5.24B | $5.28B | $5.26B | $4.60B | $2.30B | $38.2M | $17.9M | $3.6M |
| Other intangibles | $142.1M | $238.5M | $350.5M | $849.9M | $1.05B | $966.6M | $460.8M | $27.6M | $20.1M | $10.3M |
| Total assets | $9.77B | $9.87B | $11.61B | $12.56B | $13.00B | $9.49B | $5.15B | $1.03B | $449.8M | $412.7M |
| Accounts payable | $85.1M | $100.2M | $119.6M | $124.6M | $93.3M | $60.0M | $39.1M | $18.5M | $11.1M | $4.2M |
| Total current liabilities | $887.0M | $820.2M | $738.3M | $808.2M | $703.5M | $448.3M | $247.2M | $137.8M | $78.5M | $73.7M |
| Long-term debt | $992.3M | $990.6M | $989.0M | $987.4M | $985.9M | $302.1M | — | — | — | — |
| Total liabilities | $1.95B | $1.91B | $1.88B | $2.01B | $1.97B | $1.03B | $871.1M | $590.5M | $89.9M | $83.2M |
| Retained earnings | -$8.34B | -$7.52B | -$5.07B | -$3.38B | -$2.12B | -$1.17B | -$678.8M | -$371.7M | -$250.4M | -$186.7M |
| Total equity | $7.82B | $7.95B | $9.73B | $10.56B | $11.03B | $8.45B | $4.28B | $438.2M | $359.8M | $329.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.00B | $716.2M | $414.8M | -$254.4M | -$58.2M | $32.7M | $14.0M | $8.0M | -$3.3M | $10.1M |
| Depreciation and amortisation | $195.4M | $206.0M | $284.4M | $279.1M | $258.4M | $149.7M | $110.4M | $26.1M | $18.8M | $8.3M |
| Stock-based compensation | $600.4M | $616.6M | $675.9M | $798.6M | $632.3M | $360.9M | $264.3M | $93.3M | $49.6M | $24.2M |
| Capital expenditure | — | — | — | — | $46.0M | $25.8M | $45.4M | $5.1M | $9.5M | $14.2M |
| Investing cash flow | $80.9M | $1.37B | $228.6M | -$616.5M | -$2.49B | -$845.9M | -$1.29B | -$139.4M | -$226.7M | -$35.0M |
| Financing cash flow | -$833.1M | -$2.31B | -$643.6M | $45.0M | $3.10B | $1.49B | $1.02B | $515.8M | $36.4M | $229.2M |
| Buybacks | $868.9M | $2.33B | $668.8M | $0 | $0 | — | $0 | $0 | $100.0K | $2.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-017444.
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