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Twilio (TWLO) Financials

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$204.46 -2.17 (-1.05%)
Closing price 06/12/2026 03:59 PM Eastern
Extended Trading
$205.06 +0.60 (+0.30%)
As of 06/12/2026 07:54 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Twilio

Annual Income Statements for Twilio

This table shows Twilio's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -39 -41 -64 -122 -307 -491 -950 -1,256 -1,015 -109 34
Consolidated Net Income / (Loss)		 -36 -41 -64 -122 -307 -491 -950 -1,256 -1,015 -109 34
Net Income / (Loss) Continuing Operations		 -36 -41 -64 -122 -307 -491 -950 -1,256 -1,015 -109 34
Total Pre-Tax Income 		-35 -41 -63 -121 -362 -504 -961 -1,244 -997 -89 55
Total Operating Income		 -35 -41 -66 -115 -370 -493 -916 -1,205 -877 -54 158
Total Gross Profit		 92 157 216 349 609 916 1,391 1,814 2,044 2,278 2,479
Total Revenue		 167 277 399 650 1,134 1,762 2,842 3,826 4,154 4,458 5,067
Operating Revenue		 167 277 399 650 1,134 1,762 2,842 3,826 4,154 4,458 5,067
Total Cost of Revenue		 74 121 183 301 526 846 1,451 2,013 2,110 2,180 2,588
Operating Cost of Revenue		 74 121 183 301 526 846 1,451 2,013 2,110 2,180 2,588
Total Operating Expenses		 128 198 282 464 979 1,409 2,306 3,019 2,920 2,332 2,321
Selling, General & Admin Expense		 36 51 61 118 218 311 472 517 468 449 411
Marketing Expense		 49 65 101 176 369 567 1,045 1,248 1,023 861 873
Research & Development Expense		 43 78 121 171 391 531 789 1,079 943 1,009 1,020
Impairment Charge		 - - - - - 0.00 0.00 98 321 0.00 1.85
Restructuring Charge		 - - - - - 0.00 0.00 77 166 13 15
Total Other Income / (Expense), net		 0.01 0.32 3.07 -5.92 7.57 -12 -45 -38 -120 -35 -103
Interest & Investment Income		 - - - - - 0.00 0.00 -35 -122 -108 -182
Other Income / (Expense), net		 0.01 0.32 3.07 -5.92 7.57 -12 -45 -3.01 1.71 74 79
Income Tax Expense		 0.12 0.33 0.71 0.79 -55 -13 -11 13 19 21 21
Basic Earnings per Share		 ($2.19) ($0.78) ($0.70) ($1.26) ($2.36) ($3.35) ($5.45) ($6.86) ($5.54) ($0.66) $0.22
Weighted Average Basic Shares Outstanding		 17.75M 53.12M 91.22M 97.13M 130.08M 146.71M 174.18M 182.99M 183.33M 165.93M 152.99M
Diluted Earnings per Share		 ($2.19) ($0.78) ($0.70) ($1.26) ($2.36) ($3.35) ($5.45) ($6.86) ($5.54) ($0.66) $0.21
Weighted Average Diluted Shares Outstanding		 17.75M 53.12M 91.22M 97.13M 130.08M 146.71M 174.18M 182.99M 183.33M 165.93M 159.79M
Weighted Average Basic & Diluted Shares Outstanding		 17.75M 53.12M 91.22M 97.13M 130.08M 146.71M 181.52M 187.27M 182.06M 152.63M 151.51M

Quarterly Income Statements for Twilio

This table shows Twilio's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -142 -365 -55 -32 -9.73 -12 20 22 37 -46 90
Consolidated Net Income / (Loss)		 -142 -365 -55 -32 -9.73 -12 20 22 37 -46 90
Net Income / (Loss) Continuing Operations		 -142 -365 -55 -32 -9.73 -12 20 22 37 -46 90
Total Pre-Tax Income 		-140 -360 -45 -26 -3.65 -14 27 34 33 -38 102
Total Operating Income		 -109 -362 -44 -19 -4.89 14 23 37 41 57 108
Total Gross Profit		 516 531 544 556 579 600 582 603 632 662 684
Total Revenue		 1,034 1,076 1,047 1,083 1,134 1,195 1,172 1,228 1,300 1,366 1,407
Operating Revenue		 1,034 1,076 1,047 1,083 1,134 1,195 1,172 1,228 1,300 1,366 1,407
Total Cost of Revenue		 517 545 503 527 555 595 591 626 668 704 723
Operating Cost of Revenue		 517 545 503 527 555 595 591 626 668 704 723
Total Operating Expenses		 625 893 588 575 584 586 558 566 591 606 577
Selling, General & Admin Expense		 114 107 113 114 106 117 92 102 108 109 103
Marketing Expense		 263 239 215 218 216 217 212 221 221 220 212
Research & Development Expense		 242 236 260 243 262 253 254 243 262 260 262
Total Other Income / (Expense), net		 -31 2.07 -1.66 -7.21 1.24 -27 3.50 -3.40 -8.26 -95 -5.43
Interest & Investment Income		 -31 -28 -30 -24 -25 -29 -19 -25 -28 -110 -27
Other Income / (Expense), net		 0.00 30 28 17 27 1.74 23 22 19 15 22
Income Tax Expense		 1.75 5.75 10 5.62 6.08 -1.09 6.57 11 -4.56 8.09 12
Basic Earnings per Share		 ($0.78) ($2.01) ($0.31) ($0.19) ($0.06) ($0.10) $0.13 $0.15 $0.24 ($0.30) $0.59
Weighted Average Basic Shares Outstanding		 181.75M 183.33M 181.02M 170.22M 159.09M 165.93M 153.35M 153.23M 153.12M 152.99M 152.42M
Diluted Earnings per Share		 ($0.78) ($2.01) ($0.31) ($0.19) ($0.06) ($0.10) $0.12 $0.14 $0.23 ($0.28) $0.57
Weighted Average Diluted Shares Outstanding		 181.75M 183.33M 181.02M 170.22M 159.09M 165.93M 161.79M 159.69M 159.21M 159.79M 157.76M
Weighted Average Basic & Diluted Shares Outstanding		 181.04M 182.06M 171.17M 160.60M 153.38M 152.63M 152.67M 153.43M 151.61M 151.51M 151.77M

Annual Cash Flow Statements for Twilio

This table details how cash moves in and out of Twilio's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 76 204 -194 385 -252 680 548 -826 -0.15 -224 251
Net Cash From Operating Activities		 -19 10 -3.26 7.98 14 33 -58 -254 415 716 1,003
Net Cash From Continuing Operating Activities		 -19 10 -3.26 7.98 14 33 -58 -254 415 716 1,003
Net Income / (Loss) Continuing Operations		 -36 -41 -64 -122 -307 -491 -950 -1,256 -1,015 -109 34
Consolidated Net Income / (Loss)		 -36 -41 -64 -122 -307 -491 -950 -1,256 -1,015 -109 34
Depreciation Expense		 4.23 8.32 19 26 110 150 258 279 284 206 195
Amortization Expense		 - - 0.26 14 24 20 68 91 73 53 60
Non-Cash Adjustments To Reconcile Net Income		 9.59 26 50 101 232 444 748 1,023 1,289 795 823
Changes in Operating Assets and Liabilities, net		 2.93 17 -8.19 -11 -45 -91 -183 -392 -216 -229 -110
Net Cash From Investing Activities		 -12 -35 -227 -139 -1,286 -846 -2,490 -616 229 1,371 81
Net Cash From Continuing Investing Activities		 -12 -35 -227 -139 -1,286 -846 -2,490 -616 229 1,371 81
Purchase of Property, Plant & Equipment		 -10 -26 -27 -25 -67 -59 -90 -80 -51 -59 -58
Acquisitions		 -2.26 -9.29 -23 -31 123 -334 -492 -37 -5.77 0.00 -61
Purchase of Investments		 - - -293 -280 -2,038 -1,637 -3,523 -1,938 -1,953 -924 -1,051
Divestitures		 - - - - - - 0.00 0.00 38 0.00 0.00
Sale and/or Maturity of Investments		 - - 116 195 697 1,183 1,615 1,439 2,200 2,353 1,251
Net Cash From Financing Activities		 107 229 36 516 1,020 1,493 3,096 45 -644 -2,312 -833
Net Cash From Continuing Financing Activities		 107 229 36 516 1,020 1,493 3,096 45 -644 -2,312 -833
Repayment of Debt		 - - 0.00 -13 -11 -11 -8.30 -13 -16 -13 -5.31
Repurchase of Common Equity		 -22 -4.61 -0.53 - - -0.64 -0.69 -0.04 -669 -2,334 -869
Issuance of Common Equity		 - 226 0.00 0.00 1,037 1,514 1,903 60 44 37 41
Other Financing Activities, net		 3.41 8.07 37 -21 -5.41 -8.78 218 -1.10 -2.57 -2.00 -0.21
Effect of Exchange Rate Changes		 - - - 0.16 - 0.04 -0.19 0.06 0.11 0.00 0.00
Cash Interest Paid		 - - - 0.74 2.29 2.14 21 38 38 38 38
Cash Income Taxes Paid		 0.05 0.23 0.61 0.56 1.37 3.09 6.15 7.41 38 37 18

Quarterly Cash Flow Statements for Twilio

This table details how cash moves in and out of Twilio's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -4.47 -22 17 100 -171 -170 46 503 -246 -52 -141
Net Cash From Operating Activities		 206 223 190 213 204 108 191 277 264 272 153
Net Cash From Continuing Operating Activities		 206 223 190 213 204 108 191 277 264 272 153
Net Income / (Loss) Continuing Operations		 -142 -365 -55 -32 -9.73 -12 20 22 37 -46 90
Consolidated Net Income / (Loss)		 -142 -365 -55 -32 -9.73 -12 20 22 37 -46 90
Depreciation Expense		 73 65 53 52 51 50 50 50 48 48 34
Amortization Expense		 17 14 13 12 14 15 15 15 15 15 15
Non-Cash Adjustments To Reconcile Net Income		 255 500 199 185 191 219 165 181 202 274 164
Changes in Operating Assets and Liabilities, net		 3.41 8.52 -20 -4.69 -42 -163 -58 8.52 -39 -19 -150
Net Cash From Investing Activities		 -144 -137 190 785 267 129 -19 402 -162 -140 -41
Net Cash From Continuing Investing Activities		 -144 -137 190 785 267 129 -19 402 -162 -140 -41
Purchase of Property, Plant & Equipment		 -11 -12 -13 -16 -15 -15 -13 -14 -16 -15 -21
Acquisitions		 -5.60 - - - - - 0.00 - - - -0.69
Purchase of Investments		 -880 -561 -436 -154 -150 -184 -214 -195 -371 -271 -353
Sale and/or Maturity of Investments		 715 436 638 955 432 328 207 611 226 207 334
Net Cash From Financing Activities		 -67 -107 -363 -898 -643 -408 -126 -176 -348 -183 -253
Net Cash From Continuing Financing Activities		 -67 -107 -363 -898 -643 -408 -126 -176 -348 -183 -253
Repayment of Debt		 -3.96 -2.37 -4.83 -2.23 -3.15 -2.35 -2.25 -1.98 -1.03 -0.05 -0.06
Repurchase of Common Equity		 -64 -120 -357 -917 -641 -420 -126 -197 -347 -198 -253
Other Financing Activities, net		 -0.03 -0.03 -1.50 -0.47 -0.02 -0.02 2.71 -2.85 -0.08 - 0.52
Cash Interest Paid		 19 0.17 19 0.11 19 0.06 19 0.02 19 0.01 19
Cash Income Taxes Paid		 5.34 15 11 8.71 5.75 11 5.26 7.83 2.86 1.76 21

Annual Balance Sheets for Twilio

This table presents Twilio's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 158 413 450 1,029 5,151 9,487 12,999 12,564 11,610 9,865 9,771
Total Current Assets		 136 353 353 873 2,061 3,372 5,932 4,984 4,904 3,447 3,577
Cash & Equivalents		 109 306 115 487 254 934 1,479 652 656 421 682
Short-Term Investments		 - 0.00 176 261 1,599 2,106 3,878 3,503 3,356 1,963 1,788
Accounts Receivable		 19 26 43 98 154 251 388 548 563 589 637
Prepaid Expenses		 8.55 22 19 27 55 81 186 282 329 474 470
Plant, Property, & Equipment, net		 14 38 51 64 0.00 0.00 255 264 210 191 177
Total Noncurrent Assets		 6.98 22 46 92 3,089 6,115 6,811 7,316 6,496 6,227 6,017
Long-Term Investments		 - - - - - - 0.00 700 594 486 302
Goodwill		 3.17 3.57 18 38 2,297 4,595 5,263 5,284 5,243 5,243 5,292
Intangible Assets		 2.29 10 20 28 461 967 1,050 850 350 239 142
Other Noncurrent Operating Assets		 0.36 0.48 2.56 8.39 332 553 498 482 309 260 282
Total Liabilities & Shareholders' Equity		 158 413 450 1,029 5,151 9,487 12,999 12,564 11,610 9,865 9,771
Total Liabilities		 41 83 90 590 871 1,035 1,967 2,005 1,877 1,913 1,949
Total Current Liabilities		 40 74 79 138 247 448 704 808 738 820 887
Accounts Payable		 2.30 4.17 11 18 39 60 93 125 120 100 85
Accrued Expenses		 32 59 54 96 148 253 418 490 424 531 608
Current Deferred Revenue		 6.15 10 14 23 26 87 140 139 144 156 159
Other Current Liabilities		 - - - - 34 48 52 54 50 34 35
Total Noncurrent Liabilities		 0.45 9.54 11 453 624 586 1,264 1,197 1,139 1,092 1,062
Long-Term Debt		 - - - 434 458 302 986 987 989 991 992
Other Noncurrent Operating Liabilities		 0.45 9.54 11 18 157 267 278 210 150 102 70
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 117 329 360 438 4,279 8,453 11,031 10,559 9,733 7,953 7,822
Total Preferred & Common Equity		 117 329 360 438 4,279 8,453 11,031 10,559 9,733 7,953 7,822
Preferred Stock		 240 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -123 329 360 438 4,279 8,453 11,031 10,559 9,733 7,953 7,822
Common Stock		 22 516 608 809 4,953 9,613 13,169 14,056 14,798 15,476 16,148
Retained Earnings		 -145 -187 -250 -372 -679 -1,170 -2,120 -3,376 -5,066 -7,522 -8,342
Accumulated Other Comprehensive Income / (Loss)		 - - 2.03 1.28 5.09 9.05 -18 -121 0.62 -1.30 16

Quarterly Balance Sheets for Twilio

This table presents Twilio's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 12,613 12,299 11,904 11,858 11,289 10,508 10,037 9,815 9,848 9,712 9,577
Total Current Assets		 4,962 4,857 4,665 4,742 4,678 3,964 3,548 3,468 3,532 3,477 3,447
Cash & Equivalents		 633 635 675 678 673 755 584 467 969 735 542
Short-Term Investments		 3,576 3,310 3,009 3,179 3,154 2,361 2,114 1,981 1,573 1,724 1,804
Accounts Receivable		 488 576 600 557 541 537 551 578 588 613 711
Prepaid Expenses		 266 336 315 327 310 310 299 442 401 405 390
Plant, Property, & Equipment, net		 264 254 235 222 201 199 195 184 178 176 181
Total Noncurrent Assets		 7,387 7,188 7,005 6,894 6,410 6,345 6,294 6,163 6,139 6,059 5,949
Long-Term Investments		 732 684 657 623 568 541 515 465 439 413 275
Goodwill		 5,285 5,284 5,243 5,243 5,243 5,243 5,243 5,243 5,243 5,243 5,292
Intangible Assets		 901 798 728 679 322 293 266 211 184 157 125
Other Noncurrent Operating Assets		 468 422 377 349 278 268 270 244 272 246 256
Total Liabilities & Shareholders' Equity		 12,613 12,299 11,904 11,858 11,289 10,508 10,037 9,815 9,848 9,712 9,577
Total Liabilities		 2,082 1,980 1,928 1,878 1,842 1,828 1,808 1,810 1,804 1,817 1,793
Total Current Liabilities		 864 788 760 726 715 711 701 726 720 742 740
Accounts Payable		 103 121 94 104 82 62 71 108 76 40 92
Accrued Expenses		 573 476 449 424 442 467 452 432 462 508 457
Current Deferred Revenue		 136 137 139 146 142 139 139 154 148 159 160
Other Current Liabilities		 52 55 53 52 48 43 38 32 34 35 32
Total Noncurrent Liabilities		 1,218 1,192 1,168 1,152 1,127 1,117 1,108 1,084 1,084 1,075 1,052
Long-Term Debt		 987 988 988 989 989 990 990 991 991 992 993
Other Noncurrent Operating Liabilities		 231 204 180 164 138 127 117 93 93 83 60
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 10,531 10,319 9,977 9,979 9,448 8,679 8,229 8,004 8,044 7,895 7,784
Total Preferred & Common Equity		 10,531 10,319 9,977 9,979 9,448 8,679 8,229 8,004 8,044 7,895 7,784
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 10,531 10,319 9,977 9,979 9,448 8,679 8,229 8,004 8,044 7,895 7,784
Common Stock		 13,842 14,234 14,419 14,611 14,961 15,137 15,299 15,626 15,805 15,971 16,295
Retained Earnings		 -3,146 -3,843 -4,382 -4,579 -5,508 -6,447 -7,095 -7,632 -7,786 -8,099 -8,506
Accumulated Other Comprehensive Income / (Loss)		 -165 -72 -60 -53 -4.94 -11 24 10 25 23 -4.32

Annual Metrics And Ratios for Twilio

This table displays calculated financial ratios and metrics derived from Twilio's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 87.87% 66.15% 43.88% 62.92% 74.52% 55.30% 61.31% 34.64% 8.56% 7.32% 13.66%
EBITDA Growth		 -24.68% -4.90% -34.56% -84.54% -181.04% -46.73% -89.70% -32.02% 38.25% 153.96% 76.46%
EBIT Growth		 -32.29% -15.87% -53.67% -92.31% -198.96% -39.26% -90.50% -25.74% 27.60% 102.27% 1,092.57%
NOPAT Growth		 -32.64% -16.73% -59.93% -74.40% -220.90% -33.29% -85.75% -31.64% 27.28% 93.87% 357.77%
Net Income Growth		 -32.69% -16.39% -54.17% -91.42% -151.80% -59.90% -93.47% -32.24% 19.16% 89.23% 130.93%
EPS Growth		 -38.61% 64.38% 10.26% -80.00% -87.30% -41.95% -62.69% -25.87% 19.24% 88.09% 131.82%
Operating Cash Flow Growth		 -8.08% 153.82% -132.24% 345.25% 75.97% 132.45% -278.21% -337.12% 263.05% 72.69% 40.07%
Free Cash Flow Firm Growth		 0.00% -23.07% -141.70% -32.21% -2,367.34% -4.53% 50.77% 44.14% 95.65% 113.17% 2,460.71%
Invested Capital Growth		 0.00% 146.78% 288.51% 67.43% 2,622.95% 98.12% 16.16% 0.48% -8.60% -0.70% -0.52%
Revenue Q/Q Growth		 0.00% 0.00% 9.10% 15.88% 12.60% 14.04% 11.57% 4.99% 1.25% 2.74% 3.49%
EBITDA Q/Q Growth		 0.00% 0.00% -9.80% -30.28% -8.64% -44.00% -7.83% 10.07% -39.65% 630.18% 12.29%
EBIT Q/Q Growth		 0.00% 0.00% -11.55% -29.53% -13.24% -26.49% -10.98% 7.04% -17.98% 106.07% 30.77%
NOPAT Q/Q Growth		 0.00% 0.00% -12.61% -25.99% -15.57% -22.79% -12.03% 5.12% -19.52% 87.49% -0.36%
Net Income Q/Q Growth		 0.00% 0.00% -11.00% -30.13% -16.32% -22.17% -13.37% 4.70% -15.46% 76.34% -49.67%
EPS Q/Q Growth		 0.00% 0.00% -118.75% -27.27% -9.77% -16.72% -9.44% 5.64% -16.39% 74.32% -46.15%
Operating Cash Flow Q/Q Growth		 0.00% 59,294.12% -136.56% -52.00% 597.10% 9.66% -1,052.77% -8.63% 210.09% -13.74% 19.41%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -25.97% -1.90% -913.25% 63.95% -10.42% 91.02% -97.23% 46.10%
Invested Capital Q/Q Growth		 0.00% 0.00% -0.22% 8.89% 1.07% 97.94% -0.20% 1.74% -5.73% 1.12% 0.44%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 55.40% 56.54% 54.16% 53.72% 53.67% 51.97% 48.94% 47.40% 49.20% 51.10% 48.92%
EBITDA Margin		 -18.67% -11.78% -11.02% -12.48% -20.10% -19.00% -22.34% -21.90% -12.46% 6.26% 9.73%
Operating Margin		 -21.20% -14.90% -16.56% -17.73% -32.60% -27.98% -32.22% -31.50% -21.10% -1.20% 3.11%
EBIT Margin		 -21.20% -14.78% -15.79% -18.64% -31.93% -28.63% -33.81% -31.58% -21.06% 0.45% 4.68%
Profit (Net Income) Margin		 -21.27% -14.90% -15.97% -18.76% -27.07% -27.87% -33.43% -32.83% -24.45% -2.45% 0.67%
Tax Burden Percent		 100.34% 100.80% 101.12% 100.65% 84.77% 97.33% 98.85% 101.01% 101.88% 123.46% 61.41%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 102.92% 113.93% -446.01% 23.25%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 38.59%
Return on Invested Capital (ROIC)		 -748.49% -251.95% -115.91% -95.04% -17.26% -8.00% -10.34% -12.64% -9.58% -0.62% 1.60%
ROIC Less NNEP Spread (ROIC-NNEP)		 -728.99% -246.09% -110.18% -81.90% -11.64% -0.89% -1.63% -2.63% 1.16% 2.00% 5.05%
Return on Net Nonoperating Assets (RNNOA)		 687.61% 233.43% 97.42% 64.48% 4.24% 0.29% 0.59% 1.00% -0.43% -0.62% -1.17%
Return on Equity (ROE)		 -60.89% -18.53% -18.49% -30.56% -13.02% -7.71% -9.75% -11.64% -10.01% -1.24% 0.43%
Cash Return on Invested Capital (CROIC)		 -948.49% -336.61% -234.03% -145.47% -203.09% -73.82% -25.30% -13.12% -0.59% 0.08% 2.12%
Operating Return on Assets (OROA)		 -22.46% -14.38% -14.61% -16.39% -11.72% -6.89% -8.55% -9.45% -7.24% 0.19% 2.41%
Return on Assets (ROA)		 -22.54% -14.49% -14.77% -16.50% -9.94% -6.71% -8.45% -9.83% -8.40% -1.02% 0.34%
Return on Common Equity (ROCE)		 64.36% -8.56% -18.49% -30.56% -13.02% -7.71% -9.75% -11.64% -10.01% -1.24% 0.43%
Return on Equity Simple (ROE_SIMPLE)		 -30.44% -12.54% -17.70% -27.83% -7.18% -5.81% -8.61% -11.90% -10.43% -1.38% 0.00%
Net Operating Profit after Tax (NOPAT)		 -25 -29 -46 -81 -259 -345 -641 -844 -614 -38 97
NOPAT Margin		 -14.84% -10.43% -11.59% -12.41% -22.82% -19.58% -22.55% -22.05% -14.77% -0.84% 1.91%
Net Nonoperating Expense Percent (NNEP)		 -19.51% -5.86% -5.73% -13.14% -5.61% -7.11% -8.71% -10.01% -10.74% -2.61% -3.45%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -7.31% -5.72% -0.42% 1.10%
Cost of Revenue to Revenue		 44.60% 43.46% 45.84% 46.28% 46.33% 48.03% 51.06% 52.60% 50.80% 48.90% 51.08%
SG&A Expenses to Revenue		 21.56% 18.42% 15.24% 18.08% 19.24% 17.63% 16.63% 13.52% 11.28% 10.07% 8.10%
R&D to Revenue		 25.50% 28.10% 30.26% 26.36% 34.50% 30.11% 27.77% 28.20% 22.70% 22.63% 20.13%
Operating Expenses to Revenue		 76.60% 71.44% 70.72% 71.45% 86.27% 79.95% 81.16% 78.90% 70.31% 52.31% 45.80%
Earnings before Interest and Taxes (EBIT)		 -35 -41 -63 -121 -362 -504 -961 -1,208 -875 20 237
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -31 -33 -44 -81 -228 -335 -635 -838 -518 279 493
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 7.63 6.10 20.14 3.15 6.05 4.26 0.85 1.41 2.08 2.76
Price to Tangible Book Value (P/TBV)		 0.00 7.96 6.82 23.70 8.86 17.68 9.95 2.04 3.32 6.71 9.03
Price to Revenue (P/Rev)		 0.00 9.06 5.50 13.58 11.88 29.00 16.52 2.36 3.31 3.72 4.26
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 637.39
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.16%
Enterprise Value to Invested Capital (EV/IC)		 0.00 135.15 30.01 80.12 4.18 8.44 6.40 0.77 1.65 2.42 3.27
Enterprise Value to Revenue (EV/Rev)		 0.00 7.96 4.77 13.10 10.66 27.46 14.99 1.35 2.44 3.30 3.90
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 52.63 40.15
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 739.79 83.51
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 204.17
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 218.68 0.00 1,066.53 860.88 1,481.59 0.00 0.00 24.40 20.52 19.72
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,931.76 154.12
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.99 0.11 0.04 0.09 0.09 0.10 0.12 0.13
Long-Term Debt to Equity		 0.00 0.00 0.00 0.99 0.11 0.04 0.09 0.09 0.10 0.12 0.13
Financial Leverage		 -0.94 -0.95 -0.88 -0.79 -0.36 -0.32 -0.36 -0.38 -0.37 -0.31 -0.23
Leverage Ratio		 1.35 1.28 1.25 1.85 1.31 1.15 1.15 1.18 1.19 1.21 1.24
Compound Leverage Factor		 1.35 1.28 1.25 1.85 1.31 1.15 1.15 1.22 1.36 -5.42 0.29
Debt to Total Capital		 0.00% 0.00% 0.00% 49.79% 9.84% 3.65% 8.20% 8.55% 9.22% 11.08% 11.26%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 49.79% 9.84% 3.65% 8.20% 8.55% 9.22% 11.08% 11.26%
Preferred Equity to Total Capital		 205.71% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -105.71% 100.00% 100.00% 50.21% 90.16% 96.35% 91.80% 91.45% 90.78% 88.92% 88.74%
Debt to EBITDA		 0.00 0.00 0.00 -5.35 -2.05 -0.96 -1.55 -1.18 -1.91 3.55 2.01
Net Debt to EBITDA		 0.00 0.00 0.00 3.87 6.08 8.13 6.89 4.61 6.99 -6.73 -3.61
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -5.35 -2.05 -0.96 -1.55 -1.18 -1.91 3.55 2.01
Debt to NOPAT		 0.00 0.00 0.00 -5.39 -1.80 -0.93 -1.54 -1.17 -1.61 -26.35 10.24
Net Debt to NOPAT		 0.00 0.00 0.00 3.89 5.35 7.88 6.82 4.58 5.89 50.00 -18.36
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -5.39 -1.80 -0.93 -1.54 -1.17 -1.61 -26.35 10.24
Altman Z-Score		 0.00 18.64 15.03 9.57 9.51 29.84 14.55 2.71 4.32 4.91 6.37
Noncontrolling Interest Sharing Ratio		 205.71% 53.78% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.37 4.79 4.50 6.33 8.34 7.52 8.43 6.17 6.64 4.20 4.03
Quick Ratio		 3.16 4.50 4.25 6.14 8.12 7.34 8.17 5.82 6.20 3.62 3.50
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -31 -39 -93 -123 -3,046 -3,184 -1,568 -876 -38 5.01 128
Operating Cash Flow to CapEx		 -185.32% 39.29% -12.14% 32.38% 20.88% 55.22% -64.64% -317.24% 809.51% 1,218.39% 1,735.21%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.06 0.97 0.93 0.88 0.37 0.24 0.25 0.30 0.34 0.42 0.52
Accounts Receivable Turnover		 8.74 12.25 11.51 9.23 9.01 8.70 8.89 8.18 7.48 7.74 8.27
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 11.87 10.75 9.06 11.40 0.00 0.00 0.00 14.74 17.54 22.25 27.54
Accounts Payable Turnover		 32.39 37.24 23.92 20.32 18.25 17.07 18.92 18.47 17.28 19.84 27.94
Days Sales Outstanding (DSO)		 41.75 29.81 31.70 39.54 40.50 41.98 41.06 44.63 48.78 47.13 44.13
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 11.27 9.80 15.26 17.96 20.00 21.38 19.29 19.76 21.12 18.40 13.06
Cash Conversion Cycle (CCC)		 30.48 20.01 16.45 21.57 20.50 20.59 21.77 24.87 27.66 28.73 31.07
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6.62 16 63 106 2,894 5,733 6,659 6,691 6,116 6,073 6,042
Invested Capital Turnover		 50.43 24.16 10.00 7.66 0.76 0.41 0.46 0.57 0.65 0.73 0.84
Increase / (Decrease) in Invested Capital		 6.62 9.72 47 43 2,787 2,839 927 32 -576 -43 -31
Enterprise Value (EV)		 0.00 2,208 1,905 8,514 12,094 48,380 42,589 5,158 10,119 14,698 19,786
Market Capitalization		 0.00 2,514 2,196 8,828 13,479 51,100 46,961 9,025 13,736 16,578 21,565
Book Value per Share		 ($6.95) $3.78 $3.87 $4.43 $31.20 $55.99 $61.86 $57.28 $53.76 $51.85 $51.59
Tangible Book Value per Share		 ($7.25) $3.62 $3.46 $3.77 $11.10 $19.15 $26.46 $24.00 $22.86 $16.11 $15.75
Total Capital		 117 329 360 873 4,746 8,773 12,017 11,546 10,722 8,944 8,814
Total Debt		 0.00 0.00 0.00 434 467 320 986 987 989 991 992
Total Long-Term Debt		 0.00 0.00 0.00 434 467 320 986 987 989 991 992
Net Debt		 -109 -306 -291 -314 -1,386 -2,720 -4,372 -3,868 -3,617 -1,880 -1,780
Capital Expenditures (CapEx)		 10 26 27 25 67 59 90 80 51 59 58
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -13 -26 -16 -13 -39 -116 -129 21 154 243 219
Debt-free Net Working Capital (DFNWC)		 96 280 275 735 1,814 2,924 5,229 4,176 4,166 2,627 2,690
Net Working Capital (NWC)		 96 280 275 735 1,814 2,924 5,229 4,176 4,166 2,627 2,690
Net Nonoperating Expense (NNE)		 11 12 17 41 48 146 309 412 402 72 63
Net Nonoperating Obligations (NNO)		 -110 -313 -296 -332 -1,386 -2,720 -4,372 -3,868 -3,617 -1,880 -1,780
Total Depreciation and Amortization (D&A)		 4.23 8.32 19 40 134 170 326 370 357 259 256
Debt-free, Cash-free Net Working Capital to Revenue		 -7.67% -9.37% -4.04% -2.03% -3.40% -6.57% -4.55% 0.55% 3.70% 5.44% 4.33%
Debt-free Net Working Capital to Revenue		 57.53% 100.84% 68.85% 113.09% 159.91% 165.97% 183.99% 109.14% 100.28% 58.93% 53.08%
Net Working Capital to Revenue		 57.53% 100.84% 68.85% 113.09% 159.91% 165.97% 183.99% 109.14% 100.28% 58.93% 53.08%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.19) ($0.78) ($0.70) ($1.26) ($2.36) ($3.35) ($5.45) ($6.86) ($5.54) ($0.66) $0.22
Adjusted Weighted Average Basic Shares Outstanding		 17.75M 87.53M 94.23M 123.58M 139.71M 170.48M 174.18M 182.99M 183.33M 165.93M 152.99M
Adjusted Diluted Earnings per Share		 ($2.19) ($0.78) ($0.70) ($1.26) ($2.36) ($3.35) ($5.45) ($6.86) ($5.54) ($0.66) $0.21
Adjusted Weighted Average Diluted Shares Outstanding		 17.75M 87.53M 94.23M 123.58M 139.71M 170.48M 174.18M 182.99M 183.33M 165.93M 159.79M
Adjusted Basic & Diluted Earnings per Share		 ($2.19) ($0.78) ($0.70) ($1.26) ($2.36) ($3.35) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 17.75M 53.12M 91.22M 97.13M 130.08M 146.71M 181.52M 187.27M 182.06M 152.63M 151.51M
Normalized Net Operating Profit after Tax (NOPAT)		 -25 -29 -46 -81 -259 -345 -641 -722 -273 -28 107
Normalized NOPAT Margin		 -14.84% -10.43% -11.59% -12.41% -22.82% -19.58% -22.55% -18.86% -6.58% -0.63% 2.12%
Pre Tax Income Margin		 -21.20% -14.78% -15.79% -18.64% -31.93% -28.63% -33.81% -32.50% -23.99% -1.99% 1.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -60.57% -11.15% -0.83% 0.00% 0.00% -0.13% -0.07% 0.00% -65.86% -2,133.76% 2,568.24%

Quarterly Metrics And Ratios for Twilio

This table displays calculated financial ratios and metrics derived from Twilio's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 151,513,999.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 151,513,999.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.59
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.15% 5.01% 4.02% 4.31% 9.67% 11.05% 11.98% 13.48% 14.71% 14.32% 20.00%
EBITDA Growth		 94.91% -139.71% 124.24% 265.35% 554.26% 131.65% 118.81% 99.28% 43.94% 67.03% 61.56%
EBIT Growth		 76.60% -67.23% 94.83% 98.77% 119.86% 104.66% 395.49% 2,653.80% 178.30% 345.66% 181.09%
NOPAT Growth		 76.17% -65.50% 83.53% 86.58% 95.51% 103.79% 157.07% 285.28% 1,462.19% 313.66% 446.20%
Net Income Growth		 70.62% -59.27% 83.82% 80.83% 93.14% 96.59% 136.17% 170.38% 482.97% -267.71% 350.31%
EPS Growth		 70.34% -63.41% 83.15% 79.12% 92.31% 95.02% 138.71% 173.68% 483.33% -180.00% 375.00%
Operating Cash Flow Growth		 278.30% 480.71% 294.27% 155.05% -1.02% -51.27% 0.48% 29.88% 28.99% 150.41% -19.81%
Free Cash Flow Firm Growth		 105.90% 274.27% 432.67% 2,350.49% 3,523.34% -83.80% -103.79% -103.06% -92.20% 36.39% 196.51%
Invested Capital Growth		 -1.36% -8.60% -9.51% -8.68% -7.42% -0.70% 0.67% 0.69% 0.16% -0.52% 1.20%
Revenue Q/Q Growth		 -0.39% 4.09% -2.69% 3.39% 4.72% 5.40% -1.87% 4.77% 5.86% 5.04% 3.00%
EBITDA Q/Q Growth		 50.14% -1,230.52% 120.04% 24.37% 36.98% -7.30% 38.56% 12.06% 0.00% 8.47% 32.91%
EBIT Q/Q Growth		 18.17% -204.49% 95.30% 89.50% 1,422.00% -28.51% 197.86% 27.70% 2.34% 19.42% 80.10%
NOPAT Q/Q Growth		 23.21% -232.16% 87.97% 56.24% 74.29% 380.49% 80.88% 42.06% 89.00% -14.82% 138.83%
Net Income Q/Q Growth		 14.73% -157.86% 84.85% 42.44% 69.47% -28.21% 260.52% 12.02% 66.12% -223.10% 296.58%
EPS Q/Q Growth		 14.29% -157.69% 84.58% 38.71% 68.42% -66.67% 220.00% 16.67% 64.29% -221.74% 303.57%
Operating Cash Flow Q/Q Growth		 146.79% 7.81% -14.57% 12.21% -4.23% -46.93% 76.16% 45.04% -4.88% 3.03% -43.58%
Free Cash Flow Firm Q/Q Growth		 -42.04% 2,342.29% 87.52% -7.69% -14.29% -89.08% -143.89% 25.55% 318.47% 91.05% -68.94%
Invested Capital Q/Q Growth		 -1.46% -5.73% -1.20% -0.50% -0.10% 1.12% 0.15% -0.48% -0.64% 0.44% 1.88%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 49.95% 49.37% 51.96% 51.35% 51.04% 50.19% 49.60% 49.07% 48.61% 48.49% 48.63%
EBITDA Margin		 -1.83% -23.43% 4.83% 5.81% 7.59% 6.68% 9.43% 10.09% 9.53% 9.84% 12.70%
Operating Margin		 -10.54% -33.62% -4.15% -1.76% -0.43% 1.15% 1.97% 3.01% 3.15% 4.16% 7.65%
EBIT Margin		 -10.54% -30.82% -1.49% -0.15% 1.91% 1.29% 3.93% 4.79% 4.63% 5.26% 9.20%
Profit (Net Income) Margin		 -13.71% -33.96% -5.29% -2.94% -0.86% -1.04% 1.71% 1.83% 2.86% -3.36% 6.41%
Tax Burden Percent		 101.25% 101.60% 122.56% 121.40% 266.39% 91.98% 75.30% 66.75% 113.96% 121.42% 88.17%
Interest Burden Percent		 128.52% 108.46% 289.75% 1,604.10% -16.88% -87.69% 57.72% 57.12% 54.30% -52.54% 78.97%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24.70% 33.25% -13.96% 0.00% 11.83%
Return on Invested Capital (ROIC)		 -4.63% -15.27% -1.92% -0.83% -0.21% 0.59% 1.12% 1.58% 2.92% 2.43% 5.85%
ROIC Less NNEP Spread (ROIC-NNEP)		 -2.87% -12.27% -1.21% -0.22% 0.01% 1.39% 1.02% 1.67% 3.38% 7.11% 6.12%
Return on Net Nonoperating Assets (RNNOA)		 1.04% 4.52% 0.43% 0.07% 0.00% -0.43% -0.31% -0.47% -0.86% -1.65% -1.38%
Return on Equity (ROE)		 -3.59% -10.74% -1.49% -0.76% -0.21% 0.16% 0.81% 1.11% 2.06% 0.78% 4.47%
Cash Return on Invested Capital (CROIC)		 -6.49% -0.59% 2.76% 3.14% 2.90% 0.08% -0.52% -0.15% 1.46% 2.12% 1.96%
Operating Return on Assets (OROA)		 -3.53% -10.59% -0.53% -0.06% 0.76% 0.54% 1.71% 2.22% 2.29% 2.72% 5.03%
Return on Assets (ROA)		 -4.60% -11.67% -1.88% -1.11% -0.34% -0.43% 0.74% 0.85% 1.42% -1.73% 3.50%
Return on Common Equity (ROCE)		 -3.59% -10.74% -1.49% -0.76% -0.21% 0.16% 0.81% 1.11% 2.06% 0.78% 4.47%
Return on Equity Simple (ROE_SIMPLE)		 -8.81% 0.00% -7.71% -6.85% -5.62% 0.00% -0.43% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -76 -253 -30 -13 -3.43 9.61 17 25 47 40 95
NOPAT Margin		 -7.37% -23.53% -2.91% -1.23% -0.30% 0.80% 1.48% 2.01% 3.59% 2.91% 6.75%
Net Nonoperating Expense Percent (NNEP)		 -1.76% -3.00% -0.71% -0.61% -0.22% -0.80% 0.10% -0.10% -0.46% -4.68% -0.27%
Return On Investment Capital (ROIC_SIMPLE)		 - -2.36% - - - 0.11% 0.19% 0.27% 0.53% 0.45% 1.08%
Cost of Revenue to Revenue		 50.05% 50.63% 48.04% 48.65% 48.96% 49.81% 50.40% 50.93% 51.39% 51.51% 51.37%
SG&A Expenses to Revenue		 11.04% 9.94% 10.69% 10.53% 9.38% 9.77% 7.85% 8.27% 8.32% 7.97% 7.29%
R&D to Revenue		 23.38% 21.90% 24.03% 22.51% 23.01% 21.14% 21.69% 19.82% 20.17% 19.04% 18.63%
Operating Expenses to Revenue		 60.49% 82.99% 56.11% 53.11% 51.47% 49.04% 47.63% 46.06% 45.46% 44.33% 40.98%
Earnings before Interest and Taxes (EBIT)		 -109 -332 -16 -1.64 22 15 46 59 60 72 129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -19 -252 51 63 86 80 111 124 124 134 179
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.06 1.41 1.17 1.12 1.27 2.08 1.87 2.36 1.95 2.76 2.45
Price to Tangible Book Value (P/TBV)		 2.61 3.32 2.85 3.09 3.85 6.71 5.86 7.26 6.16 9.03 8.06
Price to Revenue (P/Rev)		 2.58 3.31 2.64 2.29 2.41 3.72 3.26 4.01 3.14 4.26 3.60
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 937.89 228.47 637.39 183.38
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.11% 0.44% 0.16% 0.55%
Enterprise Value to Invested Capital (EV/IC)		 1.10 1.65 1.27 1.17 1.37 2.42 2.14 2.81 2.24 3.27 2.83
Enterprise Value to Revenue (EV/Rev)		 1.73 2.44 1.83 1.66 1.90 3.30 2.84 3.59 2.75 3.90 3.29
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 52.63 38.38 42.38 30.71 40.15 31.09
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 739.79 159.77 119.17 74.38 83.51 54.43
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 1,444.62 523.54 138.57 204.17 90.46
Enterprise Value to Operating Cash Flow (EV/OCF)		 53.15 24.40 10.91 8.48 9.94 20.52 18.16 21.77 16.04 19.72 18.06
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 43.64 35.64 45.54 2,931.76 0.00 0.00 153.37 154.12 145.39
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.10 0.10 0.10 0.11 0.12 0.12 0.12 0.12 0.13 0.13 0.13
Long-Term Debt to Equity		 0.10 0.10 0.10 0.11 0.12 0.12 0.12 0.12 0.13 0.13 0.13
Financial Leverage		 -0.36 -0.37 -0.36 -0.32 -0.31 -0.31 -0.31 -0.28 -0.25 -0.23 -0.22
Leverage Ratio		 1.19 1.19 1.19 1.20 1.20 1.21 1.21 1.22 1.22 1.24 1.23
Compound Leverage Factor		 1.53 1.29 3.46 19.27 -0.20 -1.06 0.70 0.70 0.67 -0.65 0.97
Debt to Total Capital		 9.01% 9.22% 9.48% 10.24% 10.74% 11.08% 11.02% 10.97% 11.16% 11.26% 11.31%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 9.01% 9.22% 9.48% 10.24% 10.74% 11.08% 11.02% 10.97% 11.16% 11.26% 11.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 90.99% 90.78% 90.52% 89.76% 89.26% 88.92% 88.98% 89.03% 88.84% 88.74% 88.69%
Debt to EBITDA		 -2.67 -1.91 -3.83 -6.28 -18.80 3.55 2.92 2.47 2.26 2.01 1.77
Net Debt to EBITDA		 9.42 6.99 13.17 16.91 42.20 -6.73 -5.66 -4.96 -4.28 -3.61 -2.90
Long-Term Debt to EBITDA		 -2.67 -1.91 -3.83 -6.28 -18.80 3.55 2.92 2.47 2.26 2.01 1.77
Debt to NOPAT		 -1.93 -1.61 -2.15 -2.65 -3.30 -26.35 109.93 30.54 10.20 10.24 5.15
Net Debt to NOPAT		 6.80 5.89 7.42 7.15 7.40 50.00 -213.17 -61.30 -19.33 -18.36 -8.45
Long-Term Debt to NOPAT		 -1.93 -1.61 -2.15 -2.65 -3.30 -26.35 109.93 30.54 10.20 10.24 5.15
Altman Z-Score		 3.57 4.47 3.71 3.11 3.27 4.91 4.68 6.05 4.77 6.32 6.07
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.53 6.64 6.55 5.57 5.06 4.20 4.78 4.90 4.68 4.03 4.66
Quick Ratio		 6.08 6.20 6.11 5.13 4.64 3.62 4.17 4.35 4.14 3.50 4.13
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 13 322 604 558 478 52 -23 -17 37 71 22
Operating Cash Flow to CapEx		 1,840.47% 1,903.72% 1,482.44% 1,353.18% 1,342.86% 723.99% 1,501.08% 2,038.58% 1,642.44% 1,757.52% 734.41%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.34 0.34 0.36 0.38 0.40 0.42 0.43 0.46 0.50 0.52 0.55
Accounts Receivable Turnover		 7.85 7.48 7.51 7.46 7.83 7.74 8.20 8.41 8.41 8.27 8.23
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 16.88 17.54 18.42 19.54 20.81 22.25 23.82 25.12 26.44 27.54 29.05
Accounts Payable Turnover		 20.31 17.28 20.63 26.93 24.23 19.84 23.88 34.30 44.43 27.94 27.28
Days Sales Outstanding (DSO)		 46.48 48.78 48.58 48.95 46.61 47.13 44.54 43.42 43.39 44.13 44.34
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 17.97 21.12 17.70 13.55 15.06 18.40 15.28 10.64 8.22 13.06 13.38
Cash Conversion Cycle (CCC)		 28.51 27.66 30.89 35.40 31.54 28.73 29.26 32.78 35.17 31.07 30.96
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,487 6,116 6,042 6,012 6,006 6,073 6,083 6,054 6,015 6,042 6,155
Invested Capital Turnover		 0.63 0.65 0.66 0.67 0.69 0.73 0.76 0.78 0.81 0.84 0.87
Increase / (Decrease) in Invested Capital		 -89 -576 -635 -571 -482 -43 40 42 9.39 -31 73
Enterprise Value (EV)		 7,109 10,119 7,665 7,057 8,251 14,698 13,023 16,996 13,477 19,786 17,435
Market Capitalization		 10,601 13,736 11,071 9,724 10,474 16,578 14,944 18,987 15,357 21,565 19,063
Book Value per Share		 $55.10 $53.76 $52.19 $50.71 $51.24 $51.85 $52.44 $52.69 $51.46 $51.59 $51.38
Tangible Book Value per Share		 $22.40 $22.86 $21.45 $18.36 $16.94 $16.11 $16.70 $17.14 $16.26 $15.75 $15.62
Total Capital		 10,968 10,722 10,437 9,669 9,219 8,944 8,995 9,035 8,887 8,814 8,777
Total Debt		 989 989 989 990 990 991 991 991 992 992 993
Total Long-Term Debt		 989 989 989 990 990 991 991 991 992 992 993
Net Debt		 -3,492 -3,617 -3,405 -2,667 -2,223 -1,880 -1,922 -1,990 -1,880 -1,780 -1,629
Capital Expenditures (CapEx)		 11 12 13 16 15 15 13 14 16 15 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 158 154 136 136 149 243 294 269 276 219 360
Debt-free Net Working Capital (DFNWC)		 4,015 4,166 3,963 3,252 2,848 2,627 2,742 2,812 2,735 2,690 2,706
Net Working Capital (NWC)		 4,015 4,166 3,963 3,252 2,848 2,627 2,742 2,812 2,735 2,690 2,706
Net Nonoperating Expense (NNE)		 65 112 25 19 6.30 22 -2.64 2.27 9.42 86 4.79
Net Nonoperating Obligations (NNO)		 -3,492 -3,617 -3,405 -2,667 -2,223 -1,880 -1,922 -1,990 -1,880 -1,780 -1,629
Total Depreciation and Amortization (D&A)		 90 79 66 64 64 64 65 65 64 63 49
Debt-free, Cash-free Net Working Capital to Revenue		 3.85% 3.70% 3.25% 3.21% 3.44% 5.44% 6.41% 5.69% 5.64% 4.33% 6.79%
Debt-free Net Working Capital to Revenue		 97.88% 100.28% 94.48% 76.72% 65.63% 58.93% 59.82% 59.45% 55.86% 53.08% 51.05%
Net Working Capital to Revenue		 97.88% 100.28% 94.48% 76.72% 65.63% 58.93% 59.82% 59.45% 55.86% 53.08% 51.05%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.78) ($2.01) ($0.31) ($0.19) ($0.06) ($0.10) $0.13 $0.15 $0.24 ($0.30) $0.59
Adjusted Weighted Average Basic Shares Outstanding		 181.75M 183.33M 181.02M 170.22M 159.09M 165.93M 153.35M 153.23M 153.12M 152.99M 152.42M
Adjusted Diluted Earnings per Share		 ($0.78) ($2.01) ($0.31) ($0.19) ($0.06) ($0.10) $0.12 $0.14 $0.23 ($0.28) $0.57
Adjusted Weighted Average Diluted Shares Outstanding		 181.75M 183.33M 181.02M 170.22M 159.09M 165.93M 161.79M 159.69M 159.21M 159.79M 157.76M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 181.04M 182.06M 171.17M 160.60M 153.38M 152.63M 152.67M 153.43M 151.61M 151.51M 151.77M
Normalized Net Operating Profit after Tax (NOPAT)		 -72 -35 -23 -14 -0.84 9.57 17 25 29 40 95
Normalized NOPAT Margin		 -6.93% -3.26% -2.24% -1.25% -0.07% 0.80% 1.48% 2.01% 2.20% 2.91% 6.75%
Pre Tax Income Margin		 -13.54% -33.43% -4.31% -2.42% -0.32% -1.13% 2.27% 2.73% 2.51% -2.76% 7.27%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -62.41% -65.86% -124.98% -245.21% -439.97% -2,133.76% -6,180.79% 6,836.35% 1,622.47% 2,568.24% 957.82%

Financials Breakdown Chart

Key Financial Trends

Twilio’s latest quarter shows a notable improvement in profitability and cash generation, even though revenue growth has slowed compared with the prior year. In Q1 2026, revenue rose to $1.41 billion from $1.37 billion in Q4 2025 and $1.30 billion in Q3 2025. More importantly, Twilio produced $90.1 million in net income and $153.2 million in operating cash flow, suggesting the business is still generating solid cash while moving deeper into profitability.

On a year-over-year basis, the turnaround is clear. Q1 2026 net income improved sharply from a $45.9 million loss in Q4 2025 and a $37.2 million profit in Q3 2025 to $90.1 million. Operating margin also strengthened, with operating income of $107.7 million versus just $56.8 million in Q4 2025 and $40.9 million in Q3 2025. Compared with Q1 2025, the company’s revenue grew from $1.17 billion to $1.41 billion, while net income improved from $20.0 million to $90.1 million.

Cash flow remains a major strength. Twilio generated $153.2 million in operating cash flow in Q1 2026, after $271.6 million in Q4 2025 and $263.6 million in Q3 2025. That follows a long pattern of positive operating cash flow dating back through 2024, which is important because it gives the company flexibility to invest, pay down debt, and return capital to shareholders.

The balance sheet looks solid on liquidity, but goodwill remains very large. As of March 31, 2026, Twilio held $541.9 million in cash and equivalents plus $1.80 billion in short-term investments, for a strong liquid position. Total current assets were $3.45 billion versus $740.3 million in current liabilities, indicating good near-term coverage. However, goodwill was $5.29 billion, a large portion of total assets, so investors should keep an eye on whether acquired assets continue to justify their value.

Shareholder returns are being supported by ongoing buybacks. Twilio repurchased $253.0 million of common equity in Q1 2026, following $198.5 million in Q4 2025 and $347.2 million in Q3 2025. That has helped offset dilution and may support per-share results over time.

  • Q1 2026 revenue reached $1.41 billion, up from $1.17 billion in Q1 2025.
  • Net income improved to $90.1 million in Q1 2026, up sharply from prior quarters.
  • Operating cash flow remained positive at $153.2 million in Q1 2026.
  • Gross profit was $684.2 million in Q1 2026, reflecting continued scale in the business.
  • Cash and short-term investments totaled about $2.35 billion at the end of Q1 2026.
  • Current assets of $3.45 billion exceeded current liabilities of $740.3 million.
  • Twilio continued aggressive share repurchases in the quarter.
  • Goodwill of $5.29 billion remains a major balance-sheet item and warrants monitoring.
  • Revenue growth has slowed versus the strongest prior-year comparisons, suggesting a maturing growth profile.
  • Long-term debt of $992.7 million remains on the balance sheet.

Looking at the longer trend, Twilio has made meaningful progress since 2023 and early 2024. In 2023, the company posted heavy quarterly losses, including a $342.1 million loss in Q1 2023 and a $482.3 million loss in Q3 2023. By 2024, losses had narrowed and cash generation improved, and in 2025–2026 the company moved into more consistent profitability. That shift suggests management has materially improved operating discipline.

The big question for investors is whether Twilio can keep turning revenue growth into durable earnings growth. The latest quarter supports a positive view, but the stock’s long-term case will depend on maintaining operating leverage, protecting gross margin, and avoiding a return to large restructuring or impairment charges like those seen in earlier periods.

06/13/26 03:12 AM ETAI Generated. May Contain Errors.

Twilio Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Twilio's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Twilio's net income appears to be on an upward trend, with a most recent value of $33.83 million in 2025, falling from -$35.50 million in 2015. The previous period was -$109.40 million in 2024. See where experts think Twilio is headed by visiting Twilio's forecast page.

Twilio's total operating income in 2025 was $157.80 million, based on the following breakdown:
  • Total Gross Profit: $2.48 billion
  • Total Operating Expenses: $2.32 billion

Over the last 10 years, Twilio's total revenue changed from $166.92 million in 2015 to $5.07 billion in 2025, a change of 2,935.7%.

Twilio's total liabilities were at $1.95 billion at the end of 2025, a 1.9% increase from 2024, and a 4,667.2% increase since 2015.

In the past 10 years, Twilio's cash and equivalents has ranged from $108.84 million in 2015 to $1.48 billion in 2021, and is currently $682.34 million as of their latest financial filing in 2025.

Over the last 10 years, Twilio's book value per share changed from -6.95 in 2015 to 51.59 in 2025, a change of -842.6%.


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Financial statements for NYSE:TWLO last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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