Twilio provides communications APIs and customer-engagement software that businesses use for messaging, voice, email, authentication and customer data.
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A snapshot of what TWILIO INC owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230001447669-24-000034 | Feb 27, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240001447669-25-000035 | Feb 26, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001447669-26-000021 | Feb 24, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Twilio's operating performance improved, but its billion-dollar quarterly profit is not a measure of recurring earnings. For the quarter ended June 30, 2026, revenue rose 22% to $1.499 billion and GAAP operating income reached $84.5 million. Net income of $1.067 billion was dominated by a $944.1 million noncash tax benefit. Carrier-fee pass-throughs also boosted revenue without adding gross profit. Cash generation strengthened, although receivables absorbed more cash, stock compensation remained substantial and purchase commitments increased sharply. Management raised its full-year outlook on August 6, but customer usage, supplier reliability and future taxable income remain important dependencies. The central finding is genuine operating improvement accompanied by significant accounting, working-capital and contractual qualifications—not a comparable billion-dollar operating earnings run rate.
Sources: 10-Q · 2026-06-30 · EX-99.1 · 2026-08-06 · 10-K · 2025-12-31
Twilio earns primarily from communications consumption: usage fees supplied 75% of Q2 2026 revenue. Email and Segment customer-data products are primarily subscription-based. Most usage customers lack long-term financial commitments, so demand can change quickly. Twilio has reported one operating segment since Q3 2025; Segment is now a product-group name, not a separately reported profit center.
Q2 revenue grew 22%, versus company-defined organic growth of 17%. The organic calculation removes $71.050 million of current-quarter carrier-fee revenue and $1.660 million of acquisition revenue, while also removing $6.2 million of carrier fees from the prior-year denominator. These exclusions follow one-year seasoning rules; organic growth is neither constant-currency nor pure volume growth. Carrier fees pass through at cost. Existing-account revenue expansion, or DBNE, improved to 116% from 108%, but includes pricing and fee effects rather than measuring customer retention alone. Customer-account counts stopped being disclosed in Q1 2026; Twilio said the DBNE methodology was unchanged.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-08-06 · EX-99.1 · 2026-04-30
The August 6 earnings release and August 7 quarterly filing report Q2 GAAP operating income of $84.546 million, versus $36.989 million a year earlier. Gross profit increased, but rounded gross margin slipped from 49% to 48%. Lower acquired-intangible amortization helped earnings, while higher hosting, personnel and doubtful-account costs offset progress. A $32.771 million impairment arose because two network providers' operational and financial difficulties prevented Twilio from using previously prepaid services. The charge was noncash this quarter, not evidence that those services had cost nothing.
Q2 net income of $1,067.209 million included a $944.097 million deferred-tax valuation-allowance release; pretax income was only $75.526 million. Management cited adjusted cumulative U.S. profitability and expected future earnings—not three consecutive years of consolidated GAAP profit. Realizing the $1.029 billion deferred-tax asset still depends on taxable income and tax rules. Non-GAAP operating income was $284.633 million, excluding $141.912 million of stock compensation, the impairment and other adjustments. Those exclusions are not all one-offs.
Sources: 10-Q · 2026-06-30 · EX-99.1 · 2026-08-06
Q2 operating cash flow increased to $372.385 million from $277.084 million, following weaker Q1 cash generation. First-half operating cash flow was $525.591 million versus $468.126 million: it reverses the noncash tax release and adds back $278.423 million of stock compensation. Receivables absorbed $133.652 million, versus $3.112 million a year earlier. First-half software capitalization and asset purchases consumed $33.383 million and $7.218 million. Company-defined Q2 free cash flow of $352.645 million deducts these types of capital spending, but not acquisitions or buybacks.
First-half repurchases and related costs consumed $323.048 million in cash, yet outstanding shares increased as issuance exceeded retirements. The equity statement reports 2,584,024 shares repurchased, consistent with the note's rounded 2.6 million; the financing narrative instead associates the same half-year cash spending with 0.5 million shares. That discrepancy remains unexplained. Purchase-price, equity-accounting and cash-payment amounts describe overlapping activity and must not be added. The remaining $826 million buyback authorization at June 30 was discretionary and expires December 31, 2027.
Sources: EX-99.1 · 2026-04-30 · 10-Q · 2026-06-30
At June 30, cash was $823.261 million and marketable securities were separately $1,833.069 million; some securities mature in one to three years despite their short-term classification. Senior-note principal remained $1 billion: $500 million at 3.625% due March 15, 2029, and $500 million at 3.875% due March 15, 2031. The $993.162 million carrying value is net of discounts and issuance costs, not reduced principal. Reported covenant compliance is dated June 30 and establishes neither quantified headroom nor guaranteed refinancing.
Noncancelable purchase commitments increased from $349.2 million at year-end to $1.5 billion, with remaining terms up to five years. Lease liabilities were separately $72.357 million. Management considered liquidity and operating cash sufficient for anticipated needs for at least twelve months, but that assessment is conditional. Syniverse remains both supplier and investee: its carrying value was $250.525 million, first-half investment losses were $51.569 million and service costs were separately $44.0 million. Unverified funding, purchase and exit terms mean carrying value cannot be treated as a ceiling on total exposure.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-06-30
On August 6, management raised FY2026 reported revenue-growth guidance to 18%–18.5% and organic growth to 13%–13.5%, replacing April's 14%–15% and 9.5%–10.5%. Non-GAAP operating income and free cash flow were each forecast at $1.135–$1.155 billion. Q3 revenue guidance was $1.505–$1.515 billion, with reported growth of 16%–16.5% and organic growth of 11%–12%, slower than Q2. These are forecasts, not achieved results. Forward GAAP reconciliations were unavailable because adjustments including stock compensation were uncertain; EPS guidance assumed no foreign-exchange volatility impact.
Carrier and AWS dependence, cybersecurity, privacy, sanctions compliance and AI execution remain material risks. European data-transfer uncertainty has already deterred some customers. The IRS examination of the 2023 federal return, notified in February 2026, remained preliminary; management considered reserves adequate, but the outcome was uncertain. Goodwill remained $5.292 billion. Stytch's acquisition closed on November 14, 2025, but its separate earnings contribution and AI-related revenue are not quantified.
Doug Robinson's March 24, 2026 board appointment was followed by shareholder election on June 16, reported June 17. Shareholders also approved amended equity plans. The incentive plan starts with 10.5 million available shares, permits specified recycling, removes automatic increases and expires June 16, 2036; that initial reserve is not a lifetime issuance ceiling. The amended employee purchase plan's 4 million-share reserve applies to the offering beginning November 16, 2026, not the existing June offering. It also removes automatic increases and retains a 15% purchase discount. These changes do not eliminate dilution.
Sources: EX-99.1 · 2026-04-30 · EX-99.1 · 2026-08-06 · 10-K · 2025-12-31 · 10-Q · 2026-06-30 · 8-K · 2026-03-24 · 8-K · 2026-06-16
USD 5.06722 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 5.06722 bn | 13.7% |
| 2024 | USD 4.458036 bn | 7.3% |
| 2023 | USD 4.153945 bn | — |
Consolidated revenue, including carrier-fee pass-throughs.
Sources: 10-K · 2025-12-31
USD 33.834 m
FY2025 · GAAP · consolidated · Attribution: common stockholders · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 33.834 m | — |
Consolidated net income or loss attributable to common stockholders.
Sources: 10-K · 2025-12-31
USD -109.403 m
FY2024 · GAAP · consolidated · Attribution: common stockholders · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2024 | USD -109.403 m | Loss narrowed |
| 2023 | USD -1.015441 bn | — |
Consolidated net income or loss attributable to common stockholders.
Sources: 10-K · 2025-12-31
USD 1.003244 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 1.003244 bn | 40.1% |
| 2024 | USD 716.241 m | 72.7% |
| 2023 | USD 414.752 m | — |
GAAP operating cash flow, including noncash adjustments and operating-balance changes.
Sources: 10-K · 2025-12-31
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