Twilio (TWLO)

Market Price (8/11/2026): $249.59 | Market Cap: $38.1 BilSector: Information Technology | Industry: Systems Software

Twilio (TWLO)

Market Price (8/11/2026): $249.59
Market Cap: $38.1 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%

Stock buyback support
Stock Buyback 3Y Total is 3.7 Bil

Megatrend and thematic drivers
Megatrends include Cloud Computing, E-commerce & DTC Adoption, and Fintech & Digital Payments. Themes include Platform as a Service (PaaS), Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 113x

Stock price has recently run up significantly
6M Rtn6 month market price return is 114%, 12M Rtn12 month market price return is 153%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 90%

Key risks
TWLO key risks include [1] significant profitability and margin pressures in its core messaging business, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%
1	Stock buyback support Stock Buyback 3Y Total is 3.7 Bil
2	Megatrend and thematic drivers Megatrends include Cloud Computing, E-commerce & DTC Adoption, and Fintech & Digital Payments. Themes include Platform as a Service (PaaS), Show more.
3	Trading close to highs Dist 52W High is 0.0%, Dist 3Y High is 0.0%
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 113x
5	Stock price has recently run up significantly 6M Rtn6 month market price return is 114%, 12M Rtn12 month market price return is 153%
6	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 90%
8	Key risks TWLO key risks include [1] significant profitability and margin pressures in its core messaging business, Show more.

TWLO in ETFs

Weight = TWLO's share of each fund

VTI0.04%

ITOT0.04%

IWB0.04%

IJH0.81%

VB0.38%

IJK1.6%

MDYG1.6%

VBK1.2%

+19 more covered ETFs

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	8/11/26	2025	2024	2023	2022
Share Price			$249.59	$142.24	$108.08	$75.87	$48.96
Mkt Cap ($ Bil)			38.1	21.7	16.6	13.8	9.1
+ Debt ($ Bil)			1.1	1.1	1.1	1.2	1.2
- Cash ($ Bil)			2.7	2.5	2.4	4.0	4.2
TEV ($ Bil)			36.5	22.8	17.7	15.0	10.3
Valuation Ratios
P/S	5.9	6.5	6.8	4.3	3.7	3.3	2.4
P/EBIT	16.6	18.3	112.3	124.0	-410.3	-35.3	-8.8
P/E	36.8	42.6	33.2	640.3	-151.7	-13.6	-7.2
P/FCF	—	—	38.6	22.9	25.2	37.9	-27.1
Sector Ratios (* = sector average)
P/S *			3.5	3.3	3.5	3.0	2.6
P/EBIT *			3.9	3.5	1.0	-0.1	-0.1
P/E *			0.5	-0.0	-0.1	-0.2	-0.3
P/FCF *			10.8	11.4	13.9	13.2	7.9

FYE: 12/31	Forward FYE		Now
	2027	2026	8/11/26
Share Price			$249.59
Mkt Cap ($ Bil)			38.1
+ Debt ($ Bil)			1.1
- Cash ($ Bil)			2.7
TEV ($ Bil)			36.5
Valuation Ratios
P/S	5.9	6.5	6.8
P/EBIT	16.6	18.3	112.3
P/E	36.8	42.6	33.2
P/FCF	—	—	38.6
Sector Ratios (* = sector average)
P/S *			3.5
P/EBIT *			3.9
P/E *			0.5
P/FCF *			10.8

FYE: 12/31	TWLO [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$5.6 Bil	—
FY 2026 Sales	$5.8 Bil	—
FY 2027 Sales	$6.4 Bil	—
FY 2026 Sales Growth	4.6%	—
FY 2027 Sales Growth	10.1%	12.8%
EARNINGS
LTM Net Income (GAAP) [3]	$1.1 Bil	—
FY 2026 Net Income (Non-GAAP)	$896.2 Mil	—
FY 2027 Net Income (Non-GAAP)	$1.0 Bil	—
FY 2027 Net Income Growth	15.7%	18.9%
FY 2026 EPS (Non-GAAP)	$5.72	—
FY 2027 EPS (Non-GAAP)	$6.65	—
FY 2027 EPS Growth	16.3%	—
VALUATION
FY 2026 P/S	6.5	1.8
FY 2027 P/S	5.9	—
FY 2026 P/E	42.6	8.5
FY 2027 P/E	36.8	—

[1] TWLO forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 8/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	TWLO	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	5.6
Rev Chg Q	22.0%	9.4%
Rev Chg LTM	17.8%	8.4%
Rev Chg 3Y Avg	11.3%	5.9%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.3
CFO LTM ($ Bil)	1.1
Net Inc LTM ($ Bil)	1.1
Op Mgn LTM	6.1%	18.5%
CFO/Rev LTM	19.0%	21.8%
Net Inc Mgn	20.6%	13.1%
VALUATION	HIGH
P/S	6.8	3.3
P/CFO	36.0	15.7
P/FCF	38.6	20.1
P/E	33.2	23.7
STABILITY	VERY GOOD
Debt/Equity	0.03	0.19
Cash/Assets	0.25	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Active Customer Accounts	more than 392,000	9302025	Link
Dollar-Based Net Expansion Rate	109%	9302025	Link

Price Chart

Upcoming
10/29/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $1.37 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/10/2026

Twilio (TWLO) stock has gained about 70% since 4/30/2026 because of the following key factors:

1. Strong Q1 Fiscal 2026 Earnings and Raised Guidance Bolstered Investor Confidence.

Twilio reported robust financial results for its fiscal Q1 2026 (ended March 31, 2026) on April 30, 2026, exceeding analyst expectations. The company announced revenue of $1.41 billion, marking a 20% year-over-year (YoY) increase and surpassing the consensus estimate of $1.34 billion. Non-GAAP diluted earnings per share (EPS) reached $1.50, significantly higher than the analyst forecast of $1.27. Following these strong results, Twilio provided optimistic guidance for fiscal Q2 2026, projecting EPS between $1.27 and $1.32 (above the $1.29 consensus) and revenue between $1.42 billion and $1.43 billion (exceeding the $1.39 billion consensus). Furthermore, the company raised its full-year 2026 guidance for reported revenue growth to 14%-15% (up from 11.5%-12.5%) and organic revenue growth to 9.5%-10.5% (up from 8%-9%). This positive outlook and earnings beat led to a significant market reaction, with Twilio's stock surging by 30.11% in after-hours trading following the announcement.

2. Exceptional Q2 Fiscal 2026 Performance and Further Elevated Full-Year Outlook Driven by Accelerating Growth and Profitability.

Twilio continued its strong financial performance by reporting impressive fiscal Q2 2026 (ended June 30, 2026) results on August 6, 2026. The company posted revenue of $1.50 billion, a 22% YoY increase on a reported basis (17% organically), outperforming the consensus estimate of $1.43 billion. Non-GAAP diluted EPS for the quarter was $1.47, considerably higher than the $1.32 consensus. The quarter also marked record non-GAAP income from operations of $285 million and robust free cash flow of $353 million, underscoring improved cash generation and profitability. In light of these results, management again raised its full-year 2026 guidance, increasing reported revenue growth to 18%-18.5% and organic growth to 13%-13.5%. The company also lifted its non-GAAP operating income and free cash flow forecasts to a range of $1.135-$1.155 billion. This second consecutive strong earnings report and a significantly upgraded outlook fueled another substantial increase in the stock price, with shares jumping approximately 25-30% in the immediate aftermath.

3. Sustained Positive Analyst Sentiment and Multiple Price Target Upgrades Reflected Increased Confidence.

Throughout the specified period, Twilio received numerous positive revisions from financial analysts, contributing to the stock's upward trend. Following the strong Q1 2026 results, several analysts reiterated "Buy" or "Overweight" ratings and increased their price targets. This positive sentiment intensified after the exceptional Q2 2026 earnings report, leading to a wave of further price target upgrades. For instance, BTIG Research raised its target from $245 to $285, Mizuho from $200 to $240, and Wells Fargo from $225 to $275. Other firms such as Monness Crespi & Hardt, Rosenblatt Securities, and Needham also raised their targets, signaling greater confidence in Twilio's earnings trajectory and strategic direction. As of August 10, 2026, the stock maintained a consensus "Buy" rating from 19 analysts, with an average price target of $235.58.

4. Strategic Positioning as a Foundational AI-Driven Customer Engagement Infrastructure.

Twilio's strategic emphasis on becoming a core infrastructure layer for customer engagement in the era of artificial intelligence (AI) resonated positively with investors. The company's Q1 2026 earnings highlighted accelerating usage of its voice and messaging platforms, alongside growing adoption of software add-ons, with AI acting as a catalyst for new use cases. This narrative gained further operational traction with the Q2 2026 results, which demonstrated accelerating organic growth and improved non-GAAP gross profit, supporting the "AI Infrastructure Bull Case." Management's report of a greater than 90% uplift in top-of-funnel conversion after the new Console rollout provided early, concrete evidence that Twilio's AI-driven communications strategy is translating into improved usage and cross-sell data, reinforcing its potential for long-term growth in the evolving AI landscape.

Show less

Holding a concentrated position? Know your true downside before the momentum shifts.

Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 68.9% change in TWLO stock from 4/30/2026 to 8/10/2026 was primarily driven by a 2987.5% change in the company's Net Income Margin (%).

(LTM values as of)	4302026	8102026	Change
Stock Price ($)	148.06	250.06	68.9%
Change Contribution By:
Total Revenues ($ Mil)	5,067	5,572	10.0%
Net Income Margin (%)	0.7%	20.6%	2987.5%
P/E Multiple	666.5	33.3	-95.0%
Shares Outstanding (Mil)	152	153	-0.3%
Cumulative Contribution			68.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/10/2026

	Return	Correlation
TWLO	68.9%
Market (SPY)	7.6%	14.6%
Sector (XLK)	16.8%	19.1%

Fundamental Drivers

The 107.6% change in TWLO stock from 1/31/2026 to 8/10/2026 was primarily driven by a 1401.6% change in the company's Net Income Margin (%).

(LTM values as of)	1312026	8102026	Change
Stock Price ($)	120.46	250.06	107.6%
Change Contribution By:
Total Revenues ($ Mil)	4,896	5,572	13.8%
Net Income Margin (%)	1.4%	20.6%	1401.6%
P/E Multiple	274.4	33.3	-87.9%
Shares Outstanding (Mil)	153	153	0.2%
Cumulative Contribution			107.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/10/2026

	Return	Correlation
TWLO	107.6%
Market (SPY)	12.0%	24.1%
Sector (XLK)	29.7%	26.4%

Fundamental Drivers

The 93.8% change in TWLO stock from 7/31/2025 to 8/10/2026 was primarily driven by a 58.9% change in the company's P/S Multiple.

(LTM values as of)	7312025	8102026	Change
Stock Price ($)	129.00	250.06	93.8%
Change Contribution By:
Total Revenues ($ Mil)	4,583	5,572	21.6%
P/S Multiple	4.3	6.9	58.9%
Shares Outstanding (Mil)	153	153	0.4%
Cumulative Contribution			93.8%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/10/2026

	Return	Correlation
TWLO	93.8%
Market (SPY)	23.3%	27.4%
Sector (XLK)	42.4%	29.1%

Fundamental Drivers

The 278.7% change in TWLO stock from 7/31/2023 to 8/10/2026 was primarily driven by a 120.5% change in the company's P/S Multiple.

(LTM values as of)	7312023	8102026	Change
Stock Price ($)	66.03	250.06	278.7%
Change Contribution By:
Total Revenues ($ Mil)	3,958	5,572	40.8%
P/S Multiple	3.1	6.9	120.5%
Shares Outstanding (Mil)	186	153	22.0%
Cumulative Contribution			278.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/10/2026

	Return	Correlation
TWLO	278.7%
Market (SPY)	74.8%	39.7%
Sector (XLK)	112.9%	38.2%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
TWLO Return	-22%	-81%	55%	42%	32%	70%	-29%
Peers Return	16%	-45%	45%	-19%	25%	11%	5%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	107%
Monthly Win Rates [3]
TWLO Win Rate	33%	17%	50%	58%	50%	75%
Peers Win Rate	67%	33%	58%	48%	50%	55%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
TWLO Max Drawdown	-44%	-84%	-39%	-30%	-45%	-24%
Peers Max Drawdown	-27%	-57%	-23%	-36%	-37%	-34%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: MDB, VRSN, OKTA, AKAM, EXYN. See TWLO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/10/2026 (YTD)

Event	TWLO	S&P 500
2025 US Tariff Shock
% Loss	-32.9%	-18.8%
% Gain to Breakeven	49.0%	23.1%
Time to Breakeven	59 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-16.9%	-9.5%
% Gain to Breakeven	20.4%	10.5%
Time to Breakeven	18 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-25.3%	-6.7%
% Gain to Breakeven	33.8%	7.1%
Time to Breakeven	12 days	31 days
2020 COVID-19 Crash
% Loss	-44.0%	-33.7%
% Gain to Breakeven	78.6%	50.9%
Time to Breakeven	52 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-20.9%	-19.2%
% Gain to Breakeven	26.4%	23.8%
Time to Breakeven	14 days	105 days
2016-2017 Trump Reflation Bond Selloff
% Loss	-66.4%	-3.7%
% Gain to Breakeven	197.7%	3.9%
Time to Breakeven	455 days	6 days

Compare to MDB, VRSN, OKTA, AKAM, EXYN

In The Past

Twilio's stock fell -32.9% during the 2025 US Tariff Shock. Such a loss loss requires a 49.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	TWLO	S&P 500
2025 US Tariff Shock
% Loss	-32.9%	-18.8%
% Gain to Breakeven	49.0%	23.1%
Time to Breakeven	59 days	79 days
2023 SVB Regional Banking Crisis
% Loss	-25.3%	-6.7%
% Gain to Breakeven	33.8%	7.1%
Time to Breakeven	12 days	31 days
2020 COVID-19 Crash
% Loss	-44.0%	-33.7%
% Gain to Breakeven	78.6%	50.9%
Time to Breakeven	52 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-20.9%	-19.2%
% Gain to Breakeven	26.4%	23.8%
Time to Breakeven	14 days	105 days
2016-2017 Trump Reflation Bond Selloff
% Loss	-66.4%	-3.7%
% Gain to Breakeven	197.7%	3.9%
Time to Breakeven	455 days	6 days

Compare to MDB, VRSN, OKTA, AKAM, EXYN

In The Past

Twilio's stock fell -32.9% during the 2025 US Tariff Shock. Such a loss loss requires a 49.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Twilio (TWLO)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Twilio Inc. provides a cloud communications platform that empowers businesses to embed various customer engagement functionalities directly into their software applications. Essentially, it offers the underlying technology for applications to interact with users through diverse communication channels, simplifying complex communication infrastructure for its clients.

The core of Twilio's offering is a comprehensive set of application programming interfaces (APIs). These APIs handle the intricate communication logic, enabling developers to easily integrate essential capabilities such as voice calling, SMS and MMS messaging, video conferencing, and email into their own applications. This allows companies to add robust communication features without needing to build the entire system from scratch.

Twilio primarily serves developers and businesses across numerous industries globally. Its platform is utilized by companies that need to build or enhance customer interaction within their software, providing scalable solutions for customer support, marketing, notifications, and other forms of user engagement directly within their digital products.

AI Analysis | Feedback

Here are 1-2 brief analogies for Twilio:

Stripe for communications
AWS for customer engagement APIs

AI Analysis | Feedback

Voice APIs: Services enabling developers to embed voice calls, conferencing, and interactive voice response (IVR) into applications.
Messaging APIs: Services allowing developers to integrate SMS, MMS, and other chat messaging functionalities into their software.
Video APIs: Services for developers to embed real-time video, such as video calls and conferencing, into their applications.
Email APIs: Services providing developers with tools to programmatically send, receive, and track emails from within their applications.

AI Analysis | Feedback

Major Customers of Twilio (TWLO)

Twilio primarily sells its cloud communications platform and APIs to other companies, enabling them to embed voice, messaging, video, and email capabilities into their own software applications.

Major customers include:

Uber (NYSE: UBER)
Lyft (NASDAQ: LYFT)
Zendesk (NYSE: ZEN)
Netflix (NASDAQ: NFLX)
Salesforce (NYSE: CRM)

AI Analysis | Feedback

Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc. (AMZN)
Google Cloud Platform (GCP), a subsidiary of Alphabet Inc. (GOOGL)

AI Analysis | Feedback

Khozema Shipchandler, Chief Executive Officer

Khozema Shipchandler has over 25 years of experience, currently serving as the Chief Executive Officer of Twilio since January 2024. Before becoming CEO, he held several key positions at Twilio, including President of Twilio Communications, Chief Operating Officer, and Chief Financial Officer. Prior to joining Twilio in 2018, Shipchandler had an extensive career at GE, where he held various operating and financial leadership roles across Industrial Internet, Corporate Audit, and Aviation sectors in the U.S., Middle East, and Singapore. His roles at GE also included Chief Commercial Officer and CFO & EVP of Corporate Development at GE Digital, as well as Vice President of Corporate Audit Staff at GE. He has also served on the board of directors for SendGrid, Inc. and Quiet Plus I Acquisition Corp., and previously for Pivotal Software, Inc.

Aidan Viggiano, Chief Financial Officer

Aidan Viggiano is Twilio's Chief Financial Officer, a position she assumed in March 2023. She joined Twilio in 2019 and previously served as Senior Vice President of Finance and Vice President of Corporate Finance within the company. Viggiano brings over 20 years of experience, having held a variety of finance leadership roles at General Electric prior to her time at Twilio, including Chief of Staff to the GE CFO.

Christy Lake, Chief Administrative Officer

Christy Lake serves as the Chief Administrative Officer at Twilio. She is responsible for ensuring the company's operational excellence and fostering a diverse and inclusive environment.

Thomas Wyatt, Chief Revenue Officer

Thomas Wyatt is the Chief Revenue Officer at Twilio. In this role, he is part of the leadership team responsible for setting the strategic direction and vision of the company.

Chris Koehler, Chief Marketing Officer

Chris Koehler is the Chief Marketing Officer at Twilio, having joined in May 2024. He has over 25 years of experience in customer engagement and marketing technology, with a background in driving growth and innovation at leading companies. Before joining Twilio, Koehler served as the CMO at Box, where he played a key role in the company exceeding $1 billion in annual revenue. His career also includes leadership positions in marketing, customer success, solution consulting, demand generation, and enablement teams at Adobe Systems, E*TRADE Financial, SunTrust Bank, and Claritas. Notably, a small software startup he worked for was acquired by Adobe.

AI Analysis | Feedback

Key Risks to Twilio (TWLO)

Twilio Inc. (TWLO) faces several key business risks, primarily stemming from its profitability challenges, intense competitive landscape, and the complexities of navigating a dynamic regulatory environment.

The most significant risk to Twilio is its **thin profit margins and ongoing profitability challenges**. Despite its revenue growth, the company's profits remain slim, and its gross margins are notably lower compared to many of its software peers. This low profitability makes Twilio vulnerable to any slowdown in growth or increases in operating costs. Additionally, substantial stock-based compensation continues to exert financial pressure and dilute investors. The company's core Communications segment is a high-volume, lower-margin business, and while the Segment platform is aimed at higher profitability, its growth has stagnated, indicating challenges in that market.

Secondly, Twilio operates in an **intensely competitive market, leading to pricing pressure and challenges in customer acquisition and retention**. The Communications Platform as a Service (CPaaS) sector sees competition from a diverse array of players, including established telecommunications companies, other CPaaS providers like Sinch, Infobip, and Vonage, and even broader Customer Relationship Management (CRM) platforms. This competitive environment can erode Twilio's pricing power, potentially forcing it to lower prices and impacting its ability to improve margins. Furthermore, large customers may choose to diversify their CPaaS spending or develop internal communication solutions, as seen with past instances involving major clients.

Lastly, **evolving regulatory changes and compliance requirements across various global jurisdictions pose a considerable risk**. As a global cloud communications platform, Twilio must adhere to complex and frequently changing laws regarding data privacy, telecommunications, and "Know Your Customer" (KYC) mandates in numerous countries. Non-compliance with these regulations can lead to increased operational costs, potential penalties, service disruptions, or even the disconnection of phone numbers. Changes in U.S. and global tax laws could also adversely affect the company's financial position.

AI Analysis | Feedback

The clear emerging threat to Twilio is the increasing competition from hyperscale cloud providers, particularly Microsoft Azure Communication Services (ACS).

Azure Communication Services directly competes with Twilio by offering a similar suite of application programming interfaces (APIs) for embedding voice, video, chat, SMS, and email capabilities into applications. For organizations already using Microsoft Azure for their cloud infrastructure, ACS can offer a more integrated solution with consolidated billing, simplified management, and potentially competitive pricing, making it a compelling alternative to Twilio for their communication needs.

This situation is analogous to the historical examples provided, where a major incumbent or a new entrant with a strong ecosystem (like Apple with the iPhone or Netflix with streaming) disrupts an existing market leader (BlackBerry, Blockbuster) by offering a competitive or superior alternative.

AI Analysis | Feedback

Twilio operates in substantial and growing addressable markets for its communication and customer engagement platforms. The addressable market for Twilio's services is projected to reach $118 billion by 2028 globally. Specifically, within the Communications Platform as a Service (CPaaS) market, where Twilio holds a leadership position, the market is projected to grow from $12.3 billion to $121 billion by 2034 globally. Additionally, Twilio's acquisition of Segment contributes to the Customer Data Platform (CDP) market, which was estimated at approximately $17 billion as of Q1 2021. The broader Software - Infrastructure segment of the Technology sector, in which Twilio operates, is a $5.0 trillion market by 2027 globally.

AI Analysis | Feedback

Here are the expected drivers of future revenue growth for Twilio (TWLO) over the next 2-3 years:

AI-driven Product Innovation and Adoption: Twilio is positioned as a standard for Voice AI agent infrastructure among AI startups. The company is expected to drive future revenue growth through the acceleration of Voice AI adoption, the movement of Voice AI proofs of concept into production, and the launch of new AI-focused products such as Conversational Memory and multi-channel orchestration. These new offerings are designed to be more ISV-friendly and extend AI benefits across various communication channels, particularly within key verticals like Fintech, Healthcare, Real Estate, and Insurance.
Growth in Core Communications (Messaging and Voice) and High-Margin Add-on Products: Analysts anticipate an increase in messaging and voice volumes in the medium term, which is expected to be a significant driver. This growth in core communication services is also projected to stimulate the sale of high-margin software add-on products. Twilio has already demonstrated strong growth in messaging, both domestically and internationally.
Customer Base Expansion and Increased Spending from Existing Customers: Twilio continues to expand its active customer accounts, adding tens of thousands of new customers annually. Furthermore, the company's dollar-based net expansion rate indicates that existing customers are increasing their usage and spending on Twilio's platform, contributing to organic revenue growth.
Incremental Revenue from Carrier Fee Pass-Throughs: While primarily pass-throughs, carrier fee increases are expected to contribute incremental reported revenue. Twilio anticipates approximately $190 million in additional revenue in 2026 from these fees.

AI Analysis | Feedback

Share Repurchases

Twilio initiated a $1 billion share repurchase program in early 2023.
In March 2024, an additional $2 billion share repurchase program was authorized, with the company targeting to complete approximately $2.2 billion in repurchases from both programs by the end of 2024.
A new $2 billion share repurchase program was announced in January 2025, which is valid until December 31, 2027.

Share Issuance

In February 2021, Twilio commenced an underwritten public offering of $1 billion of its Class A common stock, with an option for underwriters to purchase an additional $150 million.

Outbound Investments

Twilio acquired Segment for an estimated $3.2 billion in Twilio Class A stock in October 2020, aiming to bolster its customer engagement software suite.
Twilio's most recent acquisition was Ionic Security in May 2021.
Other acquisitions in 2021 included Zipwhip and ValueFirst.

Capital Expenditures

Twilio's capital expenditures were $46.05 million in 2021, $34.42 million in 2022, $11.31 million in 2023, $6.978 million in 2024, and $5.848 million in 2025.
Expected capital expenditures are $7.277 million for 2026.
Capital expenditures include purchases of long-lived and intangible assets.

Interactive Breakdown

null

null

Better Bets vs. Twilio (TWLO)

INDUSTRY: Systems Software

Higher Rev Chg 3Y Avg | Lower P/S (Values for TWLO: 11.3% | 6.9x)

GEN (12.8% | 3.5x)

Gen Digital

NTNX (16.3% | 6.4x)

Nutanix

PATH (15.1% | 4.9x)

UiPath

ZETA (33.9% | 4.3x)

Zeta Global

CVLT (15.8% | 4.7x)

CommVault Systems

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TWLO: 11.3% | 112.5x)

MSFT (16.1% | 24.2x)

Microsoft

FTNT (14.7% | 49.3x)

Fortinet

GEN (12.8% | 8.1x)

Gen Digital

NTNX (16.3% | 81.1x)

Nutanix

PATH (15.1% | 80.7x)

UiPath

Higher Rev Chg LTM (Value for TWLO: 17.8%)

CRWV (129.9%)

CoreWeave

NET (33.5%)

Cloudflare

CRWD (23.2%)

CrowdStrike

PANW (19.5%)

Palo Alto Networks

FTNT (18.8%)

Fortinet

Higher Rev Chg 3Y Avg (Value for TWLO: 11.3%)

NET (30.6%)

Cloudflare

CRWD (27.8%)

CrowdStrike

PANW (17.8%)

Palo Alto Networks

MSFT (16.1%)

Microsoft

FTNT (14.7%)

Fortinet

Higher Op Mgn LTM (Value for TWLO: 6.1%)

MSFT (46.8%)

Microsoft

GEN (42.8%)

Gen Digital

FTNT (32.4%)

Fortinet

PANW (9.6%)

Palo Alto Networks

NTNX (7.9%)

Nutanix

Higher CFO/Rev LTM (Value for TWLO: 19.0%)

MSFT (55.1%)

Microsoft

FTNT (45.1%)

Fortinet

PANW (39.8%)

Palo Alto Networks

CRWD (35.7%)

CrowdStrike

NET (25.2%)

Cloudflare

Higher FCF/Rev LTM (Value for TWLO: 17.7%)

FTNT (41.4%)

Fortinet

PANW (35.8%)

Palo Alto Networks

CRWD (28.1%)

CrowdStrike

MDB (22.7%)

MongoDB

MSFT (20.2%)

Microsoft

Higher Total Yield (Value for TWLO: 3.0%)

DOX (11.1%)

Amdocs

GEN (7.8%)

Gen Digital

MSFT (4.3%)

Microsoft

PATH (4.0%)

UiPath

QLYS (3.2%)

Qualys

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for TWLO: 11.3% | 6.9x)

DELL (12.9% | 2.2x)

Dell Technologies

INTU (14.2% | 4.4x)

Intuit

WDAY (15.1% | 4.7x)

Workday

ROP (12.7% | 4.9x)

Roper Technologies

TEAM (22.7% | 6.4x)

Atlassian

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TWLO: 11.3% | 112.5x)

NVDA (121.7% | 32.6x)

NVIDIA

MSFT (16.1% | 24.2x)

Microsoft

AVGO (29.3% | 60.3x)

Broadcom

MU (80.9% | 16.4x)

Micron Technology

LRCX (11.7% | 46.8x)

Lam Research

Higher Rev Chg LTM (Value for TWLO: 17.8%)

MU (167.0%)

Micron Technology

PLTR (78.9%)

Palantir Technologies

NVDA (70.7%)

NVIDIA

AMD (39.5%)

Advanced Micro Devices

AVGO (32.3%)

Broadcom

Higher Rev Chg 3Y Avg (Value for TWLO: 11.3%)

NVDA (121.7%)

NVIDIA

MU (80.9%)

Micron Technology

AVGO (29.3%)

Broadcom

AMD (24.4%)

Advanced Micro Devices

MSFT (16.1%)

Microsoft

Higher Op Mgn LTM (Value for TWLO: 6.1%)

MU (65.7%)

Micron Technology

NVDA (64.0%)

NVIDIA

MSFT (46.8%)

Microsoft

AVGO (44.1%)

Broadcom

AAPL (33.2%)

Apple

Higher CFO/Rev LTM (Value for TWLO: 19.0%)

MU (57.0%)

Micron Technology

MSFT (55.1%)

Microsoft

NVDA (49.6%)

NVIDIA

AVGO (44.6%)

Broadcom

AAPL (31.4%)

Apple

Higher FCF/Rev LTM (Value for TWLO: 17.7%)

NVDA (47.0%)

NVIDIA

AVGO (43.4%)

Broadcom

AAPL (29.3%)

Apple

MU (29.0%)

Micron Technology

MSFT (20.2%)

Microsoft

Higher Total Yield (Value for TWLO: 3.0%)

MU (5.3%)

Micron Technology

MSFT (4.3%)

Microsoft

CSCO (3.8%)

Cisco Systems

AAPL (3.2%)

Apple

NVDA (3.0%)

NVIDIA

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TWLO: 11.3% | 6.9x)

AMZN (13.0% | 3.9x)

Amazon.com

META (23.8% | 6.6x)

Meta Platforms

MS (13.5% | 4.6x)

Morgan Stanley

NFLX (14.6% | 6.6x)

Netflix

GS (13.2% | 4.7x)

Goldman Sachs

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TWLO: 11.3% | 112.5x)

GOOGL (15.5% | 29.4x)

Alphabet

AMZN (13.0% | 32.0x)

Amazon.com

META (23.8% | 17.4x)

Meta Platforms

LLY (39.4% | 27.8x)

Eli Lilly

V (11.8% | 23.2x)

Visa

Higher Rev Chg LTM (Value for TWLO: 17.8%)

LLY (49.6%)

Eli Lilly

META (27.7%)

Meta Platforms

GE (21.7%)

GE Aerospace

GOOGL (20.1%)

Alphabet

CAT (18.4%)

Caterpillar

Higher Rev Chg 3Y Avg (Value for TWLO: 11.3%)

LLY (39.4%)

Eli Lilly

META (23.8%)

Meta Platforms

GOOGL (15.5%)

Alphabet

AMZN (13.0%)

Amazon.com

V (11.8%)

Visa

Higher Op Mgn LTM (Value for TWLO: 6.1%)

LLY (49.7%)

Eli Lilly

META (38.1%)

Meta Platforms

PM (37.7%)

Philip Morris International

GOOGL (33.1%)

Alphabet

AMZN (12.1%)

Amazon.com

Higher CFO/Rev LTM (Value for TWLO: 19.0%)

META (57.1%)

Meta Platforms

GOOGL (41.6%)

Alphabet

LLY (35.3%)

Eli Lilly

PM (33.5%)

Philip Morris International

AMZN (20.8%)

Amazon.com

Higher FCF/Rev LTM (Value for TWLO: 17.7%)

V (47.2%)

Visa

MA (45.5%)

Mastercard

PM (29.9%)

Philip Morris International

JNJ (22.7%)

Johnson & Johnson

META (18.0%)

Meta Platforms

Higher Total Yield (Value for TWLO: 3.0%)

JPM (8.5%)

JPMorgan Chase

BRK-B (7.5%)

Berkshire Hathaway

GOOGL (5.9%)

Alphabet

META (4.9%)

Meta Platforms

AMZN (4.5%)

Amazon.com

Best Bets in Information Technology

What You Pay

P/EBIT (Value for TWLO: 112.5x)

VRSN (22.6x)

VeriSign

NVDA (27.8x)

NVIDIA

IDCC (23.2x)

InterDigital

QLYS (26.9x)

Qualys

YOU (20.5x)

Clear Secure

ADEA (15.2x)

Adeia

GEN (8.5x)

Gen Digital

ADBE (11.7x)

Adobe

FICO (19.0x)

Fair Isaac

INTU (15.2x)

Intuit

P/E (Value for TWLO: 33.3x)

VRSN (31.3x)

VeriSign

NVDA (33.1x)

NVIDIA

IDCC (29.8x)

InterDigital

QLYS (31.5x)

Qualys

YOU (34.9x)

Clear Secure

ADEA (25.0x)

Adeia

GEN (16.7x)

Gen Digital

ADBE (15.2x)

Adobe

FICO (29.2x)

Fair Isaac

INTU (20.1x)

Intuit

What You Get

Rev Chg 3Y Avg (Value for TWLO: 11.3%)

VRSN (5.3%)

VeriSign

NVDA (121.7%)

NVIDIA

IDCC (15.6%)

InterDigital

QLYS (10.3%)

Qualys

YOU (24.0%)

Clear Secure

ADEA (7.0%)

Adeia

GEN (12.8%)

Gen Digital

ADBE (11.0%)

Adobe

FICO (17.7%)

Fair Isaac

INTU (14.2%)

Intuit

Rev Chg LTM (Value for TWLO: 17.8%)

VRSN (6.9%)

VeriSign

NVDA (70.7%)

NVIDIA

IDCC (-11.7%)

InterDigital

QLYS (10.4%)

Qualys

YOU (19.8%)

Clear Secure

ADEA (24.3%)

Adeia

GEN (20.2%)

Gen Digital

ADBE (11.5%)

Adobe

FICO (24.1%)

Fair Isaac

INTU (15.1%)

Intuit

Rev Chg Q (Value for TWLO: 22.0%)

VRSN (6.0%)

VeriSign

NVDA (85.2%)

NVIDIA

IDCC (-13.4%)

InterDigital

QLYS (11.0%)

Qualys

YOU (26.6%)

Clear Secure

ADEA (12.1%)

Adeia

GEN (6.3%)

Gen Digital

ADBE (12.7%)

Adobe

FICO (25.7%)

Fair Isaac

INTU (10.4%)

Intuit

FCF/Rev 3Y Avg (Value for TWLO: 17.2%)

VRSN (58.5%)

VeriSign

NVDA (48.3%)

NVIDIA

IDCC (42.5%)

InterDigital

QLYS (42.1%)

Qualys

YOU (41.9%)

Clear Secure

ADEA (41.1%)

Adeia

GEN (39.0%)

Gen Digital

ADBE (37.9%)

Adobe

FICO (37.4%)

Fair Isaac

INTU (34.1%)

Intuit

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	7-Day Sell-Off Sends Twilio Stock Down 11%	06/23/2026
2	Is Microsoft a Better Buy Than Twilio?	06/10/2026
3	TWLO Stock Surges 14% With A 5-day Winning Spree On TD Cowen Upgrade To $160	03/03/2026
4	Better Bet Than Twilio Stock: TOST, NTNX Deliver More	02/28/2026
5	TWLO Stock Surges 13% With A 5-day Winning Spree On AEG Partnership	01/27/2026
6	Twilio Earnings Notes	12/29/2026
7	Twilio Stock Jump Looks Great, But How Secure Is That Gain?	10/17/2025
8	Is The 20.5% Decline In Twilio (TWLO) Stock A Dip Buying Opportunity?	08/26/2025
9	ARTICLES
10	Where The Buying Ran Strongest: 18 Mid Cap Stocks At 52-Week Highs	08/11/2026
11	7-Day Sell-Off Sends Twilio Stock Down -11%	06/23/2026
12	Between Microsoft and Twilio, Which Stock Looks Set to Break Out?	06/10/2026
13	Mid Cap Stocks Trading At 52-Week High	04/20/2026
14	Better Value & Growth: TOST Leads Twilio Stock	02/28/2026

	Title
0	DASHBOARDS
1	7-Day Sell-Off Sends Twilio Stock Down 11%
2	Is Microsoft a Better Buy Than Twilio?
3	TWLO Stock Surges 14% With A 5-day Winning Spree On TD Cowen Upgrade To $160
4	Better Bet Than Twilio Stock: TOST, NTNX Deliver More
5	TWLO Stock Surges 13% With A 5-day Winning Spree On AEG Partnership
6	Twilio Earnings Notes
7	Twilio Stock Jump Looks Great, But How Secure Is That Gain?
8	Is The 20.5% Decline In Twilio (TWLO) Stock A Dip Buying Opportunity?
9	ARTICLES
10	Where The Buying Ran Strongest: 18 Mid Cap Stocks At 52-Week Highs
11	7-Day Sell-Off Sends Twilio Stock Down -11%
12	Between Microsoft and Twilio, Which Stock Looks Set to Break Out?
13	Mid Cap Stocks Trading At 52-Week High
14	Better Value & Growth: TOST Leads Twilio Stock

Trade Ideas

Select ideas related to TWLO.

null

Recent Active Movers

Top Gainers

Ticker	Company	Category	1D Rtn	YTD Rtn
USO	United States Oil Fund LP	Commodity	6.7%	82.1%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	5.7%	39.9%
FXN	First Trust Energy AlphaDEX Fund	Equity	5.0%	37.2%
XLE	State Street Energy Select Sector SPD...	Equity	4.7%	35.5%
UNG	United States Natural Gas Fund LP	Commodity	4.1%	-17.3%
DBC	Invesco DB Commodity Index Tracking Fund	Commodity	3.5%	33.9%
PDBC	Invesco Optimum Yield Diversified Com...	Commodity	3.4%	34.6%
SLV	iShares Silver Trust	Commodity	3.3%	-7.8%
COMT	iShares GSCI Commodity Dynamic Roll S...	Commodity	3.2%	34.9%
BCI	abrdn Bloomberg All Commodity Strateg...	Commodity	2.8%	25.4%

Top Losers

Ticker	Company	Category	1D Rtn	YTD Rtn
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-2.8%	69.5%
SOXX	iShares Semiconductor ETF	Equity	-2.6%	75.9%
SMH	VanEck Semiconductor ETF	Equity	-2.3%	58.1%
ETHA	iShares Ethereum Trust ETF	Cryptocurrency	-2.3%	-37.0%
EWY	iShares MSCI South Korea ETF	Equity	-1.8%	67.8%
FBTC	Fidelity Wise Origin Bitcoin Fund	Cryptocurrency	-1.6%	-27.0%
IBIT	iShares Bitcoin Trust ETF	Cryptocurrency	-1.5%	-27.0%
SCHH	Schwab U.S. REIT ETF	Real Estate	-1.4%	14.4%
REET	iShares Global REIT ETF	Real Estate	-1.4%	12.1%
USRT	iShares Core U.S. REIT ETF	Real Estate	-1.4%	17.1%

Top Gainers

Ticker	Company	Category	1W Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	19.4%	6.4%
SLV	iShares Silver Trust	Commodity	13.2%	-7.8%
NASA	Tema Space Innovators ETF	Equity	11.1%	0.9%
PALL	ETFS Physical Palladium Shares	Commodity	10.0%	-13.6%
GDE	WisdomTree Efficient Gold Plus Equity...	Equity	9.4%	-3.4%
ARKK	ARK Innovation ETF	Equity	9.4%	4.6%
ARKX	ARK Space & Defense Innovation ETF	Equity	8.9%	-1.4%
URA	Global X Uranium ETF	Equity	8.7%	3.9%
GLDM	SPDR Gold MiniShares Trust	Commodity	8.3%	1.7%
IAU	iShares Gold Trust	Commodity	8.3%	1.7%

Top Losers

Ticker	Company	Category	1W Rtn	YTD Rtn
EWZ	iShares MSCI Brazil ETF	Equity	-3.4%	10.8%
XLU	State Street Utilities Select Sector ...	Equity	-2.8%	1.7%
USRT	iShares Core U.S. REIT ETF	Real Estate	-2.2%	17.1%
SCHH	Schwab U.S. REIT ETF	Real Estate	-2.1%	14.4%
VNQ	Vanguard Real Estate ETF	Real Estate	-2.0%	11.9%
REET	iShares Global REIT ETF	Real Estate	-1.9%	12.1%
ILF	iShares Latin America 40 ETF	Equity	-1.8%	13.4%
IYR	iShares U.S. Real Estate ETF	Real Estate	-1.8%	10.4%
XLRE	State Street Real Estate Select Secto...	Real Estate	-1.7%	10.8%
KRE	State Street SPDR S&P Regional Bankin...	Equity	-1.3%	18.0%

Top Gainers

Ticker	Company	Category	1M Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	20.8%	6.4%
USO	United States Oil Fund LP	Commodity	15.8%	82.1%
IGV	iShares Expanded Tech-Software Sector...	Equity	13.6%	-0.6%
XOP	State Street SPDR S&P Oil & Gas Explo...	Equity	10.9%	39.9%
KWEB	KraneShares CSI China Internet ETF	Equity	10.4%	-14.5%
SLV	iShares Silver Trust	Commodity	10.1%	-7.8%
HGER	Harbor Commodity All-Weather Strategy...	Commodity	9.5%	34.8%
COWZ	Pacer US Cash Cows 100 ETF	Equity	9.3%	16.7%
XLE	State Street Energy Select Sector SPD...	Equity	9.3%	35.5%
FXN	First Trust Energy AlphaDEX Fund	Equity	9.1%	37.2%

Top Losers

Ticker	Company	Category	1M Rtn	YTD Rtn
EWY	iShares MSCI South Korea ETF	Equity	-11.1%	67.8%
SOXX	iShares Semiconductor ETF	Equity	-8.9%	75.9%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-7.5%	69.5%
SMH	VanEck Semiconductor ETF	Equity	-6.8%	58.1%
ICLN	iShares Global Clean Energy ETF	Equity	-6.1%	10.0%
XLU	State Street Utilities Select Sector ...	Equity	-5.0%	1.7%
MTUM	iShares MSCI USA Momentum Factor ETF	Equity	-4.5%	22.9%
UNG	United States Natural Gas Fund LP	Commodity	-4.3%	-17.3%
EDV	Vanguard World Funds Extended Duratio...	Bond	-4.3%	-6.0%
SPMO	Invesco S&P 500 Momentum ETF	Equity	-3.3%	25.0%

Peer Comparisons

Peers to compare with:

Financials

	TWLO	MDB	VRSN	OKTA	AKAM	EXYN	Median
Name	Twilio	MongoDB	VeriSign	Okta	Akamai T.	Exyn Tec.
Mkt Price	250.06	416.67	293.34	150.77	117.65	2.17	200.42
Mkt Cap	38.2	33.5	26.6	26.6	17.0	-	26.6
Rev LTM	5,572	2,602	1,708	2,996	4,323	-	2,996
Op Inc LTM	340	-108	1,159	170	515	-	340
FCF LTM	989	591	1,066	896	630	-	896
FCF 3Y Avg	831	294	946	743	724	-	743
CFO LTM	1,061	597	1,101	920	1,447	-	1,061
CFO 3Y Avg	891	308	982	765	1,475	-	891

Growth & Margins

	TWLO	MDB	VRSN	OKTA	AKAM	EXYN	Median
Name	Twilio	MongoDB	VeriSign	Okta	Akamai T.	Exyn Tec.
Rev Chg LTM	17.8%	23.6%	6.9%	11.7%	5.9%	-	11.7%
Rev Chg 3Y Avg	11.3%	24.0%	5.3%	15.2%	5.7%	-	11.3%
Rev Chg Q	22.0%	25.2%	6.0%	11.2%	5.4%	-	11.2%
QoQ Delta Rev Chg LTM	5.1%	5.6%	1.5%	2.6%	1.3%	-	2.6%
Op Inc Chg LTM	313.2%	36.9%	6.8%	639.1%	-18.0%	-	36.9%
Op Inc Chg 3Y Avg	174.1%	31.4%	6.0%	264.9%	-8.2%	-	31.4%
Op Mgn LTM	6.1%	-4.2%	67.9%	5.7%	11.9%	-	6.1%
Op Mgn 3Y Avg	0.9%	-9.1%	67.8%	-2.8%	14.9%	-	0.9%
QoQ Delta Op Mgn LTM	1.2%	1.4%	-0.1%	0.4%	-1.8%	-	0.4%
CFO/Rev LTM	19.0%	22.9%	64.5%	30.7%	33.5%	-	30.7%
CFO/Rev 3Y Avg	18.4%	13.2%	60.8%	28.3%	36.0%	-	28.3%
FCF/Rev LTM	17.7%	22.7%	62.4%	29.9%	14.6%	-	22.7%
FCF/Rev 3Y Avg	17.2%	12.6%	58.5%	27.5%	17.7%	-	17.7%

Valuation

	TWLO	MDB	VRSN	OKTA	AKAM	EXYN	Median
Name	Twilio	MongoDB	VeriSign	Okta	Akamai T.	Exyn Tec.
Mkt Cap	38.2	33.5	26.6	26.6	17.0	-	26.6
P/S	6.9	12.9	15.6	8.9	3.9	-	8.9
P/Op Inc	112.5	-309.4	23.0	156.2	33.0	-	33.0
P/EBIT	112.5	-3,141.5	22.6	98.7	31.9	-	31.9
P/E	33.3	-1,151.0	31.3	107.5	41.4	-	33.3
P/CFO	36.0	56.1	24.2	28.9	11.8	-	28.9
Total Yield	3.0%	-0.1%	4.3%	0.9%	2.4%	-	2.4%
Dividend Yield	0.0%	0.0%	1.1%	0.0%	0.0%	-	0.0%
FCF Yield 3Y Avg	5.0%	1.3%	4.3%	3.9%	5.3%	-	4.3%
D/E	0.0	0.0	0.1	0.0	0.5	-	0.0
Net D/E	-0.0	-0.1	0.0	-0.1	0.4	-	-0.0

Returns

	TWLO	MDB	VRSN	OKTA	AKAM	EXYN	Median
Name	Twilio	MongoDB	VeriSign	Okta	Akamai T.	Exyn Tec.
1M Rtn	16.5%	21.8%	8.6%	8.8%	-6.8%	-62.7%	8.7%
3M Rtn	25.9%	41.4%	2.7%	84.6%	-23.1%	-56.6%	14.3%
6M Rtn	113.8%	16.5%	34.3%	71.0%	24.2%	-56.6%	29.2%
12M Rtn	153.4%	99.2%	9.2%	64.7%	66.8%	-56.6%	65.7%
3Y Rtn	303.8%	17.0%	44.6%	111.2%	12.8%	-56.6%	30.8%
1M Excs Rtn	14.2%	19.5%	6.3%	6.4%	-9.1%	-65.1%	6.3%
3M Excs Rtn	19.2%	34.3%	-2.7%	74.9%	-25.1%	-61.4%	8.2%
6M Excs Rtn	105.6%	9.2%	19.9%	62.0%	11.9%	-68.4%	15.9%
12M Excs Rtn	82.0%	60.6%	-13.9%	38.8%	35.1%	-78.9%	37.0%
3Y Excs Rtn	232.1%	-68.8%	-29.1%	34.5%	-45.4%	-128.8%	-37.2%

Comparison Analyses

	Title
0	Twilio vs. NiSource: With Return Forecast Of 40%, Twilio Is A Better Bet
1	Twilio vs. Jabil: With Return Forecast Of 40%, Twilio Is A Better Bet
2	Twilio vs. PulteGroup: With Return Forecast Of 40%, Twilio Is A Better Bet
3	Twilio vs. MongoDB: With Return Forecast Of 71%, MongoDB Is A Better Bet
4	Twilio vs. Wix.com: With Return Forecast Of 39%, Twilio Is A Better Bet
5	Twilio vs. Okta: With Return Forecast Of 51%, Okta Is A Better Bet
6	Twilio vs. Akamai Technologies: With Return Forecast Of 39%, Twilio Is A Better Bet
7	Twilio vs. VeriSign: With Return Forecast Of 39%, Twilio Is A Better Bet
8	Twilio vs. CommScope: With Return Forecast Of 43%, Twilio Is A Better Bet
9	Twilio vs. Hub: With Return Forecast Of 43%, Twilio Is A Better Bet

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	6/30/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	8/7/2026	2/24/2026	2/26/2025	2/27/2024	2/27/2023	2/22/2022	2/26/2021
Key Financials
Total Revenue	5,572	5,067	4,458	4,154	3,826	2,842	1,762
Gross Profit	2,705	2,479	2,278	2,044	1,814	1,391	916
EBITDA	499	370	166	-106	-752	-657	-343
Operating Income	340	175	-40	-390	-1,031	-916	-493
Net Income	1,149	34	-109	-1,015	-1,256	-950	-491
EPS	7.52	0.22	-0.66	-5.54	-6.86	-5.45	-3.35
Growth Rates
Total Revenue Growth	17.8%	13.7%	7.3%	8.6%	34.6%	61.3%	55.3%
EBITDA Growth	77.0%	123.6%	256.3%	85.9%	-14.4%	-91.5%	-32.3%
Operating Income Growth	313.2%	532.0%	89.6%	62.1%	-12.6%	-85.8%	-33.3%
Net Income Growth	5574.5%	130.9%	89.2%	19.2%	-32.2%	-93.5%	-59.9%
Margins
Gross Margin	48.5%	48.9%	51.1%	49.2%	47.4%	48.9%	52.0%
EBITDA Margin	9.0%	7.3%	3.7%	-2.5%	-19.6%	-23.1%	-19.5%
Operating Income Margin	6.1%	3.4%	-0.9%	-9.4%	-26.9%	-32.2%	-28.0%
Net Income Margin	20.6%	0.7%	-2.5%	-24.4%	-32.8%	-33.4%	-27.9%
Cash & Debt
Total Cash	2,656	2,470	2,384	4,012	4,155	5,358	3,040
Total Debt	1,066	1,082	1,110	1,160	1,239	1,287	607
Net Debt / (Cash)	-1,591	-1,389	-1,274	-2,852	-2,916	-4,071	-2,433
Cash Flows & CapEx
Net Cash from Operations	1,061	1,003	716	415	-254	-58	33
Total CapEx	-72	-58	-59	-51	-80	-90	-59
Free Cash from Operations	989	945	657	364	-335	-148	-26
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	869	869	2,334	669	-0	-0	-0

$ Mil \| FY: 12/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023
Filing Date	8/7/2026	5/1/2026	2/24/2026	10/31/2025	8/8/2025	5/2/2025	2/26/2025	10/31/2024	8/1/2024	5/8/2024	2/27/2024	11/9/2023
Key Financials Quarterly
Total Revenue	1,499	1,407	1,366	1,300	1,228	1,172	1,195	1,134	1,083	1,047	1,076	1,034
Ebitda	147	142	121	89	87	73	77	46	33	10	15	-30
Operating Income	117	108	74	41	37	23	27	-5	-19	-44	-50	-102
Net Income	1,067	90	-46	37	22	20	-12	-10	-32	-55	-365	-142
EPS	6.99	0.59	-0.30	0.24	0.15	0.13	-0.08	-0.06	-0.19	-0.31	-2.01	-0.78
Key Financials TTM
Total Revenue TTM	5,572	5,302	5,067	4,896	4,729	4,583	4,458	4,339	4,239	4,194	4,154	4,103
Ebitda TTM	499	439	370	326	282	228	166	104	29	-47	-106	-264
Operating Income TTM	340	259	175	128	82	26	-40	-117	-215	-313	-390	-555
Net Income TTM	1,149	104	34	67	20	-34	-109	-462	-594	-729	-1,015	-879
Growth Rates Quarterly
Total Revenue Growth	22.0%	20.0%	14.3%	14.7%	13.5%	12.0%	11.0%	9.7%	4.3%	4.0%	5.0%	5.2%
EBITDA Growth	69.1%	95.2%	57.8%	94.9%	162.9%	640.2%	398.9%	254.4%	177.5%	120.0%	110.8%	86.3%
Operating Income Growth	217.2%	366.5%	172.8%	936.7%	294.3%	153.1%	153.9%	95.2%	83.8%	63.9%	76.7%	64.3%
Net Income Growth	4659.4%	350.3%	-267.7%	483.0%	170.4%	136.2%	96.6%	93.1%	80.8%	83.8%	-59.3%	70.6%
Margins Quarterly
EBITDA Margin	9.8%	10.1%	8.9%	6.9%	7.1%	6.2%	6.4%	4.0%	3.1%	0.9%	1.4%	-2.9%
Operating Income Margin	7.8%	7.7%	5.4%	3.1%	3.0%	2.0%	2.3%	-0.4%	-1.8%	-4.2%	-4.7%	-9.9%
Net Income Margin	71.2%	6.4%	-3.4%	2.9%	1.8%	1.7%	-1.0%	-0.9%	-2.9%	-5.3%	-34.0%	-13.7%
Cash & Debt
Total Cash	2,656	2,346	2,470	2,459	2,543	2,448	2,384	2,698	3,116	3,827	4,012	3,857
Total Debt	1,066	1,068	1,082	1,095	1,103	1,101	1,110	1,126	1,145	1,161	1,160	1,194
Net Debt / (Cash)	-1,591	-1,278	-1,389	-1,364	-1,440	-1,347	-1,274	-1,572	-1,971	-2,666	-2,852	-2,663
Cash Flows Quarterly
FCF from Operations	372	153	272	264	277	191	108	204	213	190	223	206
Cash Flows TTM
FCF from Operations TTM	1,061	965	1,003	840	781	717	716	830	832	703	415	134
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	70	253	198	347	197	126	420	641	917	357	120	64
Return on Invested Capital (ROIC) Quarterly
ROIC	3.2%	2.5%	2.0%	1.1%	0.7%	0.5%	0.7%	-0.1%	-0.6%	-1.4%	-1.7%	-3.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.3%	1.4%	0.7%	0.7%	0.3%	0.2%	-0.3%	-0.9%	-1.6%	-2.6%	-3.3%	-4.7%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Single segment	5,067	4,458	4,154
Twilio Communications (Communications)				3,550	2,641
Twilio Segment (Segment)				276	201
Total	5,067	4,458	4,154	3,826	2,842

Operating Income by Segment

$ Mil	2024	2022
Twilio Communications (Communications)	1,042	319
Payroll taxes related to stock-based compensation	-10	-24
Restructuring costs	-13	-77
Charitable contributions	-20	-10
Twilio Segment (Segment)	-63	-30
Amortization of acquired intangibles	-112	-206
Corporate costs not allocated to segments	-265	-293
Stock-based compensation	-613	-784
Acquisition and divestiture related expenses		-3
Impairment of long-lived assets		-98
Total	-54	-1,205

Price Behavior

Price Behavior

Market Price	$250.06
Market Cap ($ Bil)	38.1
First Trading Date	06/23/2016
Distance from 52W High	0.0%
	50 Days	200 Days
DMA Price	$202.03	$152.02
DMA Trend	up	up
Distance from DMA	23.8%	64.5%
	3M	1YR
Volatility	75.0%	61.3%
Downside Capture	133.85	158.68
Upside Capture	208.97	229.72
Correlation (SPY)	17.8%	26.1%

TWLO Betas & Captures as of 7/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.31	0.87	0.83	1.15	1.36	1.35
Up Beta	-0.18	-0.81	-1.88	-0.15	0.48	1.19
Down Beta	-0.06	0.67	0.49	0.35	0.77	1.39
Up Capture	22%	163%	257%	302%	307%	419%
Bmk +ve Days	11	22	35	67	138	427
Stock +ve Days	12	22	33	69	131	403
Down Capture	92%	120%	114%	133%	142%	107%
Bmk -ve Days	11	21	28	59	114	326
Stock -ve Days	10	21	30	57	121	348

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TWLO
TWLO	104.9%	64.6%	1.35	-
Sector ETF (XLK)	42.3%	25.9%	1.32	28.2%
Equity (SPY)	23.4%	12.8%	1.37	25.8%
Gold (GLD)	28.7%	28.4%	0.88	3.8%
Commodities (DBC)	37.2%	20.1%	1.46	3.3%
Real Estate (VNQ)	12.4%	13.8%	0.60	3.7%
Bitcoin (BTCUSD)	-44.9%	43.0%	-1.27	20.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TWLO
TWLO	-8.8%	60.3%	0.09	-
Sector ETF (XLK)	20.4%	25.8%	0.70	46.1%
Equity (SPY)	13.5%	17.2%	0.61	46.9%
Gold (GLD)	18.9%	18.6%	0.83	2.1%
Commodities (DBC)	9.2%	19.6%	0.36	5.2%
Real Estate (VNQ)	2.1%	18.9%	0.01	31.3%
Bitcoin (BTCUSD)	10.6%	52.9%	0.39	23.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TWLO
TWLO	19.4%	60.2%	0.55	-
Sector ETF (XLK)	24.4%	24.9%	0.89	45.8%
Equity (SPY)	15.4%	17.9%	0.73	42.3%
Gold (GLD)	12.1%	16.2%	0.61	4.6%
Commodities (DBC)	7.7%	18.1%	0.34	9.3%
Real Estate (VNQ)	4.6%	20.7%	0.18	25.8%
Bitcoin (BTCUSD)	58.3%	66.2%	0.98	15.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	7152026
Short Interest: Shares Quantity	4.2 Mil
Short Interest: % Change Since 6302026	-4.2%
Average Daily Volume	1.8 Mil
Days-to-Cover Short Interest	2.4 days
Basic Shares Quantity	152.8 Mil
Short % of Basic Shares	2.8%

Returns Analyses

	Title
0	Twilio Stock Jump Looks Great, But How Secure Is That Gain?
1	Twilio Stock Return Comparison
2	Twilio (TWLO) Stock Has 50% Chance Of Rise In The Next One Month
3	[10/13/2021] Twilio (TWLO) Stock Price Forecast: AI Forecasts TWLO Stock Price To Be Around $368 In A Month (Up 6.6%)

Earnings Returns History

Updated 8/11/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/6/2026	24.9%
4/30/2026	23.8%	33.1%	53.7%
2/12/2026	2.3%	2.5%	14.4%
10/30/2025	19.5%	13.0%	15.0%
8/7/2025	-19.4%	-17.6%	-10.9%
5/1/2025	2.3%	7.5%	22.2%
2/13/2025	-15.0%	-22.4%	-31.8%
10/30/2024	14.3%	28.0%	48.1%
...
SUMMARY STATS
# Positive	12	8	9
# Negative	13	16	15
Median Positive	9.7%	9.6%	15.0%
Median Negative	-12.6%	-12.3%	-14.1%
Max Positive	24.9%	33.1%	53.7%
Max Negative	-34.6%	-22.4%	-34.4%

Collapse to Preview

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/6/2026	24.9%
4/30/2026	23.8%	33.1%	53.7%
2/12/2026	2.3%	2.5%	14.4%
10/30/2025	19.5%	13.0%	15.0%
8/7/2025	-19.4%	-17.6%	-10.9%
5/1/2025	2.3%	7.5%	22.2%
2/13/2025	-15.0%	-22.4%	-31.8%
10/30/2024	14.3%	28.0%	48.1%
8/1/2024	11.7%	7.7%	11.5%
5/7/2024	-7.5%	-1.8%	-9.5%
2/14/2024	-15.4%	-21.8%	-17.4%
11/8/2023	0.3%	11.4%	26.5%
8/8/2023	2.2%	4.8%	14.5%
5/9/2023	-12.6%	-15.4%	12.5%
2/15/2023	14.2%	-1.8%	-4.8%
11/3/2022	-34.6%	-22.4%	-29.5%
8/4/2022	-13.5%	-12.8%	-31.8%
5/4/2022	-1.5%	-21.8%	-14.1%
2/9/2022	1.9%	-7.4%	-34.4%
10/27/2021	-17.6%	-9.6%	-16.0%
7/29/2021	-4.7%	-3.9%	-7.9%
5/5/2021	-9.4%	-11.7%	-7.7%
2/17/2021	7.7%	-0.7%	-14.5%
10/26/2020	-4.8%	-9.1%	-2.9%
8/4/2020	-2.0%	-13.8%	-6.9%
SUMMARY STATS
# Positive	12	8	9
# Negative	13	16	15
Median Positive	9.7%	9.6%	15.0%
Median Negative	-12.6%	-12.3%	-14.1%
Max Positive	24.9%	33.1%	53.7%
Max Negative	-34.6%	-22.4%	-34.4%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
06/30/2026	08/07/2026	10-Q
03/31/2026	05/01/2026	10-Q
12/31/2025	02/24/2026	10-K
09/30/2025	10/31/2025	10-Q
06/30/2025	08/08/2025	10-Q
03/31/2025	05/02/2025	10-Q
12/31/2024	02/26/2025	10-K
09/30/2024	10/31/2024	10-Q
06/30/2024	08/01/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/27/2024	10-K
09/30/2023	11/09/2023	10-Q
06/30/2023	08/09/2023	10-Q
03/31/2023	05/10/2023	10-Q
12/31/2022	02/27/2023	10-K
09/30/2022	11/04/2022	10-Q

Collapse to Preview

Report Date	Filing Date	Filing
06/30/2026	08/07/2026	10-Q
03/31/2026	05/01/2026	10-Q
12/31/2025	02/24/2026	10-K
09/30/2025	10/31/2025	10-Q
06/30/2025	08/08/2025	10-Q
03/31/2025	05/02/2025	10-Q
12/31/2024	02/26/2025	10-K
09/30/2024	10/31/2024	10-Q
06/30/2024	08/01/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/27/2024	10-K
09/30/2023	11/09/2023	10-Q
06/30/2023	08/09/2023	10-Q
03/31/2023	05/10/2023	10-Q
12/31/2022	02/27/2023	10-K
09/30/2022	11/04/2022	10-Q
06/30/2022	08/05/2022	10-Q
03/31/2022	05/05/2022	10-Q
12/31/2021	02/22/2022	10-K
09/30/2021	10/28/2021	10-Q
06/30/2021	07/30/2021	10-Q
03/31/2021	05/06/2021	10-Q
12/31/2020	02/26/2021	10-K
09/30/2020	10/29/2020	10-Q
06/30/2020	08/04/2020	10-Q
03/31/2020	05/07/2020	10-Q
12/31/2019	03/02/2020	10-K
09/30/2019	10/31/2019	10-Q

Recent Forward Guidance

Updated 8/7/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Revenue	1.50 Bil	1.51 Bil	1.51 Bil
Q3 2026 Revenue Growth	16.0%	16.25%	16.5%
Q3 2026 Organic Revenue Growth	11.0%	11.5%	12.0%
Q3 2026 Non-GAAP Income from Operations	285.00 Mil	290.00 Mil	295.00 Mil
Q3 2026 Non-GAAP Diluted EPS	1.42	1.45	1.47
2026 Revenue Growth	18.0%	18.25%	18.5%		3.8%	Raised	Guidance: 14.5% for 2026
2026 Organic Revenue Growth	13.0%	13.25%	13.5%		3.2%	Raised	Guidance: 10.0% for 2026
2026 Non-GAAP Income from Operations	1.14 Bil	1.15 Bil	1.16 Bil	5.0%		Raised	Guidance: 1.09 Bil for 2026
2026 Free Cash Flow	1.14 Bil	1.15 Bil	1.16 Bil	5.0%		Raised	Guidance: 1.09 Bil for 2026

Prior: Q1 2026 Earnings Reported 4/30/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	1.42 Bil	1.43 Bil	1.43 Bil
Q2 2026 Y/Y Revenue Growth	15.5%	16.0%	16.5%
Q2 2026 Y/Y Organic Revenue Growth	10.0%	10.5%	11.0%
Q2 2026 Non-GAAP income from operations	250.00 Mil	255.00 Mil	260.00 Mil
Q2 2026 Non-GAAP diluted earnings per share	1.27	1.29	1.32
2026 Y/Y Revenue Growth	14.0%	14.5%	15.0%		2.5%	Higher New	Guidance: 12.0% for 2026
2026 Y/Y Organic Revenue Growth	9.5%	10.0%	10.5%		1.5%	Higher New	Guidance: 8.5% for 2026
2026 Non-GAAP income from operations	1.08 Bil	1.09 Bil	1.10 Bil	3.8%		Higher New	Guidance: 1.05 Bil for 2026
2026 Free cash flow	1.08 Bil	1.09 Bil	1.10 Bil	3.8%		Higher New	Guidance: 1.05 Bil for 2026

Q4 2025 Earnings Reported 2/12/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2026 Revenue	1.33 Bil	1.34 Bil	1.34 Bil	1.9%		Higher New	Guidance: 1.31 Bil for Q4 2025
Q1 2026 Revenue Growth	14.0%	14.5%	15.0%		4.5%	Higher New	Guidance: 10.0% for Q4 2025
Q1 2026 Organic Revenue Growth	10.0%	10.5%	11.0%		2.0%	Higher New	Guidance: 8.5% for Q4 2025
Q1 2026 Non-GAAP Income from Operations	240.00 Mil	245.00 Mil	250.00 Mil	4.3%		Higher New	Guidance: 235.00 Mil for Q4 2025
Q1 2026 Non-GAAP Diluted EPS	1.21	1.24	1.26	3.3%		Higher New	Guidance: 1.2 for Q4 2025
2026 Revenue Growth	11.5%	12.0%	12.5%		-0.5%	Lower New	Guidance: 12.5% for 2025
2026 Organic Revenue Growth	8.0%	8.5%	9.0%		-2.9%	Lower New	Guidance: 11.4% for 2025
2026 Non-GAAP Income from Operations	1.04 Bil	1.05 Bil	1.06 Bil	16.0%		Higher New	Guidance: 905.00 Mil for 2025
2026 Free Cash Flow	1.04 Bil	1.05 Bil	1.06 Bil	13.5%		Higher New	Guidance: 925.00 Mil for 2025

Q3 2025 Earnings Reported 10/30/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2025 Revenue	1.31 Bil	1.31 Bil	1.32 Bil
Q4 2025 Revenue Growth	9.5%	10.0%	10.5%
Q4 2025 Organic Revenue Growth	8.0%	8.5%	9.0%
Q4 2025 Non-GAAP income from operations	230.00 Mil	235.00 Mil	240.00 Mil
Q4 2025 Non-GAAP diluted earnings per share	1.17	1.2	1.22
2025 Revenue Growth	12.4%	12.5%	12.6%		2.0%	Raised	Guidance: 10.5% for 2025
2025 Organic Revenue Growth	11.3%	11.4%	11.5%		1.9%	Raised	Guidance: 9.5% for 2025
2025 Non-GAAP income from operations	900.00 Mil	905.00 Mil	910.00 Mil	4.9%		Raised	Guidance: 862.50 Mil for 2025
2025 Free Cash Flow	920.00 Mil	925.00 Mil	930.00 Mil	4.2%		Raised	Guidance: 887.50 Mil for 2025

Insider Activity

Updated 7/9/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	7082026	210.43	14,458	3,042,343	43,600,955	Form
2	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	7072026	205.43	8,528	1,751,907	22,540,601	Form
3	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	7022026	201.25	9,093	1,829,978	23,798,364	Form
4	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	7022026	201.26	13,881	2,793,699	44,611,631	Form
5	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	6082026	235.88	44,158	10,416,148	55,560,495	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	7082026	210.43	14,458	3,042,343	43,600,955	Form
2	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	7072026	205.43	8,528	1,751,907	22,540,601	Form
3	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	7022026	201.25	9,093	1,829,978	23,798,364	Form
4	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	7022026	201.26	13,881	2,793,699	44,611,631	Form
5	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	6082026	235.88	44,158	10,416,148	55,560,495	Form
6	Rottenberg, Erika		Trust	Sell	6032026	199.01	2,000	398,015	6,168,237	Form
7	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	5282026	185.70	32,158	5,971,688	43,739,762	Form
8	Stafman, Andrew		See footnotes	Sell	5272026	184.14	1,000,000	184,140,000	114,166,800	Form
9	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	5212026	200.00	1,828	365,600	25,469,000	Form
10	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	5192026	197.44	1,376	271,676	25,503,792	Form
11	Stafman, Andrew		See footnotes	Sell	5122026	193.54	675,000	130,639,500	313,534,800	Form
12	Rottenberg, Erika		Trust	Sell	5062026	185.32	1,500	277,974	6,114,498	Form
13	Rottenberg, Erika		Trust	Sell	4232026	149.02	1,800	268,239	5,140,497	Form
14	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	4082026	133.39	15,715	2,096,193	31,418,483	Form
15	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	4062026	127.51	9,389	1,197,216	16,620,120	Form
16	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	4022026	122.79	8,231	1,010,653	17,156,917	Form
17	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	4022026	122.81	12,624	1,550,337	30,856,550	Form
18	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	3042026	125.00	806	100,750	18,495,125	Form
19	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	2192026	110.66	1,023	113,205	12,306,782	Form
20	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	1072026	135.97	7,213	980,752	15,260,729	Form
21	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	1052026	143.38	8,109	1,162,670	17,126,622	Form
22	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	1052026	143.37	13,266	1,901,948	29,694,385	Form
23	Stafman, Andrew		See footnotes	Sell	12022025	129.00	1,000,000	129,000,000	296,055,000	Form
24	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	11212025	120.70	546	65,902	15,396,251	Form
25	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	11192025	123.28	1,514	186,642	15,792,315	Form
26	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	10142025	115.00	8,035	924,025	14,906,070	Form
27	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	10072025	104.09	12,922	1,344,998	22,938,766	Form
28	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	10022025	100.59	13,681	1,376,146	23,467,702	Form
29	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	10022025	100.59	8,363	841,210	13,846,123	Form
30	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	8192025	105.94	1,807	191,433	15,468,892	Form
31	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	7082025	117.05	8,297	971,177	17,302,915	Form
32	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	7082025	117.06	13,595	1,591,376	28,911,193	Form
33	Viggiano, Aidan	Chief Financial Officer	Direct	Sell	7022025	124.33	7,964	990,137	19,409,869	Form
34	Shipchandler, Khozema	Chief Executive Officer	Direct	Sell	7022025	124.53	20,008	2,491,593	32,450,110	Form

Investor Activity (13F)

Updated Aug 11, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Sachem Head Capital Management LP	$288.8 Mil	7.0%	19	Hold	13F
No Street GP LP	$90.5 Mil	6.0%	31	TRIM -6.9%	13F
Dorsal Capital Management, LP	$88.1 Mil	3.5%	25	ADD +27.3%	13F
RJA Asset Management LLC	$8.6 Mil	3.2%	4	Hold	13F
SRS Investment Management, LLC	$259.7 Mil	2.7%	29	ADD +14.0%	13F
Alta Park Capital, LP	$14.9 Mil	2.4%	24	TRIM -16.0%	13F
California First Leasing Corp	$5.5 Mil	1.8%	39	Hold	13F
Slate Path Capital LP	$93.5 Mil	1.4%	44	TRIM -52.5%	13F
Jericho Capital Asset Management L.P.	$87.8 Mil	1.3%	23	New	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Jericho Capital Asset Management L.P.	$87.8 Mil	1.3%	23	New	13F
Dorsal Capital Management, LP	$88.1 Mil	3.5%	25	ADD +27.3%	13F
SRS Investment Management, LLC	$259.7 Mil	2.7%	29	ADD +14.0%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	As Of	Filing
Durable Capital Partners LP	$136.8 Mil	1.3%	40	Exited	Dec 31, 2025	13F
Blue Grotto Capital, LLC	$42.5 Mil	4.4%	24	Exited	Dec 31, 2025	13F
O'Neil Global Advisors, Inc.	$12.3 Mil	4.2%	45	Exited	Dec 31, 2025	13F
Nishkama Capital, LLC	$9.1 Mil	1.2%	49	Exited	Dec 31, 2025	13F
Exane Asset Management	$5.8 Mil	1.2%	34	Exited	Dec 31, 2025	13F
Melqart Asset Management (UK) Ltd	$5.8 Mil	0.6%	44	Exited	Dec 31, 2025	13F
Slate Path Capital LP	$93.5 Mil	1.4%	44	TRIM -52.5%	Mar 31, 2026	13F
Alta Park Capital, LP	$14.9 Mil	2.4%	24	TRIM -16.0%	Mar 31, 2026	13F
No Street GP LP	$90.5 Mil	6.0%	31	TRIM -6.9%	Mar 31, 2026	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Sachem Head Capital Management LP	$288.8 Mil	7.0%	19	Hold	13F
SRS Investment Management, LLC	$259.7 Mil	2.7%	29	ADD +14.0%	13F
Slate Path Capital LP	$93.5 Mil	1.4%	44	TRIM -52.5%	13F
No Street GP LP	$90.5 Mil	6.0%	31	TRIM -6.9%	13F
Dorsal Capital Management, LP	$88.1 Mil	3.5%	25	ADD +27.3%	13F
Jericho Capital Asset Management L.P.	$87.8 Mil	1.3%	23	New	13F
Alta Park Capital, LP	$14.9 Mil	2.4%	24	TRIM -16.0%	13F
RJA Asset Management LLC	$8.6 Mil	3.2%	4	Hold	13F
California First Leasing Corp	$5.5 Mil	1.8%	39	Hold	13F

TWLO Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Status	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing TWLO?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What TWLO Makes & Who Pays

TTM figures based on

TWLO Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Twilio — Investor Video Playlist

Products & Services

CMO Event | O Sexto Sentido do Marketing: Chega de Relatórios de Ontem

Twilio. Problem solved!

Twilio · 2026-05-14

Products & Services

The Tech Stack Behind Asana’s Marketing Success ️

Twilio · 2026-05-07

Products & Services

Twilio Segment Product Tour: AI Predictions

Twilio · 2026-02-18

Products & Services

Demo Series - Twilio Brasil: Orquestrando Agentes de Voz com IA: Como Escalar CX em Tempo Real

Twilio · 2026-02-12

Products & Services

Live Demo - See Event Triggered Customer Journeys | Twilio Segment

Twilio · 2025-07-14

Investor / Analyst

SIGNAL São Paulo Keynote 2024

Twilio · 2025-02-28

Industry Resources

Information Technology Resources

TechCrunch

Wired

CIO

MIT Technology Review

Gartner Insights

Ars Technica

Systems Software Resources

CNET

ZDNet

Gartner

Software Development Times

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 8/10/2026

Twilio (TWLO)

Market Price (8/11/2026): $249.59 | Market Cap: $38.1 BilSector: Information Technology | Industry: Systems Software

Twilio (TWLO)

Market Price (8/11/2026): $249.59Market Cap: $38.1 BilSector: Information TechnologyIndustry: Systems Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

TWLO in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Twilio (TWLO)

Major Customers of Twilio (TWLO)

Key Risks to Twilio (TWLO)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Twilio (TWLO)

INDUSTRY: Systems Software

Higher Rev Chg 3Y Avg | Lower P/S (Values for TWLO: 11.3% | 6.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TWLO: 11.3% | 112.5x)

Higher Rev Chg LTM (Value for TWLO: 17.8%)

Higher Rev Chg 3Y Avg (Value for TWLO: 11.3%)

Higher Op Mgn LTM (Value for TWLO: 6.1%)

Higher CFO/Rev LTM (Value for TWLO: 19.0%)

Higher FCF/Rev LTM (Value for TWLO: 17.7%)

Higher Total Yield (Value for TWLO: 3.0%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for TWLO: 11.3% | 6.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TWLO: 11.3% | 112.5x)

Higher Rev Chg LTM (Value for TWLO: 17.8%)

Higher Rev Chg 3Y Avg (Value for TWLO: 11.3%)

Higher Op Mgn LTM (Value for TWLO: 6.1%)

Higher CFO/Rev LTM (Value for TWLO: 19.0%)

Higher FCF/Rev LTM (Value for TWLO: 17.7%)

Higher Total Yield (Value for TWLO: 3.0%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TWLO: 11.3% | 6.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TWLO: 11.3% | 112.5x)

Higher Rev Chg LTM (Value for TWLO: 17.8%)

Higher Rev Chg 3Y Avg (Value for TWLO: 11.3%)

Higher Op Mgn LTM (Value for TWLO: 6.1%)

Higher CFO/Rev LTM (Value for TWLO: 19.0%)

Higher FCF/Rev LTM (Value for TWLO: 17.7%)

Higher Total Yield (Value for TWLO: 3.0%)

Best Bets in Information Technology

P/EBIT (Value for TWLO: 112.5x)

P/E (Value for TWLO: 33.3x)

Rev Chg 3Y Avg (Value for TWLO: 11.3%)

Rev Chg LTM (Value for TWLO: 17.8%)

Rev Chg Q (Value for TWLO: 22.0%)

FCF/Rev 3Y Avg (Value for TWLO: 17.2%)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

Market Price (8/11/2026): $249.59
Market Cap: $38.1 Bil
Sector: Information Technology
Industry: Systems Software