Twilio Inc.
Financial Performance
Twilio Revenue & Financials
Revenue
$5.1B (FY2025)
Market Cap
$37.8B
Net Income
$33.8M
Employees
5,492
What is Twilio's revenue?
Twilio had $5.1B in revenue for fiscal year 2025, up 13.7% from 2024. Net income was $33.8M.
- Latest revenue
- $5.1B (FY2025)
- Year-over-year
- +13.7%
- Growth rate (CAGR)
- 38.1% over 9 years
- Peak revenue
- $5.1B (FY2025)
- Years of data
- 10
- Employees
- 5,492
Financial Analysis
Twilio moved from heavy losses to profit in three years. Net loss attributable to common stockholders was $1.256 billion in 2022 and $1.015 billion in 2023, narrowed to $109.4 million in 2024, and turned into net income of $33.8 million in 2025 on revenue of $5.067 billion. In Q2 2026 Twilio reported revenue of $1.499 billion, GAAP income from operations of $84.5 million, non-GAAP income from operations of $284.6 million, and record free cash flow of $352.6 million. Q2 2026 GAAP net income of $1.067 billion was inflated by a one-time, non-cash release of a valuation allowance on U.S. deferred tax assets worth $5.91 per diluted share. Dollar-based net expansion improved to 116% from 108% a year earlier. A $2.0 billion buyback authorized in January 2025 continues the capital-return program that followed a $3.0 billion repurchase plan.
Revenue Trend Analysis
YoY Change
+13.7%
9-Year CAGR
+38.1%
Peak Year
2025
Trend
Consistent Growth
Twilio Inc. has 10 full fiscal year figures on this page, compounding at +38.1% annually over 9 years. The most recent year saw a 13.7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $5.1B. Of 9 comparable year-over-year steps, 9 showed growth and 0 showed a decline.
Annual revenue history
Click any row to see year details.
Twilio Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $1B | — | $9.8B | $1.9B | $7.8B | — | Form 10-K |
| FY2024ended Dec 31, 2024 | $716.2M | — | $9.9B | $1.9B | $8B | — | Form 10-K |
| FY2023ended Dec 31, 2023 | $414.8M | — | $11.6B | $1.9B | $9.7B | — | Form 10-K |
| FY2022ended Dec 31, 2022 | -$254.4M | — | $12.6B | $2B | $10.6B | — | Form 10-K |
| FY2021ended Dec 31, 2021 | -$58.2M | $46M | $13B | $2B | $11B | -$104.2M | Form 10-K |
| FY2020ended Dec 31, 2020 | $32.7M | $25.8M | $9.5B | $1B | $8.5B | $6.8M | Form 10-K |
| FY2019ended Dec 31, 2019 | $14M | $45.4M | $5.2B | $871.1M | $4.3B | -$31.3M | Form 10-K |
| FY2018ended Dec 31, 2018 | $8M | $5.1M | $1B | $590.5M | $438.2M | $2.9M | Form 10-K |
| FY2017ended Dec 31, 2017 | -$3.3M | $9.2M | $449.8M | $89.9M | $359.8M | -$12.5M | Form 10-K |
| FY2016ended Dec 31, 2016 | $10.1M | $14.2M | $412.7M | $83.2M | $329.4M | -$4.1M | Form 10-K |
Keep researching Twilio
Twilio Revenue and Financial FAQ
What were Twilio's total revenue and net income for FY2025?
Twilio reported full-year FY2025 revenue of $5.067 billion (up 14% year-over-year) and achieved its historic first full-year GAAP net income of $33.8 million, marking a decisive shift from historical multi-billion-dollar operating losses.
How fast did Twilio grow in Q2 2026?
In Q2 2026, Twilio generated $1.499 billion in revenue, surging 22% reported (and 17% organic) year-over-year, prompting management to raise full-year 2026 revenue growth guidance to 18%–18.5%.
What is Twilio's non-GAAP operating margin profile?
Through rigorous operational efficiency under CEO Khozema Shipchandler, Twilio expanded its non-GAAP operating margin to approximately 19% in Q2 2026, generating $284.6 million in quarterly non-GAAP operating income.
How much free cash flow does Twilio generate?
Twilio achieved record free cash flow of $352.6 million in Q2 2026 alone, converting over 23% of revenue into cash and expecting to generate over $1.2 billion in annual free cash flow.
What is the scale of Twilio's share repurchase program?
Twilio has executed massive capital returns: following a completed $3.0 billion share repurchase plan, the Board authorized an additional $2.0 billion share buyback in January 2025, retiring tens of millions of shares and offsetting stock-based compensation dilution.
Why did Twilio report an anomalous $1.067 billion GAAP net income in Q2 2026?
Q2 2026 GAAP net income was significantly boosted by a one-time, non-cash tax accounting benefit: the release of a valuation allowance on US deferred tax assets worth $5.91 per diluted share, reflecting sustained expected future domestic taxable profitability.
How much cash and liquid assets does Twilio maintain on its balance sheet?
Twilio holds a strong balance sheet with approximately $4.0 billion in cash, cash equivalents, and short-term marketable securities, with minimal long-term debt.
What is the revenue breakdown between Communications and Segment?
The Communications business (Messaging, Voice, Email) generates roughly 94% of total revenue (~$4.76 billion in 2025), while Twilio Segment generates approximately 6% (~$300 million in ARR).
How has Twilio reduced Stock-Based Compensation (SBC)?
Twilio aggressively curtailed SBC from over 21% of revenue in 2022 down toward 10–12% of revenue by 2025–2026, aligning executive compensation with GAAP profitability and free cash flow per share.
What is Twilio's gross margin profile?
Twilio's GAAP gross margin hovers around 49–51%, while non-GAAP gross margin sits near 53–55%. Gross margins are constrained by telecommunications network fees and pass-through carrier surcharges.
What is Twilio's Dollar-Based Net Expansion Rate (DBNER) trend?
Twilio's DBNER accelerated from a low of 102% in late 2023 to 108% in 2025 and 116% in mid-2026, driven by higher usage from enterprise customers and AI agent traffic.
Does Twilio pay a cash dividend to shareholders?
Twilio does not pay a cash dividend, opting instead to return 100% of excess capital to shareholders through its aggressive multi-billion-dollar share repurchase programs.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Twilio Revenue & Financials." CorpDigest, https://corpdigest.com/company/twilio/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Twilio reported $5.1B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/twilio/financials" target="_blank" rel="noopener">CorpDigest — Twilio financials</a></div>Related Financial Audits
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