Twilio Inc (TWLO)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
There is little to fault in Twilio's substance: an 81 percent equity ratio, roughly $1.35 billion of net cash, $945.4 million of free cash flow in 2025, 402,000 active customer accounts and dollar-based net expansion up from 103 to 108 percent. Existential questions do not arise here. What is missing for green is proof that the earning power holds: the first annual profit is razor thin at $33.8 million on $5,067.2 million of revenue, the fourth quarter of 2025 fell back to a $45.9 million loss after the $80.6 million Syniverse impairment, and gross margin keeps sliding because a growing share of revenue is pass-through network fees carrying no gross profit — $46.1 million of a $234.4 million increase in the first quarter of 2026 alone. On top of that sits $5,292.5 million of goodwill inside $7,784.1 million of equity, written by the same management that has already impaired $285.7 million of Segment assets and $80.6 million of Syniverse. That is an open operating question, not a broken balance sheet. Hence yellow. The decision is yours.
symbol.quality_note
Twilio sells businesses the pipes for text messages, phone calls and login codes. In 2025 it kept a profit for the first time since its 2016 IPO: $33.8 million on $5,067.2 million of revenue. Revenue then grew 20 percent in the first quarter of 2026 — but $46.1 million of the $234.4 million increase was simply fees newly charged by U.S. mobile carriers and passed straight through. We read the filings to the end and work out how much of that growth the company actually owns.
Read the analysis
Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at TWLO since then.
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Appears in These Scanners
This stock currently matches 17 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 197.40 $ — 73% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Sells AIDer Geschäftsbericht 10-K für 2025 beschreibt KI in Item 1 als Bestandteil der verkauften Plattform: Die Kundendaten-Plattform Segment nutzt laut Filing generative und vorhersagende KI zur Zielgruppenbildung, die Telefonie-Schnittstelle bindet KI-gestützte virtuelle Agenten ein, und die Plattform selbst wird als Verbindung aus Kommunikationskanälen, Kontextdaten und KI-gestützter Steuerung dargestellt.
View the full file — quotes, sources, reviewed filings
„It also provides privacy and compliance tools, unifies cross-channel data into trusted customer profiles for enrichment and machine learning (“ML”), enables real-time personalization and journey orchestration, and uses generative and predictive AI to build targeted audiences and deliver 1:1 experiences at scale."
Es bietet außerdem Werkzeuge für Datenschutz und Regelkonformität, führt kanalübergreifende Daten zu verlässlichen Kundenprofilen für Anreicherung und maschinelles Lernen („ML“) zusammen, ermöglicht Personalisierung in Echtzeit und die Steuerung von Kundenreisen und nutzt generative und vorhersagende KI, um Zielgruppen zu bilden und 1:1-Erlebnisse in großem Maßstab auszuliefern.
„The Twilio platform combines our communications channels and software solutions with contextual data and AI-powered orchestration, enabling businesses to deliver amazing customer engagement across the entire customer journey."
Die Twilio-Plattform verbindet unsere Kommunikationskanäle und Software-Lösungen mit Kontextdaten und KI-gestützter Steuerung und versetzt Unternehmen in die Lage, entlang der gesamten Kundenreise beeindruckende Kundenansprache zu liefern.
„We are continuing to invest in AI-enabled products and features for our customers, as well as internal applications to automate processes and help our business run more efficiently."
Wir investieren weiterhin in KI-gestützte Produkte und Funktionen für unsere Kunden sowie in interne Anwendungen, die Abläufe automatisieren und unser Geschäft effizienter machen.
Filings Reviewed: 10-K 2026-02-24 · 10-Q 2026-05-01 · 8-K 2026-06-17 · 8-K 2026-03-24 · DEF 14A 2026-04-28
Rated on July 26, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 6.7% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 31
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 5.71 | 5.39 – 6.16 | 5,821 | 16.9% | 31 |
| 12/31/2027 | 6.65 | 5.93 – 7.63 | 6,390 | 16.3% | 32 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.59 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.08 | – | 1,195 | 11.00 | -1.00 | 108 | 94 |
| 2025: Q1 | 0.12 | – | 1,173 | 12.00 | 1.70 | 191 | 178 |
| 2025: Q2 | 0.14 | – | 1,228 | 13.50 | 1.80 | 277 | 264 |
| 2025: Q3 | 0.23 | – | 1,300 | 14.70 | 2.90 | 264 | 248 |
| 2025: Q4 | -0.30 | – | 1,366 | 14.30 | -3.40 | 307 | 344 |
| 2026: Q1 | 0.57 | 361.80 | 1,407 | 20.00 | 6.40 | 153 | 132 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 277 | -41 | -41 | -0.47 | 10 | 329 | 413 |
| 2017 | 399 | -66 | -64 | -0.70 | -3 | 360 | 450 |
| 2018 | 650 | -115 | -122 | -1.26 | 8 | 438 | 1,029 |
| 2019 | 1,134 | -370 | -307 | -2.36 | 14 | 4,279 | 5,151 |
| 2020 | 1,762 | -493 | -491 | -3.35 | 33 | 8,453 | 9,487 |
| 2021 | 2,842 | -916 | -950 | -5.45 | -58 | 11,031 | 12,999 |
| 2022 | 3,826 | -1,031 | -1,256 | -6.86 | -254 | 10,559 | 12,564 |
| 2023 | 4,154 | -390 | -1,015 | -5.54 | 415 | 9,733 | 11,610 |
| 2024 | 4,458 | -40 | -109 | -0.66 | 716 | 7,953 | 9,865 |
| 2025 | 5,067 | 175 | 34 | 0.21 | 1,039 | 7,822 | 9,771 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
After nine loss-making years since the IPO, 2025 finally showed a profit: $33.8 million, after −$109.4 million (2024) and −$1,015.4 million (2023). Income from operations swung from −$876.5 million through −$53.7 million to +$157.8 million. The first quarter of 2026 confirmed the trend with $90.1 million of net income on $1,406.9 million of revenue.
Operating cash flow climbed from $414.8 million (2023) through $716.2 million (2024) to $1,003.2 million (2025), with free cash flow at $945.4 million — 19 percent of revenue. As of March 31, 2026, $2,346.3 million of cash and securities stood against $992.7 million of notes, and the equity ratio was 81 percent.
Of the $234.4 million revenue increase in the first quarter of 2026, $46.1 million came from A2P fees charged by major U.S. carriers and passed through; in 2025 the figure was $49.5 million. Twilio itself writes that such pass-throughs lift revenue and cost of revenue together while lowering gross margin. It fell from 51 percent (2024) to 49 percent (2025) and to 48.6 percent in the first quarter of 2026.
At $600.4 million, stock compensation cost roughly eighteen times full-year net income in 2025 and just under 12 percent of revenue. The trend points down — $675.9 million (2023), $616.6 million (2024) — and net burn fell from 5.3 percent to 1.5 percent. Even so, better than 25 percent of the votes cast on June 16, 2026 opposed the new equity plan.
The Syniverse stake, bought for $750.0 million in 2022, was carried at $275.1 million as of March 31, 2026, including an $80.6 million impairment taken in 2025. The Segment product group grew from $295.3 million (2023) to $303.3 million (2025), and $285.7 million of intangibles there were written off at the end of 2023. Goodwill of $5,292.5 million remains on the balance sheet.
Dollar-based net expansion rose from 103 percent (2023) through 104 percent (2024) to 108 percent (2025) and 114 percent in the first quarter of 2026 — existing customers are spending meaningfully more again. The ten largest accounts made up 9 percent of 2025 revenue, so a single defection would be survivable.
Twilio turned profitable for the first time since its IPO in 2025, throws off $945.4 million of free cash flow and sits on roughly $1.35 billion of net cash — this is no longer a turnaround hope, it is a working business. The price is in the filings too: a fifth of the latest growth is pass-through carrier fees with no added gross profit, gross margin has slipped for two years, stock compensation costs eighteen times net income, and $275 million is what remains of $750 million paid for Syniverse. Buying here means buying infrastructure with real cash flow — and the open question of how much sticks at the end of the wire. Not investment advice.
- Twilio reached our research list through our in-house stock scanner: on July 25, 2026 the stock ranked 26th on the U.S. side of the turnaround list — 62 hits, turnaround check 6 of 8. That is a dated snapshot: the lists are recomputed daily, and the rank rests on two mandatory pillars (at least 50 percent below the all-time high, Altman Z of at least 1.1). Should the price rise above roughly $221.75 — half the all-time closing high of $443.49 set on February 18, 2021 — the stock drops out of the list. At the 52-week high of $238.48 that had already happened.
- Currency of the filings: this analysis works from the annual report 10-K for 2025 (February 24, 2026), the quarterly report 10-Q as of March 31, 2026 (May 1, 2026), the quarterly report 10-Q as of September 30, 2025 (October 31, 2025) for the nine-month figures, and every filing made afterwards — notably the 8-K reports dated June 17, 2026 (annual meeting) and March 24, 2026 (board appointment) and the DEF 14A dated April 28, 2026. After May 1, 2026 only insider and sale notices (Form 4, Form 144) plus those 8-K reports were filed; nothing since changes the states described here. The next quarterly report was not available for this analysis.
- Valuation figures are dated and evergreen: the market capitalization of roughly $29.1 billion carries the July 24, 2026 data date and follows from 151,773,860 shares (quarterly report cover page, April 17, 2026) times the $191.46 closing price on July 24, 2026 — the cross-check ties out exactly. As an additional filing-documented anchor, buybacks in the first quarter of 2026 averaged roughly $120.70 per share; the gap to today is price action, not a data error. Analyses are evergreen; daily prices are not a reason to buy.
- No confusion: the Segment product group (the customer data platform acquired in 2020) is not the same thing as a reportable segment under accounting rules. Twilio had two reportable segments through the second quarter of 2025 and has reported a single one since the third quarter of 2025 — nothing was sold.
About the Company
Twilio Inc. bietet mit ihren Tochtergesellschaften Lösungen für die Kundeninteraktion in den USA und international an.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 5,558 |
| Headquarters | San Francisco, CA |
| Address | 101 Spear Street, 94105 San Francisco, United States |
| Phone | 415 390 2337 |
| Website | twilio.com |
| IPO Date | 23. Jun 2016 |
| ISIN | US90138F1021 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Khozema Z. Shipchandler | CEO & Director | 1974 |
| Aidan Viggiano | Chief Financial Officer | 1980 |
| Christy Lake | Chief Administrative Officer | 1974 |
| Bryan Vaniman | Senior Vice President of Corporate Development, Investor Relations & Treasury | 1976 |
| Chris Koehler | Chief Marketing Officer | – |
| Amy Holcroft | Chief Privacy Officer | – |
| Thomas Wyatt | Chief Revenue Officer | – |
| Inbal Shani | Chief Product Officer | – |
| Juliana Chen | Corporate Secretary | – |
| Robin Grochol | Vice President of Product, Data, Security & Identity, | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 6. Jul 2026 | Shipchandler Khozema | Chief Executive Officer | Sell | 1,060 | 213.25 | 226,046 |
| 6. Jul 2026 | Shipchandler Khozema | Chief Executive Officer | Sell | 2,891 | 212.36 | 613,941 |
| 6. Jul 2026 | Shipchandler Khozema | Chief Executive Officer | Sell | 4,434 | 211.26 | 936,724 |
| 6. Jul 2026 | Shipchandler Khozema | Chief Executive Officer | Sell | 2,300 | 210.08 | 483,178 |
| 6. Jul 2026 | Shipchandler Khozema | Chief Executive Officer | Sell | 1,000 | 208.48 | 208,484 |
| 6. Jul 2026 | Shipchandler Khozema | Chief Executive Officer | Sell | 2,773 | 206.99 | 573,970 |
| 21. Apr 2026 | Erika Rottenberg | Director | Sell | 1,800 | 149.02 | 268,236 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.