olivLaw · US equity research
Twilio Inc. TWLO
Services-Prepackaged Software · SIC 7372 · Vertical: Services-Prepackaged Software (SIC 7372)
Twilio provides communications and customer engagement infrastructure (messaging, voice, email, authentication and a customer data platform). Revenue accelerated in 2026, reaching 1.499 billion USD in the second quarter of 2026 with 22% growth. The company raised its fiscal 2026 guidance to 18% to 18.5% reported revenue growth.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Twilio Inc. (TWLO) stock was 213.50 USD (−0.13% on the day), with market capitalisation 33.0 bn USD, P/E 26.8 on diluted EPS of 7.96 USD over the last 12 months, beta 1.47, 52-week range 108.49–301.27 USD. Latest reported quarter (Q3 2026): revenue of 1.6 bn USD (+19.9% YoY), net income of 161.2 m USD (+332.7% YoY), diluted EPS 1.00 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 34.6
- weak (30–45)
- Bollinger (20, 2)
- 203.76 – 303.26
- in the lower half of the band · %B 0.10 · band width 39.2%
- SMA 50 / 200
- 255.88 / 190.14
- mixed trend
- MACD (12, 26, 9)
- -13.27 / -6.54
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −29.0% | −1.1% | −28.0 pp | — |
| 3 months | +10.5% | −0.5% | +10.9 pp | — |
| 6 months | +11.5% | +4.4% | +7.2 pp | — |
| Year to date | +50.1% | +12.3% | +37.8 pp | — |
| 1 year | +64.3% | +13.5% | +50.7 pp | −1.2% |
| 3 years | +294.6% | +76.4% | +218.2 pp | +24.0% |
| 5 years | −31.3% | +63.7% | −94.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.2 bn | 1.2 bn | 1.2 bn | 1.3 bn | 1.4 bn | 1.4 bn | 1.5 bn | 1.6 bn |
| Cost of revenue | 595.1 m | 590.9 m | 625.7 m | 668.3 m | 703.6 m | 722.7 m | 773.2 m | 799.0 m |
| Gross profit | 599.7 m | 581.6 m | 602.7 m | 632.1 m | 662.4 m | 684.2 m | 725.9 m | 760.5 m |
| Research & development | 244.0 m | 254.3 m | 243.5 m | 262.3 m | 260.1 m | 262.2 m | 273.3 m | 280.4 m |
| Operating income | 13.7 m | 23.1 m | 37.0 m | 40.9 m | 56.8 m | 107.7 m | 84.5 m | 148.6 m |
| Depreciation & amortisation | 49.8 m | 49.6 m | 49.8 m ≈ | 48.5 m ≈ | 47.5 m | 34.2 m | 29.5 m ≈ | 27.7 m ≈ |
| Pre-tax income | -13.6 m | 26.6 m | 33.6 m | 32.7 m | -37.8 m | 102.2 m | 75.5 m | 139.1 m |
| Income tax | -1.1 m | 6.6 m | 11.2 m | -4.6 m | 8.1 m | 12.1 m | -991.7 m | -22.0 m |
| Net income | -12.5 m | 20.0 m | 22.4 m | 37.2 m | -45.9 m | 90.1 m | 1.1 bn | 161.2 m |
| Diluted EPS | -0.08 ≈ | 0.12 | 0.14 | 0.23 | -0.29 ≈ | 0.57 | 6.68 | 1.00 |
| Operating cash flow | 108.4 m | 191.0 m | 277.1 m ≈ | 263.6 m ≈ | 271.6 m | 153.2 m | 372.4 m ≈ | 389.2 m ≈ |
| Share repurchases | 420.1 m | 126.3 m | 197.0 m ≈ | 347.2 m ≈ | 198.5 m | 253.0 m | 70.0 m ≈ | 125.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 6-quarter history (min 28.7, median 219.1, max 1,046.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 650.1 m | 1.1 bn | 1.8 bn | 2.8 bn | 3.8 bn | 4.2 bn | 4.5 bn | 5.1 bn |
| Revenue YoY | +62.9% | +74.5% | +55.3% | +61.3% | +34.6% | +8.6% | +7.3% | +13.7% |
| Net income | -121.9 m | -307.1 m | -491.0 m | -949.9 m | -1.3 bn | -1.0 bn | -109.4 m | 33.8 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -2.36 | -3.35 | -5.45 | -6.86 | -5.54 | -0.66 | 0.21 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -18.8% | -27.1% | -27.9% | -33.4% | -32.8% | -24.4% | -2.5% | 0.7% |
| Free cash flow | 2.9 m | -31.3 m | 6.8 m | -104.2 m | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 682.3 m USD
- Financial debt
- 992.3 m USD
- Net debt
- 310.0 m USD
- Equity
- 7.8 bn USD
- Total assets
- 9.8 bn USD
- Debt / equity
- 0.13x
- Current ratio
- 4.03x
- ROE
- 0.4%
- ROA
- 0.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.8 bn | 2.8 bn | 3.8 bn | 4.2 bn | 4.5 bn | 5.1 bn | SEC (XBRL)· 24 Feb 2026verified |
| Cost of revenue | 846.1 m | 1.5 bn | 2.0 bn | 2.1 bn | 2.2 bn | 2.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Gross profit | 915.7 m | 1.4 bn | 1.8 bn | 2.0 bn | 2.3 bn | 2.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Research & development | 530.5 m | 789.2 m | 1.1 bn | 942.8 m | 1.0 bn | 1.0 bn | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | -492.9 m | -915.6 m | -1.2 bn | -876.5 m | -53.7 m | 157.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | 149.7 m | 258.4 m | 279.1 m | 284.4 m | 206.0 m | 195.4 m | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | -343.2 m ≈ | -657.2 m ≈ | -926.2 m ≈ | -592.1 m ≈ | 152.3 m ≈ | 353.2 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Pre-tax income | -504.4 m | -960.9 m | -1.2 bn | -996.7 m | -88.6 m | 55.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | -13.4 m | -11.0 m | 12.5 m | 18.7 m | 20.8 m | 21.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | -491.0 m | -949.9 m | -1.3 bn | -1.0 bn | -109.4 m | 33.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | -3.35 | -5.45 | -6.86 | -5.54 | -0.66 | 0.21 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 146.7 m | 174.2 m | 183.0 m | 183.3 m | 165.9 m | 159.8 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 933.9 m | 1.5 bn | 651.8 m | 655.9 m | 421.3 m | 682.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 251.2 m | 388.2 m | 547.5 m | 562.8 m | 588.5 m | 636.7 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 3.4 bn | 5.9 bn | 5.0 bn | 4.9 bn | 3.4 bn | 3.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Goodwill | 4.6 bn | 5.3 bn | 5.3 bn | 5.2 bn | 5.2 bn | 5.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 966.6 m | 1.1 bn | 849.9 m | 350.5 m | 238.5 m | 142.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 9.5 bn | 13.0 bn | 12.6 bn | 11.6 bn | 9.9 bn | 9.8 bn | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 60.0 m | 93.3 m | 124.6 m | 119.6 m | 100.2 m | 85.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | 302.1 m | 985.9 m | 987.4 m | 989.0 m | 990.6 m | 992.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Current liabilities | 448.3 m | 703.6 m | 808.2 m | 738.3 m | 820.2 m | 887.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 1.0 bn | 2.0 bn | 2.0 bn | 1.9 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 8.5 bn † | 11.0 bn † | 10.6 bn † | 9.7 bn † | 8.0 bn † | 7.8 bn † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 32.7 m | -58.2 m | -254.4 m | 414.8 m | 716.2 m | 1.0 bn | SEC (XBRL)· 24 Feb 2026verified |
| Capex | 25.8 m | 46.0 m | — | — | — | — | SEC (XBRL)· 22 Feb 2022verified |
| Free cash flow | 6.8 m ≈ | -104.2 m ≈ | — | — | — | — | SEC (XBRL)· 22 Feb 2022derived |
| Investing cash flow | -845.9 m | -2.5 bn | -616.5 m | 228.6 m | 1.4 bn | 80.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | 1.5 bn | 3.1 bn | 45.0 m | -643.6 m | -2.3 bn | -833.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | — | 0 | 0 | 668.8 m | 2.3 bn | 868.9 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 51 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 33.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet94
- Growth37
- Quality25
- Returns66
- Valuation67
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 45.87 – 280.88 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/Sales176.67 – 280.88 (Mid 226.26)10 companies used · median multiple 6.0x · quartiles 4.7x – 7.4xADBE, ADSK, CRM, INTU, NOW, PTC, RBLX, SNPS, SSNC, TTWO
- Peers: EV/EBITDA45.87 – 83.69 (Mid 69.09)6 companies used · median multiple 19.8x · quartiles 13.1x – 24.0xADBE, ADSK, CRM, PTC, SNPS, SSNC
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 51/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 48.6% | 21 (on a fixed band) | 14% |
| EBIT margin · Quality | 6.8% | 29 (vs peers) | 11% |
| FCF margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 9.8% | 39 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 13.7% | 33 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | -0.1x | 89 (vs peers) | 8% |
| Current ratio · Balance sheet | 4.5x | 100 (on a fixed band) | 8% |
| EV/Sales · Valuation | 5.7x | 67 (vs peers) | 22% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 2.0% | 66 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet94/100 · 2/2 factors with a value
- Growth37/100 · 2/2 factors with a value
- Quality25/100 · 2/3 factors with a value
- Returns66/100 · 1/1 factors with a value
- Valuation· partial67/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TWILIO INC. (TWLO). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 5.1 bn USD in 2025; YoY growth 13.7%; net margin 21.8%; ROE 14.9%; net debt/EBITDA -0.1x.
The estimated value range is 111.27–182.29 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 147.67 USD, the price of 213.50 USD leaves a potential of -30.8% (value / price − 1) and a margin of safety of -44.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 51/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net debt / EBITDA: -0.1x
- Current ratio: 4.5x
What contradicts it
- Gross margin: 48.6%
- EBIT margin: 6.8%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF margin, FCF yield.
Versus the vertical median
Services-Prepackaged Software (SIC 7372) · same industry (4-digit SIC) · compared with 21 companies
Only companies with a capitalisation between 4.9 bn and 311.6 bn (within 8× of the company's); 200 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CRWDCrowdStrike Holdings, Inc. | 246.8 bn | 1,120.4 | 1.3% | 1.1% | +21.7% | +89% / +307% |
| CRMSalesforce, Inc. | 186.9 bn | 20.7 | 19.4% | 22.0% | +9.6% | −1% / −10% |
| NOWServicenow, Inc. | 112.9 bn | 78.1 | 11.8% | 9.4% | +20.9% | −33% / −21% |
| SNOWSnowflake Inc. | 102.5 bn | — | -48.2% | -20.1% | +29.2% | +16% / +55% |
| ADBEAdobe Inc. | 96.7 bn | 13.9 | 61.9% | 28.0% | +10.5% | −22% / −59% |
| INTUIntuit Inc. | 95.3 bn | 21.7 | 23.6% | 21.3% | +13.9% | −44% / −38% |
| CDNSCadence Design Systems, Inc. | 90.4 bn | 65.5 | 22.9% | 22.5% | +14.1% | +6% / +21% |
| SNPSSynopsys Inc | 88.7 bn | 81.8 | 3.7% | 11.4% | +15.1% | +11% / −15% |
| ADSKAutodesk, Inc. | 56.4 bn | 35.0 | 53.9% | 21.1% | +17.5% | −11% / +24% |
| VEEVVeeva Systems Inc. | 50.3 bn | 50.8 | 14.4% | 29.3% | +16.3% | +29% / +78% |
| TTWOTake-Two Interactive Software, Inc. | 39.1 bn | — | -9.0% | -4.8% | +18.2% | −15% / +32% |
| RBLXRoblox Corporation | 35.3 bn | — | -478.2% | -16.5% | +35.8% | −48% / +25% |
| TWLOTwilio Inc. | 33.0 bn | 26.8 | 14.9% | 21.8% | +13.7% | +64% / +295% |
| MDBMongodb, Inc. | 26.5 bn | 449.1 | 2.0% | 2.1% | +22.8% | −1% / −21% |
| PTCPTC Inc. | 21.2 bn | 19.0 | 35.1% | 41.4% | +19.2% | +11% / +24% |
| UUnity Software Inc. | 18.7 bn | — | -18.9% | -29.0% | +2.0% | −0% / +44% |
| SSNCSs&C Technologies Holdings, Inc. | 18.7 bn | 22.9 | 12.7% | 13.2% | +6.6% | −7% / +41% |
| NTNXNutanix, Inc. | 17.2 bn | 12.3 | 37,460.2% | 52.8% | +12.4% | +33% / +48% |
| TYLTyler Technologies, Inc. | 16.8 bn | 53.3 | 10.5% | 13.5% | +9.1% | −10% / +4% |
| DOCUDocusign, Inc. | 15.0 bn | 49.1 | 17.8% | 9.8% | +8.2% | +16% / +87% |
| GWREGuidewire Software, Inc. | 14.0 bn | 104.7 | 10.5% | 9.4% | +22.7% | −21% / +71% |
| DTDynatrace, Inc. | 13.4 bn | 87.0 | 6.4% | 7.4% | +18.8% | +5% / −13% |
1- and 3-year price returns: for TWLO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 137.35 Total return -36% · Per year -36% | 242.23 Total return 13% · Per year 13% | 364.06 Total return 71% · Per year 71% |
| 3 years | 147.92 Total return -31% · Per year -12% | 292.12 Total return 37% · Per year 11% | 479.93 Total return 125% · Per year 31% |
| 5 years | 159.31 Total return -25% · Per year -6% | 352.27 Total return 65% · Per year 11% | 632.66 Total return 196% · Per year 24% |
- Exit P/E± 73.03
- Net margin± 51.12
- Annual revenue growth± 39.93
- Annual dilution± 4.30
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
Twilio provides communications and customer engagement infrastructure (messaging, voice, email, authentication and a customer data platform). Revenue accelerated in 2026, reaching 1.499 billion USD in the second quarter of 2026 with 22% growth 3. The company raised its fiscal 2026 guidance to 18% to 18.5% reported revenue growth 3.
SWOT
Strengths
- The platform has a broad customer base and a data component that supports personalized communications 1.
- Recent quarterly results show rising profitability and cash flow, strengthening the financial position 3.
- The company holds a portfolio of patents and registered trademarks that protect its technology 1.
Weaknesses
Opportunities
Risks
- Dependence on usagehigh
Most customers can reduce usage without penalty, which could affect revenue unexpectedly 1.
- Network provider feesmedium
Higher A2P messaging fees could reduce gross margins if they cannot be fully passed on 1 2.
- Impairment of prepaid assetsmedium
An impairment on prepaid network services affected the second quarter of 2026 and could recur if providers face difficulties 2.
- Security and privacyhigh
Security incidents or data protection requirements could bring costs and reputational harm 1.
- Macroeconomic conditionsmedium
Trade tensions and inflation could reduce customer spending and affect usage-based revenue 1.
Investment thesis
What would need to be true (bull case)
- If organic growth stays accelerated and margins improve, the company could keep growing profitability and cash flow 3.
- Its position as infrastructure for AI-enabled applications could open new demand for existing products 3.
- Net expansion from existing customers improved, which could support growth without acquiring many new customers 2 3.
What would break the thesis
- If organic growth slows toward the third quarter guidance, the company could lose recent momentum 3.
- Usage-based revenue is volatile, and customers can reduce consumption quickly, which could weaken predictability 1.
- The recent tax benefit does not reflect current operations, and without it reported profitability could look different 2 3.
What to watch
- Delivery of third quarter revenue and non-GAAP operating income guidanceQ3 2026
- Evolution of carrier A2P fees and their effect on gross margin2026
- Dollar-Based Net Expansion Rate from existing customersQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
The business
Twilio describes its platform as the infrastructure businesses use to communicate with customers through customizable APIs for messaging, voice, email and identity verification, complemented by the Segment data platform 1. As of December 31, 2025 it had over 402,000 Active Customer Accounts, from small businesses to large enterprises 1. Revenue is mainly usage-based: 74% in fiscal 2025, with the rest from subscriptions 1.
The company reorganized into a single operating and reportable segment from January 1, 2025 1. Its strategy focuses on one platform, customer data, artificial intelligence and cost reduction to improve profitability 1.
Its go-to-market model combines self-service customers, direct enterprise sales and partners such as ISVs and systems integrators 1. The company argues that AI agents will need communications infrastructure, which could broaden demand for its platform 3.
Segments
Messaging and Voice
Programmable Messaging and Programmable Voice are primarily usage-priced, charging for messages sent or call minutes 1. Revenue here is most sensitive to consumer activity and macroeconomic conditions 1.
Trends
- AI as a demand drivertailwind
The company argues that AI agents need communications infrastructure, which could increase platform usage if this demand materializes 3.
- Carrier fee increases for A2P messagesheadwind
U.S. mobile carriers have raised fees for A2P messages, which the company passes through at cost but which could weigh on gross margins 1 2.
- Sensitivity to macroeconomic conditionsmixed
Because most revenue is usage-based, a slowdown in customer spending could quickly affect revenue, so the trend depends on economic conditions 1.
- Release of deferred tax valuation allowancemixed
The release of part of the U.S. deferred tax asset valuation allowance produced a large income tax benefit in 2026, which does not directly reflect operating activity 2 3.
Competitive position
Competitors include CPaaS companies, regional network service providers, customer relationship management vendors, standalone customer data platform vendors and other software companies 1. The company states that none of its competitors compete directly across all its product offerings 1.
Key competitive factors include completeness of offering, global reach, ease of integration, reliability and price 1. The company expects competition to intensify with new products and new market entrants 1.
- CPaaS providers
Communications platform-as-a-service companies offering messaging and voice products similar to Twilio's 1.
- Regional network service providers
Operators offering limited developer functionality on their own physical infrastructure 1.
- Customer relationship management vendors
Companies selling customer relationship and experience solutions that overlap with digital engagement centers 1.
- Standalone customer data platform vendors
Companies competing directly with Segment on customer data and personalization 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Twilio’s (TWLO) AI Push Finds a Strong Fit in Latin AmericaYahoo Finance — News · 07 Sept 2026 · EN
The latest news item in our archive is from 07 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report30 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report17 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report01 May 2026
- Current report30 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement28 Apr 2026
- Current report24 Mar 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Annual report24 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Twilio Inc. · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Twilio Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Twilio Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.