Feed / TWLO

Twilio Inc.

TWLO

Technology · 227.35 -1.8% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Twilio Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.

What changed
  • Revenue increased 22.0% versus the comparable filing period.
  • Gross margin fell 0.6 percentage points.
Company-1.8% todayVolume comparison unavailable
Market group0 of 1 activeCustomer Engagement Software · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
  • TWLO's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if TWLO's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Technology · Software - Infrastructure

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 22.0% versus the comparable filing period.
  • Operating margin improved 2.6 percentage points.
  • Net income increased 4659.4% versus the comparable filing period.
Evidence that challenges
  • Gross margin fell 0.6 percentage points.
What would clarify the read
  • TWLO's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements116
Verified relationships5
Evidence supporting the case
  • Latest annual revenue changed +13.7% year over year.
  • Operating margin changed +4.3 percentage points in the latest annual period.
  • Net margin changed +3.1 percentage points in the latest annual period.
  • Operating cash flow covered net income at 29.65x in the latest annual period.
Evidence challenging the case
  • Product pipeline and R&D has repeated adverse evidence across 4 filings.
Questions before a position
  • P/E is 1822% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 194% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

227.35
6m+81.1%12m+118.1%24m—
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.8B+61.3%$-5.45+18.7%
2022-12-31$3.8B+34.6%$-6.86+5.1%
2023-12-31$4.2B+8.6%$-5.54+0.2%
2024-12-31$4.5B+7.3%$-0.66-9.5%
2025-12-31$5.1B+13.7%$0.21-3.7%

What management says matters

Persistent and emerging business drivers

Legal and regulatory exposuremixed · 5 filings
“While the Company currently believes that the final outcomes of these matters will not have a material adverse effect on its business, the results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigatio…”
10-Q · Aug 7, 2026 ↗
Macroeconomic conditionsmixed · 5 filings
“Our usage-based revenue is also more immediately impacted by changes in consumer spending and macroeconomic conditions than our subscription-based revenue.”
10-Q · Aug 7, 2026 ↗
Product pipeline and R&Dnegative · 4 filings
“As a result of the enactment of this legislation, the Company’s income tax provision decreased in the current period, primarily related to the immediate expensing of domestic research and development expenses.”
10-Q · Oct 31, 2025 ↗
Foreign exchangenegative · 2 filings
“The decrease was primarily attributable to a $7.3 million decrease in other income, net, primarily driven by unrealized gains from fluctuations in foreign currency exchange rates and a $2.2 million increase in our share of losses from our equity method invest…”
10-Q · Oct 31, 2025 ↗

Valuation discipline

Descriptive valuation snapshot

Price/sales 7.2× · EV/sales 7.2×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

227.35-1.8% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for TWLO. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment

Fundamentals strengthened in the latest filing

10-Q filed 2026-08-07 against the comparable filing from 2025-08-08.

constructive
OperationsconstructiveEvidence score +4
liquidityneutralEvidence score 0
valuationpremium

Capital and cash conversion

Reported investment and cash context

Stock compensation / revenue
+9.5%

Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.

What improved

  • Revenue increased 22.0% versus the comparable filing period.
  • Operating margin improved 2.6 percentage points.
  • Net income increased 4659.4% versus the comparable filing period.

What weakened

  • Gross margin fell 0.6 percentage points.

Filing receipts

“This increase was attributable to the factors impacting our revenue and cost of revenue, as described above.”

“The increase was attributable to the factors impacting our revenue and cost of revenue, as described above.”

“This increase was primarily attributable to the increased usage of our products by our existing customers, as reflected in our DBNE of 115%, as well as an increase of $146.6 million in revenue derived from customer accounts not captured in our DBNE calculation, which are primarily new customer accounts.”

Point-in-time filing assessment published from the live pipeline.

Business ecosystem

The relationships behind TWLO

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

AMZNAmazon.com, Inc.customerMay 1, 2026 ▾

“In addition, if Amazon.com, Inc.”

Depended on by

HPPHudson Pacific Properties, Inc.partnerMay 8, 2026 ▾

“Salesforce.com subleases to Twilio Inc.”

Filing peers

BAND

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

TWLO is currently a Leader in the organic co-movement group Customer Engagement Software. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for TWLO; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.