TWILIO (TWLO) Company Report

Twilio reported record Q4 2025 revenue of $1.4 billion, up 14% year-over-year, and full-year 2025 revenue of $5.1 billion, representing 14% reported growth and 13% organic growth.
The company achieved record non-GAAP income from operations of $256 million in Q4 2025 and $924 million for the full-year, marking its first full-year of GAAP profitability with $158 million in GAAP income from operations.
Free cash flow reached $256 million in Q4 2025 and $945 million for the full-year, with $855 million in share repurchases completed in 2025.
For Q1 2026, Twilio expects revenue between $1.335 billion and $1.345 billion (14%-15% reported growth) and non-GAAP income from operations of $240 million-$250 million.
Full-year 2026 guidance projects reported revenue growth of 11.5%-12.5% (8%-9% organic), non-GAAP income from operations of $1.04 billion-$1.06 billion, and free cash flow of $1.04 billion-$1.06 billion.

Feb 12, 2026, 10:00 PM

Transcript

Twilio Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance

TWLO

Earnings

Guidance Update

Share Buyback

Twilio reported record Q4 2025 revenue of $1.4 billion and full-year 2025 revenue of $5.1 billion, representing 14% reported growth for both periods. The company also achieved its first full year of GAAP profitability with $158 million in GAAP income from operations for 2025.
Profitability metrics were strong, with Q4 2025 non-GAAP income from operations at $256 million and full-year 2025 non-GAAP income from operations at $924 million, up 29% year-over-year. Free cash flow for Q4 2025 was $256 million and $945 million for the full year 2025, a 44% year-over-year increase.
Key growth drivers included accelerating Voice revenue growth (high teens in Q4) with Voice AI revenue growing above 60% year-over-year, strong performance in self-serve (28% Y/Y growth in Q4) and ISV channels (26% Y/Y growth in Q4), and a 26% year-over-year increase in multi-product customer count.
For Q1 2026, Twilio expects revenue between $1.335 billion and $1.345 billion and non-GAAP income from operations between $240 million and $250 million. Full-year 2026 guidance includes reported revenue growth of 11.5%-12.5%, non-GAAP income from operations of $1.04 billion-$1.06 billion, and free cash flow of $1.04 billion-$1.06 billion.
The company completed $855 million in share repurchases in 2025, representing 90% of its free cash flow for the year.

Feb 12, 2026, 10:00 PM

Transcript

Twilio announces Q4 and Full Year 2025 results, provides 2026 guidance

TWLO

Earnings

Guidance Update

Twilio reported Q4 2025 revenue of $1,366 million, representing 14% year-over-year reported growth and 12% organic growth. For the full year 2025, reported revenue was $5,067 million, with 14% reported growth and 13% organic growth year-over-year.
In Q4 2025, Non-GAAP Gross Profit was $682 million (49.9% margin) and Non-GAAP Income from Operations was $256 million. Full-year 2025 Non-GAAP Income from Operations reached $924 million and Free Cash Flow was $945 million.
The company maintained strong customer engagement with a Dollar-Based Net Expansion Rate of 109% in Q4 2025 and 108% for the full year, serving over 402,000 active customer accounts.
For Q1 2026, Twilio expects reported revenue between $1.335 billion and $1.345 billion (14% to 15% Y/Y growth) and organic revenue growth of 10% to 11% Y/Y. Full-year 2026 guidance includes reported revenue growth of 11.5% to 12.5% Y/Y and Non-GAAP income from operations between $1.04 billion and $1.06 billion.
A significant business highlight was securing a nine-figure renewal with a leading marketing automation platform, which is the largest deal in Twilio's history.

Feb 12, 2026, 10:00 PM

Presentation

Twilio Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance

TWLO

Earnings

Guidance Update

Revenue Acceleration/Inflection

Twilio reported strong financial results for Q4 2025, with revenue reaching $1.4 billion (up 14% reported, 12% organic) and full-year 2025 revenue of $5.1 billion (up 14% reported, 13% organic). The company also achieved record non-GAAP income from operations of $256 million in Q4 and $924 million for the full year, alongside $945 million in free cash flow for 2025.
The company saw accelerating revenue growth, expanding operating margins, and significant free cash flow growth in 2025, driven by strong performance in Voice (high teens growth in Q4), with Voice AI revenue accelerating above 60% year-over-year. Self-serve and ISV channels also showed strong growth, both exceeding 25% in Q4.
For Q1 2026, Twilio expects revenue between $1.335 billion and $1.345 billion (14%-15% reported growth, 10%-11% organic growth) and non-GAAP income from operations of $240 million-$250 million. Full-year 2026 guidance includes reported revenue growth of 11.5%-12.5% (8%-9% organic growth) and non-GAAP income from operations of $1.04 billion-$1.06 billion.
Twilio completed $855 million in share repurchases for the full year 2025, representing 90% of its free cash flow, and expects full-year 2026 free cash flow in the range of $1.04 billion-$1.06 billion.

Feb 12, 2026, 10:00 PM

Transcript

Twilio Announces Strong Q4 and Full Year 2025 Results with Positive 2026 Guidance

TWLO

Earnings

Guidance Update

Share Buyback

Twilio reported Q4 2025 revenue of $1.37 billion, representing a 14% increase year-over-year, and full-year 2025 revenue of $5.07 billion, also up 14% year-over-year. Organic revenue growth was 12% for Q4 2025 and 13% for FY 2025.
The company demonstrated improved profitability, with Non-GAAP income from operations reaching $255.6 million for Q4 2025 and $924.0 million for the full year 2025. Non-GAAP net income per share was $1.33 for Q4 2025 and $4.89 for the full year 2025.
Twilio generated significant free cash flow of $256.1 million in Q4 2025 and $945.4 million for the full year 2025.
For Q1 2026, Twilio initiated revenue guidance of $1.335 to $1.345 billion. The company also provided full-year 2026 Non-GAAP income from operations guidance of $1.04 billion to $1.06 billion and a free cash flow range of $1.04 billion to $1.06 billion.
In 2025, Twilio repurchased approximately $854.6 million of its Class A common stock, with $1.1 billion of the authorized amount remaining available for future repurchases as of December 31, 2025.

Feb 12, 2026, 9:10 PM

8-K

Twilio Announces Fourth Quarter and Full Year 2025 Results

TWLO

Earnings

Guidance Update

Share Buyback

Twilio reported Q4 2025 revenue of $1.37 billion, an increase of 14% reported and 12% organic year-over-year, and full year 2025 revenue of $5.07 billion, up 14% reported and 13% organic year-over-year.
For Q4 2025, Non-GAAP income from operations was $256 million and Non-GAAP net income per share was $1.33. For the full year 2025, Non-GAAP income from operations reached $924 million and Non-GAAP net income per share was $4.89.
The company initiated Q1 2026 revenue guidance in the range of $1.335 to $1.345 billion, with non-GAAP income from operations projected between $240 to $250 million, and non-GAAP diluted earnings per share expected between $1.21 to $1.26.
For fiscal year 2026, Twilio anticipates reported revenue growth of 11.5% to 12.5%, non-GAAP income from operations between $1.04 billion to $1.06 billion, and free cash flow also between $1.04 billion to $1.06 billion.
Twilio repurchased $198.0 million in Class A common stock during Q4 2025, contributing to approximately $854.6 million in total repurchases for the full year 2025, with $1.1 billion remaining under the authorized program as of December 31, 2025.

Feb 12, 2026, 9:05 PM

Press Release

Inertia Enterprises Secures $450 Million Investment for Fusion Energy Commercialization

TWLO

New Projects/Investments

Inertia Enterprises, a commercial fusion energy company founded in 2024, announced a $450 million Series A investment led by Bessemer Venture Partners, with participation from GV (Google Ventures), Modern Capital, Threshold Ventures, and others.
The funding will advance Inertia's plans to build a fusion pilot plant based on physics proven at the National Ignition Facility (NIF), including the construction of the Thunderwall laser and a production line to mass manufacture fuel targets.
The company aims to deliver grid-scale energy through a phased commercialization roadmap, utilizing the only fusion energy approach proven to produce more power than it consumes.
Inertia's leadership team includes co-founder and CEO Jeff Lawson (former CEO of Twilio), Chief Scientist Dr. Annie Kritcher, and CTO Prof. Mike Dunne.

Feb 11, 2026, 1:30 PM

Press Release

Twilio Discusses Voice AI Growth and Strategy at UBS Tech Conference

TWLO

New Projects/Investments

Revenue Acceleration/Inflection

Twilio's Voice business is experiencing an inflection point of growth due to AI, particularly advancements in speech recognition, generative AI voices, and large language models (LLMs), with its Programmable Voice product designed to interface well with AI.
Voice revenue accounted for 12% of Twilio's total revenue in 2024 and saw its growth rate reaccelerate to the mid-teens, marking the highest growth in three years.
Twilio offers differentiated Voice solutions, including Conversation Relay (for speech recognition and voice providers) and Conversational Intelligence (for call analysis and LLM application), with Conversation Relay having a list price of $0.07 per minute compared to $0.01 per minute for programmable voice alone.
The company views Voice AI as a high-margin opportunity to automate expensive and inefficient customer interactions, with enterprises currently in the testing phase for surgical deployment of AI agents.

Dec 3, 2025, 9:15 PM

Transcript

Twilio Discusses Voice AI Growth and Strategy at UBS Conference

TWLO

New Projects/Investments

Revenue Acceleration/Inflection

Twilio's Voice business, which constituted 12% of revenue in 2024, is experiencing a renaissance largely driven by the emergence of AI, with AI's contribution to Voice business growth increasing over the last several quarters.
The company is evolving its Voice product by offering programmable features and abstraction layers like Conversation Relay and Conversational Intelligence, which interface with AI models to provide advanced functionalities such as call recording, transcription, and intelligent analysis.
Voice AI solutions present a significant upsell opportunity, with Conversation Relay having a list price of $0.07 per minute, compared to $0.01 per minute for basic Programmable Voice, contributing to Voice being a higher-margin channel for Twilio.
Enterprise adoption of Voice AI is currently in its early innings, with companies taking a surgical approach to testing and deployment, particularly in regulated verticals like healthcare and credit unions.

Dec 3, 2025, 9:15 PM

Transcript

Twilio Discusses AI-Driven Growth and Strategic Positioning in Voice Market

TWLO

New Projects/Investments

Revenue Acceleration/Inflection

Product Launch

Twilio's Voice business, accounting for 12% of 2024 revenue, is experiencing an inflection point of growth primarily driven by AI advancements in speech recognition, generative AI voices, and large language models (LLMs).
The company is strategically evolving its Voice product with modular, AI-driven solutions like Conversation Relay and Conversational Intelligence, which provide features such as call analysis, transcription, and integration with various AI providers.
These software-enabled components, particularly Conversation Relay (list price $0.07 per minute), contribute to Voice being a structurally higher margin channel for Twilio and offer significant upsell opportunities per interaction.
While still in early stages, enterprises are actively testing Voice AI agents for automating high-volume, repetitive inbound calls, with early adoption noted in regulated sectors like healthcare and credit unions.

Dec 3, 2025, 9:15 PM

Transcript

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TWILIO (TWLO)

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