Twilio (NYSE: TWLO), a customer engagement platform known for delivering real-time, personalized experiences for top brands, has released its financial results for the second quarter ending June 30, 2024.
“We are operating with heightened rigor and discipline, which is evident from our record revenue and non-GAAP operating income, alongside strong cash generation,” stated Khozema Shipchandler, Twilio’s CEO. “Our combination of leading communication capabilities, rich contextual data, and AI uniquely positions us to deliver smarter, more personalized brand interactions that drive revenue and reduce costs.”
Second Quarter 2024 Financial Highlights
- Total Revenue: $1.08 billion, a 4% increase year-over-year.
- Communications Revenue: $1.01 billion, up 4% year-over-year.
- Segment Revenue: $75.2 million, up 3% year-over-year.
- Total Organic Revenue Growth: 7% year-over-year.
- GAAP Loss from Operations: $19.0 million, a significant improvement from a $141.8 million loss in Q2 2023.
- Non-GAAP Income from Operations: $175.3 million, compared to $120.1 million in Q2 2023.
- GAAP Net Loss per Share: $0.19, compared to $0.91 in Q2 2023.
- Non-GAAP Net Income per Share: $0.87, up from $0.54 in Q2 2023.
- Net Cash from Operating Activities: $213.3 million, with free cash flow of $197.6 million.
Key Metrics
- Active Customer Accounts: Over 316,000 as of June 30, 2024, up from 304,000 a year earlier.
- Dollar-Based Net Expansion Rate: 102%, compared to 103% in Q2 2023.
- Employees: 5,507 as of June 30, 2024.
Share Repurchase Program
Twilio’s Board of Directors authorized share repurchases of up to $1.0 billion in February 2023 and an additional $2.0 billion in March 2024. To date, Twilio has completed over $2.2 billion in repurchases and aims to complete the remaining $0.8 billion by the end of 2024.
Outlook
Twilio has provided guidance for Q3 2024, projecting revenue between $1.085 billion and $1.095 billion, with non-GAAP income from operations between $160 million and $170 million. For the full year 2024, the company anticipates non-GAAP income from operations to range between $650 million and $675 million and expects organic revenue growth of 6% to 7%.
Conference Call Information
Twilio will host a Q&A conference call on August 1, 2024, at 2:00 p.m. (PT) / 5:00 p.m. (ET). Investors and analysts can register for the webcast in advance and access the live webcast, replay, transcript, and supplemental earnings presentation on Twilio’s investor relations website.
Twilio uses its investor relations website and its X (formerly Twitter) feed (@twilio) to disclose material non-public information and comply with Regulation FD.
For more details, visit Twilio’s investor relations site.
