What is Twilio Inc's earnings per share (EPS)?

Twilio Inc (TWLO) reported diluted earnings per share of $0.21 for fiscal year 2025. This represents a 131.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Twilio Inc Financials

TWLO

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Twilio Inc (TWLO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 55/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Twilio Inc has an operating margin of 3.1%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is up from -1.2% the prior year.

Growth

Twilio Inc's revenue grew 13.7% year-over-year to $5.1B, a solid pace of expansion. This earns a growth score of 56/100.

Leverage

Twilio Inc carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.03, Twilio Inc holds $4.03 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 79/100.

Returns

Twilio Inc generates a 0.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is up from -1.4% the prior year.

Altman Z-Score Safe

5.81

Twilio Inc scores 5.81, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($19.8B) relative to total liabilities ($1.9B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

6/9

Twilio Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

29.65x

For every $1 of reported earnings, Twilio Inc generates $29.65 in operating cash flow ($1.0B OCF vs $33.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.1B

YoY+13.7%

5Y CAGR+23.5%

10Y CAGR+40.7%

Twilio Inc generated $5.1B in revenue in fiscal year 2025. This represents an increase of 13.7% from the prior year.

EBITDA

$353.2M

YoY+132.0%

Twilio Inc's EBITDA was $353.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 132.0% from the prior year.

Net Income

$33.8M

YoY+130.9%

Twilio Inc reported $33.8M in net income in fiscal year 2025. This represents an increase of 130.9% from the prior year.

EPS (Diluted)

$0.21

YoY+131.8%

Twilio Inc earned $0.21 per diluted share (EPS) in fiscal year 2025. This represents an increase of 131.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$682.3M

YoY+62.0%

5Y CAGR-6.1%

10Y CAGR+20.1%

Twilio Inc held $682.3M in cash against $992.3M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

152M

YoY-0.7%

5Y CAGR-1.6%

Twilio Inc had 152M shares outstanding in fiscal year 2025. This represents a decrease of 0.7% from the prior year.

Margins & Returns

Gross Margin

48.9%

YoY-2.2pp

5Y CAGR-3.1pp

10Y CAGR-6.5pp

Twilio Inc's gross margin was 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.2 percentage points from the prior year.

Operating Margin

3.1%

YoY+4.3pp

5Y CAGR+31.1pp

10Y CAGR+24.3pp

Twilio Inc's operating margin was 3.1% in fiscal year 2025, reflecting core business profitability. This is up 4.3 percentage points from the prior year.

Net Margin

0.7%

YoY+3.1pp

5Y CAGR+28.5pp

10Y CAGR+21.9pp

Twilio Inc's net profit margin was 0.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.1 percentage points from the prior year.

Return on Equity

0.4%

YoY+1.8pp

5Y CAGR+6.2pp

10Y CAGR+30.9pp

Twilio Inc's ROE was 0.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$1.0B

YoY+1.1%

5Y CAGR+14.0%

10Y CAGR+37.4%

Twilio Inc invested $1.0B in research and development in fiscal year 2025. This represents an increase of 1.1% from the prior year.

Share Buybacks

$868.9M

YoY-62.8%

10Y CAGR+45.2%

Twilio Inc spent $868.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 62.8% from the prior year.

Capital Expenditures

N/A

TWLO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.1B+13.7%	$4.5B+7.3%	$4.2B+8.6%	$3.8B+34.6%	$2.8B+61.3%	$1.8B
Cost of Revenue	$2.6B+18.7%	$2.2B+3.3%	$2.1B+4.8%	$2.0B+38.7%	$1.5B+71.5%	$846.1M
Gross Profit	$2.5B+8.8%	$2.3B+11.5%	$2.0B+12.7%	$1.8B+30.4%	$1.4B+51.9%	$915.7M
R&D Expenses	$1.0B+1.1%	$1.0B+7.0%	$942.8M-12.6%	$1.1B+36.7%	$789.2M+48.8%	$530.5M
SG&A Expenses	$410.7M-8.6%	$449.1M-4.1%	$468.5M-9.5%	$517.4M+9.5%	$472.5M+52.1%	$310.6M
Operating Income	$157.8M+393.8%	-$53.7M+93.9%	-$876.5M+27.3%	-$1.2B-31.6%	-$915.6M-85.8%	-$492.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$21.3M+2.3%	$20.8M+11.1%	$18.7M+49.5%	$12.5M+213.5%	-$11.0M+18.0%	-$13.4M
Net Income	$33.8M+130.9%	-$109.4M+89.2%	-$1.0B+19.2%	-$1.3B-32.2%	-$949.9M-93.5%	-$491.0M
EPS (Diluted)	$0.21+131.8%	$-0.66+88.1%	$-5.54+19.2%	$-6.86-25.9%	$-5.45-62.7%	$-3.35

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$1.4B+5.0%	$1.3B+5.9%	$1.2B+4.8%	$1.2B-1.9%	$1.2B+5.4%	$1.1B+4.7%	$1.1B+3.4%	$1.0B
Cost of Revenue	$703.6M+5.3%	$668.3M+6.8%	$625.7M+5.9%	$590.9M-0.7%	$595.1M+7.2%	$555.0M+5.4%	$526.7M+4.7%	$503.0M
Gross Profit	$662.4M+4.8%	$632.1M+4.9%	$602.7M+3.6%	$581.6M-3.0%	$599.7M+3.6%	$578.6M+4.1%	$555.8M+2.2%	$544.0M
R&D Expenses	$260.1M-0.9%	$262.3M+7.7%	$243.5M-4.2%	$254.3M+4.2%	$244.0M-6.7%	$261.5M+7.7%	$242.8M-6.8%	$260.5M
SG&A Expenses	$108.9M+0.6%	$108.2M+6.6%	$101.5M+10.3%	$92.1M-20.5%	$115.8M+8.8%	$106.5M-6.8%	$114.3M+1.5%	$112.6M
Operating Income	$56.8M+38.7%	$40.9M+10.7%	$37.0M+60.3%	$23.1M+68.2%	$13.7M+380.5%	-$4.9M+74.3%	-$19.0M+56.2%	-$43.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$8.1M+277.2%	-$4.6M-140.9%	$11.2M+70.1%	$6.6M+703.6%	-$1.1M-117.9%	$6.1M+8.2%	$5.6M-44.9%	$10.2M
Net Income	-$45.9M-223.1%	$37.2M+66.1%	$22.4M+12.0%	$20.0M+260.5%	-$12.5M-28.2%	-$9.7M+69.5%	-$31.9M+42.4%	-$55.3M
EPS (Diluted)	N/A	$0.23+64.3%	$0.14+16.7%	$0.12	N/A	$-0.06+68.4%	$-0.19+38.7%	$-0.31

TWLO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.8B-1.0%	$9.9B-15.0%	$11.6B-7.6%	$12.6B-3.3%	$13.0B+37.0%	$9.5B
Current Assets	$3.6B+3.8%	$3.4B-29.7%	$4.9B-1.6%	$5.0B-16.0%	$5.9B+75.9%	$3.4B
Cash & Equivalents	$682.3M+62.0%	$421.3M-35.8%	$655.9M+0.6%	$651.8M-55.9%	$1.5B+58.4%	$933.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$636.7M+8.2%	$588.5M+4.6%	$562.8M+2.8%	$547.5M+41.0%	$388.2M+54.6%	$251.2M
Goodwill	$5.3B+0.9%	$5.2B0.0%	$5.2B-0.8%	$5.3B+0.4%	$5.3B+14.5%	$4.6B
Total Liabilities	$1.9B+1.9%	$1.9B+1.9%	$1.9B-6.4%	$2.0B+1.9%	$2.0B+90.1%	$1.0B
Current Liabilities	$887.0M+8.1%	$820.2M+11.1%	$738.3M-8.6%	$808.2M+14.9%	$703.5M+56.9%	$448.3M
Long-Term Debt	$992.3M+0.2%	$990.6M+0.2%	$989.0M+0.2%	$987.4M+0.1%	$985.9M+226.4%	$302.1M
Total Equity	$7.8B-1.7%	$8.0B-18.3%	$9.7B-7.8%	$10.6B-4.3%	$11.0B+30.5%	$8.5B
Retained Earnings	-$8.3B-10.9%	-$7.5B-48.5%	-$5.1B-50.1%	-$3.4B-59.3%	-$2.1B-81.2%	-$1.2B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$9.8B+0.6%	$9.7B-1.4%	$9.8B+0.3%	$9.8B-0.5%	$9.9B-1.7%	$10.0B-4.5%	$10.5B-6.9%	$11.3B
Current Assets	$3.6B+2.9%	$3.5B-1.5%	$3.5B+1.8%	$3.5B+0.6%	$3.4B-2.8%	$3.5B-10.5%	$4.0B-15.3%	$4.7B
Cash & Equivalents	$682.3M-7.1%	$734.8M-24.2%	$969.2M+107.5%	$467.1M+10.9%	$421.3M-27.9%	$584.0M-22.7%	$755.1M+12.3%	$672.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$636.7M+3.9%	$613.1M+4.3%	$588.0M+1.8%	$577.6M-1.9%	$588.5M+6.8%	$550.9M+2.5%	$537.3M-0.7%	$540.9M
Goodwill	$5.3B+0.9%	$5.2B0.0%	$5.2B0.0%	$5.2B0.0%	$5.2B0.0%	$5.2B0.0%	$5.2B0.0%	$5.2B
Total Liabilities	$1.9B+7.3%	$1.8B+0.7%	$1.8B-0.3%	$1.8B-5.3%	$1.9B+5.8%	$1.8B-1.1%	$1.8B-0.7%	$1.8B
Current Liabilities	$887.0M+19.5%	$742.3M+3.1%	$720.1M-0.8%	$725.9M-11.5%	$820.2M+17.1%	$700.7M-1.5%	$711.5M-0.4%	$714.6M
Long-Term Debt	$992.3M0.0%	$991.9M0.0%	$991.4M0.0%	$991.0M0.0%	$990.6M0.0%	$990.2M0.0%	$989.8M0.0%	$989.4M
Total Equity	$7.8B-0.9%	$7.9B-1.8%	$8.0B+0.5%	$8.0B+0.6%	$8.0B-3.4%	$8.2B-5.2%	$8.7B-8.1%	$9.4B
Retained Earnings	-$8.3B-3.0%	-$8.1B-4.0%	-$7.8B-2.0%	-$7.6B-1.5%	-$7.5B-6.0%	-$7.1B-10.1%	-$6.4B-17.0%	-$5.5B

TWLO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.0B+40.1%	$716.2M+72.7%	$414.8M+263.1%	-$254.4M-337.1%	-$58.2M-278.2%	$32.7M
Capital Expenditures	N/A	N/A	N/A	N/A	$46.0M+78.4%	$25.8M
Free Cash Flow	N/A	N/A	N/A	N/A	-$104.2M-1622.0%	$6.8M
Investing Cash Flow	$80.9M-94.1%	$1.4B+499.7%	$228.6M+137.1%	-$616.5M+75.2%	-$2.5B-194.4%	-$845.9M
Financing Cash Flow	-$833.1M+64.0%	-$2.3B-259.2%	-$643.6M-1530.0%	$45.0M-98.5%	$3.1B+107.3%	$1.5B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$868.9M-62.8%	$2.3B+249.1%	$668.8M	$0	$0	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$271.6M+3.0%	$263.6M-4.9%	$277.1M+45.0%	$191.0M+76.2%	$108.4M-46.9%	$204.3M-4.2%	$213.3M+12.2%	$190.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$140.4M+13.0%	-$161.5M-140.2%	$402.0M+2200.4%	-$19.1M-114.8%	$129.1M-51.7%	$267.4M-65.9%	$784.6M+313.5%	$189.8M
Financing Cash Flow	-$183.4M+47.3%	-$348.0M-97.8%	-$175.9M-39.8%	-$125.8M+69.2%	-$407.8M+36.6%	-$642.8M+28.4%	-$897.8M-147.2%	-$363.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$198.5M-42.8%	$347.2M+76.3%	$197.0M+56.0%	$126.3M-69.9%	$420.1M-34.4%	$640.6M-30.1%	$916.8M+156.9%	$356.9M

TWLO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	48.9%-2.2pp	51.1%+1.9pp	49.2%+1.8pp	47.4%-1.5pp	48.9%-3.0pp	52.0%
Operating Margin	3.1%+4.3pp	-1.2%+19.9pp	-21.1%+10.4pp	-31.5%+0.7pp	-32.2%-4.2pp	-28.0%
Net Margin	0.7%+3.1pp	-2.5%+22.0pp	-24.4%+8.4pp	-32.8%+0.6pp	-33.4%-5.6pp	-27.9%
Return on Equity	0.4%+1.8pp	-1.4%+9.0pp	-10.4%+1.5pp	-11.9%-3.3pp	-8.6%-2.8pp	-5.8%
Return on Assets	0.4%+1.5pp	-1.1%+7.6pp	-8.8%+1.3pp	-10.0%-2.7pp	-7.3%-2.1pp	-5.2%
Current Ratio	4.03-0.2	4.20-2.4	6.64+0.5	6.17-2.3	8.43+0.9	7.52
Debt-to-Equity	0.130.0	0.12+0.0	0.100.0	0.090.0	0.09+0.1	0.04
FCF Margin	N/A	N/A	N/A	N/A	-3.7%-4.1pp	0.4%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	48.5%-0.1pp	48.6%-0.5pp	49.1%-0.5pp	49.6%-0.6pp	50.2%-0.8pp	51.0%-0.3pp	51.3%-0.6pp	52.0%
Operating Margin	4.2%+1.0pp	3.1%+0.1pp	3.0%+1.0pp	2.0%+0.8pp	1.1%+1.6pp	-0.4%+1.3pp	-1.8%+2.4pp	-4.2%
Net Margin	-3.4%-6.2pp	2.9%+1.0pp	1.8%+0.1pp	1.7%+2.8pp	-1.0%-0.2pp	-0.9%+2.1pp	-2.9%+2.4pp	-5.3%
Return on Equity	-0.6%-1.1pp	0.5%+0.2pp	0.3%+0.0pp	0.3%+0.4pp	-0.2%-0.0pp	-0.1%+0.3pp	-0.4%+0.2pp	-0.6%
Return on Assets	-0.5%-0.9pp	0.4%+0.1pp	0.2%+0.0pp	0.2%+0.3pp	-0.1%-0.0pp	-0.1%+0.2pp	-0.3%+0.2pp	-0.5%
Current Ratio	4.03-0.7	4.68-0.2	4.90+0.1	4.78+0.6	4.20-0.9	5.06-0.5	5.57-1.0	6.55
Debt-to-Equity	0.130.0	0.130.0	0.120.0	0.120.0	0.120.0	0.120.0	0.110.0	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Twilio Inc's annual revenue?

Twilio Inc (TWLO) reported $5.1B in total revenue for fiscal year 2025. This represents a 13.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Twilio Inc's revenue growing?

Twilio Inc (TWLO) revenue grew by 13.7% year-over-year, from $4.5B to $5.1B in fiscal year 2025.

Is Twilio Inc profitable?

Yes, Twilio Inc (TWLO) reported a net income of $33.8M in fiscal year 2025, with a net profit margin of 0.7%.

What is Twilio Inc's EBITDA?

Twilio Inc (TWLO) had EBITDA of $353.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Twilio Inc have?

As of fiscal year 2025, Twilio Inc (TWLO) had $682.3M in cash and equivalents against $992.3M in long-term debt.

What is Twilio Inc's gross margin?

Twilio Inc (TWLO) had a gross margin of 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Twilio Inc's operating margin?

Twilio Inc (TWLO) had an operating margin of 3.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Twilio Inc's net profit margin?

Twilio Inc (TWLO) had a net profit margin of 0.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Twilio Inc's return on equity (ROE)?

Twilio Inc (TWLO) has a return on equity of 0.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Twilio Inc's operating cash flow?

Twilio Inc (TWLO) generated $1.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Twilio Inc's total assets?

Twilio Inc (TWLO) had $9.8B in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Twilio Inc spend on research and development?

Twilio Inc (TWLO) invested $1.0B in research and development during fiscal year 2025.

Does Twilio Inc buy back shares?

Yes, Twilio Inc (TWLO) spent $868.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Twilio Inc have outstanding?

Twilio Inc (TWLO) had 152M shares outstanding as of fiscal year 2025.

What is Twilio Inc's current ratio?

Twilio Inc (TWLO) had a current ratio of 4.03 as of fiscal year 2025, which is generally considered healthy.

What is Twilio Inc's debt-to-equity ratio?

Twilio Inc (TWLO) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Twilio Inc's return on assets (ROA)?

Twilio Inc (TWLO) had a return on assets of 0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Twilio Inc's Altman Z-Score?

Twilio Inc (TWLO) has an Altman Z-Score of 5.81, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Twilio Inc's Piotroski F-Score?

Twilio Inc (TWLO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Twilio Inc's earnings high quality?

Twilio Inc (TWLO) has an earnings quality ratio of 29.65x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Twilio Inc?

Twilio Inc (TWLO) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.