Twilio Announces Voluntary Delisting From Long-Term Stock Exchange

Rhea-AI Summary

Twilio (NYSE: TWLO) has announced its decision to voluntarily delist its Class A common stock from the Long-Term Stock Exchange (LTSE) effective December 29, 2022. This move comes as part of the company's strategy to focus on non-GAAP operating profitability starting in 2023, prompting a review of discretionary expenses. The costs associated with the dual listing were deemed unjustifiable. Post-delisting, Twilio will continue to trade solely on the New York Stock Exchange.

Positive

• Transitioning to single listing on NYSE may reduce operational costs.
• Focus on non-GAAP operating profitability beginning in 2023.

Negative

• Delisting from LTSE may signal reduced market visibility.

SAN FRANCISCO--(BUSINESS WIRE)-- Twilio (NYSE: TWLO) (LTSE: TWLO), the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, today announced that it has applied to voluntarily delist its Class A common stock from the Long-Term Stock Exchange (“LTSE”). Accordingly, it is anticipated that, effective at the close of markets on December 29, 2022, Twilio’s shares of Class A common stock will no longer be dual-listed on the LTSE but will continue to trade and be listed on the New York Stock Exchange (“NYSE”) under the symbol “TWLO”.

As part of Twilio’s commitment to non-GAAP operating profitability beginning in 2023, the Company has evaluated discretionary expenses and determined that the costs associated with maintaining a dual listing were no longer justified.

About Twilio Inc.

Today’s leading companies trust Twilio’s Customer Engagement Platform (CEP) to build direct, personalized relationships with their customers everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of the customer journey, from sales to marketing to growth, customer service and many more engagement use cases in a flexible, programmatic way. Across 180 countries, millions of developers and hundreds of thousands of businesses use Twilio to create magical experiences for their customers. For more information about Twilio (NYSE: TWLO) (LTSE: TWLO) visit www.twilio.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “can,” “will,” “would,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this press release include, but are not limited to, statements about the delisting of Twilio’s shares of Class A common stock from the LTSE and the timing thereof. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Twilio’s most recent filings with the Securities and Exchange Commission, including its most recent report on Form 10-K, subsequent reports on Form 10-Q, and any amendments to any of the foregoing. Forward-looking statements represent Twilio’s management’s beliefs and assumptions only as of the date such statements are made. Twilio undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events.

Source: Twilio Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221209005116/en/

Investor Contact:

Bryan Vaniman

ir@Twilio.com

or

Media Contact:

Caitlin Epstein

press@Twilio.com

Source: Twilio Inc.

FAQ

What does Twilio's delisting from LTSE mean for investors?

Twilio's delisting from LTSE means the company will solely trade on the NYSE, potentially affecting market visibility and liquidity.

When will Twilio's shares stop trading on LTSE?

Twilio's Class A common stock will stop trading on the LTSE at the close of markets on December 29, 2022.

Why did Twilio decide to delist from LTSE?

Twilio decided to delist from LTSE to focus on non-GAAP operating profitability and reduce unnecessary costs related to maintaining a dual listing.