- Second Quarter Revenue of $943.4 million, up 41% Year-Over-Year
- Second Quarter Revenue Dollar-Based Net Expansion Rate of 123%
Twilio (NYSE: TWLO) (LTSE: TWLO), the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, today reported financial results for its second quarter ended June 30, 2022.
“We closed a strong second quarter, delivering $943 million in revenue and 41% year-over-year growth, while also signing our largest Flex deal ever,” said Jeff Lawson, Twilio’s co-founder and CEO. “Based on our results and what we’re currently seeing, we remain confident in our growth trajectory as our customers continue to turn to Twilio’s Customer Engagement Platform to help build direct relationships with their customers. We are closely following the macroeconomic environment and are taking proactive steps that will enable us to remain laser focused on our customers and executing against our top priorities.”
Second Quarter 2022 Financial Highlights
- Revenue of $943.4 million for the second quarter of 2022, up 41% year-over-year, including $34.0 million from Zipwhip. Organic revenue1 grew 33% year-over-year.
- GAAP loss from operations of $311.9 million for the second quarter of 2022, compared with GAAP loss from operations of $202.3 million for the second quarter of 2021.
- Non-GAAP loss from operations of $7.3 million for the second quarter of 2022 compared with non-GAAP income from operations of $4.2 million for the second quarter of 2021.
- GAAP net loss per share attributable to common stockholders, basic and diluted, of $1.77 based on 182.3 million weighted average shares outstanding in the second quarter of 2022, compared with GAAP net loss per share attributable to common stockholders, basic and diluted, of $1.31 based on 173.4 million weighted average shares outstanding in the second quarter of 2021.
- Non-GAAP net loss per share attributable to common stockholders, basic and diluted, of $0.11 based on 182.3 million non-GAAP weighted average shares outstanding in the second quarter of 2022, compared with non-GAAP net loss per share attributable to common stockholders, basic and diluted, of $0.11 based on 173.4 million non-GAAP weighted average shares outstanding in the second quarter of 2021.
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1Organic revenue excludes revenue from Zipwhip and all other acquisitions closed after April 1, 2021, and revenue from 10DLC A2P and related fees imposed by major U.S. carriers on Twilio’s core messaging business. |
Key Metrics
- More than 275,000 Active Customer Accounts as of June 30, 2022, compared to 240,000 Active Customer Accounts as of June 30, 2021.
- Dollar-Based Net Expansion Rate was 123% for the second quarter of 2022, compared to 135% for the second quarter of 2021. Results from acquisitions closed after April 1, 2021, including Zipwhip, do not impact the calculation of this metric in either period.
- 8,510 employees as of June 30, 2022.
New Addition to the Board of Directors
The Company announced that Miyuki Suzuki will be joining Twilio’s Board of Directors. Miyuki brings more than four decades of global technology leadership and board member experience in the B2B and B2C segments, extensive knowledge of the APAC market which is a key growth area for Twilio and expertise across telecommunications, hosting and managed services, networking and collaboration and cyber-security. Miyuki is joining the Twilio Board at a critical time in the company’s growth as it doubles down on software sales growth, operating leverage and continued international expansion.
Outlook
Twilio is initiating guidance for the third quarter ending September 30, 2022.
| 1) Organic revenue growth guidance excludes all revenue from Zipwhip and all other acquisitions that closed after July 1, 2021. | |||
| (2) Includes an estimated $35 million non-cash accrual for the adoption of a new sabbatical program for tenured employees. In the quarters subsequent to the adoption, the impact from this program is not expected to be significant to our results of operations. |
Conference Call Information
Twilio posted prepared remarks on its investor relations website at https://investors.twilio.com, and will host a Q&A conference call today, August 4, 2022, to discuss its second quarter 2022 financial results at 2:00 p.m. (PT) / 5:00 p.m. (ET). Investors and analysts should register for the call in advance by visiting https://conferencingportals.com/event/unKcrkys. A live webcast of the conference call, as well as a replay of the call, will be available on the investor relations website. Following the completion of the call through 11:59 p.m. (ET) on August 11, a replay will be available by dialing (800) 770-2030 (United States) or +1 (647) 362-9199 (non-U.S.) and entering passcode 80378.
Twilio uses its investor relations website, its Twitter feed (@twilio), and the Twitter feed of Twilio’s Chief Executive Officer, Jeff Lawson (@jeffiel), as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
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