Slide 1: Q2 2025 Earnings Results
Q2 2025 Earnings Results August 7, 2025 1
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation and the accompanying conference call contain This presentation and the accompanying conference call also contain forward-looking statements within the meaning of the federal securities non-GAAP financial measures. The non-GAAP financial measures, laws, including stat
Slide 3: Financial Overview
€:) twilio Financial Overview
Slide 4: Total Company Results
by strong collections and timing of payments during the quarter. Total Company Results Q2 2025 $1,228M 13% / 13% $623M 50.7% Total Reported/Organic Non-GAAP Gross Non-GAAP Gross Revenue Revenue Growth Y/Y Profit Margin $221M $263M 108% 349,000+ Non-GAAP Income Free Cash Dollar-Based Net Active Custom
Slide 5: Communications Results
Communications Results Q2 2025 $1,153M 14% / 14% $567M 49.2% Communications Communications Communications Reported/Organic Non-GAAP Gross Non-GAAP Gross Communications Revenue Growth Revenue Profit Margin Y/Y $281M 24.3% 109% 342,000+ Communications Communications Communications Communications Non-GA
Slide 6: Segment Results
Segment Results Q2 2025 $75M 0% $56M 74.3% Segment Segment Segment Revenue Non-GAAP Gross Non-GAAP Gross Segment Revenue Growth Y/Y Profit Margin $6M 8.0% 95% 7,000+ Segment Segment Segment Segment Non-GAAP Income Non-GAAP Dollar-Based Net Active Customer from Operations Operating Margin Expansion Ra
Slide 7: Q3 2025 & Full Year 2025 Guidance
Q3 2025 & Full Year 2025 Guidance Q3 2025 Guidance: ● Total reported revenue: $1.245 billion to $1.255 billion, up 10% to 11% year-over-year ● Organic revenue growth: 8% to 9% year-over-year ● Non-GAAP income from operations: $205 million to $215 million ● Non-GAAP diluted earnings per share1: $1.01
Slide 8: Quarterly Revenue
Quarterly Revenue Q2’25 Total 13% Revenue Growth Y/Y Q2’25 14% Communications Revenue Growth Y/Y Q2’25 Segment 0% Revenue Growth Y/Y Note: Numbers are rounded to the nearest million (other than percentages). 8
Slide 9: Quarterly Organic Revenue Growth
Quarterly Organic Revenue Growth Q2’25 Organic 13% Revenue Growth Y/Y Q2’25 14% Communications Organic Revenue Growth Y/Y Note: Organic revenue growth is a non-GAAP financial measure. See Appendix for non-GAAP definitions and reconciliations. 9
Slide 10: Dollar-Based Net Expansion Rate
Dollar-Based Net Expansion Rate Note: See Appendix for our definition of Dollar-Based Net Expansion Rate. 10
Slide 11: Messaging Revenue Mix %
Messaging Revenue Mix % Note: Messaging Revenue Mix % refers to Messaging revenue as a percentage of total revenue. 11
Slide 12: Non-GAAP Gross Profit
Non-GAAP Gross Profit 51% Q2’25 Non-GAAP Gross Margin Q2’25 Non-GAAP 8% Gross Profit Growth Y/Y Note: Non-GAAP gross profit and non-GAAP gross margin are non-GAAP financial measures. See Appendix for non-GAAP definitions and reconciliations. 12
Slide 13: Non-GAAP Income from Operations
Non-GAAP Income from Operations 18% Q2’25 Non-GAAP Operating Margin Q2’25 Non-GAAP 26% Income from Operations Growth Y/Y Note: Non-GAAP income from operations and non-GAAP operating margin are non-GAAP financial measures. See Appendix for non-GAAP definitions and reconciliations. 13
Slide 14: GAAP Income from Operations
GAAP Income from Operations 3% Q2’25 GAAP Operating Margin 14
Slide 15: Stock-Based Compensation Expense
Stock-Based Compensation Expense Q2’25 12% Stock-Based Compensation as a % of Revenue 15
Slide 16: Free Cash Flow
Free Cash Flow 21% Q2’25 Free Cash Flow Margin 33% Q2’25 Free Cash Flow Growth Y/Y Note: Free cash flow and free cash flow margin are non-GAAP financial measures. See Appendix for non-GAAP definitions and reconciliations. 16
Slide 17: Q2 2025: Representative Customer Wins
Q2 2025: Representative Customer Wins 17
Slide 18: Top Customer Wins from the Quarter
Top Customer Wins from the Quarter Communications: ● Twilio signed a ConversationRelay deal with a leading fintech company. They will leverage ConversationRelay to automate their three most common customer care requests: credit limit inquiries, card tracking, and installment payments. Within two week
Slide 19: Top Customer Wins from the Quarter (cont.)
Top Customer Wins from the Quarter (cont.) Communications (continued): ● Twilio signed a seven figure expansion with a sales and marketing platform to power communications for their own AI features using Twilio's messaging, voice APIs, and Conversational Intelligence. ● Henry Schein One, a dental sof
Slide 20: Top Customer Wins from the Quarter (cont.)
Top Customer Wins from the Quarter (cont.) Segment: ● JustFab, an online fashion retailer, signed a new multi year deal with Segment to fully leverage the power of its CDP, with goals that include improving ad performance, optimizing revenue, driving app downloads, and more. ● Twilio signed a new Se
Slide 21: Thank You
THANK YOU 21
Slide 22: Appendix
€:) twilio Appendix
Slide 23: Forward-Looking Statements
Forward-Looking Statements This presentation and the accompanying conference call contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can
Slide 24: Operating Metrics
Operating Metrics We review a number of operational and financial metrics, including Active Customer Accounts and Dollar-Based Net Expansion Rate, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. These met
Slide 25: Operating Metrics
Operating Metrics Dollar-Based Net Expansion Rate. Our Dollar-Based Net Expansion Rate compares the total revenue from all Active Customer Accounts and customer accounts from Zipwhip in a quarter to the same quarter in the prior year. To calculate the Dollar-Based Net Expansion Rate, we first identif
Slide 26: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to financial information presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this presentation and the accompanying conference call include certain non-GAAP financial measures, including non-GAAP gross profit, non-GAAP gross margi
Slide 27: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non‑GAAP Net Income Attributable to Common Stockholders and Non‑GAAP Net Income Per Share Attributable to Common Stockholders. For the periods presented, we define non-GAAP net income attributable to common stockholders and non‑GAAP net income per share attributable to com
Slide 28: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation () (Dollars in thousands, unaudited) Three Months Ended June 30, September 30, December 31, March 31, 2024 2024 2024 2025 Non-GAAP gross profit and Non-GAAP gross margin Revenue 1,082,502 $ 1,133,649 $ 1,194,835 $ 1,172,463 $ GAAP gross profit 555,845 $ 578
Slide 29: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation (0) s U Three Months Ended June 30, September 30, December 31, March 31, June 30, 2024 2024 2024 2025 2025 Non-GAAP income from operations and Non-GAAP operating margin Revenue 1,082,502 1,133,649 1,194,835 $ 1,172,463 1,228,425 GAAP gross profit 555,845 57
Slide 30: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation () (Dollars in thousands, unaudited) Three Months Ended June 30, September 30, December 31, March 31, 2024 2024 2024 25, Organic revenue Total revenue 1,082,502 $ A2P revenue Organic revenue Revenue growth Organic revenue growth * Q2'23 organic revenue, as
Slide 31: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation 3) (Dollars in thousands, unaudited) Three Months Ended June 30, 2024 Communications organic revenue Communications revenue 1,007,. Cy A2P revenue (6,161) Communications organic revenue 1,007,302 $ 1,146,794 Communications revenue growth Communications orga
Slide 32: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation (Dollars in thousands, unaudited) Free cash flow and free cash flow margin Net cash provided by operating activities 213,343 Net cash provided by operating activities growth (Y/Y) Operating cash flow margin 19.7% Non-GAAP adjustments: Capitalized software d
Slide 33: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation lars in th s, unaudite Three Months Ended June 30, 2025 Communications Non-GAAP gross profit and Non-GAAP gross margin Revenue 1,152,955 Communications GAAP gross profit 548,353 Communications GAAP gross margin 47.6% Non-GAAP adjustments: Stock-based compen
Slide 34: Operating Results by Segment
Operating Results by Segment (Dollars in thousands, unaudited) Three Months Ended June 30, 2025 Communications Segment Operating Results by Segment Revenue $ 1,152,955 $ 75,470 1,228,425 Cost of revenue attributable to segments 586,146 19,377 605,523 Operating expenses attributable to segments 286,1