Twilio Inc. · NYSE:TWLO
Twilio — Q3 2025 Earnings Presentation
29 slides from Twilio's earnings presentation, Oct 30, 2025
Slide 1: Q3 2025 Earnings Results
Q3 2025 Earnings Results October 30, 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: Company Results
by strong collections and timing of payments during the quarter. Company Results Q3 2025 $1,300M 15% / 13% $652M 50.1% Reported Reported / Organic Non-GAAP Gross Non-GAAP Gross Revenue Revenue Growth Y/Y Profit Margin $235M $248M 109% 392,000+ Non-GAAP Income Free Cash Dollar-Based Net Active Custome
Slide 5: Q4 2025 & Full Year 2025 Guidance
Q4 2025 & Full Year 2025 Guidance Q4 2025 Guidance: ● Reported revenue: $1.310 billion to $1.320 billion, up 9.5% to 10.5% year-over-year ● Organic revenue growth: 8% to 9% year-over-year ● Non-GAAP income from operations: $230 million to $240 million ● Non-GAAP diluted earnings per share1: $1.17 -
Slide 6: Quarterly Revenue
Quarterly Revenue Q3’25 Reported 15% Revenue Growth Y/Y Note: Numbers are rounded to the nearest million (other than percentages). 6
Slide 7: Quarterly Organic Revenue Growth
Quarterly Organic Revenue Growth Q3’25 Organic 13% Revenue Growth Y/Y Note: Organic revenue growth is a non-GAAP financial measure. See Appendix for non-GAAP definitions and reconciliations. 7
Slide 8: Dollar-Based Net Expansion Rate
Dollar-Based Net Expansion Rate Note: See Appendix for our definition of Dollar-Based Net Expansion Rate. 8
Slide 9: Messaging Revenue Mix %
Messaging Revenue Mix % Note: Messaging Revenue Mix % refers to Messaging revenue as a percentage of revenue. 9
Slide 10: Non-GAAP Gross Profit
Non-GAAP Gross Profit 50% Q3’25 Non-GAAP Gross Margin Q3’25 Non-GAAP 9% 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. 10
Slide 11: Non-GAAP Income from Operations
Non-GAAP Income from Operations 18% Q3’25 Non-GAAP Operating Margin Q3’25 Non-GAAP 29% 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. 11
Slide 12: GAAP Income from Operations
GAAP Income from Operations 3% Q3’25 GAAP Operating Margin 12
Slide 13: Stock-Based Compensation Expense
Stock-Based Compensation Expense Q3’25 12% Stock-Based Compensation as a % of Revenue 13
Slide 14: Free Cash Flow
Free Cash Flow 19% Q3’25 Free Cash Flow Margin 31% Q3’25 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. 14
Slide 15: Q3 2025: Representative Customer Wins
Q3 2025: Representative Customer Wins 15
Slide 16: Top Customer Wins from the Quarter
Top Customer Wins from the Quarter ● Twilio signed a nine-figure renewal deal spanning Messaging, Voice, and Software Add-ons with a leading cloud provider, the largest deal in our company’s history. ● Genspark AI, an AI Agent company, signed a Voice deal and launched within a week to power their aut
Slide 17: Top Customer Wins from the Quarter (cont.)
Top Customer Wins from the Quarter (cont.) ● Twilio signed a new seven figure deal with a large bank in Argentina to implement Twilio's WhatsApp API to conduct their marketing messages and customer conversations. With Twilio, they can leverage real-time analytics, delivery metrics, and onboarding sup
Slide 18: Top Customer Wins from the Quarter (cont.)
Top Customer Wins from the Quarter (cont.) ● Twilio signed a new Flex deal with an electric vehicle manufacturer. Flex will displace their existing solution, allowing the customer to re-imagine their customer and agent experience. ● A leading athletic apparel company signed an Email expansion deal w
Slide 19: Thank You
THANK YOU 19
Slide 20: Appendix
€:) twilio Appendix
Slide 21: 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 22: 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 23: 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 24: 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 25: 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 26: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation (Dollars in thousands, unaudited) Non-GAAP gross profit and Non-GAAP gross margin Revenue GAAP gross profit GAAP gross profit growth (Y/Y) |GAAP gross margin Non-GAAP adjustments: Stock-based compensation Amortization of acquired intangibles Payroll taxes r
Slide 27: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconc in thousands, unaudited) Three Months Ended September 30, December 31, March 31, June 30, September 30, 2024 2024 2025 2025 2025 Non-GAAP income from operations and Non-GAAP operating margin Revenue 1,133,649 1,194,835 $ 1,172,463 1,228,425 1,300,402 GAAP gross pro
Slide 28: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation 3) (Dollars in thousands, unaudited) Three Months Ended September 30, December 31, June 30, September 30, | 2024 2025 Organic revenue Total revenue 1,133, - 6 1,228,425 $ |A2P revenue (6,161) Organic revenue Revenue growth Organic revenue growth * Q3'23 org
Slide 29: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation (Dollars in thousands, unaudited) Three Months Ended September 30, December 31, March 31, June 30, September 30, 2024 Free cash flow and free cash flow margin Net cash provided by operating activities 204,329 Net cash provided by operating activities growth