Twilio Announces Third Quarter 2017 Results

SAN FRANCISCO--(BUSINESS WIRE)-- Twilio Inc. (NYSE: TWLO), the leading Cloud Communications Platform company, today reported financial results for its third quarter ended September 30, 2017.

“We hit a number of exciting milestones in Q3, including our first $100 million revenue quarter, our first enterprise license agreement for our higher level software products, and the launch of Twilio Studio,” said Jeff Lawson, Twilio’s Co-Founder and Chief Executive Officer. “With Twilio Studio, the visual builder for Twilio, we can accelerate our customers’ roadmaps and help an even larger set of users build on our platform. We are excited by the size, scale and diversity of what new and existing customers are creating with Twilio.”

Third Quarter 2017 Financial Highlights

- Total revenue of $100.5 million for the third quarter of 2017, up 41% from the third quarter of 2016 and 5% sequentially from the second quarter of 2017.
- Base revenue of $92.0 million for the third quarter of 2017, up 43% from the third quarter of 2016 and 5% sequentially from the second quarter of 2017.
- GAAP loss from operations of $24.0 million for the third quarter of 2017, compared with GAAP loss from operations of $11.3 million for the third quarter of 2016. Non-GAAP loss from operations of $7.7 million for the third quarter of 2017, compared with non-GAAP loss from operations of $3.4 million for the third quarter of 2016.
- GAAP net loss per share attributable to common stockholders of $0.25 based on 92.2 million weighted average shares outstanding in the third quarter of 2017, compared with GAAP net loss per share attributable to common stockholders of $0.13 based on 83.9 million weighted average shares outstanding in the third quarter of 2016.
- Non-GAAP net loss per share attributable to common stockholders of $0.08 based on 92.2 million weighted average shares outstanding in the third quarter of 2017, compared with non-GAAP net loss per share attributable to common stockholders of $0.04 based on 83.9 million weighted average shares outstanding in the third quarter of 2016.

Key Metrics and Recent Business Highlights

- 46,489 Active Customer Accounts as of September 30, 2017, compared to 34,457 Active Customer Accounts as of September 30, 2016.
- Dollar-Based Net Expansion Rate was 122% for the third quarter of 2017, compared to 155% for the third quarter of 2016.
- Gathered developers, executives, and partners from companies around the world to celebrate what they are building on our platform at our second annual Signal London event.
- Advanced the Twilio Engagement Cloud through the launch of Twilio Studio in preview. Twilio Studio is a drag and drop visual editor designed to both expand the universe of people that can engage with our platform and accelerate their development time.
- Announced our commitment to meet the new GDPR (General Data Protection Regulation) requirements coming from the EU, using this as an opportunity to raise the bar for data protection worldwide for all of our customers.
- Expanded the reach of our Super Network by announcing the availability of Twilio phone numbers in more than 100 countries.

About Twilio

Twilio's mission is to fuel the future of communications. Developers and businesses use Twilio to make communications relevant and contextual by embedding messaging, voice, and video capabilities directly into their software applications. Founded in 2008, Twilio has over 800 employees, with headquarters in San Francisco and other offices in Bogotá, Dublin, Hong Kong, London, Madrid, Malmö, Mountain View, Munich, New York City, Singapore and Tallinn.