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Twilio | 10-Q: Q2 2024 Earnings Report

SEC ·  Aug 2, 2024 04:13

Summary by Moomoo AI

Twilio reported Q2 2024 revenue of $1.08 billion, up 4% year-over-year, with Communications revenue growing 4% to $1.01 billion and Segment revenue increasing 3% to $75.2 million. The company's net loss significantly narrowed to $31.9 million from $166.2 million in Q2 2023. Gross margin improved to 51% from 49% last year, while operating expenses decreased 11% to $574.9 million.The company continued its operational efficiency initiatives, repurchasing 15.2 million shares for $898.6 million during the quarter. Dollar-Based Net Expansion Rate was 102%, reflecting stable customer growth. Active Customer Accounts grew to 316,000, up from 304,000 in the prior year period. The company maintained strong liquidity with $755.1 million in cash and $2.4 billion in marketable securities.Looking ahead, Twilio is targeting break-even non-GAAP income from operations for its Segment business by Q2 2025 and accelerated its timeline to achieve GAAP operating profitability on a consolidated basis to Q4 2025. The company continues to focus on improving operating efficiency while investing in strategic growth areas including AI capabilities and customer engagement platform development.
Twilio reported Q2 2024 revenue of $1.08 billion, up 4% year-over-year, with Communications revenue growing 4% to $1.01 billion and Segment revenue increasing 3% to $75.2 million. The company's net loss significantly narrowed to $31.9 million from $166.2 million in Q2 2023. Gross margin improved to 51% from 49% last year, while operating expenses decreased 11% to $574.9 million.The company continued its operational efficiency initiatives, repurchasing 15.2 million shares for $898.6 million during the quarter. Dollar-Based Net Expansion Rate was 102%, reflecting stable customer growth. Active Customer Accounts grew to 316,000, up from 304,000 in the prior year period. The company maintained strong liquidity with $755.1 million in cash and $2.4 billion in marketable securities.Looking ahead, Twilio is targeting break-even non-GAAP income from operations for its Segment business by Q2 2025 and accelerated its timeline to achieve GAAP operating profitability on a consolidated basis to Q4 2025. The company continues to focus on improving operating efficiency while investing in strategic growth areas including AI capabilities and customer engagement platform development.
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