Twilio Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Twilio Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

TWILIO INC (TWLO) filed a Annual Report (10-K) with the SEC on February 27, 2024. Twilio Inc. filed its 2023 Form 10-K on February 27, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 101 Spear Street, Suite 500, San Francisco, CA 94105. Twilio Inc. is incorporated in Delaware. The Standard Industrial Classification code for the company is 7372 (Services-Prepackaged Software).

Why It Matters

For investors and stakeholders tracking TWILIO INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Twilio's financial health, operational strategies, and risk factors for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial statements and disclosures within the 10-K are essential for understanding Twilio's revenue streams, profitability, and balance sheet strength, informing investment decisions and competitive analysis.

Risk Assessment

Risk Level: medium — TWILIO INC shows moderate risk based on this filing. The company's business is subject to risks associated with the technology industry, including rapid technological changes, competition, and evolving customer demands, as indicated by its SIC code and the nature of its software services.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Twilio's growth prospects and potential challenges in the competitive cloud communications market.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240227 — Filing Date (FILED AS OF DATE)
• 7372 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 133 — Public Document Count (PUBLIC DOCUMENT COUNT)

Key Players & Entities

• TWILIO INC (company) — FILER
• 101 SPEAR STREET SUITE 500 (company) — BUSINESS ADDRESS
• San Francisco (company) — BUSINESS ADDRESS CITY
• DE (company) — STATE OF INCORPORATION
• 7372 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240227 (date) — FILED AS OF DATE
• 415-390-2337 (company) — BUSINESS PHONE

FAQ

Industry Context

Twilio operates in the cloud communications platform as a service (CPaaS) industry, providing APIs for developers to embed messaging, voice, and video capabilities into applications.

Regulatory Implications

As a publicly traded company, Twilio is subject to SEC regulations and reporting requirements, including the annual filing of Form 10-K.

What Investors Should Do

1. Review Twilio's detailed financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section to understand potential challenges and uncertainties facing the company.
3. Compare key financial metrics with previous years to identify trends and performance changes.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-27: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual 10-K for the fiscal year 2023, following previous filings such as quarterly reports (10-Q) and potentially prior annual reports.

Key Financial Figures

• $0.001 — stered Class A Common Stock, par value $0.001 per share TWLO New York Stock Exchange
• $63.62 — quarter) was $ 11.1 billion based upon $63.62 per share, the closing price of the reg

Filing Documents

• twlo-20231231.htm (10-K) — 2671KB
• twlo-20231231xex46.htm (EX-4.6) — 35KB
• twlo-20231231ex211subsidia.htm (EX-21.1) — 10KB
• twlo-20231231ex231kpmgcons.htm (EX-23.1) — 2KB
• twlo-20231231xex311.htm (EX-31.1) — 10KB
• twlo-20231231xex312.htm (EX-31.2) — 10KB
• twlo-20231231xex321.htm (EX-32.1) — 6KB
• twlo-20231231xex971.htm (EX-97.1) — 30KB
• twlo-20231231_g1.jpg (GRAPHIC) — 67KB
• twlo-20231231_g2.jpg (GRAPHIC) — 391KB
• 0001447669-24-000034.txt (&nbsp;) — 14331KB
• twlo-20231231.xsd (EX-101.SCH) — 76KB
• twlo-20231231_cal.xml (EX-101.CAL) — 132KB
• twlo-20231231_def.xml (EX-101.DEF) — 506KB
• twlo-20231231_lab.xml (EX-101.LAB) — 1106KB
• twlo-20231231_pre.xml (EX-101.PRE) — 795KB
• twlo-20231231_htm.xml (XML) — 2059KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 46 Item 1C. C ybersecurity 4 6 Item 2.

Properties

Properties 48 Item 3.

Legal Proceedings

Legal Proceedings 48 Item 4. Mine Safety Disclosures 49 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 49 Item 6. [Reserved] 50 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 50 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 68 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 69 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 112 Item 9A.

Controls and Procedures

Controls and Procedures 112 Item 9B. Other Information 113 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 113 PART III Item 10. Directors, Executive Officers and Corporate Governance 114 Item 11.

Executive Compensation

Executive Compensation 114 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 114 Item 13. Certain Relationships and Related Transactions, and Director Independence 114 Item 14. Principal Accountant Fees and Services 114 PART IV Item 15. Exhibit and Financial Statement Schedules 114 Item 16. Form 10-K Summary 116 1 Special Note Regarding Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "can," "will," "would," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: the impact of macroeconomic uncertainties and significant market volatility in the global economy on our customers, partners, employees and business; our future financial performance, including expectations regarding our revenue, cost of revenue, gross profit, gross margin and operating expenses, our ability to generate positive cash flow and ability to achieve and sustain profitability on GAAP and non-GAAP bases, the factors affecting our results of operations, and the assumptions underlying such expectations; the benefits and efficiencies we expect to derive from recent workforce reductions a

Business

Item 1. Business Overview We enable businesses of all sizes to revolutionize how they engage with their customers by delivering seamless, trusted and personalized customer experiences at scale. Our leading customer engagement platform comprises communications application programming interfaces ("APIs") that enable developers to embed numerous forms of messaging, voice, and email interactions into their customer-facing applications, as well as software products that target specific engagement needs, including our customer data platform, digital engagement centers, marketing campaigns and advanced account security solutions. This combination of flexible APIs and software solutions helps businesses of all sizes and across numerous industries to benefit from smarter and more streamlined engagement at every step of the customer journey, including reduced customer acquisition costs, lasting loyalty and increased customer value. Our platform, which combines our highly customizable communications APIs with customer data management capabilities, allows businesses to break down data silos and build a comprehensive single source for their customer data that is organized into unique profiles that are easily accessible by all their business teams. Empowered with this information and the insights it enables, businesses using our platform can provide robust, personalized and effective communications to their customers at every stage of their customer relationships. The value proposition of our offerings has become stronger and our products have become more strategic to our customers as more and more businesses have prioritized building more personalized and more differentiated customer engagement experiences through digital channels. In February 2023, we began operating our business in two business units: Twilio Communications ("Communications") and Twilio Data & Applications ("Data & Applications"), which has since been renamed Twilio Segment. Our Communications business con

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View this 10-K filing on SEC EDGAR