TWILIO INC
TWLO · Services-Prepackaged Software · 151.8M shares · +9%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$7M (gross $669M, SBC $676M)
Reference price $235.88 · est. market cap ~$35.8B — last insider sale, 2026-06-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62CPaaS vendor with a low gross margin near GAAP breakeven, but strong liquidity and improving cash flow.
Strengths
- Strong liquidity, low leverage — current ratio 4.03 (87th), D/E 0.13
- Positive operating cash flow — OCF margin 19.8%
- Growth — revenue +13.7%
Risks
- Low gross margin — 48.9% (13th) — pass-through messaging costs
- Near-breakeven GAAP — net margin 0.7%, net income -130.9% (11th)
- Competitive CPaaS market — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +9%/yr over 4y (dilution, book value/share -50%)
- Strong balance sheetStrong balance sheet — $2.5B cash & investments
- Notable holderHeld by 6 notable fund(s): FMR LLC, STATE STREET CORP, CITADEL ADVISORS LLC +3 more (as of 2026-03-31)
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Insider sellingInsider selling — 41 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$345M, last 6mo) Form 4 ↗
- China exposure• compliance with applicable laws and regulations, including export controls, economic sanctions, customs and anti-corruption regulations; • standards imposed by private entities and inbox service p
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
48.9%
Operating margin
3.1%
Net margin
0.7%
Return on equity
0.4%
Return on assets
0.3%
ROIC
1.4%
Revenue growth (QoQ)
3.0%
Debt / equity
0.1×
Net debt / EBITDA
-4.2×
Current ratio
4.0×
EBITDA
$353M
Tangible book value
$2.4B
Cash & investments
$2.5B
Stock comp / revenue
11.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | ROTTENBERG ERIKA | Gift | 398 | — |
| 2026-06-15 | Robinson Douglas A. | Grant | 361 | — |
| 2026-06-15 | Suzuki Miyuki | Grant | 396 | — |
| 2026-06-15 | PATRICK DEVAL L | Grant | 391 | — |
| 2026-06-15 | IMMELT JEFFREY R | Grant | 408 | — |
| 2026-06-15 | ROTTENBERG ERIKA | Grant | 398 | — |
| 2026-06-15 | Epstein Jeff | Grant | 540 | — |
| 2026-06-15 | Dubinsky Donna | Grant | 391 | — |
| 2026-06-15 | Dubinsky Donna | Gift | 391 | — |
| 2026-06-15 | Bell Charles H | Grant | 399 | — |
| 2026-06-15 | Stafman Andrew | Grant | 399 | — |
| 2026-06-15 | ROTTENBERG ERIKA | Gift | 398 | — |
| 2026-06-15 | Dubinsky Donna | Gift | 391 | — |
| 2026-06-04 | Shipchandler Khozema | Option exercise | 44K | $117.94 |
| 2026-06-04 | Shipchandler Khozema | Sell | 44K | $235.88 |
| 2026-06-01 | ROTTENBERG ERIKA | Sell | 2.0K | $199.01 |
| 2026-05-27 | Stafman Andrew | Sell | 1.0M | $184.14 |
| 2026-05-26 | Shipchandler Khozema | Sell | 2.7K | $182.75 |
| 2026-05-26 | Shipchandler Khozema | Option exercise | 32K | $76.63 |
| 2026-05-26 | Shipchandler Khozema | Sell | 927 | $180.70 |
| 2026-05-26 | Shipchandler Khozema | Sell | 2.1K | $181.96 |
| 2026-05-26 | Shipchandler Khozema | Sell | 4.0K | $184.55 |
| 2026-05-26 | Shipchandler Khozema | Sell | 4.5K | $185.15 |
| 2026-05-26 | Shipchandler Khozema | Sell | 4.7K | $186.55 |
| 2026-05-26 | Shipchandler Khozema | Sell | 8.8K | $187.19 |
| 2026-05-26 | Shipchandler Khozema | Sell | 4.5K | $188.00 |
| 2026-05-19 | Viggiano Aidan | Sell | 1.8K | $200.00 |
| 2026-05-15 | Viggiano Aidan | Sell | 476 | $196.76 |
| 2026-05-15 | Viggiano Aidan | Sell | 900 | $197.80 |
| 2026-05-12 | Stafman Andrew | Sell | 675K | $193.54 |
| 2026-05-04 | ROTTENBERG ERIKA | Sell | 1.5K | $185.32 |
| 2026-04-21 | ROTTENBERG ERIKA | Sell | 1.6K | $149.00 |
| 2026-04-21 | ROTTENBERG ERIKA | Sell | 215 | $149.18 |
| 2026-04-06 | Shipchandler Khozema | Sell | 2.8K | $131.93 |
| 2026-04-06 | Shipchandler Khozema | Sell | 5.3K | $133.05 |
| 2026-04-06 | Shipchandler Khozema | Sell | 5.5K | $133.83 |
| 2026-04-06 | Shipchandler Khozema | Sell | 2.1K | $135.02 |
| 2026-04-02 | Viggiano Aidan | Sell | 4.3K | $127.02 |
| 2026-04-02 | Viggiano Aidan | Sell | 5.0K | $127.93 |
| 2026-03-31 | Shipchandler Khozema | Sell | 1.9K | $123.92 |
| 2026-03-31 | Viggiano Aidan | Sell | 5.7K | $122.45 |
| 2026-03-31 | Viggiano Aidan | Sell | 1.9K | $123.30 |
| 2026-03-31 | Viggiano Aidan | Sell | 501 | $124.11 |
| 2026-03-31 | Viggiano Aidan | Sell | 100 | $125.05 |
| 2026-03-31 | Shipchandler Khozema | Sell | 5.9K | $122.35 |
| 2026-03-31 | Shipchandler Khozema | Sell | 4.8K | $122.90 |
| 2026-03-31 | Shipchandler Khozema | Sell | 100 | $125.06 |
| 2026-03-24 | Robinson Douglas A. | Grant | 3.5K | — |
| 2026-03-15 | Bell Charles H | Grant | 688 | — |
| 2026-03-15 | Suzuki Miyuki | Grant | 682 | — |
| 2026-03-15 | Dubinsky Donna | Grant | 673 | — |
| 2026-03-15 | Dubinsky Donna | Gift | 673 | — |
| 2026-03-15 | Dubinsky Donna | Gift | 673 | — |
| 2026-03-15 | ROTTENBERG ERIKA | Grant | 686 | — |
| 2026-03-15 | ROTTENBERG ERIKA | Gift | 686 | — |
| 2026-03-15 | ROTTENBERG ERIKA | Gift | 686 | — |
| 2026-03-15 | IMMELT JEFFREY R | Grant | 703 | — |
| 2026-03-15 | Epstein Jeff | Grant | 951 | — |
| 2026-03-15 | Stafman Andrew | Grant | 688 | — |
| 2026-03-15 | PATRICK DEVAL L | Grant | 673 | — |
| 2026-03-02 | Viggiano Aidan | Sell | 806 | $125.00 |
| 2026-02-21 | Viggiano Aidan | Grant | 38K | — |
| 2026-02-21 | Shipchandler Khozema | Grant | 70K | — |
| 2026-02-17 | Viggiano Aidan | Sell | 823 | $110.57 |
| 2026-02-17 | Viggiano Aidan | Sell | 200 | $111.01 |
| 2026-01-06 | Shipchandler Khozema | Sell | 2.2K | $133.18 |
| 2026-01-06 | Shipchandler Khozema | Sell | 11K | $134.50 |
| 2026-01-06 | Shipchandler Khozema | Sell | 32 | $134.86 |
| 2026-01-05 | Viggiano Aidan | Sell | 7.2K | $135.97 |
| 2025-12-31 | Viggiano Aidan | Sell | 8.1K | $143.38 |
| 2025-12-31 | Shipchandler Khozema | Sell | 13K | $143.37 |
| 2025-12-15 | Bell Charles H | Grant | 641 | — |
| 2025-12-15 | Suzuki Miyuki | Grant | 635 | — |
| 2025-12-15 | Dubinsky Donna | Grant | 627 | — |
| 2025-12-15 | Dubinsky Donna | Gift | 627 | — |
| 2025-12-15 | Dubinsky Donna | Gift | 627 | — |
| 2025-12-15 | ROTTENBERG ERIKA | Grant | 639 | — |
| 2025-12-15 | ROTTENBERG ERIKA | Gift | 639 | — |
| 2025-12-15 | ROTTENBERG ERIKA | Gift | 639 | — |
| 2025-12-15 | IMMELT JEFFREY R | Grant | 655 | — |
| 2025-12-15 | Epstein Jeff | Grant | 885 | — |
| 2025-12-15 | Stafman Andrew | Grant | 641 | — |
| 2025-12-15 | PATRICK DEVAL L | Grant | 627 | — |
| 2025-12-02 | Stafman Andrew | Sell | 1.0M | $129.00 |
| 2025-11-19 | Viggiano Aidan | Sell | 546 | $120.70 |
| 2025-11-17 | Viggiano Aidan | Sell | 704 | $122.64 |
| 2025-11-17 | Viggiano Aidan | Sell | 740 | $123.76 |
| 2025-11-17 | Viggiano Aidan | Sell | 70 | $124.53 |
| 2025-11-13 | Dubinsky Donna | Gift | 4.1K | — |
| 2025-10-09 | Viggiano Aidan | Sell | 8.0K | $115.00 |
| 2025-10-03 | Shipchandler Khozema | Sell | 9.5K | $104.37 |
| 2025-10-03 | Shipchandler Khozema | Sell | 3.5K | $103.30 |
| 2025-09-30 | Shipchandler Khozema | Sell | 1.8K | $99.26 |
| 2025-09-30 | Shipchandler Khozema | Sell | 5.4K | $100.44 |
| 2025-09-30 | Shipchandler Khozema | Sell | 6.5K | $101.07 |
| 2025-09-30 | Viggiano Aidan | Sell | 1.1K | $99.18 |
| 2025-09-30 | Viggiano Aidan | Sell | 3.3K | $100.45 |
| 2025-09-30 | Viggiano Aidan | Sell | 4.0K | $101.07 |
| 2025-09-15 | Suzuki Miyuki | Grant | 773 | — |
| 2025-09-15 | ROTTENBERG ERIKA | Grant | 778 | — |
| 2025-09-15 | ROTTENBERG ERIKA | Gift | 778 | — |
| 2025-09-15 | ROTTENBERG ERIKA | Gift | 778 | — |
| 2025-09-15 | PATRICK DEVAL L | Grant | 763 | — |
| 2025-09-15 | IMMELT JEFFREY R | Grant | 797 | — |
| 2025-09-15 | Epstein Jeff | Grant | 1.1K | — |
| 2025-09-15 | Dubinsky Donna | Grant | 763 | — |
| 2025-09-15 | Dubinsky Donna | Gift | 763 | — |
| 2025-09-15 | Dubinsky Donna | Gift | 763 | — |
| 2025-09-15 | Bell Charles H | Grant | 780 | — |
| 2025-09-15 | Stafman Andrew | Grant | 780 | — |
| 2025-08-15 | Viggiano Aidan | Sell | 501 | $104.96 |
| 2025-08-15 | Viggiano Aidan | Sell | 1.1K | $106.17 |
| 2025-08-15 | Viggiano Aidan | Sell | 206 | $107.09 |
| 2025-07-03 | Viggiano Aidan | Sell | 5.6K | $116.70 |
| 2025-07-03 | Viggiano Aidan | Sell | 2.6K | $117.78 |
| 2025-07-03 | Viggiano Aidan | Sell | 53 | $118.35 |
| 2025-07-03 | Shipchandler Khozema | Sell | 9.0K | $116.69 |
| 2025-07-03 | Shipchandler Khozema | Sell | 4.6K | $117.76 |
| 2025-07-03 | Shipchandler Khozema | Sell | 34 | $118.33 |
| 2025-06-30 | Viggiano Aidan | Sell | 8.0K | $124.33 |
| 2025-06-30 | Shipchandler Khozema | Sell | 13K | $124.51 |
| 2025-06-30 | Shipchandler Khozema | Sell | 3.2K | $124.25 |
| 2025-06-30 | Shipchandler Khozema | Sell | 3.8K | $124.84 |
| 2025-06-12 | Suzuki Miyuki | Tax withheld | 661 | $118.19 |
| 2025-06-09 | Suzuki Miyuki | Grant | 699 | — |
| 2025-06-09 | ROTTENBERG ERIKA | Grant | 704 | — |
| 2025-06-09 | ROTTENBERG ERIKA | Gift | 704 | — |
| 2025-06-09 | ROTTENBERG ERIKA | Gift | 704 | — |
| 2025-06-09 | PATRICK DEVAL L | Grant | 691 | — |
| 2025-06-09 | IMMELT JEFFREY R | Grant | 722 | — |
| 2025-06-09 | Epstein Jeff | Grant | 963 | — |
| 2025-06-09 | Dubinsky Donna | Grant | 691 | — |
| 2025-06-09 | Dubinsky Donna | Gift | 691 | — |
| 2025-06-09 | Dubinsky Donna | Gift | 691 | — |
| 2025-06-09 | Bell Charles H | Grant | 706 | — |
| 2025-06-09 | Stafman Andrew | Grant | 706 | — |
| 2025-06-02 | ROTTENBERG ERIKA | Sell | 4.1K | $120.03 |
| 2025-05-20 | Viggiano Aidan | Sell | 2.2K | $115.86 |
| 2025-05-15 | Viggiano Aidan | Sell | 1.9K | $112.75 |
| 2025-05-15 | Viggiano Aidan | Sell | 1 | $113.26 |
| 2025-04-03 | Shipchandler Khozema | Sell | 7.0K | $90.47 |
| 2025-04-03 | Shipchandler Khozema | Sell | 2.3K | $91.56 |
| 2025-04-03 | Shipchandler Khozema | Sell | 2.4K | $92.38 |
| 2025-04-03 | Shipchandler Khozema | Sell | 2.0K | $93.61 |
| 2025-04-03 | Shipchandler Khozema | Sell | 800 | $94.40 |
| 2025-04-03 | Viggiano Aidan | Sell | 4.1K | $90.48 |
| 2025-04-03 | Viggiano Aidan | Sell | 1.6K | $91.54 |
| 2025-04-03 | Viggiano Aidan | Sell | 1.3K | $92.43 |
| 2025-04-03 | Viggiano Aidan | Sell | 1.2K | $93.58 |
| 2025-04-03 | Viggiano Aidan | Sell | 500 | $94.40 |
| 2025-03-31 | Viggiano Aidan | Sell | 2.9K | $94.98 |
| 2025-03-31 | Viggiano Aidan | Sell | 1.5K | $96.03 |
| 2025-03-31 | Viggiano Aidan | Sell | 3.1K | $96.63 |
| 2025-03-31 | Shipchandler Khozema | Sell | 3.7K | $94.91 |
| 2025-03-31 | Shipchandler Khozema | Sell | 2.7K | $95.72 |
| 2025-03-31 | Shipchandler Khozema | Sell | 5.6K | $96.60 |
| 2025-03-15 | Suzuki Miyuki | Grant | 626 | — |
| 2025-03-15 | ROTTENBERG ERIKA | Grant | 630 | — |
| 2025-03-15 | ROTTENBERG ERIKA | Gift | 630 | — |
| 2025-03-15 | ROTTENBERG ERIKA | Gift | 630 | — |
| 2025-03-15 | PATRICK DEVAL L | Grant | 618 | — |
| 2025-03-15 | IMMELT JEFFREY R | Grant | 646 | — |
| 2025-03-15 | Epstein Jeff | Grant | 833 | — |
| 2025-03-15 | Dubinsky Donna | Grant | 618 | — |
| 2025-03-15 | Dubinsky Donna | Gift | 618 | — |
| 2025-03-15 | Dubinsky Donna | Gift | 618 | — |
| 2025-03-15 | Bell Charles H | Grant | 632 | — |
| 2025-03-15 | Stafman Andrew | Grant | 632 | — |
| 2025-02-21 | Viggiano Aidan | Sell | 2.5K | $117.45 |
| 2025-02-18 | Viggiano Aidan | Sell | 926 | $124.02 |
| 2025-02-18 | Viggiano Aidan | Sell | 150 | $124.65 |
| 2025-02-18 | Viggiano Aidan | Sell | 315 | $125.90 |
| 2025-02-18 | Viggiano Aidan | Grant | 34K | — |
| 2025-02-18 | Shipchandler Khozema | Grant | 62K | — |
| 2025-01-06 | Viggiano Aidan | Sell | 3.4K | $113.32 |
| 2025-01-06 | Viggiano Aidan | Sell | 3.2K | $113.79 |
| 2025-01-06 | Shipchandler Khozema | Sell | 5.0K | $113.31 |
| 2025-01-06 | Shipchandler Khozema | Sell | 5.8K | $113.82 |
| 2024-12-31 | Wagner Dana | Sell | 4.1K | $107.32 |
| 2024-12-31 | Wagner Dana | Sell | 100 | $107.74 |
| 2024-12-31 | Viggiano Aidan | Sell | 6.8K | $107.16 |
| 2024-12-31 | Shipchandler Khozema | Sell | 11K | $107.21 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-04-30 | ResultsExhibits | filing ↗ |
| 2026-03-24 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-12 | ResultsExhibits | filing ↗ |
| 2025-10-30 | ResultsExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
| 2025-06-11 | 5.03Shareholder voteExhibits | filing ↗ |
| 2025-05-01 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-16 | 0001447669-26-000055 ↗ |
| 10-Q | 2026-05-01 | 2026-03-31 | 0001447669-26-000049 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001447669-26-000046 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001447669-26-000027 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001447669-26-000021 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001447669-26-000010 ↗ |
| 10-Q | 2025-10-31 | 2025-09-30 | 0001447669-25-000151 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001447669-25-000147 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0001447669-25-000122 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001447669-25-000119 ↗ |
| 8-K | 2025-06-11 | 2025-06-10 | 0001193125-25-139163 ↗ |
| 10-Q | 2025-05-02 | 2025-03-31 | 0001447669-25-000073 ↗ |