2024 Q3 Form 10-Q Financial Statement

#000144766924000128 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.083B
YoY Change 4.31%
Cost Of Revenue $526.7M
YoY Change -1.01%
Gross Profit $555.8M
YoY Change 9.9%
Gross Profit Margin 51.35%
Selling, General & Admin $331.5M
YoY Change -16.37%
% of Gross Profit 59.65%
Research & Development $243.7M
YoY Change 7.38%
% of Gross Profit 43.83%
Depreciation & Amortization $23.30M
YoY Change -4.12%
% of Gross Profit 4.19%
Operating Expenses $574.9M
YoY Change -11.23%
Operating Profit -$19.04M
YoY Change -86.58%
Interest Expense -$7.240M
YoY Change -77.63%
% of Operating Profit
Other Income/Expense, Net -$7.206M
YoY Change -69.49%
Pretax Income -$26.24M
YoY Change -84.14%
Income Tax $5.615M
% Of Pretax Income
Net Earnings -$31.86M
YoY Change -80.83%
Net Earnings / Revenue -2.94%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$0.19
COMMON SHARES
Basic Shares Outstanding 160.6M shares 171.2M shares
Diluted Shares Outstanding 170.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.116B
YoY Change -15.41%
Cash & Equivalents $755.1M
Short-Term Investments $2.361B
Other Short-Term Assets $310.3M
YoY Change -18.51%
Inventory
Prepaid Expenses
Receivables $537.3M
Other Receivables $0.00
Total Short-Term Assets $3.964B
YoY Change -15.02%
LONG-TERM ASSETS
Property, Plant & Equipment $262.5M
YoY Change -18.39%
Goodwill $5.200B
YoY Change -0.83%
Intangibles $293.3M
YoY Change -59.69%
Long-Term Investments $541.1M
YoY Change -17.63%
Other Assets $203.8M
YoY Change -29.87%
Total Long-Term Assets $6.544B
YoY Change -9.61%
TOTAL ASSETS
Total Short-Term Assets $3.964B
Total Long-Term Assets $6.544B
Total Assets $10.51B
YoY Change -11.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.83M
YoY Change -33.87%
Accrued Expenses $493.5M
YoY Change 0.25%
Deferred Revenue $138.7M
YoY Change -0.49%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $4.439M
YoY Change -53.47%
Total Short-Term Liabilities $711.5M
YoY Change -6.36%
LONG-TERM LIABILITIES
Long-Term Debt $994.7M
YoY Change -0.79%
Other Long-Term Liabilities $19.39M
YoY Change 1.03%
Total Long-Term Liabilities $19.39M
YoY Change 1.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $711.5M
Total Long-Term Liabilities $19.39M
Total Liabilities $1.828B
YoY Change -5.17%
SHAREHOLDERS EQUITY
Retained Earnings -$6.447B
YoY Change 47.11%
Common Stock $15.14B
YoY Change 4.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.679B
YoY Change
Total Liabilities & Shareholders Equity $10.51B
YoY Change -11.73%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$31.86M
YoY Change -80.83%
Depreciation, Depletion And Amortization $23.30M
YoY Change -4.12%
Cash From Operating Activities $213.3M
YoY Change 179.46%
INVESTING ACTIVITIES
Capital Expenditures $15.77M
YoY Change 34.55%
Acquisitions
YoY Change
Other Investing Activities $800.4M
YoY Change 150.88%
Cash From Investing Activities $784.6M
YoY Change 155.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -897.8M
YoY Change 158.12%
NET CHANGE
Cash From Operating Activities 213.3M
Cash From Investing Activities 784.6M
Cash From Financing Activities -897.8M
Net Change In Cash 100.2M
YoY Change 179.52%
FREE CASH FLOW
Cash From Operating Activities $213.3M
Capital Expenditures $15.77M
Free Cash Flow $197.6M
YoY Change 205.74%

Facts In Submission

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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2024Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic
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170222104 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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86000 usd
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159253000 usd
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296000 usd
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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39355000 usd
us-gaap Stock Repurchased During Period Value
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324252000 usd
twlo Apic Share Based Payment Arrangement Increase For Cost Recognition Restructuring
APICShareBasedPaymentArrangementIncreaseForCostRecognitionRestructuring
10629000 usd
CY2023Q2 us-gaap Stockholders Equity
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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105383000 usd
us-gaap Depreciation Depletion And Amortization
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146388000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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16074000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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12572000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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31116000 usd
us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Capitalized Contract Cost Amortization
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37788000 usd
us-gaap Capitalized Contract Cost Amortization
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36067000 usd
us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
667000 usd
us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
46154000 usd
us-gaap Other Operating Activities Cash Flow Statement
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7924000 usd
us-gaap Other Operating Activities Cash Flow Statement
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13275000 usd
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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92130000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
45116000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Other Noncurrent Assets
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19180000 usd
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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23655000 usd
us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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306000 usd
us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Payments To Acquire Investments
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511734000 usd
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1592970000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1050010000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
25835000 usd
us-gaap Payments To Develop Software
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20075000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
2756000 usd
us-gaap Payments To Acquire Other Productive Assets
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8254000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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974384000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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509777000 usd
us-gaap Repayments Of Long Term Debt And Capital Securities
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7060000 usd
us-gaap Repayments Of Long Term Debt And Capital Securities
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9804000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1963000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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2509000 usd
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Proceeds From Stock Plans
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21700000 usd
us-gaap Proceeds From Stock Plans
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28078000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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108000 usd
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116828000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
26309000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations
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0 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations
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7306000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
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116828000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
19003000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
655931000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
656078000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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772759000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
675081000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
19473000 usd
us-gaap Income Taxes Paid Net
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17578000 usd
us-gaap Interest Paid Net
InterestPaidNet
19007000 usd
us-gaap Interest Paid Net
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19261000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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755065000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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675081000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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7554000 usd
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CY2024Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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10140000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
772759000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
675081000 usd
us-gaap Nature Of Operations
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Organization and Description of Business<div style="margin-top:12pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Twilio Inc. (the “Company”) was incorporated in the state of Delaware on March 13, 2008. Today's leading companies trust Twilio's Customer Engagement Platform to build direct, personalized relationships with their customers everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of their customers’ journey, from sales to marketing to growth, customer service and many more engagement use cases in a flexible, programmatic way.</span></div><div style="margin-top:12pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s headquarters are located in San Francisco, California, and the Company has subsidiaries across North America, South America, Europe, Asia and Australia.</span></div>
us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:33.91pt">Use of Estimates</span><div style="margin-top:12pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are used for, but not limited to, revenue allowances and sales credit reserves; recoverability of long-lived and intangible assets; allocation of goodwill to reporting units; impairment assessments of goodwill and indefinite-lived intangible assets; capitalization and useful life of the Company’s capitalized internal-use software development costs; fair value of acquired intangible assets and goodwill; accruals and contingencies. Estimates are based on historical experience and on various assumptions that the Company believes are reasonable under then current circumstances. However, future events are subject to change and best estimates and judgments may require further adjustments, therefore, actual results could differ materially from those estimates. Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation.</span></div>
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
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152600000 usd
CY2024Q2 us-gaap Contract With Customer Liability
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138700000 usd
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CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
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27200000 usd
us-gaap Contract With Customer Liability Revenue Recognized
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97400000 usd
us-gaap Contract With Customer Liability Revenue Recognized
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98600000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:35.01pt">Concentration of Credit Risk</span><div style="margin-top:12pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially expose the Company to a concentration of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities and accounts receivable. The Company maintains cash, cash equivalents, restricted cash and marketable securities with financial institutions. Certain balances held by such financial institutions exceed insured limits.</span></div>The Company sells its services to a wide variety of customers. If the financial condition or results of operations of any significant customer deteriorates substantially, operating results could be adversely affected. To reduce credit risk, management performs credit evaluations of the financial condition of significant customers and periodic re-evaluations, as needed, of existing customers. The Company does not require collateral from its credit customers and maintains reserves for estimated credit losses on customer accounts when considered necessary. Actual credit losses may differ from the Company’s estimates.
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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37200000 usd
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42000000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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567574000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
567574000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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2368108000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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2174000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
9092000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2245000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2358945000 usd
CY2024Q2 us-gaap Equity Securities Fv Ni Cost
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2118000 usd
CY2024Q2 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
2118000 usd
CY2024Q2 twlo Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
2370226000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2174000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
9092000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2245000 usd
CY2024Q2 us-gaap Investments Fair Value Disclosure
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