As you know, I exited Twilio a couple of months ago because of their deceptive revenue growth. This is an interesting excerpt from a free article by Stone Fox on Seeking Alpha. I thought that the revenue per share was an interesting way to look at it. (Bolding is mine)
For Q3, Twilio reported 75% growth on revenues of $295 million….
…Hidden in the earnings call was details that organic base revenue only grew 47%, with the SendGrid revenue base growing just 31% to $49 million…. 2019. Analysts now forecast 2021 revenues only growing 27% to $1.86 billion….
…Another way to view the revenue growth in 2019 is to look at the revenue per share. For 2018, Twilio had revenue of $650 million and a diluted share count of 108 million. For 2019, Twilio has a projected revenue base of $1.11 billion with a diluted share count of 143 million. Revenues per share only grew 29% to $7.79 per share from $6.02 per share from last year. This key revenue metric is mostly ignored by investors caught up with top line growth metrics (including revenue from the combined companies and comparing that with just Twilio’s revenue from last year).
Saul