Twilio down ~5% after hours despite posting a strong beat for the Quarter.
Twilio’s second-quarter forecast predicted adjusted losses beyond analysts’ expectations. For Q2, Twilio forecasted adjusted losses of 13-16 cents a share on sales of $591-$601 million. Analysts on average were expecting adjusted losses of 4 cents a share on sales of $579 million in the second quarter, according to FactSet.
CFO Shipchandler explained in the Prepared Remarks:
“With regards to our operating loss guidance for the second quarter, as we have
previously discussed, some of the investments we planned on making last year did not
materialize as we had originally forecast due to COVID. Those investments are largely
centered on enterprise sales, Flex and new growth products, plus core systems and
infrastructure. As of the end of Q1, we have largely caught up on the hiring related to
these investments, which will generate losses in the short term while allowing us to
grow at elevated levels, and sets us up well to scale in the long term.”
First Quarter 2021 Financial Highlights
-Revenue of $590.0 million for the first quarter of 2021, up 62% year-over-year, including $44.6 million from Twilio Segment.
-GAAP loss from operations of $197.3 million for the first quarter of 2021, compared with GAAP loss from operations of $92.7 million for the first quarter of 2020.
-Non-GAAP income from operations of $17.3 million for the first quarter of 2021 compared with non-GAAP income from operations of $6.1 million for the first quarter of 2020.
-First Quarter Revenue Dollar-Based Net Expansion Rate of 133%
-Revenue Growth of 47%-50% on $591-$601 million in Revenue
-Guidance includes the revenue contribution from Twilio Segment
Non-GAAP loss from operations of ($27) million to ($22) million
• Non-GAAP loss per share of ($0.16) - ($0.13)