TWLO
Price: 8/4/2020: $283.76
Market Cap: 40.186 Billion
P/E: N/A
Cash flow yield: N/A
P/S: 28.87
Twilio (NYSE:TWLO): Q2 Non-GAAP EPS of $0.09 beats by $0.17; GAAP EPS of -$0.71 in-line.
Revenue of $400.8M (+45.7% Y/Y) beats by $31.97M.
Current Numbers
August 4th, 2020 2Q:2020 earnings highlights:
** Revenue was $400.849 million up 45.74% from $275.039 million
** TTM revenue was $1,392,007 billion up 60% from $881,373 million
** TTM Revenue per share was $9.83 up Sequentially from $9.09 per share
** 4Q earnings (loss) was ($0.71) up from ($0.72) per share
** TTM earnings were ($2.69) down from ($1.78) per share
** Diluted share count 141,618,541 million
** Cash $1,903,319 billion: debt $470,545 million
** Cash flow for the quarter was ($4,330) million up from ($15,104 million)
** Cash flow for the year was negative ($24,941 million) up from ($30,199 million)
** Stock-based compensation for the quarter was $79,387 million up 12.2% from $70,740 million
** Stock-based compensation for the year was $283,666 million up 54% from $183,791 million
** Trading range between May 7th, 2020 and August 4th, 2020 was $152.40 to $288.81: PE ratio range NA: Cash flow yield range NA: PS ratio range was 7.48 to 19.39:
** Special Note: The day after the report the stock went down $15.14, from $283.76 to $268.62 to gain most of it back and close at $278.11
Income Statement:
Revenue were up 45.7 percent. This was the first quarter where Sendgrid has been a portion of their revenue for one full year. They are no longer breaking out their Sendgrid stats. Some of their verticals are being hurt by the Covid virus but healthcare, education, and e-commerce are off setting the weakness. Their Top Ten customers are at 15% of Revenue which is flat sequentially but up 13 percent YoY.
Here are the numbers:
Rev and Share Count in Millions
Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220
Rev $129.1 $147.8 $168.9 $204.3 $233.1 $275 $295.1 $331.2 $364.9 $400.9
Rev Gr 47.8% 54.1% 68% 77.3% 80.6% 86.2% 74.7% 62.1% 56.5% 45.7%
EPS -.25 -.25 -.28 -.47 -.31 -.72 -.64 -.66 -.68 -.71
N(EPS) -.04 .03 .07 .04 .05 .03 .03 .04 .06 .09
Shares 94.674 96.348 98.020 99.42 116.6 129.3 136.4 137.7 139.2 141.6
Here are the numbers for margins and Operating expenses as a percentage of Revenues.
Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220
Cos Of Rev 46% 46% 46% 47% 46% 45% 46% 47% 47% 48%
GM 54% 54% 54% 54% 54% 55% 54% 53% 53% 52%
R&D 29% 27% 25% 25% 33% 36% 35% 33% 31% 30%
S&M 25% 26% 27% 29% 31% 33% 34% 32% 32% 32%
G&A 18% 16% 17% 20% 28% 20% 16% 16% 15% 15%
OM -19% -15% -15% -22% -38% -34% -32% -28% -25% -26%
Balance Sheet:
Their Cash improved but so did their debt. I think this is a wash because both cash and debt are increasing at minimal levels.
All numbers in millions
Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220
Cash $794.6 $745.4 $766.5 $918.9 $1,882.3 $1,881.8 $1,852.7 $1,843.4 $1,903
Debt $0 $0 $434.5 $445.2 $450.5 $452.2 $458.2 $464.4 $470.6
Cash Flow Statement:
Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220
FCF $(4.3M) $12.8M $(10.8m) $(17.1M) $(15.1M) $(1.56M) $(19.5M) $.59M $(4,330)
Stock Comp $21M $22.7M $31.99M $58.3M $70.7M $68.3M $66.99M $69M $79.4M
Stock Cmp% 14.2% 13.5% 15.7% 25% 25.7% 23.1% 20.2% 18.9% 19.8%
Conclusion:
Their Revenue growth did come down and some of their verticals were hurt by covid but by having such a
diverse customer base they were still able to grow at over 45% on Revenue. The company is now at almost
a 2 billion dollar run rate. I think they can keep the Revenue growing at least in the 40% range for
awhile now. Their Dbner, while fluctuating, has come down quite a bit from last quarter and is at 132%,
which is still very high. You could see last quarter how it jumped up to 143% from 124% how Twilio’s
business was affected by covid. Now it seems that it is starting to come back down since the rush to get
back on line is starting to subside. But Jeff Lawson (CEO) claimed that they have seen years long
digital transformation get compressed into weeks and months. He also stated that some customers digital
communication platforms have been accelerated 6 years. So after covid passes, the other verticals that
are being impacted start to perform. We should see an acceleration of Revenue and Dbner. How long this
will last? I can’t say for sure but it is something to look forward to.
Some final numbers:
Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220
DNER 132% 137% 145% 147% 146% 140% 132% 124% 143% 132%
Acc Cust 53985 57350 61153 64286 154797 161869 172092 179000 190000 200000
Acc Cust Gr 31% 187% 182% 181% 178% 23% 24%
Historic Numbers
February 7, 2017 4Q:2016 earnings highlights:
** 4Q revenue was $81.952 million up from $51.338 million
** Fiscal 2016 revenue was $277.335 million up from $166.919 million
** TTM revenue per share was $3.22 per share
** 4Q earnings were (loss) ($0.15) up from ($0.48) per share
** Fiscal 2016 earnings were (loss) ($0.78) up from (loss) ($2.19) per share
** Diluted share count 86.133 million
** Cash $313.11 million: debt 0
** Cash flow for the year was negative ($15.6 million)
** Cash flow for the quarter was negative ($6.29 million)
** Stock based compensation for the year was $24.225 million up from $8.877 million
** Trading range between February 7, 2017 and May 2, 2017 was $26.76 to $34.95: PE ratio range NA: Cash flow yield range NA: PS ratio range was 8.31 to 10.85
** Special note: the price fell $8.93 the day after the report to close at $25.01 on May 3, 2017.
May 2, 2017 1Q:2017 earnings highlights:
** Revenue was $87.372 million up 47.24% from $59.34 million
** TTM revenue was $305.367 million or $3.45 per share
** Earnings were (loss) ($0.16) up from (loss) ($0.37)
** TTM earnings were ($0.57) per share
** Diluted share count 88.613 million
** Cash $296 million: debt 0
** Cash flow for the quarter was negative ($6.18 million) down from $2.75 million
** TTM cash flow was negative ($24.53 million)
** Active customer accounts 40,696 up 42.1% from 28,648
** Trading range between May 2, 2017 and August 7, 2017 was $22.80 to $32.23: PE ratio range was NA: Cash flow yield range NA: PS ratio range was 6.61 to 9.34
August 7, 2017 2Q:2017 earnings highlights:
** Revenue was $95.87 million up 48.6% from $64.51 million
** TTM revenue was $336.73 million or $3.71 per share
** Earnings were (loss) ($0.08) up from ($0.45) per share
** TTM earnings were (loss) ($0.20) per share
** Diluted share count 90.873 million
** Active customer accounts 43,431 up from 30.780: Dollar-based net expansion rate 131%
** Cash flow for six months was negative ($18.821 million) down from negative ($2.22 million)
** TTM cash flow was negative ($32.201 million)
** Cash $297 million: debt 0
** Trading range between August 7, 2017 and November 8, 2017 was $26.86 to $34.74: PE ratio range NA: Cash flow yield NA: PS ratio range was 7.24 to 9.36
** Special Note: The stock price increased $3.05 the day after the report to close at $33.58 on August 8, 2017
November 8, 2017 3Q:2017 earnings highlights:
** Revenue was $100.542 million up from $71.533 million
** TTM revenue was $365.74 million or $3.97 per share
** Earnings were (loss) ($0.25) down from ($0.13)
** TTM earnings were (loss) ($0.32) per share
** Diluted share count 92.157 million
** Cash $291.387 million: debt 0
** Cash flow for nine months negative ($28 million) down from ($9.31 million)
** Cash flow for the quarter was negative ($9.179 million) down from negative ($7.09 million)
** TTM cash flow was negative ($34.29 million)
** Active customer accounts 46,489 up from 34,457: Dollar-based net expansion rate was 122%
** Trading range between November 8, 2017 and February 13, 2018 was $23.25 to $28.50: PE ratio range NA: Cash flow yield NA: PS ratio range was 5.86 to 7.2
February 13, 2018 4Q:2017 earnings highlights:
** Revenue was $115.236 million up 40.6% from $81.952 million
** TTM revenue was $399.02 million up 43.88% from $277.335 million
** TTM Revenue per share was $4.28 per share 32.9%
** Earnings were (loss) ($0.20) down from (0.15)
** Fiscal 2017 earnings (loss) were ($0.70)
** Diluted share count 93.247 million
** Cash $296.375 million: debt 0
** Cash flow for the year was negative ($29.788 million)
** Cash flow for the quarter was negative ($1.788 million) up from negative ($6.29 million)
** Stock based compensation $49.619 million up from $24.225 million
** Trading range between February 13, 2018 and May 8, 2018 was $28.59 to $44.74: PS ratio range was 6.68 to 10.45: PE ratio range NA: Cash flow yield NA:
** Special Note: The stock price increased $4.28 per share the day after the report to close at $30.72 per share.
May 8, 2018 1Q:2018 earnings highlights:
** Revenue was $129.116 million up from $87.372 million
** TTM revenue was $440.764 million or $4.66 per share
** Earnings were (loss) ($0.25) down from ($0.16)
** TTM earnings were (loss) ($0.76) per share
** Diluted share count 94.674 million
** Cash $313.51 million: debt 0
** Cash flow for the quarter was $11.201 million up from negative (6.18 million)
** TTM cash flow was negative ($12.407 million)
** Trading range between May 8, 2018 and August 6, 2018 was $48.15 to $65.37: PS ratio range was 10.33 to 14.02: PE ratio NA Cash flow yield NA
** Special Note: The stock price increased $8.06 the day after the report to close at $52.41 on May 9, 2018
August 6, 2018 2Q:2018 earnings highlights:
** Revenue was $147.754 million up 54.1% from $95.870 million
** TTM revenue was $492.648 million or $5.11 per share
** Earnings were (loss) ($0.25) down from ($0.08)
** TTM earnings were (loss) ($0.93) per share
** Diluted share count 96.348 million
** Cash $800.151 million: debt $423.099 million
** Stock based compensation for six months was $38.546 million up from $21.785 million
** TTM stock based compensation was $66.38 million
** Employees 1119
** Cash flow for six months was $7.201 million up from negative ($10.7 million)
** Cash flow for the quarter was negative ($4 million) up from negative ($4.52 million)
** TTM cash flow was negative ($11.89 million)
** Active customer count 57,350 up from 43,431: Dollar-based Net Expansion rate was 137%
** Gross margins 54%
** Trading range between August 6, 2018 and November 6, 2018 was $62.43 to $88.88: PS ratio range was 12.22 to 17.39: Cash flow yield range NA: PE ratio range NA
** Special Note: The stock price increased $11.28 per share the day after the report to close at $75.10 on August 7, 2018
November 6, 2018 3Q:2018 earnings highlights:
** Revenues were $168.895 million up 67.99% from $100.542 million
** TTM revenue was $561.001 million or $5.72 per share
** Earnings were (loss) ($0.28) down from ($0.25)
** TTM earnings were ($0.96)
** Diluted share count 98.02 million
** Cash $765.535 million: debt $428.778 million
** Cash flow for three quarters was ($5.491 million) up from negative ($27.948 million)
** TTM cash flow was Negative ($7.331 million)
** Stock based compensation was $61.287 million up from $35.973 million
** TTM stock based compensation was $74.933 million or 13.71% of sales
** Trading range between November 6, 2018 and February 12, 2019 was $71.56 to $119 per share: PE ratio range NA: Cash flow yield range NA: PS ratio range was 12.51 to 20.80
** Special Note: The stock price increased $25.17 per share the day after the report to close at $96.19
February 12, 2019 4Q:2018 earnings highlights:
** Revenue was $204.302 million up 77.3% from $115.236 million
** Fiscal 2018 revenue was $650.067 million (62.92%) up from $399.02 million
** TTM revenue per share was $6.54 per share (52.8%)
** 4Q earnings (loss) ($0.47) down from ($0.20) per share
** TTM earnings were ($1.26) down from ($0.70) per share
** Diluted share count 99.418 million
** Cash $766.462 million: Convertible senior notes $434.497 million
** Cash flow for the year was negative ($16.231 million) up from negative ($29.783 million)
** Stock based compensation for the year was $93.273 million
** Trading range between February 12, 2019 and April 30, 2019 was $103.25 to $137.40: PS ratio was 15.79 to 21: Cash flow yield range was NA: PE range NA
** Special note: The stock price fell $8.42 per share the day after the report to close at $106.87 on February 13, 2019
April 30, 2019 1Q:2019 earnings highlights:
** Revenues were $233.139 million up 80.57% from $129.116 million
** TTM Revenue was $754.09 million (71.1%) or $6.47 per share (38.84%)
** Earnings (loss) ($0.31) down from ($0.25) per share
** TTM earnings were (loss) ($1.33) per share
** Diluted share count 116.59 million
** Cash $920 million: debt $443.11 million
** Cash flow for the quarter was negative ($17.117 million) down from $11.201 million
** TTM cash flow for ($44.549 million)
** Trading range between April 30, 2019 and July 31, 2019 was $122.56 to $151(June 20, 2019): PS ratio range was 18.94 to 23.34: PE ratio range NA: Cash flow yield range NA:
** Special Note: The stock price fell $8.57 per share the day after the report to close at $128.57 per share on May 1, 2019
July 31, 2019 2Q:2019 earnings highlights:
** Revenue was $275.039 million up 86.14% from $147.754 million
** TTM revenue was $881.375 million (78.9%) or $6.82 per share 33.46%
** Earnings were (loss) ($0.72) down from ($0.25) per share
** TTM earnings were (loss) ($1.80) per share
** Diluted share count 129.311 million
** Cash and investments $1.883 billion: debt $450.533 million
** Cash flow for six months was negative ($24.339 million) down from $9.267 million
** TTM cash flow was negative ($49.827 million)
** Trading range between July 31, 2019 and October 30, 2019 was $99.70 to $143.98: PE ratio range was NA: PS ratio range was 14.62 to 21.11: Cash flow yield range was NA:
October 30, 2019 3Q:2019 earnings highlights:
** Revenue was $295.066 million up 74.7% from $168.895 million
** TTM Revenue was $1.008 billion (79.7%) or $7.39 per share (29.2%)
** Earnings (loss)($0.64) down from ($0.28)
** TTM earnings (loss) ($2.16) per share
** Diluted share count 136.4 million
** Cash $1.882 billion: debt $452.184 million
** Cash flow for the nine months was negative ($33.78 million) down from negative ($5.871 million)
** Cash flow for the quarter was negative ($9.441 million) an improvement from the negative ($15.138 million) reported last year.
** TTM cash flow was negative ($44.14 million)
** 172,092 active customer accounts up from 61,153
** Gross margins were 58.4%
** Stock based compensation for nine months was $129.064 million up from $38.546 million
** The trading range between October 30, 2019 and February 6, 2020 was $89.81 (November 5, 2019) and $133: PE ratio range NA: Cash flow yield range NA: PS ratio range 12.15 to 18:
** Special Note: The price dropped $11.14 the day after the report to close at $96.56 on October 31, 2019
February 5, 2020 4Q:2019 earnings highlights:
** Revenue was $331.224 million up 62.13% from $204.302 million
** TTM revenue was $1.135 billion up 74.6% from $650.067 million
** TTM Revenue per share was $8.24 per share up 25.99%
** 4Q earnings (loss) was ($0.66) down from ($0.47) per share
** Fiscal 2019 earnings were ($2.36) down from ($1.26) per share
** Diluted share count 137.729 million
** Cash $1.85 billion: debt $458.19 million
** Cash flow for the year was negative ($53.242 million) down from ($16.672 million)
** Cash flow for the quarter was negative ($19.462 million) down from ($10.801 million)
** Stock-based compensation for the quarter was $66.986 million up 109% from $31.986 million
** Stock-based compensation for the year was $264.318 million up 183% from $93.273 million
** Trading range between October 31st, 2019 and the present February 6, 2020 was $89.81 to $133: PS ratio range was 10.90 to 16.14:
** Special Note: The stock price fell $8.29 the day after the report to close at $118.86 on February 6, 2020
May 6th, 2020 1Q:2020 earnings highlights:
** Revenue was $364.868 million up 56.50% from $233.139 million
** TTM revenue was $1,266.197 billion up 67.9% from $754.088 million
** TTM Revenue per share was $9.09 per share
** 4Q earnings (loss) was ($0.68) down from ($0.31) per share
** Fiscal 2019 earnings were ($2.70) down from ($1.31) per share
** Diluted share count 139,231,594 million
** Cash $1.843 billion: debt $464.4 million
** Cash flow for the quarter was $590 thousand up from ($17.117 million)
** Cash flow for the year was negative ($35.535 million) down from ($19,344million)
** Stock-based compensation for the quarter was $69.025 million up 18% from $58.324 million
** Stock-based compensation for the year was $275.019 million up 105% from $134.057 million
** Trading range between February 6, 2020 and the present May 7th, 2020 was $68.06 to $176.37: PE ratio range NA: Cash flow yield range NA: PS ratio range was 7.48 to 19.39:
** Special Note: The day after the report the stock went up $48.49, from $122.40 to $170.89
August 4th, 2020 2Q:2020 earnings highlights:
** Revenue was $400.849 million up 45.74% from $275.039 million
** TTM revenue was $1,392,007 billion up 60% from $881,373 million
** TTM Revenue per share was $9.83 up Sequentially from $9.09 per share
** 4Q earnings (loss) was ($0.71) up from ($0.72) per share
** TTM earnings were ($2.69) down from ($1.78) per share
** Diluted share count 141,618,541 million
** Cash $1,903,319 billion: debt $470,545 million
** Cash flow for the quarter was ($4,330) million up from ($15,104 million)
** Cash flow for the year was negative ($24,941 million) up from ($30,199 million)
** Stock-based compensation for the quarter was $79,387 million up 12.2% from $70,740 million
** Stock-based compensation for the year was $283,666 million up 54% from $183,791 million
** Trading range between May 7th, 2020 and August 4th, 2020 was $152.40 to $288.81: PE ratio range NA: Cash flow yield range NA: PS ratio range was 7.48 to 19.39:
** Special Note: The day after the report the stock went down $15.14, from $283.76 to $268.62 to gain most of it back and close at $278.11
Andy