Twilio, the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, reported financial results for its first quarter ended March 31, 2022.
Jeff Lawson, Twilio’s co-founder and CEOJeff Lawson, Twilio’s co-founder and CEO, said, “We carried our momentum into 2022 and delivered another strong quarter to start the year, with first quarter revenue coming in at $875 million, representing 48% year-over-year growth.
“We continue to improve and scale the fundamentals of our customer engagement platform, and our continued growth at scale further demonstrates the breadth of use cases as businesses everywhere are reimagining the way they work, think, do business and engage with their customers,” Lawson said.
First Quarter 2022 Financial Highlights
- Revenue of $875.4 million for the first quarter of 2022, up 48% year-over-year, including $32.2 million from Zipwhip. Organic revenue1 grew 35% year-over-year.
- GAAP loss from operations of $217.8 million for the first quarter of 2022, compared with GAAP loss from operations of $197.3 million for the first quarter of 2021.
- Non-GAAP income from operations of $5.0 million for the first quarter of 2022 compared with non-GAAP income from operations of $17.3 million for the first quarter of 2021.
- GAAP net loss per share attributable to common stockholders, basic and diluted, of $1.23 based on 180.9 million weighted average shares outstanding in the first quarter of 2022, compared with GAAP net loss per share attributable to common stockholders, basic and diluted, of $1.24 based on 167.2 million weighted average shares outstanding in the first quarter of 2021.
- Non-GAAP net income per share attributable to common stockholders, diluted, of $0.00 based on 184.5 million non-GAAP weighted average shares outstanding in the first quarter of 2022, compared with non-GAAP net income per share attributable to common stockholders, diluted, of $0.05 based on 180.6 million non-GAAP weighted average shares outstanding in the first quarter of 2021.
Key Metrics
- 268,000 Active Customer Accounts as of March 31, 2022, compared to 235,000 Active Customer Accounts as of March 31, 2021.
- Dollar-Based Net Expansion Rate was 127% for the first quarter of 2022, compared to 133% for the first quarter of 2021. Results from acquisitions closed after January 1, 2021, including Zipwhip, do not impact the calculation of this metric in either period.
- 8,199 employees as of March 31, 2022.
Executive Leadership Update
The Company also announced that effective May 4, 2022, Elena Donio will become Twilio’s President of Revenue, assuming responsibilities for all go-to-market functions, and as a result, has resigned from her position on Twilio’s Board of Directors. Elena is a remarkable executive and leader, with a career spanning 25 years at multiple tech companies.
Elena was previously CEO of Axiom, and prior to that spent the majority of her career at Concur in roles spanning product, go-to-market, general management, and finally, President of SAP Concur, where she oversaw growth and profitability for the entire business. As President of Revenue for Twilio, Elena will be responsible for scaling solution selling, driving leverage in sales, and supporting Twilio’s path to profitability.
“I couldn’t be more excited to join Twilio to help accelerate our journey to become the leading customer engagement platform. Having built my career around enterprise sales, marketing leadership, and product innovation, and with a deep understanding of Twilio’s business, team and culture from my six years on Twilio’s Board of Directors, I’m ready to hit the ground running. The chance to work with Jeff, Khozema, our remarkable management team, and the entire Twilio organization to go and capture this market is incredibly invigorating. I can’t wait to get to work,” said Elena Donio, Twilio’s President of Revenue.
After a number of discussions with Jeff Lawson, Marc Boroditsky, Twilio’s Chief Revenue Officer, decided to step down from his position, effective immediately, but will stay on for a short time in an advisory capacity to ensure a smooth transition.
