Twilio Reports 52% Q3 Revenue Increase

Twilio, a cloud communications platform and provider of the SendGrid email service, saw a 52% increase in revenue to $448 million during the third quarter compared to the same period last year.  

However, the GAAP loss from operations hit $112.3, compared to $94.7 million for the third quarter of 2019. 

Yet non-GAAP income from operations rose $7.3 million for the third quarter of 2020, versus $3.6 million for the third quarter of 2019.

For the fourth quarter, the company is projecting revenue of $450 million to $455 million, reflecting a 36%-37% increase YoY.  

It also predicts non-GAAP losses of $15 million to $10 million. 

Among the highlights for the third quarter is the announcement that Twilio will acquire Segment, a customer data platform, for $3.2 billion. 

In addition, the firm completed a follow-on offering of Class A common stock, resulting in aggregate proceeds o $1.4 billion. The funds will be used for “general corporate purposes, including acquisitions, refinancing or repayment of debt, capital expenditures, working capital and share repurchases. 

The company reports that it now has 3,664 employees.

In another development during the quarter, the firm hired its first chief diversity, inclusion and belonging officer, Lybra Clemons.




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