Twilio tops Q3 earnings targets, losses widen
Image: Twilio.
Cloud-based communications provider Twilio delivered solid third quarter earnings and revenue Thursday.
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The company reported a net loss of $11.3 million, or 13 cents per share, up from a pre-IPO net loss of $9.01 million, or 70 cents per share, over the same period a year ago. Twilio went public in June.
The company's non-GAAP earnings were a loss of 4 cents a share on revenue of $71.5 million, up 62 percent year-over-year.
Wall Street was bracing for a loss of 8 cents a share on revenue of $67.2 million. Twilio's share were down nearly 4 percent in late trading.
"We are pleased that our third quarter results demonstrated further success with both new and existing customers," said Twilio CEO and co-founder Jeff Lawson. "We continued to set the pace of innovation with multiple product launches during the quarter, including new subscription offerings."
As for the rest of Twilio's balance sheet, the company says it now has 34,457 active customer accounts, up from the 26,648 accounts it had at the time of its IPO. Lawson highlighted Twilio's Q3 launch of its new subscription-based enterprise plan, which touts higher levels of security and granular admin controls.
Looking ahead, Twilio issued a revenue outlook of $72.5 million to $74.5 million with an adjusted earnings loss per share of 6 cents to 5 cents. Analysts are expecting revenue of $70.5 million and a loss of 6 cents per share.
Earlier in October, Twilio spooked investors when it filed paperwork with the U.S. Securities and Exchange Commission seeking to raise an additional $400 million on the public market. The company said the majority of the shares would be Class A common stock and come from existing shareholders.