Twilio reports strong Q1 results as it digest SendGrid
Twilio, which provides a variety of cloud communication services, handily topped its first quarter targets.
The company reported revenue of $233.1 million, up 81 percent from a year ago. The sales tally includes the acquisition of SendGrid as of Feb. 1. The company reported a net loss of 31 cents a share in the first quarter with a non-GAAP profit of 5 cents a share.
Wall Street was expecting Twilio to report first quarter sales of $222.8 million with non-GAAP earnings of a penny a share.
CEO Jeff Lawson said that the company has been adding customers and the acquisition of SendGrid should provide more opportunity.
Indeed, Twilio said it had 154,797 active customer accounts as of March 31, up from 53,985 a year ago. That figure includes SendGrid.
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The company ended the quarter with 2,114 employees.
As for the outlook, Twilio projected second quarter revenue of $262 million to $265 million with non-GAAP earnings of 2 cents a share to 3 cents a share. Wall Street was projecting non-GAAP second quarter earnings of 3 cents a share on revenue of $251.5 million.