Twilio Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	33.83	-109.4	-1,015	-1,256	-949.9
Depreciation & Amortization	195.44	205.98	284.41	279.13	258.38
Stock-Based Compensation	600.41	616.61	675.86	798.56	632.29
Other Adjustments	287.43	237.19	700.57	320.73	186.16
Change in Receivables	-55.07	-61.16	-85.09	-194.66	-117.94
Changes in Accounts Payable	-14.97	-20.26	12.37	30.34	10.19
Changes in Accrued Expenses	102.65	87.43	-51.82	75.43	127.55
Changes in Unearned Revenue	2.04	11.18	5.37	-2.69	45.63
Changes in Other Operating Activities	-148.52	-251.34	-111.48	-305.07	-250.55
Operating Cash Flow	1,003	716.24	414.75	-254.37	-58.19
Operating Cash Flow Growth	40.07%	72.69%	-	-	-
Capital Expenditures	-5.85	-6.98	-11.31	-34.42	-46.05
Purchases of Intangible Assets	-51.97	-51.81	-39.93	-45.76	-43.97
Purchases of Investments	-1,051	-923.86	-1,953	-1,938	-3,523
Proceeds from Sale of Investments	1,251	2,353	2,200	1,439	1,615
Payments for Business Acquisitions	-61.5	-	-5.77	-37.41	-491.52
Proceeds from Business Divestments	-	-	38.19	-	-
Investing Cash Flow	80.95	1,371	228.6	-616.45	-2,490
Long-Term Debt Issued	-	-	-	-	984.72
Long-Term Debt Repaid	-5.31	-12.56	-16.13	-13.42	-8.3
Net Long-Term Debt Issued (Repaid)	-5.31	-12.56	-16.13	-13.42	976.43
Issuance of Common Stock	41.36	37.39	43.84	59.56	1,903
Repurchase of Common Stock	-868.94	-2,334	-668.75	-	-
Net Common Stock Issued (Repurchased)	-827.58	-2,297	-624.91	59.56	1,903
Other Financing Activities	-0.21	-2	-2.57	-1.13	217.34
Financing Cash Flow	-833.1	-2,312	-643.61	45.01	3,096
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.11	-	-	0.06	-0.19
Net Cash Flow	251.1	-224.49	-0.15	-825.75	547.95
Free Cash Flow	997.4	709.26	403.44	-288.79	-104.24
Free Cash Flow Growth	40.62%	75.80%	-	-	-
FCF Margin	19.68%	15.91%	9.71%	-7.55%	-3.67%
Free Cash Flow Per Share	6.24	4.27	2.20	-1.58	-0.60
Levered Free Cash Flow	159.32	-95.94	-904.02	-1,227	171.69
Unlevered Free Cash Flow	349.49	-15.08	-732.53	-1,150	-780.93

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.