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Twilio (TWLO)

SaaS · IPO 2016 · Historical SBC from SEC EDGAR

Financials (2025)
Revenue
$5.1B
Revenue Growth YoY
13.7%
EBITDA
$353M
Net Income
$34M
Stock Price
—
Market Cap
—
Stock-Based Compensation (2025)
SBC Expense
$600M
SBC % of Revenue
11.8%
SBC % of EBITDA
170.0%
SBC % of Market Cap
—
Buybacks
$869M
Unrecognized SBC
—
SBC % of Revenue — Historical
SBC vs Buybacks ($M) — Historical
SBC % Revenue vs SBC % Market Cap
Revenue-based SBC % is the P&L view. Market-cap-based % is the shareholder dilution view — how much of the company is given away each year.
Market Cap vs Cumulative SBC
Total SBC expense paid since earliest data year vs current market cap. Shows the cumulative cost of stock-based compensation relative to company size.
GAAP vs "Adjusted" Earnings
GAAP net income already includes SBC as a real expense. But many companies highlight "adjusted" earnings that add SBC back, flattering profitability. The orange gap shows how much non-GAAP metrics overstate real earnings each year.
Ownership Retained Over Time
100 = your original ownership at the earliest data year. Net share issuance drives this down.
Annual Gross Dilution vs Buyback Offset
Red = gross share issuance from SBC. Green = shares retired via buybacks. Both as % of prior-year shares.
Year-by-Year Detail
Year SBC ($) Revenue ($) EBITDA ($) SBC % Rev SBC % EBITDA Rev Growth Buybacks ($) Net Income ($) Shares (EOY) Price (EOY) Market Cap SBC % MCap Unrecognized SBC ($)
2025 $600M $5.1B $353M 11.8% 170.0% 13.7% $869M $34M 152,411,346 — — — —
2024 $617M $4.5B $152M 13.8% 404.9% 7.3% $2.3B $-109M 152,610,697 — — — —
2023 $676M $4.2B $-592M 16.3% neg 8.6% $669M $-1.0B 181,945,771 — — — —
2022 $799M $3.8B $-926M 20.9% neg 34.6% $0 $-1.3B 185,975,709 — — — —
2021 $632M $2.8B $-657M 22.2% neg 61.3% $0 $-950M 180,468,099 — — — —
2020 $361M $1.8B $-343M 20.5% neg 55.3% — $-491M 164,047,524 — — — —
2019 $264M $1.1B $-259M 23.3% neg 74.5% $0 $-307M 138,412,799 — — — —
2018 $93M $650M $-89M 14.3% neg 62.9% $0 $-122M 100,080,228 — — — —
2017 $50M $399M $-47M 12.4% neg 43.9% $100K $-64M 93,969,796 — — — —
2016 $24M $277M $-33M 8.7% neg 66.1% $2K $-41M 87,248,548 — — — —
2015 $9M $167M $-31M 5.3% neg 87.9% — $-36M 17,324,003 — — — —
2014 IPO $4M $89M $-25M 4.5% neg — — $-27M — — — — —