Twilio (TWLO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Twilio published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Twilio reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Twilio's reported revenue includes pass-through A2P messaging fees that major U.S. carriers introduced from Q3 2025. Twilio's organic revenue excludes them ($53.1 million in Q3 2026) and acquisition revenue, which is why organic growth (16%) is below reported growth (20%).
• Twilio released most of the valuation allowance on its U.S. deferred tax assets in Q2 2026, a discrete tax benefit of $937.1 million, which lifted Q2 2026 GAAP EPS in the history table to $6.68.

Source: Twilio Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Twilio splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Twilio's United States revenue was $997 million in Q3 2026, up 20% from $831 million in Q3 2025, 64% of total revenue.
• Twilio's International revenue was $562 million in Q3 2026, up 20% from $470 million in Q3 2025, 36% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Twilio said:

“For the fourth quarter ending December 31, 2026, Twilio is initiating a revenue range of $1.595 to $1.605 billion, which implies a reported revenue growth range of 17% to 17.5% and an organic revenue growth range of 11% to 12% year-over-year.”

“In addition, Twilio is initiating a fourth quarter non-GAAP income from operations range of $300 to $310 million.”

“Lastly, Twilio expects fourth quarter non-GAAP diluted earnings per share in a range of $1.48 to $1.53, based on non-GAAP weighted average diluted shares outstanding of 163 million.”

“For fiscal year 2026, Twilio is raising its reported revenue growth outlook to 20% compared with 18% to 18.5% previously, and its organic revenue growth range outlook to 15% year-over-year compared with 13% to 13.5% previously.”

Source: Twilio Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the TWLO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Q2 2026 GAAP EPS of $6.68 included a non-cash benefit of $5.91 per share from the release of the valuation allowance on Twilio's U.S. deferred tax assets.

We do not hold a confirmed date for Twilio's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Twilio's revenue rose 20% to $1,559.5 million in Q3 2026, from $1,300.4 million. Organic revenue, which strips out $53.1 million of A2P fee revenue and $1.8 million of acquisition revenue, was $1,504.6 million, up 16%. (Twilio Q3 2026 release, Oct 29, 2026)

Major U.S. carriers introduced incremental application-to-person (A2P) messaging fees from Q3 2025. They added $53.1 million to Twilio's revenue and the same $53.1 million to its network service provider costs, which rose $129.3 million in total. Gross profit rose 20% to $760.5 million. (Twilio Form 10-Q, Q3 2026, Oct 30, 2026; Twilio Q3 2026 release, Oct 29, 2026)

According to the 10-Q, most of the growth came from existing customers using more, shown in a Dollar-Based Net Expansion Rate of 114%, against 109% a year earlier. Customer accounts outside that calculation, mainly new ones, added $81.0 million of revenue. (Twilio Form 10-Q, Q3 2026, Oct 30, 2026)

Twilio is mostly a usage business: 76% of Q3 2026 revenue came from usage-based fees and the rest from subscriptions. The United States brought in $997.3 million, or 64%, and international customers $562.2 million, or 36%, the same split as a year earlier. Twilio reports as a single segment. (Twilio Form 10-Q, Q3 2026, Oct 30, 2026)

Twilio's GAAP diluted EPS was $1.00 in Q3 2026 and non-GAAP diluted EPS was $1.65, against $0.23 and $1.25 a year earlier. The largest adjustment is stock-based compensation, $0.95 per share; Twilio also adds back amortization of acquired intangibles ($0.05), payroll taxes on stock compensation ($0.05), charitable contributions ($0.03) and its share of losses from its equity method investment in Syniverse ($0.16), less a $0.60 tax effect. (Twilio Q3 2026 release, Oct 29, 2026; Twilio Form 10-Q, Q3 2026, Oct 30, 2026)

GAAP income from operations rose to $148.6 million from $40.9 million, and Twilio recorded a $22.0 million tax benefit, mainly excess benefits on share-based awards that now count because Twilio released its valuation allowance on U.S. deferred tax assets in Q2 2026. That release produced a $937.1 million income tax benefit in Q2. (Twilio Q3 2026 release, Oct 29, 2026; Twilio Form 10-Q, Q3 2026, Oct 30, 2026)

Diluted shares rose to 161,746,027 from 159,209,951. Twilio repurchased $127.2 million of stock in Q3 2026 and has completed approximately $1.3 billion of its $2.0 billion authorization, which runs to December 31, 2027. (Twilio Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Twilio guides the next quarter in its release. For Q4 2026 it expects revenue of $1.595 to $1.605 billion, reported growth of 17% to 17.5% and organic growth of 11% to 12%, non-GAAP income from operations of $300 to $310 million, and non-GAAP diluted EPS of $1.48 to $1.53 on 163 million shares. (Twilio Q3 2026 release, Oct 29, 2026)

For fiscal 2026 Twilio raised its reported revenue growth outlook to 20% from 18% to 18.5%, and organic growth to 15% from 13% to 13.5%. It raised non-GAAP income from operations and free cash flow to $1.19 billion to $1.20 billion each, from $1.135 billion to $1.155 billion. (Twilio Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Twilio, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Twilio's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning TWLO is on is TWLO a buy or a sell?, what analysts expect next is on the TWLO forecast, and what the company does is on the Twilio (TWLO) stock page.

Every number on this page can be traced to a document Twilio published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.