Summary by Futu AI
Twilio Inc. (TWLO.US), a leading cloud communications platform, has reported its annual financial performance for the fiscal year ended December 31, 2023. The company saw a revenue increase to $4.2 billion, up from $3.8 billion in 2022, and a reduction in net loss to $1.0 billion from $1.3 billion the previous year. Twilio's share repurchase program, authorized in February 2023, resulted in the repurchase of $672.1 million in common stock, with approximately $327.9 million remaining for future repurchases. The company's business development was marked by the restructuring into two business units: Communications and Segment, with the latter being renamed from Data & Applications. Twilio's future plans include optimizing business processes, modernizing infrastructure, leveraging AI, and focusing on self-service to improve efficiencies. The company also intends to complete an operational review of its Segment business by March 2024. Despite a challenging macroeconomic environment, Twilio remains focused on profitable growth, expanding internationally, and enhancing Segment interoperability to increase revenue and market share.