Twilio Inc. announced on March 5, 2024, the results of an operational review of its Segment business, setting financial targets for fiscal years 2024 and 2025. The company confirmed its Q1 earnings guidance, previously issued on February 14, 2024. Additionally, Twilio's board authorized a $2 billion expansion of its share repurchase program, aiming to complete it by the end of 2024. This new authorization is on top of the existing program, which had $200 million remaining. The repurchase program will involve open market transactions, privately negotiated transactions, and other methods in compliance with securities laws. Twilio's board and management, including CEO Khozema Shipchandler, initiated the review following the Segment business's underperformance. After considering various strategies, including a potential sale, the decision was made to retain Segment and...Show More

Twilio Inc. announced on March 5, 2024, the results of an operational review of its Segment business, setting financial targets for fiscal years 2024 and 2025. The company confirmed its Q1 earnings guidance, previously issued on February 14, 2024. Additionally, Twilio's board authorized a $2 billion expansion of its share repurchase program, aiming to complete it by the end of 2024. This new authorization is on top of the existing program, which had $200 million remaining. The repurchase program will involve open market transactions, privately negotiated transactions, and other methods in compliance with securities laws. Twilio's board and management, including CEO Khozema Shipchandler, initiated the review following the Segment business's underperformance. After considering various strategies, including a potential sale, the decision was made to retain Segment and implement operational changes to reach non-GAAP income from operations break-even by Q2 2025. The company also aims to achieve consolidated GAAP operating profitability by Q4 2025. Thomas Wyatt has been appointed as President of Twilio Segment, effective March 11, 2024. Wyatt's experience in data analytics and AI is expected to help Twilio reach its financial and operational goals. Twilio's Segment business, which accounted for 7% of the company's 2023 revenue, is seen as a key differentiator and is expected to strengthen Twilio's Communications product offerings.