TWILIO INC
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
TWLO$214.21+3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: · (In thousands) | |||
| Net loss | $(1,015,441) | $(1,256,145) | $(949,900) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 284,413 | 279,127 | 258,378 |
| Non-cash reduction to the right-of-use asset | 26,971 | 47,160 | 48,786 |
| Net amortization of investment premium and discount | (44) | 33,165 | 36,158 |
| Impairment of long-lived assets | 320,504 | 97,722 | — |
| Stock-based compensation including restructuring | 675,857 | 798,560 | 632,285 |
| Amortization of deferred commissions | 72,892 | 57,913 | 31,541 |
| Realized and unrealized losses on equity securities | 8,043 | — | — |
| Provision for doubtful accounts | 51,859 | 35,012 | 7,210 |
| Value of shares of Class A common stock issued and donated to charity | 5,346 | 9,541 | 31,169 |
| Share of losses from equity method investment | 121,897 | 35,315 | — |
| Impairment of strategic investments | 46,154 | — | — |
| Loss on net assets divested | 32,277 | — | — |
| Loss on extinguishment of debt | — | — | 28,965 |
| Other adjustments | 14,669 | 4,905 | 2,329 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (85,093) | (194,655) | (117,943) |
| Prepaid expenses and other current assets | (56,283) | (94,326) | (78,012) |
| Other long-term assets | (2,328) | (146,458) | (121,225) |
| Accounts payable | 12,370 | 30,336 | 10,191 |
| Accrued expenses and other current liabilities | (51,816) | 75,430 | 127,554 |
| Deferred revenue and customer deposits | 5,371 | (2,688) | 45,634 |
| Operating lease liabilities | (56,340) | (54,450) | (49,046) |
| Other long-term liabilities | 3,474 | (9,832) | (2,266) |
| Net cash provided by (used in) operating activities | 414,752 | (254,368) | (58,192) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Acquisitions, net of cash acquired and payments related to prior period acquisitions | (5,770) | (37,410) | (491,522) |
| Divestitures, net of cash divested | 38,194 | — | — |
| Purchases of marketable securities and other investments | (1,953,003) | (1,938,337) | (3,523,232) |
| Proceeds from sales and maturities of marketable securities | 2,200,417 | 1,439,477 | 1,614,779 |
| Capitalized software development costs | (39,925) | (45,761) | (43,973) |
| Purchases of long-lived and intangible assets | (11,310) | (34,421) | (46,048) |
| Net cash provided by (used in) investing activities | 228,603 | (616,452) | (2,489,996) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from public offerings, net of underwriters' discounts | — | — | 1,766,400 |
| Payments of costs related to public offerings | — | (35) | (687) |
| Proceeds from issuance of senior notes due 2029 and 2031, net of issuance costs | — | — | 984,723 |
| Proceeds from settlements of capped call, net of settlement costs | — | — | 228,412 |
| Principal payments on debt and finance leases | (16,134) | (13,423) | (8,295) |
| Value of equity awards withheld for tax liabilities | (2,565) | (1,098) | (10,388) |
| Repurchases of shares of Class A common stock and related costs | (668,751) | — | — |
| Proceeds from exercises of stock options and shares of Class A common stock issued under ESPP | 43,840 | 59,563 | 136,160 |
| Net cash (used in) provided by financing activities | (643,610) | 45,007 | 3,096,325 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 108 | 60 | (191) |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (147) | (825,753) | 547,946 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period | 656,078 | 1,481,831 | 933,885 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period | $655,931 | $656,078 | $1,481,831 |
| Cash paid for income taxes, net | $37,818 | $7,413 | $6,147 |
| Cash paid for interest | $38,389 | $37,500 | $20,637 |
| NON-CASH FINANCING ACTIVITIES: | |||
| Value of common stock issued and equity awards assumed in acquisition | $— | $— | $420,681 |
| Value of common stock issued to settle convertible senior notes due 2023 | $— | $— | $1,704,969 |
| RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS | |||
| Cash and cash equivalents | $655,931 | $651,752 | $1,479,452 |
| Restricted cash in other current assets | — | 4,314 | 1,536 |
| Restricted cash in other long-term assets | — | 12 | 843 |
| Total cash, cash equivalents and restricted cash | $655,931 | $656,078 | $1,481,831 |
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