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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Twilio has shifted from heavy sales spending to disciplined operating leverage: sales & marketing has been pulled down materially from its peak while R&D stays elevated, signaling a deliberate pivot toward product-led growth (Voice/Voice AI, multiproduct monetization) rather than acquisition-heavy tactics. G&A has been trimmed and large restructuring/impairment charges are largely behind it, which helped drive the recent non‑GAAP margin and cash‑flow improvement. That progress reduces runway risk, but carrier pass‑through fee headwinds will still blunt margin gains unless product-led revenue acceleration continues.
Date | Sales and Marketing | Research and Development | General and Administrative | Restructuring and Impairment |
|---|---|---|---|---|
Jun 30, 2026 | $216.80M | $273.32M | $118.43M | $32.77M |
Mar 31, 2026 | $211.87M | $262.17M | $102.55M | $0.00 |
Dec 31, 2025 | $221.85M | $269.39M | $109.27M | $5.05M |
Sep 30, 2025 | $220.63M | $262.31M | $108.19M | $0.00 |
Jun 30, 2025 | $220.72M | $243.50M | $101.53M | $0.00 |
Mar 31, 2025 | $212.11M | $254.29M | $92.08M | $11.69M |
Dec 31, 2024 | $216.67M | $252.58M | $116.78M | -$57.00K |
Sep 30, 2024 | $212.58M | $260.90M | $106.35M | $3.69M |
Jun 30, 2024 | $217.56M | $243.65M | $113.98M | -$310.00K |
Mar 31, 2024 | $214.02M | $251.62M | $111.97M | $9.95M |