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Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Preferred Stock
As of December 31, 2024 and 2023, the Company had authorized 100,000,000 shares of preferred stock, par value $0.001, of which no shares were issued and outstanding.
Common Stock
As of December 31, 2024 and 2023, the Company had authorized 1,000,000,000 shares of Class A common stock and 3,170,181 shares of Class B common stock, each par value of $0.001 per share. As of December 31, 2024 and 2023, 152,610,697 and 181,945,771 shares of Class A common stock, respectively, and no shares of Class B common stock were issued and outstanding.
The Company had reserved shares of common stock for issuance as follows:
As of December 31,
20242023
Stock options issued and outstanding1,322,176 1,722,861 
Unvested restricted stock units issued and outstanding18,386,271 18,755,538 
Shares of Class A common stock reserved for Twilio.org353,633 442,041 
Stock-based awards available for grant under 2016 Plan23,292,678 19,869,260 
Shares of Class A common stock reserved for issuance pursuant to ESPP9,709,326 8,541,701 
Total53,064,084 49,331,401 
Share Repurchase Programs
In February 2023, the board of directors of the Company authorized the repurchase of up to $1.0 billion in aggregate value of the Company’s outstanding Class A common stock, and in March 2024, the board of directors authorized the repurchase of an additional $2.0 billion in aggregate value of the Company’s outstanding Class A common stock. Repurchases under this program could be made through open market, private transactions or other means, in compliance with applicable federal securities laws, and could include repurchases pursuant to Rule 10b5-1 trading plans. The Company had discretion in determining the conditions under which shares may be repurchased from time to time. This repurchase program expired on December 31, 2024.
During the years ended December 31, 2024 and 2023, the Company repurchased 36.8 million shares and 11.3 million shares of its Class A common stock, respectively, for an aggregate purchase price of $2.3 billion and $672.1 million, respectively. As of December 31, 2024, the Company completed repurchases of $3.0 billion in aggregate value of its Class A common stock, as originally authorized.
In January 2025, the board of directors of the Company authorized a new share repurchase program to repurchase up to $2.0 billion in aggregate value of the Company’s outstanding Class A common stock with the repurchase terms similar to the previous program. The new program expires on December 31, 2027.