Net Income (Loss) Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of the calculation of basic and diluted net loss per share attributable to common stockholders

The following table sets forth the calculation of basic and diluted net income (loss) per share attributable to common stockholders during the periods presented:


	Three Months Ended March 31,
	2025		2024
Numerator:
Net income (loss) attributable to common stockholders (in thousands)	$	20,017	$	(55,349)
Denominator:
Weighted-average shares outstanding, basic	153,345,192		181,017,726
Dilutive effect of outstanding stock options, RSUs and stock committed under ESPP	8,449,095		—
Weighted-average shares outstanding, diluted	161,794,287		181,017,726
Net income (loss) per share attributable to common stockholders:
Basic	$	0.13	$	(0.31)
Diluted	$	0.12	$	(0.31)

Schedule of common stock equivalents excluded from the calculation of the diluted net loss per share attributable to common stockholders

The following outstanding shares of common stock equivalents were excluded from the calculation of the diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive:


	As of March 31,
	2025	2024
Stock options issued and outstanding	145,350	1,584,426
Unvested restricted stock units issued and outstanding(1)	1,384,775	16,173,773
Shares of Class A common stock reserved for Twilio.org	—	419,939
Shares of Class A common stock committed under ESPP	—	396,611

Shares of Class A common stock in escrow subject to future vesting	—	3,771
Total	1,530,125	18,578,520

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(1) A portion of these unvested restricted stock units are PSUs. The number of PSUs that will ultimately vest may increase or decrease the number of shares that will be issued at the end of the performance period.