0001447669-22-000049 | 10-K | XBRL Viewer

Print Document View Excel Document

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,479,452	$ 933,885
Short-term marketable securities	3,878,430	2,105,906
Accounts receivable, net	388,215	251,167
Prepaid expenses and other current assets	186,131	81,377
Total current assets	5,932,228	3,372,335
Property and equipment, net	255,316	183,239
Operating right-of-use assets	234,584	258,610
Intangible assets, net	1,050,012	966,573
Goodwill	5,263,166	4,595,394
Other long-term assets	263,292	111,282
Total assets	12,998,598	9,487,433
Current liabilities:
Accounts payable	93,333	60,042
Accrued expenses and other current liabilities	417,503	252,895
Deferred revenue and customer deposits	140,389	87,031
Operating lease liability, current	52,325	48,338
Total current liabilities	703,550	448,306
Operating lease liability, noncurrent	211,253	229,905
Finance lease liability, noncurrent	25,132	17,856
Long-term debt	985,907	302,068
Other long-term liabilities	41,290	36,633
Total liabilities	1,967,132	1,034,768
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.001 par value, 100,000,000 shares authorized, none issued	0	0
Authorized shares 1,100,000,000 as of December 31, 2021 and 2020; Issued and outstanding shares 180,468,099 and 164,047,524 as of December 31, 2021 and 2020	180	164
Additional paid-in capital	13,169,118	9,613,246
Accumulated other comprehensive (loss) income	(18,141)	9,046
Accumulated deficit	(2,119,691)	(1,169,791)
Total stockholders’ equity	11,031,466	8,452,665
Total liabilities and stockholders’ equity	$ 12,998,598	$ 9,487,433

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	May 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,100,000,000	1,100,000,000
Common stock, issued (in shares)	180,468,099	164,047,524
Common stock, outstanding (in shares)	180,468,099	164,047,524
Common Stock Class A
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	170,625,994	153,496,222
Common stock, outstanding (in shares)	170,625,994	153,496,222
Common Stock Class B
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	9,842,105	10,551,302
Common stock, outstanding (in shares)	9,842,105	10,551,302

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 2,841,839	$ 1,761,776	$ 1,134,468
Cost of revenue	1,451,126	846,115	525,551
Gross profit	1,390,713	915,661	608,917
Operating expenses:
Research and development	789,219	530,548	391,355
Sales and marketing	1,044,618	567,407	369,079
General and administrative	472,460	310,607	218,268
Total operating expenses	2,306,297	1,408,562	978,702
Loss from operations	(915,584)	(492,901)	(369,785)
Other (expenses) income, net	(45,345)	(11,525)	7,569
Loss before benefit for income taxes	(960,929)	(504,426)	(362,216)
Benefit for income taxes	11,029	13,447	55,153
Net loss attributable to common stockholders	$ (949,900)	$ (490,979)	$ (307,063)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (5.45)	$ (3.35)	$ (2.36)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (5.45)	$ (3.35)	$ (2.36)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in shares)	174,180,465	146,708,663	130,083,046
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in shares)	174,180,465	146,708,663	130,083,046

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (949,900)	$ (490,979)	$ (307,063)
Other comprehensive (loss) income:
Unrealized (loss) gain on marketable securities	(27,215)	3,674	3,804
Foreign currency translation	(266)	286	0
Net change in market value of effective foreign currency forward exchange contracts	294	0	0
Total other comprehensive (loss) income	(27,187)	3,960	3,804
Comprehensive loss attributable to common stockholders	$ (977,087)	$ (487,019)	$ (303,259)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Consolidated Statements of Stockholders Equity - USD ($) $ in Thousands	Total	Common Stock Common Stock Class A	Common Stock Common Stock Class B	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Balance (in shares) at Dec. 31, 2018		80,769,763	19,310,465
Balance at Dec. 31, 2018	$ 438,235	$ 80	$ 20	$ 808,527	$ 1,282	$ (371,674)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(307,063)					(307,063)
Exercises of vested stock options (in shares)		1,466,813	2,154,053
Exercises of stock options	37,763	$ 1	$ 2	37,760
Recapitalization of a subsidiary	0			75		(75)
Vesting of restricted stock units (in shares)		2,775,788	117,331
Vesting of restricted stock units	3	$ 2	$ 1
Value of equity awards withheld for tax liability (in shares)		(23,543)	(22,095)
Value of equity awards withheld for tax liability	(5,412)			(5,412)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		10,029,127	(10,029,127)
Conversion of shares of Class B common stock into shares of Class A common stock		$ 9	$ (9)
Shares of Class A common stock issued under ESPP (in shares)		244,628
Shares of Class A common stock issued under ESPP	19,738			19,738
Issuance of common stock in connection with a follow-on public offering, net of underwriter discounts and issuance costs (in shares)		8,064,515
Issuance of shares of Class A common stock in connection with a follow-on public offering, net of underwriters' discounts and issuance costs	979,047	$ 8		979,039
Shares issued in acquisition (in shares)		23,555,081
Shares of Class A common stock issued in acquisition	2,658,898	$ 24		2,658,874
Value of equity awards assumed in acquisition	182,554			182,554
Unrealized (loss) gain on marketable securities	3,804				3,804
Foreign currency translation	0
Net change in market value of effective foreign currency forward exchange contracts	0
Stock-based compensation	271,844			271,844
Balance (in shares) at Dec. 31, 2019		126,882,172	11,530,627
Balance at Dec. 31, 2019	4,279,411	$ 124	$ 14	4,952,999	5,086	(678,812)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(490,979)					(490,979)
Exercises of vested stock options (in shares)		2,263,629	1,232,099
Exercises of stock options	72,517	$ 2	$ 1	72,514
Vesting of restricted stock units (in shares)		3,525,401	29,007
Vesting of restricted stock units	4	$ 4
Value of equity awards withheld for tax liability (in shares)		(34,893)	(4,692)
Value of equity awards withheld for tax liability	(8,778)			(8,778)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		2,235,739	(2,235,739)
Conversion of shares of Class B common stock into shares of Class A common stock		$ 2	$ (2)
Equity component from partial settlement and redemption of convertible senior notes due 2023 (in shares)		2,902,434
Equity component from partial settlement of convertible senior notes due 2023	190,760	$ 3		190,757
Shares of Class A common stock issued under ESPP (in shares)		291,800
Shares of Class A common stock issued under ESPP	32,243	$ 1		32,242
Shares of Class A common stock donated to charity (in shares)		88,408
Shares of Class A common stock donated to charity	18,993			18,993
Issuance of common stock in connection with a follow-on public offering, net of underwriter discounts and issuance costs (in shares)		5,819,838
Issuance of shares of Class A common stock in connection with a follow-on public offering, net of underwriters' discounts and issuance costs	1,408,169	$ 6		1,408,163
Shares issued in acquisition (in shares)		9,263,140
Shares of Class A common stock issued in acquisition	2,532,356	$ 9		2,532,347
Value of equity awards assumed in acquisition	38,972			38,972
Shares subject to future vesting conditions (in shares)		258,554
Unrealized (loss) gain on marketable securities	3,674				3,674
Foreign currency translation	286				286
Net change in market value of effective foreign currency forward exchange contracts	0
Stock-based compensation	375,037			375,037
Balance (in shares) at Dec. 31, 2020		153,496,222	10,551,302
Balance at Dec. 31, 2020	8,452,665	$ 151	$ 13	9,613,246	9,046	(1,169,791)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(949,900)					(949,900)
Exercises of vested stock options (in shares)		1,779,320	509,499
Exercises of stock options	87,695	$ 2		87,693
Vesting of restricted stock units (in shares)		3,515,913
Vesting of restricted stock units		$ 4		(4)
Value of equity awards withheld for tax liability (in shares)		(32,002)
Value of equity awards withheld for tax liability	(10,388)			(10,388)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		1,218,696	(1,218,696)
Conversion of shares of Class B common stock into shares of Class A common stock		$ 1	$ (1)
Equity component from partial settlement and redemption of convertible senior notes due 2023 (in shares)		4,846,965
Equity component from partial settlement of convertible senior notes due 2023	335,642	$ 5		335,637
Settlement of capped call, net of related costs	225,233			225,233
Shares of Class A common stock issued under ESPP (in shares)		198,926
Shares of Class A common stock issued under ESPP	48,465			48,465
Shares of Class A common stock donated to charity (in shares)		88,408
Shares of Class A common stock donated to charity	31,169			31,169
Issuance of common stock in connection with a follow-on public offering, net of underwriter discounts and issuance costs (in shares)		4,312,500
Issuance of shares of Class A common stock in connection with a follow-on public offering, net of underwriters' discounts and issuance costs	1,765,713	$ 4		1,765,709
Shares issued in acquisition (in shares)		1,116,816
Shares of Class A common stock issued in acquisition	419,170	$ 1		419,169
Value of equity awards assumed in acquisition	1,511			1,511
Shares subject to future vesting conditions (in shares)		84,230
Unrealized (loss) gain on marketable securities	(27,215)				(27,215)
Foreign currency translation	(266)				(266)
Net change in market value of effective foreign currency forward exchange contracts	294				294
Stock-based compensation	651,678			651,678
Balance (in shares) at Dec. 31, 2021		170,625,994	9,842,105
Balance at Dec. 31, 2021	$ 11,031,466	$ 168	$ 12	$ 13,169,118	$ (18,141)	$ (2,119,691)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (949,900)	$ (490,979)	$ (307,063)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	258,378	149,660	110,430
Non-cash reduction to the right-of-use asset	48,786	38,395	23,193
Net amortization of investment premium and discount	36,158	6,789	(4,501)
Impairment of operating right-of-use assets	8,854	0	0
Amortization of debt discount and issuance costs	5,827	23,759	23,696
Stock-based compensation	632,285	360,936	264,318
Amortization of deferred commissions	31,541	13,322	4,511
Tax benefit related to release of valuation allowance	(17,236)	(16,459)	(55,745)
Value of shares of Class A common stock donated to charity	31,169	18,993	0
Loss on extinguishment of debt	28,965	12,863	0
Other adjustments	12,094	12,762	3,165
Changes in operating assets and liabilities:
Accounts receivable	(117,943)	(81,303)	(51,357)
Prepaid expenses and other current assets	(78,012)	(11,636)	(20,316)
Other long-term assets	(121,225)	(81,908)	(18,021)
Accounts payable	10,191	10,060	17,255
Accrued expenses and other current liabilities	127,554	88,340	46,154
Deferred revenue and customer deposits	45,634	13,824	2,968
Operating lease liabilities	(49,046)	(33,938)	(21,138)
Other long-term liabilities	(2,266)	(826)	(3,501)
Net cash (used in) provided by operating activities	(58,192)	32,654	14,048
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired and other related payments	(491,522)	(333,591)	122,749
Purchases of marketable securities and other investments	(3,523,232)	(1,636,590)	(2,038,422)
Proceeds from sales and maturities of marketable securities	1,614,779	1,183,459	697,171
Capitalized software development costs	(43,973)	(33,328)	(21,922)
Purchases of long-lived and intangible assets	(46,048)	(25,805)	(45,368)
Net cash used in investing activities	(2,489,996)	(845,855)	(1,285,792)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offerings, net of underwriters' discount and issuance costs	1,765,713	1,408,113	979,123
Proceeds from issuance of senior notes due 2029 and 2031	987,500	0	0
Payment of debt issuance costs	(2,777)	0	0
Principal payments on debt and finance leases	(8,295)	(10,784)	(11,046)
Proceeds from exercises of stock options and shares of Class A common stock issued under ESPP	136,160	104,760	57,480
Proceeds from settlements of capped call, net of settlement costs	228,412	0	0
Value of equity awards withheld for tax liabilities	(10,388)	(8,778)	(5,412)
Net cash provided by financing activities	3,096,325	1,493,311	1,020,145
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(191)	40	0
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	547,946	680,150	(251,599)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period	933,885	253,735	505,334
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period	1,481,831	933,885	253,735
Supplemental Cash Flow Information [Abstract]
Cash paid for income taxes, net	6,147	3,092	1,368
Cash paid for interest	20,637	2,139	2,290
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Purchases of property and equipment through finance leases	22,157	20,108	5,848
Value of common stock issued and equity awards assumed in acquisition	420,681	2,571,328	2,841,452
Value of common stock issued to settle convertible senior notes due 2023	1,704,969	892,640	0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents	1,479,452	933,885	253,735
Restricted cash in other current assets	1,536	0	0
Restricted cash in other long-term assets	843	0	0
Total cash, cash equivalents and restricted cash	$ 1,481,831	$ 933,885	$ 253,735

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Twilio Inc. (the “Company”) was incorporated in the state of Delaware on March 13, 2008. The Company is the leading cloud communications platform and enables developers to build, scale and operate real-time customer engagement within their software applications via simple-to-use Application Programming Interfaces (“API”). The power, flexibility, and reliability offered by the Company’s software building blocks empower entities of virtually every shape and size to build world-class engagement into their customer experience. The Company’s headquarters are located in San Francisco, California, and the Company has subsidiaries across North America, South America, Europe, Asia and Australia.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(a)Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

(b)Principles of Consolidation

The consolidated financial statements include the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated.

(c)Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are used for, but not limited to, revenue allowances and sales credit reserves; recoverability of long-lived and intangible assets; capitalization and useful life of the Company’s capitalized internal-use software development costs; fair value of acquired intangible assets and goodwill; accruals and contingencies. Estimates are based on historical experience and on various assumptions that the Company believes are reasonable under current circumstances. However, future events are subject to change and best estimates and judgments may require further adjustments, therefore, actual results could differ materially from those estimates. Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation.

(d)Concentration of Credit Risk

Financial instruments that potentially expose the Company to a concentration of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities and accounts receivable. The Company maintains cash, restricted cash, cash equivalents and marketable securities with financial institutions that management believes are financially sound and have minimal credit risk exposure although the balances will exceed insured limits.

The Company sells its services to a wide variety of customers. If the financial condition or results of operations of any significant customer deteriorates substantially, operating results could be adversely affected. To reduce credit risk, management performs credit evaluations of the financial condition of significant customers. The Company does not require collateral from its credit customers and maintains reserves for estimated credit losses on customer accounts when considered necessary. Actual credit losses may differ from the Company’s estimates. During the years ended December 31, 2021, 2020 and 2019, no customer organization accounted for more than 10% of the Company’s total revenue.

As of December 31, 2021 and 2020, no customer organization represented more than 10% of the Company’s gross accounts receivable.

(e)Revenue Recognition

Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for credits and any taxes collected from customers, which are subsequently remitted to governmental authorities.

The Company determines revenue recognition through the following steps:

•Identification of the contract, or contracts, with a customer;

•Identification of the performance obligations in the contract;

•Determination of the transaction price;

•Allocation of the transaction price to the performance obligations in the contract; and,

•Recognition of revenue when, or as, the Company satisfies a performance obligation.

Nature of Products and Services

The Company's revenue is primarily derived from usage-based fees earned from customers accessing the Company's enterprise cloud computing services. Platform access is considered a monthly series comprising of one performance obligation and usage-based fees are recognized as revenue in the period in which the usage occurs. In the years ended December 31, 2021, 2020 and 2019, the revenue from usage-based fees represented 72%, 76% and 75% of total revenue, respectively.

Subscription-based fees are derived from certain non-usage-based contracts, such as those for the sales of short codes, customer support and fees charged to access the cloud-based platform of Segment io, Inc. (“Segment”), which the Company acquired in 2020 as further described in Note 7. Non-usage-based contracts revenue is recognized on a ratable basis over the contractual term which is generally between one to three years. In the years ended December 31, 2021, 2020 and 2019, the revenue from non-usage-based fees represented 28%, 24%, and 25% of total revenue, respectively.

No significant judgments are required in determining whether products and services are considered distinct performance obligations and should be accounted for separately versus together, or to determine the stand-alone selling price (“SSP”).

The Company's arrangements do not contain general rights of return. However, credits may be issued on a case-by-case basis. The contracts do not provide customers with the right to take possession of the software supporting the applications. Amounts that have been invoiced are recorded in accounts receivable and in revenue or deferred revenue depending on whether the revenue recognition criteria have been met.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents unearned revenue and amounts that were and will be invoiced and recognized as revenue in future periods for non-cancelable multi-year subscription arrangements. The Company applies the optional exemption of not disclosing the transaction price allocated to the remaining performance obligations for its usage-based contracts and contracts with original duration of one year or less. Revenue allocated to remaining performance obligations for contracts with durations of more than one year was $154.2 million as of December 31, 2021, of which 62% is expected to be recognized over the next 12 months and 92% is expected to be recognized over the next 24 months.

(f)Deferred Revenue and Customer Deposits

Deferred revenue is recorded when a non-cancellable contractual right to bill exists or when cash payments are received in advance of future usage on non-cancelable contracts. Customer refundable prepayments are recorded as customer deposits. As of December 31, 2021 and 2020, the Company recorded $141.5 million and $87.2 million as its deferred revenue and customer deposits, respectively, that are included in deferred revenue and customer deposits and other long-term liabilities in the accompanying consolidated balance sheets. During the years ended December 31, 2021, 2020 and 2019, the Company recognized $70.1 million, $19.5 million and $18.7 million of revenue, respectively, that was included in the deferred revenue and customer deposits balance as of the end of the previous year.

(g)Deferred Sales Commissions

The Company records an asset for the incremental costs of obtaining a contract with a customer, for example, sales commissions that are earned upon execution of contracts. The Company uses the portfolio of data method to determine the estimated period of benefit of capitalized commissions which is generally determined to be up to five years. Amortization expense related to these capitalized costs related to initial contracts, upsells and renewals, is recognized on a straight line basis over the estimated period of benefit of the capitalized commissions. The Company applies the optional exemption of expensing these costs as incurred with amortization periods of one year or less.

Total net capitalized costs as of December 31, 2021 and 2020, were $193.4 million and $85.6 million, respectively, and are included in prepaid expenses and other current assets and other long‑term assets in the accompanying consolidated balance sheets. Amortization of these assets was $31.5 million, $13.3 million and $4.5 million in the years ended December 31, 2021, 2020 and 2019, respectively, and is included in sales and marketing expense in the accompanying consolidated statements of operations.

(h)Cost of Revenue

Cost of revenue consists primarily of costs of communications services purchased from network service providers. Cost of revenue also includes fees to support the Company's cloud infrastructure, direct costs of personnel, such as salaries and stock-based compensation for the customer care and support services employees, and non-personnel costs, such as amortization of capitalized internal-use software development costs and amortization of acquired intangibles.

(i)Research and Development Expense

Research and development expenses consist primarily of personnel costs, cloud infrastructure fees for staging and development, outsourced engineering services, amortization of capitalized internal-use software development costs and an allocation of general overhead expenses. The Company capitalizes the portion of its software development costs that meets the criteria for capitalization.

(j)Internal-Use Software Development Costs

Certain costs of platform and other software applications developed for internal use are capitalized. The Company capitalizes qualifying internal-use software development costs that are incurred during the application development stage. Capitalization of costs begins when two criteria are met: (i) the preliminary project stage is completed and (ii) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Costs incurred for maintenance, minor upgrades and enhancements are expensed. Costs related to preliminary project activities and post-implementation operating activities are also expensed as incurred.

Capitalized costs of platform and other software applications are included in property and equipment. These costs are amortized over the estimated useful life of the software on a straight-line basis over three years. Management evaluates the useful life of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. The amortization of costs related to the platform applications is included in cost of revenue, while the amortization of costs related to other software applications developed for internal use is included in operating expenses.

(k)Advertising Costs

Advertising costs are expensed as incurred and were $78.8 million, $47.2 million and $27.0 million in the years ended December 31, 2021, 2020 and 2019, respectively. Advertising costs are included in sales and marketing expenses in the accompanying consolidated statements of operations.

(l)Stock-Based Compensation

All stock-based compensation to employees, including the purchase rights issued under the Company's 2016 Employee Stock Purchase Plan (the “ESPP”), is measured on the grant date based on the fair value of the awards on the date of grant. These costs are recognized as an expense following straight-line attribution method over the requisite service period. The Company uses the Black-Scholes option pricing model to measure the fair value of its stock options and the purchase rights

issued under the ESPP. The fair value of the restricted stock units is determined using the fair value of the Company's Class A common stock on the date of grant and recognized as an expense following straight-line attribution method over the requisite service period. Forfeitures are recorded in the period in which they occur.

Compensation expense for stock options granted to nonemployees is calculated using the Black-Scholes option pricing model and is recognized in expense over the service period.

The Black-Scholes option pricing model requires the use of complex assumptions, which determine the fair value of stock options and the purchase rights issued under ESPP. These assumptions include:

•Fair value of the common stock. The Company uses the market closing price of its Class A common stock, as reported on the New York Stock Exchange, for the fair value.

•Expected term. The expected term represents the period that the stock option or the purchase right is expected to be outstanding. The Company uses the simplified calculation of expected term, which reflects the weighted-average time-to-vest and the contractual life of the stock option or the purchase right;

•Expected volatility. Prior to July 1, 2021, the expected volatility was derived from an average of the historical volatilities of the Class A common stock of the Company and several other entities with characteristics similar to those of the Company, such as the size and operational and economic similarities to the Company's principal business operations. Beginning with the third quarter 2021, the expected volatility was derived from the average of the historical volatilities of the Class A common stock of the Company.

•Risk -free interest rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the expected term of the stock-based awards; and

•Expected dividend. The expected dividend is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock.

If any of the assumptions used in the Black-Scholes model changes, stock-based compensation for future options may differ materially compared to that associated with previous grants.

Income Taxes

The Company accounts for income taxes in accordance with authoritative guidance which requires the use of the asset and liability approach. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carry-forwards. Deferred tax amounts are determined by using the enacted tax rates expected to be in effect when the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance reduces the deferred tax assets to the amount that is more likely than not to be realized.

The Company recognizes the effect of uncertain income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

The Company records interest and penalties related to uncertain tax positions in the provision for income taxes in the consolidated statements of operations.

(m)Foreign Currency Translation

The functional currency of the Company's foreign subsidiaries is generally the U.S. dollar. Accordingly, the subsidiaries remeasure monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates. Revenue and expense accounts are remeasured at the average exchange rate in effect during the year. Remeasurement adjustments are recognized in the consolidated statements of operations as other income or expense in the year of occurrence. Foreign currency transaction gains and losses were insignificant for all periods presented.

For those entities where the functional currency is a foreign currency, adjustments resulting from translating the financial statements into U.S. dollars are recorded as a component of accumulated other comprehensive (loss) income in stockholders' equity. Monetary assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates during the period. Equity transactions are translated using historical exchange rates. Foreign currency transaction gains and losses are included in other (expenses) income, net in the consolidated statements of operations.

(n)Comprehensive Loss

Comprehensive loss refers to net loss and other revenue, expenses, gains and losses that, under generally accepted accounting principles, are recorded as an element of stockholders' equity but are excluded from the calculation of net loss.

(o)Net Loss Per Share Attributable to Common Stockholders

The Company calculates its basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for companies with participating securities. The Company has 100,000,000 shares of preferred stock that was authorized but never issued or outstanding.

Class A and Class B common stock are the only outstanding equity of the Company. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 10 votes per share. Shares of Class B common stock may be converted into Class A common stock at any time at the option of the stockholder on a one-for-one basis, and are automatically converted into Class A common stock upon sale or transfer, subject to certain limited exceptions. Shares of Class A common stock are not convertible.

The Company also has dilutive securities, such as potential or restricted common shares or common stock equivalents, that were excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is antidilutive. These securities are presented in Note 16 to these consolidated financial statements.

(p)Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents consist of cash deposited into money market funds and commercial paper. All credit and debit card transactions that process as of the last day of each month and settle within the first few days of the subsequent month are also classified as cash and cash equivalents as of the end of the month in which they were processed.

(q)Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are recorded net of the allowance for doubtful accounts. The allowance for doubtful accounts is estimated based on the Company's assessment of its ability to collect on customer accounts receivable. The Company regularly reviews the allowance by considering certain factors such as historical experience, credit quality, age of accounts receivable balances and other known conditions that may affect a customer's ability to pay. In cases where the Company is aware of circumstances that may impair a specific customer's ability to meet their financial obligations, a specific allowance is recorded against amounts due from the customer which reduces the net recognized receivable to the amount the Company reasonably believe will be collected. The Company writes-off accounts receivable against the allowance when a determination is made that the balance is uncollectible and collection of the receivable is no longer being actively pursued. As of December 31, 2021 and 2020, the allowance for doubtful accounts was not significant to the accompanying consolidated balance sheets.

(r)Costs Related to Public Offerings

Costs related to public offerings, which consist of direct incremental legal, printing and accounting fees are deferred until the offering is completed. Upon completion of the offering, these costs are offset against the offering proceeds within the consolidated statements of stockholders' equity.

(s)Property and Equipment

Property and equipment, both owned and under finance leases, is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful life of the related asset. Maintenance and repairs are charged to expenses as incurred.

The useful lives of property and equipment are as follows:


Capitalized internal-use software development costs						3 years
Data center equipment						2 - 4 years
Office equipment						3 years
Furniture and fixtures						5 years
Software						3 years
Assets under financing lease						5 years or remaining lease term
Leasehold improvements						5 years or remaining lease term

(t)Leases

The Company determines if an arrangement is or contains a lease at contract inception. The Company presents the operating leases in long-term assets and current and long-term liabilities. Finance lease assets are included in property and equipment, net, and finance lease liabilities are presented in current and long-term liabilities in the accompanying consolidated balance sheets.

Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are measured and recognized at the lease commencement date based on the present value of the remaining lease payments over the lease term. As the Company’s leases do not generally provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s lease agreements may have lease and non-lease components, which the Company accounts for as a single lease component. When estimating the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain such options will be exercised. Operating lease costs are recognized in operating expenses in the accompanying consolidated statements of operations on a straight-line basis over the lease term and variable payments are recognized in the period they are incurred. The Company’s lease agreements do not contain any residual value guarantees. Leases with an initial term of 12 months or less are not recorded on the balance sheet.

Within the consolidated statements of cash flows, the Company presents the lease payments made on the operating leases as cash flows from operations and principal payments made on the finance leases as part of financing activities.

(u)Intangible Assets

Intangible assets recorded by the Company are costs directly associated with securing legal registration of patents and trademarks, acquiring domain names and the fair value of identifiable intangible assets acquired in business combinations.

Intangible assets with determinable economic lives are carried at cost, less accumulated amortization. Amortization is computed over the estimated useful life of each asset on a straight-line basis. The Company determines the useful lives of identifiable intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors the Company considers when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, the Company's long-term strategy for using the asset, any laws or other local regulations which could impact the useful life of the asset and other economic factors, including competition and specific market conditions. Intangible assets without determinable economic lives are carried at cost, not amortized and reviewed for impairment at least annually.

The useful lives of the intangible assets are as follows:


Developed technology						3 - 7 years
Customer relationships						2 - 10 years
Supplier relationships						2 - 5 years
Trade names						5 years
Order backlog						1 year
Patents						20 years
Telecommunication licenses						Indefinite
Trademarks						Indefinite
Domain names						Indefinite

(v)Goodwill

Goodwill represents the excess of the aggregate purchase price over the fair value of net identifiable assets acquired in a business combination. Goodwill is not amortized and is tested for impairment at least annually or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company has determined that it operates as one reporting unit and has selected November 30 as the date to perform its annual impairment test. In the valuation of goodwill, management must make assumptions regarding estimated future cash flows to be derived from the Company's business. If these estimates or their related assumptions change in the future, the Company may be required to record impairment for these assets.

The Company has the option to first perform a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. However, the Company may elect to bypass the qualitative assessment and proceed directly to the quantitative impairment tests. The impairment test involves comparing the fair value of the reporting unit to its carrying value, including goodwill. A goodwill impairment will be the amount by which a reporting unit’s carrying value exceeds its fair value. The impairment is limited to the carrying amount of goodwill.

No goodwill impairment charges have been recorded for any period presented.

(w)Derivatives and Hedging

The Company is exposed to a wide variety of risks arising from its business operations and overall economic conditions. These risks include exposure to fluctuations in various foreign currencies against its functional currency and can impact the value of cash receipts and payments. The Company minimizes its exposure to these risks through management of its core business activities, specifically, the amounts, sources and duration of its assets and liabilities, and the use of derivative financial instruments. During 2021, the Company started using foreign currency derivative forward contracts and in the future may also use foreign currency option contacts.

Foreign currency derivative forward contracts involve fixing the exchange rate for delivery of a specified amount of foreign currency on a specified date. These agreements are typically cash settled in U.S. dollars for their fair value at or close to their settlement date. Foreign currency option contracts will require the Company to pay a premium for the right to sell a specified amount of foreign currency prior to the maturity date of the option. The Company does not enter into derivative financial instruments trading for speculative purposes.

Derivative instruments are carried at fair value and recorded as either an asset or a liability until they mature. Gains and losses resulting from changes in fair value of these instruments are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. For derivative instruments designated as cash flow hedges, gains or losses are initially recorded in other comprehensive income (“OCI”) in the balance sheet, then reclassified into the statement of operations in the period in which the derivative instruments mature. These realized gains and losses are recorded within the same financial statement line item as the hedged transaction.

The Company’s foreign currency derivative contracts are classified within Level 2 of the fair value hierarchy because the valuation inputs are based on quoted prices and market observable data of similar instruments in active markets, such as currency spot and forward rates.

(x)Impairment of Long-Lived Assets

The Company evaluates its long-lived assets, including property, equipment and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If such evaluation indicates that the carrying amount of the asset or the asset group is not recoverable, any impairment loss would be equal to the amount the carrying value exceeds the fair value. There were no impairments during the years ended December 31, 2021, 2020 and 2019.

(y)Business Combinations

The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair values. Goodwill is measured as the excess of the consideration transferred over the fair value of assets acquired and liabilities assumed on the acquisition date. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed, these estimates are inherently uncertain and subject to refinement. The authoritative guidance allows a measurement period of up to one year from the date of acquisition to make adjustments to the preliminary allocation of the purchase price. As a result, during the measurement period the Company may record adjustments to the fair values of assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that it identifies adjustments to the preliminary purchase price allocation. Upon conclusion of the measurement period or final determination of the values of the assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments will be recorded to the consolidated statement of operations.

(z)Segment Information

The Company's Chief Executive Officer is the chief operating decision maker, who reviews the Company's financial information presented on a consolidated basis for purposes of allocating resources and evaluating the Company's financial performance. Accordingly, the Company has determined that it operates in a single reporting segment.

(aa)Fair Value of Financial Instruments

The accounting guidance for fair value provides a framework for measuring fair value, clarifies the definition of fair value, and expands disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

•Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

•Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The Company applies fair value accounting for all financial instruments on a recurring basis. The Company's financial instruments, which include cash, restricted cash, cash equivalents, accounts receivable and accounts payable are recorded at their carrying amounts, which approximate their fair values due to their short-term nature. Marketable securities consist of U.S. treasury securities, non-U.S government securities, high credit quality corporate debt securities and commercial paper. All marketable securities are considered to be available-for-sale and recorded at their estimated fair values. Unrealized gains and

losses for available-for-sale securities are recorded in other comprehensive loss. In valuing these items, the Company uses inputs and assumptions that market participants would use to determine their fair value, utilizing valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair value of the senior notes due 2031 and 2029 (“2029 Notes” and “2031 Notes,” respectively) and the fair value of the convertible senior notes due 2023 (the “Convertible Notes” fully redeemed in 2021) are determined based on their respective closing prices on the last trading day of the reporting period and are classified as Level 2 in the fair value hierarchy.

The carrying value of the strategic investments, which consist of restricted equity securities of a publicly held company and equity securities of privately held companies, is determined under the measurement alternative on a non-recurring basis adjusting for observable changes in fair value. The Company does not have a controlling interest nor can it exercise significant influence over any of these entities.

The Company regularly reviews changes to the rating of its debt securities by rating agencies and monitors the surrounding economic conditions to assess the risk of expected credit losses. As of December 31, 2021, the risk of expected credit losses was not significant.

Impairments are considered to be other than temporary if they are related to deterioration in credit risk or if it is likely that the security will be sold before the recovery of its cost basis. Realized gains and losses and declines in value deemed to be other than temporary are determined based on the specific identification method and are reported in other (expenses) income, net.

(ab)Recently Issued Accounting Guidance, Not yet Adopted

In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, "Revenue from Contracts with Customers". At the acquisition date, an acquirer should account for the related revenue contracts as if it had originated the contracts. Generally, this should result in an acquirer recognizing and measuring the acquired contact assets and contract liabilities consistent with how they were recognized and measured in the acquiree's financial statements, assuming the acquirer is able to assess and rely on how the acquiree applied ASC 606. ASU 2021-08 is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. The Company expects to adopt ASU 2021-08 in the first quarter of 2022 with no material impact on the Company's consolidated financial statements.

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

Financial Assets

The following tables provide the financial assets measured at fair value on a recurring basis:


	Amortized Cost or Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value Hierarchy as of December 31, 2021						Aggregate Fair Value
							Level 1	Level 2		Level 3
Financial Assets:	(In thousands)
Cash and cash equivalents:
Money market funds	$	786,548	$	—	$	—		$	786,548	$	—	$	—	$	786,548

Commercial paper	46,076		—		—			—		46,076		—		46,076
Total included in cash and cash equivalents	832,624		—		—			786,548		46,076		—		832,624
Marketable securities:
U.S. Treasury securities	375,305		6		(2,561)			372,750		—		—		372,750
Non-U.S. government securities	221,641		—		(1,355)			220,286		—		—		220,286
Corporate debt securities and commercial paper	3,300,326		960		(15,892)			31,000		3,254,394		—		3,285,394
Total marketable securities	3,897,272		966		(19,808)			624,036		3,254,394		—		3,878,430

Total financial assets	$	4,729,896	$	966	$	(19,808)		$	1,410,584	$	3,300,470	$	—	$	4,711,054


	Amortized Cost or Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value Hierarchy as of December 31, 2020						Aggregate Fair Value
							Level 1	Level 2		Level 3
Financial Assets:	(In thousands)
Cash and cash equivalents:
Money market funds	$	656,749	$	—	$	—		$	656,749	$	—	$	—	$	656,749
Commercial paper	2,000		—		—			—		2,000		—		2,000
Total included in cash and cash equivalents	658,749		—		—			656,749		2,000		—		658,749
Marketable securities:
U.S. Treasury securities	223,247		389		(1)			223,635		—		—		223,635
Corporate debt securities and commercial paper	1,874,257		8,149		(135)			50,000		1,832,271		—		1,882,271
Total marketable securities	2,097,504		8,538		(136)			273,635		1,832,271		—		2,105,906
Total financial assets	$	2,756,253	$	8,538	$	(136)		$	930,384	$	1,834,271	$	—	$	2,764,655

The Company's primary objective when investing excess cash is preservation of capital, hence the Company's marketable securities primarily consist of U.S. Treasury Securities, non-U.S government securities, high credit quality corporate debt securities and commercial paper. As the Company views its marketable securities as available to support current operations, it has classified all available for sale securities as short-term. As of December 31, 2021 and 2020, for fixed income securities that were in unrealized loss positions, the Company has determined that (i) it does not have the intent to sell any of these investments, and (ii) it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of December 31, 2021 and 2020, the Company anticipates that it will recover the entire amortized cost basis of such fixed income securities before maturity.

Interest earned on marketable securities was $55.7 million, $32.4 million and $20.8 million in the years ended December 31, 2021, 2020 and 2019, respectively. The interest is recorded as other (expenses) income, net, in the accompanying consolidated statements of operations.

The following table summarizes the contractual maturities of marketable securities:


	As of December 31, 2021				As of December 31, 2020
	Amortized Cost		Aggregate Fair Value		Amortized Cost		Aggregate Fair Value
Financial Assets:	(In thousands)
Less than one year	$	1,084,751	$	1,085,006	$	1,126,091	$	1,128,927
One to three years	2,812,521		2,793,424		971,413		976,979
Total	$	3,897,272	$	3,878,430	$	2,097,504	$	2,105,906

Strategic Investments

As of December 31, 2021 and 2020, the Company held strategic investments with a carrying value of $68.3 million and $9.3 million, respectively. These securities are recorded as other long-term assets in the accompanying consolidated balance sheets. There were no impairments or other adjustments recorded in the years ended December 31, 2021 and 2020 related to these securities.

Financial Liabilities

The Company’s financial liabilities that are measured at fair value on a recurring basis consist of foreign currency derivative liabilities and are classified as Level 2 financial instruments in the fair value hierarchy. As of December 31, 2021, the aggregate fair value of these instruments and the associated gross unrealized losses were not significant.

The Company’s financial liabilities that are not measured at fair value on a recurring basis consist of its 2029 Notes and 2031 Notes, respectively. The Company’s Convertible Notes were fully redeemed in June 2021 and were no longer outstanding as of December 31, 2021. Refer to Note 10 for further details on these financial liabilities.

As of December 31, 2021 the fair values of the 2029 Notes and 2031 Notes were $510.2 million and $512.8 million, respectively. As of December 31, 2020, the fair value of the Convertible Notes was $1.7 billion.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


	As of December 31,
	2021		2020
	(In thousands)
Capitalized internal-use software development costs	$	198,589	$	142,489
Data center equipment (1)	77,946		43,477
Leasehold improvements	85,297		69,756
Office equipment	58,636		35,346
Furniture and fixtures	15,360		12,312
Software	10,506		9,943
Total property and equipment	446,334		313,323
Less: accumulated depreciation and amortization (1)	(191,018)		(130,084)
Total property and equipment, net	$	255,316	$	183,239

____________________________________

(1) Data center equipment contains $63.0 million and $40.8 million in assets held under finance leases as of December 31, 2021 and 2020, respectively. Accumulated depreciation and amortization contains $26.8 million and $15.0 million in accumulated amortizations for assets held under finance leases as of December 31, 2021 and 2020, respectively.

Depreciation and amortization expense was $59.6 million, $51.1 million and $37.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The Company capitalized $63.1 million, $47.1 million and $29.7 million in internal‑use software development costs in the years ended December 31, 2021, 2020 and 2019, respectively.

Derivatives and Hedging

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

As of December 31, 2021, the Company had outstanding foreign currency forward contracts designated as cash flow hedges with total sell and buy notional values of $276.2 million and $243.1 million, respectively. The notional value represents the amount that will be purchased or sold upon maturity of the forward contract. As of December 31, 2021, these contracts had maturities of less than 12 months.

Gains and losses associated with these foreign currency forward contracts were as follows:


	Consolidated Statement of Operations and Statement of Comprehensive Loss	Year Ended December 31,
			2021
			(In thousands)
Gains recognized in OCI	Net change in market value of effective foreign currency forward exchange contracts		$	294
Losses recognized in income due to instruments maturing	Cost of revenue		$	7,545

The Company is subject to master netting agreements with certain counterparties of the foreign exchange contracts, under which it is permitted to net settle transactions of the same currency with a single net amount payable by one party to the other. It is the Company’s policy to present the derivatives at gross in its consolidated balance sheet. The Company’s foreign currency forward contracts are not subject to any credit contingent features or collateral requirements. The Company manages its exposure to counterparty risk by entering into contracts with a diversified group of major financial institutions and by actively monitoring its outstanding positions. As of December 31, 2021, the Company did not have any offsetting arrangements.

Right-of-Use Assets and Lease Liabilities

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Right-of-Use Assets and Lease Liabilities

The Company has entered into various operating lease agreements for office space and data centers and finance lease agreements for data center and office equipment and furniture.

As of December 31, 2021, the Company had 31 leased properties with remaining lease terms of 0.1 years to 7.8 years, some of which include options to extend the leases for up to 5.0 years.

Operating lease costs recorded in the accompanying consolidated statements of operations were $61.0 million and $49.3 million for the year ended December 31, 2021 and 2020, respectively. Short-term lease, variable lease and finance lease costs were not significant.

Supplemental cash flow and other information related to operating leases was as follows:


	Year Ended December 31,
	2021			2020
Operating cash flows paid for amounts included in operating lease liabilities (in thousands)	$	60,085		$	46,895
Weighted average remaining lease term (in years)	5.5			6.0
Weighted average discount rate	4.5		%	4.8		%

Maturities of operating lease liabilities were as follows:


	As of December 31, 2021
Year Ended December 31,	(In thousands)
2022	$	63,086
2023	57,173
2024	50,742
2025	37,621
2026	34,827
Thereafter	54,760
Total lease payments	298,209
Less: imputed interest	(34,631)
Total operating lease obligations	263,578
Less: current obligations	(52,325)
Long-term operating lease obligations	$	211,253

Business Combinations

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Business Combinations

Zipwhip, Inc.

In July 2021, the Company acquired all outstanding shares of Zipwhip, Inc. (“Zipwhip”), a leading provider of toll-free messaging in the United States, for a purchase price, as adjusted, of $838.8 million. The purchase price included $418.1 million of cash, $419.2 million fair value of 1.1 million shares of the Company's Class A common stock and $1.5 million fair value of the pre-combination services of Zipwhip employees reflected in the unvested equity awards assumed by the Company at closing. Additionally, at closing, the Company issued 59,533 shares of its Class A common stock which are subject to vesting over a period of 3 years. Vesting of these shares will be recorded in the stock-based compensation expense as the services are provided..

Part of the cash consideration paid at closing was to settle the vested equity awards of Zipwhip employees. The Company assumed all unvested and outstanding equity awards of Zipwhip continuing employees, as converted into its own equity awards, at the conversion ratio provided in the Agreement and Plan of Merger and Reorganization (the “Zipwhip Merger Agreement”). This transaction also included a $19.1 million of additional cash consideration for certain employees, which will vest as these employees provide services in the post-acquisition period. This amount will be recorded in the operating expenses over a period of 3 years as the services are provided.

The acquisition was accounted for as a business combination and the total purchase price of $838.8 million was allocated to the net tangible and intangible assets and liabilities based on their fair values on the acquisition date with the excess recorded

as goodwill. These estimates were derived from information currently available. The determination of the fair values and estimated lives of depreciable tangible and identifiable intangible assets requires significant judgment. As of December 31, 2021, the areas that are not yet finalized include contingencies and income and other taxes.

The fair value of the 1.2 million aggregate number of shares of the Company's Class A common stock issued at closing was determined based on the closing market price of the Company's Class A common stock on the acquisition date. The fair value of the $30.7 million unvested equity awards assumed on the acquisition closing date was determined (a) for options, by using the Black-Scholes option pricing model with the applicable assumptions as of the acquisition date; (b) for restricted stock units, by using the closing market price of the Company's Class A common stock on the acquisition date. These awards will continue to vest as Zipwhip employees continue to provide services in the post-acquisition period. The fair value of these awards will be recorded into the stock-based compensation expense over the respective vesting period of each award.

The purchase price components, as adjusted, are summarized in the following table:


	Total
	(In thousands)
Fair value of Class A common stock transferred	$	419,197
Cash consideration	418,073
Fair value of the pre-combination service through equity awards	1,511
Total purchase price	$	838,781

The following table presents the purchase price allocation, as adjusted, recorded in the Company's consolidated balance sheet as of December 31, 2021:


	Total
	(In thousands)
Cash and cash equivalents	$	21,610
Accounts receivable and other current assets	11,481
Property and equipment, net	2,950
Operating right-of-use asset	23,545
Intangible assets (1)	244,500
Other assets	370
Goodwill	600,403
Accounts payable and other liabilities	(20,239)
Deferred revenue	(4,526)
Operating lease liability, noncurrent	(23,169)


Deferred tax liability	(18,144)
Total purchase price	$	838,781

____________________________________

(1) Identifiable intangible assets are comprised of the following:


	Total		Estimated life
	(In thousands)		(In years)
Developed technology	$	56,800	7
Customer relationships	147,700		10
Supplier relationships	39,600		5
Trade names	400		5
Total intangible assets acquired	$	244,500

Goodwill generated from this acquisition primarily represents the value that is expected from the increased scale and synergies as a result of the integration of both businesses. Goodwill is not deductible for tax purposes.

The estimated fair value of the intangible assets acquired was determined by the Company. The Company engaged a third‑party expert to assist with the valuation analysis. The Company used a relief-from-royalty method to estimate the fair values of the developed technology and trade names, a multi-period excess earnings method to estimate the fair values of customer relationships and a with-and-without method to estimate the fair value of the supplier relationships.

Most of the net tangible assets were valued at their respective carrying amounts as of the acquisition date as the Company believes that these amounts approximate their current fair values, except for operating right-of-use assets. The value of the acquired operating right-of-use assets was reduced to its respective fair value on the acquisition date.

The acquired entity's results of operations were included in the Company's consolidated financial statements from the date of acquisition, July 14, 2021. For the year ended December 31, 2021, Zipwhip contributed net operating revenue of $55.4 million, which is reflected in the accompanying consolidated statement of operations. Due to the integrated nature of the Company's operations, the Company believes that it is not practicable to separately identify earnings of Zipwhip on a stand-alone basis. Pro forma results of operations for this acquisition are not presented as the financial impact to the Company's consolidated financial statements is not significant.

Costs incurred related to the acquisition were not significant.

Other Fiscal 2021 Acquisitions

During 2021, the Company completed other business combinations for an aggregate purchase price of $105.0 million, of which $13.4 million was allocated to developed technology, $23.6 million was allocated to other intangible assets and $63.2 million was allocated to goodwill.

Fiscal 2020 Acquisitions

Segment.io, Inc.

In November 2020, the Company acquired all outstanding shares of Segment, the market-leading customer data platform, by issuing 9.5 million shares of its Class A common stock with a fair value of $2.6 billion and $415.9 million in cash, as adjusted. Of the total shares of Class A common stock issued at closing, 258,554 shares with the fair value of $70.7 million were subject to future vesting and are recorded in the stock-based compensation expense as the services are provided. The total amortization period was over 2.41 years from the date of acquisition. Part of the cash consideration was paid to settle the vested equity awards of Segment employees. The Company assumed all unvested and outstanding equity awards of Segment continuing employees as converted into its own equity awards at the conversion ratio provided in the Agreement and Plan of Reorganization (the "Merger Agreement").

The acquisition added additional products and services to the Company's offerings for its customers. With these additional products, the Company can now offer a customer engagement platform. The acquisition has also added new customers, new employees, technology and intellectual property assets.

The acquisition was accounted for as a business combination and the total purchase price of $3.0 billion, as adjusted, was allocated to the net tangible and intangible assets and liabilities based on their fair values on the acquisition date with the excess recorded as goodwill.

The purchase price, as adjusted, reflected the $2.5 billion fair value of 9.3 million shares of the Company's Class A common stock transferred as consideration for accredited outstanding shares of Segment, the $415.9 million cash consideration for unaccredited shares and vested equity awards and the $39.0 million fair value of the pre-combination services of Segment employees reflected in the unvested equity awards assumed by the Company on the acquisition date. As of December 31, 2021, 150,824 shares of Class A common stock issued at closing with future vesting was held in escrow.

The fair value of the 9.5 million shares of the Company's Class A common stock issued at closing was determined based on its closing price on the acquisition date. The fair value of the assumed unvested equity awards was determined (a) for options, by using a Black-Scholes option pricing model with the applicable assumptions as of the acquisition date, and (b) for restricted stock units, by using the closing market price of the Company's Class A common stock on the acquisition date.

The fair value of unvested employee equity awards assumed on the acquisition date was $245.3 million. These awards continue to vest as the Segment employees provide services in the post-acquisition period. The fair value of these awards is

recorded in the stock-based compensation expense over the respective vesting period of each award.

The purchase price components, as adjusted, are summarized in the following table:


	Total
	(In thousands)
Fair value of Class A common stock transferred	$	2,532,329
Cash consideration	415,899
Fair value of the pre-combination service through equity awards	38,972
Total purchase price	$	2,987,200

The following table presents the purchase price allocation, as adjusted:


	Total
	(In thousands)
Cash and cash equivalents	$	93,170
Accounts receivable and other current assets	90,635
Property and equipment, net	5,081
Operating right-of-use asset	53,630
Intangible assets (1)	595,000
Other assets	4,869
Goodwill	2,299,016
Accounts payable and other liabilities	(24,263)
Deferred revenue	(50,005)
Operating lease liability	(58,206)


Deferred tax liability	(21,728)
Total purchase price	$	2,987,200

____________________________________

(1) Identifiable intangible assets are comprised of the following:


	Total		Estimated life
	(In thousands)		(In years)
Developed technology	$	390,000	7
Customer relationships	190,000		6
Order backlog	10,000		1
Trade names	5,000		5
Total intangible assets acquired	$	595,000

Developed technology consists of software products and domain knowledge around customer data developed by Segment, which will enable Twilio to layer data across its platform to power timely and personalized communications over the right channel, further enhancing the Company's customer engagement platform. Customer relationships consists of contracts with platform users that purchase Segment’s products and services that carry distinct value.

The estimated fair value of the intangible assets acquired was determined by the Company. The Company engaged a third‑party expert to assist with the valuation analysis. The Company used a relief from royalty method to estimate the fair values of the developed technology and a multi-period excess earnings method to estimate the fair value of the customer relationships and order backlog.

Most of the net tangible assets were valued at their respective carrying amounts as of the acquisition date, as the Company believes that these amounts approximate their current fair values, except for operating right-of-use assets, which were reduced to their respective fair values as of the acquisition date.

The acquired entity's results of operations were included in the Company's consolidated financial statements from the date of acquisition, November 2, 2020. For the year ended December 31, 2021, Segment contributed net operating revenue of $200.9 million, which is reflected in the accompanying consolidated statement of operations. Due to the integrated nature of the Company's operations, the Company believes that it is not practicable to separately identify earnings of Segment on a stand-alone basis.

During the year ended December 31, 2020, the Company incurred costs related to this acquisition of $20.8 million that were expensed as incurred and recorded in general and administrative expenses in the accompanying consolidated statement of operations.

The following unaudited pro forma condensed combined financial information gives effect to the acquisition of Segment as if it was consummated on January 1, 2019 (the beginning of the comparable prior reporting period), and includes pro forma adjustments related to the amortization of acquired intangible assets, share-based compensation expense, one-time tax benefit and direct and incremental transaction costs reflected in the historical financial statements. Specifically, the following adjustments were made:

•For the year ended December 31, 2020, the Company's and Segment's direct and incremental transaction costs of $79.3 million are excluded from the pro forma condensed combined net loss.

•For the year ended December 31, 2019, the Company's direct and incremental transaction costs of $20.8 are included in the pro forma condensed combined net loss.

•In the year ended December 31, 2020, the pro forma condensed combined net loss includes a reversal of the valuation allowance release of $13.8 million.

•In the year ended December 31, 2019, the pro forma condensed combined net loss includes a one-time tax benefit of $38.1 that would have resulted from the acquisition, and an ongoing tax benefit of $7.5 million.

This unaudited data is presented for informational purposes only and is not intended to represent or be indicative of the results of operations that would have been reported had the acquisition occurred on January 1, 2019. It should not be taken as representative of future results of operations of the combined company.

The following table presents the unaudited pro forma condensed combined financial information:


	Year Ended December 31,
	2020		2019
	(Unaudited, in thousands)
Revenue	$	1,874,720	$	1,217,502
Net loss attributable to common stockholders	$	(655,355)	$	(576,962)

Other Fiscal 2020 Acquisitions

During 2020, the Company completed other business combinations for an aggregate purchase price of $13.0 million. The total purchase price was allocated to the tangible and intangibles assets acquired and liabilities assumed based on their fair values at the time of the acquisition. The Company does not consider these acquisitions to be material, individually or in aggregate, to its consolidated financial statements.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

Goodwill balance as of December 31, 2021 and 2020, was as follows:


	Total
	(In thousands)
Balance as of December 31, 2019	$	2,296,784
Goodwill additions related to 2020 acquisitions	2,303,780
Measurement period adjustments	(5,170)

Balance as of December 31, 2020	$	4,595,394
Goodwill additions related to 2021 acquisitions	663,599
Measurement period adjustments	4,173
Balance as of December 31, 2021	$	5,263,166

Intangible assets

Intangible assets consisted of the following:


	As of December 31, 2021
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	794,831	$	(222,765)	$	572,066
Customer relationships	538,264		(128,035)		410,229
Supplier relationships	51,671		(9,491)		42,180
Trade names	30,669		(13,874)		16,795
Order backlog	10,000		(10,000)		—
Patent	4,035		(508)		3,527

Total amortizable intangible assets	1,429,470		(384,673)		1,044,797
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920

Trademarks and other	295		—		295
Total	$	1,434,685	$	(384,673)	$	1,050,012


	As of December 31, 2020
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	724,599	$	(113,282)	$	611,317
Customer relationships	379,344		(59,574)		319,770
Supplier relationships	4,356		(3,044)		1,312
Trade names	25,560		(7,921)		17,639
Order backlog	10,000		(1,667)		8,333
Patent	3,360		(373)		2,987
Total amortizable intangible assets	1,147,219		(185,861)		961,358
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920
Trademarks and other	295		—		295
Total	$	1,152,434	$	(185,861)	$	966,573

Amortization expense was $198.8 million, $98.6 million and $72.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Total estimated future amortization expense is as follows:


	As of December 31, 2021
Year Ended December 31,	(In thousands)
2022	$	204,837
2023	201,527
2024	195,953
2025	192,379
2026	119,045
Thereafter	131,056
Total	$	1,044,797

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2021

Accrued Liabilities and Other Liabilities [Abstract]

Accrued Expenses and Other Liabilities

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of December 31,
	2021		2020
	(In thousands)
Accrued payroll and related	$	78,780	$	54,683
Accrued bonus and commission	64,665		25,341
Accrued cost of revenue	118,004		80,620
Sales and other taxes payable	61,975		48,390
ESPP contributions	10,284		6,272



Finance lease liability, current	12,370		9,062
Accrued other expense	71,425		28,527
Total accrued expenses and other current liabilities	$	417,503	$	252,895

Notes Payable

12 Months Ended

Dec. 31, 2021

Long-term Debt, Unclassified [Abstract]

Notes Payable

Long-term debt consisted of the following:



	As of December 31,
	2021		2020
	(In thousands)
2029 and 2031 Senior Notes
2029 Senior Notes
Principal	$	500,000	$	—
Unamortized discount	(5,701)		—
Unamortized issuance costs	(1,286)		—
Net carrying amount	493,013		—
2031 Senior Notes
Principal	500,000		—
Unamortized discount	(5,832)		—
Unamortized issuance costs	(1,274)		—
Net carrying amount	492,894		—
Convertible Senior Notes and Capped Call Transactions
Convertible Senior Notes
Principal	—		343,702
Unamortized discount	—		(38,406)
Unamortized issuance costs	—		(3,228)
Net carrying amount	—		302,068
Total long-term debt	$	985,907	$	302,068

2029 and 2031 Senior Notes

In March 2021, the Company issued $1.0 billion aggregate principal amount of senior notes, consisting of $500.0 million principal amount of 3.625% notes due 2029 (the “2029 Notes”) and $500.0 million principal amount of 3.875% notes due 2031 (the “2031 Notes,” and together with the 2029 Notes, the “Notes”). Initially, none of the Company’s subsidiaries guaranteed the Notes. However, under certain circumstances in the future the Notes can be guaranteed by each of the Company’s material domestic subsidiaries. The 2029 Notes and 2031 Notes will mature on March 15, 2029 and March 15, 2031, respectively. Interest payments are payable semi-annually in arrears on March 15 and September 15 of each year, commencing on September 15, 2021.

The aggregate net proceeds from offering of the Notes were approximately $984.7 million after deducting underwriting discounts and issuance costs paid by the Company. The issuance costs of $2.8 million are amortized into interest expense using the effective interest method over the term of the Notes.

The Company may voluntarily redeem the 2029 Notes, in whole or in part, under the following circumstances:

(1)at any time prior to March 15, 2024 with the net cash proceeds received by the Company from an equity offering at a redemption price equal to 103.625% of the principal amount, provided the aggregate principal amount of all such redemptions does not exceed 40% of the original aggregate principal amount of the 2029 Notes. Such redemption shall occur within 180 days after the closing of an equity offering and at least 50% of the then-outstanding aggregate principal amount of the 2029 Notes shall remain outstanding, unless all 2029 Notes are redeemed concurrently;

(2)at any time prior to March 15, 2024 at 100% of the principal amount, plus a “make-whole” premium;

(3)at any time on or after March 15, 2024 at a prepayment price equal to 101.813% of the principal amount;

(4)at any time on or after March 15, 2025 at a prepayment price equal to 100.906% of the principal amount; and

(5)at any time on or after March 15, 2026 at a prepayment price equal to 100.000% of the principal amount;

in each case, the redemption will include the accrued and unpaid interest, as applicable.

The Company may voluntarily redeem the 2031 Notes, in whole or in part, under the following circumstances:

(1)at any time prior to March 15, 2024 with the net cash proceeds received by the Company from an equity offering at a redemption price equal to 103.875% of the principal amount, provided the aggregate principal amount of all such redemptions does not to exceed 40% of the original aggregate principal amount of the 2031 Notes. Such redemption shall occur within 180 days after the closing of an equity offering and at least 50% of the then-outstanding aggregate principal amount of the 2031 Notes shall remain outstanding, unless all 2031 Notes are redeemed concurrently;

(2)at any time prior to March 15, 2026 at 100% of the principal amount, plus a “make-whole” premium;

(3)at any time on or after March 15, 2026 at a prepayment price equal to 101.938% of the principal amount;

(4)at any time on or after March 15, 2027 at a prepayment price equal to 101.292% of the principal amount;

(5)at any time on or after March 15, 2028 at a prepayment price equal to 100.646% of the principal amount; and

(6)at any time on or after March 15, 2029 at a prepayment price equal to 100.000% of the principal amount;

in each case, the redemption will include accrued and unpaid interest, as applicable.

The Notes are unsecured obligations and will rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes that the Company may incur in the future and equal in right of payment with the Company’s existing and future liabilities that are not subordinated.

In certain circumstances involving a change of control event, the Company will be required to make an offer to repurchase all, or, at the holder’s option, any part, of each holder’s notes of that series at 101% of the aggregate principal amount, plus accrued and unpaid interest, as applicable.

The indenture governing the Notes (the “Indenture”) contains covenants limiting the Company’s ability and the ability of its subsidiaries to: (i) create liens on certain assets to secure debt; (ii) grant a subsidiary guarantee of certain debt without also providing a guarantee of the Notes; and (iii) consolidate or merge with or into, or sell or otherwise dispose of all or substantially all of its assets to another person. These covenants are subject to a number of limitations and exceptions. Certain of these covenants will not apply during any period in which the Notes are rated investment grade by either Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Services.

The interest expense recognized during the year ended December 31, 2021 was not significant.

As of December 31, 2021, the Company was in compliance with all of its financial covenants under the Indenture.

Convertible Senior Notes and Capped Call Transactions

In May 2018, the Company issued $550.0 million aggregate principal amount of 0.25% convertible senior notes due 2023 (“Convertible Notes”) in a private placement, including $75.0 million aggregate principal amount of such Convertible Notes pursuant to the exercise in full of the over-allotment options of the initial purchasers. The total net proceeds from this offering, after deducting initial purchaser discounts and debt issuance costs paid by the Company, were approximately $537.0 million. The Convertible Notes had the original maturity date of June 1, 2023, unless earlier repurchased or redeemed by the Company or converted pursuant to their terms.

On May 18, 2021, the Company issued a notice of redemption for its Convertible Notes and in June 2021, redeemed all of the remaining outstanding principal amount of the Convertible Notes. During 2021 and through the date of the redemption, the Company converted $343.7 million aggregate principal amount of the Convertible Notes by issuing 4,846,965 shares of its Class A common stock. Of the $1.7 billion total value of these transactions, $1.4 billion and $335.7 million were allocated to the equity and liability components, respectively, utilizing the effective interest rate to determine the fair value of the liability component. The selected interest rate reflected the Company’s incremental borrowing rate, adjusted for the Company’s credit standing on nonconvertible debt with similar maturity. The extinguishment of these Convertible Notes resulted in a $29.0 million loss that is included in other (expenses) income, net, in the accompanying consolidated statement of operations. No sinking fund was provided for these Convertible Notes.

In the year ended December 31, 2020, the Company converted $206.3 million aggregate principal amount of the Convertible Notes by issuing 2,902,434 shares of its Class A common stock and $2.0 million of cash. Of the $894.6 million total value of these transactions, $701.9 million and $192.7 million were allocated to the equity and liability components, respectively. The extinguishment of these notes resulted in a $12.9 million loss and was included in other (expenses) income, net, in the accompanying consolidated statements of operations. There were no conversions in the year ended December 31, 2019.

Prior to their redemption, the Convertible Notes were convertible at the option of the holders only under the following circumstances:

(1) during any calendar quarter commencing after September 30, 2018, and only during such calendar quarter, if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) in a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is more than or equal to 130% of the conversion price on each applicable trading day;

(2) during the five business days period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of Convertible Notes for such trading day was less than 98% of the product of the last reported sale price of the Class A common stock and the conversion rate on each such trading day;

(3) upon the Company’s notice that it is redeeming any or all of the Convertible Notes; or

(4) upon the occurrence of specified corporate events.

Each $1,000 principal amount of the Convertible Notes was initially convertible into 14.104 shares of the Company’s Class A common stock par value $0.001, which was equivalent to an initial conversion price of approximately $70.90 per share. The conversion rate was subject to adjustment upon the occurrence of certain specified events but would not be adjusted for any accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change, as defined in the indenture, the Company would, in certain circumstances, increase the conversion rate by a number of additional shares for a holder that elects to convert its Notes in connection with such make-whole fundamental change or during the relevant redemption period. Further, the Convertible Notes could bear special interest under specified circumstances relating to the Company’s failure to comply with its reporting obligations under the indenture relating to the issuance of Convertible Notes (the “indenture”) or if the Convertible Notes were not freely tradeable as required by the indenture. None of the above mentioned events occurred during the period the notes were outstanding and prior to the redemption.

Upon conversion, the Company had an ability to pay or deliver, as the case may be, cash, shares of Class A common stock, or a combination of cash and shares of Class A common stock, at the Company’s election. Throughout the period the Convertible Notes were outstanding the conditional redemption feature was triggered several times and the Company settled the notes presented for conversion primarily in shares of its Class A common stock.

The foregoing description is qualified in its entirety by reference to the text of the indenture and the form of 0.25% convertible senior notes due 2023, which were filed as exhibits to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, and are incorporated herein by reference.

In accounting for the issuance of the Convertible Notes, the Company separated the Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $119.4 million and was determined by deducting the fair value of the liability component from the par value of the Notes. The equity component was not remeasured as long as it continued to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount, or the debt discount, was amortized to interest expense at an annual effective interest rate of 5.7% over the contractual terms of the Convertible Notes.

In accounting for the transaction costs related to the Convertible Notes, the Company allocated the total amount incurred to the liability and equity components of the Convertible Notes based on the proportion of the proceeds allocated to the debt and equity components. Issuance costs attributable to the liability component were approximately $10.2 million, were recorded as an additional debt discount and were amortized to interest expense using the effective interest method over the contractual terms of the Convertible Notes and were written off upon the redemption of the Convertible Notes. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity.

The net carrying amount of the equity component of the Convertible Notes was as follows:


	As of December 31,
	2021		2020
	(In thousands)
Proceeds allocated to the conversion options (debt discount)	$	—	$	74,636
Issuance costs	(2,819)		(2,819)
Net carrying amount	$	(2,819)	$	71,817

In connection with the offering of the Convertible Notes in May 2018, the Company entered into privately negotiated capped call transactions with certain counterparties (the “capped calls”). The capped calls each had an initial strike price of approximately $70.90 per share, subject to certain adjustments, which corresponded to the initial conversion price of the Notes. The capped calls had initial cap prices of $105.04 per share, subject to certain adjustments. The capped calls covered, subject to anti-dilution adjustments, approximately 7,757,200 shares of Class A common stock. The capped calls were generally intended to reduce or offset the potential dilution to the Class A common stock upon any conversion of the Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price.

Concurrently with the redemption of the Convertible Notes, the Company settled its capped call arrangement. The capped call arrangement was settled in June 2021 for gross cash consideration of $229.8 million received by the Company and recorded in additional paid-in-capital, net of $1.4 million in transaction costs and a $3.2 million realized gain. The gain was primarily driven by the change in the fair value of the Company’s Class A common stock on the transaction settlement date. The gain was recorded in other (expenses) income, net, in the accompanying consolidated statement of operations.

Supplemental Balance Sheet Information

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Supplemental Balance Sheet Information

A roll‑forward of the Company’s customer credit reserve is as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Balance, beginning of period	$	16,783	$	6,784	$	3,015
Additions	55,937		50,817		18,143
Deductions against reserve	(54,143)		(40,818)		(14,374)
Balance, end of period	$	18,577	$	16,783	$	6,784

Revenue by Geographic Area

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue by Geographic Area

Revenue by geographic area is based on the IP address or the mailing address at the time of registration. The following table sets forth revenue by geographic area:


	Year Ended December 31,
	2021		2020		2019
Revenue by geographic area:	(In thousands)
United States	$	1,881,873	$	1,282,213	$	808,857
International	959,966		479,563		325,611
Total	$	2,841,839	$	1,761,776	$	1,134,468


Percentage of revenue by geographic area:
United States	66	%	73	%	71	%
International	34	%	27	%	29	%

Long-lived assets outside of the United States were not significant.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and ContingenciesLease and Other CommitmentsThe Company entered into various non-cancelable operating lease agreements for its facilities. See Note 6 to these consolidated financial statements for additional detail on the Company's operating lease commitments.

Additionally, the Company has contractual commitments with its cloud infrastructure provider, network service providers and other vendors that are noncancellable and expire within one to four years. Future minimum payments under these noncancellable purchase commitments were as follows. Unrecognized tax benefits are not included in these amounts because any amounts expected to be settled in cash are not material:


	As of December 31, 2021
Year Ending December 31,	(In thousands)
2022	$	213,106
2023	222,852
2024	35,066
2025	561


Total payments	$	471,585

In February 2021, the Company entered into a Framework Agreement, as subsequently amended, with Syniverse Corporation (“Syniverse”) and Carlyle Partners V Holdings, L.P. (“Carlyle”) (the “Framework Agreement”), pursuant to which Syniverse would issue to the Company shares of Syniverse common stock in consideration for an investment by the Company of up to $750.0 million. In August 2021, Syniverse entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Blue Steel Merger Sub Inc. (the “Merger Sub”) and M-3 Brigade Acquisition II Corp. (“MBAC”), which would result in Syniverse being a wholly owned subsidiary of MBAC (the “Merger”). Concurrently, the Company and MBAC entered into the Twilio Subscription Agreement (the “Subscription Agreement”), pursuant to which the Company agreed, subject to the terms and conditions set forth therein, to subscribe for and purchase, and MBAC agreed to issue and sell to the Company, immediately prior to the closing of the Merger, shares of Class A common stock and, if applicable, shares of Class C common stock for an aggregate amount up to $750.0 million, depending on redemptions by MBAC’s shareholders. In connection with the closing of the investment, the Company and Syniverse (or their respective subsidiaries) would enter into a wholesale agreement.

See Note 18 for details on developments on this transaction which occurred in the period subsequent to December 31, 2021.

Legal Matters

The City and County of San Francisco (“San Francisco”) has assessed the Company for additional Telephone Users Tax (“TUT”) and Access Line Tax (“ALT”) on certain of the Company’s services for the years 2009 through 2018. The assessments totaled $38.8 million, including interest and penalties. The Company paid the assessments under protest in the third quarter of 2020.

On May 27, 2021, the Company filed a lawsuit against San Francisco in San Francisco Superior Court challenging the assessments. The Company raised numerous defenses to the assessments including that its services are not telecommunications services, application of the taxes to Twilio’s services violates the Internet Tax Freedom Act and San Francisco does not have jurisdiction to impose tax on services provided outside of San Francisco. The Company is seeking refunds of the taxes paid, waivers of interest and penalties, cost of suit and reasonable attorneys’ fees, and other legal and equitable relief as the court deems appropriate.

The Company believes it has strong arguments against the assessments, but litigation is uncertain and there is no assurance that it will prevail in court. Should the Company lose on one or more of its arguments, it could incur additional losses associated with taxes, interest, and penalties that together, in aggregate, could be material. The Company regularly assesses the likelihood of adverse outcomes resulting from tax disputes such as this and examines all open years to determine the necessity and adequacy of any tax reserves. The Company’s tax reserves are further discussed in Note 13(d) of these consolidated financial statements.

In addition to the litigation discussed above, from time to time, the Company may be subject to legal actions and claims in the ordinary course of business. The Company has received, and may in the future continue to receive, claims from third parties asserting, among other things, infringement of their intellectual property rights. Future litigation may be necessary to defend the Company, its partners and its customers by determining the scope, enforceability and validity of third‑party proprietary rights, or to establish our proprietary rights. The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources, and other factors.

Legal fees and other costs related to litigation and other legal proceedings are expensed as incurred and are included in general and administrative expenses in the accompanying consolidated statements of operations.

Indemnification Agreements

The Company has signed indemnification agreements with all of its board members and executive officers. The agreements indemnify the board members and executive officers from claims and expenses on actions brought against the individuals separately or jointly with the Company for certain indemnifiable events. Indemnifiable events generally mean any event or occurrence related to the fact that the board member or the executive officer was or is acting in his or her capacity as a board member or an executive officer for the Company or was or is acting or representing the interests of the Company.

In the ordinary course of business and in connection with our financing and business combinations transactions, the Company enters into contractual arrangements under which it agrees to provide indemnification of varying scope and terms to business partners, customers and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, intellectual property infringement claims made by third parties and other liabilities relating to or arising from the Company’s various products, or its acts or omissions. In these circumstances, payment may be conditional on the other party making a claim pursuant to the procedures specified in the particular contract. Further, the Company’s obligations under these agreements may be limited in terms of time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments. The terms of such obligations may vary.

As of December 31, 2021 and 2020, no amounts were accrued related to any outstanding indemnification agreements.

Other Taxes

The Company conducts operations in many tax jurisdictions within and outside the United States. In many of these jurisdictions, non-income-based taxes, such as sales, use, telecommunications, and other local taxes are assessed on the Company’s operations. In the last several years the Company has expanded to collect taxes in most jurisdictions where it operates. The Company continues to carry reserves for certain of its prior non-income-based tax exposures in certain jurisdictions when it is both probable that a liability was incurred and the amount of the exposure could be reasonably estimated. These reserves are based on estimates which include several key assumptions including, but not limited to, the taxability of the Company’s services, the jurisdictions in which its management believes it had nexus, and the sourcing of revenues to those jurisdictions

The Company continues to remain in discussions with certain jurisdictions regarding its prior sales and other taxes that it may owe. In the event any of these jurisdictions disagree with management’s assumptions and analysis, the assessment of the Company’s tax exposure could differ materially from management’s current estimates. For example, San Francisco City and County has assessed the Company for $38.8 million in taxes, including interest and penalties, which exceeded the $11.5 million the Company had accrued for the period covered by this assessment. The Company paid the full amount as required by law. The payment made in excess of the accrued amount is reflected as a deposit in the accompanying consolidated balance sheets. The Company believes, however, that this assessment is incorrect and, after failing to reach a settlement, filed a lawsuit on May 27, 2021 contesting the assessment as described above. However, litigation is uncertain and a ruling against the Company, or a dismissal of our complaint, may adversely affect its financial position and results of operations.

As of December 31, 2021, the liabilities recorded for these taxes were $25.4 million for domestic jurisdictions and $17.7 million for jurisdictions outside of the United States. As of December 31, 2020, these liabilities were $25.6 million and $9.6 million, respectively.

Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Preferred Stock

As of December 31, 2021 and 2020, 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, 2021 and 2020, the Company had authorized 1,000,000,000 shares of Class A common stock and 100,000,000 shares of Class B common stock, each par value $0.001 per share. As of December 31, 2021, 170,625,994 shares of Class A common stock and 9,842,105 shares of Class B common stock were issued and outstanding. As of December 31, 2020, 153,496,222 shares of Class A common stock and 10,551,302 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,
	2021	2020
Stock options issued and outstanding	3,351,313	5,625,735
Unvested restricted stock units issued and outstanding	6,475,700	7,523,882
Class A common stock reserved for Twilio.org	618,857	707,265
Stock-based awards available for grant under 2016 Plan	24,650,104	18,942,205
Stock-based awards available for grant under ESPP	6,382,830	4,941,281
Class A common stock reserved for the Convertible Notes	—	7,569,731
Total	41,478,804	45,310,099

Public Equity Offerings

In February 2021, August 2020 and June 2019, the Company completed public equity offerings in which it sold 4,312,500 shares, 5,819,838 shares and 8,064,515 shares, respectively, of its Class A common stock at a public offering price of $409.60, $247.00 and $124.00 per share, respectively. The Company received total proceeds of $1.8 billion, $1.4 billion and $979.0 million, respectively, net of underwriting discounts and offering expenses paid by the Company.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

2008 Stock Option Plan

The Company maintained a stock plan, the 2008 Stock Option Plan, as amended and restated (the “2008 Plan”), which allowed the Company to grant incentive (“ISO”), non‑statutory (“NSO”) stock options and restricted stock units (“RSU”) to its employees, directors and consultants to participate in the Company’s future performance through stock‑based awards at the discretion of the board of directors. Under the 2008 Plan, options to purchase the Company’s common stock could not be granted at a price less than fair value in the case of ISOs and NSOs. Fair value was determined by the board of directors, in good faith, with input from valuation consultants. On June 22, 2016, the plan was terminated in connection with the Company’s IPO. Accordingly, no shares are available for future issuance under the 2008 Plan. The 2008 Plan continues to govern outstanding equity awards granted thereunder. The Company’s right of first refusal for outstanding equity awards granted under the 2008 Plan terminated upon completion of the IPO. All remaining outstanding stock options granted under the 2008 Plan are vested and exercisable.

2016 Stock Option Plan

The Company’s 2016 Stock Option and Incentive Plan (the “2016 Plan”) became effective on June 21, 2016. The 2016 Plan provides for the grant of ISOs, NSOs, restricted stock, RSUs, stock appreciation rights, unrestricted stock awards, performance share awards, dividend equivalent rights and cash-based awards to employees, directors and consultants of the Company. A total of 11,500,000 shares of the Company’s Class A common stock were initially reserved for issuance under the 2016 Plan. These available shares automatically increase each January 1, beginning on January 1, 2017, by 5% of the number of shares of the Company’s Class A and Class B common stock outstanding on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s compensation committee. On January 1, 2021 and 2020, the shares available for grant under the 2016 Plan were automatically increased by 8,202,376 shares and 6,920,640 shares, respectively.

Under the 2016 Plan, the stock options are granted at a price per share not less than 100% of the fair market value per share of the underlying common stock on the date of grant.

Segment 2013 Stock Incentive Plan

In connection with its acquisition of Segment, the Company assumed and replaced all stock options and restricted stock units of continuing employees issued under Segment’s 2013 Stock Incentive Plan (“Segment Plan”) that were unvested and outstanding on the acquisition date. The assumed equity awards will continue to be outstanding and will be governed by the provisions of the Segment Plan.

SendGrid 2009, 2012 and 2017 Stock Incentive Plans

In connection with its acquisition of SendGrid, the Company assumed all stock options and restricted stock units issued under SendGrid’s 2009, 2012 and 2017 Stock Incentive Plans that were outstanding on the date of acquisition. The assumed equity awards will continue to be outstanding and will be governed by the provisions of their respective plans. Additionally, the Company assumed shares of SendGrid common stock that were reserved and available for issuance under SendGrid's 2017 Equity Incentive Plan, on an as converted basis. These shares can be utilized for future equity grants under the Company’s 2016 Plan, to the extent permitted by New York Stock Exchange rules.

Zipwhip 2008 Stock Plan and 2018 Equity Incentive Plan

In connection with its acquisition of Zipwhip, the Company assumed and replaced all stock options and restricted stock units of continuing employees issued under Zipwhip Amended and Restated 2008 Stock Plan and 2018 Equity Incentive Plan (“Zipwhip Plans”) that were unvested and outstanding on the acquisition date. The assumed equity awards will continue to be outstanding and will be governed by the provisions of the Zipwhip Plans.

Under all plans, stock options generally expire 10 years from the date of grant and vest over periods determined by the board of directors. The vesting period for stock options and restricted stock units is generally four years from the date of grant. For existing employees and, effective February 2021, for new-hires the stock options and restricted stock units vest in equal monthly and quarterly installments, respectively, over the service period.

2016 Employee Stock Purchase Plan

The Company’s Employee Stock Purchase Plan (“2016 ESPP”), as amended, initially became effective on June 21, 2016. A total of 2,400,000 shares of the Company’s Class A common stock were initially reserved for issuance under the 2016 ESPP. These available shares automatically increase each January 1, beginning on January 1, 2017, by the lesser of 1,800,000 shares of the Company's Class A common stock, 1% of the number of shares of the Company’s Class A and Class B common stock outstanding on the immediately preceding December 31 or such lesser number of shares as determined by the Company’s compensation committee. On January 1, 2021 and 2020, the shares available for grant under the 2016 ESPP were automatically increased by 1,640,475 shares and 1,384,128 shares, respectively.

The 2016 ESPP allows eligible employees to purchase shares of the Company’s Class A common stock at a discount of up to 15% through payroll deductions of their eligible compensation, subject to any plan limitations. The 2016 ESPP provides for separate six-month offering periods beginning in May and November of each fiscal year.

On each purchase date, eligible employees purchase the Company’s stock at a price per share equal to 85% of the lesser of (i) the fair market value of the Company’s Class A common stock on the offering date or (ii) the fair market value of the Company’s Class A common stock on the purchase date.

As of December 31, 2021, total unrecognized compensation cost related to the 2016 ESPP was not significant.

Stock-options and restricted stock units activity under the Company's 2008 Plan and 2016 Plan as well as respective Stock Incentive Plans of SendGrid and Segment was as follows:

Stock Options


	Number of options outstanding	Weighted- average exercise price (Per share)		Weighted- average remaining contractual term (In years)	Aggregate intrinsic value (In thousands)
Outstanding options as of December 31, 2020	5,070,735	$	51.71	6.85	$	1,454,222
Granted	350,208	343.94
Assumed in acquisition	83,539	49.26
Exercised	(1,733,819)	40.44
Forfeited and canceled	(419,350)	131.01
Outstanding options as of December 31, 2021	3,351,313	$	78.10	6.09	$	646,760
Options vested and exercisable as of December 31, 2021	2,152,819	$	37.21	4.92	$	490,502


	Year Ended December 31,
	2021		2020		2019
	(In thousands, except per share amounts)
Aggregate intrinsic value of stock options exercised (1)	$	508,539	$	603,597	$	394,998
Total estimated grant date fair value of options vested	$	138,851	$	107,854	$	81,292
Weighted-average grant date fair value per share of options granted	$	216.29	$	170.70	$	58.13

____________________________________
(1) Aggregate intrinsic value represents the difference between the fair value of the Company’s Class A common stock as reported on the New York Stock Exchange and the exercise price of outstanding “in-the-money” options.

As of December 31, 2020, the Company had outstanding 555,000 shares of performance-based stock options with a weighted average exercise price of $31.72 and an aggregate intrinsic value of $170.3 million. All performance conditions had been met. During the year ended December 31, 2021, all of these stock options were exercised. The aggregate intrinsic value of these stock options exercised was $140.2 million. As of December 31, 2021, no performance-based stock options remain outstanding.

As of December 31, 2021, total unrecognized compensation cost related to all unvested stock options was $151.5 million, which will be amortized on a ratable basis over a weighted-average period of 2.2 years.

Restricted Stock Units


	Number of awards outstanding	Weighted- average grant date fair value (Per share)		Aggregate intrinsic value (In thousands)
Unvested RSUs as of December 31, 2020	7,523,882	$	131.76	$	2,542,858
Granted	3,465,980	328.38
Vested	(3,493,652)	114.70
Forfeited and canceled	(1,020,510)	$	188.76
Unvested RSUs as of December 31, 2021	6,475,700	$	237.22	$	1,705,311

As of December 31, 2021, the Company had outstanding 24,697 restricted stock awards (“RSAs”) that were held in escrow with future vesting conditions. The aggregate intrinsic value of these awards was not significant.

As of December 31, 2021, total unrecognized compensation cost related to unvested RSUs and RSAs was $1.4 billion, which will be amortized over a weighted-average period of 3.1 years.

As of December 31, 2021, the unrecognized compensation cost related to Class A common stock subject to future vesting conditions is $60.1 million, which will be amortized over a term of 2.0 years.

Valuation Assumptions

The fair value of employee stock options was estimated on the date of grant using the following assumptions in the Black-Scholes option pricing model:


	Year Ended December 31,
Employee Stock Options:	2021	2020	2019
Fair value of common stock	$268.55 - $409.21	$108.37 - $301.72	$103.70 - $130.70
Expected term (in years)	0.30 - 6.39	0.52 - 6.08	0.33 - 6.08
Expected volatility	42.9% - 61.5%	51.9% - 65.1%	49.0% - 66.5%
Risk-free interest rate	0.1% - 1.4%	0.1% - 1.4%	1.6% - 2.5%
Dividend rate	—%	—%	—%


	Year Ended December 31,
Employee Stock Purchase Plan:	2021	2020	2019
Expected term (in years)	0.50	0.50	0.49 - 0.50
Expected volatility	46.4% - 58.7%	54.4% - 72.1%	43.1% - 50.3%
Risk-free interest rate	—% - 0.1%	0.1% - 0.2%	1.6% - 2.4%
Dividend rate	—%	—%	—%

Stock-Based Compensation Expense

The Company recorded total stock-based compensation expense as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Cost of revenue	$	14,074	$	8,857	$	7,123
Research and development	258,672		173,303		126,012
Sales and marketing	213,351		103,450		60,886
General and administrative	146,188		76,301		70,297
Total	$	632,285	$	361,911	$	264,318

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

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


	Year Ended December 31,
	2021		2020		2019

Net loss attributable to common stockholders (in thousands)	$	(949,900)	$	(490,979)	$	(307,063)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted	174,180,465		146,708,663		130,083,046
Net loss per share attributable to common stockholders, basic and diluted	$	(5.45)	$	(3.35)	$	(2.36)

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 December 31,
	2021	2020	2019
Stock options issued and outstanding	3,351,313	5,625,735	7,705,848
Restricted stock units issued and outstanding	6,475,700	7,523,882	8,490,517
Class A common stock reserved for Twilio.org	618,857	707,265	795,673
Class A common stock committed under ESPP	147,947	103,703	207,792
Convertible Notes(1)	—	4,847,578	3,150,647
Class A common stock in escrow	75,506	75,612	—
Class A common stock in escrow and restricted stock awards subject to future vesting	235,054	268,030	—

Total	10,904,377	19,151,805	20,350,477

____________________________________

(1) The Convertible Notes were fully redeemed in 2021 and were no longer outstanding as of December 31, 2021. As of December 31, 2020, the Company expected to settle the principal amount of the notes in shares of its Class A common stock, and as such used the if-converted method to calculate any potential dilutive effect of the debt settlement on diluted net income per share, if applicable. Prior to the fourth quarter 2020, the Company expected to settle the principal amount of these notes in cash and any excess in shares of the Company's Class A common stock. Hence, as of December 31, 2019, the Company used the treasury stock method to calculate any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread has a dilutive impact on diluted net income per share of Class A common stock when the average market price of the Company's Class A common stock for a given period exceeds the conversion price of $70.90 per share for the Convertible Notes. The conversion spread was calculated using the average market price of Class A common stock during the period, consistent with the treasury stock method.

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

The following table presents domestic and foreign components of loss before income taxes for the periods presented:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
United States	$	(737,360)	$	(403,148)	$	(328,902)
International	(223,569)		(101,278)		(33,314)
Loss before provision for income taxes	$	(960,929)	$	(504,426)	$	(362,216)

Benefit for income taxes consists of the following:


	Year Ended December 31,
	2021		2020		2019
Current:	(In thousands)
Federal	$	122	$	—	$	—
State	420		272		198
Foreign	8,274		5,215		2,684
Total	8,816		5,487		2,882
Deferred:
Federal	(13,772)		(12,719)		(49,393)
State	(4,083)		(3,563)		(7,474)
Foreign	(1,990)		(2,652)		(1,168)
Total	(19,845)		(18,934)		(58,035)
Income tax benefit	$	(11,029)	$	(13,447)	$	(55,153)

The following table presents a reconciliation of the statutory federal tax rate and the Company's effective tax rate:


	Year Ended December 31,
	2021		2020		2019
Tax benefit at federal statutory rate	21	%	21	%	21	%
State tax, net of federal benefit	8		12		8
Stock-based compensation	16		24		14
Credits	4		3		4
Foreign rate differential	(1)		(4)		(2)
Permanent book vs. tax differences	—		(1)		—
Change in valuation allowance	(46)		(51)		(29)

Other	—		—		(1)
Effective tax rate	2	%	4	%	15	%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following table presents the significant components of the Company's deferred tax assets and liabilities:


	As of December 31,
	2021		2020
Deferred tax assets:	(In thousands)
Net operating loss carryforwards	$	1,054,585	$	656,755
Accrued and prepaid expenses	24,831		15,408
Stock-based compensation	44,261		32,900
Research and development credits	148,282		92,899
Charitable contributions	15,219		8,229
Capped call	—		4,475
Debt issuance cost	—		230
Depreciable property	3,675		—
Intangibles	135,500		135,500
Lease liability	71,651		68,566
Other	14,567		—
Gross deferred tax assets	1,512,571		1,014,962
Valuation allowance	(1,136,827)		(677,782)
Net deferred tax assets	375,744		337,180
Deferred tax liabilities:
Capitalized software	(28,825)		(19,174)
Prepaid expenses	(1,649)		(450)
Acquired intangibles	(251,034)		(231,379)
Property and equipment	—		(85)
Convertible debt	—		(9,495)
Right-of-use asset	(64,277)		(66,243)
Deferred commissions	(47,897)		(21,162)
Other	—		(2,876)
Net deferred tax liability	$	(17,938)	$	(13,684)

The following table summarizes our tax carryforwards, carryovers, and credits:


	As of December 31, 2021		Expiration Date (If not utilized)
	(In thousands)
Federal net operating loss carryforwards	$	320,167	Various dates beginning in 2029
Federal tax credits	$	132,920	Various dates beginning in 2029
Federal net operating loss carryforwards	$	3,906,263	Indefinite
State net operating loss carryforwards	$	2,737,083	Various dates beginning in 2025
State tax credits	$	84,858	Indefinite
Foreign net operating loss carryforwards	$	268,653	Indefinite

A limitation may apply to the use of the net operating loss and credit carryforwards, under provisions of the Internal Revenue Code of 1986, as amended, and similar state tax provisions that are applicable if the Company experiences an “ownership change.” An ownership change may occur, for example, as a result of issuance of new equity. Should these limitations apply, the carryforwards would be subject to an annual limitation, resulting in a potential reduction in the gross deferred tax assets before considering the valuation allowance.

The Company's accounting for deferred taxes involves the evaluation of a number of factors concerning the realizability of its net deferred tax assets. The Company primarily considered such factors as its history of operating losses, the nature of the Company's deferred tax assets, and the timing, likelihood and amount, if any, of future taxable income during the periods in which those temporary differences and carryforwards become deductible. Additionally, in December 2020, the Company completed an intra-entity asset transfer of certain intellectual property rights to an Irish subsidiary where its international business is headquartered. The transfer resulted in a step-up in the tax basis of the transferred intellectual property rights and a correlated $135.5 million increase in foreign deferred tax assets.

At present, the Company does not believe that it is more likely than not that the federal, state and foreign net deferred tax assets will be realized, and accordingly, a full valuation allowance has been established. The valuation allowance increased by approximately $459.0 million and $421.9 million during the years ended December 31, 2021 and 2020, respectively.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Unrecognized tax benefit, beginning of year	$	191,183	$	49,042	$	15,635
Gross increases for tax positions of prior years	3,496		4,259		12,939
Gross decrease for tax positions of prior years	(10,693)		(931)		(395)
Gross increases for tax positions of current year	39,394		138,813		20,863

Unrecognized tax benefit, end of year	$	223,380	$	191,183	$	49,042

As of December 31, 2021, the Company had approximately $223.4 million of unrecognized tax benefits. If the $223.4 million is recognized, $6.6 million would affect the effective tax rate. The remaining amount would be offset by the reversal of related deferred tax assets which are subject to a full valuation allowance.

The Company recognizes interest and penalties, if any, related to uncertain tax positions in its income tax provision. As of December 31, 2021 and 2020, such amounts are not significant.

The Company does not anticipate any significant changes within 12 months of December 31, 2021, in its uncertain tax positions that would be material to the consolidated financial statements taken as a whole because nearly all of the unrecognized tax benefit has been offset by a deferred tax asset, which has been reduced by a valuation allowance.

The Company files U.S. federal income tax returns as well as income tax returns in many U.S. states and foreign jurisdictions. As of December 31, 2021, the tax years 2008 through the current period remain open to examination by the major jurisdictions in which the Company is subject to tax. Fiscal years outside the normal statute of limitation remain open to audit by tax authorities due to tax attributes generated in those early years, which have been carried forward and may be audited in subsequent years when utilized. The Company is fully reserved for all open U.S. federal, state and local, or non-U.S. income tax examinations by any tax authorities.

On June 7, 2019, a three-judge panel from the U.S. Court of Appeals for the Ninth Circuit overturned the U.S. Tax Court's decision in Altera Corp. v. Commissioner and upheld the portion of the Treasury regulations under Section 482 of the Internal Revenue Code that requires related parties in a cost-sharing arrangement to share expenses related to share-based compensation. As a result of this decision, the Company's gross unrecognized tax benefits increased to reflect the impact of including share-based compensation in cost-sharing arrangements. On July 22, 2019, Altera filed a petition for a rehearing before the full Ninth Circuit and the request was denied on November 12, 2019. On February 10, 2020, Altera filed a petition to appeal the decision to the Supreme Court and on June 22, 2020 the Supreme Court denied the petition. There is no impact on the Company’s effective tax rate for years ended December 31, 2021 and 2020 due to a full valuation allowance against its deferred tax assets. We will continue to monitor future developments and their potential effects on our consolidated financial statements.

In connection with the Zipwhip acquisition, the Company recorded a net deferred tax liability which provides an additional source of taxable income to support the realization of the pre-existing deferred tax assets and, accordingly, during the year ended December 31, 2021, the Company released a total of $15.9 million of its U.S. valuation allowance. The Company continues to maintain a valuation allowance for its U.S. Federal and State net deferred tax assets.

In connection with the Segment acquisition, the Company recorded a net deferred tax liability which provides an additional source of taxable income to support the realization of the pre-existing deferred tax assets and, accordingly, during the year ended December 31, 2020, the Company released a total of $13.8 million of its U.S. valuation allowance. The Company continues to maintain a valuation allowance for its U.S. Federal and State net deferred tax assets.

In connection with the SendGrid acquisition, the Company recorded a net deferred tax liability which provides an additional source of taxable income to support the realization of the pre-existing deferred tax assets and, accordingly, during the year ended December 31, 2019, the Company released a total of $55.0 million of its U.S. valuation allowance. The Company continues to maintain a valuation allowance for its U.S. Federal and State net deferred tax assets.

The provision for income taxes recorded in the years ended December 31, 2021 and 2020, consists primarily of income taxes, withholding taxes in foreign jurisdictions in which the Company conducts business and the tax benefit related to the release of valuation allowance from acquisitions. The Company’s U.S. operations have been in a loss position and the Company maintains a full valuation allowance against its U.S. deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events As described in Note 13(a), the Company was a party to a certain Framework Agreement, as amended, and a Subscription Agreement pursuant to which the Company intended to purchase up to $750.0 million in common stock of MBAC, subject to certain terms and conditions. In February 2022, Syniverse, MBAC and the Merger Sub mutually terminated the Merger Agreement and the related proposed Merger. The parties agreed to this termination because the rate of MBAC shareholder redemptions for the proposed transaction would have exceeded the minimum cash condition for closing, which occurred as a result of the recent changes in market conditions. Consequently, the Company will not be purchasing any shares of common stock of, or making any investments in, MBAC. Notwithstanding the above, the Framework Agreement between the Company, Syniverse and Carlyle remains in full force and effect. Pursuant to the terms and subject to the closing conditions set forth in the Framework Agreement, the parties are pursuing the alternative transaction, whereby the Company will make a minority investment of $500.0 million to $750.0 million in Syniverse and the parties (or their applicable subsidiaries) will enter into a wholesale agreement. The transaction is expected to close in 2022.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation

Basis of PresentationThe accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Principles of Consolidation

Principles of ConsolidationThe consolidated financial statements include the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated.

Use of Estimates

Use of EstimatesThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are used for, but not limited to, revenue allowances and sales credit reserves; recoverability of long-lived and intangible assets; capitalization and useful life of the Company’s capitalized internal-use software development costs; fair value of acquired intangible assets and goodwill; accruals and contingencies. Estimates are based on historical experience and on various assumptions that the Company believes are reasonable under current circumstances. However, future events are subject to change and best estimates and judgments may require further adjustments, therefore, actual results could differ materially from those estimates. Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation.

Concentration of Credit Risk

Concentration of Credit RiskFinancial instruments that potentially expose the Company to a concentration of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities and accounts receivable. The Company maintains cash, restricted cash, cash equivalents and marketable securities with financial institutions that management believes are financially sound and have minimal credit risk exposure although the balances will exceed insured limits.The Company sells its services to a wide variety of customers. If the financial condition or results of operations of any significant customer deteriorates substantially, operating results could be adversely affected. To reduce credit risk, management performs credit evaluations of the financial condition of significant customers. The Company does not require collateral from its credit customers and maintains reserves for estimated credit losses on customer accounts when considered necessary. Actual credit losses may differ from the Company’s estimates.

Revenue Recognition

The Company determines revenue recognition through the following steps:

•Identification of the contract, or contracts, with a customer;

•Identification of the performance obligations in the contract;

•Determination of the transaction price;

•Allocation of the transaction price to the performance obligations in the contract; and,

•Recognition of revenue when, or as, the Company satisfies a performance obligation.

Nature of Products and Services

Remaining Performance Obligations

Deferred Revenue and Customer Deposits and Deferred Sales Commissions

Deferred Revenue and Customer DepositsDeferred revenue is recorded when a non-cancellable contractual right to bill exists or when cash payments are received in advance of future usage on non-cancelable contracts. Customer refundable prepayments are recorded as customer deposits. As of December 31, 2021 and 2020, the Company recorded $141.5 million and $87.2 million as its deferred revenue and customer deposits, respectively, that are included in deferred revenue and customer deposits and other long-term liabilities in the accompanying consolidated balance sheets. During the years ended December 31, 2021, 2020 and 2019, the Company recognized $70.1 million, $19.5 million and $18.7 million of revenue, respectively, that was included in the deferred revenue and customer deposits balance as of the end of the previous year.(g)Deferred Sales CommissionsThe Company records an asset for the incremental costs of obtaining a contract with a customer, for example, sales commissions that are earned upon execution of contracts. The Company uses the portfolio of data method to determine the estimated period of benefit of capitalized commissions which is generally determined to be up to five years. Amortization expense related to these capitalized costs related to initial contracts, upsells and renewals, is recognized on a straight line basis over the estimated period of benefit of the capitalized commissions. The Company applies the optional exemption of expensing these costs as incurred with amortization periods of one year or less.

Cost of Revenue

Cost of RevenueCost of revenue consists primarily of costs of communications services purchased from network service providers. Cost of revenue also includes fees to support the Company's cloud infrastructure, direct costs of personnel, such as salaries and stock-based compensation for the customer care and support services employees, and non-personnel costs, such as amortization of capitalized internal-use software development costs and amortization of acquired intangibles.

Research and Development Expense

Research and Development ExpenseResearch and development expenses consist primarily of personnel costs, cloud infrastructure fees for staging and development, outsourced engineering services, amortization of capitalized internal-use software development costs and an allocation of general overhead expenses. The Company capitalizes the portion of its software development costs that meets the

Internal-Use Software Development Costs

Internal-Use Software Development CostsCertain costs of platform and other software applications developed for internal use are capitalized. The Company capitalizes qualifying internal-use software development costs that are incurred during the application development stage. Capitalization of costs begins when two criteria are met: (i) the preliminary project stage is completed and (ii) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Costs incurred for maintenance, minor upgrades and enhancements are expensed. Costs related to preliminary project activities and post-implementation operating activities are also expensed as incurred.Capitalized costs of platform and other software applications are included in property and equipment. These costs are amortized over the estimated useful life of the software on a straight-line basis over three years. Management evaluates the useful life of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. The amortization of costs related to the platform applications is included in cost of revenue, while the amortization of costs related to other software applications developed for internal use is included in operating expenses.

Advertising Costs

Advertising CostsAdvertising costs are expensed as incurred and were $78.8 million, $47.2 million and $27.0 million in the years ended December 31, 2021, 2020 and 2019, respectively. Advertising costs are included in sales and marketing expenses in the accompanying consolidated statements of operations.

Stock-based Compensation

Stock-Based CompensationAll stock-based compensation to employees, including the purchase rights issued under the Company's 2016 Employee Stock Purchase Plan (the “ESPP”), is measured on the grant date based on the fair value of the awards on the date of grant. These costs are recognized as an expense following straight-line attribution method over the requisite service period. The Company uses the Black-Scholes option pricing model to measure the fair value of its stock options and the purchase rights

Compensation expense for stock options granted to nonemployees is calculated using the Black-Scholes option pricing model and is recognized in expense over the service period.

The Black-Scholes option pricing model requires the use of complex assumptions, which determine the fair value of stock options and the purchase rights issued under ESPP. These assumptions include:

•Fair value of the common stock. The Company uses the market closing price of its Class A common stock, as reported on the New York Stock Exchange, for the fair value.

•Expected dividend. The expected dividend is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock.

If any of the assumptions used in the Black-Scholes model changes, stock-based compensation for future options may differ materially compared to that associated with previous grants.

Income Taxes

The Company records interest and penalties related to uncertain tax positions in the provision for income taxes in the consolidated statements of operations.

Foreign Currency Translation

Foreign Currency TranslationThe functional currency of the Company's foreign subsidiaries is generally the U.S. dollar. Accordingly, the subsidiaries remeasure monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates. Revenue and expense accounts are remeasured at the average exchange rate in effect during the year. Remeasurement adjustments are recognized in the consolidated statements of operations as other income or expense in the year of occurrence. Foreign currency transaction gains and losses were insignificant for all periods presented.For those entities where the functional currency is a foreign currency, adjustments resulting from translating the financial statements into U.S. dollars are recorded as a component of accumulated other comprehensive (loss) income in stockholders' equity. Monetary assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates during the period. Equity transactions are translated using historical exchange rates. Foreign currency transaction gains and losses are included in other (expenses) income, net in the consolidated statements of operations.

Comprehensive Loss

Comprehensive LossComprehensive loss refers to net loss and other revenue, expenses, gains and losses that, under generally accepted accounting principles, are recorded as an element of stockholders' equity but are excluded from the calculation of net loss.

Net Loss Per Share Attributable to Common Stockholders

Cash and Cash Equivalents

Cash and Cash EquivalentsThe Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash equivalents consist of cash deposited into money market funds and commercial paper. All credit and debit card transactions that process as of the last day of each month and settle within the first few days of the subsequent month are also classified as cash and cash equivalents as of the end of the month in which they were processed.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful AccountsAccounts receivable are recorded net of the allowance for doubtful accounts. The allowance for doubtful accounts is estimated based on the Company's assessment of its ability to collect on customer accounts receivable. The Company regularly reviews the allowance by considering certain factors such as historical experience, credit quality, age of accounts receivable balances and other known conditions that may affect a customer's ability to pay. In cases where the Company is aware of circumstances that may impair a specific customer's ability to meet their financial obligations, a specific allowance is recorded against amounts due from the customer which reduces the net recognized receivable to the amount the Company reasonably believe will be collected. The Company writes-off accounts receivable against the allowance when a determination is made that the balance is uncollectible and collection of the receivable is no longer being actively pursued.

Costs Related to Public Offerings

Costs Related to Public OfferingsCosts related to public offerings, which consist of direct incremental legal, printing and accounting fees are deferred until the offering is completed. Upon completion of the offering, these costs are offset against the offering proceeds within the consolidated statements of stockholders' equity.

Property and Equipment

Property and EquipmentProperty and equipment, both owned and under finance leases, is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful life of the related asset. Maintenance and repairs are charged to expenses as incurred.

The useful lives of property and equipment are as follows:


Capitalized internal-use software development costs						3 years
Data center equipment						2 - 4 years
Office equipment						3 years
Furniture and fixtures						5 years
Software						3 years
Assets under financing lease						5 years or remaining lease term
Leasehold improvements						5 years or remaining lease term

Leases

Intangible Assets

The useful lives of the intangible assets are as follows:


Developed technology						3 - 7 years
Customer relationships						2 - 10 years
Supplier relationships						2 - 5 years
Trade names						5 years
Order backlog						1 year
Patents						20 years
Telecommunication licenses						Indefinite
Trademarks						Indefinite
Domain names						Indefinite

Goodwill

Derivatives and Hedging

Impairment of Long-Lived Assets

(x)Impairment of Long-Lived AssetsThe Company evaluates its long-lived assets, including property, equipment and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If such evaluation indicates that the carrying amount of the asset or the asset group is not recoverable, any impairment loss would be equal to the amount the carrying value exceeds the fair value.

Business Combinations

Business CombinationsThe Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair values. Goodwill is measured as the excess of the consideration transferred over the fair value of assets acquired and liabilities assumed on the acquisition date. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed, these estimates are inherently uncertain and subject to refinement. The authoritative guidance allows a measurement period of up to one year from the date of acquisition to make adjustments to the preliminary allocation of the purchase price. As a result, during the measurement period the Company may record adjustments to the fair values of assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that it identifies adjustments to the preliminary purchase price allocation. Upon conclusion of the measurement period or final determination of the values of the assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments will be recorded to the consolidated statement of operations.

Segment Information

Segment InformationThe Company's Chief Executive Officer is the chief operating decision maker, who reviews the Company's financial information presented on a consolidated basis for purposes of allocating resources and evaluating the Company's financial performance. Accordingly, the Company has determined that it operates in a single reporting segment.

Fair Value of Financial Instruments

•Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Recently Issued Accounting Guidance, Not yet Adopted

Recently Issued Accounting Guidance, Not yet Adopted In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, "Revenue from Contracts with Customers". At the acquisition date, an acquirer should account for the related revenue contracts as if it had originated the contracts. Generally, this should result in an acquirer recognizing and measuring the acquired contact assets and contract liabilities consistent with how they were recognized and measured in the acquiree's financial statements, assuming the acquirer is able to assess and rely on how the acquiree applied ASC 606. ASU 2021-08 is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. The Company expects to adopt ASU 2021-08 in the first quarter of 2022 with no material impact on the Company's consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of property and equipment

The useful lives of property and equipment are as follows:


Capitalized internal-use software development costs						3 years
Data center equipment						2 - 4 years
Office equipment						3 years
Furniture and fixtures						5 years
Software						3 years
Assets under financing lease						5 years or remaining lease term
Leasehold improvements						5 years or remaining lease term

Property and equipment consisted of the following:


	As of December 31,
	2021		2020
	(In thousands)
Capitalized internal-use software development costs	$	198,589	$	142,489
Data center equipment (1)	77,946		43,477
Leasehold improvements	85,297		69,756
Office equipment	58,636		35,346
Furniture and fixtures	15,360		12,312
Software	10,506		9,943
Total property and equipment	446,334		313,323
Less: accumulated depreciation and amortization (1)	(191,018)		(130,084)
Total property and equipment, net	$	255,316	$	183,239

____________________________________

Schedule of intangible assets

The useful lives of the intangible assets are as follows:


Developed technology						3 - 7 years
Customer relationships						2 - 10 years
Supplier relationships						2 - 5 years
Trade names						5 years
Order backlog						1 year
Patents						20 years
Telecommunication licenses						Indefinite
Trademarks						Indefinite
Domain names						Indefinite

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of financial assets measured at fair value on a recurring basis

The following tables provide the financial assets measured at fair value on a recurring basis:


	Amortized Cost or Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value Hierarchy as of December 31, 2021						Aggregate Fair Value
							Level 1	Level 2		Level 3
Financial Assets:	(In thousands)
Cash and cash equivalents:
Money market funds	$	786,548	$	—	$	—		$	786,548	$	—	$	—	$	786,548

Commercial paper	46,076		—		—			—		46,076		—		46,076
Total included in cash and cash equivalents	832,624		—		—			786,548		46,076		—		832,624
Marketable securities:
U.S. Treasury securities	375,305		6		(2,561)			372,750		—		—		372,750
Non-U.S. government securities	221,641		—		(1,355)			220,286		—		—		220,286
Corporate debt securities and commercial paper	3,300,326		960		(15,892)			31,000		3,254,394		—		3,285,394
Total marketable securities	3,897,272		966		(19,808)			624,036		3,254,394		—		3,878,430

Total financial assets	$	4,729,896	$	966	$	(19,808)		$	1,410,584	$	3,300,470	$	—	$	4,711,054


	Amortized Cost or Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value Hierarchy as of December 31, 2020						Aggregate Fair Value
							Level 1	Level 2		Level 3
Financial Assets:	(In thousands)
Cash and cash equivalents:
Money market funds	$	656,749	$	—	$	—		$	656,749	$	—	$	—	$	656,749
Commercial paper	2,000		—		—			—		2,000		—		2,000
Total included in cash and cash equivalents	658,749		—		—			656,749		2,000		—		658,749
Marketable securities:
U.S. Treasury securities	223,247		389		(1)			223,635		—		—		223,635
Corporate debt securities and commercial paper	1,874,257		8,149		(135)			50,000		1,832,271		—		1,882,271
Total marketable securities	2,097,504		8,538		(136)			273,635		1,832,271		—		2,105,906
Total financial assets	$	2,756,253	$	8,538	$	(136)		$	930,384	$	1,834,271	$	—	$	2,764,655

Schedule of contractual maturities of marketable securities

The following table summarizes the contractual maturities of marketable securities:


	As of December 31, 2021				As of December 31, 2020
	Amortized Cost		Aggregate Fair Value		Amortized Cost		Aggregate Fair Value
Financial Assets:	(In thousands)
Less than one year	$	1,084,751	$	1,085,006	$	1,126,091	$	1,128,927
One to three years	2,812,521		2,793,424		971,413		976,979
Total	$	3,897,272	$	3,878,430	$	2,097,504	$	2,105,906

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

The useful lives of property and equipment are as follows:


Capitalized internal-use software development costs						3 years
Data center equipment						2 - 4 years
Office equipment						3 years
Furniture and fixtures						5 years
Software						3 years
Assets under financing lease						5 years or remaining lease term
Leasehold improvements						5 years or remaining lease term

Property and equipment consisted of the following:


	As of December 31,
	2021		2020
	(In thousands)
Capitalized internal-use software development costs	$	198,589	$	142,489
Data center equipment (1)	77,946		43,477
Leasehold improvements	85,297		69,756
Office equipment	58,636		35,346
Furniture and fixtures	15,360		12,312
Software	10,506		9,943
Total property and equipment	446,334		313,323
Less: accumulated depreciation and amortization (1)	(191,018)		(130,084)
Total property and equipment, net	$	255,316	$	183,239

____________________________________

Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

Gains and losses associated with these foreign currency forward contracts were as follows:


	Consolidated Statement of Operations and Statement of Comprehensive Loss	Year Ended December 31,
			2021
			(In thousands)
Gains recognized in OCI	Net change in market value of effective foreign currency forward exchange contracts		$	294
Losses recognized in income due to instruments maturing	Cost of revenue		$	7,545

Right-of-Use Assets and Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease, Cost

Supplemental cash flow and other information related to operating leases was as follows:


	Year Ended December 31,
	2021			2020
Operating cash flows paid for amounts included in operating lease liabilities (in thousands)	$	60,085		$	46,895
Weighted average remaining lease term (in years)	5.5			6.0
Weighted average discount rate	4.5		%	4.8		%

Lessee, Operating Lease, Liability, Maturity

Maturities of operating lease liabilities were as follows:


	As of December 31, 2021
Year Ended December 31,	(In thousands)
2022	$	63,086
2023	57,173
2024	50,742
2025	37,621
2026	34,827
Thereafter	54,760
Total lease payments	298,209
Less: imputed interest	(34,631)
Total operating lease obligations	263,578
Less: current obligations	(52,325)
Long-term operating lease obligations	$	211,253

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Purchase price components

The purchase price components, as adjusted, are summarized in the following table:


	Total
	(In thousands)
Fair value of Class A common stock transferred	$	419,197
Cash consideration	418,073
Fair value of the pre-combination service through equity awards	1,511
Total purchase price	$	838,781

The purchase price components, as adjusted, are summarized in the following table:


	Total
	(In thousands)
Fair value of Class A common stock transferred	$	2,532,329
Cash consideration	415,899
Fair value of the pre-combination service through equity awards	38,972
Total purchase price	$	2,987,200

Schedule of purchase price allocation

The following table presents the purchase price allocation, as adjusted, recorded in the Company's consolidated balance sheet as of December 31, 2021:


	Total
	(In thousands)
Cash and cash equivalents	$	21,610
Accounts receivable and other current assets	11,481
Property and equipment, net	2,950
Operating right-of-use asset	23,545
Intangible assets (1)	244,500
Other assets	370
Goodwill	600,403
Accounts payable and other liabilities	(20,239)
Deferred revenue	(4,526)
Operating lease liability, noncurrent	(23,169)


Deferred tax liability	(18,144)
Total purchase price	$	838,781

____________________________________

(1) Identifiable intangible assets are comprised of the following:


	Total		Estimated life
	(In thousands)		(In years)
Developed technology	$	56,800	7
Customer relationships	147,700		10
Supplier relationships	39,600		5
Trade names	400		5
Total intangible assets acquired	$	244,500

The following table presents the purchase price allocation, as adjusted:


	Total
	(In thousands)
Cash and cash equivalents	$	93,170
Accounts receivable and other current assets	90,635
Property and equipment, net	5,081
Operating right-of-use asset	53,630
Intangible assets (1)	595,000
Other assets	4,869
Goodwill	2,299,016
Accounts payable and other liabilities	(24,263)
Deferred revenue	(50,005)
Operating lease liability	(58,206)


Deferred tax liability	(21,728)
Total purchase price	$	2,987,200

____________________________________

(1) Identifiable intangible assets are comprised of the following:


	Total		Estimated life
	(In thousands)		(In years)
Developed technology	$	390,000	7
Customer relationships	190,000		6
Order backlog	10,000		1
Trade names	5,000		5
Total intangible assets acquired	$	595,000

Schedule of pro forma information

The following table presents the unaudited pro forma condensed combined financial information:


	Year Ended December 31,
	2020		2019
	(Unaudited, in thousands)
Revenue	$	1,874,720	$	1,217,502
Net loss attributable to common stockholders	$	(655,355)	$	(576,962)

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill balance

Goodwill balance as of December 31, 2021 and 2020, was as follows:


	Total
	(In thousands)
Balance as of December 31, 2019	$	2,296,784
Goodwill additions related to 2020 acquisitions	2,303,780
Measurement period adjustments	(5,170)

Balance as of December 31, 2020	$	4,595,394
Goodwill additions related to 2021 acquisitions	663,599
Measurement period adjustments	4,173
Balance as of December 31, 2021	$	5,263,166

Schedule of intangible assets

Intangible assets consisted of the following:


	As of December 31, 2021
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	794,831	$	(222,765)	$	572,066
Customer relationships	538,264		(128,035)		410,229
Supplier relationships	51,671		(9,491)		42,180
Trade names	30,669		(13,874)		16,795
Order backlog	10,000		(10,000)		—
Patent	4,035		(508)		3,527

Total amortizable intangible assets	1,429,470		(384,673)		1,044,797
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920

Trademarks and other	295		—		295
Total	$	1,434,685	$	(384,673)	$	1,050,012


	As of December 31, 2020
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	724,599	$	(113,282)	$	611,317
Customer relationships	379,344		(59,574)		319,770
Supplier relationships	4,356		(3,044)		1,312
Trade names	25,560		(7,921)		17,639
Order backlog	10,000		(1,667)		8,333
Patent	3,360		(373)		2,987
Total amortizable intangible assets	1,147,219		(185,861)		961,358
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920
Trademarks and other	295		—		295
Total	$	1,152,434	$	(185,861)	$	966,573

Schedule of total estimated future amortization expense

Total estimated future amortization expense is as follows:


	As of December 31, 2021
Year Ended December 31,	(In thousands)
2022	$	204,837
2023	201,527
2024	195,953
2025	192,379
2026	119,045
Thereafter	131,056
Total	$	1,044,797

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Accrued Liabilities and Other Liabilities [Abstract]

Schedule of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of December 31,
	2021		2020
	(In thousands)
Accrued payroll and related	$	78,780	$	54,683
Accrued bonus and commission	64,665		25,341
Accrued cost of revenue	118,004		80,620
Sales and other taxes payable	61,975		48,390
ESPP contributions	10,284		6,272



Finance lease liability, current	12,370		9,062
Accrued other expense	71,425		28,527
Total accrued expenses and other current liabilities	$	417,503	$	252,895

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2021

Long-term Debt, Unclassified [Abstract]

Schedule of net carrying amount of the liability and equity components of the Notes

Long-term debt consisted of the following:



	As of December 31,
	2021		2020
	(In thousands)
2029 and 2031 Senior Notes
2029 Senior Notes
Principal	$	500,000	$	—
Unamortized discount	(5,701)		—
Unamortized issuance costs	(1,286)		—
Net carrying amount	493,013		—
2031 Senior Notes
Principal	500,000		—
Unamortized discount	(5,832)		—
Unamortized issuance costs	(1,274)		—
Net carrying amount	492,894		—
Convertible Senior Notes and Capped Call Transactions
Convertible Senior Notes
Principal	—		343,702
Unamortized discount	—		(38,406)
Unamortized issuance costs	—		(3,228)
Net carrying amount	—		302,068
Total long-term debt	$	985,907	$	302,068

The net carrying amount of the equity component of the Convertible Notes was as follows:


	As of December 31,
	2021		2020
	(In thousands)
Proceeds allocated to the conversion options (debt discount)	$	—	$	74,636
Issuance costs	(2,819)		(2,819)
Net carrying amount	$	(2,819)	$	71,817

Supplemental Balance Sheet Information (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of the sales credit reserve

A roll‑forward of the Company’s customer credit reserve is as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Balance, beginning of period	$	16,783	$	6,784	$	3,015
Additions	55,937		50,817		18,143
Deductions against reserve	(54,143)		(40,818)		(14,374)
Balance, end of period	$	18,577	$	16,783	$	6,784

Revenue by Geographic Area (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of revenue by geographic area

Revenue by geographic area is based on the IP address or the mailing address at the time of registration. The following table sets forth revenue by geographic area:


	Year Ended December 31,
	2021		2020		2019
Revenue by geographic area:	(In thousands)
United States	$	1,881,873	$	1,282,213	$	808,857
International	959,966		479,563		325,611
Total	$	2,841,839	$	1,761,776	$	1,134,468


Percentage of revenue by geographic area:
United States	66	%	73	%	71	%
International	34	%	27	%	29	%

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Unrecorded Unconditional Purchase Obligations Disclosure

Future minimum payments under these noncancellable purchase commitments were as follows. Unrecognized tax benefits are not included in these amounts because any amounts expected to be settled in cash are not material:


	As of December 31, 2021
Year Ending December 31,	(In thousands)
2022	$	213,106
2023	222,852
2024	35,066
2025	561


Total payments	$	471,585

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of reserved shares of common stock for issuance

The Company had reserved shares of common stock for issuance as follows:


	As of December 31,
	2021	2020
Stock options issued and outstanding	3,351,313	5,625,735
Unvested restricted stock units issued and outstanding	6,475,700	7,523,882
Class A common stock reserved for Twilio.org	618,857	707,265
Stock-based awards available for grant under 2016 Plan	24,650,104	18,942,205
Stock-based awards available for grant under ESPP	6,382,830	4,941,281
Class A common stock reserved for the Convertible Notes	—	7,569,731
Total	41,478,804	45,310,099

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of stock options activity


	Number of options outstanding	Weighted- average exercise price (Per share)		Weighted- average remaining contractual term (In years)	Aggregate intrinsic value (In thousands)
Outstanding options as of December 31, 2020	5,070,735	$	51.71	6.85	$	1,454,222
Granted	350,208	343.94
Assumed in acquisition	83,539	49.26
Exercised	(1,733,819)	40.44
Forfeited and canceled	(419,350)	131.01
Outstanding options as of December 31, 2021	3,351,313	$	78.10	6.09	$	646,760
Options vested and exercisable as of December 31, 2021	2,152,819	$	37.21	4.92	$	490,502

Schedule of weighted average grant date fair value


	Year Ended December 31,
	2021		2020		2019
	(In thousands, except per share amounts)
Aggregate intrinsic value of stock options exercised (1)	$	508,539	$	603,597	$	394,998
Total estimated grant date fair value of options vested	$	138,851	$	107,854	$	81,292
Weighted-average grant date fair value per share of options granted	$	216.29	$	170.70	$	58.13

Schedule of restricted stock unit activity


	Number of awards outstanding	Weighted- average grant date fair value (Per share)		Aggregate intrinsic value (In thousands)
Unvested RSUs as of December 31, 2020	7,523,882	$	131.76	$	2,542,858
Granted	3,465,980	328.38
Vested	(3,493,652)	114.70
Forfeited and canceled	(1,020,510)	$	188.76
Unvested RSUs as of December 31, 2021	6,475,700	$	237.22	$	1,705,311

Schedule of valuation assumptions, options

The fair value of employee stock options was estimated on the date of grant using the following assumptions in the Black-Scholes option pricing model:


	Year Ended December 31,
Employee Stock Options:	2021	2020	2019
Fair value of common stock	$268.55 - $409.21	$108.37 - $301.72	$103.70 - $130.70
Expected term (in years)	0.30 - 6.39	0.52 - 6.08	0.33 - 6.08
Expected volatility	42.9% - 61.5%	51.9% - 65.1%	49.0% - 66.5%
Risk-free interest rate	0.1% - 1.4%	0.1% - 1.4%	1.6% - 2.5%
Dividend rate	—%	—%	—%

Schedule of valuation assumptions, ESOP


	Year Ended December 31,
Employee Stock Purchase Plan:	2021	2020	2019
Expected term (in years)	0.50	0.50	0.49 - 0.50
Expected volatility	46.4% - 58.7%	54.4% - 72.1%	43.1% - 50.3%
Risk-free interest rate	—% - 0.1%	0.1% - 0.2%	1.6% - 2.4%
Dividend rate	—%	—%	—%

Schedule of stock based compensation expense

The Company recorded total stock-based compensation expense as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Cost of revenue	$	14,074	$	8,857	$	7,123
Research and development	258,672		173,303		126,012
Sales and marketing	213,351		103,450		60,886
General and administrative	146,188		76,301		70,297
Total	$	632,285	$	361,911	$	264,318

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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 loss per share attributable to common stockholders during the periods presented:


	Year Ended December 31,
	2021		2020		2019

Net loss attributable to common stockholders (in thousands)	$	(949,900)	$	(490,979)	$	(307,063)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted	174,180,465		146,708,663		130,083,046
Net loss per share attributable to common stockholders, basic and diluted	$	(5.45)	$	(3.35)	$	(2.36)

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


	As of December 31,
	2021	2020	2019
Stock options issued and outstanding	3,351,313	5,625,735	7,705,848
Restricted stock units issued and outstanding	6,475,700	7,523,882	8,490,517
Class A common stock reserved for Twilio.org	618,857	707,265	795,673
Class A common stock committed under ESPP	147,947	103,703	207,792
Convertible Notes(1)	—	4,847,578	3,150,647
Class A common stock in escrow	75,506	75,612	—
Class A common stock in escrow and restricted stock awards subject to future vesting	235,054	268,030	—

Total	10,904,377	19,151,805	20,350,477

____________________________________

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following table presents domestic and foreign components of loss before income taxes for the periods presented:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
United States	$	(737,360)	$	(403,148)	$	(328,902)
International	(223,569)		(101,278)		(33,314)
Loss before provision for income taxes	$	(960,929)	$	(504,426)	$	(362,216)

Schedule of Components of Income Tax Expense (Benefit)

Benefit for income taxes consists of the following:


	Year Ended December 31,
	2021		2020		2019
Current:	(In thousands)
Federal	$	122	$	—	$	—
State	420		272		198
Foreign	8,274		5,215		2,684
Total	8,816		5,487		2,882
Deferred:
Federal	(13,772)		(12,719)		(49,393)
State	(4,083)		(3,563)		(7,474)
Foreign	(1,990)		(2,652)		(1,168)
Total	(19,845)		(18,934)		(58,035)
Income tax benefit	$	(11,029)	$	(13,447)	$	(55,153)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the statutory federal tax rate and the Company's effective tax rate:


	Year Ended December 31,
	2021		2020		2019
Tax benefit at federal statutory rate	21	%	21	%	21	%
State tax, net of federal benefit	8		12		8
Stock-based compensation	16		24		14
Credits	4		3		4
Foreign rate differential	(1)		(4)		(2)
Permanent book vs. tax differences	—		(1)		—
Change in valuation allowance	(46)		(51)		(29)

Other	—		—		(1)
Effective tax rate	2	%	4	%	15	%

Schedule of Deferred Tax Assets and Liabilities

The following table presents the significant components of the Company's deferred tax assets and liabilities:


	As of December 31,
	2021		2020
Deferred tax assets:	(In thousands)
Net operating loss carryforwards	$	1,054,585	$	656,755
Accrued and prepaid expenses	24,831		15,408
Stock-based compensation	44,261		32,900
Research and development credits	148,282		92,899
Charitable contributions	15,219		8,229
Capped call	—		4,475
Debt issuance cost	—		230
Depreciable property	3,675		—
Intangibles	135,500		135,500
Lease liability	71,651		68,566
Other	14,567		—
Gross deferred tax assets	1,512,571		1,014,962
Valuation allowance	(1,136,827)		(677,782)
Net deferred tax assets	375,744		337,180
Deferred tax liabilities:
Capitalized software	(28,825)		(19,174)
Prepaid expenses	(1,649)		(450)
Acquired intangibles	(251,034)		(231,379)
Property and equipment	—		(85)
Convertible debt	—		(9,495)
Right-of-use asset	(64,277)		(66,243)
Deferred commissions	(47,897)		(21,162)
Other	—		(2,876)
Net deferred tax liability	$	(17,938)	$	(13,684)

Summary of Operating Loss Carryforwards

The following table summarizes our tax carryforwards, carryovers, and credits:


	As of December 31, 2021		Expiration Date (If not utilized)
	(In thousands)
Federal net operating loss carryforwards	$	320,167	Various dates beginning in 2029
Federal tax credits	$	132,920	Various dates beginning in 2029
Federal net operating loss carryforwards	$	3,906,263	Indefinite
State net operating loss carryforwards	$	2,737,083	Various dates beginning in 2025
State tax credits	$	84,858	Indefinite
Foreign net operating loss carryforwards	$	268,653	Indefinite

Summary of Tax Credit Carryforwards

The following table summarizes our tax carryforwards, carryovers, and credits:


	As of December 31, 2021		Expiration Date (If not utilized)
	(In thousands)
Federal net operating loss carryforwards	$	320,167	Various dates beginning in 2029
Federal tax credits	$	132,920	Various dates beginning in 2029
Federal net operating loss carryforwards	$	3,906,263	Indefinite
State net operating loss carryforwards	$	2,737,083	Various dates beginning in 2025
State tax credits	$	84,858	Indefinite
Foreign net operating loss carryforwards	$	268,653	Indefinite

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Unrecognized tax benefit, beginning of year	$	191,183	$	49,042	$	15,635
Gross increases for tax positions of prior years	3,496		4,259		12,939
Gross decrease for tax positions of prior years	(10,693)		(931)		(395)
Gross increases for tax positions of current year	39,394		138,813		20,863

Unrecognized tax benefit, end of year	$	223,380	$	191,183	$	49,042

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Sales Commissions
Revenue, remaining performance obligation, amount	$ 154.2
Deferred revenue	141.5	$ 87.2
Revenue recognized out of adjusted deferred revenue balance	$ 70.1	$ 19.5	$ 18.7
Usage Based Contracts \| Revenue Benchmark \| Product Concentration Risk
Deferred Sales Commissions
Percentage of revenue	72.00%	76.00%	75.00%
Non-Usage Based Contracts \| Revenue Benchmark \| Product Concentration Risk
Deferred Sales Commissions
Percentage of revenue	28.00%	24.00%	25.00%
Minimum \| Non-Usage Based Contracts
Deferred Sales Commissions
Revenue recognized, period for recognition	1 year
Maximum \| Non-Usage Based Contracts
Deferred Sales Commissions
Revenue recognized, period for recognition	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Deferred Sales Commissions
Revenue, remaining performance obligation, percentage	62.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Deferred Sales Commissions
Revenue, remaining performance obligation, percentage	92.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months

Summary of Significant Accounting Policies - Deferred Sales Commissions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Sales Commissions
Total net capitalized costs	$ 193,400	$ 85,600
Amortization of deferred commissions	$ 31,541	$ 13,322	$ 4,511
Incremental commission costs of obtaining new contracts
Deferred Sales Commissions
Amortization period for deferred incremental commission costs of obtaining new contracts	5 years

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) vote reportingUnit shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)
Acquired Indefinite-lived Intangible Assets [Line Items]
Capitalized computer software, amortization period	3 years
Advertising expense	$ 78,800,000	$ 47,200,000	$ 27,000,000
Preferred stock, authorized (in shares) \| shares	100,000,000	100,000,000
Number of reporting units \| reportingUnit	1
Goodwill, impairment loss	$ 0	$ 0	0
Impairment of long-lived assets		$ 0	$ 0
Common Stock Class A
Acquired Indefinite-lived Intangible Assets [Line Items]
Votes per share \| vote	1
Common Stock Class B
Acquired Indefinite-lived Intangible Assets [Line Items]
Votes per share \| vote	10
Conversion ratio	1

Summary of Significant Accounting Policies - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2021
Developed technology \| Minimum
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	3 years
Developed technology \| Maximum
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	7 years
Customer relationships \| Minimum
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	2 years
Customer relationships \| Maximum
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	10 years
Supplier relationships \| Minimum
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	2 years
Supplier relationships \| Maximum
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	5 years
Trade names
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	5 years
Order backlog
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	1 year
Patent
Property, Plant and Equipment [Line Items]
Intangible assets, estimated life	20 years
Capitalized internal-use software development costs
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	3 years
Data center equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	2 years
Data center equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	4 years
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	5 years
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	3 years
Assets held under capital leases
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated life	5 years

Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	$ 832,624	$ 658,749
Amortized Cost or Carrying Value	3,897,272	2,097,504
Gross Unrealized Gains	966	8,538
Gross Unrealized Losses	(19,808)	(136)
Marketable securities, aggregate fair value	3,878,430	2,105,906
Total financial assets	4,729,896	2,756,253
Total financial assets	4,711,054	2,764,655
Level 1
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	786,548	656,749
Marketable securities, aggregate fair value	624,036	273,635
Total financial assets	1,410,584	930,384
Level 2
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	46,076	2,000
Marketable securities, aggregate fair value	3,254,394	1,832,271
Total financial assets	3,300,470	1,834,271
Level 3
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	0	0
Marketable securities, aggregate fair value	0	0
Total financial assets	0	0
U.S. Treasury securities
Fair Value Measurements, Financial Assets
Amortized Cost or Carrying Value	375,305	223,247
Gross Unrealized Gains	6	389
Gross Unrealized Losses	(2,561)	(1)
Marketable securities, aggregate fair value	372,750	223,635
U.S. Treasury securities \| Level 1
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	372,750	223,635
U.S. Treasury securities \| Level 2
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0	0
U.S. Treasury securities \| Level 3
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0	0
Non-U.S. government securities
Fair Value Measurements, Financial Assets
Amortized Cost or Carrying Value	221,641
Gross Unrealized Gains	0
Gross Unrealized Losses	(1,355)
Marketable securities, aggregate fair value	220,286
Non-U.S. government securities \| Level 1
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	220,286
Non-U.S. government securities \| Level 2
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0
Non-U.S. government securities \| Level 3
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0
Corporate debt securities and commercial paper
Fair Value Measurements, Financial Assets
Amortized Cost or Carrying Value	3,300,326	1,874,257
Gross Unrealized Gains	960	8,149
Gross Unrealized Losses	(15,892)	(135)
Marketable securities, aggregate fair value	3,285,394	1,882,271
Corporate debt securities and commercial paper \| Level 1
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	31,000	50,000
Corporate debt securities and commercial paper \| Level 2
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	3,254,394	1,832,271
Corporate debt securities and commercial paper \| Level 3
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0	0
Money market funds
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	786,548	656,749
Money market funds \| Level 1
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	786,548	656,749
Money market funds \| Level 2
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	0	0
Money market funds \| Level 3
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	0	0
Commercial paper
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	46,076	2,000
Commercial paper \| Level 1
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	0	0
Commercial paper \| Level 2
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	46,076	2,000
Commercial paper \| Level 3
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	$ 0	$ 0

Fair Value Measurements - Narrative (Details) - USD ($)	12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest earned on marketable securities	$ 55,700,000	$ 32,400,000	$ 20,800,000
Investment in equity securities, carrying value	68,300,000	9,300,000
Impairment of long-lived assets		0	$ 0
Senior Notes 3.625 Percent Due 2029 \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the notes	510,200,000
Senior Notes 3.875 Percent Due 2031 \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the notes	$ 512,800,000
Convertible senior notes due 2023 \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the notes		$ 1,700,000,000

Fair Value Measurements - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Less than one year, amortized cost	$ 1,084,751	$ 1,126,091
One to three years, amortized cost	2,812,521	971,413
Amortized Cost or Carrying Value	3,897,272	2,097,504
Less than one year, aggregate fair value	1,085,006	1,128,927
One to three years, aggregate fair value	2,793,424	976,979
Total aggregate fair value	$ 3,878,430	$ 2,105,906

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property and Equipment
Total property and equipment	$ 446,334	$ 313,323
Less: accumulated depreciation and amortization	(191,018)	(130,084)
Total property and equipment, net	255,316	183,239
Capitalized internal-use software development costs
Property and Equipment
Total property and equipment	198,589	142,489
Data center equipment
Property and Equipment
Total property and equipment	77,946	43,477
Finance lease asset	63,000	40,800
Finance lease asset, accumulated amortization	26,800	15,000
Leasehold improvements
Property and Equipment
Total property and equipment	85,297	69,756
Office equipment
Property and Equipment
Total property and equipment	58,636	35,346
Furniture and fixtures
Property and Equipment
Total property and equipment	15,360	12,312
Software
Property and Equipment
Total property and equipment	$ 10,506	$ 9,943

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 59.6	$ 51.1	$ 37.5
Capitalized internal use software development costs	$ 63.1	$ 47.1	$ 29.7

Derivatives and Hedging - Narrative (Details) - Foreign Currency Forward - Designated as Cash Flow Hedges - Cash Flow Hedge $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative, term of contract	12 months
Buy
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative, notional amount	$ 276.2
Sell
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative, notional amount	$ 243.1

Derivatives and Hedging - Gains (Losses) Associated With Foreign Currency Forward Contracts (Details) - Foreign Currency Forward $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Foreign Currency Fair Value Hedge Derivative [Line Items]
Losses recognized in OCI	$ 294
Cost of revenue
Foreign Currency Fair Value Hedge Derivative [Line Items]
Losses recognized in income due to instruments maturing	$ 7,545

Right-of-Use Assets and Lease Liabilities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Number of leased properties \| property	31
Renewal option	5 years
Operating lease, cost \| $	$ 61.0	$ 49.3
Minimum
Lessee, Lease, Description [Line Items]
Term of lease	1 month 6 days
Maximum
Lessee, Lease, Description [Line Items]
Term of lease	7 years 9 months 18 days

Right-of-Use Assets and Lease Liabilities - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows paid for amounts included in operating lease liabilities	$ 60,085	$ 46,895
Weighted average remaining lease term	5 years 6 months	6 years
Weighted average discount rate	4.50%	4.80%

Right-of-Use Assets and Lease Liabilities - Lease Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 63,086
2023	57,173
2024	50,742
2025	37,621
2026	34,827
Thereafter	54,760
Total lease payments	298,209
Less: imputed interest	(34,631)
Total operating lease obligations	263,578
Less: current obligations	(52,325)	$ (48,338)
Long-term operating lease obligations	$ 211,253	$ 229,905

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Jul. 31, 2021	Nov. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisition
Fair value of the pre-combination service through equity awards			$ 1,511	$ 38,972	$ 182,554
Goodwill			5,263,166	4,595,394	2,296,784
Zipwhip
Acquisition
Purchase price, as adjusted	$ 838,781
Cash consideration	418,073
Fair value of Class A common stock transferred	$ 419,197
Shares issuable as part of acquisition (in shares)	1,200,000
Fair value of the pre-combination service through equity awards	$ 1,511
Business combination, contingent consideration	$ 19,100
Business combination, contingent consideration. term	3 years
Fair value of unvested employee shares	$ 30,700
Deferred tax liability			18,144
Revenues			55,400
Goodwill			600,403
Intangible assets			244,500
Zipwhip \| Developed technology
Acquisition
Intangible assets			56,800
Segment.io Inc.
Acquisition
Purchase price, as adjusted		$ 2,987,200
Cash consideration		415,899
Fair value of Class A common stock transferred		$ 2,532,329
Shares issuable as part of acquisition (in shares)		9,500,000
Fair value of the pre-combination service through equity awards		$ 38,972
Deferred tax liability				21,728
Revenues			200,900
Acquisition related costs				79,300	$ 20,800
Goodwill				2,299,016
Intangible assets				595,000
Fair value of Class A common stock transferred including unvested stock		$ 2,600,000
Shares issuable as part of acquisition, excluding shares held in escrow (in shares)		9,300,000
Segment.io Inc. \| Developed technology
Acquisition
Intangible assets				390,000
Other Acquisitions
Acquisition
Purchase price, as adjusted			105,000
Cash consideration				13,000
Goodwill			63,200
Other Acquisitions \| Other Intangible Assets
Acquisition
Intangible assets			23,600
Other Acquisitions \| Developed technology
Acquisition
Intangible assets			$ 13,400
General and administrative \| Segment.io Inc.
Acquisition
Acquisition related costs				$ 20,800
Equity Award \| Segment.io Inc.
Acquisition
Fair value of unvested employee shares		$ 245,300
Common Stock Class A \| Zipwhip
Acquisition
Shares issuable as part of acquisition (in shares)	1,100,000
Shares subject to future vesting conditions (in shares)	59,533
Weighted average remaining contractual term	3 years
Common Stock Class A \| Segment.io Inc.
Acquisition
Shares subject to future vesting conditions (in shares)		258,554	150,824
Weighted average remaining contractual term		2 years 4 months 28 days
Shares subject to future vesting conditions, value		$ 70,700

Business Combinations - Purchase Price Components (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Jul. 31, 2021	Nov. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Fair value of the pre-combination service through equity awards			$ 1,511	$ 38,972	$ 182,554
Zipwhip
Business Acquisition [Line Items]
Fair value of Class A common stock transferred	$ 419,197
Cash consideration	418,073
Fair value of the pre-combination service through equity awards	1,511
Total purchase price	$ 838,781
Segment.io Inc.
Business Acquisition [Line Items]
Fair value of Class A common stock transferred		$ 2,532,329
Cash consideration		415,899
Fair value of the pre-combination service through equity awards		38,972
Total purchase price		$ 2,987,200

Business Combinations - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisition
Goodwill	$ 5,263,166	$ 4,595,394	$ 2,296,784
Segment.io Inc.
Acquisition
Cash and cash equivalents		93,170
Accounts receivable and other current assets		90,635
Property and equipment, net		5,081
Operating right-of-use asset		53,630
Intangible assets		595,000
Other assets		4,869
Goodwill		2,299,016
Accounts payable and other liabilities		(24,263)
Deferred revenue		(50,005)
Operating lease liability		(58,206)
Deferred tax liability		(21,728)
Total purchase price		2,987,200
Other Acquisitions
Acquisition
Goodwill	63,200
Zipwhip
Acquisition
Cash and cash equivalents	21,610
Accounts receivable and other current assets	11,481
Property and equipment, net	2,950
Operating right-of-use asset	23,545
Intangible assets	244,500
Other assets	370
Goodwill	600,403
Accounts payable and other liabilities	(20,239)
Deferred revenue	(4,526)
Operating lease liability	(23,169)
Deferred tax liability	(18,144)
Total purchase price	838,781
Developed technology \| Segment.io Inc.
Acquisition
Intangible assets		$ 390,000
Developed technology \| Other Acquisitions
Acquisition
Intangible assets	13,400
Developed technology \| Zipwhip
Acquisition
Intangible assets	$ 56,800

Business Combinations - Identifiable Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Order backlog
Acquisitions
Intangible assets, estimated life	1 year
Trade names
Acquisitions
Intangible assets, estimated life	5 years
Zipwhip
Acquisitions
Intangible assets	$ 244,500
Zipwhip \| Developed technology
Acquisitions
Intangible assets	$ 56,800
Intangible assets, estimated life	7 years
Zipwhip \| Customer relationships
Acquisitions
Intangible assets	$ 147,700
Intangible assets, estimated life	10 years
Zipwhip \| Supplier relationships
Acquisitions
Intangible assets	$ 39,600
Intangible assets, estimated life	5 years
Zipwhip \| Trade names
Acquisitions
Intangible assets	$ 400
Intangible assets, estimated life	5 years
Other Acquisitions \| Developed technology
Acquisitions
Intangible assets	$ 13,400
Segment.io Inc.
Acquisitions
Intangible assets		$ 595,000
Segment.io Inc. \| Developed technology
Acquisitions
Intangible assets		$ 390,000
Intangible assets, estimated life		7 years
Segment.io Inc. \| Customer relationships
Acquisitions
Intangible assets		$ 190,000
Intangible assets, estimated life		6 years
Segment.io Inc. \| Order backlog
Acquisitions
Intangible assets		$ 10,000
Intangible assets, estimated life		1 year
Segment.io Inc. \| Trade names
Acquisitions
Intangible assets		$ 5,000
Intangible assets, estimated life		5 years

Business Combinations - Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Valuation allowance increase (decrease)	$ 459,000	$ 421,900
Tax benefit related to release of valuation allowance	$ 17,236	16,459	$ 55,745
Segment.io Inc.
Business Acquisition [Line Items]
Acquisition related costs		79,300	20,800
Valuation allowance increase (decrease)		(13,800)
Tax benefit related to release of valuation allowance			38,100
Unrecognized tax benefits, ongoing			7,500
Revenue		1,874,720	1,217,502
Net loss attributable to common stockholders		$ (655,355)	$ (576,962)

Goodwill and Intangible Assets - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill
Balance (beginning of period)	$ 4,595,394	$ 2,296,784
Goodwill additions related to acquisitions	663,599	2,303,780
Measurement period adjustments	4,173	(5,170)
Balance (end of period)	$ 5,263,166	$ 4,595,394

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortizable intangible assets:
Gross	$ 1,429,470	$ 1,147,219
Accumulated Amortization	(384,673)	(185,861)
Net	1,044,797	961,358
Intangible assets, gross	1,434,685	1,152,434
Total	1,050,012	966,573
Telecommunication licenses
Amortizable intangible assets:
Non-amortizable intangible assets:	4,920	4,920
Trademarks and other
Amortizable intangible assets:
Non-amortizable intangible assets:	295	295
Developed technology
Amortizable intangible assets:
Gross	794,831	724,599
Accumulated Amortization	(222,765)	(113,282)
Net	572,066	611,317
Customer relationships
Amortizable intangible assets:
Gross	538,264	379,344
Accumulated Amortization	(128,035)	(59,574)
Net	410,229	319,770
Supplier relationships
Amortizable intangible assets:
Gross	51,671	4,356
Accumulated Amortization	(9,491)	(3,044)
Net	42,180	1,312
Trade names
Amortizable intangible assets:
Gross	30,669	25,560
Accumulated Amortization	(13,874)	(7,921)
Net	16,795	17,639
Order backlog
Amortizable intangible assets:
Gross	10,000	10,000
Accumulated Amortization	(10,000)	(1,667)
Net	0	8,333
Patent
Amortizable intangible assets:
Gross	4,035	3,360
Accumulated Amortization	(508)	(373)
Net	$ 3,527	$ 2,987

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 198.8	$ 98.6	$ 72.9

Goodwill and Intangible Assets - Total Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets
2022	$ 204,837
2023	201,527
2024	195,953
2025	192,379
2026	119,045
Thereafter	131,056
Net	$ 1,044,797	$ 961,358

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Accrued payroll and related	$ 78,780	$ 54,683
Accrued bonus and commission	64,665	25,341
Accrued cost of revenue	118,004	80,620
Sales and other taxes payable	61,975	48,390
ESPP contributions	10,284	6,272
Finance lease liability, current	$ 12,370	$ 9,062
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities
Accrued other expense	$ 71,425	$ 28,527
Total accrued expenses and other current liabilities	$ 417,503	$ 252,895

Notes Payable - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Net carrying amount	$ 985,907	$ 302,068
Senior Notes 3.625 Percent Due 2029
Debt Instrument [Line Items]
Principal	500,000	0
Unamortized discount	(5,701)	0
Unamortized issuance costs	(1,286)	0
Net carrying amount	493,013	0
Senior Notes 3.875 Percent Due 2031
Debt Instrument [Line Items]
Principal	500,000	0
Unamortized discount	(5,832)	0
Unamortized issuance costs	(1,274)	0
Net carrying amount	492,894	0
Convertible Senior Notes Due2023
Debt Instrument [Line Items]
Principal	0	343,702
Unamortized discount	0	(38,406)
Unamortized issuance costs	0	(3,228)
Net carrying amount	$ 0	$ 302,068

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Notes Payable - Narrative (Details)	1 Months Ended			12 Months Ended
Notes Payable - Narrative (Details)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	May 31, 2018 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) D $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Debt conversion, converted instrument, amount including cash				$ 1,700,000,000	$ 894,600,000
Carrying amount of equity component				1,400,000,000	701,900,000
Debt instrument, liability component				335,700,000	192,700,000
Gain (loss) on extinguishment of debt				$ (28,965,000)	(12,863,000)	$ 0
Payment for debt settlement					$ 2,000,000
Common stock, par value (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Effective percentage					5.70%
Capped calls
Debt Instrument [Line Items]
Initial strike price (in dollars per share) \| $ / shares			$ 70.90
Initial cap price (in dollars per share) \| $ / shares			$ 105.04
Number of shares covered (in shares) \| shares			7,757,200
Common Stock Class A
Debt Instrument [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001	$ 0.001	$ 0.001
Common Stock Class A \| Common Stock
Debt Instrument [Line Items]
Equity component from partial settlement and redemption of convertible senior notes due 2023 (in shares) \| shares				4,846,965	2,902,434
Senior Notes 3.625 Percent Due 2029
Debt Instrument [Line Items]
Principal				$ 500,000,000	$ 0
Interest rate (as a percent)		3.625%
Unamortized issuance costs				$ (1,286,000)	0
Senior Notes 3.625 Percent Due 2029 \| Redemption Period One
Debt Instrument [Line Items]
Debt instrument, maximum redemption price as a percentage of principal 180 days after equity offer				40.00%
Debt instrument, minimum redemption price as a percentage of principal outstanding				50.00%
Senior Notes 3.625 Percent Due 2029 \| Redemption Period Two
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				101.813%
Senior Notes 3.625 Percent Due 2029 \| Redemption Period Three
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100.906%
Senior Notes 3.625 Percent Due 2029 \| Redemption Period Four
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100.00%
Senior Notes 3.625 Percent Due 2029 \| Maximum \| Redemption Period One
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				103.625%
Senior Notes 3.625 Percent Due 2029 \| Minimum \| Redemption Period One
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100.00%
Senior Notes 3.875 Percent Due 2031
Debt Instrument [Line Items]
Principal				$ 500,000,000	0
Interest rate (as a percent)		3.875%
Unamortized issuance costs				$ (1,274,000)	0
Senior Notes 3.875 Percent Due 2031 \| Redemption Period One
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				103.875%
Debt instrument, maximum redemption price as a percentage of principal 180 days after equity offer				40.00%
Debt instrument, minimum redemption price as a percentage of principal outstanding				50.00%
Senior Notes 3.875 Percent Due 2031 \| Redemption Period Two
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100.00%
Senior Notes 3.875 Percent Due 2031 \| Redemption Period Three
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				101.938%
Senior Notes 3.875 Percent Due 2031 \| Redemption Period Four
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				101.292%
Senior Notes 3.875 Percent Due 2031 \| Redemption Period Five
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100.646%
Senior Notes 3.875 Percent Due 2031 \| Redemption Period Six
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				100.00%
Senior Notes
Debt Instrument [Line Items]
Principal		$ 1,000,000,000
Net proceeds from the debt offering		984,700,000
Debt issuance costs, gross		$ 2,800,000
Senior Notes \| Change of control event
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				101.00%
Convertible Senior Notes0.25 Percent Due2023
Debt Instrument [Line Items]
Principal			$ 550,000,000
Net proceeds from the debt offering			$ 537,000,000
Debt settlement, amount					206,300,000
Threshold trading days \| D				20
Consecutive trading period \| D				30
Minimum sale price of stock as a percentage of the conversion price				130.00%
Number of consecutive trading days of threshold Notes trading price for conversion eligibility to follow \| D				5
Trading price as a percentage of the product of common stock sale price and conversion rate				98.00%
Convertible Senior Notes0.25 Percent Due2023 \| Common Stock Class A
Debt Instrument [Line Items]
Conversion ratio			14.104
Convertible senior notes due 2023
Debt Instrument [Line Items]
Interest rate (as a percent)			0.25%
Carrying amount of equity component				$ 0	74,636,000		$ 119,400,000
Unamortized issuance costs			$ (10,200,000)
Convertible Senior Notes Due2023
Debt Instrument [Line Items]
Principal				0	343,702,000
Debt settlement, amount				343,700,000
Gain (loss) on extinguishment of debt				(29,000,000)
Unamortized issuance costs				$ 0	$ (3,228,000)
Convertible senior notes, 0.25%, due 2023 - over-allotment
Debt Instrument [Line Items]
Principal			$ 75,000,000
Capped Call Arrangement
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ 3,200,000
Proceeds from settlements of capped call, net of settlement costs	229,800,000
Transaction costs for settlement of capped calls	$ 1,400,000

Notes Payable - Net Carrying Amount of Equity Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Debt Instrument [Line Items]
Proceeds allocated to the conversion options (debt discount)	$ 1,400,000	$ 701,900
Convertible senior notes due 2023
Debt Instrument [Line Items]
Proceeds allocated to the conversion options (debt discount)	0	74,636	$ 119,400
Issuance costs	(2,819)	(2,819)
Net carrying amount	$ 2,819	$ (71,817)

Supplemental Balance Sheet Information - Sales Credit Reserve (Details) - Sales credit reserve - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sales credit reserve
Balance, beginning of period	$ 16,783	$ 6,784	$ 3,015
Additions	55,937	50,817	18,143
Deductions against reserve	(54,143)	(40,818)	(14,374)
Balance, end of period	$ 18,577	$ 16,783	$ 6,784

Revenue by Geographic Area - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue by geographic area:
Revenue	$ 2,841,839	$ 1,761,776	$ 1,134,468
United States
Revenue by geographic area:
Revenue	1,881,873	1,282,213	808,857
International
Revenue by geographic area:
Revenue	$ 959,966	$ 479,563	$ 325,611

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue by Geographic Area - Percentage of Revenue by Geographic Area (Details) - Revenue from Contract with Customer Benchmark - Geographic Concentration Risk	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
United States
Percentage of revenue by geographic area:
Percentage of revenue	66.00%	73.00%	71.00%
International
Percentage of revenue by geographic area:
Percentage of revenue	34.00%	27.00%	29.00%

Commitments and Contingencies - Other Commitments (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2021
Long-term Purchase Commitment [Line Items]
2022		$ 213,106,000
2023		222,852,000
2024		35,066,000
2025		561,000
Total payments		471,585,000
Payments to acquire investments		$ 3,523,232,000	$ 1,636,590,000	$ 2,038,422,000
Syniverse
Long-term Purchase Commitment [Line Items]
Payments to acquire investments	$ 750,000,000
Common stock, value, subscriptions	750,000,000
Minimum
Long-term Purchase Commitment [Line Items]
Term of non-cancellable agreement		1 year
Minimum \| Syniverse
Long-term Purchase Commitment [Line Items]
Common stock, value, subscriptions	$ 500,000,000
Maximum
Long-term Purchase Commitment [Line Items]
Term of non-cancellable agreement		4 years
Maximum \| Syniverse
Long-term Purchase Commitment [Line Items]
Common stock, value, subscriptions					$ 750,000,000

Commitments and Contingencies - Legal Matters (Details) $ in Millions	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Taxes payable, jurisdictional estimate	$ 38.8

Commitments and Contingencies - Indemnification Agreements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Indemnification Agreement
Loss Contingencies [Line Items]
Loss contingency accrual	$ 0	$ 0

Commitments and Contingencies - Other taxes (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Taxes payable, jurisdictional estimate	$ 38.8
Accrued taxes	11.5
Domestic Tax Authority
Loss Contingencies [Line Items]
Taxes Payable	25.4	$ 25.6
Foreign Tax Authority
Loss Contingencies [Line Items]
Taxes Payable	$ 17.7	$ 9.6

Stockholders' Equity - Preferred Stock (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Preferred Stock
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Stockholders' Equity - Common Stock (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	May 31, 2018
Common Stock
Common stock, authorized (in shares)	1,100,000,000	1,100,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, issued (in shares)	180,468,099	164,047,524
Common stock, outstanding (in shares)	180,468,099	164,047,524
Common Stock Class A
Common Stock
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, issued (in shares)	170,625,994	153,496,222
Common stock, outstanding (in shares)	170,625,994	153,496,222
Common Stock Class B
Common Stock
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, issued (in shares)	9,842,105	10,551,302
Common stock, outstanding (in shares)	9,842,105	10,551,302

Stockholders' Equity - Common Stock Shares Reserved (Details) - shares	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity
Total (in shares)	41,478,804	45,310,099
2016 Stock Option and Incentive Plan
Stockholders' Equity
Stock-based awards available for grant under 2016 Plan (in shares)	24,650,104	18,942,205
Common Stock Class A
Stockholders' Equity
Class A common stock reserved for Twilio.org (in shares)	618,857	707,265
Class A common stock reserved for the Convertible Notes (in shares)	0	7,569,731
Stock options issued and outstanding
Stockholders' Equity
Stock options issued and outstanding (in shares)	3,351,313	5,625,735
Restricted stock units issued and outstanding
Stockholders' Equity
Unvested restricted stock units issued and outstanding (in shares)	6,475,700	7,523,882
Class A common stock committed under ESPP
Stockholders' Equity
Stock-based awards available for grant under 2016 Plan (in shares)	6,382,830	4,941,281

Stockholders' Equity Stockholders' Equity - Public Offering (Details) - Common Stock Class A - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Feb. 28, 2021	Aug. 31, 2020	Jun. 30, 2019
Class of Stock [Line Items]
Shares sold in offering (in shares)	4,312,500	5,819,838	8,064,515
Offering price per share (in dollars per share)	$ 409.60	$ 247.00	$ 124.00
Aggregate proceeds from stock offering	$ 1,800.0	$ 1,400.0	$ 979.0

Stock-Based Compensation - 2008 Stock Option Plan (Details)	Dec. 31, 2021 shares
2008 Stock Option Plan
Stock Based Compensation
Shares available for future issuance (in shares)	0

Stock-Based Compensation - 2016 Stock Option Plan (Details) - shares			12 Months Ended
	Jan. 01, 2021	Jan. 01, 2020	Dec. 31, 2021	Jun. 21, 2016
Stock Based Compensation
Vesting period			4 years
Employee and nonemployee stock options
Stock Based Compensation
Expiration term			10 years
2016 Stock Option and Incentive Plan
Stock Based Compensation
Maximum automatic annual increase as a percentage of outstanding common shares			5.00%
Increase in shares available for grant (in shares)	8,202,376	6,920,640
2016 Stock Option and Incentive Plan \| Common Stock Class A
Stock Based Compensation
Shares reserved for issuance (in shares)				11,500,000
2016 Stock Option and Incentive Plan \| Employee and nonemployee stock options
Stock Based Compensation
Minimum grant price as a percentage of fair market value per share of the underlying common stock on the date of grant (as a percent)			100.00%

Stock-Based Compensation - 2016 Employee Stock Purchase Plan (Details) - Class A common stock committed under ESPP - shares			12 Months Ended
	Jan. 01, 2021	Jan. 01, 2020	Dec. 31, 2021	Jun. 21, 2016
Stock Based Compensation
Maximum automatic annual increase (in shares)			1,800,000
Maximum automatic annual increase as a percentage of outstanding common shares			1.00%
Increase in shares available for grant (in shares)	1,640,475	1,384,128
Stock plan offering period			6 months
Common Stock Class A
Stock Based Compensation
Shares reserved for issuance (in shares)				2,400,000
Discount from market price, offering date (as a percent)			15.00%
Purchase price, percentage of fair market value (as a percent)			85.00%

Stock-Based Compensation - Stock Option Activity (Details) - Employee and nonemployee stock options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of options outstanding
Outstanding options as of the beginning of the period (in shares)	5,070,735
Granted (in shares)	350,208
Assumed in acquisition (in shares)	83,539
Exercised (in shares)	(1,733,819)
Forfeited and cancelled (in shares)	(419,350)
Outstanding options as of the end of the period (in shares)	3,351,313	5,070,735
Weighted- average exercise price (Per share)
Outstanding options as of the beginning of the period (in dollars per share)	$ 51.71
Granted (in dollars per share)	343.94
Assumed in acquisition (in dollars per share)	49.26
Exercised (in dollars per share)	40.44
Forfeited and cancelled (in dollars per share)	131.01
Outstanding options as of the end of the period (in dollars per share)	$ 78.10	$ 51.71
Weighted- average remaining contractual term (In years)
Weighted-average remaining contractual term (in years)	6 years 1 month 2 days	6 years 10 months 6 days
Aggregate intrinsic value	$ 646,760	$ 1,454,222
Options vested and exercisable and options vested and expected to vest
Options vested and exercisable - number of options outstanding (in shares)	2,152,819
Options vested and exercisable - weighted-average exercise price (in dollars per share)	$ 37.21
Options vested and exercisable - weighted-average remaining contractual term	4 years 11 months 1 day
Options vested and exercisable - aggregate intrinsic value	$ 490,502

Stock-Based Compensation - Stock Option Fair Value (Details) - Employee and nonemployee stock options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Based Compensation
Aggregate intrinsic value of stock options exercised	$ 508,539	$ 603,597	$ 394,998
Total estimated grant date fair value of options vested	$ 138,851	$ 107,854	$ 81,292
Weighted-average grant date fair value per share of options granted (in dollars per share)	$ 216.29	$ 170.70	$ 58.13

Stock-Based Compensation - Stock Options - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Performance-based stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options issued and outstanding (in shares)		555,000
Outstanding options (in dollars per share)		$ 31.72
Outstanding performance based options, aggregate intrinsic value		$ 170.3
Aggregate intrinsic value of stock options exercised	$ 140.2
Stock options issued and outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options issued and outstanding (in shares)	3,351,313	5,625,735
Unrecognized compensation cost, options	$ 151.5
Weighted-average period (in years)	2 years 2 months 12 days

Stock-Based Compensation - Restricted Stock Units Activity (Details) - Restricted stock units issued and outstanding - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of awards outstanding
Unvested RSUs at the beginning of the period (in shares)	7,523,882
Granted (in shares)	3,465,980
Vested (in shares)	(3,493,652)
Forfeited and canceled (in shares)	(1,020,510)
Unvested RSUs at the end of the period (in shares)	6,475,700
Weighted- average grant date fair value (Per share)
Unvested RSUs at the beginning of the period (in dollars per share)	$ 131.76
Granted (in dollars per share)	328.38
Vested (in dollars per share)	114.70
Forfeited and canceled (in dollars per share)	188.76
Unvested RSUs at the end of the period (in dollars per share)	$ 237.22
Aggregate intrinsic value
Aggregate intrinsic value	$ 1,705,311	$ 2,542,858

Stock-Based Compensation - Restricted Stock Units - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) shares
Restricted stock units issued and outstanding
Stock Based Compensation
Unrecognized compensation cost, other than options	$ 1,400.0
Weighted-average period (in years)	3 years 1 month 6 days
RSUs Subject To Future Vesting
Stock Based Compensation
Shares subject to future vesting conditions (in shares) \| shares	24,697
Unrecognized compensation cost, other than options	$ 60.1
Weighted-average period (in years)	2 years

Stock-Based Compensation - Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee stock options
Valuation Assumptions
Expected volatility, low end of range (as a percent)	42.90%	51.90%	49.00%
Expected volatility, high end of range (as a percent)	61.50%	65.10%	66.50%
Risk-free interest rate, low end of range (as a percent)	0.10%	0.10%	1.60%
Risk-free interest rate, high end of range (as a percent)	1.40%	1.40%	2.50%
Dividend rate (as a percent)	0.00%	0.00%	0.00%
Class A common stock committed under ESPP
Valuation Assumptions
Expected term (in years)	6 months
Expected volatility, low end of range (as a percent)	46.40%	54.40%	43.10%
Expected volatility, high end of range (as a percent)	58.70%	72.10%	50.30%
Risk-free interest rate, low end of range (as a percent)	0.00%	0.10%	1.60%
Risk-free interest rate, high end of range (as a percent)	0.10%	0.20%	2.40%
Dividend rate (as a percent)	0.00%	0.00%	0.00%
Minimum \| Employee stock options
Valuation Assumptions
Fair value of common stock (in dollars per share)	$ 268.55	$ 108.37	$ 103.70
Expected term (in years)	3 months 18 days	6 months 7 days	3 months 29 days
Minimum \| Class A common stock committed under ESPP
Valuation Assumptions
Expected term (in years)			5 months 26 days
Maximum \| Employee stock options
Valuation Assumptions
Fair value of common stock (in dollars per share)	$ 409.21	$ 301.72	$ 130.70
Expected term (in years)	6 years 4 months 20 days	6 years 29 days	6 years 29 days
Maximum \| Class A common stock committed under ESPP
Valuation Assumptions
Expected term (in years)		6 months	6 months

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock-Based Compensation Expense
Stock-based compensation expense	$ 632,285	$ 361,911	$ 264,318
Cost of revenue
Stock-Based Compensation Expense
Stock-based compensation expense	14,074	8,857	7,123
Research and development
Stock-Based Compensation Expense
Stock-based compensation expense	258,672	173,303	126,012
Sales and marketing
Stock-Based Compensation Expense
Stock-based compensation expense	213,351	103,450	60,886
General and administrative
Stock-Based Compensation Expense
Stock-based compensation expense	$ 146,188	$ 76,301	$ 70,297

Net Loss Per Share Attributable to Common Stockholders - Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Loss Per Share Attributable to Common Stockholders
Net loss attributable to common stockholders, basic (in thousands)	$ (949,900)	$ (490,979)	$ (307,063)
Net loss attributable to common stockholders, diluted (in thousands)	$ (949,900)	$ (490,979)	$ (307,063)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in shares)	174,180,465	146,708,663	130,083,046
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in shares)	174,180,465	146,708,663	130,083,046
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (5.45)	$ (3.35)	$ (2.36)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (5.45)	$ (3.35)	$ (2.36)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Net Loss Per Share Attributable to Common Stockholders - Anti-Dilutive Securities (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Anti-dilutive securities
Antidilutive securities (in shares)	10,904,377	19,151,805	20,350,477
Common Stock Class A
Anti-dilutive securities
Conversion price (in dollars per share)	$ 70.90
Stock options issued and outstanding
Anti-dilutive securities
Antidilutive securities (in shares)	3,351,313	5,625,735	7,705,848
Restricted stock units issued and outstanding
Anti-dilutive securities
Antidilutive securities (in shares)	6,475,700	7,523,882	8,490,517
Class A common stock reserved for Twilio.org
Anti-dilutive securities
Antidilutive securities (in shares)	618,857	707,265	795,673
Class A common stock committed under ESPP
Anti-dilutive securities
Antidilutive securities (in shares)	147,947	103,703	207,792
Convertible senior notes
Anti-dilutive securities
Antidilutive securities (in shares)	0	4,847,578	3,150,647
Class A common stock in escrow
Anti-dilutive securities
Antidilutive securities (in shares)	75,506	75,612	0
Class A common stock in escrow and restricted stock awards subject to future vesting
Anti-dilutive securities
Antidilutive securities (in shares)	235,054	268,030	0

Income Taxes - Domestic and Foreign Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ (737,360)	$ (403,148)	$ (328,902)
International	(223,569)	(101,278)	(33,314)
Loss before benefit for income taxes	$ (960,929)	$ (504,426)	$ (362,216)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 122	$ 0	$ 0
State	420	272	198
Foreign	8,274	5,215	2,684
Total	8,816	5,487	2,882
Deferred:
Federal	(13,772)	(12,719)	(49,393)
State	(4,083)	(3,563)	(7,474)
Foreign	(1,990)	(2,652)	(1,168)
Total	(19,845)	(18,934)	(58,035)
Income tax benefit	$ (11,029)	$ (13,447)	$ (55,153)

Income Taxes - Reconciliation of the Statutory Federal Tax Rate and the Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Tax benefit at federal statutory rate	21.00%	21.00%	21.00%
State tax, net of federal benefit	8.00%	12.00%	8.00%
Stock-based compensation	16.00%	24.00%	14.00%
Credits	4.00%	3.00%	4.00%
Foreign rate differential	(1.00%)	(4.00%)	(2.00%)
Permanent book vs. tax differences	0.00%	(1.00%)	0.00%
Change in valuation allowance	(46.00%)	(51.00%)	(29.00%)
Other	0.00%	0.00%	(1.00%)
Effective tax rate	2.00%	4.00%	15.00%

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 1,054,585	$ 656,755
Accrued and prepaid expenses	24,831	15,408
Stock-based compensation	44,261	32,900
Research and development credits	148,282	92,899
Charitable contributions	15,219	8,229
Capped call	0	4,475
Debt issuance cost	0	230
Depreciable property	3,675	0
Intangibles		135,500
Lease liability	71,651	68,566
Other	14,567	0
Gross deferred tax assets	1,512,571	1,014,962
Valuation allowance	(1,136,827)	(677,782)
Net deferred tax assets	375,744	337,180
Capitalized software	(28,825)	(19,174)
Prepaid expenses	(1,649)	(450)
Acquired intangibles	(251,034)	(231,379)
Property and equipment	0	(85)
Convertible debt	0	(9,495)
Right-of-use asset	(64,277)	(66,243)
Deferred commissions	(47,897)	(21,162)
Other	0	(2,876)
Net deferred tax liability	$ (17,938)	$ (13,684)

Income Taxes - Net Operating Loss Carryforwards and Tax Credits (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 320,167
Tax credit carryforward, amount	132,920
Operating loss carryforwards with indefinite lives	3,906,263
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,737,083
Tax credit carryforward, amount	84,858
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 268,653

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Valuation allowance increase (decrease)	$ 459.0	$ 421.9
Zipwhip
Business Acquisition [Line Items]
Valuation allowance increase (decrease)	$ (15.9)
Segment.io Inc.
Business Acquisition [Line Items]
Valuation allowance increase (decrease)		$ (13.8)
SendGrid
Business Acquisition [Line Items]
Valuation allowance increase (decrease)			$ (55.0)

Income Taxes - Unrecognized Tax Benefits - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit, beginning of year	$ 191,183	$ 49,042	$ 15,635
Gross increases for tax positions of prior years	3,496	4,259	12,939
Gross decrease for tax positions of prior years	(10,693)	(931)	(395)
Gross increases for tax positions of current year	39,394	138,813	20,863
Unrecognized tax benefit, end of year	$ 223,380	$ 191,183	$ 49,042

Income Taxes - Unrecognized Tax Benefit - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 223,380	$ 191,183	$ 49,042	$ 15,635
Unrecognized tax benefits that would impact effective tax rate if recognized	$ 6,600

Subsequent Events (Details) - Syniverse	Feb. 28, 2021 USD ($)
Subsequent Events
Common stock, value, subscriptions	$ 750,000,000
Minimum
Subsequent Events
Common stock, value, subscriptions	$ 500,000,000