0001447669-22-000147 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Jul. 29, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-37806
Entity Registrant Name	TWILIO INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-2574840
Entity Address, Address Line One	101 Spear Street
Entity Address, Address Line Two	Fifth Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	390-2337
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	TWLO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001447669
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Former Address
Entity Information [Line Items]
Entity Address, Address Line One	101 Spear Street
Entity Address, Address Line Two	First Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
Common Stock Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		173,307,870
Common Stock Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		9,817,605

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 798,625	$ 1,479,452
Short-term marketable securities	3,593,659	3,878,430
Accounts receivable, net	471,915	388,215
Prepaid expenses and other current assets	240,192	186,131
Total current assets	5,104,391	5,932,228
Property and equipment, net	264,767	255,316
Operating right-of-use assets	213,464	234,584
Equity method investment	750,000	0
Intangible assets, net	953,522	1,050,012
Goodwill	5,285,563	5,263,166
Other long-term assets	297,522	263,292
Total assets	12,869,229	12,998,598
Current liabilities:
Accounts payable	102,039	93,333
Accrued expenses and other current liabilities	504,810	417,503
Deferred revenue and customer deposits	137,728	140,389
Operating lease liability, current	50,743	52,325
Total current liabilities	795,320	703,550
Operating lease liability, noncurrent	189,068	211,253
Finance lease liability, noncurrent	18,935	25,132
Long-term debt, net	986,619	985,907
Other long-term liabilities	37,292	41,290
Total liabilities	2,027,234	1,967,132
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock	0	0
Class A and Class B common stock	183	180
Additional paid-in capital	13,623,300	13,169,118
Accumulated other comprehensive loss	(117,401)	(18,141)
Accumulated deficit	(2,664,087)	(2,119,691)
Total stockholders’ equity	10,841,995	11,031,466
Total liabilities and stockholders’ equity	$ 12,869,229	$ 12,998,598

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 943,354	$ 668,931	$ 1,818,717	$ 1,258,919
Cost of revenue	498,065	337,684	948,357	629,368
Gross profit	445,289	331,247	870,360	629,551
Operating expenses:
Research and development	279,641	181,280	520,252	356,080
Sales and marketing	334,958	238,058	622,864	448,648
General and administrative	142,626	114,183	256,988	224,436
Total operating expenses	757,225	533,521	1,400,104	1,029,164
Loss from operations	(311,936)	(202,274)	(529,744)	(399,613)
Other expenses, net	(8,239)	(24,293)	(14,916)	(32,606)
Loss before (provision for) benefit from income taxes	(320,175)	(226,567)	(544,660)	(432,219)
(Provision for) benefit from income taxes	(2,594)	(1,286)	264	(2,176)
Net loss attributable to common stockholders	$ (322,769)	$ (227,853)	$ (544,396)	$ (434,395)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (1.77)	$ (1.31)	$ (3.00)	$ (2.55)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (1.77)	$ (1.31)	$ (3.00)	$ (2.55)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	182,347,864	173,407,187	181,624,316	170,275,609
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	182,347,864	173,407,187	181,624,316	170,275,609

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (322,769)	$ (227,853)	$ (544,396)	$ (434,395)
Other comprehensive loss:
Unrealized loss on marketable securities	(19,022)	(979)	(81,848)	(5,155)
Foreign currency translation	(2,289)	(66)	(2,454)	(276)
Net change in market value of effective foreign currency forward exchange contracts	(11,106)	(2,908)	(14,958)	(2,908)
Total other comprehensive loss	(32,417)	(3,953)	(99,260)	(8,339)
Comprehensive loss attributable to common stockholders	$ (355,186)	$ (231,806)	$ (643,656)	$ (442,734)

- Definition

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

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+ Details

Condensed Consolidated Statements of Stockholder's Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock Common Stock Class A	Common Stock Common Stock Class B	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
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	(206,542)					(206,542)
Exercises of vested stock options (in shares)		248,008	211,371
Exercises of vested stock options	11,564			11,564
Vesting of restricted stock units (in shares)		913,966
Vesting of restricted stock units	0	$ 1		(1)
Value of equity awards withheld for tax liability (in shares)		(6,989)
Value of equity awards withheld for tax liability	(2,774)			(2,774)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		419,371	(419,371)
Equity component from partial settlement of 2023 convertible senior notes (in shares)		1,158,381
Equity component from partial settlement of 2023 convertible senior notes	80,049	$ 2		80,047
Shares of Class A common stock donated to charity (in shares)		22,102
Shares of Class A common stock donated to charity	9,405			9,405
Issuance of common stock in connection with a follow-on public offering, net of underwriter discounts (in shares)		4,312,500
Issuance of common stock in connection with a follow-on public offering, net of underwriter discounts	1,766,400	$ 4		1,766,396
Costs related to the follow-on public offering	(727)			(727)
Issuance of restricted stock awards (in shares)		24,697
Unrealized loss on marketable securities	(4,176)				(4,176)
Foreign currency translation	(210)				(210)
Stock-based compensation	141,542			141,542
Balance (in shares) at Mar. 31, 2021		160,588,258	10,343,302
Balance at Mar. 31, 2021	10,247,196	$ 158	$ 13	11,618,698	4,660	(1,376,333)
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	(434,395)
Unrealized loss on marketable securities	(5,155)
Foreign currency translation	(276)
Net change in market value of effective foreign currency forward exchange contracts	(2,908)
Balance (in shares) at Jun. 30, 2021		165,715,499	10,218,422
Balance at Jun. 30, 2021	10,694,112	$ 164	$ 12	12,297,415	707	(1,604,186)
Balance (in shares) at Mar. 31, 2021		160,588,258	10,343,302
Balance at Mar. 31, 2021	10,247,196	$ 158	$ 13	11,618,698	4,660	(1,376,333)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(227,853)					(227,853)
Exercises of vested stock options (in shares)		294,430	63,164
Exercises of vested stock options	20,351			20,351
Vesting of restricted stock units (in shares)		839,472
Vesting of restricted stock units	0	$ 1		(1)
Value of equity awards withheld for tax liability (in shares)		(5,498)
Value of equity awards withheld for tax liability	(1,882)			(1,882)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		188,044	(188,044)
Conversion of shares of Class B common stock into shares of Class A common stock	0	$ 1	$ (1)
Equity component from partial settlement of 2023 convertible senior notes (in shares)		3,688,584
Equity component from partial settlement of 2023 convertible senior notes	255,594	$ 4		255,590
Settlement of capped call, net of related costs	225,233			225,233
Shares issued under ESPP (in shares)		100,107
Shares issued under ESPP	23,699			23,699
Shares of Class A common stock donated to charity (in shares)		22,102
Shares of Class A common stock donated to charity	6,789			6,789
Costs related to the follow-on public offering	(50)			(50)
Unrealized loss on marketable securities	(979)				(979)
Foreign currency translation	(66)				(66)
Net change in market value of effective foreign currency forward exchange contracts	(2,908)				(2,908)
Stock-based compensation	148,988			148,988
Balance (in shares) at Jun. 30, 2021		165,715,499	10,218,422
Balance at Jun. 30, 2021	10,694,112	$ 164	$ 12	12,297,415	707	(1,604,186)
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(221,627)					(221,627)
Exercises of vested stock options (in shares)		180,643	193,889
Exercises of vested stock options	11,727			11,727
Vesting of restricted stock units (in shares)		877,089
Vesting of restricted stock units	0	$ 1		(1)
Value of equity awards withheld for tax liability (in shares)		(5,804)
Value of equity awards withheld for tax liability	(1,065)			(1,065)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		215,389	(215,389)
Shares of Class A common stock donated to charity (in shares)		22,102
Shares of Class A common stock donated to charity	4,232			4,232
Shares returned from escrow (in shares)		(152,239)
Shares returned from escrow	(387)			(387)
Unrealized loss on marketable securities	(62,826)				(62,826)
Foreign currency translation	(165)				(165)
Net change in market value of effective foreign currency forward exchange contracts	(3,852)				(3,852)
Stock-based compensation	159,930			159,930
Balance (in shares) at Mar. 31, 2022		171,763,174	9,820,605
Balance at Mar. 31, 2022	10,917,433	$ 169	$ 12	13,343,554	(84,984)	(2,341,318)
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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(544,396)
Unrealized loss on marketable securities	(81,848)
Foreign currency translation	(2,454)
Net change in market value of effective foreign currency forward exchange contracts	(14,958)
Balance (in shares) at Jun. 30, 2022		173,271,942	9,817,605
Balance at Jun. 30, 2022	10,841,995	$ 171	$ 12	13,623,300	(117,401)	(2,664,087)
Balance (in shares) at Mar. 31, 2022		171,763,174	9,820,605
Balance at Mar. 31, 2022	10,917,433	$ 169	$ 12	13,343,554	(84,984)	(2,341,318)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(322,769)					(322,769)
Exercises of vested stock options (in shares)		98,111	77,732
Exercises of vested stock options	5,649			5,649
Vesting of restricted stock units (in shares)		1,049,640
Vesting of restricted stock units	0	$ 1		(1)
Value of equity awards withheld for tax liability (in shares)		(38)
Value of equity awards withheld for tax liability	(4)			(4)
Conversion of shares of Class B common stock into shares of Class A common stock (in shares)		80,732	(80,732)
Shares issued under ESPP (in shares)		258,221
Shares issued under ESPP	24,318	$ 1		24,317
Shares of Class A common stock donated to charity (in shares)		22,102
Shares of Class A common stock donated to charity	2,373			2,373
Unrealized loss on marketable securities	(19,022)				(19,022)
Foreign currency translation	(2,289)				(2,289)
Net change in market value of effective foreign currency forward exchange contracts	(11,106)				(11,106)
Stock-based compensation	247,412			247,412
Balance (in shares) at Jun. 30, 2022		173,271,942	9,817,605
Balance at Jun. 30, 2022	$ 10,841,995	$ 171	$ 12	$ 13,623,300	$ (117,401)	$ (2,664,087)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (544,396)	$ (434,395)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	137,744	119,405
Non-cash reduction to the right-of-use asset	25,539	23,200
Net amortization of investment premium and discount	20,274	13,834
Amortization of debt discount and issuance costs	713	5,081
Stock-based compensation	397,366	281,323
Amortization of deferred commissions	26,076	12,394
Value of shares of Class A common stock donated to charity	6,605	16,194
Loss on extinguishment of debt	0	28,986
Other adjustments	9,927	8,313
Changes in operating assets and liabilities:
Accounts receivable	(91,782)	(41,687)
Prepaid expenses and other current assets	(57,997)	(44,604)
Other long-term assets	(52,521)	(39,118)
Accounts payable	6,654	27,078
Accrued expenses and other current liabilities	78,430	65,923
Deferred revenue and customer deposits	(3,984)	7,615
Operating lease liabilities	(31,127)	(23,610)
Other long-term liabilities	(7,662)	290
Net cash (used in) provided by operating activities	(80,141)	26,222
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired and other related payments	(31,697)	(94,178)
Purchases of marketable securities and other investments	(1,325,366)	(2,807,798)
Proceeds from sales and maturities of marketable securities	754,574	754,466
Capitalized software development costs	(22,361)	(21,839)
Purchases of long-lived and intangible assets	(10,779)	(12,140)
Net cash used in investing activities	(635,629)	(2,181,489)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offerings, net of underwriters' discounts	0	1,766,400
Payments of costs related to public offerings	(35)	(394)
Proceeds from issuance of senior notes due 2029 and 2031	0	987,500
Payment of debt issuance costs	0	(1,362)
Proceeds from settlements of capped call, net of settlement costs	0	228,412
Principal payments on debt and finance leases	(6,188)	(6,658)
Value of equity awards withheld for tax liabilities	(1,069)	(4,656)
Proceeds from exercises of stock options and shares of Class A common stock issued under ESPP	41,694	55,614
Net cash provided by financing activities	34,402	3,024,856
Effect of exchange rate changes on cash, cash equivalents and restricted cash	313	(143)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(681,055)	869,446
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period	1,481,831	933,885
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period	800,776	1,803,331
Supplemental Cash Flow Information [Abstract]
Cash paid for income taxes, net	4,147	3,240
Cash paid for interest	18,750	693
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Value of common stock issued to settle convertible senior notes due 2023	0	1,704,969
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONDENSED CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents	798,625	1,799,602
Restricted cash in other current assets	2,151	2,620
Restricted cash in other long-term assets	0	1,109
Total cash, cash equivalents and restricted cash	$ 800,776	$ 1,803,331

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2022
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. Today's leading companies trust Twilio's Customer Engagement Platform (CEP) to build direct, personalized relationships with their customers everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of the customer journey, from sales to marketing to growth, customer service and many more engagement use cases in a flexible, programmatic way. 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	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a)Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 22, 2022 (“Annual Report”). The condensed consolidated balance sheet as of December 31, 2021, included herein, was derived from the audited financial statements as of that date, but may not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, stockholders’ equity and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year 2022 or any future period. (b)Principles of Consolidation The condensed 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)Remaining Performance Obligations Revenue allocated to remaining performance obligations for contracts with durations of more than one year was $140.8 million as of June 30, 2022, of which 69% is expected to be recognized over the next 12 months and 95% is expected to be recognized over the next 24 months. (e)Deferred Revenue and Customer Deposits As of June 30, 2022 and December 31, 2021, the Company recorded $137.8 million and $141.5 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 condensed consolidated balance sheets. During the three months ended June 30, 2022 and 2021, the Company recognized $29.9 million and $16.4 million of revenue, respectively, that was included in the deferred revenue and customer deposits balance as of the end of the previous year. During the six months ended June 30, 2022 and 2021, the Company recognized $94.7 million and $44.3 million of revenue, respectively, that was included in the deferred revenue and customer deposits balance as of the end of the previous year. (f)Deferred Sales Commissions Total net capitalized commission costs as of June 30, 2022 and December 31, 2021, were $212.4 million and $193.4 million, respectively, and are included in prepaid expenses and other current assets and other long‑term assets in the accompanying condensed consolidated balance sheets. (g)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 three and six months ended June 30, 2022 and 2021, no customer organization accounted for more than 10% of the Company’s total revenue. As of June 30, 2022 and December 31, 2021, no customer organization represented more than 10% of the Company’s gross accounts receivable. (h)Changes to Significant Accounting Policies Equity Method Investments Equity investment holdings in which the Company does not have a controlling financial interest in the investee but does exercise significant influence are accounted for under the equity method. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the investee as they occur. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company determines the difference between its purchase price and its share of the carrying amount of net equity of the investee, which results in an excess basis in the investment. This excess basis is allocated to the identifiable assets and liabilities of the investee utilizing purchase accounting principles and is recorded within memo accounts that are then used to calculate the equity method adjustments every reporting period. Depending on the nature of the underlying identifiable assets and liabilities, the allocated excess basis amounts are either amortized over the applicable useful lives or determined to be indefinite lived. The Company elected to record the equity method adjustments on a one-quarter lag. The Company evaluates equity method investments for impairment whenever events or changes in circumstance indicate that the carrying amounts of such investments may be impaired. When such indicators exist, the other-than-temporary impairment model is utilized, which considers the severity and duration of a decline in fair value below book value and the Company’s ability and intent to hold the investment for a sufficient period of time to allow for recovery. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in the current period. There have been no other changes to the Company’s significant accounting policies as described in its Annual Report. (i)Recently Adopted Accounting Guidance 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 contract 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. The Company adopted ASU 2021-08 in the first quarter of 2022 with no material impact to the Company's condensed consolidated financial statements.

Fair Value Measurements

6 Months Ended

Jun. 30, 2022

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 June 30, 2022						Aggregate Fair Value
							Level 1	Level 2		Level 3
Financial Assets:	(In thousands)
Cash and cash equivalents:
Money market funds	$	131,658	$	—	$	—		$	131,658	$	—	$	—	$	131,658

Commercial paper	125,645		—		—			—		125,645		—		125,645
Total included in cash and cash equivalents	257,303		—		—			131,658		125,645		—		257,303
Marketable securities:
U.S. Treasury securities	464,902		—		(12,111)			452,791		—		—		452,791
Non-U.S. government securities	157,715		2		(5,816)			151,901		—		—		151,901
Corporate debt securities and commercial paper	3,071,733		139		(82,905)			11,000		2,977,967		—		2,988,967
Total marketable securities	3,694,350		141		(100,832)			615,692		2,977,967		—		3,593,659
Total financial assets	$	3,951,653	$	141	$	(100,832)		$	747,350	$	3,103,612	$	—	$	3,850,962


	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

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 June 30, 2022 and December 31, 2021, 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 June 30, 2022 and December 31, 2021, 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 $15.6 million and $31.2 million in the three and six months ended June 30, 2022, respectively, and $5.6 million and $9.4 million in the three and six months ended June 30, 2021, respectively. The interest is recorded as other expenses, net, in the accompanying condensed consolidated statements of operations.

The following table summarizes the contractual maturities of marketable securities:


	As of June 30, 2022				As of December 31, 2021
	Amortized Cost		Aggregate Fair Value		Amortized Cost		Aggregate Fair Value
Financial Assets:	(In thousands)
Less than one year	$	1,503,388	$	1,483,243	$	1,084,751	$	1,085,006
One to three years	2,190,962		2,110,416		2,812,521		2,793,424
Total	$	3,694,350	$	3,593,659	$	3,897,272	$	3,878,430

Strategic Investments

As of June 30, 2022 and December 31, 2021, the Company held strategic investments with a carrying value of $74.3 million and $68.3 million, respectively, recorded as other long-term assets in the accompanying condensed consolidated balance sheets. The carrying value of these securities is determined under the measurement alternative on a non-recurring basis and adjusted for observable changes in fair value. There were no impairments or other adjustments recorded in the three and six months ended June 30, 2022 and 2021, 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 June 30, 2022 and 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 are its Senior Notes due 2029 (“2029 Notes”) and its Senior Notes due 2031 (“2031 Notes”). As of June 30, 2022 the fair value of the 2029 Notes and 2031 Notes were $425.8 million and $417.1 million, respectively. As of December 31, 2021, the fair value of the 2029 Notes and 2031 Notes were $510.2 million and $512.8 million, respectively.

- 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

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


	As of June 30, 2022		As of December 31, 2021
	(In thousands)
Capitalized internal-use software development costs	$	230,089	$	198,589
Data center equipment (1)	79,170		77,946
Leasehold improvements	88,551		85,297
Office equipment	64,798		58,636
Furniture and fixtures	14,980		15,360
Software	10,931		10,506
Total property and equipment	488,519		446,334
Less: accumulated depreciation and amortization (1)	(223,752)		(191,018)
Total property and equipment, net	$	264,767	$	255,316

____________________________________

(1) Data center equipment contains $63.0 million in assets held under finance leases as of each June 30, 2022, and December 31, 2021. Accumulated depreciation and amortization contains $33.3 million and $26.8 million in accumulated amortization for assets held under finance leases as of June 30, 2022, and December 31, 2021, respectively.

Depreciation and amortization expense was $17.4 million and $14.2 million in the three months ended June 30, 2022 and 2021, respectively, and $34.0 million and $28.7 million in the six months ended June 30, 2022 and 2021, respectively.

The Company capitalized $17.2 million and $16.5 million in internal‑use software development costs in the three months ended June 30, 2022 and 2021, respectively, and $31.9 million and $31.5 million in the six months ended June 30, 2022 and 2021, respectively.

Derivatives and Hedging

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

As of June 30, 2022, the Company had outstanding foreign currency forward contracts designated as cash flow hedges with a total sell notional value of $448.6 million. The notional value represents the amount that will be sold upon maturity of the forward contract. As of June 30, 2022, these contracts had maturities of less than 12 months.

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


	Condensed Consolidated Statement of Operations and Statement of Comprehensive Loss	Three Months Ended June 30,			Six Months Ended June 30,
			2022		2021		2022		2021
			(In thousands)
Losses recognized in OCI	Net change in market value of effective foreign currency forward exchange contracts		$	11,106	$	2,908	$	14,958	$	2,908
Losses recognized in income due to instruments maturing	Cost of revenue		$	7,566	$	467	$	9,163	$	467

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 condensed consolidated balance sheets. 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 June 30, 2022, the Company did not have any offsetting arrangements.

Equity Method Investment	6 Months Ended
Equity Method Investment	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Equity Method Investment	Equity Method Investment In May 2022, the Company paid $750.0 million in cash to acquire approximately 43% of the total number of Syniverse Corporation’s (“Syniverse”) common shares issued and outstanding after the closing of the transaction. The Company determined that it does not have a controlling financial interest in Syniverse but does exercise significant influence and therefore, the investment was accounted for under the equity method. Utilizing the purchase accounting principles, the Company determined that on the investment date there was an estimated preliminary excess investment basis of $507.3 million related to its share of the identifiable intangible assets of Syniverse. While the Company used its best estimates and assumptions as part of this allocation process to accurately value the investee’s assets and liabilities, 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 investment to make adjustments to these preliminary allocations. Since the Company elected to recognize the proportionate share of its equity method adjustments on a one-quarter lag, there was no impact from these allocations on the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2022. In conjunction with the investment, the Company and Syniverse entered into a wholesale agreement, pursuant to which Syniverse will process, route and deliver application-to-person messages originating and/or terminating between the Company’s customers and mobile network operators. The impact of transactions that occurred from the date of investment through June 30, 2022, is not significant to the accompanying condensed consolidated statements of operations for the three months and six months ended June 30, 2022.

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The goodwill balance as of June 30, 2022 and December 31, 2021 was as follows:


	Total
	(In thousands)




Balance as of December 31, 2021	$	5,263,166
Goodwill additions and adjustments	22,397

Balance as of June 30, 2022	$	5,285,563

Intangible assets

Intangible assets consisted of the following:


	As of June 30, 2022
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	796,037	$	(279,964)	$	516,073
Customer relationships	538,941		(166,255)		372,686
Supplier relationships	57,248		(14,638)		42,610
Trade names	30,533		(17,019)		13,514
Order backlog	10,000		(10,000)		—
Patent	4,028		(604)		3,424

Total amortizable intangible assets	1,436,787		(488,480)		948,307
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920

Trademarks and other	295		—		295
Total	$	1,442,002	$	(488,480)	$	953,522


	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

Amortization expense was $52.2 million and $45.4 million for the three months ended June 30, 2022 and 2021, respectively, and $103.7 million and $90.6 million for the six months ended June 30, 2022 and 2021, respectively.

Total estimated future amortization expense is as follows:


	As of June 30, 2022
Year Ended December 31,	(In thousands)
2022 (remaining six months)	$	102,585
2023	202,945
2024	197,510
2025	193,937
2026	120,382
Thereafter	130,948
Total	$	948,307

Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2022

Accrued Liabilities and Other Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of June 30, 2022		As of December 31, 2021
	(In thousands)
Accrued payroll and related	$	86,502	$	78,780
Accrued bonus and commission	38,662		64,665
Accrued cost of revenue	201,112		118,004
Sales and other taxes payable	74,901		61,975
ESPP contributions	5,449		10,284
Derivative liability	14,669		220
Finance lease liability, current	12,220		12,370
Accrued other expense	71,295		71,205
Total accrued expenses and other current liabilities	$	504,810	$	417,503

Notes Payable

6 Months Ended

Jun. 30, 2022

Long-Term Debt, Unclassified [Abstract]

Notes Payable

Long-term debt, net, consisted of the following:


	As of June 30, 2022		As of December 31, 2021
	(In thousands)
2029 Senior Notes
Principal	$	500,000	$	500,000
Unamortized discount	(5,355)		(5,701)
Unamortized issuance costs	(1,205)		(1,286)
Net carrying amount	493,440		493,013
2031 Senior Notes
Principal	500,000		500,000
Unamortized discount	(5,568)		(5,832)
Unamortized issuance costs	(1,253)		(1,274)
Net carrying amount	493,179		492,894
Total long-term debt, net	$	986,619	$	985,907

As of June 30, 2022, the Company was in compliance with all of its financial covenants under the Indenture.

Revenue by Geographic Area

6 Months Ended

Jun. 30, 2022

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:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenue by geographic area:	(In thousands)
United States	$	616,306	$	452,912	$	1,186,687	$	874,443
International	327,048		216,019		632,030		384,476
Total	$	943,354	$	668,931	$	1,818,717	$	1,258,919


Percentage of revenue by geographic area:
United States	65	%	68	%	65	%	69	%
International	35	%	32	%	35	%	31	%

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 https://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
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-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&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)
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesLease and Other Commitments The Company has entered into various non-cancelable operating lease agreements for its facilities. In the six months ended June 30, 2022, the Company did not enter into any significant new lease agreements. The Company has non-cancelable contractual commitments with its cloud infrastructure provider, network service providers and other vendors. In the three and six months ended June 30, 2022, the Company entered into several such agreements with terms up to four years for a total purchase commitment of $24.3 million and $54.5 million, respectively. 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 the Company’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. A trial date has been set for March 6, 2023. 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 11(d) of these condensed 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 condensed 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 June 30, 2022 and December 31, 2021, 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 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, as described in Note 11(b), the Company is currently involved in legal proceedings with the City and County of San Francisco challenging their assessment of the Company’s estimated tax liability for a specific period. The $38.8 million assessment of taxes, including interest and penalties, that the Company paid as required in 2020, net of the $11.5 million reserve the Company had accrued for the same period, was recorded as a deposit in other assets in the accompanying condensed consolidated balance sheets. As of June 30, 2022, the liabilities recorded for the non-income-based taxes were $27.8 million for domestic jurisdictions and $19.7 million for jurisdictions outside of the United States. As of December 31, 2021, these liabilities were $25.4 million and $17.7 million, respectively.

Stockholders' Equity

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Preferred Stock

As of June 30, 2022, and December 31, 2021, 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 June 30, 2022, and December 31, 2021, 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 of $0.001 per share. As of June 30, 2022, 173,271,942 shares of Class A common stock and 9,817,605 shares of Class B common stock were issued and outstanding. 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.

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


	As of June 30, 2022	As of December 31, 2021
Stock options issued and outstanding	2,654,461	3,351,313
Unvested restricted stock units issued and outstanding	14,496,487	6,475,700
Class A common stock reserved for Twilio.org	574,653	618,857
Stock-based awards available for grant under 2016 Plan	22,891,134	24,650,104
Stock-based awards available for grant under ESPP	7,924,609	6,382,830
Total	48,541,344	41,478,804

- 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

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+ Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

The Company’s 2016 Stock Option and Incentive Plan (the “2016 Plan”) provides for granting stock options, restricted stock units (“RSU”), restricted stock awards (“RSA”), stock appreciation rights, unrestricted stock awards, performance share awards, dividend equivalent rights and cash-based awards to its employees, directors and consultants. Certain of the Company’s outstanding equity awards were granted under equity incentive plans that are no longer active but continue to govern the outstanding equity awards granted thereunder.

The Company also offers an Employee Stock Purchase Plan (“ESPP”) to eligible employees. The ESPP provides for separate six-month offering periods beginning in May and November of each year.

In March 2022, the Company granted 919,289 shares of performance-based restricted stock unit awards to its executive employees with a grant date fair value per share of $157.44 and an aggregate grant date fair value of $144.7 million. Each award consists of three tranches, with each vesting over a separate service period if its respective performance targets, as defined in the grant agreements, are achieved. The first tranche will vest if the revenue growth targets are achieved with respect to fiscal year 2022. The second and third tranches will vest if both (a) revenue growth targets and (b) profitability targets are achieved with respect to each of fiscal years 2023 and 2024. If performance targets are not achieved, the related tranche will be forfeited. Vesting of these performance-based restricted stock unit awards will range up to 100% above the target based on levels of performance and will be recorded in stock-based compensation expense in the fiscal year during which each tranche vests. The Company estimated the fair value of these awards based on the closing price of its Class A common stock on the date of grant.

As of June 30, 2022, total unrecognized compensation cost related to all outstanding equity awards was as follows:


	Unrecognized Compensation Cost		Weighted-average remaining period
	(In thousands)		(In years)
Unvested stock options	$	87,478	2.1
Unvested restricted stock units and awards	2,247,100		3.2
ESPP	5,676		0.4
Class A shares in escrow subject to future vesting	15,173		2.0
Total	$	2,355,427

Stock-Based Compensation Expense

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(In thousands)
Cost of revenue	$	3,996	$	3,024	$	8,517	$	5,741
Research and development	109,524		58,871		188,893		115,830
Sales and marketing	78,492		47,940		126,078		89,576
General and administrative	50,078		34,333		73,877		70,176
Total	$	242,090	$	144,168	$	397,365	$	281,323

Net Loss Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per common share is presented in conformity with the two-class method required for participating securities and is described in detail in the Company’s Annual Report.

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021

Net loss attributable to common stockholders (in thousands)	$	(322,769)	$	(227,853)	$	(544,396)	$	(434,395)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted	182,347,864		173,407,187		181,624,316		170,275,609
Net loss per share attributable to common stockholders, basic and diluted	$	(1.77)	$	(1.31)	$	(3.00)	$	(2.55)

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 June 30,
	2022	2021
Stock options issued and outstanding	2,654,461	4,786,740
Unvested restricted stock units issued and outstanding	14,496,487	7,008,107
Class A common stock reserved for Twilio.org	574,653	663,061
Class A common stock committed under ESPP	226,082	106,054
Class A common stock in escrow	31,503	75,612
Class A common stock in escrow and restricted stock awards subject to future vesting	76,080	288,755
Total	18,059,266	12,928,329

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its provision for income taxes for interim periods by applying an estimated annual effective tax rate to anticipated annual pretax income or loss. The estimated annual effective tax rate is applied to the Company’s year to date income or loss, and is adjusted for discrete items recorded in the period. The primary difference between the Company’s effective tax rate and the federal statutory rate is the full valuation allowance the Company has established on its federal, state and foreign net operating losses and credits. The Company recorded an income tax provision of $2.6 million and an income tax benefit of $0.3 million for the three and six months ended June 30, 2022, respectively, and a provision of $1.3 million and $2.2 million for the three and six months ended June 30, 2021. The provision for income taxes recorded in the three months ended June 30, 2022, and three and six months ended June 30, 2021, and the benefit for income taxes recorded in the six months ended June 30, 2022, consists primarily of income taxes and withholding taxes in foreign jurisdictions in which the Company conducts business, partially offset by an income tax benefit from the reversal of U.S. deferred tax liabilities related to the acquired intangibles from business combinations. The Company is subject to taxation in the U.S. and various other state and foreign jurisdictions. Because the Company has net operating loss carryforwards for U.S. federal and state jurisdictions, the statute of limitations is open for all tax years.

- 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
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+ Details

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 22, 2022 (“Annual Report”). The condensed consolidated balance sheet as of December 31, 2021, included herein, was derived from the audited financial statements as of that date, but may not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, stockholders’ equity and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year 2022 or any future period.
Principles of Consolidation	Principles of ConsolidationThe condensed 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.
Equity Method Investments	Equity Method Investments Equity investment holdings in which the Company does not have a controlling financial interest in the investee but does exercise significant influence are accounted for under the equity method. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the investee as they occur. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company determines the difference between its purchase price and its share of the carrying amount of net equity of the investee, which results in an excess basis in the investment. This excess basis is allocated to the identifiable assets and liabilities of the investee utilizing purchase accounting principles and is recorded within memo accounts that are then used to calculate the equity method adjustments every reporting period. Depending on the nature of the underlying identifiable assets and liabilities, the allocated excess basis amounts are either amortized over the applicable useful lives or determined to be indefinite lived. The Company elected to record the equity method adjustments on a one-quarter lag. The Company evaluates equity method investments for impairment whenever events or changes in circumstance indicate that the carrying amounts of such investments may be impaired. When such indicators exist, the other-than-temporary impairment model is utilized, which considers the severity and duration of a decline in fair value below book value and the Company’s ability and intent to hold the investment for a sufficient period of time to allow for recovery. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in the current period.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance 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 contract 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. The Company adopted ASU 2021-08 in the first quarter of 2022 with no material impact to the Company's condensed consolidated financial statements.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022						Aggregate Fair Value
							Level 1	Level 2		Level 3
Financial Assets:	(In thousands)
Cash and cash equivalents:
Money market funds	$	131,658	$	—	$	—		$	131,658	$	—	$	—	$	131,658

Commercial paper	125,645		—		—			—		125,645		—		125,645
Total included in cash and cash equivalents	257,303		—		—			131,658		125,645		—		257,303
Marketable securities:
U.S. Treasury securities	464,902		—		(12,111)			452,791		—		—		452,791
Non-U.S. government securities	157,715		2		(5,816)			151,901		—		—		151,901
Corporate debt securities and commercial paper	3,071,733		139		(82,905)			11,000		2,977,967		—		2,988,967
Total marketable securities	3,694,350		141		(100,832)			615,692		2,977,967		—		3,593,659
Total financial assets	$	3,951,653	$	141	$	(100,832)		$	747,350	$	3,103,612	$	—	$	3,850,962


	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

Schedule of contractual maturities of marketable securities

The following table summarizes the contractual maturities of marketable securities:


	As of June 30, 2022				As of December 31, 2021
	Amortized Cost		Aggregate Fair Value		Amortized Cost		Aggregate Fair Value
Financial Assets:	(In thousands)
Less than one year	$	1,503,388	$	1,483,243	$	1,084,751	$	1,085,006
One to three years	2,190,962		2,110,416		2,812,521		2,793,424
Total	$	3,694,350	$	3,593,659	$	3,897,272	$	3,878,430

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Property and equipment consisted of the following:


	As of June 30, 2022		As of December 31, 2021
	(In thousands)
Capitalized internal-use software development costs	$	230,089	$	198,589
Data center equipment (1)	79,170		77,946
Leasehold improvements	88,551		85,297
Office equipment	64,798		58,636
Furniture and fixtures	14,980		15,360
Software	10,931		10,506
Total property and equipment	488,519		446,334
Less: accumulated depreciation and amortization (1)	(223,752)		(191,018)
Total property and equipment, net	$	264,767	$	255,316

____________________________________

Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

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


	Condensed Consolidated Statement of Operations and Statement of Comprehensive Loss	Three Months Ended June 30,			Six Months Ended June 30,
			2022		2021		2022		2021
			(In thousands)
Losses recognized in OCI	Net change in market value of effective foreign currency forward exchange contracts		$	11,106	$	2,908	$	14,958	$	2,908
Losses recognized in income due to instruments maturing	Cost of revenue		$	7,566	$	467	$	9,163	$	467

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill balance

The goodwill balance as of June 30, 2022 and December 31, 2021 was as follows:


	Total
	(In thousands)




Balance as of December 31, 2021	$	5,263,166
Goodwill additions and adjustments	22,397

Balance as of June 30, 2022	$	5,285,563

Schedule of intangible assets

Intangible assets consisted of the following:


	As of June 30, 2022
	Gross		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	796,037	$	(279,964)	$	516,073
Customer relationships	538,941		(166,255)		372,686
Supplier relationships	57,248		(14,638)		42,610
Trade names	30,533		(17,019)		13,514
Order backlog	10,000		(10,000)		—
Patent	4,028		(604)		3,424

Total amortizable intangible assets	1,436,787		(488,480)		948,307
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920

Trademarks and other	295		—		295
Total	$	1,442,002	$	(488,480)	$	953,522


	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

Schedule of total estimated future amortization expense

Total estimated future amortization expense is as follows:


	As of June 30, 2022
Year Ended December 31,	(In thousands)
2022 (remaining six months)	$	102,585
2023	202,945
2024	197,510
2025	193,937
2026	120,382
Thereafter	130,948
Total	$	948,307

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022		As of December 31, 2021
	(In thousands)
Accrued payroll and related	$	86,502	$	78,780
Accrued bonus and commission	38,662		64,665
Accrued cost of revenue	201,112		118,004
Sales and other taxes payable	74,901		61,975
ESPP contributions	5,449		10,284
Derivative liability	14,669		220
Finance lease liability, current	12,220		12,370
Accrued other expense	71,295		71,205
Total accrued expenses and other current liabilities	$	504,810	$	417,503

Notes Payable (Tables)

6 Months Ended

Jun. 30, 2022

Long-Term Debt, Unclassified [Abstract]

Schedule of Long-term debt

Long-term debt, net, consisted of the following:


	As of June 30, 2022		As of December 31, 2021
	(In thousands)
2029 Senior Notes
Principal	$	500,000	$	500,000
Unamortized discount	(5,355)		(5,701)
Unamortized issuance costs	(1,205)		(1,286)
Net carrying amount	493,440		493,013
2031 Senior Notes
Principal	500,000		500,000
Unamortized discount	(5,568)		(5,832)
Unamortized issuance costs	(1,253)		(1,274)
Net carrying amount	493,179		492,894
Total long-term debt, net	$	986,619	$	985,907

Revenue by Geographic Area (Tables)

6 Months Ended

Jun. 30, 2022

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:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenue by geographic area:	(In thousands)
United States	$	616,306	$	452,912	$	1,186,687	$	874,443
International	327,048		216,019		632,030		384,476
Total	$	943,354	$	668,931	$	1,818,717	$	1,258,919


Percentage of revenue by geographic area:
United States	65	%	68	%	65	%	69	%
International	35	%	32	%	35	%	31	%

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022	As of December 31, 2021
Stock options issued and outstanding	2,654,461	3,351,313
Unvested restricted stock units issued and outstanding	14,496,487	6,475,700
Class A common stock reserved for Twilio.org	574,653	618,857
Stock-based awards available for grant under 2016 Plan	22,891,134	24,650,104
Stock-based awards available for grant under ESPP	7,924,609	6,382,830
Total	48,541,344	41,478,804

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of unrecognized compensation cost of outstanding equity awards

As of June 30, 2022, total unrecognized compensation cost related to all outstanding equity awards was as follows:


	Unrecognized Compensation Cost		Weighted-average remaining period
	(In thousands)		(In years)
Unvested stock options	$	87,478	2.1
Unvested restricted stock units and awards	2,247,100		3.2
ESPP	5,676		0.4
Class A shares in escrow subject to future vesting	15,173		2.0
Total	$	2,355,427

Schedule of stock based compensation expense

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(In thousands)
Cost of revenue	$	3,996	$	3,024	$	8,517	$	5,741
Research and development	109,524		58,871		188,893		115,830
Sales and marketing	78,492		47,940		126,078		89,576
General and administrative	50,078		34,333		73,877		70,176
Total	$	242,090	$	144,168	$	397,365	$	281,323

Net Loss Per Share Attributable to Common Stockholders (Tables)

6 Months Ended

Jun. 30, 2022

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:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021

Net loss attributable to common stockholders (in thousands)	$	(322,769)	$	(227,853)	$	(544,396)	$	(434,395)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted	182,347,864		173,407,187		181,624,316		170,275,609
Net loss per share attributable to common stockholders, basic and diluted	$	(1.77)	$	(1.31)	$	(3.00)	$	(2.55)

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


	As of June 30,
	2022	2021
Stock options issued and outstanding	2,654,461	4,786,740
Unvested restricted stock units issued and outstanding	14,496,487	7,008,107
Class A common stock reserved for Twilio.org	574,653	663,061
Class A common stock committed under ESPP	226,082	106,054
Class A common stock in escrow	31,503	75,612
Class A common stock in escrow and restricted stock awards subject to future vesting	76,080	288,755
Total	18,059,266	12,928,329

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Acquired Indefinite-lived Intangible Assets [Line Items]
Revenue, remaining performance obligation, amount	$ 140.8		$ 140.8
Deferred revenue	137.8		137.8		$ 141.5
Revenue recognized out of adjusted deferred revenue balance	29.9	$ 16.4	94.7	$ 44.3
Total net capitalized costs	$ 212.4		$ 212.4		$ 193.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Acquired Indefinite-lived Intangible Assets [Line Items]
Revenue, remaining performance obligation, percentage	69.00%		69.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Acquired Indefinite-lived Intangible Assets [Line Items]
Revenue, remaining performance obligation, percentage	95.00%		95.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months		24 months

Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	$ 257,303	$ 832,624
Amortized Cost or Carrying Value	3,694,350	3,897,272
Gross Unrealized Gains	141	966
Gross Unrealized Losses	(100,832)	(19,808)
Marketable securities, aggregate fair value	3,593,659	3,878,430
Total financial assets	3,951,653	4,729,896
Total financial assets	3,850,962	4,711,054
Level 1
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	131,658	786,548
Marketable securities, aggregate fair value	615,692	624,036
Total financial assets	747,350	1,410,584
Level 2
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	125,645	46,076
Marketable securities, aggregate fair value	2,977,967	3,254,394
Total financial assets	3,103,612	3,300,470
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	464,902	375,305
Gross Unrealized Gains	0	6
Gross Unrealized Losses	(12,111)	(2,561)
Marketable securities, aggregate fair value	452,791	372,750
U.S. Treasury securities \| Level 1
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	452,791	372,750
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	157,715	221,641
Gross Unrealized Gains	2	0
Gross Unrealized Losses	(5,816)	(1,355)
Marketable securities, aggregate fair value	151,901	220,286
Non-U.S. government securities \| Level 1
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	151,901	220,286
Non-U.S. government securities \| Level 2
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0	0
Non-U.S. government securities \| Level 3
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	0	0
Corporate debt securities and commercial paper
Fair Value Measurements, Financial Assets
Amortized Cost or Carrying Value	3,071,733	3,300,326
Gross Unrealized Gains	139	960
Gross Unrealized Losses	(82,905)	(15,892)
Marketable securities, aggregate fair value	2,988,967	3,285,394
Corporate debt securities and commercial paper \| Level 1
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	11,000	31,000
Corporate debt securities and commercial paper \| Level 2
Fair Value Measurements, Financial Assets
Marketable securities, aggregate fair value	2,977,967	3,254,394
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:	131,658	786,548
Money market funds \| Level 1
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	131,658	786,548
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:	125,645	46,076
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:	125,645	46,076
Commercial paper \| Level 3
Fair Value Measurements, Financial Assets
Cash and cash equivalents:	$ 0	$ 0

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest earned on marketable securities	$ 15,600,000	$ 5,600,000	$ 31,200,000	$ 9,400,000
Investment in equity securities, carrying value	74,300,000		74,300,000		$ 68,300,000
Impairment of long-lived assets	0	$ 0	0	$ 0
2029 Senior Notes \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the notes	425,800,000		425,800,000		510,200,000
2031 Senior Notes \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the notes	$ 417,100,000		$ 417,100,000		$ 512,800,000

Fair Value Measurements - Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Less than one year, amortized cost	$ 1,503,388	$ 1,084,751
One to three years, amortized cost	2,190,962	2,812,521
Amortized Cost or Carrying Value	3,694,350	3,897,272
Less than one year, aggregate fair value	1,483,243	1,085,006
One to three years, aggregate fair value	2,110,416	2,793,424
Total aggregate fair value	$ 3,593,659	$ 3,878,430

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property and Equipment
Total property and equipment	$ 488,519	$ 446,334
Less: accumulated depreciation and amortization	(223,752)	(191,018)
Total property and equipment, net	264,767	255,316
Capitalized internal-use software development costs
Property and Equipment
Total property and equipment	230,089	198,589
Data center equipment
Property and Equipment
Total property and equipment	79,170	77,946
Finance lease asset	63,000	63,000
Finance lease asset, accumulated amortization	33,300	26,800
Leasehold improvements
Property and Equipment
Total property and equipment	88,551	85,297
Office equipment
Property and Equipment
Total property and equipment	64,798	58,636
Furniture and fixtures
Property and Equipment
Total property and equipment	14,980	15,360
Software
Property and Equipment
Total property and equipment	$ 10,931	$ 10,506

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 17.4	$ 14.2	$ 34.0	$ 28.7
Capitalized internal use software development costs	$ 17.2	$ 16.5	$ 31.9	$ 31.5

Derivatives and Hedging - Narrative (Details) - Foreign Currency Forward - Designated as Cash Flow Hedges - Cash Flow Hedge $ in Millions	6 Months Ended
	Jun. 30, 2022 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	$ 448.6

Derivatives and Hedging - Gains (Losses) Associated With Foreign Currency Forward Contracts (Details) - Foreign Currency Forward - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Foreign Currency Fair Value Hedge Derivative [Line Items]
Losses recognized in OCI	$ 11,106	$ 2,908	$ 14,958	$ 2,908
Cost of revenue
Foreign Currency Fair Value Hedge Derivative [Line Items]
Losses recognized in income due to instruments maturing	$ 7,566	$ 467	$ 9,163	$ 467

Equity Method Investment (Details) $ in Millions	1 Months Ended
Equity Method Investment (Details) $ in Millions	May 31, 2022 USD ($)
Marketable Securities [Line Items]
Preliminary basis difference	$ 507.3
Syniverse
Marketable Securities [Line Items]
Payments to acquire equity method investments	$ 750.0
Acquisition of voting stock (in percent)	43.00%

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 52.2	$ 45.4	$ 103.7	$ 90.6

Goodwill and Intangible Assets - Goodwill Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill
Beginning balance of period	$ 5,263,166
Goodwill additions and adjustments	22,397
Ending balance of period	$ 5,285,563

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Amortizable intangible assets:
Gross	$ 1,436,787	$ 1,429,470
Accumulated Amortization	(488,480)	(384,673)
Net	948,307	1,044,797
Intangible assets, gross	1,442,002	1,434,685
Total	953,522	1,050,012
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	796,037	794,831
Accumulated Amortization	(279,964)	(222,765)
Net	516,073	572,066
Customer relationships
Amortizable intangible assets:
Gross	538,941	538,264
Accumulated Amortization	(166,255)	(128,035)
Net	372,686	410,229
Supplier relationships
Amortizable intangible assets:
Gross	57,248	51,671
Accumulated Amortization	(14,638)	(9,491)
Net	42,610	42,180
Trade names
Amortizable intangible assets:
Gross	30,533	30,669
Accumulated Amortization	(17,019)	(13,874)
Net	13,514	16,795
Order backlog
Amortizable intangible assets:
Gross	10,000	10,000
Accumulated Amortization	(10,000)	(10,000)
Net	0	0
Patent
Amortizable intangible assets:
Gross	4,028	4,035
Accumulated Amortization	(604)	(508)
Net	$ 3,424	$ 3,527

Goodwill and Intangible Assets - Total Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Intangible Assets
2022 (remaining six months)	$ 102,585
2023	202,945
2024	197,510
2025	193,937
2026	120,382
Thereafter	130,948
Net	$ 948,307	$ 1,044,797

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Accrued payroll and related	$ 86,502	$ 78,780
Accrued bonus and commission	38,662	64,665
Accrued cost of revenue	201,112	118,004
Sales and other taxes payable	74,901	61,975
ESPP contributions	5,449	10,284
Derivative liability	14,669	220
Finance lease liability, current	12,220	12,370
Accrued other expense	71,295	71,205
Total accrued expenses and other current liabilities	$ 504,810	$ 417,503
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities

Notes Payable - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Net carrying amount	$ 986,619	$ 985,907
2029 Senior Notes
Debt Instrument [Line Items]
Principal	500,000	500,000
Unamortized discount	(5,355)	(5,701)
Unamortized issuance costs	(1,205)	(1,286)
Net carrying amount	493,440	493,013
2031 Senior Notes
Debt Instrument [Line Items]
Principal	500,000	500,000
Unamortized discount	(5,568)	(5,832)
Unamortized issuance costs	(1,253)	(1,274)
Net carrying amount	$ 493,179	$ 492,894

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Revenue by Geographic Area - Percentage of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue by geographic area:
Revenue	$ 943,354	$ 668,931	$ 1,818,717	$ 1,258,919
United States
Revenue by geographic area:
Revenue	$ 616,306	$ 452,912	$ 1,186,687	$ 874,443
United States \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Percentage of revenue by geographic area:
Percentage of revenue	65.00%	68.00%	65.00%	69.00%
International
Revenue by geographic area:
Revenue	$ 327,048	$ 216,019	$ 632,030	$ 384,476
International \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Percentage of revenue by geographic area:
Percentage of revenue	35.00%	32.00%	35.00%	31.00%

- 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

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-Name Accounting Standards Codification
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+ Details

Commitments and Contingencies - Lease and Other Commitments (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Term of non-cancellable agreement	4 years	4 years
Purchase commitment	$ 24.3	$ 54.5

Commitments and Contingencies - Legal Matters (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Taxes payable, jurisdictional estimate	$ 38.8	$ 38.8

Commitments and Contingencies - Indemnification Agreements (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Indemnification Agreement
Loss Contingencies [Line Items]
Loss contingency accrual	$ 0	$ 0

Commitments and Contingencies - Other Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Loss Contingencies [Line Items]
Taxes payable, jurisdictional estimate			$ 38.8	$ 38.8
Accrued taxes			$ 11.5
Domestic Tax Authority
Loss Contingencies [Line Items]
Taxes payable	$ 27.8	$ 25.4
Foreign Tax Authority
Loss Contingencies [Line Items]
Taxes payable	$ 19.7	$ 17.7

Stockholders' Equity - Preferred Stock (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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	Jun. 30, 2022	Dec. 31, 2021
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
Common stock, issued (in shares)	173,271,942	170,625,994
Common stock, outstanding (in shares)	173,271,942	170,625,994
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)	9,817,605	9,842,105
Common stock, outstanding (in shares)	9,817,605	9,842,105

Stockholders' Equity - Common Stock Shares Reserved (Details) - shares	Jun. 30, 2022	Dec. 31, 2021
Stockholders' Equity
Total (in shares)	48,541,344	41,478,804
2016 Stock Option and Incentive Plan
Stockholders' Equity
Stock-based awards available for grant under 2016 Plan and ESPP (in shares)	22,891,134	24,650,104
Common Stock Class A
Stockholders' Equity
Class A common stock reserved for Twilio.org (in shares)	574,653	618,857
Stock options issued and outstanding
Stockholders' Equity
Stock options issued and outstanding (in shares)	2,654,461	3,351,313
Unvested restricted stock units issued and outstanding
Stockholders' Equity
Unvested restricted stock units issued and outstanding (in shares)	14,496,487	6,475,700
Stock-based awards available for grant under ESPP
Stockholders' Equity
Stock-based awards available for grant under 2016 Plan and ESPP (in shares)	7,924,609	6,382,830

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2022 USD ($) tranche $ / shares shares	Jun. 30, 2022
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock plan offering period		6 months
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) \| shares	919,289
Granted (in dollars per share) \| $ / shares	$ 157.44
Outstanding performance based options, aggregate intrinsic value \| $	$ 144.7
Number of tranches \| tranche	3
Performance-Based Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of target	100.00%

Stock-Based Compensation - Unrecognized Compensation Cost (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 2,355,427
Unvested stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock options	$ 87,478
Weighted-average remaining period	2 years 1 month 6 days
Unvested restricted stock units and awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, other than options	$ 2,247,100
Weighted-average remaining period	3 years 2 months 12 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, other than options	$ 5,676
Weighted-average remaining period	4 months 24 days
Class A shares in escrow subject to future vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, other than options	$ 15,173
Weighted-average remaining period	2 years

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 242,090	$ 144,168	$ 397,365	$ 281,323
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	3,996	3,024	8,517	5,741
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	109,524	58,871	188,893	115,830
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	78,492	47,940	126,078	89,576
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 50,078	$ 34,333	$ 73,877	$ 70,176

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	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Loss Per Share Attributable to Common Stockholders
Net loss attributable to common stockholders, basic	$ (322,769)	$ (227,853)	$ (544,396)	$ (434,395)
Net loss attributable to common stockholders, diluted	$ (322,769)	$ (227,853)	$ (544,396)	$ (434,395)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in shares)	182,347,864	173,407,187	181,624,316	170,275,609
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in shares)	182,347,864	173,407,187	181,624,316	170,275,609
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (1.77)	$ (1.31)	$ (3.00)	$ (2.55)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (1.77)	$ (1.31)	$ (3.00)	$ (2.55)

- Definition

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

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- 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.

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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.

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Net Loss Per Share Attributable to Common Stockholders - Anti-Dilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	18,059,266	12,928,329
Stock options issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,654,461	4,786,740
Unvested restricted stock units issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	14,496,487	7,008,107
Class A common stock reserved for Twilio.org
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	574,653	663,061
Class A common stock committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	226,082	106,054
Class A common stock in escrow
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	31,503	75,612
Class A common stock in escrow and restricted stock awards subject to future vesting
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	76,080	288,755

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 2,594	$ 1,286	$ (264)	$ 2,176

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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