TWLO — what changed in the latest 10-Q
A section-by-section comparison of TWLO's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-30 vs the prior 10-Q · 2026-08-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −20 | ~21 | 50 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 2 |
| Risk factors | Some risk factors updated | +1 | −1 | ~20 | 295 |
| Other information | Text added/removed | +3 | −1 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-30
We regularly assess the need for a valuation allowance on our deferred tax assets. In the second quarter of 2026, based on our analysis of both positive and negative evidence, including the amount of pre-tax book income in the U.S. in recent periods and our expectation of future profits in the U.S.,…
Comparison of the Three Months Ended September 30, 2026 and 2025
In the three months ended September 30, 2026, revenue increased by $259.1 million, or 20%, compared to the same period last year. This increase was primarily attributable to the increased usage of our products by our existing customers, as reflected in our DBNE of 114%, as well as an increase of $81…
In the three months ended September 30, 2026, cost of revenue increased by $130.7 million, or 20%, compared to the same period last year. The increase was primarily attributable to a $129.3 million increase in network service provider costs, net of the impact of hedging instruments, which includes a…
In the three months ended September 30, 2026, gross profit increased by $128.5 million, or 20%, compared to the same period last year. This increase was attributable to the factors impacting our revenue and cost of revenue, as described above.
Text removed vs the prior filing · source: 10-Q · 2026-08-07
In the second quarter of 2026, we determined that we would be unable to consume certain network services that we prepaid in previous periods due to operational and financial challenges experienced by two network service providers. This determination resulted in a $32.8 million impairment loss on pre…
We regularly assess the need for a valuation allowance on our deferred tax assets. As of June 30, 2026, based on our analysis of both positive and negative evidence, including the amount of pre-tax book income in the U.S. in recent periods and our expectation of future profits in the U.S., we conclu…
In the three months ended June 30, 2026, revenue increased by $270.7 million, or 22%, compared to the same period last year. This increase was primarily attributable to the increased usage of our products by our existing customers, as reflected in our DBNE of 116%, as well as an increase of $75.7 mi…
In the three months ended June 30, 2026, cost of revenue increased by $147.5 million, or 24%, compared to the same period last year. The increase was primarily attributable to a $138.8 million increase in network service provider costs, net of the impact of hedging instruments, which includes a $71.…
In the three months ended June 30, 2026, gross profit increased by $123.1 million, or 20%, compared to the same period last year. This increase was attributable to the factors impacting our revenue and cost of revenue, as described above.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-10-30
•our ability to comply with evolving telecommunications-related regulations and industry standards;
Text removed vs the prior filing · source: 10-Q · 2026-08-07
•our ability to comply with telecommunications-related regulations, and the impact of future legislative or regulatory actions;
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-30
During the three months ended September 30, 2026, the following “Rule 10b5-1 trading arrangements” (as defined in Item 408 of Regulation S-K) were adopted or terminated by our directors and officers, each of which was intended to satisfy the affirmative defense in Rule 10b5-1(c):
On September 1, 2026, Aidan Viggiano, our Chief Financial Officer, adopted a Rule 10b5-1 trading plan providing for (i) the sale of shares of our common stock issuable upon the vesting and settlement of 66,760 RSUs outstanding prior to the adoption of the plan, in addition to certain shares Ms. Vigg…
No other officers, as defined in Rule 16a-1(f), or directors adopted and/or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, during the last fiscal quarter.
Text removed vs the prior filing · source: 10-Q · 2026-08-07
During the three months ended June 30, 2026, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (each as defined in Item 408 of Regulation S-K).
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice