Twilio Inc. (NYSE:TWLO), a major player in cloud communications with a market capitalization of $17.1 billion, disclosed today that Dana Wagner, the Chief Legal Officer and Corporate Secretary, has decided to resign. Wagner will continue his role until January 1, 2025, to assist with the transition.
Wagner's departure was announced internally on December 13, 2024, and he will not receive severance payments or benefits post-resignation. The company has not yet named a successor.
Twilio has not provided any further details on the reasons behind Wagner's resignation or on the process of nominating a new Chief Legal Officer. The information provided is based on a press release statement.
In other recent news, Twilio reported a 10% year-over-year increase in Q3 2024 revenue, reaching $1.13 billion.
The company's non-GAAP income from operations rose to a record $182 million, with Communications revenue contributing $1.06 billion. Twilio's emphasis on integrating artificial intelligence and machine learning across its platform has been instrumental in enhancing its product offerings.
Twilio has also announced the public beta release of Linked Audiences for Amazon (NASDAQ:AMZN) Redshift, a feature designed to enhance customer engagement by enabling users to build dynamic audiences and enrich customer profiles. This development has contributed to a 35% year-over-year increase in Twilio Segment's growth in the AWS Marketplace.
Analysts from Baird, Tigress Financial Partners, and Monness, Crespi, Hardt have updated their assessments of Twilio. Baird raised its price target for Twilio shares to $115, maintaining a Neutral rating. Both Tigress Financial Partners and Monness, Crespi, Hardt upgraded Twilio's stock to Buy, setting a new price target of $135.
Twilio projects a revenue growth of 7% to 8% for Q4 and fiscal 2025, and expects significant non-GAAP operating margin expansion in 2025. The company has completed over $2.7 billion in aggregate repurchases as part of its $3 billion share repurchase authorization.
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