EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Twilio (TWLO)

Technology

Rosenblatt Securities

TWLO is positioned as a leader in the expanding CXaaS market, fuelled by its unique integration of communications, data and AI capabilities, which no competitor matches. The company’s disciplined shift to a unified platform is unlocking deep cross-sell opportunities among its vast customer base (63% of 349k+ customers still use only one product) and driving margin expansion, while accelerating revenue growth and robust FCF ($3bn+ cumulative by 2027) support an explicit capital return strategy (50% payout target via buybacks). Anchored by strong partnerships in the AI ecosystem and a proven go-to-market overhaul, TWLO’s compelling risk/reward profile is underpinned by durable profitability targets and margin stability, making it highly attractive for those seeking exposure to next-generation customer engagement infrastructure. TP $140 (35% upside).

Edition: 220

- 19 September, 2025


Twilio (TWLO)

Technology

Smart Insider

Jeff Lawson (Co-Founder, Chairman & CEO) purchases 158k shares at $63.26, spending $10m - this marks a reversal from a series of sales, most recently at $264 (Jan 2022). His only previous buy was at $23.43 in May 2017. Donna Dubinsky (Non-Exec since 2018) purchased $251k on the same day. This is her first time buying shares in TWLO and a reversal from sells at higher prices. She didn't acquire any shares at either of her previous Non-Exec roles. These purchases follow recently posted year-end results along with a workforce reduction and $1bn buyback.

Edition: 155

- 03 March, 2023