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Twilio’s First Earnings Report Since Its IPO Should Please Wall Street

August 8, 2016, 8:33 PM UTC
Jeff Lawson, Founder, CEO, & Chairman of Twilio rings the opening bell to celebrate his company's IPO at the NYSE
Jeff Lawson, (C) Founder, CEO, & Chairman of Communications software provider Twilio Inc., rings the opening bell to celebrate his company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., June 23, 2016. REUTERS/Brendan McDermid - RTX2HTCR
Brendan McDermid — Reuters

Twilio (TWLO), a developer-focused messaging and voice services provider, reported a 70% jump in quarterly revenue in its first report since going public in June, driven by demand.

The company’s total revenue rose to $64.51 million in the second quarter ended June 30 from $37.95 million a year earlier.

San Francisco-based Twilio’s net loss attributable to common shareholders widened to $10.99 million from $9.58 million.

On a per share basis, its loss fell to 45 cents per share from 52 cents per share due a sharp rise in the count of the company’s outstanding shares.

Twilio’s software is used by large companies such as Netflix, WhatsApp, and Uber, allowing them to speak with and text customers without exchanging contact information.

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The company’s first-quarter revenue had soared 77.9% to $59.3 million, while its net loss had narrowed to $6.5 million from $8.7 million.

Twilio’s IPO on June 23 was the first offering in 2016 from a technology “unicorn,” private companies valued at more than $1 billion. The stock had nearly tripled from its IPO price of $15 through Monday’s close of $42.50.