Oct. 30 at 10:14 PM
@twakey Could be net positive.
$TWLO spent a lot of time on the call talking about AI voice demand ramping and mentioned enterprise voice initiative, which is
$BAND strength.
And here’s the key: TWLO’s non-GAAP gross margins are low~50%, while BAND is ~58%.
$BAND owns the underlying voice network → structurally better margins in voice.
If AI voice becomes a major revenue driver across the stack, the value of owning the network only goes up.
