Twilio’s (NYSE: TWLO) roller coaster start on the stock markets appears to have settled down. After soaring more than three times within a few months of listing, the stock appears to have calmed down to more realistic levels.

Twilio’s Financials

For the fourth quarter of the year, Twilio’s revenues grew 60% over the year to $81.95 million. The Street was looking for revenues of $74.2 million. For the quarter, GAAP net loss per share fell to $0.15 from $0.48 a year ago. Twilio reported a non-GAAP breakeven quarter compared with the market’s estimates of a loss of $0.05 per share.

Among operating metrics, Twilio’s active customer accounts grew 44% to more than 36,600. Some of the big names added during the quarter include Capital One, Atlassian, and PaymentSense in the UK. Twilio’s base revenue, which excludes revenues from variable customer accounts – those customers who have not entered into a 12-month minimum commitment contract – rose 73% annually to $75.2 million last quarter. Twilio’s variable customers include names like Facebook and WhatsApp. It excludes those numbers from the base revenue calculation due to the significant fluctuations in business generated by them.

Twilio ended the year with revenues growing 66% to $277.34 million with a GAAP loss of $41.3 million. Non-GAAP loss from operations came in at $12.2 million for the year.

For the current quarter, Twilio projected total revenues of $82 million-$84 million. It expects to end the year with revenues of $364 million-$372 million. Twilio forecast a loss of $0.06-$0.07 for the first quarter and a loss of $0.15-$0.19 for the full year. The market was looking for revenues of $83 million and a loss of $0.04 for the first quarter. The Street had forecast revenues of $350.3 million and a loss of $0.10 for the year.

Twilio’s Enterprise Focus

Twilio’s higher than expected losses are expected to stem from its continuous investments. Last year it expanded its reach within the larger organizations by launching the Twilio Enterprise Plan. The service offers added security, access management, and administration tools for larger businesses. It also added other enterprise-focused features such as Voice Insights to analyze voice application data for developers and launched new voice call connections that grant access to recording tools.