Cloud computing software vendor Twilio (NYSE:TWLO) has been on a roll. It continues to deliver financial results that outpace all market expectations, driving its stock higher. The stock has witnessed a 220% growth rally during the year.

Twilio’s Financials

For the second quarter of the year, Twilio’s revenues grew 54% to $147.8 million, significantly ahead of the market’s forecast of $131 million. Twilio reported a net loss of $22 million in the quarter, compared with a loss of $7.1 million recorded a year ago. Non GAAP EPS came in at $0.03, compared with a non GAAP net loss of $0.05 per share a year ago. The Street was looking for a non GAAP loss of $0.05 per share for the quarter.

Among key metrics, Twilio ended the quarter with more than 57,350 active customer accounts, compared with 43,430 customers a year ago. The metric is important given the low customer base the company had till a few years ago. In 2015, Twilio earned 32% of its revenue from 10 accounts, and 26% of its revenues from WhatsApp and Uber alone. During the quarter, Twilio’s base revenues grew 54% to $135 million; and excluding Uber, base revenues grew at 61% over the year. Today, the top 10 accounts account for a more modest 18% of total revenues with no single customer contributing for more than 10% of company revenue.

Twilio’s net expansion rate, which measures how much more Twilio’s active customers spent on its services in comparison to the same clients’ year-ago orders, came in at 137%, compared with 132% a year ago. Excluding Uber, that number grew to 145% from 137%.

For the current quarter, Twilio forecast revenues of $150-$152 million, and an adjusted EPS pf $0.02-$0.03. The market was forecasting revenues of $135.9 million with a break-even third quarter. Twilio expects to end the year with revenues of $585.5-$589.5 million, with an adjusted EPS of $0.02-$0.04. The outlook is significantly higher than the previous guidance of $538-$544 million. The market was looking for revenues of $543 million for the year.