's (NYSE: TWLO) progress toward recovery after the conclusion of 2022 has been erased. Shares of the cloud-based communications company are down 3% so far in 2023, undoing what was a 50% rally earlier this year.  

Some investors have already saddled up for what will be a very long journey to recovery, but the recent stock performance is nonetheless discouraging -- especially given that Twilio did report some positive financial progress in its first quarter. Is there any value left here, or is it time to dump this stock and move on? 

Twilio reported revenue of $1.01 billion in the first quarter, up 15% from the year prior and near the high end of guidance provided three months ago. Adjusted income from operations was $104 million, beating guidance for as much as $55 million.

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Source Fool.com