Five9 Q1 2020 Earnings Report
Key Takeaways
Five9 reported strong Q1 2020 results, with revenue increasing by 28% year-over-year to $95.1 million. The company delivered exceptional service during the COVID-19 pandemic, helping customers transition agents to work from home and providing flexibility to scale the platform. Five9 believes the migration to the cloud will accelerate due to the need for remote work and the importance of customer service.
First quarter revenue increased 28% year-over-year to $95.1 million.
GAAP gross margin was 57.9% compared to 58.6% in the first quarter of 2019.
GAAP net loss for the first quarter was $(7.4) million, or $(0.12) per basic share.
GAAP operating cash flow for the first quarter of 2020 was $10.4 million.
Five9
Five9
Forward Guidance
Five9 provides revenue, GAAP net loss, and non-GAAP net income guidance for the full year 2020 and the second quarter of 2020, emphasizing that the guidance is subject to risks and uncertainties associated with the COVID-19 pandemic.