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Mar 31, 2021
Five9 Q1 2021 Earnings Report
Five9's first quarter of 2021 resulted in record revenue with a growth of 45%.
Key Takeaways
Five9 reported record first-quarter revenue of $137.9 million, a 45% increase year-over-year. The company's performance was driven by success with enterprises, product innovation, and go-to-market execution. Five9 raised its 2021 guidance for both revenue and bottom line.
Revenue for the first quarter of 2021 increased 45% to a record $137.9 million, compared to $95.1 million for the first quarter of 2020.
GAAP net loss for the first quarter of 2021 was $(12.3) million, or $(0.18) per basic share, compared to GAAP net loss of $(7.4) million, or $(0.12) per basic share, for the first quarter of 2020.
Non-GAAP net income for the first quarter of 2021 was $16.1 million, or $0.23 per diluted share, compared to non-GAAP net income of $11.1 million, or $0.17 per diluted share, for the first quarter of 2020.
Adjusted EBITDA for the first quarter of 2021 was $22.2 million, or 16.1% of revenue, compared to $14.1 million, or 14.9% of revenue, for the first quarter of 2020.
Forward Guidance
Five9 provides guidance based on current market conditions and expectations, subject to various cautionary factors, including risks and uncertainties associated with the COVID-19 pandemic.
Positive Outlook
- Full year 2021 revenue is expected to be in the range of $548.5 to $551.5 million.
- GAAP net loss for the full year 2021 is projected to be in the range of $(63.4) to $(60.4) million, or $(0.91) to $(0.87) per basic share.
- Non-GAAP net income for the full year 2021 is expected to be in the range of $65.2 to $68.2 million, or $0.89 to $0.93 per diluted share.
- Second quarter of 2021 revenue is projected to be in the range of $131.5 to $132.5 million.
- GAAP net loss for the second quarter of 2021 is projected to be in the range of $(25.9) to $(24.9) million, or $(0.38) to $(0.36) per basic share.
Challenges Ahead
- Non-GAAP net income for the second quarter of 2021 is expected to be in the range of $9.1 to $10.1 million, or $0.13 to $0.14 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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