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Mar 31, 2022
Five9 Q1 2022 Earnings Report
Reported record first quarter revenue growth and raised 2022 guidance.
Key Takeaways
Five9 reported a strong start to the year with first quarter revenue growing 33% year-over-year to a record $182.8 million, driven primarily by the strength of their Enterprise business where LTM subscription revenue grew 46% year-over-year.
First quarter revenue increased 33% to a record $182.8 million compared to Q1 2021.
GAAP gross margin was 51.4% for the first quarter.
Non-GAAP net income for the first quarter was $15.6 million, or $0.22 per diluted share.
GAAP operating cash flow for the first quarter was $28.7 million.
Forward Guidance
Five9 provides guidance based on current market conditions and expectations.
Positive Outlook
- Revenue in the range of $770.0 to $773.0 million for the full year 2022.
- Non-GAAP net income per share in the range of $1.22 to $1.24 for the full year 2022, assuming diluted shares outstanding of approximately 73 million.
- Revenue in the range of $179.0 to $180.0 million for the second quarter of 2022.
- Non-GAAP net income per share in the range of $0.17 to $0.19 for the second quarter of 2022, assuming diluted shares outstanding of approximately 72 million.
Challenges Ahead
- Guidance is subject to various important cautionary factors referenced in the section entitled 'Forward-Looking Statements'.
- Risks and uncertainties associated with the global economic impact of the Russia-Ukraine Conflict.
- Risks and uncertainties associated with the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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