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Five9
🇺🇸 NASDAQ:FIVN
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•
Mar 31, 2023

Five9 Q1 2023 Earnings Report

Five9's Q1 2023 earnings demonstrated strong revenue growth and GAAP operating cash flow, driven by enterprise business and international expansion.

Key Takeaways

Five9 reported a strong first quarter with revenue increasing by 20% year-over-year to a record $218.4 million. The growth was fueled by the strength of the Enterprise business and expansion in international markets. The company also achieved a record GAAP operating cash flow and an adjusted EBITDA margin of 16%.

Revenue increased 20% year-over-year to a record $218.4 million.

LTM Enterprise subscription revenue grew 31% year-over-year.

LTM international revenue grew 48% year-over-year.

GAAP operating cash flow reached a record of $33.4 million.

Total Revenue
$218M
Previous year: $183M
+19.5%
EPS
$0.41
Previous year: $0.22
+86.4%
Gross Profit
$114M
Previous year: $93.9M
+21.1%
Cash and Equivalents
$141M
Previous year: $100M
+41.1%
Free Cash Flow
$23.5M
Previous year: $16.3M
+43.8%
Total Assets
$1.29B
Previous year: $1.19B
+8.2%

Five9

Five9

Forward Guidance

Five9 provides revenue and EPS guidance for Q2 2023 and full year 2023, based on current market conditions and expectations.

Positive Outlook

  • Full year 2023 revenue is expected to be in the range of $906.0 to $909.0 million.
  • Full year 2023 non-GAAP net income per share is expected to be in the range of $1.73 to $1.77.
  • Second quarter 2023 revenue is expected to be in the range of $213.5 to $214.5 million.
  • Second quarter 2023 non-GAAP net income per share is expected to be in the range of $0.38 to $0.40.
  • Stock-based compensation expenses are based on a range of probable significance, assuming market price for our common stock that is approximately consistent with current levels.

Challenges Ahead

  • Full year 2023 GAAP net loss per share is expected to be in the range of $(1.48) to $(1.39).
  • Second quarter 2023 GAAP net loss per share is expected to be in the range of $(0.45) to $(0.40).
  • Guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements".
  • Acquisition-related one-time integration costs are based on a range of probable significance for completed acquisitions, and no new acquisitions are assumed.
  • Non-GAAP adjustments do not have an impact on our income tax provision due to past non-GAAP losses.

Company Overview

Full financial data and analysis

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