Loading...
•
Mar 31, 2024
Five9 Q1 2024 Earnings Report
Reported strong first quarter results with 13% year-over-year growth in total revenue and 20% year-over-year growth in subscription revenue.
Key Takeaways
Five9 reported a record revenue of $247.0 million for the first quarter of 2024, a 13% increase compared to the first quarter of 2023. Subscription revenue grew by 20% year-over-year. The company signed its largest deal ever with a Fortune 50 financial services company.
Total revenue increased by 13% year-over-year to a record $247.0 million.
Subscription revenue grew by 20% year-over-year.
GAAP net loss was $(7.1) million, or $(0.10) per basic share.
Non-GAAP net income was $35.7 million, or $0.48 per diluted share.
Five9
Five9
Forward Guidance
Five9 provides guidance for the full year 2024 and the second quarter of 2024, based on current market conditions and expectations.
Positive Outlook
- Full year 2024 revenue is expected to be in the range of $1.053 to $1.057 billion.
- Full year 2024 non-GAAP net income per share is expected to be in the range of $2.15 to $2.19.
- Second quarter 2024 revenue is expected to be in the range of $244.0 to $245.0 million.
- Second quarter 2024 non-GAAP net income per share is expected to be in the range of $0.42 to $0.44.
- The company signed its largest deal ever, a Fortune 50 financial services company.
Challenges Ahead
- Full year 2024 GAAP net loss per share is expected to be in the range of $(0.44) to $(0.35).
- Second quarter 2024 GAAP net loss per share is expected to be in the range of $(0.28) to $(0.23).
- Guidance is subject to various important cautionary factors referenced in the section entitled 'Forward-Looking Statements'.
- Risks and uncertainties associated with the ongoing macroeconomic conditions.
- Impact of adverse economic conditions.