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Five9
🇺🇸 NASDAQ:FIVN
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Jun 30, 2024

Five9 Q2 2024 Earnings Report

Achieved record revenue with annual revenue run rate exceeding $1 billion, primarily driven by LTM enterprise subscription revenue.

Key Takeaways

Five9 reported strong second quarter results with revenue increasing by 13% to a record $252.1 million. The company achieved a key milestone with an annual revenue run rate exceeding $1 billion. However, annual revenue guidance was reduced by 3.8% due to recent bookings trends and uncertain economic conditions.

Revenue for the second quarter of 2024 increased 13% to a record $252.1 million.

GAAP net loss for the second quarter of 2024 was $(12.8) million, or $(0.17) per basic share.

Non-GAAP net income for the second quarter of 2024 was $38.9 million, or $0.52 per diluted share.

Adjusted EBITDA for the second quarter of 2024 was $41.8 million.

Total Revenue
$252M
Previous year: $223M
+13.1%
EPS
$0.52
Previous year: $0.52
+0.0%
Gross Profit
$134M
Previous year: $119M
+12.8%
Cash and Equivalents
$176M
Previous year: $196M
-10.2%
Free Cash Flow
$13.1M
Previous year: $15.1M
-13.4%
Total Assets
$1.91B
Previous year: $1.4B
+36.2%

Five9

Five9

Forward Guidance

Five9 provides revenue guidance for the third quarter of 2024 and full year 2024, emphasizing that the guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements".

Positive Outlook

  • Revenue in the range of $254.5 to $255.5 million for Q3 2024.
  • GAAP net loss per share in the range of $(0.06) to $(0.01) for Q3 2024, assuming basic shares outstanding of approximately 74.9 million.
  • Non-GAAP net income per share in the range of $0.57 to $0.59 for Q3 2024, assuming diluted shares outstanding of approximately 75.5 million.
  • Revenue in the range of $1.013 to $1.017 billion for the full year 2024.
  • Non-GAAP net income per share in the range of $2.25 to $2.29 for the full year 2024, assuming diluted shares outstanding of approximately 75.2 million.

Challenges Ahead

  • GAAP net loss per share in the range of $(0.29) to $(0.19) for the full year 2024, assuming basic shares outstanding of approximately 74.5 million.
  • Guidance is subject to risks and uncertainties associated with ongoing macroeconomic conditions.
  • The impact of adverse economic conditions, including macroeconomic deterioration, may continue to harm Five9's business.
  • Failure to attract new clients or sell additional services and functionality to existing clients could harm revenue and revenue growth.
  • If existing clients terminate or reduce their subscriptions, revenues and gross margins will be harmed.

Company Overview

Full financial data and analysis

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