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Jun 30
Five9 Q2 2025 Earnings Report
Five9 reported strong financial results for the second quarter of 2025, exceeding expectations across key metrics, driven by accelerated subscription and Enterprise AI revenue growth, and record adjusted EBITDA margin and cash flow.
Key Takeaways
Five9 delivered a strong second quarter in 2025, with record revenue of $283.3 million, a 12% increase year-over-year. The company achieved significant profitability improvements, with GAAP net income of $1.2 million and non-GAAP net income of $58.3 million. Adjusted EBITDA reached a record 24.0% of revenue, and operating cash flow was a record $35.1 million.
Revenue for Q2 2025 increased 12% year-over-year to a record $283.3 million.
Subscription revenue growth accelerated to 16% year-over-year, with Enterprise AI revenue growing 42% year-over-year.
Adjusted EBITDA margin reached an all-time record of 24.0%, significantly up from 16.6% in Q2 2024.
GAAP operating cash flow hit a Q2 record of $35.1 million, contributing to strong overall cash flow generation.
Five9
Five9
Five9 Revenue by Segment
Revenue by Segment
Enterprise AI Revenue
CapyFin.com Forward Guidance
Five9 provided guidance for the third quarter and full year 2025, expecting continued revenue growth and non-GAAP net income per share.
Positive Outlook
- Expected Q3 2025 revenue in the range of $283.0 million to $286.0 million.
- Expected full year 2025 revenue in the range of $1.1435 billion to $1.1495 billion.
- Expected Q3 2025 non-GAAP net income per share in the range of $0.72 to $0.74.
- Expected full year 2025 non-GAAP net income per share in the range of $2.86 to $2.90.
- Guidance reflects continued focus on profitable growth and operational efficiency.
Challenges Ahead
- Guidance is subject to various important cautionary factors, including risks and uncertainties associated with ongoing macroeconomic challenges.
- GAAP net income per share guidance for Q3 2025 is lower than non-GAAP, ranging from $0.06 to $0.12.
- GAAP net income per share guidance for full year 2025 is significantly lower than non-GAAP, ranging from $0.23 to $0.30.
- No specific negative factors were highlighted in the guidance beyond general macroeconomic challenges.
- The guidance does not account for potential new acquisitions.