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Sep 30, 2021
Five9 Q3 2021 Earnings Report
Reported record revenue with strong growth in enterprise subscription.
Key Takeaways
Five9 reported a strong third quarter with revenue growing 38% year-over-year to a record $154.3 million. The growth was driven by the Enterprise business, with LTM Enterprise subscription revenue growing by 51% year-over-year.
Revenue for the third quarter of 2021 increased 38% to a record $154.3 million, compared to $112.1 million for the third quarter of 2020.
GAAP gross margin was 56.5% for the third quarter of 2021, compared to 58.5% for the third quarter of 2020.
Non-GAAP net income for the third quarter of 2021 was $20.0 million, or $0.28 per diluted share, compared to non-GAAP net income of $18.5 million, or $0.27 per diluted share, for the third quarter of 2020.
Adjusted EBITDA for the third quarter of 2021 was $27.4 million, or 17.8% of revenue, compared to $24.1 million, or 21.5% of revenue, for the third quarter of 2020.
Forward Guidance
For the full year 2021, Five9 expects to report revenue in the range of $600.5 to $601.5 million and non-GAAP net income per share in the range of $1.09 to $1.10. For the fourth quarter of 2021, Five9 expects to report revenue in the range of $164.5 to $165.5 million and non-GAAP net income per share in the range of $0.36 to $0.37.
Positive Outlook
- Revenue in the range of $600.5 to $601.5 million for the full year 2021.
- Non-GAAP net income per share in the range of $1.09 to $1.10 for the full year 2021.
- Revenue in the range of $164.5 to $165.5 million for the fourth quarter of 2021.
- Non-GAAP net income per share in the range of $0.36 to $0.37 for the fourth quarter of 2021.
Historical Earnings Impact
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