Five9 Q3 2022 Earnings Report
Key Takeaways
Five9 reported strong third quarter results with revenue growing 29% year-over-year to a record $198.3 million, driven by the strength of their Enterprise business where LTM subscription revenue grew 37% year-over-year.
Revenue for the third quarter of 2022 increased 29% to a record $198.3 million, compared to $154.3 million for the third quarter of 2021.
GAAP gross margin was 52.6% for the third quarter of 2022, compared to 56.5% for the third quarter of 2021.
Non-GAAP net income for the third quarter of 2022 was $27.8 million, or $0.39 per diluted share, compared to non-GAAP net income of $20.0 million, or $0.28 per diluted share, for the third quarter of 2021.
GAAP operating cash flow for the third quarter of 2022 was $30.5 million, compared to GAAP operating cash flow of $(4.8) million for the third quarter of 2021.
Five9
Five9
Forward Guidance
For the full year 2022, Five9 expects to report revenue in the range of $774.5 to $775.5 million and non-GAAP net income per share in the range of $1.35 to $1.37, assuming diluted shares outstanding of approximately 71.3 million. For the fourth quarter of 2022, Five9 expects to report revenue in the range of $204.0 to $205.0 million and non-GAAP net income per share in the range of $0.40 to $0.42, assuming diluted shares outstanding of approximately 72.0 million.