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Dec 31, 2021
Five9 Q4 2021 Earnings Report
Reported fourth quarter revenue growth of 36% to a record $173.6 million.
Key Takeaways
Five9 reported strong Q4 2021 results with revenue increasing by 36% year-over-year to a record $173.6 million. The growth was driven by the strength of their Enterprise business, where LTM subscription revenue grew 51% year-over-year.
Revenue for the fourth quarter of 2021 increased 36% to a record $173.6 million, compared to $127.9 million for the fourth quarter of 2020.
GAAP net loss for the fourth quarter of 2021 was $(3.6) million, or $(0.05) per diluted share, compared to GAAP net loss of $(7.2) million, or $(0.11) per diluted share, for the fourth quarter of 2020.
Non-GAAP net income for the fourth quarter of 2021 was $30.1 million, or $0.42 per diluted share, compared to non-GAAP net income of $23.7 million, or $0.34 per diluted share, for the fourth quarter of 2020.
Adjusted EBITDA for the fourth quarter of 2021 was $36.9 million, or 21.3% of revenue, compared to $29.2 million, or 22.8% of revenue, for the fourth quarter of 2020.
Forward Guidance
Five9 provides guidance based on current market conditions and expectations.
Positive Outlook
- Revenue in the range of $754.5 to $757.5 million for the full year 2022.
- Non-GAAP net income per share in the range of $1.12 to $1.16 for the full year 2022, assuming diluted shares outstanding of approximately 73 million.
- Revenue in the range of $170.0 to $171.0 million for the first quarter of 2022.
- Non-GAAP net income per share in the range of $0.12 to $0.14 for the first quarter of 2022, assuming diluted shares outstanding of approximately 71 million.
Challenges Ahead
- Guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements" below, including risks and uncertainties associated with the COVID-19 pandemic.
- Five9 has not reconciled its expectations as to non-GAAP net income per share to GAAP net loss per share because stock-based compensation and one-time integration costs cannot be reasonably calculated or predicted at this time.
- Accordingly, a reconciliation is not available without unreasonable effort.
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