Q4 Subscription Revenue Growth of 19%
Q4 Total Revenue Growth of 17%
Q4 Record Operating Cash Flow of $50
Million
Five9, Inc. (NASDAQ:FIVN), the Intelligent CX Platform provider,
today reported results for the fourth quarter and full year ended
December 31, 2024.
Fourth Quarter 2024 Financial Results
- Revenue for the fourth quarter of 2024 increased 17% to a
record $278.7 million, compared to $239.1 million for the fourth
quarter of 2023.
- GAAP gross margin was 56.0% for the fourth quarter of 2024,
compared to 52.9% for the fourth quarter of 2023.
- Adjusted gross margin was 63.5% for the fourth quarter of 2024,
compared to 61.3% for the fourth quarter of 2023.
- GAAP net income for the fourth quarter of 2024 was $11.6
million, or 4.2% of revenue and $0.13 per diluted share, compared
to GAAP net loss of $(12.4) million, or (5.2)% of revenue and
$(0.17) per basic share, for the fourth quarter of 2023.
- Non-GAAP net income for the fourth quarter of 2024 was $60.3
million, or 21.6% of revenue and $0.79 per diluted share, compared
to non-GAAP net income of $45.1 million, or 18.9% of revenue and
$0.61 per diluted share, for the fourth quarter of 2023.
- Adjusted EBITDA for the fourth quarter of 2024 was $64.3
million, or 23.1% of revenue, compared to $48.3 million, or 20.2%
of revenue, for the fourth quarter of 2023.
- GAAP operating cash flow for the fourth quarter of 2024 was
$49.8 million, compared to GAAP operating cash flow of $36.5
million for the fourth quarter of 2023.
2024 Financial Results
- Total revenue for 2024 increased 14% to a record $1,041.9
million, compared to $910.5 million in 2023.
- GAAP gross margin was 54.2% for 2024, compared to 52.5% in
2023.
- Adjusted gross margin was 61.7% for 2024, compared to 61.0% in
2023.
- GAAP net loss for 2024 was $(12.8) million, or (1.2)% of
revenue and $(0.17) per basic share, compared to GAAP net loss of
$(81.8) million, or (9.0)% of revenue and $(1.13) per basic share,
in 2023.
- Non-GAAP net income for 2024 was $185.3 million, or 17.8% of
revenue and $2.47 per diluted share, compared to non-GAAP net
income of $149.9 million, or 16.5% of revenue and $2.05 per diluted
share, in 2023.
- Adjusted EBITDA for 2024 was $196.0 million, or 18.8% of
revenue, compared to $166.3 million, or 18.3% of revenue, in
2023.
- GAAP operating cash flow for 2024 was $143.2 million, compared
to GAAP operating cash flow of $128.8 million, in 2023.
“We are very pleased to report strong year end results, with
2024 annual revenue exceeding $1 billion. Fourth quarter revenue
growth accelerated to 17%, driven by our subscription revenue
growing 19%. We reached an all-time record adjusted EBITDA margin
of 23%, helping drive our highest ever quarterly operating cash
flow of $50 million. Throughout the year, we extended our
leadership position in AI by further enhancing our AI-powered
platform to deliver the New CX. Our record results and strong
traction in our AI business continue to demonstrate the power of
our platform in enabling brands to elevate their CX in this rapidly
evolving world of AI as evidenced by our Enterprise AI revenue
growing 46% YoY in the fourth quarter. We believe we are well
positioned with our AI-powered platform and trusted AI experts to
continue driving durable long-term growth and look forward to
building on our momentum in 2025.”
- Mike Burkland, Chairman and CEO, Five9
Business Outlook
Five9 provides guidance based on current market conditions and
expectations. Five9 emphasizes that the guidance is subject to
various important cautionary factors referenced in the section
entitled "Forward-Looking Statements" below, including risks and
uncertainties associated with the ongoing impact of macroeconomic
challenges.
- For the full year 2025, Five9 expects to report:
- Revenue in the range of $1.140 to $1.144 billion.
- GAAP net income per share in the range of $0.09 to $0.16,
assuming diluted shares outstanding of approximately 90.0
million.
- Non-GAAP net income per share in the range of $2.58 to $2.62,
assuming diluted shares outstanding of approximately 77.3
million.
- For the first quarter of 2025, Five9 expects to report:
- Revenue in the range of $271.5 to $272.5 million.
- GAAP net loss per share in the range of $(0.15) to $(0.09),
assuming basic shares outstanding of approximately 76.0
million.
- Non-GAAP net income per share in the range of $0.47 to $0.49,
assuming diluted shares outstanding of approximately 76.8
million.
With respect to Five9’s guidance as provided above, please refer
to the “Reconciliation of GAAP Net Loss to Non-GAAP net income -
Guidance” table for more details, including important assumptions
upon which such guidance is based.
Conference Call Details
Five9 will discuss its fourth quarter 2024 results today,
February 20, 2025, via Zoom webinar at 4:30 p.m. Eastern Time. To
access the webinar, please register by clicking here. A copy of
this press release will be furnished to the Securities and Exchange
Commission on a Current Report on Form 8-K and will be posted to
our website, prior to the conference call.
A live webcast and a replay will be available on the Investor
Relations section of the Company’s web-site at
http://investors.five9.com/.
Non-GAAP Financial Measures
In addition to disclosing financial measures prepared in
accordance with U.S. generally accepted accounting principles
(GAAP), this press release and the accompanying tables contain
certain non-GAAP financial measures. We calculate adjusted gross
profit and adjusted gross margin by adding back the following items
to gross profit: depreciation, intangibles amortization,
stock-based compensation, exit costs related to the closure and
relocation of our Russian operations, acquisition and related
transaction costs and one-time integration costs, lease
amortization for finance leases and costs related to a reduction in
force plan. We calculate adjusted EBITDA by adding back or removing
the following items to or from GAAP net loss: depreciation and
amortization, stock-based compensation, interest expense, gain on
early extinguishment of debt, interest income and other, exit costs
related to closure and relocation of our Russian operations,
acquisition and related transaction costs and one-time integration
costs, impairment charge related to closure of operating lease
facilities, lease amortization for finance leases, costs related to
a reduction in force plan and provision for income taxes. We
calculate non-GAAP operating income by adding back or removing the
following items to or from GAAP loss from operations: stock-based
compensation, intangibles amortization, exit costs related to the
closure and relocation of our Russian operations, and acquisition
related transaction costs and one-time integration costs, and costs
related to a reduction in force plan. We calculate non-GAAP net
income by adding back or removing the following items to or from
GAAP net loss: stock-based compensation, intangibles amortization,
amortization of discount and issuance costs on convertible senior
notes, exit costs related to the closure and relocation of our
Russian operations, acquisition and related transaction costs and
one-time integration costs, gain on early extinguishment of debt,
impairment charge of an equity investment, impairment charge
related to closure of operating lease facilities, costs related to
a reduction in force plan, and tax benefit associated with an
acquired company. For the periods presented, these adjustments from
GAAP net loss to non-GAAP net income do not include any
presentation of the net tax effect of such adjustments given our
significant net operating loss carryforwards. Non-GAAP financial
measures do not have any standardized meaning and are therefore
unlikely to be comparable to similarly titled measures presented by
other companies. The Company considers these non-GAAP financial
measures to be important because they provide useful measures of
the operating performance of the Company, exclusive of factors that
do not directly affect what we consider to be our core operating
performance, as well as unusual events. The Company’s management
uses these measures to (i) illustrate underlying trends in the
Company’s business that could otherwise be masked by the effect of
income or expenses that are excluded from non-GAAP measures, and
(ii) establish budgets and operational goals for managing the
Company’s business and evaluating its performance. In addition,
investors often use similar measures to evaluate the operating
performance of a company. Non-GAAP financial measures are presented
only as supplemental information for purposes of understanding the
Company’s operating results. The non-GAAP financial measures should
not be considered a substitute for financial information presented
in accordance with GAAP. Please see the reconciliation of non-GAAP
financial measures set forth in this release.
Forward-Looking Statements
This news release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including the statements in the quote from our Chairman
and Chief Executive Officer, including statements regarding Five9’s
AI platform and its market position and expected impact on the
Company's growth, Five9's market opportunity and growth prospect,
and the first quarter and full year 2025 financial projections and
expectations set forth under the caption “Business Outlook,” that
are based on our current expectations and involve numerous risks
and uncertainties that may cause these forward-looking statements
to be inaccurate. Risks that may cause these forward-looking
statements to be inaccurate include, among others: (i) the impact
of adverse economic conditions, including the impact of
macroeconomic challenges, including continued inflation,
uncertainty regarding consumer spending, high interest rates,
fluctuations in currency rates, the impact of the Russia-Ukraine
conflict, the impact of the conflicts in the Middle East, and other
factors, may continue to harm our business; (ii) if we are unable
to attract new customers or sell additional services and
functionality to our existing customers, our revenue and revenue
growth will be harmed; (iii) if our existing customers terminate
their subscriptions or reduce their subscriptions and related
usage, or fail to grow subscriptions at the rate they have in the
past or that we might expect, our revenues and gross margins will
be harmed and we will be required to spend more money to grow our
customer base; (iv) because a significant percentage of our revenue
is derived from existing customers, downturns or upturns in new
sales will not be immediately reflected in our operating results
and may be difficult to discern; (v) if we fail to manage our
technical operations infrastructure, our existing customers may
experience service outages, our new customers may experience delays
in the deployment of our solution and we could be subject to, among
other things, claims for credits or damages; (vi) as AI solutions
will likely perform an increasing proportion of contact center
interactions, if we are unable to replace decreases in subscription
revenue from licenses with revenue from the sale of additional AI
solutions, our revenue, results of operations and business will be
harmed; (vii) further development of our AI solutions may not be
successful and may result in reputational harm and our future
operating results could be materially harmed; (viii) we have
established, and are continuing to increase, our network of
technology solution distributors and resellers to sell our
solution; our failure to effectively develop, manage, and maintain
this network could materially harm our revenues; (ix) our quarterly
and annual results may fluctuate significantly, including as a
result of the timing and success of new product and feature
introductions by us, may not fully reflect the underlying
performance of our business and may result in decreases in the
price of our common stock; (x) if we are unable to attract and
retain highly skilled leaders and other employees, our business and
results of operations may be harmed; (xi) our historical growth may
not be indicative of our future growth, and even if we continue to
grow rapidly, we may fail to manage our growth effectively; (xii)
failure to adequately retain and expand our sales force will impede
our growth; (xiii) the AI technology and features incorporated into
our solution include new and evolving technologies that may present
both legal and business risks; (xiv) the use of AI by our workforce
may present risks to our business; (xv) the contact center software
solutions market is subject to rapid technological change, and we
must develop and sell incremental and new solutions in order to
maintain and grow our business; (xvi) our growth depends in part on
the success of our strategic relationships with third parties and
our failure to successfully maintain, grow and manage these
relationships could harm our business; (xvii) the markets in which
we participate involve a high number of competitors that is
continuing to increase, and if we do not compete effectively, our
operating results could be harmed; (xviii) we continue to expand
our international operations, which exposes us to significant
macroeconomic and other risks; (xix) security breaches,
cybersecurity incidents, and improper access to, use of, or
disclosure of our data or our customers’ data, or other
cyber-attacks on our systems, could result in litigation and
regulatory risk, harm our reputation, our business or financial
results; (xx) we may acquire other companies, or technologies, or
be the target of strategic transactions, or be impacted by
transactions by other companies, which could divert our
management’s attention, result in liabilities from the acquired
company, additional dilution to our stockholders or use a
significant amount of our cash resources and otherwise disrupt our
operations and harm our operating results; (xxi) we sell our
solution to larger organizations that require longer sales and
implementation cycles and often demand more configuration and
integration services or customized features and functions that we
may not offer, any of which could delay or prevent these sales and
harm our growth rates, business and operating results; (xxii) we
rely on third-party telecommunications and internet service
providers to provide our customers and their customers with
telecommunication services and connectivity to our cloud contact
center software and any failure by these service providers to
provide reliable services could cause us to lose customers and
subject us to claims for credits or damages, among other things;
(xxiii) we have a history of losses and we may be unable to achieve
or sustain profitability; (xxiv) our stock price has been volatile,
may continue to be volatile and may decline, including due to
factors beyond our control; (xxv) we may not be able to secure
additional financing on favorable terms, or at all, to meet our
future capital needs; (xxvi) failure to comply with laws and
regulations could harm our business and our reputation; (xxvii) we
may not have sufficient cash to service our convertible senior
notes and repay such notes, if required, and other risks attendant
to our convertible senior notes and increased debt levels; and
(xxviii) the other risks detailed from time-to-time under the
caption “Risk Factors” and elsewhere in our Securities and Exchange
Commission filings and reports, including, but not limited to, our
most recent annual report on Form 10-K and quarterly reports on
Form 10-Q. Such forward-looking statements speak only as of the
date hereof and readers should not unduly rely on such statements.
We undertake no obligation to update the information contained in
this press release, including in any forward-looking
statements.
About Five9
The Five9 Intelligent CX Platform provides a comprehensive suite
of solutions for orchestrating fluid customer experiences. Our
cloud-native, multi-tenant, scalable, reliable, and secure platform
includes contact center; omni-channel engagement; Workforce
Engagement Management; extensibility through more than 1,000
partners; and innovative, practical AI, automation and journey
analytics that are embedded as part of the platform. Five9 brings
the power of people, technology, and partners to more than 3,000
organizations worldwide. For more information, visit
www.five9.com.
FIVE9, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands)
(Unaudited)
December 31, 2024
December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents
$
362,546
$
143,201
Marketable investments
643,410
587,096
Accounts receivable, net
115,172
97,424
Prepaid expenses and other current
assets
50,840
34,622
Deferred contract acquisition costs,
net
76,600
61,711
Total current assets
1,248,568
924,054
Property and equipment, net
144,888
108,572
Operating lease right-of-use assets
38,880
38,873
Finance lease right-of-use assets
19,269
4,564
Intangible assets, net
65,632
38,323
Goodwill
365,436
227,412
Other assets
13,384
16,199
Deferred contract acquisition costs, net —
less current portion
155,157
136,571
Total assets
$
2,051,214
$
1,494,568
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities:
Accounts payable
$
26,282
$
24,399
Accrued and other current liabilities
83,720
62,131
Operating lease liabilities
11,258
10,731
Finance lease liabilities
7,768
1,767
Deferred revenue
79,173
68,187
Convertible senior notes
433,490
—
Total current liabilities
641,691
167,215
Convertible senior notes - less current
portion
731,855
742,125
Operating lease liabilities — less current
portion
37,071
36,378
Finance lease liabilities — less current
portion
11,688
2,877
Other long-term liabilities
6,717
7,888
Total liabilities
1,429,022
956,483
Stockholders’ equity:
Common stock
76
73
Additional paid-in capital
1,039,125
942,280
Accumulated other comprehensive income
636
582
Accumulated deficit
(417,645
)
(404,850
)
Total stockholders’ equity
622,192
538,085
Total liabilities and stockholders’
equity
$
2,051,214
$
1,494,568
FIVE9, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(In thousands, except per share
data)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
Revenue
$
278,660
$
239,062
$
1,041,938
$
910,488
Cost of revenue
122,663
112,493
477,540
432,690
Gross profit
155,997
126,569
564,398
477,798
Operating expenses:
Research and development
41,480
38,873
166,197
156,582
Sales and marketing
73,898
72,956
311,954
296,713
General and administrative
36,439
33,338
137,550
123,079
Total operating expenses
151,817
145,167
615,701
576,374
Income (loss) from operations
4,180
(18,598
)
(51,303
)
(98,576
)
Other income (expense), net:
Interest expense
(4,271
)
(1,963
)
(14,812
)
(7,646
)
Gain on early extinguishment of debt
—
—
6,615
—
Interest income and other
11,242
8,322
46,745
26,799
Total other income (expense), net
6,971
6,359
38,548
19,153
Income (loss) before income taxes
11,151
(12,239
)
(12,755
)
(79,423
)
(Benefit from) provision for income
taxes
(426
)
119
40
2,341
Net income (loss)
$
11,577
$
(12,358
)
$
(12,795
)
$
(81,764
)
Net income (loss) per share:
Basic
$
0.15
$
(0.17
)
$
(0.17
)
$
(1.13
)
Diluted
$
0.13
$
(0.17
)
$
(0.17
)
$
(1.13
)
Shares used in computing net income (loss)
per share:
Basic
75,430
72,926
74,503
72,048
Diluted
88,645
72,926
74,503
72,048
FIVE9, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Twelve Months Ended
December 31, 2024
December 31, 2023
Cash flows from operating
activities:
Net loss
$
(12,795
)
$
(81,764
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization
52,905
48,515
Reduction in the carrying amount of
right-of-use assets
15,358
12,642
Amortization of deferred contract
acquisition costs
71,483
55,384
Accretion of discount on marketable
investments
(20,818
)
(11,351
)
Provision for credit losses
1,150
989
Stock-based compensation
166,315
206,292
Amortization of discount and issuance
costs on convertible senior notes
5,478
3,749
Gain on early extinguishment of debt
(6,615
)
—
Impairment charge of an equity
investment
1,250
—
Impairment charge related to closure of
operating lease facilities
2,202
—
Interest on finance lease obligations
264
150
Deferred taxes - excluding tax benefit
from acquisition
647
53
Deferred taxes - tax benefit from
acquisition
(5,482
)
—
Other
(1,051
)
657
Changes in operating assets and
liabilities:
Accounts receivable
(14,645
)
(9,844
)
Prepaid expenses and other current
assets
(12,148
)
(3,532
)
Deferred contract acquisition costs
(104,957
)
(91,544
)
Other assets
3,115
(3,988
)
Accounts payable
1,057
2,932
Accrued and other current liabilities
2,839
(9,274
)
Deferred revenue
(425
)
4,958
Other liabilities
(1,959
)
3,814
Net cash provided by operating
activities
143,168
128,838
Cash flows from investing
activities:
Purchases of marketable investments
(1,289,357
)
(795,002
)
Proceeds from sales of marketable
investments
122,138
1,211
Proceeds from maturities of marketable
investments
1,132,332
655,588
Purchases of property and equipment
(42,388
)
(31,234
)
Capitalization of software development
costs
(22,223
)
(9,537
)
Cash paid to acquire Acqueon Inc.
(167,151
)
—
Cash settlement to acquire Aceyus,
Inc.
99
(80,588
)
Net cash used in investing activities
(266,550
)
(259,562
)
Cash flows from financing
activities:
Proceeds from issuance of 2029 convertible
senior notes
731,055
—
Payment of debt issuance costs
(2,212
)
—
Payments for capped call transactions
associated with the 2029 convertible senior notes
(93,438
)
—
Repurchase of a portion of 2025
convertible senior notes
(304,485
)
—
Repayment of outstanding 2023 convertible
senior notes at maturity
—
(169
)
Cash received from the settlement at
maturity of the outstanding capped calls associated with the 2023
convertible senior notes
—
74,453
Cash received from partial termination of
capped calls associated with the 2025 convertible senior notes
539
—
Proceeds from exercise of common stock
options
481
9,127
Proceeds from sale of common stock under
ESPP
14,797
15,927
Payment of employee taxes related to
vested RSUs
—
(3,270
)
Payment of holdback related to
acquisition
—
(500
)
Payments of finance leases
(4,012
)
(989
)
Net cash provided by financing
activities
342,725
94,579
Net increase (decrease) in cash and cash
equivalents
219,343
(36,145
)
Cash, cash equivalents and restricted
cash:
Beginning of period
144,842
180,987
End of period
$
364,185
$
144,842
FIVE9, INC.
RECONCILIATION OF GAAP GROSS
PROFIT TO ADJUSTED GROSS PROFIT
(In thousands, except
percentages)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
GAAP gross profit
$
155,997
$
126,569
$
564,398
$
477,798
GAAP gross margin
56.0
%
52.9
%
54.2
%
52.5
%
Non-GAAP adjustments:
Depreciation
7,988
7,162
29,944
26,540
Intangibles amortization
4,099
3,146
12,591
12,019
Stock-based compensation
6,921
9,182
29,825
38,259
Exit costs related to closure and
relocation of Russian operations
—
12
—
105
Acquisition and related transaction costs
and one-time integration costs
40
—
259
34
Lease amortization for finance leases
1,802
449
3,609
941
Costs related to a reduction in force
plan
—
—
2,115
—
Adjusted gross profit
$
176,847
$
146,520
$
642,741
$
555,696
Adjusted gross margin
63.5
%
61.3
%
61.7
%
61.0
%
FIVE9, INC.
RECONCILIATION OF GAAP NET
LOSS TO ADJUSTED EBITDA
(In thousands, except
percentages)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
GAAP net income (loss)
$
11,577
$
(12,358
)
$
(12,795
)
$
(81,764
)
Non-GAAP adjustments:
Depreciation and amortization
14,640
12,962
52,905
48,515
Stock-based compensation
38,443
49,571
166,315
206,292
Interest expense
4,271
1,963
14,812
7,646
Gain on early extinguishment of debt
—
—
(6,615
)
—
Interest income and other
(11,242
)
(8,322
)
(46,745
)
(26,799
)
Exit costs related to closure and
relocation of Russian operations
—
243
78
2,313
Acquisition related transaction costs and
one-time integration costs
2,797
3,670
12,303
6,780
Impairment charges related to closure of
operating lease facilities
2,202
—
2,202
—
Lease amortization for finance leases
1,994
449
3,857
941
Costs related to a reduction in force
plan
—
—
9,625
—
(Benefit from) provision for income
taxes(1)
(426
)
119
40
2,341
Adjusted EBITDA
$
64,256
$
48,297
$
195,982
$
166,265
Adjusted EBITDA as % of revenue
23.1
%
20.2
%
18.8
%
18.3
%
(1)
Non-GAAP adjustments do not have an impact
on our federal income tax provision due to past non-GAAP losses,
and state taxes are immaterial.
FIVE9, INC.
RECONCILIATION OF GAAP
OPERATING LOSS TO NON-GAAP OPERATING INCOME
(In thousands)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
Loss from operations
$
4,180
$
(18,598
)
$
(51,303
)
$
(98,576
)
Non-GAAP adjustments:
Stock-based compensation
38,443
49,571
166,315
206,292
Intangibles amortization
4,099
3,146
12,591
12,019
Exit costs related to closure and
relocation of Russian operations
—
243
78
2,313
Acquisition and related transaction costs
and one-time integration costs
2,797
3,670
12,303
6,780
Costs related to reduction in force
plan
—
—
9,625
—
Non-GAAP operating income
$
49,519
$
38,032
$
149,609
$
128,828
FIVE9, INC.
RECONCILIATION OF GAAP NET
LOSS TO NON-GAAP NET INCOME
(In thousands, except per share
data)
(Unaudited)
Three Months Ended
Twelve Months Ended
December 31, 2024
December 31, 2023
December 31, 2024
December 31, 2023
GAAP net income (loss)
$
11,577
$
(12,358
)
$
(12,795
)
$
(81,764
)
Non-GAAP adjustments:
Stock-based compensation
38,443
49,571
166,315
206,292
Intangibles amortization
4,099
3,146
12,591
12,019
Amortization of discount and issuance
costs on convertible senior notes
1,487
956
5,478
3,749
Gain on early extinguishment of debt
—
—
(6,615
)
—
Exit costs related to closure and
relocation of Russian operations
296
91
452
2,796
Acquisition and related transaction costs
and one-time integration costs
2,797
3,670
12,303
6,780
Impairment charge of an equity
investment
—
—
1,250
—
Impairment charge related to closure of
operating lease facilities
2,202
—
2,202
—
Costs related to a reduction in force
plan
—
—
9,625
—
Tax benefit associated with an acquired
company
(650
)
—
(5,482
)
—
Income tax expense effects (1)
—
—
—
—
Non-GAAP net income
$
60,251
$
45,076
$
185,324
$
149,872
GAAP net income (loss) per share:
Basic
$
0.15
$
(0.17
)
$
(0.17
)
$
(1.13
)
Diluted
$
0.13
$
(0.17
)
$
(0.17
)
$
(1.13
)
Non-GAAP net income per share:
Basic
$
0.80
$
0.62
$
2.49
$
2.08
Diluted
$
0.79
$
0.61
$
2.47
$
2.05
Shares used in computing GAAP net income
(loss) per share:
Basic
75,430
72,926
74,503
72,048
Diluted
88,645
72,926
74,503
72,048
Shares used in computing non-GAAP net
income per share:
Basic
75,430
72,926
74,503
72,048
Diluted
75,999
73,785
75,060
73,011
(1)
Non-GAAP adjustments do not have an impact on our federal income
tax provision due to past non-GAAP losses, and state taxes are
immaterial.
FIVE9, INC.
SUMMARY OF STOCK-BASED
COMPENSATION, DEPRECIATION AND INTANGIBLES AMORTIZATION
(In thousands)
(Unaudited)
Three Months Ended
December 31, 2024
December 31, 2023
Stock-Based
Compensation
Depreciation
Intangibles
Amortization
Stock-Based
Compensation
Depreciation
Intangibles
Amortization
Cost of revenue
$
6,921
$
7,988
$
4,099
$
9,182
$
7,162
$
3,146
Research and development
8,259
620
—
12,055
1,012
—
Sales and marketing
10,880
38
—
15,389
27
—
General and administrative
12,383
1,895
—
12,945
1,615
—
Total
$
38,443
$
10,541
$
4,099
$
49,571
$
9,816
$
3,146
Twelve Months Ended
December 31, 2024
December 31, 2023
Stock-Based
Compensation
Depreciation
Intangibles
Amortization
Stock-Based
Compensation
Depreciation
Intangibles
Amortization
Cost of revenue
$
29,825
$
29,944
$
12,591
$
38,259
$
26,540
$
12,019
Research and development
37,260
2,972
—
50,430
3,583
—
Sales and marketing
51,214
123
—
66,229
65
—
General and administrative
48,016
7,275
—
51,374
6,308
—
Total
$
166,315
$
40,314
$
12,591
$
206,292
$
36,496
$
12,019
FIVE9, INC.
RECONCILIATION OF GAAP NET
LOSS TO NON-GAAP NET INCOME – GUIDANCE(1)
(In thousands, except per share
data)
(Unaudited)
Three Months Ending
Year Ending
March 31, 2025
December 31, 2025
Low
High
Low
High
GAAP net (loss) income
$
(11,071
)
$
(6,535
)
$
8,381
$
14,473
Non-GAAP adjustments:
Stock-based compensation(2)
40,448
38,448
166,902
164,902
Intangibles amortization
2,643
2,643
10,570
10,570
Amortization of discount and issuance
costs on convertible senior notes
1,405
1,405
4,543
4,543
Acquisition and related transaction costs
and one-time integration costs(3)
2,671
1,671
9,023
8,023
Income tax expense effects(4)
—
—
—
—
Non-GAAP net income
$
36,096
$
37,632
$
199,419
$
202,511
GAAP net (loss) income per share:
Basic
$
(0.15
)
$
(0.09
)
$
0.11
$
0.19
Diluted
$
(0.15
)
$
(0.09
)
$
0.09
$
0.16
Non-GAAP net income per share:
Basic
$
0.47
$
0.50
$
2.61
$
2.65
Diluted
$
0.47
$
0.49
$
2.58
$
2.62
Shares used in computing GAAP net (loss)
income per share:
Basic
76,000
76,000
76,500
76,500
Diluted
76,000
76,000
90,000
90,000
Shares used in computing non-GAAP net
income per share:
Basic
76,000
76,000
76,500
76,500
Diluted
76,800
76,800
77,300
77,300
(1)
Represents guidance discussed on
February 20, 2025. Reader shall not construe presentation of this
information after February 20, 2025 as an update or reaffirmation
of such guidance.
(2)
Stock-based compensation expenses
are based on a range of probable significance, assuming market
price for our common stock that is approximately consistent with
current levels.
(3)
Acquisition and related
transaction costs and one-time integration costs are based on a
range of probable significance for completed acquisitions, and no
new acquisitions assumed.
(4)
Non-GAAP adjustments do not have
an impact on our federal income tax provision due to past non-GAAP
losses, and state taxes are immaterial.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250220868383/en/
Investor Relations Contacts: Five9, Inc. Barry
Zwarenstein Chief Financial Officer 925-201-2000 ext. 5959
IR@five9.com
The Blueshirt Group for Five9, Inc. Lisa Laukkanen 415-217-4967
Lisa@blueshirtgroup.com
Grafico Azioni Five9 (NASDAQ:FIVN)
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Da Gen 2025 a Feb 2025
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