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News Release

Five9 Reports First Quarter Revenue Growth of 28% to a Record $95.1 Million

33% Growth in LTM Enterprise Subscription Revenue

Seventeenth Consecutive Quarter of Positive Operating Cash Flow at $10.4 Million

SAN RAMON, Calif. - May 4, 2020 - Five9, Inc. (NASDAQ:FIVN), a leading provider of cloud contact center software, today reported results for the first quarter ended March 31, 2020.

First Quarter 2020 Financial Results

  • Revenue for the first quarter of 2020 increased 28% to a record $95.1 million, compared to $74.5 million for the first quarter of 2019.

  • GAAP gross margin was 57.9% for the first quarter of 2020, compared to 58.6% for the first  quarter of 2019.

  • Adjusted gross margin was 64.1% for the first quarter of 2020, compared to 63.4% for the first quarter of 2019.

  • GAAP net loss for the first quarter of 2020 was $(7.4) million, or $(0.12) per basic share, compared to GAAP net loss of $(1.9) million, or $(0.03) per basic share, for the first quarter of 2019.

  • Non-GAAP net income for the first quarter of 2020 was $11.1 million, or $0.17 per diluted share, compared to non-GAAP net income of $10.0 million, or $0.16 per diluted share, for the first quarter of 2019.

  • Adjusted EBITDA for the first quarter of 2020 was $14.1 million, or 14.9% of revenue, compared to $11.8 million, or 15.9% of revenue, for the first quarter of 2019.

  • GAAP operating cash flow for the first quarter of 2020 was $10.4 million, compared to GAAP operating cash flow of $11.2 million for the first quarter of 2019.
     

“We delivered strong first quarter results, with revenue of $95.1 million, up 28% year-over-year, driven by our continued success in our Enterprise business. I am extremely proud of the ways in which we’ve delivered exceptional service to our customers during the COVID-19 pandemic. In recent weeks we’ve helped our customers transition tens of thousands of agents to work from home, and mobilized a rapid response team and toolset to give customers flexibility to scale up and scale down on the platform. Throughout this challenging time and when it mattered most, we delivered the highest uptime in the history of the Company. We believe the steady migration of premise to cloud only stands to accelerate given the crucial need for people to work from home, and, the increasing importance around customer service and retention. As we move through 2020, we will strive to continue to deliver the extraordinary service Five9 is known for and maintain our focus on disciplined and balanced growth.”

- Rowan Trollope, CEO, Five9

Business Outlook

Five9 provides guidance based on current market conditions and expectations. The Company 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 COVID-19 pandemic.

  • For the full year 2020, Five9 expects to report:

  • Revenue in the range of $380.5 to $383.5 million, same as the prior guidance range that was previously provided on February 19, 2020.

  • GAAP net loss in the range of $(45.4) to $(42.4) million, or $(0.72) to $(0.67) per basic share, lower than the prior guidance range of $(30.9) to $(27.9) million, or $(0.48) to $(0.43) per basic share, that was previously provided on February 19, 2020.

  • Non-GAAP net income in the range of $48.3 to $51.3 million, or $0.72 to $0.76 per diluted share, lower than the prior guidance range of $55.5 to $58.5 million, or $0.83 to $0.87 per diluted share, that was previously provided on February 19, 2020.

  • For the second quarter of 2020, Five9 expects to report:

  • Revenue in the range of $90.5 to $91.5 million.

  • GAAP net loss in the range of $(16.7) to $(15.7) million, or $(0.27) to $(0.25) per basic share.

  • Non-GAAP net income in the range of $9.8 to $10.8 million, or $0.15 to $0.16 per diluted share.

Conference Call Details

Five9 will discuss its first quarter 2020 results today, May 4, 2020, via teleconference at 4:30 p.m. Eastern Time. To access the call (ID 6923609), please dial: 888-394-8218 or 720-452-9217. An audio replay of the call will be available through May 18, 2020 by dialing 888-203-1112 or 719-457-0820 and entering access code 6923609. 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 web-site, prior to the conference call.

A webcast of the call 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 and stock-based compensation. 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, interest (income) and other, acquisition-related transaction costs, non-recurring litigation settlement costs and related indemnification fees, and provision for (benefit from) income taxes. We calculate non-GAAP operating income as GAAP operating income excluding stock-based compensation, intangibles amortization, acquisition-related transaction costs, and non-recurring litigation settlement costs and related indemnification fees. We calculate non-GAAP net income as GAAP net loss excluding stock-based compensation, intangibles amortization, amortization of discount and issuance costs on convertible senior notes, acquisition-related transaction costs, non-recurring litigation settlement costs and related indemnification fees, and gain on sale of convertible note held for investment. 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. Five9 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 herein and attached to this release.

Forward-Looking Statements

This news release contains certain forward-looking statements, including the statements in the quote from our Chief Executive Officer, including statements regarding Five9’s expectations for acceleration from on premise contact centers to the cloud and drivers thereof, Five9’s ability to continue to deliver a high level of service to its customers, and Five9’s growth expectations, and the second quarter and full year 2020 financial projections 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 effects of the COVID-19 pandemic have materially affected how we, our clients and business partners are operating, and the duration and extent to which this will impact our future results of operations and overall financial performance remains uncertain; (ii) 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; (iii) if we are unable to attract new clients or sell additional services and functionality to our existing clients, our revenue and revenue growth will be harmed; (iv) our recent rapid 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; (v) failure to adequately retain and expand our sales force will impede our growth; (vi) if we fail to manage our technical operations infrastructure, our existing clients may experience service outages, our new clients may experience delays in the deployment of our solution and we could be subject to, among other things, claims for credits or damages; (vii) 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; (viii) we have established, and are continuing to increase, our network of master agents and resellers to sell our solution; our failure to effectively develop, manage, and maintain this network could materially harm our revenues; (ix) adverse economic conditions may harm our business; (x) security breaches and improper access to or disclosure of our data or our clients’ data, their customers’ data, or other cyber attacks on our systems, could result in litigation and regulatory risk, harm our reputation and our business; (xi) the markets in which we participate involve numerous competitors and are highly competitive, and if we do not compete effectively, our operating results could be harmed; (xii) if our existing clients terminate their subscriptions or reduce their subscriptions and related usage, our revenues and gross margins will be harmed and we will be required to spend more money to grow our client base; (xiii) 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; (xiv) because a significant percentage of our revenue is derived from existing clients, downturns or upturns in new sales will not be immediately reflected in our operating results and may be difficult to discern; (xv) we rely on third-party telecommunications and internet service providers to provide our clients 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 clients and subject us to claims for credits or damages, among other things; (xvi) we have a history of losses and we may be unable to achieve or sustain profitability; (xvii) the contact center software solutions market is subject to rapid technological change, and we must develop and sell incremental and new products in order to maintain and grow our business; (xviii) we may not be able to secure additional financing on favorable terms, or at all, to meet our future capital needs; (xix) we may acquire other companies or technologies or be the target of strategic transactions, which could divert our management’s attention, result in additional dilution to our stockholders and otherwise disrupt our operations and harm our operating results; (xx) failure to comply with laws and regulations could harm our business and our reputation; (xxi) we may not have sufficient cash to service our convertible senior notes and repay such notes, if required; and (xxii) 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

Five9 is a leading provider of cloud contact center software for the intelligent contact center space, bringing the power of cloud innovation to customers and facilitating more than six billion call minutes annually. Five9 provides end-to-end solutions with omnichannel routing, analytics, WFO and AI to increase agent productivity and deliver tangible business results. The Five9 Genius platform is reliable, secure, compliant and scalable; designed to create exceptional personalized customer experiences. For more information, visit www.five9.com.

FIVE9, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

 

March 31, 2020

 

December 31, 2019

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

155,863 

 

 

$

77,976 

 

Marketable investments

 

170,433 

 

 

241,973 

 

Accounts receivable, net

 

39,972 

 

 

37,655 

 

Prepaid expenses and other current assets

 

13,396 

 

 

10,656 

 

Deferred contract acquisition costs

 

14,317 

 

 

13,014 

 

Total current assets

 

393,981 

 

 

381,274 

 

Property and equipment, net

 

34,940 

 

 

33,190 

 

Operating lease right-of-use assets

 

11,034 

 

 

8,746 

 

Intangible assets, net

 

14,543 

 

 

15,533 

 

Goodwill

 

11,798 

 

 

11,798 

 

Other assets

 

3,316 

 

 

1,184 

 

Deferred contract acquisition costs — less current portion

 

34,047 

 

 

30,655 

 

Total assets

 

$

503,659 

 

 

$

482,380 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

8,367 

 

 

$

10,156 

 

Accrued and other current liabilities

 

24,738 

 

 

18,385 

 

Operating lease liabilities

 

6,087 

 

 

5,064 

 

Accrued federal fees

 

1,754 

 

 

2,303 

 

Sales tax liabilities

 

1,723 

 

 

1,885 

 

Finance lease liabilities

 

2,812 

 

 

3,518 

 

Deferred revenue

 

25,632 

 

 

24,681 

 

Total current liabilities

 

71,113 

 

 

65,992 

 

Convertible senior notes

 

212,924 

 

 

209,604 

 

Sales tax liabilities — less current portion

 

843 

 

 

838 

 

Operating lease liabilities — less current portion

 

5,438 

 

 

4,329 

 

Finance lease liabilities — less current portion

 

286 

 

 

809 

 

Other long-term liabilities

 

6,589 

 

 

4,350 

 

Total liabilities

 

297,193 

 

 

285,922 

 

Stockholders’ equity:

 

 

 

 

Common stock

 

62 

 

 

61 

 

Additional paid-in capital

 

368,260 

 

 

351,870 

 

Accumulated other comprehensive income

 

1,630 

 

 

576 

 

Accumulated deficit

 

(163,486)

 

 

(156,049)

 

Total stockholders’ equity

 

206,466 

 

 

196,458 

 

Total liabilities and stockholders’ equity

 

$

503,659 

 

 

$

482,380 

 

 

 

 

 

 

 

FIVE9, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

 

 

 

 

 

Revenue

 

$

95,088 

 

 

$

74,538 

 

Cost of revenue

 

40,037 

 

 

30,851 

 

Gross profit

 

55,051 

 

 

43,687 

 

Operating expenses:

 

 

 

 

Research and development

 

15,189 

 

 

10,546 

 

Sales and marketing

 

30,160 

 

 

21,701 

 

General and administrative

 

14,658 

 

 

11,762 

 

Total operating expenses

 

60,007 

 

 

44,009 

 

Loss from operations

 

(4,956)

 

 

(322)

 

Other income (expense), net:

 

 

 

 

Interest expense

 

(3,484)

 

 

(3,396)

 

Interest income and other

 

1,072 

 

 

1,745 

 

Total other income (expense), net

 

(2,412)

 

 

(1,651)

 

Loss before income taxes

 

(7,368)

 

 

(1,973)

 

Provision for (benefit from) income taxes

 

69 

 

 

(49)

 

Net loss

 

$

(7,437)

 

 

$

(1,924)

 

Net loss per share:

 

 

 

 

Basic and diluted

 

$

(0.12)

 

 

$

(0.03)

 

Shares used in computing net loss per share:

 

 

 

 

Basic and diluted

 

61,705 

 

 

59,367 

 

 

 

 

 

 

 

 

FIVE9, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

Cash flows from operating activities:

 

 

 

 

Net loss

 

$

(7,437)

 

 

$

(1,924)

 

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

4,970 

 

 

3,192 

 

Amortization of operating lease right-of-use assets

 

1,394 

 

 

1,010 

 

Amortization of premium on marketable investments

 

177 

 

 

(421)

 

Provision for doubtful accounts

 

255 

 

 

14 

 

Stock-based compensation

 

13,794 

 

 

8,686 

 

Gain on sale of convertible note held for investment

 

— 

 

 

(217)

 

Amortization of discount and issuance costs on convertible senior notes

 

3,320 

 

 

3,079 

 

Others

 

147 

 

 

(17)

 

Changes in operating assets and liabilities:

 

 

 

 

Accounts receivable

 

(2,620)

 

 

(1,046)

 

Prepaid expenses and other current assets

 

(2,754)

 

 

(1,721)

 

Deferred contract acquisition costs

 

(4,695)

 

 

(2,471)

 

Other assets

 

(2,132)

 

 

(7,845)

 

Accounts payable

 

(1,121)

 

 

552 

 

Accrued and other current liabilities

 

4,802 

 

 

7,724 

 

Accrued federal fees and sales tax liability

 

(707)

 

 

(425)

 

Deferred revenue

 

3,378 

 

 

416 

 

Other liabilities

 

(377)

 

 

2,604 

 

Net cash provided by operating activities

 

10,394 

 

 

11,190 

 

Cash flows from investing activities:

 

 

 

 

Purchases of marketable investments

 

(62,339)

 

 

(34,427)

 

Proceeds from maturities of marketable investments

 

134,610 

 

 

39,497 

 

Purchases of property and equipment

 

(6,045)

 

 

(3,985)

 

Cash paid to acquire substantially all of the assets of Whendu LLC

 

(100)

 

 

— 

 

Proceeds from sale of convertible note held for investment

 

— 

 

 

217 

 

Net cash provided by investing activities

 

66,126 

 

 

1,302 

 

Cash flows from financing activities:

 

 

 

 

Proceeds from exercise of common stock options

 

2,596 

 

 

982 

 

Payments of finance leases

 

(1,229)

 

 

(1,894)

 

Net cash provided by (used in) financing activities

 

1,367 

 

 

(912)

 

Net increase in cash and cash equivalents

 

77,887 

 

 

11,580 

 

Cash and cash equivalents:

 

 

 

 

Beginning of period

 

77,976 

 

 

81,912 

 

End of period

 

$

155,863 

 

 

$

93,492 

 

 

 

 

 

 

 

 

 

FIVE9, INC.

RECONCILIATION OF GAAP GROSS PROFIT TO ADJUSTED GROSS PROFIT

(In thousands, except percentages)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

 

 

 

 

 

GAAP gross profit

 

$

55,051 

 

 

$

43,687 

 

GAAP gross margin

 

57.9 

%

 

58.6 

%

Non-GAAP adjustments:

 

 

 

 

Depreciation

 

2,850 

 

 

2,278 

 

Intangibles amortization

 

1,090 

 

 

88 

 

Stock-based compensation

 

1,989 

 

 

1,229 

 

Adjusted gross profit

 

$

60,980 

 

 

$

47,282 

 

Adjusted gross margin

 

64.1 

%

 

63.4 

%

 

 

FIVE9, INC.

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA

(In thousands, except percentages)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

 

 

 

 

 

GAAP net loss

 

$

(7,437)

 

 

$

(1,924)

 

Non-GAAP adjustments:

 

 

 

 

Depreciation and amortization

 

4,970 

 

 

3,192 

 

Stock-based compensation

 

13,794 

 

 

8,686 

 

Interest expense

 

3,484 

 

 

3,396 

 

Interest income and other

 

(1,072)

 

 

(1,745)

 

Legal and indemnification fees related to settlement

 

— 

 

 

292 

 

Acquisition-related transaction costs

 

329 

 

 

— 

 

Provision for (benefit from) income taxes

 

69 

 

 

(49)

 

Adjusted EBITDA

 

$

14,137 

 

 

$

11,848 

 

Adjusted EBITDA as % of revenue

 

14.9 

%

 

15.9 

%

 

 

 

 

 

 

FIVE9, INC.

RECONCILIATION OF GAAP OPERATING LOSS TO NON-GAAP OPERATING INCOME

(In thousands)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

 

 

 

 

 

Loss from operations

 

$

(4,956)

 

 

$

(322)

 

Non-GAAP adjustments:

 

 

 

 

Stock-based compensation

 

13,794 

 

 

8,686 

 

Intangibles amortization

 

1,090 

 

 

88 

 

Legal and indemnification fees related to settlement

 

— 

 

 

292 

 

Acquisition-related transaction costs

 

329 

 

 

— 

 

Non-GAAP operating income

 

$

10,257 

 

 

$

8,744 

 

 

 

 

 

 

 

FIVE9, INC.

RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET INCOME

(In thousands, except per share data)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

 

 

 

 

 

GAAP net loss

 

$

(7,437)

 

 

$

(1,924)

 

Non-GAAP adjustments:

 

 

 

 

Stock-based compensation

 

13,794 

 

 

8,686 

 

Intangibles amortization

 

1,090 

 

 

88 

 

Amortization of discount and issuance costs on convertible senior notes

 

3,320 

 

 

3,079 

 

Legal and indemnification fees related to settlement

 

— 

 

 

292 

 

Acquisition-related transaction costs

 

329 

 

 

— 

 

Gain on sale of convertible note held for investment

 

— 

 

 

(217)

 

Non-GAAP net income

 

$

11,096 

 

 

$

10,004 

 

GAAP net loss per share:

 

 

 

 

Basic and diluted

 

$

(0.12)

 

 

$

(0.03)

 

Non-GAAP net income per share:

 

 

 

 

Basic

 

$

0.18 

 

 

$

0.17 

 

Diluted

 

$

0.17 

 

 

$

0.16 

 

Shares used in computing GAAP net loss per share:

 

 

 

 

Basic and diluted

 

61,705 

 

 

59,367 

 

Shares used in computing non-GAAP net income per share:

 

 

 

 

Basic

 

61,705 

 

 

59,367 

 

Diluted

 

65,161 

 

 

62,754 

 

 

 

 

 

 

 

FIVE9, INC.

SUMMARY OF STOCK-BASED COMPENSATION, DEPRECIATION AND INTANGIBLES AMORTIZATION

(In thousands)

(Unaudited) 

 

 

Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

 

 

Stock-Based Compensation

 

Depreciation

 

Intangibles Amortization

 

Stock-Based Compensation

 

Depreciation

 

Intangibles Amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

1,989 

 

 

$

2,850 

 

 

$

1,090 

 

 

$

1,229 

 

 

$

2,278 

 

 

$

88 

 

Research and development

 

2,806 

 

 

465 

 

 

— 

 

 

1,470 

 

 

440 

 

 

— 

 

Sales and marketing

 

4,106 

 

 

 

 

— 

 

 

2,249 

 

 

 

 

— 

 

General and administrative

 

4,893 

 

 

563 

 

 

— 

 

 

3,738 

 

 

385 

 

 

— 

 

Total

 

$

13,794 

 

 

$

3,880 

 

 

$

1,090 

 

 

$

8,686 

 

 

$

3,104 

 

 

$

88 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIVE9, INC.

RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET INCOME – GUIDANCE

(In thousands, except per share data)

(Unaudited)

 

 

Three Months Ending

 

Year Ending

 

 

June 30, 2020

 

December 31, 2020

 

 

Low

 

High

 

Low

 

High

 

 

 

 

 

 

 

 

 

GAAP net loss

 

$

(16,692)

 

 

$

(15,692)

 

 

$

(45,438)

 

 

$

(42,438)

 

Non-GAAP adjustments:

 

 

 

 

 

 

 

 

Stock-based compensation

 

16,300 

 

 

16,300 

 

 

62,465 

 

 

62,465 

 

Intangibles amortization

 

2,862 

 

 

2,862 

 

 

9,604 

 

 

9,604 

 

Amortization of discount and issuance costs on convertible senior notes

 

3,290 

 

 

3,290 

 

 

13,424 

 

 

13,424 

 

One-time integration costs and expenses

 

2,274 

 

 

2,274 

 

 

6,479 

 

 

6,479 

 

One-time COVID-19 relief bonus for employees

 

1,766 

 

 

1,766 

 

 

1,766 

 

 

1,766 

 

Income tax expense effects (1)

 

— 

 

 

— 

 

 

— 

 

 

— 

 

Non-GAAP net income

 

$

9,800 

 

 

$

10,800 

 

 

$

48,300 

 

 

$

51,300 

 

GAAP net loss per share, basic and diluted

 

$

(0.27)

 

 

$

(0.25)

 

 

$

(0.72)

 

 

$

(0.67)

 

Non-GAAP net income per share:

 

 

 

 

 

 

 

 

Basic

 

$

0.16 

 

 

$

0.17 

 

 

$

0.77 

 

 

$

0.82 

 

Diluted

 

$

0.15 

 

 

$

0.16 

 

 

$

0.72 

 

 

$

0.76 

 

Shares used in computing GAAP net loss per share and non-GAAP net income per share:

 

 

 

 

 

 

 

 

Basic

 

62,500 

 

 

62,500 

 

 

62,900 

 

 

62,900 

 

Diluted

 

67,400 

 

 

67,400 

 

 

67,500 

 

 

67,500 

 

 

 

 

 

 

 

 

 

 

 

  1. Non-GAAP adjustments do not have an impact on our income tax provision due to past non-GAAP losses.

 

 

 

 

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

 

 

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