Five9 Reports Fourth Quarter Revenue Growth of 31% to a Record $72.3 Million

36% Growth in LTM Enterprise Subscription Revenue

Fourth Quarter GAAP Net Income of $3.7 Million

Fourth Quarter Adjusted EBITDA of $16.4 Million, a Record 22.7% of
Revenue

SAN RAMON, Calif.–(BUSINESS WIRE)–Five9, Inc. (NASDAQ:FIVN), a leading provider of cloud contact center
software for the digital enterprise, today reported results1
for the fourth quarter and full year ended December 31, 2018.

Fourth Quarter 2018 Financial Results

  • Revenue for the fourth quarter of 2018 increased 31% to a record $72.3
    million, compared to $55.4 million for the fourth quarter of 2017.
  • GAAP gross margin was 60.8% for the fourth quarter of 2018, compared
    to 59.6% for the fourth quarter of 2017.
  • Adjusted gross margin was 65.1% for the fourth quarter of 2018,
    compared to 63.6% for the fourth quarter of 2017.
  • GAAP net income for the fourth quarter of 2018 was $3.7 million, or
    $0.06 per diluted share, compared to GAAP net loss of $(0.6) million,
    or $(0.01) per basic share, for the fourth quarter of 2017.
  • Non-GAAP net income for the fourth quarter of 2018 was $14.5 million,
    or $0.23 per diluted share, compared to non-GAAP net income of $4.0
    million, or $0.07 per diluted share, for the fourth quarter of 2017.
  • Adjusted EBITDA for the fourth quarter of 2018 was $16.4 million, or a
    record 22.7% of revenue, compared to $6.9 million, or 12.4% of
    revenue, for the fourth quarter of 2017.
  • GAAP operating cash flow for the fourth quarter of 2018 was $15.5
    million, compared to GAAP operating cash flow of $2.9 million for the
    fourth quarter of 2017.

2018 Financial Results

  • Total revenue for 2018 increased 29% to a record $257.7 million,
    compared to $200.2 million in 2017.
  • GAAP gross margin was 59.6% for 2018, compared to 58.5% in 2017.
  • Adjusted gross margin was 63.9% for 2018, compared to 62.7% in 2017.
  • GAAP net loss for 2018 was $(0.2) million, or $(0.00) per basic share,
    compared to a GAAP net loss of $(9.0) million, or $(0.16) per basic
    share, in 2017.
  • Non-GAAP net income for 2018 was $37.0 million, or $0.60 per diluted
    share, compared to a non-GAAP net income of $6.3 million, or $0.11 per
    diluted share, in 2017.
  • Adjusted EBITDA for 2018 was $46.4 million, or a record 18.0% of
    revenue, compared to $17.6 million, or 8.8% of revenue, in 2017.
  • GAAP operating cash flow for 2018 was $38.6 million, compared to GAAP
    operating cash flow of $11.1 million in 2017.

“We closed 2018 with our strongest quarter ever with fourth quarter
revenue growth accelerating to 31%. This accelerating revenue growth,
combined with our strong execution and expense discipline, allowed us to
deliver 22.7% adjusted EBITDA margin. These stand-out results are
representative of the large market opportunity we are addressing and
continued momentum in our Enterprise business. As customer experience
becomes a strategic priority and the market shifts towards the cloud, we
believe Five9 is extremely well positioned to capitalize on this
opportunity. Our customers view Five9 as a trusted strategic partner who
can help them at every stage of the customer experience journey. We
believe that we are at the nexus of a transformative opportunity, and
that this will enable us to continue to deliver sustained growth and
advance our goal of creating the world’s best intelligent contact center
delivered through the cloud and powered by AI.”

– Rowan Trollope, CEO, Five9

Business Outlook

  • For the full year 2019, Five9 expects to report:

    • Revenue in the range of $298.5 to $301.5 million.
    • GAAP net loss in the range of $(22.1) to $(19.1) million, or
      $(0.36) to $(0.31) per basic share.
    • Non-GAAP net income in the range of $36.8 to $39.8 million, or
      $0.58 to $0.62 per diluted share.
  • For the first quarter of 2019, Five9 expects to report:

    • Revenue in the range of $70.0 to $71.0 million.
    • GAAP net loss in the range of $(5.7) to $(4.7) million, or a loss
      of $(0.10) to $(0.08) per basic share.
    • Non-GAAP net income in the range of $7.1 to $8.1 million, or $0.11
      to $0.13 per diluted share.

1On January 1, 2018, Five9 adopted Accounting Standards
Codification (ASC) 606 “Revenue from Contracts with Customers” using the
modified retrospective transition method. While the financial results
for the fourth quarter and full year 2018 are presented under ASC 606,
financial results for the fourth quarter and full year 2017 are
presented under ASC 605. A reconciliation of the financial results for
the fourth quarter and full year 2018 under ASC 606 and ASC 605 is
presented in the “Reconciliation of ASC 605 to ASC 606 P&L items” table
included in this release.

Conference Call Details

Five9 will discuss its fourth quarter and full year 2018 results today,
February 19, 2019, via teleconference at 4:30 p.m. Eastern Time. To
access the call (ID 2920436), please dial: 800-458-4121 or 323-794-2093.
An audio replay of the call will be available through March 5, 2019 by
dialing 888-203-1112 or 719-457-0820 and entering access code 2920436. 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 website 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 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 income (loss): depreciation,
amortization, stock-based compensation, interest expense, interest
(income) and other, non-recurring litigation settlement costs and
related indemnification fees, reversal of interest and penalties on
accrued federal fees, and provision for income taxes. We calculate
non-GAAP operating income as operating income (loss) excluding
stock-based compensation, intangibles amortization, non-recurring
litigation settlement costs and related indemnification fees, and
reversal of interest and penalties on accrued federal fees. We calculate
non-GAAP net income as GAAP net income (loss) excluding stock-based
compensation, intangibles amortization, amortization of debt discount
and issuance costs, amortization of discount and issuance costs on
convertible senior notes, non-recurring litigation settlement costs and
related indemnification fees, reversal of interest and penalties on
accrued federal fees and non-cash adjustment on 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 market position, business momentum,
expectations for future growth, product positioning, enterprise customer
views of the value of our products and vision for the future, the
Company’s long-term goals, and the first quarter and full year 2019
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) 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; (ii) 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; (iii)
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; (iv) failure to adequately expand our sales force could
impede our growth; (v) 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; (vi) security breaches and improper access to or disclosure of
our data or our clients’ data, or other cyber attacks on our systems,
could result in litigation and regulatory risk, harm our reputation and
adversely affect our business; (vii) 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; (viii)
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; (ix) our growth depends in part on the success of our strategic
relationships with third parties and our failure to successfully grow
and manage these relationships could harm our business; (x) 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; (xi) 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;
(xii) 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; (xiii) 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; (xiv) we have a history of
losses and we may be unable to achieve or sustain profitability; (xv)
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; (xvi) we may not be
able to secure additional financing on favorable terms, or at all, to
meet our future capital needs; (xvii) failure to comply with laws and
regulations could harm our business and our reputation; (xviii) we may
not have sufficient cash to service our convertible senior notes and
repay such notes, if required; and (xix) 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 quarterly report 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
digital enterprise, bringing the power of cloud innovation to customers
and facilitating more than three billion customer interactions
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 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)

 
  December 31, 2018   December 31, 2017
ASSETS
Current assets:
Cash and cash equivalents $ 81,912 $ 68,947
Marketable investments 209,907
Accounts receivable, net 24,797 19,048
Prepaid expenses and other current assets 8,014 4,840
Deferred contract acquisition costs 9,372    
Total current assets 334,002 92,835
Property and equipment, net 25,885 19,888
Intangible assets, net 631 1,073
Goodwill 11,798 11,798
Other assets 836 2,602
Deferred contract acquisition costs — less current portion 21,514    
Total assets $ 394,666   $ 128,196  
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 7,010 $ 4,292
Accrued and other current liabilities 13,771 11,787
Accrued federal fees 1,434 1,151
Sales tax liability 1,741 1,326
Notes payable 336
Capital leases 6,647 6,651
Deferred revenue 17,391   13,975  
Total current liabilities 47,994 39,518
Convertible senior notes 196,763
Revolving line of credit 32,594
Sales tax liability — less current portion 841 1,044
Capital leases — less current portion 4,509 7,161
Other long-term liabilities 1,811   1,041  
Total liabilities 251,918   81,358  
Stockholders’ equity:
Common stock 59 57
Additional paid-in capital 294,279 222,202
Accumulated other comprehensive loss (93 )
Accumulated deficit (151,497 ) (175,421 )
Total stockholders’ equity 142,748   46,838  
Total liabilities and stockholders’ equity $ 394,666   $ 128,196  
 
 

FIVE9, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended

December 31,
2018

 

December 31,
2017

December 31,
2018

 

December 31,
2017

 
Revenue $ 72,335 $ 55,403 $ 257,664 $ 200,225
Cost of revenue 28,339   22,363   104,034   83,104  
Gross profit 43,996 33,040 153,630 117,121
Operating expenses:
Research and development 8,451 6,748 34,172 27,120
Sales and marketing 18,793 17,358 72,001 66,570
General and administrative 10,766   8,767   40,448   29,151  
Total operating expenses 38,010   32,873   146,621   122,841  
Income (loss) from operations 5,986 167 7,009 (5,720 )
Other income (expense), net:
Interest expense (3,462 ) (836 ) (10,245 ) (3,471 )
Interest income and other 1,359   164   3,315   490  
Total other income (expense), net (2,103 ) (672 ) (6,930 ) (2,981 )
Income (loss) before income taxes 3,883 (505 ) 79 (8,701 )
Provision for income taxes 150   126   300   268  
Net income (loss) $ 3,733   $ (631 ) $ (221 ) $ (8,969 )
Net income (loss) per share:
Basic $ 0.06   $ (0.01 ) $   $ (0.16 )
Diluted $ 0.06   $ (0.01 ) $   $ (0.16 )
Shares used in computing net income (loss) per share:        
Basic 58,926   56,034   58,076   54,946  
Diluted 62,071   56,034   58,076   54,946  
 
 

FIVE9, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 
  Twelve Months Ended
December 31, 2018   December 31, 2017
Cash flows from operating activities:
Net loss $ (221 ) $ (8,969 )
Adjustments to reconcile net loss to net cash provided by operating
activities:
Depreciation and amortization 10,274 8,314
Amortization of premium on marketable investments (670 )
Provision for doubtful accounts 90 95
Stock-based compensation 28,484 15,343
Amortization of debt discount and issuance costs 129 80
Amortization of discount and issuance costs on convertible senior
notes
7,881
Reversal of interest and penalties on accrued federal fees (2,133 )
Gain on sale of convertible note held for investment (312 )
Non-cash adjustment on investment (40 ) (366 )
Accretion of interest 44 21
Others 27 (48 )
Changes in operating assets and liabilities:
Accounts receivable (5,829 ) (5,163 )
Prepaid expenses and other current assets (2,806 ) (1,912 )
Deferred contract acquisition costs (7,748 )
Other assets 193 (33 )
Accounts payable 2,418 813
Accrued and other current liabilities 1,865 1,061
Accrued federal fees and sales tax liability 495 90
Deferred revenue 3,956 3,882
Other liabilities 392   31  
Net cash provided by operating activities 38,622   11,106  
Cash flows from investing activities:
Purchases of marketable investments (220,704 )
Proceeds from maturities of marketable investments 11,293
Purchases of property and equipment (9,261 ) (2,650 )
Proceeds from sale of convertible note held for investment 1,923    
Net cash (used in) investing activities (216,749 ) (2,650 )
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net of issuance
costs paid of $8,039
250,711
Payments for capped call transactions (31,412 )
Proceeds from exercise of common stock options 7,779 6,035
Proceeds from sale of common stock under ESPP 5,730 4,101
Payments of employee taxes related to vested common stock (260 )
Repayments on revolving line of credit (32,594 )
Payments of notes payable (318 ) (699 )
Payments of capital leases (8,544 ) (7,068 )
Net cash provided by financing activities 191,092   2,369  
Net increase in cash and cash equivalents 12,965 10,825
Cash and cash equivalents:
Beginning of period 68,947   58,122  
End of period $ 81,912   $ 68,947  
 
 

FIVE9, INC.

RECONCILIATION OF ASC 605 TO ASC 606 P&L ITEMS – GAAP

(In thousands, except per share data and percentages)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended
December 31, 2018 December 31, 2018
ASC 605   Adjustments   ASC 606 ASC 605   Adjustments   ASC 606
Revenue $ 72,583 $ (248 ) $ 72,335 $ 256,548 $ 1,116 $ 257,664
Cost of revenue 28,360   (21 ) 28,339     103,525   509   104,034  
GAAP gross profit 44,223 (227 ) 43,996 153,023 607 153,630
GAAP gross margin 60.9 % 60.8 % 59.6 % 59.6 %
Operating expenses:
Research and development 8,451 8,451 34,172 34,172
Sales and marketing 21,447 (2,654 ) 18,793 79,749 (7,748 ) 72,001
General and administrative 10,766     10,766   40,448     40,448  
Total operating expenses 40,664   (2,654 ) 38,010   154,369   (7,748 ) 146,621  
GAAP income (loss) from operations 3,559 2,427 5,986 (1,346 ) 8,355 7,009
GAAP Operating Margin 4.9 % 8.3 % (0.5 )% 2.7 %
Other income (expense), net (2,103 )   (2,103 ) (6,930 )   (6,930 )
Income (loss) before income taxes 1,456 2,427 3,883 (8,276 ) 8,355 79
Provision for income taxes 150     150   300     300  
GAAP net income (loss) $ 1,306   $ 2,427   $ 3,733   $ (8,576 ) $ 8,355   $ (221 )
Net income (loss) per share:
Basic $ 0.02   $ 0.04   $ 0.06   $ (0.15 ) $ 0.15   $  
Diluted $ 0.02   $ 0.04   $ 0.06   $ (0.15 ) $ 0.15   $  
Shares used in computing net income (loss) per share:
Basic 58,926     58,926   58,076     58,076  
Diluted 62,071     62,071   58,076     58,076  
 
 

FIVE9, INC.

RECONCILIATION OF ASC 605 TO ASC 606 P&L ITEMS – NON-GAAP

(In thousands, except per share data and percentages)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended
December 31, 2018 December 31, 2018
ASC 605   Adjustments   ASC 606 ASC 605   Adjustments   ASC 606
Revenue $ 72,583 $ (248 ) $ 72,335 $ 256,548 $ 1,116 $ 257,664
Cost of revenue 25,289   (21 ) 25,268   92,384   509   92,893  
Adjusted gross profit 47,294 (227 ) 47,067 164,164 607 164,771
Adjusted gross margin 65.2 % 65.1 % 64.0 % 63.9 %
Operating expenses:
Research and development 7,110 7,110 27,833 27,833
Sales and marketing 19,694 (2,654 ) 17,040 73,347 (7,748 ) 65,599
General and administrative 6,507     6,507   24,980     24,980  
Total operating expenses 33,311   (2,654 ) 30,657   126,160   (7,748 ) 118,412  
Adjusted EBITDA 13,983 2,427 16,410 38,004 8,355 46,359
Adjusted EBITDA margin 19.3 % 22.7 % 14.8 % 18.0 %
Depreciation 2,745     2,745   9,832     9,832  
Non-GAAP operating income 11,238 2,427 13,665 28,172 8,355 36,527
Non-GAAP operating margin 15.5 % 18.9 % 11.0 % 14.2 %
Other income (expense), net 996     996   728     728  
Income before income taxes 12,234 2,427 14,661 28,900 8,355 37,255
Provision for income taxes 150     150   300     300  
Non-GAAP net income $ 12,084   $ 2,427   $ 14,511   $ 28,600   $ 8,355   $ 36,955  
 
Non-GAAP net income per share:
Basic $ 0.21   $ 0.04   $ 0.25   $ 0.49   $ 0.15   $ 0.64  
Diluted $ 0.19   $ 0.04   $ 0.23   $ 0.47   $ 0.13   $ 0.60  
Shares used in computing non-GAAP net income per share:
Basic 58,926     58,926   58,076     58,076  
Diluted 62,071     62,071   61,428     61,428  
 
 

FIVE9, INC.

RECONCILIATION OF GAAP GROSS PROFIT TO ADJUSTED GROSS PROFIT

(In thousands, except percentages)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended
December 31, 2018   December 31, 2017 December 31, 2018   December 31, 2017
 
GAAP gross profit $ 43,996 $ 33,040 $ 153,630 $ 117,121
GAAP gross margin 60.8 % 59.6 % 59.6 % 58.5 %
Non-GAAP adjustments:
Depreciation 2,041 1,523 7,456 5,949
Intangibles amortization 88 88 352 351
Stock-based compensation 942   594   3,333   2,202  
Adjusted gross profit $ 47,067   $ 35,245   $ 164,771   $ 125,623  
Adjusted gross margin 65.1 % 63.6 % 63.9 % 62.7 %
 
 

FIVE9, INC.

RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA

(In thousands)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended
December 31, 2018   December 31, 2017 December 31, 2018   December 31, 2017
 
GAAP net income (loss) $ 3,733 $ (631 ) $ (221 ) $ (8,969 )
Non-GAAP adjustments:
Depreciation and amortization 2,838 2,068 10,274 8,314
Stock-based compensation 7,493 4,640 28,484 15,343
Interest expense 3,462 836 10,245 3,471
Interest (income) and other (1,359 ) (164 ) (3,315 ) (490 )
Legal settlement 1,700
Legal and indemnification fees related to settlement 93 592 135
Reversal of interest and penalties on accrued federal fees (G&A) (2,133 )
Provision for income taxes 150   126   300   268  
Adjusted EBITDA $ 16,410   $ 6,875   $ 46,359   $ 17,639  
Adjusted EBITDA as % of revenue 22.7 % 12.4 % 18.0 % 8.8 %
 
 

FIVE9, INC.

RECONCILIATION OF GAAP OPERATING INCOME (LOSS) TO NON-GAAP
OPERATING INCOME

(In thousands)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended
December 31, 2018   December 31, 2017 December 31, 2018   December 31, 2017
 
GAAP operating income (loss) $ 5,986 $ 167 $ 7,009 $ (5,720 )
Non-GAAP adjustments:
Stock-based compensation 7,493 4,640 28,484 15,343
Intangibles amortization 93 116 442 465
Legal settlement 1,700
Legal and indemnification fees related to settlement 93 592 135
Reversal of interest and penalties on accrued federal fees (G&A)       (2,133 )
Non-GAAP operating income $ 13,665   $ 4,923   $ 36,527   $ 9,790  
 
 

FIVE9, INC.

RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME

(In thousands, except per share data)

(Unaudited)

 
  Three Months Ended   Twelve Months Ended
December 31, 2018   December 31, 2017 December 31, 2018   December 31, 2017
 
GAAP net income (loss) $ 3,733 $ (631 ) $ (221 ) $ (8,969 )
Non-GAAP adjustments:
Stock-based compensation 7,493 4,640 28,484 15,343
Intangibles amortization 93 116 442 465
Amortization of debt discount and issuance costs 20 129 80
Amortization of discount and issuance costs on convertible senior
notes
3,099 7,881
Legal settlement 1,700
Legal and indemnification fees related to settlement 93 592 135
Reversal of interest and penalties on accrued federal fees (G&A) (2,133 )
Non-cash adjustment on investment   (133 ) (352 ) (366 )
Non-GAAP net income $ 14,511   $ 4,012   $ 36,955   $ 6,255  
GAAP net income (loss) per share:
Basic $ 0.06   $ (0.01 ) $   $ (0.16 )
Diluted $ 0.06   $ (0.01 ) $   $ (0.16 )
Non-GAAP net income per share:
Basic $ 0.25   $ 0.07   $ 0.64   $ 0.11  
Diluted $ 0.23   $ 0.07   $ 0.60   $ 0.11  
Shares used in computing GAAP net income (loss) per share:
Basic 58,926   56,034   58,076   54,946  
Diluted 62,071   56,034   58,076   54,946  
Shares used in computing non-GAAP net income per share:
Basic 58,926   56,034   58,076   54,946  
Diluted 62,071   59,905   61,428   59,073  
 

Contacts

Investor Relations Contacts:

Five9, Inc.
Barry Zwarenstein
Chief Financial Officer
925-201-2000
ext. 5959
[email protected]

The Blueshirt Group for Five9, Inc.
Lisa Laukkanen
415-217-4967
[email protected]

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