Business
Five9 Reports Second Quarter Revenue Growth of 27% to a Record $77.4 Million
36% Growth in LTM Enterprise Subscription Revenue Fourteenth Consecutive Quarter of Positive Operating Cash Flow Raises 2019 Guidance for Both Revenue and
About this update from Five9, Inc.
[{"type":"text","content":"\n36% Growth in LTM Enterprise Subscription Revenue\n\n\nFourteenth Consecutive Quarter of Positive Operating Cash Flow\n\n\nRaises 2019 Guidance for Both Revenue and Bottom Line\n\n SAN RAMON, Calif.--(BUSINESS WIRE)--\nFive9, Inc. (NASDAQ:FIVN), a leading provider of cloud contact center software, today reported results for the second quarter ended June 30, 2019.\n\n\nSecond Quarter 2019 Financial Results\n\n\n\nRevenue for the second quarter of 2019 increased 27% to a record $77.4 million, compared to $61.1 million for the second quarter of 2018.\n\n\nGAAP gross margin was 59.6% for the second quarter of 2019, compared to 59.4% for the second quarter of 2018.\n\n\nAdjusted gross margin was 65.0% for the second quarter of 2019, compared to 63.8% for the second quarter of 2018.\n\n\nGAAP net loss for the second quarter of 2019 was $(1.9) million, or $(0.03) per basic share, compared to GAAP net loss of $(2.0) million, or $(0.04) per basic share, for the second quarter of 2018.\n\n\nNon-GAAP net income for the second quarter of 2019 was $12.3 million, or $0.20 per diluted share, compared to non-GAAP net income of $6.9 million, or $0.11 per diluted share, for the second quarter of 2018.\n\n\nAdjusted EBITDA for the second quarter of 2019 was $14.4 million, or 18.6% of revenue, compared to $9.7 million, or 15.8% of revenue, for the second quarter of 2018.\n\n\nGAAP operating cash flow for the second quarter of 2019 was $6.8 million, compared to GAAP operating cash flow of $5.7 million for the second quarter of 2018.\n\n\n\n“We delivered strong second quarter results. Revenue of $77.4 million grew 27% year-over-year and continued to be driven by our Enterprise business, which delivered 36% growth in LTM Enterprise subscription revenue. To further strengthen our position in this massive market, we have made a meaningful investment in our engineering and technical leadership and added several key industry leaders to expand our channel development. Our strong enterprise ecosystem continues to grow, most recently with the announcement of our partnership with Microsoft Teams, further demonstrating our momentum. Overall, we are making excellent progress on product innovation and enterprise traction and have a strong team in place, including an awesome go-to-market machine, to continue this momentum.”\n\n\n- Rowan Trollope, CEO, Five9\n\n...