Business
Five9 Reports Second Quarter Revenue Growth of 29% to a Record $99.8 Million
33% Growth in LTM Enterprise Subscription Revenue Eighteenth Consecutive Quarter of Positive Operating Cash Flow at $14.8 Million Raised 2020 Guidance for
About this update from Five9, Inc.
[{"type":"text","content":"\n33% Growth in LTM Enterprise Subscription Revenue\n\n\nEighteenth Consecutive Quarter of Positive Operating Cash Flow at $14.8 Million\n\n\nRaised 2020 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, 2020.\n\n\nSecond Quarter 2020 Financial Results\n\n\n\nRevenue for the second quarter of 2020 increased 29% to a record $99.8 million, compared to $77.4 million for the second quarter of 2019.\n\n\nGAAP gross margin was 57.5% for the second quarter of 2020, compared to 59.6% for the second quarter of 2019.\n\n\nAdjusted gross margin was 65.7% for the second quarter of 2020, compared to 65.0% for the second quarter of 2019.\n\n\nGAAP net loss for the second quarter of 2020 was $(16.1) million, or $(0.25) per basic share, compared to GAAP net loss of $(1.9) million, or $(0.03) per basic share, for the second quarter of 2019.\n\n\nNon-GAAP net income for the second quarter of 2020 was $14.1 million, or $0.21 per diluted share, compared to non-GAAP net income of $12.3 million, or $0.20 per diluted share, for the second quarter of 2019.\n\n\nAdjusted EBITDA for the second quarter of 2020 was $18.3 million, or 18.3% of revenue, compared to $14.4 million, or 18.6% of revenue, for the second quarter of 2019.\n\n\nGAAP operating cash flow for the second quarter of 2020 was $14.8 million, compared to GAAP operating cash flow of $6.8 million for the second quarter of 2019.\n\n\n\n\"We delivered exceptionally strong second quarter results with revenue of $99.8 million. Revenue growth accelerated to 29% year-over-year and 5% sequentially, adjusted EBITDA margin was 18.3%, and we delivered our eighteenth consecutive quarter of positive operating cash flow. We believe the on-premises to cloud and digital transformation trends driving our massive market opportunity are likely to accelerate as work-from-home trends continue and retail sales personnel are increasingly displaced by contact center agents. Our better-than-expected second quarter results and pipeline also demonstrate the strength of our core business and, most importantly, our consistent sales execution. Our increased go-to-market investments are paying dividends, most notably with system integrators and AT&T. ...