Business
Five9 Reports Second Quarter Revenue Growth of 32% to a Record $189.4 Million
41% Growth in LTM Enterprise Subscription Revenue Raises 2022 Guidance for Both Revenue and Bottom Line SAN RAMON, Calif.--(BUSINESS WIRE)-- Five9, Inc.
About this update from Five9, Inc.
[{"type":"text","content":"\n41% Growth in LTM Enterprise Subscription Revenue\nRaises 2022 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, 2022.\n\nSecond Quarter 2022 Financial Results\n\n\nRevenue for the second quarter of 2022 increased 32% to a record $189.4 million, compared to $143.8 million for the second quarter of 2021.\n\n\nGAAP gross margin was 53.4% for the second quarter of 2022, compared to 55.2% for the second quarter of 2021.\n\n\nAdjusted gross margin was 60.7% for the second quarter of 2022, compared to 63.3% for the second quarter of 2021.\n\n\nGAAP net loss for the second quarter of 2022 was $(23.7) million, or $(0.34) per basic share, compared to GAAP net loss of $(16.5) million, or $(0.25) per basic share, for the second quarter 2021.\n\n\nNon-GAAP net income for the second quarter of 2022 was $24.3 million, or $0.34 per diluted share, compared to non-GAAP net income of $16.0 million, or $0.23 per diluted share, for the second quarter of 2021.\n\n\nAdjusted EBITDA for the second quarter of 2022 was $33.1 million, or 17.5% of revenue, compared to $24.0 million, or 16.7% of revenue, for the second quarter of 2021.\n\n\nGAAP operating cash flow for the second quarter of 2022 was $(3.1) million, compared to GAAP operating cash flow of $11.4 million for the second quarter of 2021.\n\n\n“We are excited to report strong second quarter results with revenue growing 32% year-over-year to a record $189.4 million. This growth continues to be driven primarily by the strength of our Enterprise business where LTM subscription revenue grew 41% year-over-year. This quarter, we achieved an adjusted EBITDA margin of 17%, while continuing to make progress on platform innovation, our march up market and our international expansion. Despite the macro environment uncertainties, we continued to experience strong growth with second quarter record bookings for both new logos and our installed base. Given the mission criticality of contact centers and a massive yet barely penetrated TAM, as well as our leading platform, go-to-market machine and proven execution, we remain confident in delivering durable and profitable growth.”\n\n- Rowan Trollope, CEO, Five9\n\nBusiness Outlook\n\nFive...