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Five9 Surpasses $1 Billion in Annual Revenue Run Rate
21% Growth in LTM Enterprise Subscription Revenue $126 Million in LTM Operating Cash Flow SAN RAMON, Calif.--(BUSINESS WIRE)-- Five9, Inc. (NASDAQ:FIVN), the
About this update from Five9, Inc.
[{"type":"text","content":"\n21% Growth in LTM Enterprise Subscription Revenue\n\n\n$126 Million in LTM Operating Cash Flow\n\n\n SAN RAMON, Calif.--(BUSINESS WIRE)--\nFive9, Inc. (NASDAQ:FIVN), the Intelligent CX Platform provider, today reported results for the second quarter ended June 30, 2024.\n\n\nSecond Quarter 2024 Financial Results\n\n\n\nRevenue for the second quarter of 2024 increased 13% to a record $252.1 million, compared to $222.9 million for the second quarter of 2023.\n\n\n\nGAAP gross margin was 53.0% for the second quarter of 2024, compared to 53.2% for the second quarter of 2023.\n\n\n\nAdjusted gross margin was 60.5% for the second quarter of 2024, compared to 61.8% for the second quarter of 2023.\n\n\n\nGAAP net loss for the second quarter of 2024 was $(12.8) million, or $(0.17) per basic share, and (5.1)% of revenue, compared to GAAP net loss of $(21.7) million, or $(0.30) per basic share, and (9.8)% of revenue, for the second quarter of 2023.\n\n\n\nNon-GAAP net income for the second quarter of 2024 was $38.9 million, or $0.52 per diluted share, and 15.4% of revenue, compared to non-GAAP net income of $37.4 million, or $0.52 per diluted share, and 16.8% of revenue, for the second quarter of 2023.\n\n\n\nAdjusted EBITDA for the second quarter of 2024 was $41.8 million, or 16.6% of revenue, compared to $41.5 million, or 18.6% of revenue, for the second quarter of 2023.\n\n\n\nGAAP operating cash flow for the second quarter of 2024 was $19.9 million, compared to GAAP operating cash flow of $21.9 million for the second quarter of 2023.\n\n\n\n“We are pleased to report strong second quarter results, achieving a key milestone with annual revenue run rate exceeding $1 billion, primarily driven by LTM enterprise subscription revenue growing 21% year-over-year. Adjusted EBITDA margin reached 17%, helping drive robust LTM operating cash flow of $126 million. As we look to the remainder of the year, we are reducing our annual revenue guidance by 3.8%, reflecting recent bookings trends and the uncertain economic conditions. We remain confident in our massive market opportunity and are committed to driving balanced growth and profitability.\n\n\nAdditionally, we are excited to announce our agreement to acquire Acqueon, which we believe will be a significant step in advancing our AI-powered CX platform and market reach. Also, our latest innovati...