Slide 1: Q2 2026 Investor Presentation
Q2 2026 Investor Presentation Five9 (NASDAQ: FIVN) August 6, 2026
Slide 2: Safe Harbor
Safe Harbor This presentation is proprietary and is intended solely for the information of the persons to whom it is presented. Disclosure of this presentation, its contents, extracts or abstracts to third parties is not authorized without the express written permission of Five9, Inc. (the “Company”
Slide 3: Q2'26 Results and Key Metrics
Q2’26 Results and Key Metrics Metric Result YoY Growth (%) % of Total Revenue Revenues Total Revenue $312M 10% 100% Subscription(1) 14% 83% Telecom(1) 11% Professional Services(1) 6% Profitability Adjusted Gross Profit $192M 8% 61% Adjusted EBITDA $70M 3% 22% Operating Cash Flow $42M 20% 13% Free Ca
Slide 4: Industry Recognition in CCaaS + AI
Industry Recognition in CCaaS + AI IDC Recognized by Aragon Research as a Leader in first-ever European MarketScape leader for driving innovation in AI Agent 2025 + 2026 platforms, blending real-time CCaaS MarketScape European Globe Leader orchestration, LLMs, and low-code CCaaS design for smarter,
Slide 5: TAM Expansion Driven by AI
TAM Expansion Driven by AI $48B Cloud Contact Center Software + AI AN EXP SIO AI N $24B Cloud Contact Center Software Source: Company estimates; Gartner estimates ©Five9, Inc. All rights reserved. | 5 Note: TAM as of 6/30/2026 based on Company estimates, Gartner estimates
Slide 6: Consistent Revenue Growth
Consistent Revenue Growth Quarterly Revenue ($M) Annual Revenue ($M) $1,266 $312 $1,149 $300 $305 $283 $286 $1,042 $280 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 2024 2025 2026 Guidance Midpoint YoY Growth 13% 12% 8% 8% 9% 10% 14% 10% 10% ©Five9, Inc. All rights reserved. | 6
Slide 7: Subscription Increasing as a Percentage of Total Revenue
Subscription Increasing as a Percentage of Total Revenue Subscription Total Revenue ($M) and % of Total Revenue Telecom $305 $312 PS $300 $283 $286 6% $280 6% $3 00 7% 7% 7% 11% 7% 11% 12% $2 50 13% 12% 12% $2 00 $1 50 82% 82% 83% 80% 81% 81% $1 00 $5 0 $0 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Adjuste
Slide 8: High Customer Retention
High Customer Retention LTM Subscription LTM Subscription + Telecom Dollar-Based Retention Rate Dollar-Based Retention Rate 109% 109% 107% 107% 107% 107% 108% 107% 106% 105% 105% 106% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Note: LTM Dollar-Based Retention Rates based
Slide 9: Operational Efficiency and Profitable Growth
Operational Efficiency and Profitable Growth Drivers of Q2’26 FCF Margin • Seasonally lowest quarter of the year • Variability from the transition to annual Adjusted EBITDA Margin Free Cash Flow Margin customer payments DSO of 35 days in Q2’26 • Acceleration of capital 2% pt YoY decrease expenditure
Slide 10: YoY Reduction and Improvement in Stock-Based Compensation (SBC) Expense
YoY Reduction and Improvement in Stock-Based Compensation (SBC) Expense SBC Expense SBC Expense ($M and % of Revenue) Prior Year vs. In-Year Grants (% of Revenue) 9% pt total reduction in SBC % of revenue 4% pt YoY decrease in SBC % of revenue 2% pt reduction in in-year grants (includes new CEO gran
Slide 11: Continuing to Drive Balanced Growth
Continuing to Drive Balanced Growth YoY Revenue Growth Adjusted EBITDA Margin 36% 33% 34% 34% 33% 32% 24% 19% 25% 26% 24% 22% 13% 12% 8% 9% 10% 8% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Note: Non-GAAP and adjusted metrics exclude depreciation, intangibles amortization, stock-based compensation and unus
Slide 12: Q3'26 and 2026 Guidance
Q3’26 and 2026 Guidance Issued on August 6, 2026 Q3’26 2026 Revenue $316.0M – $322.0M $1.260B – $1.272B GAAP Net Income Per Diluted Share $0.09 – $0.16 $0.71 – $0.82 Non-GAAP Net Income Per Diluted Share $0.77 – $0.81 $3.22 – $3.30 Diluted Shares – GAAP 85.4M 85.8M Diluted Shares – Non-GAAP 76.0M 76
Slide 13: Medium-Term Operating Model
Medium-Term Operating Model Today Medium-Term Model Q2’26 (In 2027) Key Assumptions Revenue (YoY Growth) Revenue (YoY Growth) • Stable macro conditions Total Revenue 10% 10% - 15% • Potential further upside with AI Profit & Expenses (% of Revenue) Profit & Expenses (% of Revenue) • Subscription marg
Slide 14: Appendix
Appendix ©Five9, Inc. All rights reserved. | 14
Slide 15: Balance Sheet Summary
Balance Sheet Summary Quarter Ended $ in Millions June 30, 2026 December 31, 2025 (unaudited) Cash, cash equivalents and marketable investments $ 654.1 $ 696.9 Working capital 722.1 746.7 Total assets 1,830.1 1,790.1 Total debt(1) 737.3 735.5 Total stockholders’ equity 784.8 785.8 (1) Total principa
Slide 16: GAAP to Adjusted Gross Profit Reconciliation
GAAP to Adjusted Gross Profit Reconciliation Q1’25 – Q2’26 $ in thousands, except percentages Quarter Ended (Unaudited) Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GAAP gross profit $ 153,732 $ 155,404 $ 157,280 $ 166,438 $ 170,527 $ 166,744 % GAAP gross margin 55.0 % 54.9 % 55.0 % 55.4 % 55.9 % 53.4 % Depr
Slide 17: GAAP Net Income to Adjusted EBITDA Reconciliation
GAAP Net Income to Adjusted EBITDA Reconciliation Q1’25 – Q2’26 $ in thousands, except percentages Quarter Ended (Unaudited) Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GAAP net income $ 576 $ 1,154 $ 17,973 $ 19,713 $ 18,412 $ 3,367 Non-GAAP adjustments: Depreciation and amortization 14,490 14,649 15,772 1
Slide 18: GAAP to Non-GAAP COR and OpEx Reconciliation
GAAP to Non-GAAP COR and OpEx Reconciliation Q1’25 – Q2’26 $ in thousands, except percentages Quarter Ended (Unaudited) Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GAAP COR $ 125,973 $ 127,865 $ 128,552 $ 133,844 $ 134,792 $ 145,700 % of revenue 45.0 % 45.1 % 45.0 % 44.6 % 44.1 % 46.6 % Depreciation & amort
Slide 19: GAAP to Non-GAAP OpEx Reconciliation
GAAP to Non-GAAP OpEx Reconciliation Q1’25 – Q2’26 $ in thousands, except percentages Quarter Ended (Unaudited) Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GAAP S&M $ 82,855 $ 80,668 $ 71,657 $ 76,636 $ 79,489 $ 79,703 % of revenue 29.6 % 28.5 % 25.1 % 25.5 % 26.0 % 25.5 % Depreciation & amortization (36) (
Slide 20: GAAP to Non-GAAP OpEx Reconciliation
GAAP to Non-GAAP OpEx Reconciliation Q1’25 – Q2’26 $ in thousands, except percentages Quarter Ended (Unaudited) Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GAAP G&A $ 35,205 $ 36,385 $ 34,362 $ 33,902 $ 32,869 $ 42,996 % of revenue 12.6 % 12.8 % 12.0 % 11.3 % 10.8 % 13.8 % Depreciation & amortization (1,891
Slide 21: GAAP to Non-GAAP Net Income Reconciliation
GAAP to Non-GAAP Net Income Reconciliation $ in thousands, except per share data Three Months Ended (Unaudited) Jun 30, 2026 Jun 30, 2025 GAAP net income $ 3,367 $ 1,154 Non-GAAP adjustments: Stock-based compensation 32,980 41,859 Intangibles amortization 3,409 3,464 Amortization of discount and iss
Slide 22: Capital Expenditure and Free Cash Flow (Q1'25 – Q2'26)
Capital Expenditure and Free Cash Flow (Q1’25 – Q2’26) $ in thousands 12 mo ended (Unaudited) Q1'25 Q2'25 Q3'25 Q4'25 12/31/2025 Q1'26 Q2'26 Net cash provided by operating activities $ 48,384 $ 35,061 $ 59,196 $ 83,566 $ 226,207 $ 63,916 $ 42,082 (Refer to cash flows from operating activities in cas
Slide 23: GAAP to Non-GAAP Net Income Reconciliation – Guidance
GAAP to Non-GAAP Net Income Reconciliation Guidance(1) $ in thousands, except per share data Three Months Ended September 30, 2026 Twelve Months Ended December 31, 2026 (Unaudited) Low High Low High GAAP net income $ 8,031 $ 14,071 $ 61,167 $ 70,271 Non-GAAP adjustments: Stock-based compensation (2)
Slide 24: Thank you
Thank you ©Five9, Inc. All rights reserved. | 24