37% Growth in LTM Enterprise Subscription
Revenue
Tenth Consecutive Quarter of Positive Operating
Cash Flow at $5.7 Million
Five9, Inc. (NASDAQ:FIVN), a leading provider of cloud contact
center software for the digital enterprise, today reported results1
for the second quarter ended June 30, 2018.
Second Quarter 2018 Financial Results
- Revenue for the second quarter of 2018
increased 28% to a record $61.1 million, compared to
$47.7 million for the second quarter of 2017.
- GAAP gross margin was 59.4% for the
second quarter of 2018, compared to 57.5% for the second quarter of
2017.
- Adjusted gross margin was 63.8% for the
second quarter of 2018, compared to 62.3% for the second quarter of
2017.
- GAAP net loss for the second quarter of
2018 was $(2.0) million, or $(0.04) per basic share, compared to
GAAP net loss of $(4.0) million, or $(0.07) per basic share, for
the second quarter of 2017. GAAP net loss for the second quarter of
2018 included $1.7 million in amortization of discount and issuance
costs on our 0.125% convertible senior notes issued in May
2018.
- Non-GAAP net income for the second
quarter of 2018 was $6.9 million, or $0.11 per diluted share,
compared to non-GAAP net loss of $(0.1) million, or $(0.00) per
basic share, for the second quarter of 2017.
- Adjusted EBITDA for the second quarter
of 2018 was $9.7 million, or a record 15.8% of revenue, compared to
$3.0 million, or 6.2% of revenue, for the second quarter of
2017.
- GAAP operating cash flow for the second
quarter of 2018 was $5.7 million, compared to GAAP operating cash
flow of $0.1 million for the second quarter of 2017.
“Our second quarter results significantly exceeded our
expectations on both the top and bottom line. Revenue growth
accelerated in Q2, up 28% year-over-year to $61.1 million, and
continued to be driven by our Enterprise business, which delivered
37% growth in LTM Enterprise subscription revenue. I am excited to
be taking the helm at Five9 as contact centers undergo a massive
technology-enabled transformation driven by the move to the cloud
and the rise of artificial intelligence (AI). Our vision is to
create a self-learning, intelligent contact center delivered
through the cloud and powered by AI. Our recently announced Five9
Genius and partnership with Google, which brings practical AI
enhancements to the contact center, is the first step in this
direction. As Five9 continues to disrupt this massive market, we
are also laser-focused on near-term execution.”
- Rowan Trollope, CEO, Five9
Business Outlook
The guidance below includes the expected impact of the adoption
of ASC 606.
- For the full year 2018, Five9
expects to report:
- Revenue in the range of $244.5 to
$246.5 million, up from the prior guidance range
of $235.8 to $238.8 million that was previously
provided on May 1, 2018.
- GAAP net loss in the range of $(14.0)
to $(12.0) million, or $(0.24) to $(0.20) per basic share, compared
to the prior guidance range of $(13.0) to
$(10.0) million, or $(0.22) to $(0.17) per
basic share, that was previously provided on May 1, 2018. GAAP
net loss guidance includes $7.9 million in amortization of discount
and issuance costs on our convertible senior notes, offset by $2.5
million net interest savings from the use of our convertible
proceeds.
- Non-GAAP net income in the range of
$24.0 to $26.0 million, or $0.39 to $0.42 per diluted share,
improved from the prior guidance range of $15.4 to
$18.4 million, or $0.25 to $0.30 per diluted share,
that was previously provided on May 1, 2018. Non-GAAP net
income guidance includes $2.5 million net interest savings from the
use of our convertible proceeds.
- For the third quarter of 2018, Five9
expects to report:
- Revenue in the range of $61.0 to $62.0
million.
- GAAP net loss in the range of $(8.1) to
$(7.1) million, or a loss of $(0.14) to $(0.12) per basic share.
GAAP net loss guidance includes $3.0 million in amortization of
discount and issuance costs on our convertible senior notes, offset
by $1.0 million net interest savings from the use of our
convertible proceeds.
- Non-GAAP net income in the range of
$5.1 to $6.1 million, or $0.08 to $0.10 per diluted share. Non-GAAP
net income guidance includes $1.0 million net interest savings from
the use of our convertible proceeds.
1On January 1, 2018, Five9 adopted Accounting Standards
Codification (ASC) 606 “Revenue from Contracts with Customers”
using the modified retrospective transition method. While the
financial results for the second quarter of 2018 are presented
under ASC 606, financial results for the second quarter of 2017 are
presented under ASC 605. A reconciliation of the financial results
for the second quarter of 2018 under ASC 606 and ASC 605 is
presented in the “Reconciliation of ASC 605 to ASC 606” table
included in this release.
Conference Call Details
Five9 will discuss its second quarter 2018 results today,
August 6, 2018, via teleconference at 4:30 p.m. Eastern Time.
To access the call (ID 6113370), please dial: 888-204-4368 or
323-794-2423. An audio replay of the call will be available through
August 20, 2018 by dialing 888-203-1112 or 719-457-0820 and
entering access code 6113370. A copy of this press release will be
furnished to the Securities and Exchange Commission on a Current
Report on Form 8-K, and will be posted to our web site, prior to
the conference call.
A webcast of the call will be available on the Investor
Relations section of the Company’s website at
http://investors.five9.com/.
Non-GAAP Financial Measures
In addition to disclosing financial measures prepared in
accordance with U.S. generally accepted accounting principles
(GAAP), this press release and the accompanying tables contain
certain non-GAAP financial measures. We calculate adjusted gross
profit by adding back or removing the following items to gross
profit: depreciation, intangibles amortization and stock-based
compensation expense. We calculate adjusted EBITDA by adding back
or removing the following items to or from GAAP net loss:
depreciation, amortization, interest expense, provision for income
taxes, stock-based compensation expense, non-recurring litigation
settlement costs and interest income and other, which consists
primarily of a non-cash adjustment on investment, interest income
and foreign exchange gains and losses. We calculate non-GAAP
operating income (loss) as operating income (loss) excluding
stock-based compensation expense, intangibles amortization and
non-recurring litigation settlement costs. We calculate non-GAAP
net income (loss) as GAAP net loss excluding stock-based
compensation expense, intangibles amortization, amortization of
debt discount and issuance costs, amortization of discount and
issuance costs on convertible senior notes, non-recurring
litigation settlement costs, and non-cash adjustments on
investment. Non-GAAP financial measures do not have any
standardized meaning and are therefore unlikely to be comparable to
similarly titled measures presented by other
companies. Five9 considers these non-GAAP financial
measures to be important because they provide useful measures of
the operating performance of the Company, exclusive of factors that
do not directly affect what we consider to be our core operating
performance, as well as unusual events. The Company’s management
uses these measures to (i) illustrate underlying trends in the
Company’s business that could otherwise be masked by the effect of
income or expenses that are excluded from non-GAAP measures, and
(ii) establish budgets and operational goals for managing the
Company’s business and evaluating its performance. In addition,
investors often use similar measures to evaluate the operating
performance of a company. Non-GAAP financial measures are presented
only as supplemental information for purposes of understanding the
Company's operating results. The non-GAAP financial measures should
not be considered a substitute for financial information presented
in accordance with GAAP. Please see the reconciliation of non-GAAP
financial measures set forth herein and attached to this
release.
Forward-Looking Statements
This news release contains certain forward-looking statements,
including the statements in the quote from our Chief Executive
Officer, including statements regarding Five9’s market position,
business momentum, product positioning and company vision, the
state of the cloud customer experience market, the industry shift
to the cloud, and the third quarter 2018 and full year 2018
financial projections set forth under the caption “Business
Outlook,” that are based on our current expectations and involve
numerous risks and uncertainties that may cause these
forward-looking statements to be inaccurate. Risks that may cause
these forward-looking statements to be inaccurate include, among
others: (i) our quarterly and annual results may fluctuate
significantly, may not fully reflect the underlying performance of
our business and may result in decreases in the price of our common
stock; (ii) if we are unable to attract new clients or sell
additional services and functionality to our existing clients, our
revenue and revenue growth will be harmed; (iii) our recent rapid
growth may not be indicative of our future growth, and even if we
continue to grow rapidly, we may fail to manage our growth
effectively; (iv) failure to adequately expand our sales force
could impede our growth; (v) if we fail to manage our technical
operations infrastructure, our existing clients may experience
service outages, our new clients may experience delays in the
deployment of our solution and we could be subject to, among other
things, claims for credits or damages; (vi) security breaches and
improper access to or disclosure of our data or our clients’ data,
or other cyber attacks on our systems, could result in litigation
and regulatory risk, harm our reputation and adversely affect our
business; (vii) the markets in which we participate are highly
competitive, and if we do not compete effectively, our operating
results could be harmed; (viii) if our existing clients terminate
their subscriptions or reduce their subscriptions and related
usage, our revenues and gross margins will be harmed and we will be
required to spend more money to grow our client base; (ix) our
growth depends in part on the success of our strategic
relationships with third parties and our failure to successfully
grow and manage these relationships could harm our business; (x) we
are establishing a network of master agents and resellers to sell
our solution; our failure to effectively develop, manage, and
maintain this network could materially harm our revenues; (xi) we
sell our solution to larger organizations that require longer sales
and implementation cycles and often demand more configuration and
integration services or customized features and functions that we
may not offer, any of which could delay or prevent these sales and
harm our growth rates, business and operating results; (xii)
because a significant percentage of our revenue is derived from
existing clients, downturns or upturns in new sales will not be
immediately reflected in our operating results and may be difficult
to discern; (xiii) we rely on third-party telecommunications and
internet service providers to provide our clients and their
customers with telecommunication services and connectivity to our
cloud contact center software, any increase in the cost thereof,
reduction in efficacy or any failure by these service providers to
provide reliable services could cause us to lose customers,
increase our customers’ cost of using our solution and subject us
to, among other things, claims for credits or damages; (xiv) we
have a history of losses and we may be unable to achieve or sustain
profitability; (xv) we may not be able to secure additional
financing on favorable terms, or at all, to meet our future capital
needs; (xvi) failure to comply with laws and regulations could harm
our business and our reputation; and (xvii) the other risks
detailed from time-to-time under the caption “Risk Factors” and
elsewhere in our Securities and Exchange Commission filings and
reports, including, but not limited to, our most recent quarterly
report on Form 10-Q. Such forward-looking statements speak only as
of the date hereof and readers should not unduly rely on such
statements. We undertake no obligation to update the information
contained in this press release, including in any forward-looking
statements.
About Five9
Five9 is a leading provider of cloud contact center software for
the digital enterprise, bringing the power of cloud innovation to
customers and facilitating more than three billion customer
interactions annually. Five9 provides end-to-end
solutions with omnichannel routing, analytics, WFO, and AI to
increase agent productivity and deliver tangible
business results. The Five9 platform is reliable, secure,
compliant, and scalable; designed to create exceptional
personalized customer experiences. For more information, visit
www.five9.com.
FIVE9, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands)
(Unaudited)
June 30, 2018 December 31, 2017
ASSETS Current assets: Cash and cash equivalents $
166,162 $ 68,947 Marketable investments 108,140 — Accounts
receivable, net 20,167 19,048 Prepaid expenses and other current
assets 8,437 4,840 Deferred contract acquisition costs 8,083
— Total current assets 310,989 92,835 Property and
equipment, net 22,019 19,888 Intangible assets, net 841 1,073
Goodwill 11,798 11,798 Other assets 1,026 2,602 Deferred contract
acquisition costs — less current portion 18,393 —
Total assets $ 365,066 $ 128,196
LIABILITIES AND STOCKHOLDERS’ EQUITY Current
liabilities: Accounts payable $ 6,035 $ 4,292 Accrued and other
current liabilities 13,615 11,787 Accrued federal fees 1,638 1,151
Sales tax liability 1,201 1,326 Notes payable 31 336 Capital leases
7,442 6,651 Deferred revenue 14,750 13,975 Total
current liabilities 44,712 39,518 Convertible senior notes 190,615
— Revolving line of credit — 32,594 Sales tax liability — less
current portion 928 1,044 Capital leases — less current portion
7,869 7,161 Other long-term liabilities 1,436 1,041
Total liabilities 245,560 81,358
Stockholders’ equity: Common stock 58 57 Additional paid-in
capital 273,373 222,202 Accumulated deficit (153,925 ) (175,421 )
Total stockholders’ equity 119,506 46,838
Total liabilities and stockholders’ equity $ 365,066
$ 128,196
FIVE9, INC.
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
(In thousands, except per share data)
(Unaudited)
Three Months Ended Six Months
Ended
June 30,2018
June 30,2017
June 30,2018
June 30,2017
Revenue $ 61,120 $ 47,727 $ 120,025 $ 94,741 Cost of revenue
24,814 20,273 49,516 40,244 Gross
profit 36,306 27,454 70,509 54,497 Operating expenses: Research and
development 8,367 6,836 16,139 13,683 Sales and marketing 17,912
16,932 35,390 32,710 General and administrative 9,833 6,845
18,936 15,705 Total operating expenses 36,112
30,613 70,465 62,098 Income (loss) from
operations 194 (3,159 ) 44 (7,601 ) Other income (expense), net:
Interest expense (2,378 ) (888 ) (3,188 ) (1,770 ) Interest income
and other 206 90 604 208 Total other
income (expense), net (2,172 ) (798 ) (2,584 ) (1,562 ) Loss before
income taxes (1,978 ) (3,957 ) (2,540 ) (9,163 ) Provision for
income taxes 64 50 109 99 Net loss $
(2,042 ) $ (4,007 ) $ (2,649 ) $ (9,262 ) Net loss per share: Basic
and diluted $ (0.04 ) $ (0.07 ) $ (0.05 ) $ (0.17 ) Shares used in
computing net loss per share: Basic and diluted 57,903
54,723 57,453 54,208
FIVE9, INC.
CONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWS
(In thousands)
(Unaudited)
Six Months Ended June 30, 2018
June 30, 2017 Cash flows from operating activities:
Net loss $ (2,649 ) $ (9,262 ) Adjustments to reconcile net loss to
net cash provided by operating activities: Depreciation and
amortization 4,769 4,365 Amortization of premium on marketable
investments (43 ) — Provision for doubtful accounts 66 45
Stock-based compensation 12,122 6,983 Gain on sale of convertible
note held for investment (312 ) — Non-cash adjustment on investment
(40 ) (161 ) Amortization of debt discount and issuance costs 40 40
Amortization of discount and issuance costs on convertible senior
notes 1,733 — Accretion of interest 44 10 Others (19 ) (14 )
Changes in operating assets and liabilities: Accounts receivable
(1,114 ) (2,426 ) Prepaid expenses and other current assets (3,140
) (4,106 ) Deferred contract acquisition costs (3,338 ) — Other
assets 4 166 Accounts payable 1,493 1,187 Accrued and other current
liabilities 2,415 909 Accrued federal fees and sales tax liability
246 171 Deferred revenue 1,170 2,025 Other liabilities 261
311 Net cash provided by operating activities 13,708
243
Cash flows from investing activities: Purchases
of marketable investments (109,506 ) — Proceeds from maturities of
marketable investments 1,400 — Purchases of property and equipment
(1,092 ) (1,178 ) Proceeds from sale of convertible note held for
investment 1,923 — Net cash used in investing
activities (107,275 ) (1,178 )
Cash flows from financing
activities: Proceeds from issuance of convertible senior notes,
net of issuance costs paid of $7,946 250,804 — Payments for capped
call transactions (31,412 ) — Proceeds from exercise of common
stock options 5,821 2,303 Proceeds from sale of common stock under
ESPP 2,884 1,800 Repayments on revolving line of credit (32,594 ) —
Payments of notes payable (318 ) (400 ) Payments of capital leases
(4,403 ) (3,741 ) Net cash provided by (used in) financing
activities 190,782 (38 ) Net increase (decrease) in cash and
cash equivalents 97,215 (973 )
Cash and cash equivalents:
Beginning of period 68,947 58,122 End of period $
166,162 $ 57,149
FIVE9, INC.
RECONCILIATION OF ASC 605 TO ASC 606
P&L ITEMS - GAAP
(In thousands, except per share data and
percentages)
(Unaudited)
Three Months Ended June 30, 2018 ASC
605 Adjustments ASC 606
Revenue $ 60,772 $ 348 $
61,120 Cost of revenue 24,668 146 24,814
GAAP gross profit 36,104 202
36,306 GAAP gross margin 59.4 %
59.4 % Operating expenses: Research and development
8,367 —
8,367
Sales and marketing 19,588 (1,676 )
17,912 General and administrative 9,833 —
9,833
Total operating expenses 37,788 (1,676 ) 36,112
GAAP income (loss) from operations (1,684
) 1,878 194 GAAP Operating Margin
(2.8 )% 0.3 % Other income (expense),
net (2,172 ) —
(2,172 ) Loss before income taxes (3,856 ) 1,878 (1,978 ) Provision
for income taxes 64 — 64
GAAP net loss
$ (3,920 ) $ 1,878
$ (2,042 ) Net loss per share: Basic and
diluted $ (0.07 ) $ 0.03 $ (0.04 ) Shares used in computing
net loss per share: Basic and diluted 57,903 — 57,903
FIVE9, INC.
RECONCILIATION OF ASC 605 TO ASC 606
P&L ITEMS - NON-GAAP
(In thousands, except per share data and
percentages)
(Unaudited)
Three Months Ended
June 30, 2018
ASC 605 Adjustments ASC 606
Revenue $ 60,772 $ 348 $
61,120 Cost of revenue 21,951 146 22,097
Adjusted gross profit 38,821 202
39,023 Adjusted gross margin 63.9 %
63.8 % Operating expenses: Research and development
7,070 — 7,070 Sales and marketing 17,973 (1,676 ) 16,297 General
and administrative 5,975 — 5,975 Total
operating expenses 31,018 (1,676 ) 29,342
Adjusted
EBITDA 7,803 1,878 9,681 Adjusted
EBITDA margin 12.8 % 15.8 %
Depreciation 2,333 — 2,333
Non-GAAP
operating income 5,470 1,878 7,348
Non-GAAP operating margin 9.0 % 12.0
% Other income (expense), net (419 ) — (419 ) Income
before income taxes 5,051 1,878 6,929 Provision for income taxes 64
— 64
Non-GAAP net income $
4,987 $ 1,878 $
6,865 Non-GAAP net income per share: Basic $
0.09 $ 0.03 $ 0.12 Diluted $ 0.08 $
0.03 $ 0.11 Shares used in computing non-GAAP net
income per share: Basic 57,903 — 57,903
Diluted 61,105 — 61,105
FIVE9, INC.
RECONCILIATION OF GAAP GROSS PROFIT TO
ADJUSTED GROSS PROFIT
(In thousands, except percentages)
(Unaudited)
Three Months Ended Six Months Ended
June 30, 2018 June 30, 2017 June 30,
2018 June 30, 2017 GAAP gross profit $
36,306 $ 27,454 $ 70,509 $ 54,497 GAAP gross margin 59.4 % 57.5 %
58.7 % 57.5 % Non-GAAP adjustments: Depreciation 1,776 1,628 3,482
3,116 Intangibles amortization 88 88 176 176 Stock-based
compensation 853 575 1,531 1,009
Adjusted gross profit $ 39,023 $ 29,745 $ 75,698
$ 58,798 Adjusted gross margin 63.8 % 62.3 % 63.1 %
62.1 %
FIVE9, INC.
RECONCILIATION OF GAAP NET LOSS TO
ADJUSTED EBITDA
(In thousands)
(Unaudited)
Three Months Ended Six Months
Ended June 30, 2018 June 30, 2017 June
30, 2018 June 30, 2017 GAAP net loss $
(2,042 ) $ (4,007 ) $ (2,649 ) $ (9,262 ) Non-GAAP adjustments:
Depreciation and amortization 2,449 2,270 4,769 4,365 Stock-based
compensation 6,797 3,854 12,122 6,983 Interest expense 2,378 888
3,188 1,770 Interest income and other (206 ) (90 ) (604 ) (208 )
Legal settlement — — — 1,700 Legal and indemnification fees related
to settlement 241 — 241 135 Provision for income taxes 64 50
109 99 Adjusted EBITDA $ 9,681 $ 2,965
$ 17,176 $ 5,582
FIVE9, INC.
RECONCILIATION OF GAAP OPERATING INCOME
(LOSS) TO NON-GAAP OPERATING INCOME
(In thousands)
(Unaudited)
Three Months Ended Six Months Ended
June 30, 2018 June 30, 2017 June 30,
2018 June 30, 2017 Income (loss) from
operations $ 194 $ (3,159 ) $ 44 $ (7,601 ) Non-GAAP adjustments:
Stock-based compensation 6,797 3,854 12,122 6,983 Intangibles
amortization 116 117 232 234 Legal settlement — — — 1,700 Legal and
indemnification fees related to settlement 241 — 241
135 Non-GAAP operating income $ 7,348 $ 812
$ 12,639 $ 1,451
FIVE9, INC.
RECONCILIATION OF GAAP NET LOSS TO
NON-GAAP NET INCOME (LOSS)
(In thousands, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
June 30, 2018 June 30, 2017 June 30,
2018 June 30, 2017 GAAP net loss $ (2,042
) $ (4,007 ) $ (2,649 ) $ (9,262 ) Non-GAAP adjustments:
Stock-based compensation 6,797 3,854 12,122 6,983 Intangibles
amortization 116 117 232 234 Amortization of debt discount and
issuance costs 20 20 40 40 Amortization of discount and issuance
costs on convertible senior notes 1,733 — 1,733 — Legal settlement
— — — 1,700 Legal and indemnification fees related to settlement
241 — 241 135 Non-cash adjustment on investment — (58 ) (352
) (161 ) Non-GAAP net income (loss) $ 6,865 $ (74 ) $ 11,367
$ (331 ) GAAP net loss per share: Basic and diluted $ (0.04
) $ (0.07 ) $ (0.05 ) $ (0.17 ) Non-GAAP net income (loss) per
share: Basic $ 0.12 $ — $ 0.20 $ (0.01 )
Diluted $ 0.11 $ — $ 0.19 $ (0.01 ) Shares
used in computing GAAP net loss per share: Basic and diluted 57,903
54,723 57,453 54,208 Shares used in
computing non-GAAP net income (loss) per share: Basic 57,903
54,723 57,453 54,208 Diluted 61,105
54,723 60,741 54,208
FIVE9, INC.SUMMARY OF
STOCK-BASED COMPENSATION, DEPRECIATION AND INTANGIBLES
AMORTIZATION(In thousands)(Unaudited)
Three Months Ended June 30, 2018
June 30, 2017
Stock-BasedCompensation
Depreciation
IntangiblesAmortization
Stock-BasedCompensation
Depreciation
IntangiblesAmortization
Cost of revenue $ 853 $ 1,776 $ 88 $ 575 $ 1,628 $ 88
Research and development 1,064 233 — 801 237 — Sales and marketing
1,585 2 28 1,224 1 29 General and administrative 3,295 322
— 1,254 287 — Total $ 6,797 $
2,333 $ 116 $ 3,854 $ 2,153 $ 117
Six Months Ended June 30, 2018 June
30, 2017
Stock-BasedCompensation
Depreciation
IntangiblesAmortization
Stock-BasedCompensation
Depreciation
IntangiblesAmortization
Cost of revenue $ 1,531 $ 3,482 $ 176 $ 1,009 $ 3,116 $ 176
Research and development 1,941 427 — 1,438 443 — Sales and
marketing 2,947 3 56 2,152 2 58 General and administrative 5,703
625 — 2,384 570 — Total $ 12,122
$ 4,537 $ 232 $ 6,983 $ 4,131 $
234
FIVE9, INC.RECONCILIATION OF
GAAP NET LOSS TO NON-GAAP NET INCOME – GUIDANCE(In thousands,
except per share data)(Unaudited)
Three Months Ending Year Ending
September 30, 2018 December 31, 2018 Low
High Low High GAAP net
loss $ (8,126 ) $ (7,126 ) $ (13,961 ) $ (11,961 ) Non-GAAP
adjustments: Stock-based compensation 9,966 9,966 29,614 29,614
Intangibles amortization 116 116 442 442 Amortization of discount
and issuance costs on convertible senior notes 3,144 3,144 7,881
7,881 Amortization of debt discount and issuance costs — — 135 135
Legal and indemnification fees related to settlement — — 241 241
Non-cash adjustment on investment — — (352 ) (352 ) Income tax
expense effects (1) — — — — Non-GAAP
net income $ 5,100 $ 6,100 $ 24,000 $ 26,000
GAAP net loss per share, basic and diluted $ (0.14 ) $ (0.12
) $ (0.24 ) $ (0.20 ) Non-GAAP net income per share: Basic $ 0.09
$ 0.10 $ 0.41 $ 0.44 Diluted $ 0.08
$ 0.10 $ 0.39 $ 0.42 Shares used in
computing GAAP net loss per share and non-GAAP net income per
share: Basic 59,000 59,000 58,500 58,500
Diluted 62,500 62,500 62,000 62,000
(1) Non-GAAP adjustments do not have an
impact on our income tax provision due to past non-GAAP losses.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180806005538/en/
Investor Relations Contacts:Five9, Inc.Barry Zwarenstein,
925-201-2000 ext. 5959Chief Financial OfficerIR@five9.comorThe
Blueshirt Group for Five9, Inc.Lisa Laukkanen,
415-217-4967Lisa@blueshirtgroup.com
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