Mike Burkland to Return as CEO
Five9, Inc. (NASDAQ:FIVN), a leading provider
of the intelligent cloud contact center software, announced today
that Chief Executive Officer Rowan Trollope has resigned as CEO and
from the Board of Directors and accepted another role as CEO of a
privately held pre-IPO company outside of the CCaaS space. Mike
Burkland, long-time Chairman and former CEO of Five9, has been
appointed to the CEO position. This transition will be effective on
November 28, 2022.
“I’m thrilled to resume the role of CEO and once again lead the
amazing team at Five9 on our exciting journey ahead,” stated Mike
Burkland, Chairman of Five9. “When I was diagnosed with cancer in
2017, I resigned from the CEO post to focus on my health, while
remaining very close to the business as Chairman. Now, following
successful treatments, I am pleased to report that my doctors have
given me a favorable long-term prognosis. I’m so excited to get
‘back on the field’ with the Five9 team, which is a special,
tight-knit group working passionately on the important mission of
enabling our clients to reimagine their customer experience. We are
still in the early innings of the shift to the cloud, driven by key
trends such as digital transformation and the strategic importance
of customer experience. I believe Five9 is very well positioned in
this massive market as we continue to execute on product
innovation, our march up market and international expansion. I
would like to thank Rowan for his outstanding leadership over these
last four and a half years.”
Mike Burkland joined Five9 as CEO in 2008. As CEO for nearly 10
years, Mike established the vision and strategy for Five9 to become
one of the leading providers of cloud contact center software for
the enterprise market, built an organization known for its
exceptional culture and operational excellence, led the company
through its IPO in 2014 and scaled Five9 into one of the fastest
growing public companies in the CCaaS space.
“I’d like to thank Mike and the Board for the opportunity. I'm
honored to have had the chance to serve Five9 customers,
shareholders and employees. I'd like to say a special thank you to
the tremendous team here at Five9 - pioneers who have worked
incredibly hard to lead the industry and set the pace for
innovation and growth in the cloud,” stated Rowan Trollope, CEO of
Five9. “I’ve made a personal career decision to join a unique
venture backed pre-IPO company that I couldn’t say no to and I’m
confident Five9 is in great hands.”
“When Mike stepped down as CEO, we were fortunate to find
Rowan,” stated Dave Welsh, Lead Independent Director of Five9’s
Board. “Rowan has been instrumental in positioning the company for
continued product innovation and expansion both in addressable
market and into large enterprise. We are delighted to have Mike
return to the helm to lead Five9 forward. Mike’s track record of
success for nearly 15 years as both CEO and Chairman, knowledge of
the business and relationships with so many key stakeholders make
him uniquely qualified to lead Five9 into the future.”
Preliminary Results for Third Quarter 2022
Five9 currently expects revenue for the third quarter of 2022 to
be approximately $198 million compared to its original guidance of
revenue in the range of $192.5 to $193.5 million.
Five9 currently expects non-GAAP net income per share to be
approximately $0.38, based on approximately 71.4 million diluted
shares, compared to its original guidance of non-GAAP net income
per share in the range of $0.31 to $0.33.
Five9 will report third quarter 2022 financial results on
November 7, 2022. Five9 will discuss financial results and the CEO
transition on its third quarter earnings conference call. A press
release with the details for the conference call is
forthcoming.
Five9 is providing the above preliminary results based on
current expectations. Our actual results may be different than the
preliminary results as a result of the completion of our financial
closing procedures, final adjustments, and other developments
arising between now and the time that our financial results are
finalized.
With respect to Five9’s expected non-GAAP net income per share,
Five9 has not reconciled to GAAP net loss per share because
stock-based compensation and one-time costs cannot be reasonably
calculated or predicted at this time. Accordingly, a reconciliation
is not available without unreasonable effort.
About Five9
Five9 is an industry-leading provider of cloud contact center
solutions, bringing the power of cloud innovation to more than
2,500 customers worldwide and facilitating billions of call minutes
annually. The Five9 Intelligent Cloud Contact Center provides
digital engagement, analytics, workflow automation, workforce
optimization, and practical AI to create more human customer
experiences, to engage and empower agents, and deliver tangible
business results. Designed to be reliable, secure, compliant, and
scalable, the Five9 platform helps contact centers increase
productivity, be agile, boost revenue, and create customer trust
and loyalty.
For more information, visit
www.five9.com.
Engage with us: Twitter,
LinkedIn, Facebook, Blog,
Dare to Reimagine podcast.
Forward-Looking Statements
This news release contains certain forward-looking statements,
including the statements in the quotes from Mike Burkland, Rowan
Trollope and Dave Welsh, including statements regarding Five9’s
market position, ability to execute on key growth initiatives, Mr.
Burkland’s health, and the third quarter 2022 preliminary results
set forth under the caption “Preliminary Results for Third Quarter
2022,” 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 actual results may differ materially from the
preliminary results as a result of the completion of financial
closing procedures, final adjustments, and other developments
arising between now and the time that our financial results are
finalized; (ii) our CEO transition may disrupt our operations,
result in additional executive and personnel transitions and make
it more difficult for us to hire and retain our employees; (iii)
Mr. Burkland’s health status may change in the future; (iv) our
quarterly and annual results may fluctuate significantly, including
as a result of the timing and success of new product and feature
introductions by us, and may not fully reflect the underlying
performance of our business and may result in decreases in the
price of our common stock; (v) adverse economic conditions may harm
our business, including the current global economic downturn, rise
in interest rates and other factors; (vi) 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; (vii) our recent rapid growth may not be indicative of our
future results; (viii) failure to adequately retain and expand our
sales force will impede our growth; (ix) 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; (x) our growth depends
in part on the success of our strategic relationships with third
parties and our failure to successfully maintain, grow and manage
these relationships could harm our business; (xi) we have
established, and are continuing to increase, our 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; (xii) the markets in which we
participate involve a high number of competitors that is continuing
to increase, and if we do not compete effectively, our operating
results could be harmed; (xiii) we continue to expand our
international operations, which exposes us to significant risks;
(xiv) 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 our business; (xv) we may acquire other companies or
technologies, or be the target of strategic transactions, or be
impacted by transactions by other companies, which could divert our
management’s attention, result in additional dilution to our
stockholders or use a significant amount of our cash resources and
otherwise disrupt our operations and harm our operating results;
(xvi) 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; (xvii) 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; (xviii) 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; (xix) 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 and any failure by these service providers to
provide reliable services could cause us to lose clients and
subject us to claims for credits or damages, among other things;
(xx) we have a history of losses and we may be unable to achieve or
sustain profitability; (xxi) the contact center software solutions
market is subject to rapid technological change, and we must
develop and sell incremental and new solutions in order to maintain
and grow our business; (xxii) the effects of the COVID-19 pandemic
have materially affected how we, our clients and business partners
are operating, and the duration and extent to which this will
impact our future results of operations and overall financial
performance remains uncertain; (xxiii) we may not be able to secure
additional financing on favorable terms, or at all, to meet our
future capital needs; (xxiv) failure to comply with laws and
regulations could harm our business and our reputation; (xxv) we
may not have sufficient cash to service our convertible senior
notes and repay such notes, if required, and other risks attendant
to our convertible senior notes and increased debt levels; and
(xxvi) 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 annual report on Form 10-K and quarterly reports 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221010005350/en/
Investor Relations Contact:
Five9, Inc. Barry Zwarenstein Chief Financial Officer
925-201-2000 ext. 5959 IR@five9.com
The Blueshirt Group for Five9, Inc. Lisa Laukkanen 415-217-4967
Lisa@blueshirtgroup.com
Five9 (NASDAQ:FIVN)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Five9 (NASDAQ:FIVN)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024