fivn-20220728
0001288847false00012888472022-07-282022-07-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
 CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 2022
FIVE9, INC.
(Exact name of Registrant as specified in its charter)
 
Delaware001-3638394-3394123
(State or other jurisdiction
of incorporation)
(Commission File No.)
(I.R.S. Employer
Identification No.)
3001 Bishop Drive, Suite 350
San Ramon, CA 94583
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (925) 201-2000
Not Applicable
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
_______________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common stock, par value $0.001 per shareFIVNThe NASDAQ Global Market
Indicated by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    




Item 2.02 Results of Operations and Financial Condition.
On July 28, 2022, Five9, Inc. (the “Company”) announced its financial results for the fiscal quarter ended June 30, 2022. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1 furnished herewith) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
 
Exhibit No.  Description
  
104The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
   FIVE9, INC.
Date: July 28, 2022   By: /s/ Barry Zwarenstein
    Barry Zwarenstein
    
Chief Financial Officer



Document

Exhibit 99.1
https://cdn.kscope.io/c83f35cf930fefc08071f5093b24a040-newfive9logo.jpg

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. - July 28, 2022 - Five9, Inc. (NASDAQ:FIVN), a leading provider of cloud contact center software, today reported results for the second quarter ended June 30, 2022.
Second Quarter 2022 Financial Results
Revenue 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.
GAAP gross margin was 53.4% for the second quarter of 2022, compared to 55.2% for the second quarter of 2021.
Adjusted gross margin was 60.7% for the second quarter of 2022, compared to 63.3% for the second quarter of 2021.
GAAP 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.
Non-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.
Adjusted 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.
GAAP 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.

“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
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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.”

- Rowan Trollope, CEO, Five9
Business Outlook
Five9 provides guidance based on current market conditions and expectations. Five9 emphasizes that the guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements" below, including risks and uncertainties associated with the global macroeconomic environment, including the impact of the Russia-Ukraine conflict and the COVID-19 pandemic.
For the full year 2022, Five9 expects to report:
Revenue in the range of $780.5 to $782.5 million.
Non-GAAP net income per share in the range of $1.38 to $1.40, assuming diluted shares outstanding of approximately 72.8 million.
For the third quarter of 2022, Five9 expects to report:
Revenue in the range of $192.5 to $193.5 million.
Non-GAAP net income per share in the range of $0.31 to $0.33, assuming diluted shares outstanding of approximately 73.0 million.

With respect to Five9’s guidance as provided above, Five9 has not reconciled its expectations as to non-GAAP net income per share 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.

Conference Call Details
Five9 will discuss its second quarter 2022 results today, July 28, 2022, via Zoom webinar at 4:30 p.m. Eastern Time. To access the webinar, please register by clicking here. 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 website, prior to the conference call.
A live webcast and a replay will be available on the Investor Relations section of the Company’s web-site 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 and adjusted gross margin by adding back the following items to gross profit: depreciation, intangibles amortization, stock-based compensation, exit costs related to the closure and relocation of our Russian operations, acquisition-
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related transaction and one-time integration costs, and refund for prior year overpayment of Universal Service Fund, or USF, fees. We calculate adjusted EBITDA by adding back or removing the following items to or from GAAP net loss: depreciation and amortization, stock-based compensation, interest expense, interest (income) and other, exit costs related to closure and relocation of our Russian operations, acquisition-related transaction costs and one-time integration costs, contingent consideration expense, refund for prior year overpayment of USF fees and provision for (benefit from) income taxes. We calculate non-GAAP operating income by adding back or removing the following items to or from GAAP operating income: stock-based compensation, intangibles amortization, exit costs related to the closure and relocation of our Russian operations, acquisition-related transaction and one-time integration costs, contingent consideration expense and refund for prior year overpayment of USF fees. We calculate non-GAAP net income by adding back or removing the following items to or from GAAP net loss: stock-based compensation, intangibles amortization, amortization of discount and issuance costs on convertible senior notes, exit costs related to the closure and relocation of our Russian operations, acquisition-related transaction costs and one-time integration costs, contingent consideration expense, refund for prior year overpayment of USF fees and tax provision associated with acquired companies. 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. The Company 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 ability to continue to deliver growth and the reasons therefor, and the third quarter and full year 2022 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, 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; (ii) adverse economic conditions may harm our business, including the current global economic downturn; (iii) 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; (iv) 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; (v) failure to adequately retain and expand our sales force will impede our growth; (vi) 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; (vii) our growth depends in part on the success of
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our strategic relationships with third parties and our failure to successfully maintain, grow and manage these relationships could harm our business; (viii) 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; (ix) 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; (x) we continue to expand our international operations, which exposes us to significant risks; (xi) 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; (xii) 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; (xiii) 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; (xiv) 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; (xv) 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; (xvi) 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; (xvii) we have a history of losses and we may be unable to achieve or sustain profitability; (xviii) 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; (xix) 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; (xx) we may not be able to secure additional financing on favorable terms, or at all, to meet our future capital needs; (xxi) failure to comply with laws and regulations could harm our business and our reputation; (xxii) 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 (xxiii) 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.

About Five9
Five9 is a leading provider of cloud contact center software for the intelligent contact center space, bringing the power of cloud innovation to customers and facilitating more than nine billion call minutes 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 Genius platform is reliable, secure, compliant and scalable; designed to create exceptional personalized customer experiences. For more information, visit www.five9.com.
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FIVE9, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
June 30, 2022December 31, 2021
ASSETS
Current assets:
Cash and cash equivalents$101,315 $90,878 
Marketable investments397,067 378,980 
Accounts receivable, net82,885 83,731 
Prepaid expenses and other current assets38,464 30,342 
Deferred contract acquisition costs, net40,306 33,295 
Total current assets660,037 617,226 
Property and equipment, net99,994 77,785 
Operating lease right-of-use assets43,593 48,703 
Intangible assets, net34,015 39,897 
Goodwill165,420 165,420 
Marketable investments60,424 147,377 
Other assets11,886 11,871 
Deferred contract acquisition costs, net — less current portion101,854 84,663 
Total assets$1,177,223 $1,192,942 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$25,931 $20,510 
Accrued and other current liabilities56,894 78,577 
Operating lease liabilities9,836 9,826 
Accrued federal fees— 2,282 
Sales tax liabilities2,253 2,660 
Deferred revenue51,553 43,720 
Convertible senior notes187 — 
Total current liabilities146,654 157,575 
Convertible senior notes - less current portion736,485 768,599 
Sales tax liabilities — less current portion888 877 
Operating lease liabilities — less current portion42,186 47,088 
Other long-term liabilities6,108 7,671 
Total liabilities932,321 981,810 
Stockholders’ equity:
Common stock70 68 
Additional paid-in capital535,592 439,787 
Accumulated other comprehensive loss (4,534)(287)
Accumulated deficit(286,226)(228,436)
Total stockholders’ equity244,902 211,132 
Total liabilities and stockholders’ equity$1,177,223 $1,192,942 

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FIVE9, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Revenue$189,382 $143,782 $372,159 $281,664 
Cost of revenue88,229 64,395 177,096 124,198 
Gross profit101,153 79,387 195,063 157,466 
Operating expenses:
Research and development34,992 24,648 70,816 46,769 
Sales and marketing64,098 46,024 128,709 90,823 
General and administrative23,824 22,909 48,138 45,154 
Total operating expenses122,914 93,581 247,663 182,746 
Loss from operations(21,761)(14,194)(52,600)(25,280)
Other (expense) income, net:
Interest expense(1,857)(2,118)(3,727)(4,056)
Interest income and other280 (353)1,125 (178)
Total other (expense) income, net(1,577)(2,471)(2,602)(4,234)
Loss before income taxes(23,338)(16,665)(55,202)(29,514)
Provision for (benefit from) income taxes332 (135)2,588 (652)
Net loss$(23,670)$(16,530)$(57,790)$(28,862)
Net loss per share:
Basic and diluted$(0.34)$(0.25)$(0.83)$(0.43)
Shares used in computing net loss per share:
Basic and diluted69,748 67,292 69,363 67,008 


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FIVE9, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Six Months Ended
June 30, 2022June 30, 2021
Cash flows from operating activities:
Net loss$(57,790)$(28,862)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization22,435 18,414 
Amortization of operating lease right-of-use assets4,942 4,473 
Amortization of deferred contract acquisition costs18,653 11,468 
Amortization of premium on marketable investments1,114 3,521 
Provision for doubtful accounts505 337 
Stock-based compensation84,179 45,809 
Amortization of discount and issuance costs on convertible senior notes 1,852 1,959 
Deferred taxes2,054 — 
Change in fair of value of contingent consideration260 5,200 
Payment of contingent consideration liability in excess of acquisition-date fair value(5,900)— 
Other172 226 
Changes in operating assets and liabilities:
Accounts receivable310 (5,526)
Prepaid expenses and other current assets(8,092)(5,962)
Deferred contract acquisition costs(42,854)(35,319)
Other assets(70)147 
Accounts payable4,487 1,725 
Accrued and other current liabilities(4,107)23,343 
Accrued federal fees and sales tax liability(2,677)1,277 
Deferred revenue7,571 (2,118)
Other liabilities(1,423)(14,955)
Net cash provided by operating activities25,621 25,157 
Cash flows from investing activities:
Purchases of marketable investments(151,712)(325,628)
Proceeds from sales of marketable investments600 1,557 
Proceeds from maturities of marketable investments214,585 282,048 
Purchases of property and equipment(34,474)(19,477)
Capitalization of software development costs(1,392)— 
Cash paid for an equity investment in a privately-held company(2,000)— 
Net cash provided by (used in) investing activities25,607 (61,500)
Cash flows from financing activities:
Repurchase of a portion of 2023 convertible senior notes, net of costs(34,034)(17,622)
Proceeds from exercise of common stock options3,005 4,439 
Proceeds from sale of common stock under ESPP8,338 8,128 
Payment of contingent consideration liability up to acquisition-date fair value (18,100)— 
Payment of hold back related to an acquisition— (3,200)
Payments of finance leases— (575)
Net cash used in financing activities(40,791)(8,830)
Net increase (decrease) in cash and cash equivalents10,437 (45,173)
Cash and cash equivalents:
Beginning of period90,878 220,372 
End of period$101,315 $175,199 

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FIVE9, INC.
RECONCILIATION OF GAAP GROSS PROFIT TO ADJUSTED GROSS PROFIT
(In thousands, except percentages)
(Unaudited)
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
GAAP gross profit$101,153 $79,387 $195,063 $157,466 
GAAP gross margin53.4 %55.2 %52.4 %55.9 %
Non-GAAP adjustments:
Depreciation5,812 4,878 11,365 9,018 
Intangibles amortization2,935 2,947 5,882 5,894 
Stock-based compensation8,538 3,781 16,330 6,886 
Exit costs related to closure and relocation of Russian operations— 383 — 
Acquisition-related and one-time integration costs80 128 32 
Refund for prior year overpayment of USF fees(3,511)— (3,511)— 
Adjusted gross profit$115,010 $90,995 $225,640 $179,296 
Adjusted gross margin60.7 %63.3 %60.6 %63.7 %


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FIVE9, INC.
RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA
(In thousands, except percentages)
(Unaudited)
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
GAAP net loss$(23,670)$(16,530)$(57,790)$(28,862)
Non-GAAP adjustments:
Depreciation and amortization11,640 9,651 22,435 18,414 
Stock-based compensation44,786 24,901 84,179 45,809 
Interest expense1,857 2,118 3,727 4,056 
Interest (income) and other(280)353 (1,125)178 
Exit costs related to closure and relocation of Russian operations (1)
214 — 3,441 — 
Acquisition-related transaction and one-time integration costs1,714 973 3,352 2,067 
Contingent consideration expense— 2,700 260 5,200 
Refund for prior year overpayment of USF fees(3,511)— (3,511)— 
Provision for (benefit from) income taxes332 (135)2,588 (652)
Adjusted EBITDA$33,082 $24,031 $57,556 $46,210 
Adjusted EBITDA as % of revenue17.5 %16.7 %15.5 %16.4 %
(1) Exit costs related to the closure and relocation of our Russian operations was $1.1 million and $3.9 million during the three and six months ended June 30, 2022. The $0.2 million and $3.4 million adjustments presented above were net of $0.7 million and $0.8 million included in “Depreciation and amortization” and $0.2 million and $(0.3) million included in “Interest (income) and other.”
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FIVE9, INC.
RECONCILIATION OF GAAP OPERATING LOSS TO NON-GAAP OPERATING INCOME
(In thousands)
(Unaudited)
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Loss from operations$(21,761)$(14,194)$(52,600)$(25,280)
Non-GAAP adjustments:
Stock-based compensation44,786 24,901 84,179 45,809 
Intangibles amortization2,935 2,947 5,882 5,894 
Exit costs related to closure and relocation of Russian operations883 — 4,215 — 
Acquisition-related transaction and one-time integration costs1,714 973 3,352 2,067 
Contingent consideration expense— 2,700 260 5,200 
Refund for prior year overpayment of USF fees(3,511)— (3,511)— 
Non-GAAP operating income$25,046 $17,327 $41,777 $33,690 

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FIVE9, INC.
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET INCOME
(In thousands, except per share data)
(Unaudited)
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
GAAP net loss$(23,670)$(16,530)$(57,790)$(28,862)
Non-GAAP adjustments:
Stock-based compensation44,786 24,901 84,179 45,809 
Intangibles amortization2,935 2,947 5,882 5,894 
Amortization of discount and issuance costs on convertible senior notes922 985 1,852 1,959 
Exit costs related to closure and relocation of Russian operations1,125 — 3,874 — 
Acquisition-related transaction and one-time integration costs1,714 973 3,352 2,067 
Contingent consideration expense— 2,700 260 5,200 
Refund for prior year overpayment of USF fees(3,511)— (3,511)— 
Tax provision associated with acquired companies— — 1,830 — 
Non-GAAP net income$24,301 $15,976 $39,928 $32,067 
GAAP net loss per share:
Basic and diluted$(0.34)$(0.25)$(0.83)$(0.43)
Non-GAAP net income per share:
Basic$0.35 $0.24 $0.58 $0.48 
Diluted$0.34 $0.23 $0.56 $0.45 
Shares used in computing GAAP net loss per share:
Basic and diluted69,748 67,292 69,363 67,008 
Shares used in computing non-GAAP net income per share:
Basic69,748 67,292 69,363 67,008 
Diluted71,083 70,774 70,869 70,640 


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FIVE9, INC.
SUMMARY OF STOCK-BASED COMPENSATION, DEPRECIATION AND INTANGIBLES AMORTIZATION
(In thousands)
(Unaudited)
Three Months Ended
June 30, 2022June 30, 2021
Stock-Based CompensationDepreciationIntangibles AmortizationStock-Based CompensationDepreciationIntangibles Amortization
Cost of revenue$8,538 $5,812 $2,935 $3,781 $4,878 $2,947 
Research and development11,818 804 — 6,152 729 — 
Sales and marketing14,963 — 8,208 — 
General and administrative9,467 2,088 — 6,760 1,096 — 
Total$44,786 $8,705 $2,935 $24,901 $6,704 $2,947 
Six Months Ended
June 30, 2022June 30, 2021
Stock-Based CompensationDepreciationIntangibles AmortizationStock-Based CompensationDepreciationIntangibles Amortization
Cost of revenue$16,330 $11,365 $5,882 $6,886 $9,018 $5,894 
Research and development21,963 1,629 — 10,915 1,325 — 
Sales and marketing28,387 — 14,979 — 
General and administrative17,499 3,557 — 13,029 2,175 — 
Total$84,179 $16,553 $5,882 $45,809 $12,520 $5,894 








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Investor Relations Contacts:

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


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