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): November 3, 2015
FIVE9, INC.
(Exact name of Registrant as specified in its charter)
Delaware | 001-36383 | 94-3394123 |
(State or other jurisdiction of incorporation) | (Commission File No.) | (I.R.S. Employer Identification No.) |
Bishop Ranch 8 | ||
4000 Executive Parkway, Suite 400 | ||
San Ramon, California 94583 | ||
(Address of principal executive offices and 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:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 Results of Operations and Financial Condition.
On November 3, 2015, Five9, Inc. (the “Company”) announced its financial results for the fiscal quarter ended September 30, 2015. 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 | |
99.1 | Press Release issued by the Company on November 3, 2015 | |
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: November 3, 2015 | By: | /s/ Barry Zwarenstein | ||||||
Barry Zwarenstein | ||||||||
Chief Financial Officer | ||||||||
INDEX TO EXHIBITS
Exhibit No. | Description | |
99.1 | Press Release issued by the Company on November 3, 2015 | |
Exhibit 99.1
Five9 Reports Third Quarter 2015 Results
Revenue Up 25% Year-Over-Year to a Record $32.3 Million
Enterprise LTM Subscription Revenue Up 35% Year-Over-Year
Adjusted EBITDA Loss Narrows to 3% of Revenue
Raises 2015 Guidance
SAN RAMON, CALIF. - November 3, 2015 - Five9, Inc. (NASDAQ:FIVN), a leading provider of cloud software for the enterprise contact center market, today reported results for the third quarter ended September 30, 2015.
Third Quarter Highlights
• | Revenue increased 25% year-over-year to $32.3 million |
• | Enterprise LTM subscription revenue increased 35% year-over-year |
• | GAAP and Adjusted gross margins improved by over 600 basis points year-over-year |
• | Adjusted EBITDA margin improved by nearly 1,600 basis points year-over-year |
“We delivered outstanding third quarter results that once again exceeded our expectations across all metrics. This is the fifth consecutive quarter of broad based outperformance and highlights the strong progression of our business. Our record revenue and bookings were primarily driven by continued success in our high growth Enterprise business. Our strong momentum in the enterprise market is being driven by key differentiators including our comprehensive end-to-end solution, our trusted platform which is delivering 99.993% uptime, our deep CRM integrations and ecosystem partnerships and best in class implementation and support execution. As validation of our leading position in the enterprise market, Five9 was recently named a leader in the Gartner Magic Quadrant for Contact Center as a Service, North America, and positioned highest for ability to execute. We believe this is a core attribute that Enterprise accounts are looking for. In conjunction with our topline growth of 25%, we significantly improved our EBITDA margin by nearly 1,600 basis points from a year ago.”
- Mike Burkland, President and CEO, Five9
Third Quarter 2015 Financial Results
• | Total revenue for the third quarter of 2015 increased 25% to $32.3 million compared to $25.9 million for the third quarter of 2014. |
• | Annual dollar-based retention rate for the period ended September 30, 2015 was 95%. |
• | GAAP gross margin was 54.1% in the third quarter of 2015 compared to 47.8% for the same period in 2014. |
• | Adjusted gross margin was 59.4% for the third quarter of 2015 compared to 53.3% for the same period in 2014. |
• | Adjusted EBITDA for the third quarter of 2015 was a loss of $(1.1) million, or 3.4% of revenue, compared to a loss of $(5.0) million, or 19.2% of revenue, for the third quarter of 2014. |
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• | GAAP net loss for the third quarter of 2015 was $(6.0) million, or $(0.12) per share, compared to a GAAP net loss of $(11.4) million, or $(0.24) per share, for the third quarter of 2014. |
• | Non-GAAP net loss for the third quarter of 2015 was $(3.9) million, or $(0.08) per share, compared to a non-GAAP net loss of $(7.3) million, or $(0.15) per share, for the third quarter of 2014. |
A reconciliation of the non-GAAP financial measures to their related GAAP financial measures is set forth in the tables attached to this release.
Business Outlook
• | For the fourth quarter of 2015, Five9 expects to report: |
• | Revenue in the range of $32.5 to $33.5 million |
• | GAAP net loss in the range of $(6.0) to $(7.0) million, or a loss of $(0.12) to $(0.14) per share |
• | Non-GAAP net loss in the range of $(3.8) to $(4.8) million, or a loss of $(0.07) to $(0.09) per share |
• | For the full year 2015, Five9 expects to report: |
• | Revenue in the range of $125.3 to $126.3 million, up from the guidance range of $122.5 to $124.5 million that was previously provided on August 3, 2015 |
• | GAAP net loss in the range of $(28.3) to $(29.3) million, or a loss of $(0.56) to $(0.58) per share, improved from a guidance range of $(31.1) to $(33.1) million, or a loss of $(0.62) to $(0.66) per share, that was previously provided on August 3, 2015 |
• | Non-GAAP net loss in the range of $(18.7) to $(19.7) million, or $(0.37) to $(0.39) per share, improved from the guidance range of $(21.5) to $(23.5) million or $(0.43) to $(0.47) per share, that was previously provided on August 3, 2015 |
Conference Call Details
Five9 will discuss its third quarter 2015 results today, November 3, 2015, via teleconference at 4:30 p.m. Eastern Time. To access the call (ID 695528), please dial: 877-780-3379 or 719-457-2644. An audio replay of the call will be available through November 17, 2015 by dialing 888-203-1112 or 719-457-0820 and entering access code 695528. 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. 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 unusual events, as well as factors that do not directly affect what we consider to be our core operating performance. 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 for supplemental informational purposes only for understanding the company's operating results. The non-GAAP financial measures should not be considered a substitute for financial information
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presented in accordance with GAAP. Please see the reconciliation of non-GAAP financial measures to the most directly comparable GAAP measure 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, and the fourth quarter 2015 and full year 2015 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) we may be unable to attract new clients or sell additional services and functionality to our existing clients or could experience a reduction in seats or revenues from existing clients; (iii) our recent rapid growth may not be indicative of our future growth and we may fail to manage our growth effectively; (iv) the markets in which we participate are highly competitive and we may be unable to compete effectively; (v) we may be unable to manage our technical operations infrastructure, which could cause our existing clients to experience service outages, cause our new clients to experience delays in the deployment of our solution and subject us to, among other things, claims for credits or damages; (vi) a decline in our dollar-based retention rate could cause our revenues and gross margins to decrease and our net loss to increase and we may be required to spend more money to grow our client base to maintain our revenues; (vii) sales of our solutions to larger organizations may require longer sales and implementation cycles and we may be unable to offer the configuration and integration services or customized features and functions required by larger organizations, which could delay or prevent sales of our solution to them; (viii) downturns or upturns in new sales will not be immediately reflected in our operating results and may be difficult to discern; (ix) third-party telecommunications and internet service providers on which we rely may fail to provide our clients and their customers with reliable telecommunication services and connectivity to our cloud contact center software; (x) we may be unable to achieve or sustain profitability; (xi) we may be unable to secure additional financing on favorable terms, or at all, to meet our future capital needs; and (xii) 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 software for the contact center market, bringing the power of the cloud to thousands of customers and facilitating more than three billion customer interactions annually. Since 2001, Five9 has led the cloud revolution in contact centers, helping organizations transition from legacy premise-based solutions to the cloud. Five9 provides businesses with reliable, secure, compliant, and scalable cloud contact center software designed to create exceptional customer experiences, increase agent productivity and deliver tangible business results. For more information visit www.five9.com.
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CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
September 30, 2015 | December 31, 2014 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 59,501 | $ | 58,289 | ||||
Short-term investments | — | 20,000 | ||||||
Accounts receivable, net | 9,309 | 8,335 | ||||||
Prepaid expenses and other current assets | 2,917 | 1,960 | ||||||
Total current assets | 71,727 | 88,584 | ||||||
Property and equipment, net | 12,376 | 12,571 | ||||||
Intangible assets, net | 2,169 | 2,553 | ||||||
Goodwill | 11,798 | 11,798 | ||||||
Other assets | 800 | 1,428 | ||||||
Total assets | $ | 98,870 | $ | 116,934 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 2,865 | $ | 4,179 | ||||
Accrued and other current liabilities | 8,053 | 7,318 | ||||||
Accrued federal fees | 5,595 | 7,215 | ||||||
Sales tax liability | 1,036 | 297 | ||||||
Notes payable | 6,045 | 3,146 | ||||||
Capital leases | 4,313 | 4,849 | ||||||
Deferred revenue | 5,562 | 5,346 | ||||||
Total current liabilities | 33,469 | 32,350 | ||||||
Revolving line of credit | 12,500 | 12,500 | ||||||
Sales tax liability — less current portion | 1,949 | 2,582 | ||||||
Notes payable — less current portion | 19,232 | 22,778 | ||||||
Capital leases — less current portion | 4,538 | 4,423 | ||||||
Other long-term liabilities | 640 | 548 | ||||||
Total liabilities | 72,328 | 75,181 | ||||||
Stockholders’ equity: | ||||||||
Common stock | 51 | 49 | ||||||
Additional paid-in capital | 177,393 | 170,286 | ||||||
Accumulated deficit | (150,902 | ) | (128,582 | ) | ||||
Total stockholders’ equity | 26,542 | 41,753 | ||||||
Total liabilities and stockholders’ equity | $ | 98,870 | $ | 116,934 | ||||
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, 2015 | September 30, 2014 | September 30, 2015 | September 30, 2014 | |||||||||||||
Revenue | $ | 32,287 | $ | 25,869 | $ | 92,835 | $ | 74,828 | ||||||||
Cost of revenue | 14,812 | 13,504 | 43,860 | 40,121 | ||||||||||||
Gross profit | 17,475 | 12,365 | 48,975 | 34,707 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 5,473 | 5,503 | 17,079 | 16,282 | ||||||||||||
Sales and marketing | 10,797 | 9,296 | 31,322 | 27,992 | ||||||||||||
General and administrative | 6,087 | 7,967 | 19,389 | 17,653 | ||||||||||||
Total operating expenses | 22,357 | 22,766 | 67,790 | 61,927 | ||||||||||||
Loss from operations | (4,882 | ) | (10,401 | ) | (18,815 | ) | (27,220 | ) | ||||||||
Other income (expense), net: | ||||||||||||||||
Interest expense | (1,235 | ) | (1,116 | ) | (3,529 | ) | (2,986 | ) | ||||||||
Interest income and other | 119 | 95 | 72 | 99 | ||||||||||||
Change in fair value of convertible preferred and common stock warrant liabilities | — | — | — | 1,745 | ||||||||||||
Total other income (expense), net | (1,116 | ) | (1,021 | ) | (3,457 | ) | (1,142 | ) | ||||||||
Loss before provision for income taxes | (5,998 | ) | (11,422 | ) | (22,272 | ) | (28,362 | ) | ||||||||
Provision for income taxes | 50 | 13 | 48 | 52 | ||||||||||||
Net loss | $ | (6,048 | ) | $ | (11,435 | ) | $ | (22,320 | ) | $ | (28,414 | ) | ||||
Net loss per share: | ||||||||||||||||
Basic and diluted | $ | (0.12 | ) | $ | (0.24 | ) | $ | (0.45 | ) | $ | (0.84 | ) | ||||
Shares used in computing net loss per share: | ||||||||||||||||
Basic and diluted | 50,369 | 48,310 | 49,931 | 33,762 | ||||||||||||
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
Nine Months Ended | ||||||||
September 30, 2015 | September 30, 2014 | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (22,320 | ) | $ | (28,414 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | 5,525 | 4,858 | ||||||
Provision for doubtful accounts | 157 | 43 | ||||||
Stock-based compensation | 6,010 | 4,796 | ||||||
Loss on the disposal of property and equipment | 10 | 1 | ||||||
Non-cash interest expense | 260 | 210 | ||||||
Changes in fair value of convertible preferred and common stock warrant liabilities | — | (1,745 | ) | |||||
Others | 40 | (5 | ) | |||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | (1,149 | ) | (744 | ) | ||||
Prepaid expenses and other current assets | (957 | ) | (981 | ) | ||||
Other assets | (178 | ) | (39 | ) | ||||
Accounts payable | (1,329 | ) | (1,018 | ) | ||||
Accrued and other current liabilities | 788 | 2,558 | ||||||
Accrued federal fees and sales tax liability | 161 | (787 | ) | |||||
Deferred revenue | 192 | 666 | ||||||
Other liabilities | (83 | ) | (158 | ) | ||||
Net cash used in operating activities | (12,873 | ) | (20,759 | ) | ||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (689 | ) | (478 | ) | ||||
Decrease (increase) in restricted cash | 806 | (25 | ) | |||||
Purchase of short-term investments | (20,000 | ) | (29,993 | ) | ||||
Proceeds from maturity of short-term investments | 40,000 | — | ||||||
Net cash provided by (used in) investing activities | 20,117 | (30,496 | ) | |||||
Cash flows from financing activities: | ||||||||
Net proceeds from initial public offering, net of payments for offering costs | — | 71,459 | ||||||
Proceeds from exercise of common stock options and warrants | 419 | 767 | ||||||
Proceeds from sale of common stock under ESPP | 680 | — | ||||||
Proceeds from notes payable | — | 19,561 | ||||||
Repayments of notes payable | (2,622 | ) | (783 | ) | ||||
Payments of capital leases | (4,509 | ) | (4,008 | ) | ||||
Net cash provided by (used in) financing activities | (6,032 | ) | 86,996 | |||||
Net increase in cash and cash equivalents | 1,212 | 35,741 | ||||||
Cash and cash equivalents: | ||||||||
Beginning of period | 58,289 | 17,748 | ||||||
End of period | $ | 59,501 | $ | 53,489 | ||||
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Reconciliation of GAAP Gross Profit to Adjusted Gross Profit
(Unaudited, in thousands, except percentages)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, 2015 | September 30, 2014 | September 30, 2015 | September 30, 2014 | |||||||||||||
GAAP gross profit | $ | 17,475 | $ | 12,365 | $ | 48,975 | $ | 34,707 | ||||||||
GAAP gross margin | 54.1 | % | 47.8 | % | 52.8 | % | 46.4 | % | ||||||||
Non-GAAP adjustments: | ||||||||||||||||
Depreciation | 1,382 | 1,184 | 4,203 | 3,583 | ||||||||||||
Intangibles amortization | 88 | 88 | 264 | 264 | ||||||||||||
Stock-based compensation | 233 | 158 | 639 | 366 | ||||||||||||
Adjusted gross profit | $ | 19,178 | $ | 13,795 | $ | 54,081 | $ | 38,920 | ||||||||
Adjusted gross margin | 59.4 | % | 53.3 | % | 58.3 | % | 52.0 | % | ||||||||
Reconciliation of GAAP Net Loss to Adjusted EBITDA
(Unaudited, in thousands)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, 2015 | September 30, 2014 | September 30, 2015 | September 30, 2014 | |||||||||||||
GAAP net loss | $ | (6,048 | ) | $ | (11,435 | ) | $ | (22,320 | ) | $ | (28,414 | ) | ||||
Non-GAAP adjustments: | ||||||||||||||||
Depreciation and amortization | 1,840 | 1,567 | 5,525 | 4,858 | ||||||||||||
Stock-based compensation | 1,945 | 1,877 | 6,010 | 4,796 | ||||||||||||
Interest expense | 1,235 | 1,116 | 3,529 | 2,986 | ||||||||||||
Interest income and other | (119 | ) | (95 | ) | (72 | ) | (99 | ) | ||||||||
Provision for income taxes | 50 | 13 | 48 | 52 | ||||||||||||
Change in fair value of convertible preferred and common stock warrant liabilities | — | — | — | (1,745 | ) | |||||||||||
Reversal of contingent sales tax liability (G&A) | — | — | — | (2,766 | ) | |||||||||||
Accrued FCC charge (G&A) | — | 2,000 | — | 2,000 | ||||||||||||
Out of period adjustment for sales tax liability (G&A) | — | — | 765 | — | ||||||||||||
Adjusted EBITDA | $ | (1,097 | ) | $ | (4,957 | ) | $ | (6,515 | ) | $ | (18,332 | ) | ||||
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Reconciliation of GAAP Net Loss to Non-GAAP Net Loss
(Unaudited, in thousands, except per share data)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, 2015 | September 30, 2014 | September 30, 2015 | September 30, 2014 | |||||||||||||
GAAP net loss | $ | (6,048 | ) | $ | (11,435 | ) | $ | (22,320 | ) | $ | (28,414 | ) | ||||
Non-GAAP adjustments: | ||||||||||||||||
Stock-based compensation | 1,945 | 1,877 | 6,010 | 4,796 | ||||||||||||
Intangibles amortization | 128 | 128 | 384 | 384 | ||||||||||||
Non-cash interest expense | 89 | 81 | 260 | 210 | ||||||||||||
Change in fair value of convertible preferred and common stock warrant liabilities | — | — | — | (1,745 | ) | |||||||||||
Reversal of contingent sales tax liability (G&A) | — | — | — | (2,766 | ) | |||||||||||
Accrued FCC charge (G&A) | — | 2,000 | — | 2,000 | ||||||||||||
Out of period adjustment for sales tax liability (G&A) | — | — | 765 | — | ||||||||||||
Non-GAAP net loss | $ | (3,886 | ) | $ | (7,349 | ) | $ | (14,901 | ) | $ | (25,535 | ) | ||||
Non-GAAP net loss per share: | ||||||||||||||||
Basic and diluted | $ | (0.08 | ) | $ | (0.15 | ) | $ | (0.30 | ) | $ | (0.76 | ) | ||||
Shares used in computing non-GAAP net loss per share: | ||||||||||||||||
Basic and diluted | 50,369 | 48,310 | 49,931 | 33,762 | ||||||||||||
Summary of Stock-Based Compensation, Depreciation and Intangibles Amortization
(Unaudited, in thousands)
Three Months Ended | ||||||||||||||||||||||||
September 30, 2015 | September 30, 2014 | |||||||||||||||||||||||
Stock-Based Compensation | Depreciation | Intangibles Amortization | Stock-Based Compensation | Depreciation | Intangibles Amortization | |||||||||||||||||||
Cost of revenue | $ | 233 | $ | 1,382 | $ | 88 | $ | 158 | $ | 1,184 | $ | 88 | ||||||||||||
Research and development | 475 | 126 | — | 583 | 58 | — | ||||||||||||||||||
Sales and marketing | 448 | 23 | 29 | 361 | 21 | 29 | ||||||||||||||||||
General and administrative | 789 | 181 | 11 | 775 | 176 | 11 | ||||||||||||||||||
Total | $ | 1,945 | $ | 1,712 | $ | 128 | $ | 1,877 | $ | 1,439 | $ | 128 | ||||||||||||
Nine Months Ended | ||||||||||||||||||||||||
September 30, 2015 | September 30, 2014 | |||||||||||||||||||||||
Stock-Based Compensation | Depreciation | Intangibles Amortization | Stock-Based Compensation | Depreciation | Intangibles Amortization | |||||||||||||||||||
Cost of revenue | $ | 639 | $ | 4,203 | $ | 264 | $ | 366 | $ | 3,583 | $ | 264 | ||||||||||||
Research and development | 1,389 | 315 | — | 1,404 | 154 | — | ||||||||||||||||||
Sales and marketing | 1,430 | 67 | 85 | 1,055 | 61 | 85 | ||||||||||||||||||
General and administrative | 2,552 | 556 | 35 | 1,971 | 676 | 35 | ||||||||||||||||||
Total | $ | 6,010 | $ | 5,141 | $ | 384 | $ | 4,796 | $ | 4,474 | $ | 384 | ||||||||||||
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Reconciliation of GAAP Net Loss to Non-GAAP Net Loss – GUIDANCE
(Unaudited, in thousands, except per share data)
Three Months Ending | Year Ending | |||||||||||||||
December 31, 2015 | December 31, 2015 | |||||||||||||||
Low | High | Low | High | |||||||||||||
GAAP net loss | $ | (5,975 | ) | $ | (6,975 | ) | $ | (28,295 | ) | $ | (29,295 | ) | ||||
Non-GAAP adjustments: | ||||||||||||||||
Stock-based compensation | 1,954 | 1,954 | 7,964 | 7,964 | ||||||||||||
Intangibles amortization | 128 | 128 | 512 | 512 | ||||||||||||
Non-cash interest expense | 93 | 93 | 353 | 353 | ||||||||||||
Out of period adjustment for sales tax liability (G&A) | — | — | 765 | 765 | ||||||||||||
Non-GAAP net loss | $ | (3,800 | ) | $ | (4,800 | ) | $ | (18,701 | ) | $ | (19,701 | ) | ||||
GAAP net loss per share, basic and diluted | $ | (0.12 | ) | $ | (0.14 | ) | $ | (0.56 | ) | $ | (0.58 | ) | ||||
Non-GAAP net loss per share, basic and diluted | $ | (0.07 | ) | $ | (0.09 | ) | $ | (0.37 | ) | $ | (0.39 | ) | ||||
Shares used in computing GAAP and non-GAAP net loss per share: | ||||||||||||||||
Basic and diluted | 50,700 | 50,700 | 50,100 | 50,100 | ||||||||||||
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Investor Relations Contact:
Barry Zwarenstein
Chief Financial Officer
Five9, Inc.
925-201-2000 ext. 5959
IR@five9.com
Lisa Laukkanen
The Blueshirt Group for Five9, Inc.
415-217-4967
Lisa@blueshirtgroup.com
# # #
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