$FIVN

Five9, Inc.

CIK:0001288847|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 312,444	$ 283,269	$ 617,763	$ 562,974
Cost of revenue	145,700	127,865	280,492	253,838
Gross profit	166,744	155,404	337,271	309,136
Operating expenses:
Research and development	42,068	39,912	81,744	81,012
Sales and marketing	79,703	80,668	159,192	163,523
General and administrative	42,996	36,385	75,865	71,590
Total operating expenses	164,767	156,965	316,801	316,125
Income (loss) from operations	1,977	(1,561)	20,470	(6,989)
Other income (expense), net:
Interest expense	(3,507)	(3,820)	(6,649)	(7,935)
Interest income and other	5,838	7,917	11,050	18,220
Total other income (expense), net	2,331	4,097	4,401	10,285
Income before income taxes	4,308	2,536	24,871	3,296
Provision for income taxes	941	1,382	3,092	1,566
Net income	$ 3,367	$ 1,154	$ 21,779	$ 1,730
Net income per share:
Basic (in USD per share)	$ 0.04	$ 0.02	$ 0.29	$ 0.02
Diluted (in USD per share)	$ 0.04	$ 0.01	$ 0.25	$ 0.02
Shares used in computing net income per share:
Basic (in shares)	75,452,000	76,654,000	75,981,000	76,303,000
Diluted (in shares)	85,479,000	88,523,000	85,678,000	88,964,000
Comprehensive Income (Loss):
Net income	$ 3,367	$ 1,154	$ 21,779	$ 1,730
Other comprehensive loss	(421)	(389)	(446)	(528)
Comprehensive income	$ 2,946	$ 765	$ 21,333	$ 1,202

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 21,779	$ 1,730
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	37,761	29,139
Reduction in the carrying amount of right-of-use assets	10,722	10,080
Amortization of deferred contract acquisition costs	48,394	41,528
Accretion of discount on marketable investments	(2,294)	(5,325)
Provision for credit losses	600	945
Stock-based compensation	65,644	81,104
Amortization of discount and issuance costs on convertible senior notes	1,792	2,680
Impairment charges of long-lived assets	8,518	835
Interest on finance lease obligations	345	548
Deferred taxes - excluding tax benefit from acquisition	142	33
Other	1,079	(201)
Changes in operating assets and liabilities:
Accounts receivable	(11,123)	(13,608)
Prepaid expenses and other current assets	(7,941)	2,854
Deferred contract acquisition costs	(66,809)	(56,181)
Other assets	2,831	2,552
Accounts payable	7,891	3,853
Accrued and other current liabilities	(8,500)	(8,096)
Deferred revenue	(4,727)	(11,522)
Other liabilities (including non-current portions of operating and finance lease liabilities)	(106)	497
Net cash provided by operating activities	105,998	83,445
Cash flows from investing activities:
Purchases of marketable investments	(199,648)	(315,146)
Proceeds from sales of marketable investments	62,806	90,502
Proceeds from maturities of marketable investments	135,764	442,655
Purchases of property and equipment	(22,891)	(8,218)
Capitalization of internal-use software development costs	(18,473)	(18,730)
Net cash (used in) provided by investing activities	(42,442)	191,063
Cash flows from financing activities:
Repayment of outstanding 2025 convertible senior notes at maturity	0	(434,405)
Proceeds from exercise of common stock options	445	30
Proceeds from sale of common stock under ESPP	7,008	7,921
Cash paid for repurchase of the Company's common stock	(100,011)	0
Principal repayment on financing liability	(10,779)	0
Payment of finance lease liabilities	(4,924)	(4,671)
Net cash used in financing activities	(108,261)	(431,125)
Net decrease in cash, cash equivalents and restricted cash	(44,705)	(156,617)
Cash, cash equivalents and restricted cash:
Total cash, cash equivalents and restricted cash	234,131	364,185
Total cash, cash equivalents and restricted cash	189,426	207,568
Supplemental disclosures of cash flow data:
Cash paid for interest	4,856	5,428
Cash paid for income taxes	1,266	2,923
Non-cash investing and financing activities:
Maintenance services purchased through financing	48,276	0
Equipment purchased and unpaid at period-end	8,390	13,058
Stock-based compensation included in capitalized software development costs	4,568	4,928
Reconciliation of Cash, Cash Equivalents and Restricted Cash to the Condensed Consolidated Balance Sheets - Beginning of Period:
Cash and cash equivalents	232,084	362,546
Restricted cash in other assets	2,047	1,639
Total cash, cash equivalents and restricted cash	234,131	364,185
Cash and cash equivalents	187,305	205,479
Restricted cash in other assets	2,121	2,089
Total cash, cash equivalents and restricted cash	$ 189,426	$ 207,568

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 187,305	$ 232,084
Marketable investments	466,757	464,835
Accounts receivable, net	141,507	130,984
Prepaid expenses and other current assets	61,487	43,107
Deferred contract acquisition costs, net	94,262	88,714
Total current assets	951,318	959,724
Property and equipment, net	179,648	164,635
Operating lease right-of-use assets	40,889	46,375
Finance lease right-of-use assets	11,315	14,216
Intangible assets, net	44,347	51,166
Goodwill	366,253	366,253
Other assets	46,448	10,725
Deferred contract acquisition costs, net — less current portion	189,842	176,976
Total assets	1,830,060	1,790,070
Current liabilities:
Accounts payable	37,318	29,973
Accrued and other current liabilities	95,682	84,120
Operating lease liabilities	14,519	12,922
Finance lease liabilities	8,329	8,480
Deferred revenue	73,417	77,515
Total current liabilities	229,265	213,010
Convertible senior notes	737,283	735,490
Operating lease liabilities — less current portion	41,650	42,116
Finance lease liabilities — less current portion	3,255	6,090
Other long-term liabilities	33,803	7,547
Total liabilities	1,045,256	1,004,253
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	75	77
Additional paid-in capital	1,140,728	1,163,072
Accumulated other comprehensive income	451	897
Accumulated deficit	(356,450)	(378,229)
Total stockholders’ equity	784,804	785,817
Total liabilities and stockholders’ equity	$ 1,830,060	$ 1,790,070