NASDAQ$FIVN

Five9 Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported record revenue with strong enterprise growth and international expansion.

Five9 reported a strong fourth quarter with revenue growing 20% year-over-year to a record $208.3 million. The growth was driven by the continued strength of the Enterprise business where LTM subscription revenue grew 32% year-over-year and investments in international expansion where 2022 international revenue grew 44%.

  • Q4 revenue increased 20% year-over-year to a record $208.3 million.
  • GAAP gross margin was 53.8% compared to 54.1% for the fourth quarter of 2021.
  • GAAP net loss was $(13.7) million, or $(0.19) per basic share, compared to GAAP net loss of $(3.6) million, or $(0.05) per basic share, for the fourth quarter of 2021.
  • GAAP operating cash flow was $32.7 million, compared to $8.6 million for the fourth quarter of 2021.

Headline financials

Total Revenue

$208M

Previous: $174M+20.0%
EPS (adj)

$0.54

Previous: $0.42+28.6%
Capital Expenditures

$6.24M

Previous: $13.7M-54.5%
Free Cash Flow

$26.5M

Previous: -$5.6M+573.0%
Net Income

-$13.7M

Previous: -$3.6M-279.1%
Operating Income

-$13.3M

Previous: -$12M-10.6%
Gross Profit

$112M

Previous: $93.8M+19.4%
Cash & Equivalents

$181M

Previous: $90.9M+98.6%
Total Assets

$1.24B

Previous: $1.19B+4.3%
Stock-Based Comp

$43.8M

Previous: $35.6M+23.1%

Revenue & EPS history

Five9 · Revenue · Quarterly

$208M

Q4 2022+20%vs Q4 2021
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Forward guidance

Five9 provides guidance based on current market conditions and expectations.

Tailwinds

  • Full year 2023 revenue is expected to be in the range of $900.0 to $903.0 million.
  • Full year 2023 GAAP net loss per share is expected to be in the range of $(1.72) to $(1.62).
  • Full year 2023 non-GAAP net income per share is expected to be in the range of $1.67 to $1.71.
  • First quarter 2023 revenue is expected to be in the range of $207.0 to $208.0 million.
  • First quarter 2023 non-GAAP net income per share is expected to be in the range of $0.23 to $0.25.

Headwinds

  • Guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements".
  • Risks and uncertainties associated with the ongoing macroeconomic deterioration.
  • Full year 2023 GAAP net loss per share assumes diluted shares outstanding of approximately 72.1 million.
  • Full year 2023 non-GAAP net income per share assumes diluted shares outstanding of approximately 73.4 million.
  • First quarter 2023 GAAP net loss per share is expected to be in the range of $(0.63) to $(0.58).

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+3.9%

Avg return

Earnings day

+3.8%

Avg return

5 days after

+5.1%

Avg return

30 days after

58%

28 / 48 earnings

Positive

+29.4%

Q2 2018

Best reaction

-24.4%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+29.2%+27.3%+41.6%
Q4 2025+12.6%+3.9%-9.6%
Q3 2025-7.9%-2.6%-4.1%
Q1 2025-1.3%+0.4%+5.7%
Q4 2024+1.0%-9.0%-27.7%
Q3 2024+17.0%+24.7%+34.9%
Q2 2024-24.4%-22.9%-30.7%
Q1 2024-0.6%-3.1%-19.7%
Q4 2023-13.6%-11.0%-14.6%
Q3 2023+13.7%+16.6%+42.9%
Q2 2023-13.2%-12.4%-10.0%
Q1 2023-1.8%-3.1%+24.2%
Q4 2022-6.4%-13.5%-20.2%
Q3 2022+8.9%+27.8%+29.9%
Q2 2022+13.4%+17.8%+5.2%
Q1 2022+9.1%+13.4%+1.1%
Q4 2021-6.3%-3.8%-7.0%
Q3 2021+12.4%+8.6%-4.0%
Q2 2021-0.7%+1.5%-7.9%
Q1 2021+4.7%-4.0%-1.3%
Q4 2020-6.5%-2.7%-16.8%
Q3 2020+5.8%+4.0%+5.4%
Q2 2020+7.0%+2.0%+5.2%
Q1 2020+4.6%+13.8%+9.8%
Q4 2019-2.4%-6.0%-18.7%
Q3 2019+8.8%+9.4%+20.4%
Q2 2019+16.6%+12.4%+28.0%
Q1 2019-7.3%-3.9%-3.2%
Q4 2018-5.1%-2.3%+4.1%
Q3 2018+15.5%+12.2%+9.1%
Q2 2018+29.4%+26.5%+40.4%
Q1 2018+10.5%+7.6%+18.8%
Q4 2017+13.3%+11.4%+13.1%
Q3 2017+1.1%-0.7%-8.1%
Q2 2017-1.3%-2.0%-1.2%
Q1 2017+10.2%+8.1%+28.1%
Q4 2016-1.3%-1.9%+7.3%
Q3 2016-2.9%-4.3%+4.8%
Q2 2016+1.2%+7.5%+25.5%
Q1 2016+3.5%
Q4 2015+3.7%
Q3 2015+25.3%
Q2 2015+4.7%
Q1 2015-0.7%
Q4 2014+0.3%
Q3 2014+19.5%
Q2 2014-9.0%
Q1 2014-1.0%
Q2 2013
Q4 2012
Q3 2012

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