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Five9, Inc. (NASDAQ: FIVN) is a leading provider of cloud contact center software that empowers digital enterprises to engage with their customers effectively. Headquartered in Sunnyvale, California, Five9 facilitates over three billion customer interactions annually through its robust and innovative platform.
The company's core offering, the Virtual Contact Center (VCC) platform, combines essential telephony functionalities with advanced omnichannel engagement tools. This cloud-native solution supports customer service, sales, and marketing engagements, allowing businesses to deliver exceptional personalized experiences.
Key features of the Five9 platform include omnichannel routing, analytics, workforce optimization (WFO), and artificial intelligence (AI). These components work synergistically to enhance agent productivity and drive tangible business results. The platform is designed to be reliable, secure, compliant, and scalable, making it suitable for organizations of all sizes.
In recent news, Five9 announced a partnership with Playvox, the leading provider of Workforce Engagement Management (WEM) solutions. This collaboration has integrated Playvox's comprehensive Workforce Management (WFM) solution into the Five9 Intelligent Cloud Contact Center, offering seamless technology integration and real-time business insights.
The Five9 Intelligent CX Platform leverages AI and automation to transform customer interactions, providing tools for digital self-service, agent assist technology, and workflow automation. With over 2,500 organizations worldwide using its solutions, Five9 stands out as a critical partner in the digital transformation of customer engagement.
Five9's commitment to innovation and customer satisfaction is evident in its extensive partner ecosystem, which includes over 1,000 partners. The company's focus on practical AI, automation, and journey analytics underscores its mission to create fluid and impactful customer experiences.
For more information, visit www.five9.com.
Five9 (NASDAQ:FIVN) reported a 15% increase in revenue for Q3 2024, reaching $264.2 million, compared to $230.1 million in Q3 2023. The company also saw a 20% growth in subscription revenue and a record $41 million in operating cash flow.
GAAP gross margin for the quarter was 53.8%, up from 51.7% in Q3 2023, while the adjusted gross margin rose to 61.8% from 60.6%. The GAAP net loss decreased to $(4.5) million or $(0.06) per basic share, compared to $(20.4) million or $(0.28) per basic share in the same period last year. Non-GAAP net income increased to $50.5 million or $0.67 per diluted share, up from $38.0 million or $0.52 per diluted share in Q3 2023. Adjusted EBITDA was $52.4 million or 19.8% of revenue, compared to $41.3 million or 17.9% of revenue in the previous year.
Based on these results, Five9 has raised its 2024 guidance for revenue and bottom line.
Five9 (Nasdaq: FIVN) has appointed Ajay Awatramani as Chief Product Officer to lead the company's product strategy and vision. With over 25 years of product experience, Awatramani joins from Cornerstone OnDemand, where he served as CPO. Previously, he held leadership roles at Adobe, Marketo, Oracle, and Siebel Systems. Most recently, he was an Entrepreneur in Residence at Storm Ventures advising on AI investments. In his new role, Awatramani will focus on enhancing Five9's AI and CX offerings, working alongside EVP of product management Callan Schebella to develop AI solutions that aim to set new standards for customer experience.
Five9 (NASDAQ: FIVN) has been named a Leader in the 2024 Gartner Magic Quadrant for Contact Center as a Service, recognized for its Completeness of Vision and Ability to Execute. The company's Intelligent CX Platform, powered by Five9 Genius AI, provides AI-driven solutions for customer experience management. The platform serves over 2,500 customers and 1,400 partners globally, offering hyper-personalized customer experiences through cloud-native technology. Five9's AI capabilities focus on improving and elevating customer interactions using contextual data to create meaningful engagements.
Five9 (NASDAQ: FIVN) has been named a Leader in the 2024 Gartner® Magic Quadrant™ for Contact Center as a Service, recognized for its Completeness of Vision and Ability to Execute. The company's Intelligent CX Platform, powered by Five9 Genius AI, offers comprehensive solutions for AI-driven customer experiences. The platform serves over 2,500 customers and 1,400 partners globally, providing cloud-native solutions for hyper-personalized customer interactions and enhanced employee capabilities. CEO Mike Burkland emphasized the company's focus on solving CX challenges through AI-driven experiences that utilize contextual data for meaningful engagements.
Five9 (Nasdaq: FIVN), an Intelligent CX Platform provider, announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024, at 4:30 p.m. Eastern Time. The company will host a Zoom Video webinar for the earnings conference call. A replay of the webcast will be available on the company's Investor Relations website after the live event.
Five9 released a consumer survey revealing that 75% of consumers prefer human interaction for customer support over AI-powered solutions. While 84% of consumers are aware of AI in customer service, 48% don't trust AI-powered service bots, and 56% find them frustrating. The study shows generational differences, with Gen Z and Millennials being more receptive to AI solutions. 53% of consumers acknowledge improved online self-service in recent years. The survey also highlighted that 40% of consumers link positive customer experience to brand loyalty, emphasizing the need for companies to balance AI automation with human touch during peak periods like holiday shopping and healthcare appointments.
Five9 (Nasdaq: FIVN) has announced its premier annual CX conference, CX Summit Barcelona 2024, scheduled for November 12-14 at Torre Melina in Barcelona, Spain. The event will focus on 'The New CX: Transformed by AI, Powered by Five9', exploring the latest trends and strategies in AI-driven customer experience.
The conference will feature speakers from leading companies such as Alaska Airlines, BT, Deloitte, The Ivy Collection, Nasdaq, and ServiceNow. Notable speakers include First Female NFL Coach Dr. Jen Welter, PGA Tour Pro Max Homa, and The Daily Beast Chief Content Officer Joanna Coles.
Attendees can expect insights on AI's transformative power in CX, product innovations from Five9, real-world customer stories, hands-on workshops, and analysis from top industry analysts. The event aims to inspire action and collaboration in leveraging AI strategies to revolutionize customer experience.
Five9 (Nasdaq: FIVN), a leading CX platform provider, has expanded its global footprint with two new data centers in Delhi and Mumbai, India. This expansion aims to support both local and multi-national enterprises in powering customer experience strategies in the region. Additionally, Five9 has achieved Department of Telecommunications (DOT) Unified License (Virtual Network Operator) (UL VNO) certification in India, allowing it to provide Access Services, National Long Distance, and International Long Distance services.
The expansion enables Five9 customers to leverage a single platform for multiple India calling regions and use Five9 as their primary telecommunications provider or integrate with existing in-country Telco services. New regional capabilities include simplified telephony integrations, provision of phone numbers and local/long-distance services, and the ability to power agents in India through Five9 Agent Connect or Direct Connect.
Five9, provider of the Intelligent CX Platform, has been awarded Americas CCaaS Vendor Partner of the Year at Verint Engage 2024 in Orlando. This marks the fifth time Five9 has received this recognition during their seven-year partnership with Verint. The award follows the recent announcement of a new cloud integration allowing customers to seamlessly purchase and implement Verint CX automation solutions in the Verint Cloud directly from Five9.
The Verint Partner Awards honors partners across North and Latin America for their customer success achievements. Winners were selected based on expertise, proven track record, and focus on driving significant value for customers using the Verint Open Platform. The partnership between Five9 and Verint has been instrumental in delivering innovative solutions that enhance customer experiences through advanced CX automation and AI offerings.
Verint and Five9 have announced a deeper partnership through a new cloud-to-cloud platform integration focused on AI market leadership. This integration delivers tangible business outcomes to organizations with full cloud-to-cloud connectivity. The partnership aims to make it easier for customers to integrate the Five9 Intelligent CX Platform with Verint Cloud Solutions.
Key points:
- Native cloud-to-cloud integration fully supported by Five9
- Enhanced partner ecosystem for both organizations
- Seamless access to industry-leading technologies in the cloud
- Superior control and choice for customers in selecting and deploying CX automation solutions
This collaboration strengthens both companies' commitment to providing customers with best-fit technology solutions backed by professional services and support staff.
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