Five9 stock up 7% after announcing second quarter financial results

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on Jul 30, 2022

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Five9 stock up 7% after announcing second quarter financial results

Reported total revenue of about $189.4 million in the second quarter.
The $189 million total revenue it reported in this quarter also crushed the $180.1 million analyst consensus.
Forecasts adjusted earnings of between $1.38 per share to about $1.40 per share.

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Five9 (NASDAQ: FIVN) stock rose by 7% after announcing its second quarter financials for the 2022 financial year. The cloud contact center software provider reported total revenue of about $189.4 million in the second quarter, representing a 32% increase from the $143.8 million it recorded in the same quarter of the previous fiscal year.

Five9 tops analyst estimates

Five9 recorded a $0.34 adjusted EPS to top the $0.18 analyst estimate. The $189 million total revenue it reported in this quarter also crushed the $180.1 million analyst consensus. The adjusted EPS in the second quarter of 2022 came to $0.31 to $0.33 per share on $192.5 million to $193.5 million total revenues.

On FY basis, the company forecasts adjusted earnings of between $1.38 per share to about $1.40 per share on $780.5 to $782.5 million revenue. Again, this topped the $1.23 per share on a $770.2 million revenue analyst estimate.

Rowan Trollope, the company’s Chief Executive, claimed that despite the uncertainties in the macro environment, the company continued to witness robust growth record booking in the second quarter for both their installed base and new logos.

Analyst comments and estimates

Matt VanVlient, an analyst at BTIG, wrote:

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While management again provided “very prudent” guidance of 28% growth in 3Q and FY22 given the macro uncertainty, this was coupled with very positive pipeline commentary and assurance of >30% enterprise growth for the next several years.

VanVlient claimed that they remain confident Five9 will continue to beat analyst expectations and continue to provide excellent fundamentals in the industry.

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Mr McGinnis, an analyst at UBS, said the company provided in-line financial results, which somewhat translates into a win in this type of market environment.

McGinnis said:

While this appeared more in-line with expectations heading into earnings season, we view these results as relatively strong since many others in software have disappointed with weaker performances/guides. This is consistent with recent checks, who were more constructive on CCaaS demand than others in the front-office/communications space.