The following is a summary of the Five9, Inc. (FIVN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Five9 reported a Q1 2024 total revenue of $247 million, growing 13% year-over-year.

• Subscription revenue increased by 20%, fuelled by new logo deployments.

• LTM operating cash flow reached a strong $128 million or 14% of revenue.

• The Adjusted EBITDA margin for Q1 was at 15%.

• Increased revenue was observed from AI applications priced on consumption basis and increased automation of interactions.

Business Progress:

• Five9 focuses on improving customer experience with its AI-infused CX platform.

• The company introduced the GenAI Studio, enabling heightened personalization with AI-models.

• They reported a major subscription ARR deal with a large US bank and a record pipeline.

• International expansion continues with EMEA subscription revenue growing by 32%.

• The company maintains dedicated teams for each client with separate individuals for customer management and sales.

• They foresee moderate financial gains from a Fortune 50 company in the financial services sector.

• Investment in FedRAMP and AI enhancements remains a priority.

• They aim to increase gross margins through upselling and cross-selling of higher margin AI and automation solutions.

• The company seeks to increase sales of its software to existing clients while maintaining a focus on healthcare and AI enhancements.

More details: Five9 IR

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