Five9 (FIVN) FY2022 results: revenue $779 million, up 27.8% on the year

Five9, Inc. (FIVN) reported revenue of $779 million for fiscal 2022, the year ended 31 December 2022, up 27.8% on the year before. Net income was -$95 million, and diluted earnings per share $-1.35. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.

Revenue

$779 million

+27.8% on the year

FY2015FY2022

Operating margin

-11.2%

-9.2% a year earlier

FY2015FY2022

Net income

-$95 million

FY2015FY2022

Diluted EPS

-$1.35

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	779	610	435	+27.8%
Cost of revenue	368	271	180	+35.6%
Gross profit	411	338	255	+21.5%
Gross margin	52.8%	55.5%	58.5%
Research and development	142	107	68.7	+32.6%
Operating income	-87.6	-56.2	-12.3
Operating margin	-11.2%	-9.2%	-2.8%
Interest expense	7.5	8.0	28.3	-6.7%
Pre-tax income	-90.3	-64.3	-44.6
Income tax	4.4	-11.3	-2.5
Net income	-94.7	-53.0	-42.1
Net margin	-12.2%	-8.7%	-9.7%
Diluted EPS	-$1.35	-$0.79	-$0.66

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	88.9	29.0	67.3	+206.5%
Capital expenditure	52.3	42.2	30.4	+23.8%
Free cash flow	36.6	-13.2	36.9
Free cash flow margin	4.7%	-2.2%	8.5%
Cash from investing	31.0	-150	-382
Cash from financing	-30.2	-7.5	457
Depreciation and amortisation	44.7	38.7	25.1	+15.3%
Share-based compensation	173	109	64.7	+58.5%
Diluted shares, weighted	70m	68m	64m	+3.6%
Shares outstanding at period end	71m	68m	66m	+3.7%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	310	211	279	+46.8%
Debt	738	769	643	-3.9%
Operating lease liabilities	41.4	47.1	5.4	-12.1%
Finance lease liabilities	0.0	0.0	0.0
Other liabilities	155	166	136	-6.8%
Total liabilities and equity	1,244	1,193	1,064	+4.3%
Fixed assets	101	n/a	51.2
Goodwill	165	165	165	0.0%
Intangible assets	28.2	39.9	51.7	-29.3%
Investments	435	526	425	-17.4%
Cash and equivalents	181	90.9	220	+98.6%
Receivables	87.5	83.7	48.7	+4.5%
Other assets	247	287	101	-13.8%
Total assets	1,244	1,193	1,064	+4.3%

10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.