Five9 Inc (FIVN)
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symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Nothing here is rotten at the core: $723.9 million in cash and marketable investments against $736.4 million of convertible notes, a 44.5 percent equity ratio, $226.2 million of operating cash flow in 2025 and more than 3,000 customers, none of them above 10 percent of revenue. What is missing for green is proof that the business model survives the company's own technology: growth has fallen from 40.2 to 10.3 percent, net revenue retention from 108 to 105 percent, and the first profit came from $58.2 million less stock-based compensation and two reduction-in-force plans rather than from more demand. The decisive operating question is written in the company's own annual report — whether selling AI replaces the licenses AI costs — and it is unanswered. This is not an existential issue; a net debt free company with $226 million of annual cash flow does not fail over it. Hence yellow: proven numbers, open future. The decision is yours.
symbol.quality_note
Five9 sells cloud contact center software. In 2025 it kept $39.4 million in net income for the first time since going public, after 13 straight years of losses. The annual report filed February 20, 2026, also explains why that need not be a new era: growth has fallen from 40.2 percent to 10.3 percent, net revenue retention from 108 to 105 percent — and the risk factors state that the AI Five9 sells will shrink its own license revenue. Not investment advice — just the question of who pays for software that replaces the seats it is billed on.
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Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at FIVN since then.
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Appears in These Scanners
This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 27.50 $ — 99% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Sells AIFive9 verkauft KI als eigenes Produkt — die Genius-AI-Suite mit agentischen KI-Assistenten ist im Geschäftsbericht 2025 als Kern der Plattform beschrieben; zugleich benennt derselbe Bericht KI als Risiko für die eigenen Lizenzerlöse.
View the full file — quotes, sources, reviewed filings
„We have become an established leader in the AI-powered CX market with more than 3,000 customers. Our Genius AI suite is a comprehensive portfolio of AI solutions that uses Generative AI to power agentic CX."
Wir sind im Markt für KI-gestützte Kundenerlebnisse mit mehr als 3.000 Kunden zu einem etablierten Anbieter geworden. Unsere Genius-AI-Suite ist ein umfassendes Portfolio von KI-Lösungen, das generative KI nutzt, um agentische Kundenerlebnisse zu ermöglichen.
„AI solutions will likely perform an increasing proportion of contact center interactions, particularly for customer self-service, slowing the growth of interactions handled by live agents."
KI-Lösungen werden voraussichtlich einen wachsenden Anteil der Kontakte im Kundenservice übernehmen, insbesondere in der Selbstbedienung, und dadurch das Wachstum der von menschlichen Mitarbeitern bearbeiteten Kontakte bremsen.
Filings Reviewed: 10-K 2026-02-20 · 10-Q 2026-04-30 · 8-K 2026-05-05 · 8-K 2026-06-22 · 8-K 2026-02-20 · 8-K 2025-11-12
Rated on July 26, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 0.2% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 24
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 3.25 | 3.14 – 3.30 | 1,261 | 9.8% | 21 |
| 12/31/2027 | 3.77 | 3.29 – 4.28 | 1,388 | 15.9% | 21 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.21 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.13 | – | 279 | 16.60 | 4.20 | 50 | 33 |
| 2025: Q1 | 0.01 | – | 280 | 13.20 | 0.20 | 48 | 35 |
| 2025: Q2 | 0.01 | – | 283 | 12.40 | 0.40 | 35 | 22 |
| 2025: Q3 | 0.21 | – | 286 | 8.20 | 6.30 | 59 | 49 |
| 2025: Q4 | 0.23 | 73.40 | 300 | 7.80 | 6.60 | 84 | 67 |
| 2026: Q1 | 0.21 | 3,206.80 | 305 | 9.20 | 6.00 | 64 | 59 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 162 | -7 | -12 | -0.23 | 7 | 30 | 105 |
| 2017 | 200 | -6 | -9 | -0.16 | 11 | 47 | 128 |
| 2018 | 258 | 7 | 0 | 0.00 | 39 | 143 | 395 |
| 2019 | 328 | 3 | -5 | -0.08 | 51 | 196 | 482 |
| 2020 | 435 | -12 | -42 | -0.66 | 67 | 279 | 1,064 |
| 2021 | 610 | -56 | -53 | -0.79 | 29 | 211 | 1,193 |
| 2022 | 779 | -88 | -95 | -1.35 | 89 | 310 | 1,244 |
| 2023 | 910 | -99 | -82 | -1.13 | 129 | 538 | 1,495 |
| 2024 | 1,042 | -51 | -13 | -0.17 | 143 | 622 | 2,051 |
| 2025 | 1,149 | 33 | 39 | 0.45 | 226 | 786 | 1,790 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
After 13 years of losses from 2012 through 2024, 2025 finally showed a profit: $39.4 million, against minus $12.8 million the year before. Operating income swung from minus $51.3 million to plus $28.9 million. The first quarter of 2026 confirmed the trend with $18.4 million in net income after $0.6 million in the prior-year quarter.
Operating cash flow rose to $226.2 million in 2025 after $143.2 million (2024) and $128.8 million (2023); the first quarter of 2026 brought $63.9 million after $48.4 million. As of March 31, 2026, $723.9 million in cash and marketable investments stood against a single financial liability of $736.4 million — roughly $12.5 million of net debt.
Revenue growth has fallen for four straight years: 40.2 percent (2021), 27.8 (2022), 16.9 (2023), 14.4 (2024), 10.3 percent (2025) and 9.2 percent in the first quarter of 2026. Net revenue retention on existing customers slipped from 108 to 105 percent; the filing cites, among other things, the loss of a single large customer ramp from 2024.
The 2025 profit came from the cost side, not from more revenue. Stock-based compensation fell from $206.3 million (2023) through $166.3 million (2024) to $148.1 million, and two reduction-in-force plans cut roughly 6 percent of staff in 2024 and roughly 4 percent in 2025. That is disciplined work — but each of those levers can only be pulled once.
The 2025 annual report states in its risk factors that AI will handle a growing share of contact center interactions, slow the growth of interactions handled by live agents and reduce license revenue from the installed base — and that it is open whether selling its own AI solutions offsets that. For a model billed per seat, this is not a footnote.
Since October 2025 the board has authorized $350.0 million of buybacks — close to a quarter of a company worth roughly $1.5 billion (data as of July 24, 2026). The March 2026 purchases were made at an average of $17.28. Against that stand $148.1 million of annual stock-based compensation and $747.5 million coming due in 2029.
Five9 is not a broken company — 2025 delivered the first profit after 13 years of losses, operating cash flow reached $226.2 million, and the balance sheet is net debt free. Against that stands growth that has quartered in four years, retention that has slipped from 108 to 105 percent, and a profit built on costs removed rather than revenue added. Above it all sits the sentence from the company's own annual report: the AI Five9 sells shrinks the license revenue Five9 lives on. Buying here is not a bet on the cost brake but on selling more AI than AI takes away in seats. Not investment advice.
- Five9 reached our research list through our in-house stock scanner: the stock sits in the U.S. selection of the "Fundamental Rank (A / A+)" list, which ranks companies by the quality of their numbers (as of July 26, 2026; the page currently lists 38 U.S. hits, and the lists are recomputed daily). On the same date FIVN appeared in eleven lists at once, among them turnaround candidates, EPS acceleration and the free-cash-flow ranking.
- Currency of the data: this analysis evaluates the annual report 10-K for 2025 (filed February 20, 2026), the quarterly report 10-Q as of March 31, 2026 (filed April 30, 2026), and every filing submitted afterwards — in particular the 8-K reports dated May 5, 2026 (accelerated repurchase of $90.0 million), May 20, 2026 (annual meeting results: board declassification, removal of supermajority voting requirements, election of Amit Mathradas and Sagar Gupta), May 27, 2026 (amended and restated charter filed in Delaware plus matching bylaws) and June 22, 2026 (change in product engineering leadership), plus the Form S-8 dated June 8, 2026. The next quarterly report was expected on July 30, 2026; it is not part of this analysis.
- Valuation figures are dated and evergreen: the market value of roughly $1.5 billion carries a data cut-off of July 24, 2026, and rests on 76.6 million shares. Cross-check against the last price documented in a filing: 76,563,988 shares (April 27, 2026) times $17.28 (the average repurchase price in March 2026) gives about $1.32 billion — a deviation of roughly 11 percent. The initial delivery of roughly 3.1 million shares from the May 5, 2026, repurchase is not reflected. Analyses are evergreen; daily prices are not a buy argument.
About the Company
Five9, Inc. bietet zusammen mit seinen Tochtergesellschaften intelligente Cloud-Software für Contact Center in den USA und international an.
| Employees | 2,910 |
|---|---|
| Headquarters | San Ramon, CA |
| Address | 3001 Bishop Drive, 94583 San Ramon, United States |
| Phone | 925 201 2000 |
| Website | five9.com |
| IPO Date | 4. Apr 2014 |
| ISIN | US3383071012 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Andy Dignan | President | 1978 |
| Bryan Lee | CFO & Treasurer | 1979 |
| Tiffany N. Meriweather | Chief Administrative and Legal Officer & Secretary | 1984 |
| Leena Mansharamani | Chief Accounting Officer & Corporate Controller | 1968 |
| Niranjan Vijayaragavan | Chief Technology Officer | – |
| Jay H. Lee | Chief Marketing & Growth Officer | – |
| Rob Hornish | Chief Sales Officer | – |
| Ajay Awatramani | Chief Product Officer | – |
| Sven Linsmaier | Executive Vice President of Transformation & Strategy | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 13. Jul 2026 | Hornish Robert | Chief Sales Officer | Other | 121,444 | 0.00 | – |
| 13. Jul 2026 | Vijayaragavan Niranjan | Chief Technology Officer | Other | 207,734 | 0.00 | – |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.