Five9 Inc (NASDAQ: FIVN) shares are trading lower in Monday's after-hours session after the company reported third-quarter financial results and issued guidance below analyst estimates.
Five9 said third-quarter revenue increased 29% year-over-year to $198.3 million, which beat average analyst estimates of $195.1 million, according to Benzinga Pro. The company reported quarterly earnings of 39 cents per share, which beat average estimates of 35 cents per share.
"This growth was driven by the strength of our Enterprise business where LTM subscription revenue grew 37% year-over-year. This quarter, we achieved an adjusted EBITDA margin of 18.5%, as we continued our disciplined approach of driving balanced growth," said Mike Burkland, chairman and incoming CEO of Five9.
Five9 expects fourth-quarter revenue to be between $204 million and $205 million versus average estimates of $215.73 million. The company expects fourth-quarter earnings to be between 40 and 42 cents per share versus estimates of 51 cents per share.
Five9 sees full-year revenue in a range of $774.5 million to $775.5 million versus estimates of $782.56 million. The company anticipates full-year earnings in a range of $1.35 to $1.37 per share versus average estimates of $1.42 per share.
FIVN Price Action: Five9 is making new 52-week lows on Monday.
The stock was down 11.7% in after hours at $41.50 at time of publication.
Photo: courtesy of Five9.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.