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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
The Company has a single operating and reportable segment and manages its business activities on a consolidated basis. The Company’s single segment provides its solution through a SaaS business model. The Company generates subscription revenue from its Intelligent CX Platform, and also generates usage-based telephony revenue. The Company charges its customers monthly subscription fees for access to its solution, primarily based on the number of licenses. The Company’s AI solutions are sold to its customers on a consumption or capacity basis. The Company’s reliable, secure, and scalable Intelligent CX Platform, powered by Five9 Genius AI, delivers a comprehensive suite of easy-to-use applications that enable the breadth of customer service, sales, and marketing related functions. The Company’s chief operating decision maker (“CODM”) is its chief executive officer. The Company’s CODM reviews financial information presented on a consolidated basis for purposes of assessing financial performance and making operating decisions on how to allocate resources based on net income (loss) that
is also reported on its consolidated statements of operations and comprehensive loss as consolidated net income (loss). The measure of segment assets is reported on its consolidated balance sheets as total consolidated assets.
Revenue by Geographic Areas
The following table summarizes revenues by geographic region based on customer billing address (in thousands):
Year Ended December 31,
202420232022
United States$927,788 $812,708 $702,206 
International114,150 97,780 76,640 
Total revenue$1,041,938 $910,488 $778,846 
Long-Lived Assets, Net by Geographic Areas
The following table summarizes total property and equipment, net in the respective locations (in thousands):
December 31,
20242023
United States$136,382 $101,567 
International8,506 7,005 
Property and equipment, net$144,888 $108,572 
Total purchases of property and equipment for the years ended December 31, 2024, 2023 and 2022 are disclosed in the Company’s Consolidated Statements of Cash Flows.
Segment Information - Consolidated Statement of Operations
Year Ended December 31,
202420232022
Revenue$1,041,938 $910,488 $778,846 
Adjusted cost of revenue(1)
(399,197)(354,729)(301,661)
Adjusted research and development(2)
(122,053)(99,418)(83,337)
Adjusted sales and marketing(3)
(256,193)(230,419)(202,617)
Adjusted general and administrative(4)
(68,513)(59,657)(50,795)
Other segment items(5)
(194,380)(216,326)(183,347)
Depreciation and amortization(52,905)(48,515)(44,671)
Interest expense(14,812)(7,646)(7,493)
Gain on early extinguishment of debt6,615 — — 
Interest income and other46,745 26,799 4,813 
Provision for income taxes(40)(2,341)(4,388)
Net loss$(12,795)$(81,764)$(94,650)
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(1) Adjusted cost of revenue includes cost of revenue in accordance with GAAP adjusted for depreciation and amortization, stock-based compensation, exit costs related to the closure and relocation of the Company’s Russian operations, acquisition and related transaction costs and one-time integration costs, lease amortization for finance leases, costs related to a reduction in force plan, and refund for prior year overpayment of USF fees.
(2) Adjusted research and development includes research and development in accordance with GAAP adjusted for depreciation and amortization, stock-based compensation, exit costs related to the closure and relocation of the
Company’s Russian operations, acquisition and related transaction costs and one-time integration costs, and costs related to a reduction in force plan.
(3) Adjusted sales and marketing includes sales and marketing expense in accordance with GAAP adjusted for depreciation and amortization, stock-based compensation, acquisition and related transaction costs and one-time integration costs, and costs related to a reduction in force plan.
(4) Adjusted general and administrative included general and administrative expense in accordance with GAAP adjusted for depreciation and amortization, stock-based compensation, exit costs related to the closure and relocation of the Company’s Russian operations, acquisition and related transaction costs and one-time integration costs, costs related to a reduction in force plan, impairment charge related to closure of operating lease facilities, and contingent consideration expense.
(5) Other segment items included in segment net loss includes stock-based compensation, exit costs related to the closure and relocation of our Russian operations, acquisition and related transaction costs and one-time integration costs, lease amortization for finance leases, costs related to a reduction in force plan, and impairment charge related to closure of operating lease facilities.