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Segment and Geographical Information
 6 Months Ended
Jun. 30, 2025
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 income (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):
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
United States$251,390 $224,532 $498,446 $443,792 
International31,879 27,554 64,528 55,304 
Total revenue$283,269 $252,086 $562,974 $499,096 
Long-Lived Assets, Net by Geographic Areas
The following table summarizes total property and equipment, net in the respective locations (in thousands):
June 30, 2025December 31, 2024
United States$142,702 $136,382 
International11,797 8,506 
Property and equipment, net$154,499 $144,888 
Total purchases of property and equipment for the six months ended June 30, 2025 and 2024 are disclosed in the Company’s Consolidated Statements of Cash Flows.
Segment Information - Consolidated Statement of Operations
Three Months Ended, Six Months Ended,
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Revenue$283,269 $252,086 $562,974 $499,096 
Adjusted cost of revenue(1)
(104,724)(99,677)(209,814)(196,481)
Adjusted research and development(2)
(27,419)(29,633)(58,491)(59,000)
Adjusted sales and marketing(3)
(63,967)(64,482)(135,212)(131,544)
Adjusted general and administrative(4)
(19,209)(16,513)(38,804)(32,704)
Other segment items(5)
(54,862)(48,208)(98,503)(94,306)
Depreciation and amortization(14,649)(12,938)(29,139)(25,121)
Interest expense(3,820)(3,906)(7,935)(6,473)
Gain on early extinguishment of debt— — — 6,615 
Interest income and other7,917 13,800 18,220 24,359 
Provision for income taxes(1,382)(3,345)(1,566)(4,334)
Net income (loss)$1,154 $(12,816)$1,730 $(19,893)
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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, acquisition and related transaction costs and one-time integration costs, lease amortization for finance leases, and costs related to a reduction in force plan.
(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, lease amortization for finance leases, 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, 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, one-time expenses related to strategic consulting services for operational review, other
cost-reduction and productivity initiatives, legal fees related to the securities class action, costs related to a reduction in force plan, and office closure lease termination costs.
(5) Other segment items included in segment net income (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, one-time expenses related to strategic consulting services for operational review, other cost-reduction and productivity initiatives, legal fees related to the securities class action, costs related to a reduction in force plan, and office closure lease termination costs.