- Five9 ( NASDAQ: FIVN ) shares fell 7% Tuesday morning after the cloud software firm lowered its full year forecast.
- The company now expects revenue of $774.5M-$775.5M ( consensus : $775.38M), down from $780.5M-$782.5M previously, and adjusted net income per share of $1.35 to $1.37 (consensus: $1.37), compared to $1.38 to $1.40 previously.
- For Q4, it guided revenue in the range of $204M to $205M and adjusted net income per share of $0.40 to $0.42 vs. consensus estimates of $204.80M and $0.41, respectively.
- The results indicates a "broad slowdown" across Five9's ( FIVN ) top verticals, said Morgan Stanley analyst Meta Marshall, which could explain the investor rout.
- Barclays suggested that "The weakness in 4Q guidance appears to be driven by macro factors affecting customer decisions. Weakness could provide a buying opportunity for shares, with FY23 guide more de-risked than peers."
- Five9 ( FIVN ) reported better-than-expected adjusted EPS of $0.39 and revenue of $198.3M (+28.5% Y/Y) for the third quarter. Adjusted gross margin fell from 64.1% for the third quarter of 2021 to 61.4%.
For further details see:
Five9 stock slides after annual guidance cut