Cloud Stocks: After Acquisitions, Five9 Focuses On Channel And Network Partnerships

Photo Credit: janeb13 / Pixabay

According to a recent report, the global cloud-based contact center market is estimated to grow to $56.4 billion by 2028 from $11 billion in 2021 at a CAGR of over 22%. Five9 (Nasdaq: FIVN), a leading provider of cloud software for contact centers, is already witnessing strong growth and is upping its partner and product offerings to make it even bigger.

Five9’s Financials

For the fourth quarter, Five9’s revenues grew 39% to $127.9 million, ahead of the market’s forecast of $115.1 million. EPS was $0.34 per share, also ahead of the market’s forecast of $0.21 per share. For the fiscal year, revenue grew 33% to $434.9 million, and EPS increased to $0.99.

For the first quarter, Five9 expects revenues of $122-$123 million and an EPS of $0.12-$0.14. The market was looking for revenues of $122.61 million and EPS of $0.13. For the year, Five9 expects revenues of $518.5-$521.5 million and an EPS of $0.75-$0.79. The market is expecting revenues of $520.63 million and an EPS of $0.77.

Five9’s Product Enhancement

During the quarter, Five9 announced a new set of features to help customers understand the value of its acquisition of Virtual Observer in early 2020. The features have key integrations between the Five9 Workforce Optimization (WFO) and its Five9 Intelligent Cloud Contact Center platform.

The integrations provide improved agent and supervisor user experiences. They give supervisors the necessary tools to motivate and engage agents from wherever as well as receive vital reporting and analytics to ensure quality in customer experience. Agencies will be able to manage their time and workload more effectively, allowing them to balance productivity and wellbeing.

Five9’s Partnerships

Besides acquisitions, Five9 has been focusing on expanding its partnerships. Last quarter, it announced a strategic tie-up with Deloitte Digital, a part of Deloitte Consulting LLP. As part of the alliance, the two organizations will work together to accelerate growth and critical Go-To-Market strategies in key regions and verticals. Five9 has worked with Deloitte Digital in the past to have deliver transformational Cloud Contact Center as a Service (CCaaS) solutions to their clients.

1 2 3
View single page >> |

Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.