Five9 Reports Q3 Revenue Beat and Outlines AI Growth Strategy via Level AI Acquisition
Five9 (FIVN) reported third-quarter results that exceeded the high end of its previous guidance, posting total revenue of $323 million. A key driver in the performance was the acceleration of subscription revenue, which grew 16% year-on-year, alongside an 8% increase in Contact Center as a Service (CCaaS) revenue. Looking ahead, management is pivoting heavily toward artificial intelligence, announcing plans for a $325 million acquisition of Level AI. The company anticipates significant momentum from its AI offerings, forecasting at least 75% growth in AI-related revenue by 2026 as it integrates advanced automation into its cloud platform.