Five9, Inc (FIVN) saw its loss narrow to $3.89 million, or $0.07 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $6.05 million, or $0.12 a share. On an adjusted basis, net loss for the quarter was $0.17 million, when compared with $3.89 million in the last year period. Revenue during the quarter grew 26.93 percent to $40.98 million from $32.29 million in the previous year period. Gross margin for the quarter expanded 247 basis points over the previous year period to 56.59 percent. Operating margin for the quarter stood at negative 4.68 percent as compared to a negative 15.12 percent for the previous year period.
Operating loss for the quarter was $1.92 million, compared with an operating loss of $4.88 million in the previous year period.
However, the adjusted operating profit for the quarter stood at $0.73 million compared to operating loss of $2.81 million in prior year period.
For the fourth-quarter, Five9, Inc expects revenue to be in the range of $41.30 million to $42.30 million. Five9, Inc expects revenue to be in the range of $159.20 million to $160.20 million for financial year 2016. Five9, Inc forecasts net loss to be in the range of $3.50 million to $4.50 million for the fourth-quarter. For fiscal year 2016, Five9, Inc forecasts net loss to be in the range of $15.80 million to $16.80 million. Five9, Inc projects adjusted net loss to be in the range of $0.80 million to $1.80 million for the fourth-quarter. For the fiscal year 2016, Five9, Inc projects adjusted net loss to be in the range of $4.50 million to $5.50 million. The company projects diluted loss per share to be in the range of $0.07 to $0.09 for the fourth-quarter. For financial year 2016, the company projects diluted loss per share to be in the range of $0.30 to $0.32. On an adjusted basis, the company projects diluted loss per share to be in the range of $0.02 to $0.03 for the fourth-quarter. For financial year 2016, the company projects diluted loss per share to be in the range of $0.09 to $0.11 on adjusted basis.
Operating cash flow turns positiveFive9, Inc has generated cash of $4 million from operating activities during the nine month period as against cash outgo of $12.87 million in the last year period. The company has spent $1.03 million cash to meet investing activities during the nine month period as against cash inflow of $20.12 million in the last year period
The company has spent $4.12 million cash to carry out financing activities during the nine month period as against cash outgo of $6.03 million in the last year period.
Cash and cash equivalents stood at $57.33 million as on Sep. 30, 2016, down 3.64 percent or $2.17 million from $59.50 million on Sep. 30, 2015.
Working capital decreases marginally
Five9, Inc has witnessed a decline in the working capital over the last year. It stood at $37.50 million as at Sep. 30, 2016, down 1.99 percent or $0.76 million from $38.26 million on Sep. 30, 2015. Current ratio was at 2.02 as on Sep. 30, 2016, down from 2.14 on Sep. 30, 2015.
Days sales outstanding went down to 24 days for the quarter compared with 25 days for the same period last year.
At the same time, days payable outstanding went down to 16 days for the quarter from 17 for the same period last year.
Debt comes down marginally
Five9, Inc has recorded a decline in total debt over the last one year. It stood at $44.67 million as on Sep. 30, 2016, down 4.20 percent or $1.96 million from $46.63 million on Sep. 30, 2015. Total debt was 43.50 percent of total assets as on Sep. 30, 2016, compared with 47.16 percent on Sep. 30, 2015. Debt to equity ratio was at 1.73 as on Sep. 30, 2016, down from 1.76 as on Sep. 30, 2015.
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