Five9, Inc.

FIVN · Services-Computer Processing & Data Preparation · 76.6M shares · +5%/yr ↑ shares · EDGAR filings ↗

Reference price $24.25 · est. market cap ~$1.9B — last insider sale, 2026-06-05 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B70

Cloud contact-center (CCaaS) vendor near GAAP profitability with strong FCF and growth.

Strengths

Strong FCF and liquidity — FCF $201.2M (64th), current ratio 4.51 (85th)
Growth and improving earnings — net income +119.3%
Healthy gross margin — 55.1%

Risks

Thin GAAP margins — operating margin 2.5%
Reported revenue +302% is a normalization artifact — per 10-K
Competitive CCaaS market and macro/tariff sensitivity per risk factors — per 10-K

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Customer concentration~10% of revenue from one customer/distributor — For each of the years ended December 31, 2025, 2024 and 2023, no single customer accounted for more than 10% of our total revenue
Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
Strong balance sheetStrong balance sheet — $697M cash & investments
Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Insider sellingInsider selling — 25 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$3M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $283M2025-09-30 · $286M2025-12-31 · $300M2026-03-31 · $305M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

55.1%

Operating margin

2.5%

Net margin

3.4%

Return on equity

5.0%

Return on assets

2.2%

Revenue growth (QoQ)

1.7%

Current ratio

4.5×

Free cash flow

$201M

EBITDA

$91M

Tangible book value

$368M

Cash & investments

$697M

Stock comp / revenue

12.9%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-05	Dignan Andy	Sell	3.1K	$24.25
2026-06-05	Lee Bryan M	Sell	1.5K	$24.25
2026-06-04	Lee Bryan M	Sell	4.3K	$24.81
2026-06-04	Lee Bryan M	Sell	4.8K	$24.16
2026-06-04	Dignan Andy	Sell	2.4K	$24.15
2026-06-04	Dignan Andy	Sell	2.7K	$25.07
2026-06-04	Dignan Andy	Sell	545	$25.68
2026-06-04	Dignan Andy	Sell	2.6K	$24.81
2026-06-04	Lee Bryan M	Sell	1.4K	$25.69
2026-06-04	Tuckness Matthew E.	Sell	8.6K	$24.81
2026-06-04	Kozanian Panos	Sell	5.9K	$24.81
2026-06-04	Meriweather Tiffany N.	Sell	9.5K	$24.81
2026-06-04	Mansharamani Leena	Sell	2.6K	$24.81
2026-06-04	Lee Bryan M	Sell	6.1K	$25.13
2026-05-20	Iskow Julie	Grant	9.0K	—
2026-05-20	Burdiek Michael J	Grant	9.0K	—
2026-05-20	Gupta Sagar	Grant	9.0K	—
2026-05-20	Walker Maria C	Grant	9.0K	—
2026-05-20	Barsamian Sue	Grant	9.0K	—
2026-05-20	MARINER JONATHAN D	Grant	9.0K	—
2026-05-14	Meriweather Tiffany N.	Sell	21K	$20.98
2026-05-13	Meriweather Tiffany N.	Sell	8.5K	$21.22
2026-03-05	Dignan Andy	Sell	3.4K	$17.92
2026-03-05	Lee Bryan M	Sell	1.8K	$17.92
2026-03-04	Kozanian Panos	Sell	7.0K	$17.98
2026-03-04	Tuckness Matthew E.	Sell	5.2K	$17.87
2026-03-04	Lee Bryan M	Sell	9.9K	$17.70
2026-03-04	Dignan Andy	Sell	4.9K	$17.69
2026-03-04	Kozanian Panos	Sell	3.9K	$17.78
2026-03-04	Meriweather Tiffany N.	Sell	5.9K	$17.87
2026-03-04	Mansharamani Leena	Sell	1.9K	$17.87
2026-02-26	Burkland Michael	Option exercise	54K	$8.13
2026-02-24	Tuckness Matthew E.	Grant	119K	—
2026-02-24	Mansharamani Leena	Grant	24K	—
2026-02-24	Mathradas Amit	Grant	717K	—
2026-02-24	Kozanian Panos	Grant	84K	—
2026-02-24	Meriweather Tiffany N.	Grant	105K	—
2026-02-24	Lee Bryan M	Grant	115K	—
2026-02-24	Dignan Andy	Grant	87K	—
2025-12-05	Dignan Andy	Sell	700	$20.53
2025-12-04	Mansharamani Leena	Sell	1.1K	$20.58
2025-12-04	Burkland Michael	Sell	18K	$20.35
2025-12-04	Kozanian Panos	Sell	5.5K	$20.28
2025-12-04	Tuckness Matthew E.	Sell	5.3K	$20.35
2025-12-04	Lee Bryan M	Sell	13K	$20.35
2025-12-04	Dignan Andy	Sell	3.4K	$20.35
2025-12-04	Dignan Andy	Sell	4.1K	$20.22
2025-12-04	Kozanian Panos	Sell	5.3K	$20.57
2025-12-04	Meriweather Tiffany N.	Sell	6.9K	$20.35
2025-12-04	Mansharamani Leena	Sell	617	$20.35
2025-12-04	Mansharamani Leena	Sell	1.2K	$20.28
2025-11-03	Dignan Andy	Sell	700	$24.35
2025-10-01	Dignan Andy	Sell	665	$23.94
2025-10-01	Dignan Andy	Sell	35	$24.62
2025-09-26	Ramakrishna Sudhakar	Grant	16K	—
2025-09-26	Ramakrishna Sudhakar	Grant	5.3K	—
2025-09-05	Dignan Andy	Sell	700	$26.48
2025-09-04	Tuckness Matthew E.	Sell	2.0K	$25.72
2025-09-04	Lee Bryan M	Sell	1.9K	$25.72
2025-09-04	Dignan Andy	Sell	3.4K	$25.72
2025-09-04	Dignan Andy	Sell	4.2K	$25.28
2025-09-04	Kozanian Panos	Sell	4.4K	$25.50
2025-09-04	Kozanian Panos	Sell	6.4K	$26.12
2025-09-04	Mansharamani Leena	Sell	632	$25.72
2025-09-04	Mansharamani Leena	Sell	1.2K	$25.66
2025-09-04	Mansharamani Leena	Sell	1.1K	$26.14
2025-09-04	Burkland Michael	Sell	18K	$25.72
2025-09-04	Meriweather Tiffany N.	Sell	7.9K	$25.72
2025-08-14	Lee Bryan M	Grant	113K	—
2025-08-13	Kozanian Panos	Sell	5.1K	$25.98
2025-08-13	Kozanian Panos	Sell	1.9K	$25.34
2025-08-12	Burdiek Michael J	Buy	1.0K	$24.15
2025-08-11	Tuckness Matthew E.	Grant	112K	—
2025-08-11	Meriweather Tiffany N.	Grant	65K	—
2025-08-01	Dignan Andy	Sell	700	$26.16
2025-07-01	Dignan Andy	Sell	700	$26.44
2025-06-06	Mansharamani Leena	Gift	410	—
2025-06-05	Dignan Andy	Sell	700	$29.23
2025-06-04	Burkland Michael	Sell	5.5K	$28.28
2025-06-04	Mansharamani Leena	Sell	602	$28.28
2025-06-04	Mansharamani Leena	Sell	1.2K	$27.72
2025-06-04	Mansharamani Leena	Sell	1.1K	$27.72
2025-06-04	Kozanian Panos	Sell	3.8K	$28.28
2025-06-04	Dignan Andy	Sell	2.2K	$28.28
2025-06-04	Dignan Andy	Sell	2.7K	$28.10
2025-06-04	Lee Bryan M	Sell	1.8K	$28.28
2025-06-03	Burkland Michael	Sell	5.2K	$27.40
2025-06-03	Burkland Michael	Sell	7.4K	$27.01
2025-05-21	Barsamian Sue	Grant	7.8K	—
2025-05-21	MARINER JONATHAN D	Grant	7.8K	—
2025-05-21	Iskow Julie	Grant	7.8K	—
2025-05-21	Burdiek Michael J	Grant	7.8K	—
2025-05-21	Welsh David S.	Grant	7.8K	—
2025-05-21	ZOLLARS ROBERT	Grant	7.8K	—
2025-05-01	Dignan Andy	Sell	700	$25.52
2025-04-15	Lee Bryan M	Grant	74K	—
2025-04-15	Lee Bryan M	Grant	74K	—
2025-04-01	Dignan Andy	Sell	700	$27.00
2025-03-24	Dignan Andy	Grant	40K	—
2025-03-24	Five9, Inc.	Grant	40K	—
2025-03-11	Mansharamani Leena	Sell	1.1K	$30.20
2025-03-11	Dignan Andy	Sell	700	$30.20
2025-03-04	Mansharamani Leena	Sell	1.5K	$33.23
2025-03-04	ZWARENSTEIN BARRY	Sell	2.5K	$33.23
2025-03-04	Dignan Andy	Sell	2.8K	$33.23
2025-03-04	Kozanian Panos	Sell	2.9K	$32.94
2025-03-04	Kozanian Panos	Sell	4.8K	$33.67
2025-03-03	Burkland Michael	Sell	7.9K	$35.35
2025-03-03	Burkland Michael	Sell	4.7K	$36.11
2025-02-25	Mansharamani Leena	Grant	15K	—
2025-02-25	Dignan Andy	Grant	81K	—
2025-02-25	Kozanian Panos	Grant	65K	—
2025-02-25	Burkland Michael	Grant	176K	—

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-06-22	Exec/director changeExhibits	filing ↗
2026-05-27	5.03	filing ↗
2026-05-20	Shareholder voteExhibits	filing ↗
2026-05-05	OtherExhibits	filing ↗
2026-04-30	ResultsExhibits	filing ↗
2026-02-20	Material agreementExhibits	filing ↗
2026-02-19	ResultsOtherExhibits	filing ↗
2026-01-21	Exec/director changeExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-22	2026-06-15	0001288847-26-000110 ↗
8-K	2026-05-27	2026-05-26	0001288847-26-000101 ↗
8-K	2026-05-20	2026-05-20	0001288847-26-000085 ↗
8-K	2026-05-05	2026-05-04	0001288847-26-000081 ↗
10-Q	2026-04-30	2026-03-31	0001288847-26-000079 ↗
8-K	2026-04-30	2026-04-30	0001288847-26-000077 ↗
10-K	2026-02-20	2025-12-31	0001288847-26-000023 ↗
8-K	2026-02-20	2026-02-17	0001288847-26-000025 ↗
8-K	2026-02-19	2026-02-19	0001288847-26-000021 ↗
8-K	2026-01-21	2026-01-20	0001288847-26-000006 ↗
8-K	2025-12-17	2025-12-15	0001288847-25-000242 ↗
8-K	2025-11-12	2025-11-11	0001288847-25-000231 ↗