Five9 Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
FIVN$27.75-3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(81,764) | $(94,650) | $(53,000) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 48,515 | 44,671 | 38,732 |
| Amortization of operating lease right-of-use assets | 12,642 | 10,377 | 8,698 |
| Amortization of deferred contract acquisition costs | 55,384 | 41,034 | 26,050 |
| (Accretion of discount) amortization of premium on marketable investments | (11,351) | (90) | 6,385 |
| Provision for credit losses | 989 | 1,105 | 808 |
| Stock-based compensation | 206,292 | 172,507 | 108,805 |
| Amortization of discount and issuance costs on convertible senior notes | 3,749 | 3,743 | 3,957 |
| Deferred taxes | 53 | 3,088 | (6,907) |
| Change in fair value of contingent consideration | — | 260 | 5,640 |
| Payment of contingent consideration liability in excess of acquisition-date fair value | — | (5,900) | — |
| Other | 807 | 188 | 396 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (9,844) | (4,899) | (35,986) |
| Prepaid expenses and other current assets | (3,532) | 661 | (14,193) |
| Deferred contract acquisition costs | (91,544) | (85,197) | (71,380) |
| Other assets | (3,988) | (319) | (1,216) |
| Accounts payable | 2,932 | 845 | 4,305 |
| Accrued and other current liabilities | (9,274) | (7,878) | 20,045 |
| Deferred revenue | 4,958 | 13,176 | 10,462 |
| Other long-term liabilities (including non-current portions of operating and finance lease liabilities) | 3,814 | (3,857) | (22,603) |
| Net cash provided by operating activities | 128,838 | 88,865 | 28,998 |
| Cash flows from investing activities: | |||
| Purchases of marketable investments | (795,002) | (435,768) | (680,490) |
| Proceeds from sales of marketable investments | 1,211 | 600 | 44,288 |
| Proceeds from maturities of marketable investments | 655,588 | 524,568 | 527,940 |
| Purchases of property and equipment | (31,234) | (52,272) | (42,216) |
| Capitalization of internal-use software development costs | (9,537) | (3,899) | — |
| Payments of initial direct costs | — | (266) | — |
| Cash paid for an equity investment in a privately-held company | — | (2,000) | — |
| Cash paid to acquire Aceyus, Inc. | (80,588) | — | — |
| Net cash (used in) provided by investing activities | (259,562) | 30,963 | (150,478) |
| Cash flows from financing activities: | |||
| Repurchase of a portion of 2023 convertible senior notes, net of costs | — | (34,067) | (24,688) |
| Repayment of outstanding 2023 convertible senior notes at maturity | (169) | — | — |
| Cash received from the settlement at maturity of the outstanding capped calls associated with the 2023 convertible senior notes | 74,453 | — | — |
| Proceeds from exercise of common stock options | 9,127 | 8,522 | 7,402 |
| Proceeds from sale of common stock under ESPP | 15,927 | 13,413 | 15,397 |
| Payment of employee taxes related to vested RSUs | (3,270) | — | — |
| Payment of contingent consideration liability up to acquisition-date fair value | — | (18,100) | — |
| Payment of holdbacks related to acquisitions | (500) | — | (5,000) |
| Payments of finance leases | (989) | — | (612) |
| Net cash provided by (used in) financing activities | 94,579 | (30,232) | (7,501) |
| Net (decrease) increase in cash and cash equivalents | (36,145) | 89,596 | (128,981) |
| Cash and cash equivalents: | |||
| Beginning of year | 180,987 | 91,391 | 220,372 |
| End of year | $144,842 | $180,987 | $91,391 |
| Supplemental disclosures of cash flow data: | |||
| Cash paid for interest | $3,897 | $3,744 | $4,073 |
| Cash paid for income taxes | 1,589 | 1,033 | 31 |
| Non-cash investing and financing activities: | |||
| Equipment purchased and unpaid at period-end | 11,243 | 12,332 | 13,871 |
| Capitalization of leasehold improvement through non-cash lease incentive | — | 109 | 5,121 |
| Stock-based compensation included in capitalized software development costs | 4,085 | 1,711 | — |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to the Consolidated Balance Sheets - Beginning of Period: | |||
| Cash and cash equivalents | $180,520 | $90,878 | $220,372 |
| Restricted cash in other assets | 467 | 513 | — |
| Total cash, cash equivalents and restricted cash | $180,987 | $91,391 | $220,372 |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to the Consolidated Balance Sheets - End of Period: | |||
| Cash and cash equivalents | $143,201 | $180,520 | $90,878 |
| Restricted cash in other assets | 1,641 | 467 | 513 |
| Total cash, cash equivalents and restricted cash | $144,842 | $180,987 | $91,391 |
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