Five9 Inc
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(12,795) | $(81,764) | $(94,650) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 52,905 | 48,515 | 44,671 |
| Reduction in the carrying amount of right-of-use assets | 15,358 | 12,642 | 10,377 |
| Amortization of deferred contract acquisition costs | 71,483 | 55,384 | 41,034 |
| Accretion of discount on marketable investments | (20,818) | (11,351) | (90) |
| Provision for credit losses | 1,150 | 989 | 1,105 |
| Stock-based compensation | 166,315 | 206,292 | 172,507 |
| Amortization of discount and issuance costs on convertible senior notes | 5,478 | 3,749 | 3,743 |
| Gain on early extinguishment of debt | (6,615) | — | — |
| Impairment charge of an equity investment | 1,250 | — | — |
| Impairment charge related to closure of operating lease facilities | 2,202 | — | — |
| Interest on finance lease obligations | 264 | 150 | — |
| Deferred taxes - excluding tax benefit from acquisition | 647 | 53 | 3,088 |
| Deferred taxes - tax benefit from acquisition | (5,482) | — | — |
| Change in fair value of contingent consideration | — | — | 260 |
| Payment of contingent consideration liability in excess of acquisition-date fair value | — | — | (5,900) |
| Other | (1,051) | 657 | 188 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (14,645) | (9,844) | (4,899) |
| Prepaid expenses and other current assets | (12,148) | (3,532) | 661 |
| Deferred contract acquisition costs | (104,957) | (91,544) | (85,197) |
| Other assets | 3,115 | (3,988) | (319) |
| Accounts payable | 1,057 | 2,932 | 845 |
| Accrued and other current liabilities | 2,839 | (9,274) | (7,878) |
| Deferred revenue | (425) | 4,958 | 13,176 |
| Other long-term liabilities (including non-current portions of operating and finance lease liabilities) | (1,959) | 3,814 | (3,857) |
| Net cash provided by operating activities | 143,168 | 128,838 | 88,865 |
| Cash flows from investing activities: | |||
| Purchases of marketable investments | (1,289,357) | (795,002) | (435,768) |
| Proceeds from sales of marketable investments | 122,138 | 1,211 | 600 |
| Proceeds from maturities of marketable investments | 1,132,332 | 655,588 | 524,568 |
| Purchases of property and equipment | (42,388) | (31,234) | (52,272) |
| Capitalization of internal-use software development costs | (22,223) | (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 Acqueon Inc. | (167,151) | — | — |
| Cash settlement to acquire Aceyus, Inc. | 99 | (80,588) | — |
| Net cash (used in) provided by investing activities | (266,550) | (259,562) | 30,963 |
| Cash flows from financing activities: | |||
| Proceeds from issuance of 2029 convertible senior notes | 731,055 | — | — |
| Payment of debt issuance costs | (2,212) | — | — |
| Payments for capped call transactions associated with the 2029 convertible senior notes | (93,438) | — | — |
| Repurchase of a portion of 2025 convertible senior notes | (304,485) | — | — |
| Repurchase of a portion of 2023 convertible senior notes | — | — | (34,067) |
| 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 | — |
| Cash received from partial termination of capped calls associated with the 2025 convertible senior notes | 539 | — | — |
| Proceeds from exercise of common stock options | 481 | 9,127 | 8,522 |
| Proceeds from sale of common stock under ESPP | 14,797 | 15,927 | 13,413 |
| 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) | — |
| Payments of finance leases | (4,012) | (989) | — |
| Net cash provided by (used in) financing activities | 342,725 | 94,579 | (30,232) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 219,343 | (36,145) | 89,596 |
| Cash, cash equivalents and restricted cash: | |||
| Beginning of year | 144,842 | 180,987 | 91,391 |
| End of year | $364,185 | $144,842 | $180,987 |
| Supplemental disclosures of cash flow data: | |||
| Cash paid for interest | $6,593 | $3,897 | $3,744 |
| Cash paid for income taxes | 3,751 | 1,589 | 1,033 |
| Non-cash investing and financing activities: | |||
| Equipment purchased and unpaid at period-end | 11,890 | 11,243 | 12,332 |
| Capitalization of leasehold improvement through non-cash lease incentive | 37 | — | 109 |
| Acquisition and related transaction costs accrued at period-end | 594 | — | — |
| Stock-based compensation included in capitalized software development costs | 8,153 | 4,085 | 1,711 |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to the Consolidated Balance Sheets - Beginning 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 |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to the Consolidated Balance Sheets - End of Period: | |||
| Cash and cash equivalents | $362,546 | $143,201 | $180,520 |
| Restricted cash in other assets | 1,639 | 1,641 | 467 |
| Total cash, cash equivalents and restricted cash | $364,185 | $144,842 | $180,987 |
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