Five9 CEO on Inference Solutions Acquisition, Earnings and Stock Post-Pandemic

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Five9  (FIVN) - Get Report reported earnings on Thursday night and announced that it would be acquiring Inference Solutions.

CEO Rowan Trollope joined TheStreet to talk about the earnings and the acquisition.

The company reported quarterly earnings of $0.27 per share, beating analyst expectations of $0.18 a share.

Five9 reported that revenue in the third quarter increased 34% to a record of $112.1 million, which is compared to $83.8 million in 2019's third quarter.

"We delivered outstanding third-quarter results with revenue of, growing 34% year-over-year and 12% sequentially, both all-time highs for us as a public company, and Adjusted EBITDA margin was 21.5%, also a third-quarter record. Positive industry trends continue to accelerate and help drive our performance. The contact center is the new front door for many businesses. We believe the premise to cloud transition and digital transformation trends will accelerate, and demand for AI-driven automation will increase, placing at the forefront of a massive opportunity," Trollope said in the earnings release.

And what about the acquisition?

“We believe adding Inference to the Five9 portfolio accelerates our leadership position in AI while also providing customers with a market-leading IVA at a time when customers need efficient real-time assistance,” said Trollope in a press release about the acquisition. “Customer engagement is now more paramount than ever. Inference is a proven leader with a best in class IVA solution. We are excited to build upon our successful partnership with this acquisition.”

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