Five9 Inc

FIVN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Five9 Earnings: Enterprise AI Adoption Is Good, but We Are Cautious on Back-End-Loaded Guidance

Dan Romanoff , Jivyaa Vaidya

Feb 20, 2026

Five9 reported fourth-quarter revenue of $300 million, up 8% year over year, driven by growing enterprise adoption of artificial intelligence. Adjusted EBITDA margin came in at 25.7%, up 270 basis points year over year, driven by operational efficiencies and strict cost discipline.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

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Five9 Inc

Five9 Earnings: Enterprise AI Adoption Is Good, but We Are Cautious on Back-End-Loaded Guidance

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