Five9, Inc.

Thank you for joining us. On today's call are Rowan Trollope, CEO, Dan Berkman, President, and Barry Zornstein, CFO.

Certain statements made during the course of this conference call that are not historical facts, including those regarding the future financial performance of the company, industry trends, company initiatives, and other future events are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are simply predictions, should not be unduly relied upon by investors, actual events or results may differ materially, and the company undertakes no obligation to update the information in such statements. These statements are subject to substantial risks and uncertainties that could adversely affect Five-Nine's future results and cause these forward-looking statements to be inaccurate, including the impact of COVID-19 pandemic. The other risks discussed under the caption risk factors and elsewhere in Five-Nine's annual and quarterly reports filed with the Securities and Exchange Commission. In addition, management will make reference to non-GAAP financial measures during this call. A discussion as to why we use non-GAAP financial measures and information regarding the reconciliation of our non-GAAP to GAAP results is currently available in our press release issued earlier this afternoon as well as in the appendix of our investor deck and available in the investor relations section on Five9's website at investors.five9.com. and now I'd like to turn the call over to Five9 CEO, Rowan Trollope.

Thank you, Lisa, and thanks everyone for joining our call this afternoon. I couldn't be happier with our second quarter results with revenue at $99.8 million accelerating to 29% year-over-year growth and 5% sequential growth. Both year-over-year growth and sequential growth are Q2 records for Five9. Enterprise subscription revenue grew 33% on an LTM basis. On the bottom line, adjusted EBITDA margin was 18.3%, one of our strongest Q2 showings. I also want to highlight that we are experiencing booking strength on all fronts for both commercial and enterprise and for both new logos and install base. With Q2 being our most challenging seasonal quarter and our teams contending with the COVID disruptions, these are truly exceptional results. I'll go into more detail shortly, but there are four factors driving our performance. First, there are two trends that have been building for some time. The shift from on-premises to cloud and the importance of digital transformation, both of which COVID-19 is potentially accelerating. Second, our increased go-to-market investments are clearly paying dividends, most notably with systems integrators and AT&T. Third, our enhanced and expanded engineering leadership and the increased investments we've armed them with is resulting in faster and more product innovation. And finally, fourth, Transcending all of this, our team is executing like clockwork. My thanks go out to all the Five9 partners and especially the entire Five9 team who just keep on delivering. We truly have an amazing team. Whatever happens with the macro environment, we'll strive to continue delivering this superb execution. Now I'll share some details on each of those four drivers, starting with recent market dynamics in the contact center space. As I mentioned earlier, we believe the migration of on-premises to the cloud is steady, if not accelerating, due to COVID-19. So customers now recognize the critical nature of business continuity plans for their contact centers. And there's an increased appreciation for the fact that cloud solutions can address these needs far better than on-premises solutions. In addition, in the current environment, customer service and customer retention have become even more critical. Contact center engagements are moving to the forefront of customer experience. COVID-19 has effectively converted jobs from brick and mortar retail sales and service people to contact center agents, making contact centers the new front door for many businesses. We've also heard from enterprise customers that they see this as an opportunity to disperse their agents geographically for risk management purposes and to access a wider talent pool. While we don't know the extent to which companies will shift back to the way things were, there are indications that COVID-19 has permanently changed the way that we work and that customers will continue to implement the work-from-home model to some degree. Five9 has consistently proven we deliver on this and we're well-positioned to take advantage of this trend. Next, let me provide an update on our go-to-market initiatives and highlight a key factor in our success, which is our clockwork-like execution. This execution has played a massive role in driving our strong Q2 results and pipeline. While we still feel the effects of the pandemic on many aspects of our lives, I'm particularly proud of our management team and our entire workforce for their relentless effort to maintain the high standards and reliability that Five9 is known for, even while being 100% remote. Our financial guidance and today's earnings press release, and which Barry will touch on shortly, is indicative of our business being fully operational and on track. I'm pleased with the progress we've made on each of our go-to-market initiatives, including our new enterprise coverage model and our strategic shift with commercial. But let me focus today on the partner front. Our partners have been very key to the results you see today, and our investments on that front are paying off big time. I'm happy to report that not only were bookings from global SIs more in Q2 all of 2019 combined, but also represented an all-time record as we continue to strengthen our partnerships with Deloitte, IBM, Slalom, EY, and Accenture. This momentum validates the number of large enterprises embarking on digital transformation and cloud migration projects. In addition, our master agents and resellers continue to execute for us with an increase of 53% year-over-year in bookings, and strong pipeline growth. Now, I'd like to share some terrific news with you. I am very, very pleased to announce a strategic partnership with CDW, one of the largest technology providers in the U.S. The CDW team is really great to work with and they've got a dedicated contact center team supporting hundreds of CDW sales reps. I couldn't be happier to be increasing our investment with CDW and I look forward to working more with the team there. Finally, I am thrilled with the progress of our AT&T partnership as our key initiatives are taking shape with sales and implementations progressing, an accelerated pipeline, training of several hundred go-to-market personnel, and the advancement of our OEM integrations and customizations. As we've stated, we look forward to this contributing nicely to our 2021 revenue and momentum. So that's go-to-market. Now let me turn to products. We've continued to make considerable progress here, which I can illustrate with a few concrete examples. First, our summer release is being rolled out right now to very positive initial feedback. This release delivers 139 new features, including over 20 features for global voice and a major up-leveling of our support for digital channels, including deep integration into an omni-channel agent console, supervisor interface, as well as CRM, workforce optimization, and reporting integrations. This allows our customers to be where their customers are and choose how they would like to engage without compromising on the rigor of running a contact center. Next, we announced four new packaged workflow automation applications powered by Wendoo, our no-code platform. These packages cover operational dashboards and social listening and also emphasized proactive communication through digital channels, building on our up-leveling there. We're especially proud of the fact that our teams made them available within 90 days after our acquisition. So these apps are showing excellent early traction. Finally, on our AI initiatives, we launched Five9 Virtual Assistant, a best-in-class IBA, interactive voice assistant, that leverages conversational AI to automate manual tasks and answer common questions in the contact center. Our virtual assistant provides a natural conversational response to customer inquiries quickly and efficiently, resolving common issues. We leveraged our Wendoo technology and strategic partnerships with Google and others to accomplish this. Additionally, we received commitments from 10 customers to implement our Agent Assist product, and about half of them are expected to go live with production traffic this month. We also have our chatbot integrations with intelligent routing and escalation to an agent now in general availability. These product launches and enhancements, our added reseller partners, and increased systems integrator alliances are helping us win more and even bigger enterprise customers. In conclusion, as the migration of premises to cloud and digital transformation accelerates, 59 is in an extremely strong position, especially given our proven execution track record, even in these extremely challenging times. Given this favorable market trend and the proven ability to execute, we believe we can maintain 30s-level enterprise subscription growth. Now I'd like to turn the call over to our president, Dan Berkland. Dan, go ahead.