Five9, Inc.

You have joined the meeting as an attendee and will be muted throughout the meeting. Thank you for joining us today. Certain statements made during the course of this conference call that are not historical facts, including those regarding the future financial performance and cash position of the company, expected improvements in financial and related metrics, expected ARR from certain customers, our proposed acquisition of Acquion, certain expected revenue makeshift, customer growth, anticipated customer benefits from our solution, including from AI, the extent of the anticipated TAM expansion and our ability to take advantage of any such expansion, company growth, enhancements to and development of our solution, market size and trends, our expectations regarding macroeconomic conditions, company market position, initiatives and expectations, technology and product initiatives, including investment in R&D and other future events or results, our 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 Five9's future results and cause these forward-looking statements to be inaccurate, including the impact of adverse economic conditions, including macroeconomic deterioration and uncertainty, including continuing inflation, increased interest rates, supply chain disruptions, decreased economic output and fluctuations in currency exchange rates, lower growth rates within our installed base of customers, and the other risks discussed under the caption risk factors and elsewhere in Five Nights 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 of why we use non-GAAP financial measures and information regarding reconciliation of our GAAP versus non-GAAP results and guidance is currently available in our press release issued earlier this afternoon, as well as in the appendix of our investor deck that can be found in the investor relations section on Five9's website at investors.five9.com. Also, please note that the information provided on this call speaks only to management's views as of today, November 7th, 2024, and may no longer be accurate at the time of our replay. Lastly, a reminder that, unless otherwise indicated, financial figures discussed are non-GAAP. And now I'd like to turn the call over to Five Nines Chairman and CEO, Mike Berkland.

Thanks, Emily, and thanks, everyone, for joining our call this afternoon. We are very pleased with our third quarter results, which exceeded our guidance across all key metrics. Importantly, subscription revenue growth accelerated to 20% year over year, and total revenue growth accelerated to 15%. Adjusted EBITDA margin was 20% of revenue, helping drive record quarterly operating cash flow of 41 million or 16% of revenue. I'm energized by the momentum we're seeing with our AI products. When I meet with customers, the focus of the discussion often quickly turns to leveraging the power of AI to transform their CX. And this is clearly demonstrated by AI products making up over 20% of our enterprise new logo ACV bookings in Q3. Furthermore, over the last four quarters, the average ARR of new logo deals that included AI were over five times larger than deals without AI. And AI has been attached to 100% of our 1 million plus ARR new logo deals. This AI momentum is also reflected in our install base, where AI bookings grew over 50% year over year in Q3. Our Five9 Genius AI suite of solutions is helping some of the world's largest brands transform their CX with AI. With the acceleration of AI, CX is changing right before our eyes, and we call this the new CX. This new CX is delivered by our AI-powered platform that stays aware and engaged throughout the entire customer journey, delivering value in many ways we previously could only imagine. Our next generation IVA, which we're launching next week, called Five9 AI Agents is a new paradigm for how consumers engage with brands. Interacting across both voice and digital, Five9 AI Agents identify, authenticate, derive intent, inject knowledge, apply reason, take actions completely independently and without the need for a human. Five9 AI Agents are designed to achieve unprecedented levels of comprehension, capability, and autonomy using generative AI. This allows them to deliver great customer experience while also reducing the volume of interactions that need to be routed to human agents. With these AI agents plus AI-empowered human agents, Five9 is delivering the new CX designed to result in higher customer satisfaction scores, happier employees, and improved efficiency for organizations around the world. Five9 is helping some of the largest brands in the world deliver the new CX. with our AI-powered Intelligent CX platform, our Five9 Genius AI suite, and our trusted AI experts. With these three components as the foundation, we recently rolled out our AI Blueprint program, where our AI experts work with each of our customers to develop their own unique blueprint to transform their CX using AI. For example, one of the world's largest hotel franchises increased first contact resolution by 50% after implementing our self-service AI applications for their loyalty points program. Another example is a global automobile manufacturer leveraging Five9 AI to handle the recall process. They struggled with the massive influx of traffic that comes from such an event. Rather than attempting to flex up their agent count, they used our IVA self-service to not only handle the additional traffic with ease, but also to achieve an impressive 53% first contact resolution. With Five9 Genius AI and our AI Blueprint program, our customers are able to transform their CX with the power of AI. Also, with our AI consumption-based pricing model, customers have the ability to test and prove adoption rates and effectiveness for AI use cases. In summary, I feel great about our leadership position in AI, and we remain enthusiastic about the continued large AI market opportunity ahead. Now turning to other business highlights, in August, we closed our acquisition of Acquion. This acquisition marks a significant milestone in our strategy to elevate customer experience by further strengthening our intelligent CX platform. With Acquion, we now offer best-in-class AI-powered omnichannel and journey orchestration for inbound and proactive outbound use cases across marketing, sales, e-commerce, and customer service. Our expanded capabilities across digital, SMS, email, and social channels are designed to unlock adjacencies and new revenue streams, particularly in sales and revenue recovery. This includes further expansion into the healthcare vertical with our Epic integration. We're excited about how Acquion is strengthening the value proposition of 5.9 and expanding our market opportunity. I'm also pleased to announce that AJ Awatramani has joined Five9 as our Chief Product Officer. With over 25 years of product experience and a proven track record of driving software innovation at companies such as Adobe, Marketo, and Oracle, AJ will lead Five9's product strategy as we expand our AI and CX offerings. In addition, we have several other recent highlights. We were once again named a leader in the Gartner Magic Quadrant for CCaaS. We hosted our first ever Five9 AI Day. We launched a new vertical initiative targeting AI in healthcare. We launched a new series called Killer Digital Experiences. We opened our India data center and received our certification from the Indian Department of Telecommunications. And Five9 was named number 16 in the 2024 Fortune Best Places to Work list in the large technology category. In summary, we are pleased with our momentum and success in delivering AI-powered CX. We believe the opportunity ahead for 5.9 is stronger than ever. and customers, as well as other external-facing evangelism for Five9. Our sales organization, led by our recently announced EVP of sales, will now solely report to Andy Dignan, our COO. So Andy is joining us today to talk about our Q3 customer wins. Andy, over to you.