Five9 reported accelerating subscription growth and landed an approximately $100 million total contract value agreement with a new customer during the second quarter of 2026 as the cloud contact center company expands its AI product portfolio.
The nine-figure agreement was closed through Google Marketplace and came during the same quarter Five9 launched Five9 Voice AI Agents. The company described the new offering as providing human-like conversations, real-time responsiveness, enterprise-grade governance and seamless collaboration between AI and human agents.
Five9 generated $312.4 million in second-quarter revenue, up 10% year-over-year, while subscription revenue increased 14%. Adjusted EBITDA totaled $70.1 million, representing a 22.4% margin, and operating cash flow reached $42.1 million.
The company said the quarter marked its third consecutive period of accelerating subscription revenue growth, with AI revenue accelerating even faster. Five9’s trailing-12-month subscription dollar-based retention rate stood at 107% as of June 30, reflecting continued expansion within its installed customer base.
Five9 also made several leadership appointments as it focuses more heavily on AI-powered customer experiences. The company appointed Niranjan Vijayaragavan as Chief Technology Officer, Rob Horvath as Chief Sales Officer and Sven Lindemann as Executive Vice President of International Strategy. It also joined the S&P SmallCap 600 in August.
For the full year, Five9 expects revenue of approximately $1.260 billion to $1.272 billion. The company said its outlook remains subject to uncertainty from macroeconomic conditions, customer spending patterns and other market factors.
KEY QUOTES:
“Q2 marks our third consecutive quarter of accelerating subscription revenue growth, with AI revenue accelerating even faster, and further evidence that our focused execution is producing results. Closing a 9-figure TCV agreement through the Google Marketplace and launching Five9 Voice AI Agents in the same quarter underscore the breadth of our platform and the strength of our market position.”
“With the executive appointments in June, I am confident we have the right team and strategy to extend this momentum and compete to win in AI-empowered customer experiences.”
Amir Mathradas, CEO of Five9
