Financial PerformanceLast quarter, the company missed its internal bookings targets and issued a major downward revision to its guidance, which now implies just 11-12% growth this year, down from 16% prior.
Sales ExecutionInvestors were left with concerns on FIVN's ability to capitalize on the greater CCaaS opportunity due to weaker consumer expectations and mis-execution on sales.
Workforce ReductionFive9 announced a reduction in force of roughly 7% of its global workforce, estimating the costs of such a plan to be around $12 million to $15 million.