Shares of Five9 Inc. (FIVN) surged over 23% in pre-market trading on Wednesday, November 8, 2024, after the cloud contact center software provider reported strong third-quarter results and raised its full-year guidance, driven by robust demand for its AI-powered platform.

For the quarter ended September 2024, Five9 posted revenue of $264.2 million, beating analysts' estimates of $255.1 million and representing a 14.8% increase year-over-year. The company's subscription revenue, which accounts for nearly 80% of total revenue, grew an impressive 20% compared to the same period last year.

Five9's adjusted earnings per share of $0.67 also surpassed Wall Street's expectations of $0.58, reflecting a 29% growth from the prior year. The company's adjusted EBITDA margin improved to 19.8%, up 1.9 percentage points year-over-year, demonstrating its operational efficiency.