Competitive PressureIncreasing competition from other providers, including Zoom, Microsoft, and others, poses a challenge for Five9's market position.
Revenue GuidanceManagement lowered its full-year revenue growth guidance to 11.5% year-over-year, down from 16%, due to a shortfall in new bookings.
Workforce ReductionFive9 announced a plan to reduce its headcount by approximately 7%, reflecting the growth and execution challenges the company has faced in recent quarters.