Texas Roadhouse earnings missed by $0.05, revenue topped estimates
SAN RAMON, Calif. - Five9, Inc. (NASDAQ:FIVN), currently valued at nearly $2 billion with shares trading at $25.83, announced Thursday that Chief Executive Officer Mike Burkland has decided to retire from his role as CEO. Burkland will continue to serve as CEO until a successor is appointed and will then transition to Executive Chairman of the Board of Directors. According to InvestingPro analysis, the stock has seen significant pressure recently, declining over 36% in the past six months.
A committee of independent board directors has initiated a search for the next CEO with the assistance of a national executive search firm. The company aims to appoint a successor by the end of 2025.
Burkland first served as CEO from 2008 to 2017, stepping down after a cancer diagnosis, before returning to the position in 2022. During his leadership, Five9 grew from $10 million to over $1 billion in annual revenue and completed its initial public offering in 2014. Recent data from InvestingPro shows the company maintaining strong growth with revenue increasing 14.44% over the last twelve months, though currently operating at a slight loss.
"While my cancer treatments continue to be effective, I recognize that it’s not likely to continue indefinitely," Burkland said in the press release statement. "After giving this a lot of thought, I believe it’s time for me to pass the baton and get back to a more balanced lifestyle."
David Welsh, Five9’s Lead Independent Director, stated that the search for the next CEO will focus on attracting a leader with experience in product innovation, operational excellence, and a growth mindset to capture market share in an expanding total addressable market driven by artificial intelligence.
Five9 provides an intelligent customer experience platform that serves approximately 3,000 customers and partners with 1,400 organizations globally, according to the company’s press release. While the company maintains a healthy liquidity position with current assets exceeding short-term obligations, investors seeking deeper insights into Five9’s financial health and growth prospects can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 top US stocks.
In other recent news, Five9 Inc. reported its second-quarter earnings for 2025, showcasing a mixed financial performance. The company missed earnings per share (EPS) expectations, which led to concerns among investors. Despite this, Five9 exceeded revenue forecasts, highlighting some positive aspects of its financial results. These developments have been a focal point for investors assessing the company’s recent performance. Additionally, analysts have noted the importance of these results in shaping future expectations for Five9. The earnings miss has drawn particular attention, emphasizing the challenges the company faces in meeting market projections. These recent developments have become a significant topic of discussion among financial analysts and investors alike.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.