FIVE9, INC. Goldman Sachs Communacopia + Technology Conference 2026

Yeah, really good question. Look, Five9 has been around for over two decades, building a cloud-native, voice-first platform that focused on the contact center. Over the years, we've evolved that to plug into digital, to AI, and now actually bringing all facets of that together and serving that up with visibility tools like Workforce Engagement Management, analytics, and other things that are required to monitor, watch, and grow your contact center. The other big piece of it is we deliver this through an open ecosystem, plugging into integrated systems, plugging into complex systems of record where you drive the outcomes. To your question, where do we have the right to win? I think in today's world, when you are looking at a deployment where humans, agents, and tools need to come together to drive complex use cases, particularly in regulated industries, I think is where we do really well.

Okay, great. It's a great level set. Let's talk about just sort of the market bifurcation between on-prem and cloud. Roughly 60% of the contact center market is still on legacy on-premise systems.

Yeah, look, as you said, 60% of our space, 50%, 60% of the space is still on-prem. I always joke that if you haven't gone to the cloud, till now, you've really not wanted to go. That has been shifting with AI. As AI is becoming more pervasive in the contact center, particularly Voice AI.

I think what customers are starting to realize is that the architecture for on-prem really does not support the best outcomes for things like the new generation of Voice AI and other capabilities. That is, in a lot of cases, forcing customers to lift their heads and say, "Is it time for us to move? Is it time to consider moving to the cloud?" In a number of cases, they come to us and test our AI capabilities first, followed with the CCaaS component and the connection points that come beyond it. We are starting to see that driven with the shift in AI.

Thank you for that question, and I think it's core to how we see the world and where we are going. I always start with, think about this massive conundrum of companies, including ours, spend millions and millions of dollars of marketing money and others to attract prospects to become customers. When they become customers, we tend to then spend as little as we can engaging with them because it moves to an OPEX center. What you are seeing, what is happening with AI is, it is changing the economics of the contact center. A lot of the base use cases, the repeatable motions are now going to AI, Voice AI, other toolkits. What that does is it is leaving humans to go drive and deliver more of the complex use cases.

The ones that in some cases in regulated industries, it is mandated that you have to still engage with humans. For us and where we see our role in that, what we are seeing with customers is in a number of cases, they are using this economic shift in the contact center not to remove dollars, but to start reaching tier 2, tier 3 customers that they could have never afforded to engage with before. So interactions are dramatically going up. This symbiotic relationship between AI and humans is where we see the world, and that is how we see it, which is it is not humans, it is not agentic, it is Humantic. You are not going to see a world where it is binary. AI is going to flow to humans, back to AI, and that cycle will continue. That is the evolution we are seeing in our space.

I think the data that humans produce and the data that AI produces is going to make each of these pieces better. So that is the way the world is going.

Today, our human agency count continues to grow at a healthy rate. If you look at our second quarter results, our CCaaS subscription revenue grew 7% year-over-year, and the human agency count was right in line with that. But, for our customers, if they look ahead three, four, five years, they too actually don't know exactly what that optimal mix will be between human agents and AI Agents, which is why we actually introduced this revenue commit model.