EarningsLast 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.
Financial GuidanceManagement decided to slash FY24 revenue guidance by 4%, pointing to soft new logo bookings, weak economic data, and execution missteps.
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.