EarningsThe company had a disappointing Q2 with a 4% reduction in FY24 guidance and a 7% reduction in workforce.
Financial PerformanceLast 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.
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.