−Removed: Five9 is a leading provider of intelligent cloud software for contact centers.
−Removed: We were “born in the cloud,” and since our inception, we have focused on delivering our platform in the cloud and are disrupting a large market by replacing legacy on-premises contact center systems and working with newer companies by starting their contact center journey in the cloud.
−Removed: Contact centers are vital hubs of interaction between organizations and their customers and are, therefore, essential to delivering successful customer service, sales, and marketing strategies.
−Removed: Our mission is to empower organizations to transform their contact centers into customer experience centers of excellence, while improving business agility, customer satisfaction, and significantly lowering the cost and complexity of their operations.
−Removed: Our reliable, secure, and scalable Intelligent CX Platform, powered by Five9 Genius AI, delivers a comprehensive suite of easy-to-use applications that enable the breadth of customer service, sales, and marketing functions.
−Removed: We have become an established leader in the cloud contact center market with more than 3,000 customers.
−Removed: We believe our ability to combine software, including artificial intelligence, or AI, solutions, with telephony into a single unified platform that is delivered in the cloud creates a significant advantage.
−Removed: We believe there are three key industry trends driving growth in the cloud contact center market.
+Added: Five9 is a leading provider of intelligent customer experience, or CX, platform for enterprise contact centers.
+Added: With a foundation in our cloud-native solution, Five9 is now evolving into an AI-native CX platform, empowering enterprises to scale seamlessly, innovate faster, and deliver enhanced customer experiences as the market opportunity continues to expand.
+Added: Our reliable, secure, and scalable Intelligent CX Platform, powered by our Five9 Genius AI suite, delivers a comprehensive suite of easy-to-use applications that enable the breadth of customer service, sales, and marketing functions.
+Added: We have become an established leader in the AI-powered CX market with more than 3,000 customers.
+Added: We believe our end-to-end, AI-powered CX platform creates a significant advantage by orchestrating interactions across all channels throughout the customer journey.
+Added: We believe there are two key industry trends driving growth in the cloud contact center market.
First is the increasing adoption of cloud-based solutions within companies around the world, which is creating strong demand for integrated cloud contact center software solutions.
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As a result, cloud contact center software solutions are continuing to replace legacy on-premises contact center systems.
−Removed: Second is digital transformation.
−Removed: End user consumers can easily and quickly switch brands after experiencing poor customer service.
−Removed: Therefore, it is more critical than ever to provide the tools and technologies to meet consumer demands for a seamless experience across their engagement channels of choice.
−Removed: Cloud contact center software solutions provide organizations with the agility to adapt to a rapidly evolving environment and leverage innovative functionalities to improve the way companies engage with customers.
−Removed: Third is advancements in artificial intelligence, or AI.
+Added: These cloud contact center systems provide organizations with the agility to adapt to rapidly evolving customer demands and leverage innovative functionalities to improve engagement.
+Added: Second is advancements in artificial intelligence, or AI.
AI is a significant advancement to improve customer experience across self-service, agent assistance, managerial insights, and workflow automation use cases.
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The recent advances in Generative AI, including Large Language Models, or LLMs, enable new capabilities in contact centers that were not previously possible.
+Added: Our Genius AI suite is a comprehensive portfolio of AI solutions that uses Generative AI to power agentic CX.
+Added: For instance, our agentic AI Agents solution redefines virtual agents, with the power of Generative AI, to deliver a hyper-personalized customer experience, unlocking additional efficiencies with automation.
Our AI Summaries capability uses Generative AI to automatically summarize a call, reducing after-call work time.
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Generative AI technologies are also used in our AI Insights product, which gives customers an understanding of the reasons for customer calls, provides customer sentiment, and call resolution status, with little up-front configuration or setup.
−Removed: Our AI Agents product redefines virtual agents, with the power of Generative AI, to deliver a hyper-personalized customer experience, unlocking additional efficiencies with automation, and is easy and quick to deploy.
−Removed: Our solution empowers our customers to harness the value of these three market trends.
−Removed: Comprised of our Intelligent CX Platform and automation capabilities, including Intelligent Virtual Agent, or IVA, Agent Assist, Workflow Automation, or WFA, Workforce Engagement Management, or WEM, AI Insights and AI Summaries, Revenue Execution, and our most recent AI capability, AI Agents, our solution allows simultaneous management and optimization of customer interactions across voice, chat, email, web, social media and mobile channels, either directly or through our application programming interfaces, or APIs.
−Removed: Our Intelligent CX Platform matches each consumer interaction with an appropriate agent resource and delivers relevant consumer data to the agent in real-time through integrations with adjacent enterprise applications,
−Removed: such as CRM software, to optimize the consumer experience and improve agent productivity.
+Added: Our solution empowers our customers to harness the value of these two market trends.
+Added: Comprised of our Intelligent CX Platform and AI capabilities, including agentic AI agents, Agent Assist, Workflow Automation, or WFA, AI Insights, AI Summaries, Workforce Engagement Management, or WEM, and Revenue Execution, our solution allows simultaneous management and optimization of customer interactions across voice, chat, email, web, social media and mobile channels, either directly or through our application programming interfaces, or APIs.
+Added: Our Intelligent CX Platform matches each consumer interaction with an appropriate agent resource and delivers relevant consumer data to the agent in real-time through integrations with adjacent enterprise applications, such as CRM software, to optimize the consumer experience and improve agent productivity.
Delivered on-demand, our solution ensures customers always have the latest version, and enables them to quickly deploy agents in any geographic location with only a computer, headset and broadband internet connection.
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Unlike legacy on-premises contact center systems, our solution requires limited up-front investment, can be rapidly deployed, and is maintained by us in the cloud.
+Added: The contact center is the system of record for interactions with full conversation history.
+Added: Our platform serves as a real-time orchestration engine for every customer interaction across all channels, whether it is with a human agent or an AI agent.
+Added: As a result, our platform is designed to deliver a seamless collaboration between human agents and AI agents, where each interaction strengthens the next.
+Added: This continuous learning loop compounds over time, creating a powerful data flywheel that drives higher performance, accuracy, and personalization for every customer engagement.
+Added: We believe this is the structural advantage of our end-to-end AI-powered CX platform.
Our sales model consists of a field sales team that sells our solution into mid-size, enterprise, and Fortune 1000 companies and a telesales team that sells our solution into smaller companies.
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Our AI solutions are sold to our customers on a consumption or capacity basis.
−Removed: We have achieved significant growth in recent periods.
+Added: Our revenue has consistently grown.
For the years ended December 31, 2025, 2024 and 2023, our revenue was $1,149.1 million, $1,041.9 million and $910.5 million, respectively, representing year-over-year growth of 10% and 14%, respectively.
−Removed: We incurred net losses of $12.8 million, $81.8 million and $94.7 million for the years ended December 31, 2024, 2023 and 2022, respectively, primarily as a result of increased investment in our growth, along with higher stock-based compensation.
+Added: We have achieved significant improvement in our net income (losses) in recent periods.
+Added: We recorded net income (losses) of $39.4 million, $(12.8) million and $(81.8) million for the years ended December 31, 2025, 2024 and 2023.
As of December 31, 2025, 2024 and 2023, our total assets were $1,790.1 million, $2,051.2 million and $1,494.6 million, respectively.
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These capabilities are offered across a wide variety of engagement channels from chat and SMS to e-mail and voice.
−Removed: Consumers are able to engage using their channel of choice and customers are able to facilitate seamless experiences that benefit from digital transformation.
+Added: Consumers are able to engage using their channel of choice and customers are able to facilitate seamless experiences.
Our agent interface is an intuitive, modern browser-based design that provides easy visualization of customer profiles, context and cross-channel history.
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We provide high quality inbound and outbound voice services leveraging our global network infrastructure with key strategic carrier partnerships, including complex real-time call routing, and a wide range of customer connectivity options for secure and resilient interconnectivity to our network.
−Removed: Our complete end-to-end capabilities include IVA, Interactive Voice Response, or IVR, WFA, WEM, Agent Assist, AI Insights, AI Summaries, Revenue Execution, AI Knowledge, AI Agents, Automatic Call/Contact Distribution, or ACD, with skills-based routing, reporting, dashboards, agent and supervisor desktops, outbound dialer, pre-built
−Removed: third-party integrations, quality management, speech and desktop analytics, customer surveys and more.
−Removed: Our solution also includes revenue execution capabilities, including outbound campaigns, compliance and out-reach solutions through our acquisition of Acqueon Inc., or Acqueon, in 2024.
+Added: Our complete end-to-end, omni-channel capabilities include AI Agents, Agent Assist, WFA, AI Insights, AI Summaries, AI Knowledge, WEM, Automatic Call/Contact Distribution, or ACD, with skills-based routing,
+Added: reporting, dashboards, agent and supervisor desktops, outbound dialer, pre-built third-party integrations, quality management, speech and desktop analytics, customer surveys and engagement through chat, email, social and web.
+Added: Our solution also includes revenue execution capabilities, including outbound campaigns, compliance and out-reach solutions.
Our solution provides the following advantages:
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Our solution is designed to provide the following key benefits to customers:
−Removed: • A complete omnichannel solution.
−Removed: Our Intelligent CX Platform offers a comprehensive and rich collection of interaction capabilities including voice, email, SMS, chat, and more.
+Added: • A complete omni-channel solution.
+Added: Our Intelligent CX Platform offers a comprehensive and rich collection of interaction capabilities including voice, email, SMS, chat, social and more.
By offering a collection of services to interact with customers in multiple ways, our customers benefit from closer engagement, improved brand loyalty, and higher repeat purchases by meeting customers where they are.
• Improved customer experience.
−Removed: Our intelligent contact routing and self-service IVA, IVR, and AI Agent capabilities, including pre-built CRM and other integrations, and omnichannel engagement ensure that consumers have a great experience.
+Added: Our intelligent contact routing and self-service IVA, IVR, and AI Agent capabilities, including pre-built CRM and other integrations, and omnichannel engagement are designed to ensure that consumers have a positive experience.
New contacts are quickly routed to an appropriate agent.
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Our solution enables agents to switch between media channels through an easy-to-use, unified interface that provides agents with all of the relevant content and tools needed to respond to customer needs.
−Removed: Furthermore, our AI enabled automation features are designed to enable agent efficiency and cost reductions, including through the utilization of LLMs and natural language processing, or NLP.
+Added: Furthermore, our Genius AI suite of solutions are designed to enable agent efficiency and cost reductions, including through the utilization of LLMs and natural language processing, or NLP.
• Enhanced end-to-end visibility.
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Our advanced reporting solution enables us to connect to external data sources such as ACDs, WEM platforms, CRM solutions, and many more pre-built integrations.
−Removed: Our acquisition of Aceyus, Inc., or Aceyus, enables us to connect disparate reporting and intelligence data sources, and synthesize them for use across different systems.
−Removed: The combination of Five9 reporting, Five9 Analytics, and Aceyus VUE provides an organization-wide view of customer engagement performance and allows customers to quickly address changing circumstances.
+Added: In addition, the combination of our reporting and analytic solutions enable us to connect disparate reporting and intelligence data sources, providing an organization-wide view of customer engagement performance and allowing customers to quickly address changing circumstances.
+Added: • Global voice & telecommunications infrastructure.
+Added: Our solution integrates a global voice network and telecommunications foundation with cloud-based software to support reliable, scalable, and compliant customer engagement across multiple geographies.
+Added: Our solution is built on a distributed network architecture with redundant routing, regional points of presence, and diverse carrier interconnections, and is complemented by extensive customer self-service capabilities that enable customers to provision services, manage numbers and routing, configure policies, and control call flows without direct provider intervention.
+Added: Customers are also provided with embedded observability, monitoring, and alerting capabilities that offer
+Added: visibility into call performance, traffic patterns, and service health, enabling proactive management of their operations.
• Greater operational efficiency.
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• Compelling value proposition.
−Removed: We provide a unified cloud-based software platform for contact center operations, including software applications, technology infrastructure, maintenance, monitoring, storage,
−Removed: security, customer support and upgrades, which enables our customers to simplify their technology infrastructure and streamline IT costs.
+Added: We provide a unified cloud-based software platform for contact center operations, including software applications, technology infrastructure, maintenance, monitoring, storage, security, customer support and upgrades, which enables our customers to simplify their technology infrastructure and streamline IT costs.
We manage upgrades and deployments remotely, resulting in lower total cost of operations relative to legacy on-premises contact center systems that often require in-house technical support staff.
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We provide our AI Blueprint program to assist customers with strategic planning and implementation of powerful solutions from our Genius AI suite.
−Removed: Our consultative approach to identifying business opportunities for enhancement and growth, leveraging Generative AI is helping companies take advantage of these new technologies to improve CX and increase customer satisfaction.
+Added: Our consultative approach to identifying business opportunities for enhancement and growth, leveraging our Genius AI suite of solutions is helping companies take advantage of these advanced technologies to improve CX and increase customer satisfaction.
Our Competitive Strengths
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Our highly reliable, scalable, secure and multi-tenant architecture enables us to serve large multi-national enterprises with complex contact center requirements, as well as smaller organizations, all from our platform comprised of globally distributed physical data centers and public cloud deployments.
−Removed: We have also commenced investments in a dedicated U.S.-based data center deployment to support Federal Risk and Authorization Management Program, or FedRAMP, customers.
+Added: We also have investments in a dedicated U.S.-based data center deployment to enable us to support any Federal Risk and Authorization Management Program, or FedRAMP, customers in the future.
• Customer success with our consultative approach.
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• Reliable, secure, compliant and scalable platform.
−Removed: Our pla tform delivers what we believe is industry-leading reliability utilizing public and private cloud technology;
+Added: Our platform delivers what we believe is industry-leading reliability utilizing public and private cloud technology;
cybersecurity using a defense-in-depth approach;
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• Proven, repeatable and scalable go-to-market model.
−Removed: We engage with our customers through a highly scalable and metrics-driven sales and marketing organization that effectively identifies, qualifies and closes sales opportunities.
+Added: We engage with our customers through a highly scalable and metrics-driven sales and marketing organization that effectively identifies, qualifies and closes
+Added: sales opportunities.
The deep domain expertise of our field sales team is instrumental in selling to larger opportunities, and our highly efficient telesales model enables us to cost-effectively identify, qualify and close a high volume of smaller opportunities.
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unified communications vendors such as Microsoft Teams, RingCentral and Zoom;
−Removed: system integrators such as Accenture PLC, Deloitte Consulting LLP, IBM, Kyndryl, Inc., PwC LLP and Slalom Consulting, LLC;
−Removed: technology solution distributors such as Avant, LLC, Intelysis and Telarus, value-added resellers such as AT&T Inc.
−Removed: and British Telecom, CDW Corporation, NWN Carousel, Presidio Networked Solutions Group, LLC, and Worldwide Technologies;
−Removed: independent software vendors such as Cresta AI, Pindrop, Blackchair, Level AI, Calabrio and Verint;
+Added: system integrators such as Accenture PLC, Deloitte Consulting LLP, Ernst & Young, IBM, Kyndryl, Inc., PwC LLP and Slalom Consulting, LLC;
+Added: technology solution distributors such as Avant, LLC, Intelysis, Sandler Partners, Telarus, Amplix and Bridgepoint Technologies;
+Added: value-added resellers such as AT&T Inc., Babble Cloud, British Telecom, Connect Managed Services (UK) Limited, CDW Corporation, NWN Carousel, Opus Technology and TELUS Communications;
+Added: software vendors such as Cresta AI, Pindrop, Blackchair, Level AI, Calabrio and its recently acquired subsidiary, Verint;
and telephony providers.
We believe this partner ecosystem has enabled us to increase our brand awareness and enhance the functionality and value of our solution for our customers.
+Added: • Enabling Network and Telecommunications Services .
+Added: Our global network and telecommunications capabilities represent a competitive strength because we directly operate and manage critical elements of our voice infrastructure, service delivery workflows, and telecom integrations, rather than relying primarily on third-party aggregation.
+Added: This level of operational control allows us to optimize routing, manage capacity, respond to incidents, and evolve our network while deploying these capabilities with our customers through integrated self-service, monitoring, and alerting tools that provide real-time insight into service performance.
+Added: By unifying telecom engineering, operations, regulatory expertise, and customer-facing controls within a single operating model, we are able to support complex, high-volume, and multi-region deployments, while adapting to changing customer requirements, carrier dynamics, and regulatory environments, which we believe enhances our ability to compete effectively in the enterprise contact center market.
• Focus on innovation and thought leadership .
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Recent advances in Generative AI enable us to deliver even more innovation by integrating it deep into our Intelligent CX Platform.
−Removed: We believe that AI, and Generative AI in particular, will profoundly impact how businesses deliver experiences to their customers.
+Added: We believe that AI, and Generative AI in particular, will continue to profoundly impact how businesses deliver experiences to their customers.
We have a large, diverse and global customer base comprised of more than 3,000 organizations as of December 31, 2025, with no single customer representing more than 10% of our revenues in 2025, 2024 or 2023.
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In addition, our industry analyst, press and media outreach programs, and web site marketing initiatives are designed to build brand awareness and preference for our solution.
−Removed: We offer online self-service demos and instructional videos to help prospective customers learn about the capabilities and functionality of our cloud platform.
+Added: We offer online
+Added: self-service demos and instructional videos to help prospective customers learn about the capabilities and functionality of our cloud platform.
We also offer proof of concept service packages and trial opportunities, which include return-on-investment analyses conducted by third parties, to allow prospects to experience the quality and ease-of-use of our cloud solution and quantify the potential benefits of our deployment model.
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We provide professional services to assist our customers in implementing and optimizing our solution.
−Removed: These services include application configuration, system integrations, custom development, AI consulting, and education
−Removed: and training.
+Added: These services include application configuration, system integrations, custom development, AI consulting, and education and training.
Customers can either use our team for implementing our solution, perform these services themselves, engage one of our certified implementation partners, or engage their own third-party service provider.
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Our core research and development center is based in our San Ramon, California headquarters, with additional engineers located in Australia, Portugal, and India, which international locations allow us to benefit from lower cost and highly skilled software developers.
−Removed: In January 2023, we opened our new European Research and Development Hub in Porto, Portugal, which serves as our European engineering headquarters.
Our engineering team has deep software and telecommunications skills, and works closely with our sales team to identify our customers’ product requirements.
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Our operations team monitors our data centers for potential performance issues, unauthorized attempts to access secure data or applications and the overall integrity of the platform.
−Removed: The market for contact center software is fragmented, highly competitive and evolving rapidly.
−Removed: The proliferation of different channels of engagement is driving changes in contact center technology, as customers expect companies to give them the option of seamless communication across all channels without losing the overall context of customer interactions according to their preferences and needs.
+Added: The market for contact center software is fragmented, highly competitive and rapidly evolving.
+Added: The proliferation of different channels of engagement is driving changes in contact center technology, as customers
+Added: expect companies to give them the option of seamless communication across all channels without losing the overall context of customer interactions according to their preferences and needs.
More recently, the advent of Generative AI and related technologies has prompted an acceleration in the actual and expected adoption of AI solutions for customer self-service, agent assistance, and management of contact center operations.
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We also face competition from many smaller contact center service providers such as Content Guru and Talkdesk, as well as vendors offering both unified communications and contact center solutions such as RingCentral and Zoom.
−Removed: In addition, Amazon.com, Inc., or Amazon, Twilio Inc., or Twilio, and most recently, Microsoft, have introduced solutions aimed at companies who wish to build their own contact centers and/or contact center components with developers.
+Added: In addition, Amazon.com, Inc., or Amazon, Twilio Inc., or Twilio, and Microsoft, have introduced solutions aimed at companies who wish to build their own contact centers and/or contact center components with developers.
In addition, CRM vendors are increasingly offering features and functionality, including AI contact center solutions, that were traditionally provided by contact center service providers.
−Removed: CRM and customer experience vendors also continue to partner with
−Removed: contact center service providers to provide integrated solutions and may, in the future, acquire competitive contact center service providers.
+Added: CRM and customer experience vendors also continue to partner with contact center service providers to provide integrated solutions and may, in the future, acquire competitive contact center service providers.
We also compete with new market entrants in AI that offer Generative AI solutions that compete as point products in the market.
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We also rely on a number of registered and unregistered trademarks to protect our brand.
−Removed: In addition, we require our employees and independent contractors involved in development of intellectual property to enter into agreements acknowledging that all works, or other intellectual property generated or conceived by them on our behalf, are our property, and assigning to us any rights, including intellectual property rights, that they may claim or otherwise have in those works or property, to the extent allowable under applicable law.
−Removed: As of December 31, 2024, our intellectual property portfolio included nine registered U.S.
−Removed: trademarks, three pending U.S.
+Added: In addition, we require our employees and independent contractors involved in development of intellectual property to enter into agreements acknowledging that all works, or other intellectual property generated or conceived by them on our
+Added: behalf, are our property, and assigning to us any rights, including intellectual property rights, that they may claim or otherwise have in those works or property, to the extent allowable under applicable law.
+Added: As of December 31, 2025, our intellectual property portfolio included 9 registered U.S.
+Added: trademarks, 2 pending U.S.
trademark applications, 26 issued U.S.
−Removed: patents, seven pending U.S.
−Removed: patent applications and one registered U.S.
+Added: patents, 4 pending U.S.
+Added: patent applications and 1 registered U.S.
As of December 31, 2025, outside the U.S.
−Removed: we also had 27 trademark registrations across various countries, two pending trademark applications, five issued patents and three pending international national phase patent applications.
+Added: we also had 27 trademark registrations across various countries, 2 pending trademark applications, 5 issued patents and 3 pending international national phase patent applications.
There are no Patent Cooperation Treaty, or PCT, patent applications.
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We believe that there are seasonal factors that cause our revenues in the first half of a year to be lower than our revenues in the second half of a year.
−Removed: During 2024, 2023 and 2022, 52%, 52%, and 52% of our total revenues
−Removed: were generated in the second half of each year.
+Added: During 2025, 2024 and 2023, 51%, 52%, and 52% of our total revenues were generated in the second half of each year.
We believe this is due to increased activities in retail, healthcare and education in the second half of each year.
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43% of our employees are in various cost of revenue functions, 25% in research and development, 20% in sales and marketing and 12% in general and administrative.
−Removed: Our employee turnover for the last three years has averaged 14.7%.
The key human capital measures and objectives that we focus on in managing our business, and creating an environment where all of our employees can thrive, are maintaining our company values, creating an inclusive environment with a broad base of skill sets and experiences, our total rewards philosophy, our talent development, and our employees’ safety and wellness.
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This powerful team-first culture enables us to overcome obstacles and win year after year, while enjoying the journey together.
−Removed: Our values are woven throughout the entire employee lifecycle and used in the interview process to ensure we hire candidates that have personal values that align with ours.
−Removed: Our values are instrumental in the semi-annual employee performance self-reflection cycle, and we request that employees share how they have lived our values.
−Removed: In addition, we regularly celebrate employees that live our values through recognition and rewards.
−Removed: We introduce new employees to our values during new hire orientation and our values are visible in the offer package as well as company employee resource pages.
−Removed: Our CEO also weaves these values into quarterly company meetings and regular smaller meetings, where one of the values may be highlighted through a story and employee example.
−Removed: We regularly collect feedback to better understand and improve the employee experience and identify opportunities to continually strengthen our culture.
−Removed: 82% of our employees participated in our most recent employee survey in 2024.
−Removed: Last year we maintained the highest level of employee engagement according to our vendor, Culture Amp, as noted in its Engagement and Inclusion benchmark (top quartile) based upon responses from approximately 2,000 companies.
−Removed: The areas rated highest by our employees were:
−Removed: growth and development (77%) and collaboration and communication (70%).
+Added: Our Five9 values are woven throughout the entire employee lifecycle and used in the interview process to ensure we hire candidates who have values that align with ours.
+Added: These values are a key element of our semi-annual employee performance self-reflection cycle, where our leaders request that employees share how they have lived our values.
+Added: In addition, we periodically celebrate employees that live our values through recognition and rewards.
+Added: We introduce new employees to our values during new hire orientation and our values are visible in employee resource pages.
+Added: We regularly gather employee feedback to better understand the employee experience and identify opportunities to continuously strengthen our culture.
+Added: In our most recent survey in 2025, 83% of our employees participated and our engagement score was 72%, exceeding the Culture Amp benchmark by three percentage points and placing us in the top quartile of nearly 2,000 companies in the Engagement and Inclusion benchmark.
+Added: Standout results included employees noting high team effectiveness (90%) and growth and development (81%).
Inclusion and Culture
At Five9, we foster an inclusive environment by creating a culture where our employees can be their authentic selves.
−Removed: We integrate our core values of honesty and respect and lead with transparency and inclusivity.
−Removed: We are committed to building belonging in our workplace and society at large.
−Removed: Our goal is to empower our employees to have a voice that’s heard and foster a community where they feel they belong.
−Removed: In our recruiting, we seek candidates
−Removed: from a broad array of sources to enable us to access the best candidates and build a broad base of skill sets and experience.
−Removed: Additionally, we have various employee-led affinity groups that are open to all of our employees.
+Added: We endeavor to integrate our core values of honesty and respect in how we engage with one another, encourage leading with transparency and inclusivity and are committed to building a workplace culture where every employee feels they belong.
+Added: Our goal is to empower our employees to have a voice that is heard and foster a community where they feel they belong.
+Added: In our recruiting, we seek candidates from a wide array of sources to enable us to access the best candidates and build a broad base of skill sets and experience.
Women represented 32% of our worldwide employees and racial and ethnic minorities represented 36% of our U.S.
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Total Rewards Philosophy
−Removed: Our total rewards philosophy is a comprehensive approach designed to attract, engage, and retain the best talent in our industry by providing a total rewards package that is at or above market rates and, in cases where business demands are unique, we may lead the competitive market.
−Removed: This philosophy is rooted in our understanding that our employees are the cornerstone of our success and that their well-being and satisfaction are paramount to our sustained growth and market leadership.
−Removed: Central to our philosophy is the principle of equity and inclusivity.
−Removed: We strive to ensure that our rewards system is fair and transparent.
+Added: Our total rewards philosophy is a comprehensive approach designed to enable us to attract, engage, and retain talent in our industry by offering a differentiated and competitive overall employee value proposition.
+Added: We believe our employees are central to our performance and long-term success, and we seek to align our total rewards programs with our business strategy, operating priorities, and evolving workforce needs.
+Added: Central to our philosophy is the principle of equitable compensation.
+Added: We strive to ensure that our rewards system is fair, consistent, and transparent.
This approach fosters a sense of belonging and commitment among our workforce, driving engagement and productivity.
Our total rewards philosophy reflects our commitment to creating a supportive and empowering environment for our employees, where they can thrive professionally and personally.
−Removed: By investing in our people in this way, we not only enhance individual well-being but also drive organizational performance and stakeholder value, securing our position as a leader in our industry.
−Removed: Our total rewards system encompasses not just competitive cash compensation, but a holistic package that addresses the diverse needs of our workforce.
−Removed: This includes healthcare benefits, mental health benefits to employees and their dependents, financial and physical well-being programs, parental leave, fertility reimbursement, retirement plans, performance bonuses, equity awards, and work-life balance initiatives.
−Removed: Our total rewards strategy is dynamic and responsive to the changing marketplace and workforce demographics.
+Added: By investing in our people in this way, we not only enhance individual well-being but also drive organizational performance and stakeholder value.
+Added: Our total rewards system encompasses not just competitive cash compensation, but a holistic package that addresses the needs of our workforce.
+Added: This includes healthcare benefits, mental health benefits to employees and their dependents, financial and physical well-being programs, parental leave, fertility programs, retirement plans, performance bonuses, equity awards, and work-life balance initiatives.
+Added: Our total rewards strategy is designed to be responsive to market conditions and evolving business needs.
We regularly benchmark our offerings against prevailing industry practices to ensure we remain competitive and appealing as an employer.
−Removed: Additionally, we embrace a culture of continuous feedback, allowing us to adapt and refine our rewards in alignment with employee needs and business objectives.
+Added: Additionally, we embrace a culture of continuous feedback, allowing us to adapt and refine our rewards as appropriate to support retention, motivation, and the execution of our business strategy.
Talent Development
−Removed: Talent development is a pivotal element of our organizational strategy and is essential for maintaining our competitive advantage in a dynamic global market.
−Removed: We are deeply committed to the growth of our employees, as evidenced by our multifaceted talent development programs.
−Removed: Our Leadership Principles guide the cultivation of a forward-thinking and agile leadership pipeline at all levels within our organization.
−Removed: Leadership Principles inform our Talent Acquisition, Learning and Development and Performance Management practices to ensure we identify, grow and develop the right leadership skills for the future.
−Removed: Our talent review process focuses on identifying employees that are high potential and high performing.
−Removed: We believe learning happens at every part of an employee’s tenure at our company.
−Removed: We continuously strengthen our onboarding practices to ensure employees have the skillset to be successful in their jobs.
−Removed: To support ongoing in-role development, we have semi-annual development conversations between employees and managers to ensure employees have individualized career discussions that align both with organizational goals and the employee’s professional development.
−Removed: We also make learning pathways available through a platform where all employees can take courses to grow their skillsets.
−Removed: By investing in our Leadership Principles, employee onboarding, ongoing development, and talent reviews, we create a dynamic and resilient workforce, poised to drive innovation and growth.
+Added: Talent development is a core component of our talent strategy to be competitive in a dynamic global market.
+Added: We invest in employee growth through a range of talent development programs designed to build critical skills and leadership capabilities.
+Added: Our Leadership Principles guide Talent Acquisition, Learning and Development, and Performance Management practices, supporting the identification and development of leadership capabilities at all levels.
+Added: Talent review processes focus on identifying high-performing and high-potential employees.
+Added: Learning is supported across the employee lifecycle through enhanced onboarding, semi-annual development conversations between employees and managers, and investments in anytime learning via a centralized, on-demand learning platform offering skill-based learning pathways.
+Added: We also invest in leadership capabilities through our Elevate Leadership Development Program, which reinforces leadership expectations and consistent leadership practices.
+Added: Through these investments, we endeavor to support a skilled and high-performing workforce aligned to our long-term business objective
Workplace Practices and Policies
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We participate in building sustainability by occupying LEED certified and 5-Star NABERS Energy Rated multi-tenant buildings.
−Removed: Our corporate headquarters offers a transportation program to cut down on emissions.
−Removed: We have made strides in reducing energy consumption by upgrading our lighting system and installing motion sensors for lighting and convenience electrical outlets.
+Added: Our corporate headquarters offers a transportation program in effort to reduce emissions.
+Added: In addition, we have made strides in reducing energy consumption by upgrading our lighting system and installing motion sensors for lighting and convenience electrical outlets.
To reduce waste, we use source compostable/recyclable kitchen products, centralized waste collection with an emphasis on recycling, established an E-waste program, implemented software tools to minimize printing waste and reduce equipment and toner purchases, and expanded our battery recycling program to include work-related and personal battery recycling.
−Removed: We are also committed to complying with California’s climate legislation, SB-253 and SB-261.
−Removed: This commitment involves the reporting to Scope 1, 2, and 3 emissions within the mandated reporting periods.
+Added: We are also committed to complying with California’s evolving climate legislation.
+Added: This commitment includes reporting to Scope 1, 2, and 3 emissions within the mandated reporting periods.
The following summarizes important, but not all, federal, state and foreign regulations that could impact our operations.
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As a result, telecommunications services are regulated at both the federal and state levels in the United States.
−Removed: We are classified as a telecommunications service provider for federal regulatory purposes.
−Removed: Since our business is regulated by the FCC, we are subject to existing or potential FCC regulations relating to privacy, disability access, Enhanced 911 access, access to and porting of numbers, automatic number dialing, contributions to the federal Universal Service Fund and related funds, or USF, and other requirements.
+Added: Many of the services we provide are classified as a telecommunications service provider for federal regulatory purposes.
+Added: Since our business is regulated by the FCC and some state public utility commissions, we are subject to existing or potential state and federal regulations relating to privacy, disability access, Enhanced 911 access, access to and porting of numbers, automatic number dialing, contributions to the federal Universal Service Fund and related funds, or USF, and other requirements.
+Added: There is uncertainty on how other services that we provide may become subject to FCC or state public utilities commission regulations.
If we do not comply with FCC rules and regulations, we could be subject to FCC enforcement actions, fines and possibly restrictions on our ability to operate or offer certain of our services.
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If we do not comply with FTC rules and regulations, we could be subject to an FTC enforcement action, fines or restrictions on our business practices.
−Removed: We must comply with numerous federal regulations, including:
+Added: We must comply with numerous federal and state regulations, including:
• Telephone Consumer Protection Act of 1991, or TCPA, which regulates the use of automatic dialing equipment and pre-recorded messages to contact consumers, the Telemarketing Sales Rule and state telemarketing laws, which have similar obligations as to telemarketing activities;
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• The Communications and Video Accessibility Act and rules pertaining to access to our services by people with disabilities and contributions to the Telecommunications Relay Services fund;
−Removed: • FCC rules regarding Customer Proprietary Network Information, or CPNI, which require that we limit disclosure of certain information received from customers as a result of a service provider/customer relationship without customer approval, subject to certain exceptions;
+Added: • FCC rules regarding Customer Proprietary Network Information, or CPNI, which require that we implement adequate safeguards against unlawful access to CPNI, and limit disclosure of certain information received from customers as a result of a service provider/customer relationship without customer approval, subject to certain exceptions;
• Federal Trade Commission Act and rules promulgated thereunder, which generally relate to avoiding unfair and deceptive trade practices, our advertising, use and deployment of certain AI-based services, and privacy practices;
• The Health Information Portability and Accountability Act (or HIPAA) and rules promulgated thereunder, which generally relate to the privacy and security of certain health-related information;
−Removed: • an evolving set of comprehensive state privacy laws that require compliance with privacy frameworks and include disclosure and permission-related obligations to individuals for whom we hold or process personal data.
+Added: • The California Consumer Privacy Act (or CCPA) and comprehensive state privacy laws in other U.S.
+Added: states that require compliance with privacy frameworks and include disclosure and permission-related obligations with respect to our collection, processing, and disclosure of personal data.
In addition, we must make contributions and other payments on our usage-based fees to state and local governmental entities.
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It is not possible to predict how such evolution and changes will affect our business or our industry.
−Removed: If we do not comply with current or future rules or regulations that apply to our business, we could be subject to substantial fines and penalties, we may have to restructure our service offerings, exit certain markets, accept lower margins or raise the price of our services, any of which could harm our business and results of operations.
+Added: If we do not comply with current or future rules or regulations that apply to our business, we could be subject to substantial fines and penalties, we may have to restructure our service offerings, exit certain markets, accept lower margins or raise the price of our services, any of which could harm our business
+Added: and results of operations.
See “Risk Factors — Risks Related to Regulatory Matters” under ITEM 1A of this Form 10-K for more information.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.