The term "intangible assets" refers to assets with high value but no physical presence that provides long-term financial benefit to a company. The company's identifiable intangible assets are those that can be sold independently, separated from other assets, and valued. Intellectual property, like as patents, trademarks, and copyrights, as well as non-cash government grants, such as broadcasting licenses or airport landing rights, are examples of identifiable intangible assets. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Five9’s gross value of intangible assets remained unchanged at $58.78 million in FY2022 as compared to the previous year. In FY2022, the company's net value of intangible assets was $39.89 million. Developed technology, Acquired workforce, Customer relationships, and Trademarks amounted to $56.21 million, $0.47 million, $1.6 million, and $0.5 million respectively, based on the company's calculation of the fair value of identified intangible assets in FY2022. The company's amortization expense for intangible assets was $11.8 million in FY2022.
The company's total assets increased by $129.2 million, from $1,063 billion in FY2021 to $1,192 billion in FY2022. The increase is primarily the result of an increase in Operating lease right-of-use assets of $39.69 million and an upsurge of $105.25 million in Marketable investments.
The company acquired Inference Solutions and Virtual Observer during the year. Its goodwill after the acquisition increased from $15.53 million to $39.89 million in FY2022.
Five9 Inc (Five9) is a technology company that offers cloud software solutions for contact centers. The company provides interactive voice response (IVR), real-time and historical dashboards, reporting, intelligent virtual assistant (IVA), analytics, workforce optimization and workflow automation. Its outbound call center offers a predictive dialer, progressive dialer, power dialer, preview dialer and TCPA. Five9 provides omnichannel customer interactions including social, voice, chat, SMS, email, video, and more through call center software. The company also provides services such as professional services, training, and support services. It serves business process outsourcers, financial services, and banking, technology, healthcare, retail, and education. The company operates in the US, the UK, Australia, the Philippines, the Netherlands, Spain, Sweden, Brazil, Germany, and Canada. Five9 is headquartered in San Ramon, California, the US.
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