FIVN
Five9, Inc.
Is FIVN Halal?
Cloud contact-center software — a permissible SaaS business whose current debt and liquidity screens fail.
What You Should Know
Five9 provides cloud contact-center, AI-assisted agent and automation software. Its March 31, 2026 Form 10-Q reports assets of $1,865.310 million, debt and lease obligations of $800.311 million, cash of $273.011 million, marketable investments of $450.865 million, receivables of $136.541 million and quarterly revenue of $305.319 million. Debt/assets is 42.90%, liquidity/assets is 38.81% and receivables plus cash/assets is 21.96%; the asset-based debt and liquidity screens fail. The filing combines interest income with other income, so no pure gross non-compliant-income numerator is asserted.
⚠️ Concerns
- •Known debt/assets is 42.90%, above examined limits
- •Known liquidity/assets is 38.81%, above examined 33.333% limits
- •Interest income is combined with other income; no fixed purification percentage asserted
- •Convertible notes and marketable-investment balances require continuing review
- •No universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
800.311 / 1,865.31
723.876 / 1,865.31
409.552 / 1,865.31
- Financial
- Fails
- Overall
- Fails
Debt/assets is 42.90% and liquidity/assets is 38.81%, above the examined limits; receivables-plus-cash/assets is 21.96%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 42.90% and liquidity/assets is 38.81%, above the examined MSCI limits; receivables-plus-cash/assets is 21.96%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 42.90% and liquidity/assets is 38.81%, above the examined Malaysia limits. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; asset-based debt screening already fails.
Business-activity disclosure
Five9 provides cloud contact-center, AI-assisted agent and automation software. The core SaaS activity is generally permissible, while customer-use allocation remains qualitative.
Limitation: The filing does not provide a universal prohibited-revenue numerator or a pure gross interest-income numerator.
Purification
The filing combines interest income with other income; no pure gross non-compliant-income numerator or fixed scholar-approved purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Five9's March 31, 2026 Form 10-Q for the three months ended that date.
- Debt combines $736.370 million convertible senior notes, $51.665 million operating-lease liabilities and $12.276 million finance-lease liabilities.
- Cash is $273.011 million, marketable investments are $450.865 million and net accounts receivable is $136.541 million.
- The filing reports a combined $5.212 million interest-income-and-other line; it is not treated as a pure gross interest-income numerator.
- Cloud contact-center software is generally permissible, but no universal prohibited-revenue numerator is asserted.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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