Shares in Five9 Inc. jumped more than 20% in late trading today after the call center software provider reported third-quarter results and guidance ahead of analyst expectations.

For its fiscal third quarter ended Sept. 30, Five9 reported adjusted earnings per share of 67 cents, up from 52 cents per share in the same quarter of the previous year, on revenue of $264.2 million, up 15% year-over-year. Both were decent beats, as analysts were expecting 59 cents per share on revenue of $255.2 million.

Five9’s solid figures were driven by subscription revenue, which rose 20% year-over-year, with enterprise new logos reaching a third-quarter record. Big spending customers were also up, with customers with $1 million or more in annual recurring revenue now accounting for 56% of Five9’s revenue, up 29% year-over-year.

The company also saw strong growth in artificial intelligence adoption, with AI products comprising over 20% of new enterprise logo annual contract value bookings in the third quarter.

New logo deals that included AI had an average annual recurring revenue over five times larger than deals without AI and AI was attached to all new $1 million-plus annual recurring revenue logo deals in the past year. Additionally, AI installed base bookings grew over 50% year-over-year in the third quarter and AI revenue increased by 40%, driven partly by a 158% year-over-year growth in Agent Assist revenue.

“We believe our AI-powered platform is at the forefront of enabling a hyper-personalized experience, continuous engagement and seamless customer journeys, all while creating a pathway for durable growth,” Mike Burkland, chairman and chief executive of Five9, said in the company’s earnings release. “We are energized by the momentum we are seeing with our AI products and believe that the market opportunity ahead is stronger than ever.”

For its fiscal fourth quarter, Five9 expects adjusted earnings per share of 69 to 71 cents on revenue of $267 million to $268 million. For the full year, the company expects adjusted earnings per share of $2.36 to $2.38 on revenue of $1.03 billion to $1.031 billion. The full-year outlook was revised upward and also came in higher than the $2.27 and $1.015 billion expected by analysts.

Image: Five9