Here’s Voss Capital’s Investment Thesis on its Long Position Five9 (FIVN)

Voss Capital, LLC, an investment management company, released its second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned +1.0% and +0.6% to investors net of fees and expenses respectively, in the second quarter compared to a +8.5% return for the Russell 2000 Index, +5.0% return for the Russell 2000 Value Index, and +10.9% return for the S&P 500 Index. The Voss Value Master Fund’s total gross exposure stood at 165.6% and the net long exposure was 68.9% as of June 30,...