diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index b7ef03e..b681d9a 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "9.4.0"
+  ".": "9.5.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2652629..e503ab9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,23 @@
 
 All notable changes to the LaunchDarkly Python SDK will be documented in this file. This project adheres to [Semantic Versioning](http://semver.org).
 
+## [9.5.0](https://github.com/launchdarkly/python-server-sdk/compare/9.4.0...9.5.0) (2024-07-25)
+
+
+### Features
+
+* Add option to enable event payload compression ([#300](https://github.com/launchdarkly/python-server-sdk/issues/300)) ([87c56c9](https://github.com/launchdarkly/python-server-sdk/commit/87c56c94784ba3ccccd0a2001becbf0dd4e71e30))
+
+
+### Bug Fixes
+
+* Log warning if client init timeout is considered high ([#295](https://github.com/launchdarkly/python-server-sdk/issues/295)) ([08514fe](https://github.com/launchdarkly/python-server-sdk/commit/08514fe5c045985f1751c88b86302a05056b633d))
+
+
+### Documentation
+
+* Fix readthedocs generation ([#292](https://github.com/launchdarkly/python-server-sdk/issues/292)) ([9b9c9df](https://github.com/launchdarkly/python-server-sdk/commit/9b9c9dfd790d9922ee09f9bb4cf563cb9c0c453f))
+
 ## [9.4.0](https://github.com/launchdarkly/python-server-sdk/compare/9.3.1...9.4.0) (2024-04-29)
 
 
diff --git a/PROVENANCE.md b/PROVENANCE.md
index 2873044..a14a755 100644
--- a/PROVENANCE.md
+++ b/PROVENANCE.md
@@ -9,7 +9,7 @@ To verify SLSA provenance attestations, we recommend using [slsa-verifier](https
 <!-- x-release-please-start-version -->
 ```
 # Set the version of the SDK to verify
-SDK_VERSION=9.4.0
+SDK_VERSION=9.5.0
 ```
 <!-- x-release-please-end -->
 
diff --git a/ldclient/version.py b/ldclient/version.py
index d4007bf..a3fe004 100644
--- a/ldclient/version.py
+++ b/ldclient/version.py
@@ -1 +1 @@
-VERSION = "9.4.0" # x-release-please-version
+VERSION = "9.5.0" # x-release-please-version
diff --git a/pyproject.toml b/pyproject.toml
index f51c6dd..a561983 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "launchdarkly-server-sdk"
-version = "9.4.0"
+version = "9.5.0"
 description = "LaunchDarkly SDK for Python"
 authors = ["LaunchDarkly <dev@launchdarkly.com>"]
 license = "Apache-2.0"