- Revenue of $97.9 million
- Net loss of $4.1 million, or $0.03 per share, basic
- Non-GAAP net income of $6.8 million, or $0.05 per share,
basic
- Adjusted EBITDA of $9.8 million
- Direct ARR of $313.4 million, up slightly compared to $312.1
million at the end of first quarter fiscal 2025
- Full-year outlook adjusted to $420.0 million to $421.0 million
of Revenue and $66.0 million to $67.0 million of Adjusted
EBITDA
Yext, Inc. (NYSE: YEXT), the leading digital presence platform
for multi-location brands, today announced its results for the
three months ended July 31, 2024, or the Company's second quarter
of fiscal year 2025.
For more detailed information on the Company's operating and
financial results for the second quarter fiscal 2025, as well as
the Company's outlook for its third quarter and fiscal year 2025,
please reference the Letter to Shareholders on its Investor
Relations website at investors.yext.com.
"Our second quarter results delivered significant margin
expansion due to our continued focus on operating efficiency,
positioning us for growing profitability," said Yext CEO and Chair
of the Board, Michael Walrath. "We continue to execute against our
strategic initiatives and strengthen Yext for the long term. During
the quarter, we worked towards closing our acquisition of Hearsay
Systems, which we completed on August 1, and the integration of
Hearsay's solutions extends our market leadership. As the only
end-to-end digital presence platform in the market, we believe we
are uniquely capable of leveraging our combined capabilities to
accelerate the pace of innovation and deliver additional value to
our customers and partners."
Readers are encouraged to review the tables labeled
"Reconciliation of GAAP to Non-GAAP Financial Measures" at the end
of this release.
Conference Call
Information
Yext will host a conference call today at 5:00 P.M. Eastern Time
(2:00 P.M. Pacific Time) to discuss its financial results with the
investment community. A live webcast of the call will be available
on the Yext Investor Relations website at
http://investors.yext.com. To participate in the live call by
phone, the dial-in is available domestically at (877) 883-0383 and
internationally at (412) 902-6506, passcode 4416497.
A replay will be available domestically at (877) 344-7529 or
internationally at (412) 317-0088, passcode 9107262, until midnight
(ET) September 11, 2024.
About Yext
Yext (NYSE: YEXT) is the leading digital presence platform for
multi-location brands, with thousands of customers worldwide. With
one central platform, brands can seamlessly deliver consistent,
accurate, and engaging experiences and meaningfully connect with
customers anywhere in the digital world. Yext’s AI and machine
learning technology powers the knowledge behind every customer
engagement, automates workflows at scale, and delivers actionable
cross-channel insights that enable data-driven decisions. From SEO
and websites to social media and reputation management, Yext
enables brands to turn their digital presence into a
differentiator.
Statement Regarding Forward-Looking
Information
This release and the related shareholder letter and conference
call include forward-looking statements including, but not limited
to, statements regarding our revenue, non-GAAP net income (loss),
shares outstanding and Adjusted EBITDA for our third quarter and
full year fiscal 2025 and general expectations beyond that fiscal
year; statements regarding the expected effects of our acquisition
and integration of Hearsay Social, Inc. ("Hearsay"); statements
regarding our expectations regarding the growth of our company, our
market opportunity, product roadmap, sales efficiency efforts, cost
saving actions, and our industry as well as the same for our
acquisition and integration of Hearsay; and the expected effects of
our acquisition of Hearsay. In some cases, you can identify
forward-looking statements by terminology such as "may," "will,"
"should," "could," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "intend," "potential," "might," "would,"
"continue," or the negative of these terms or other comparable
terminology. Actual events or results may differ from those
expressed in these forward-looking statements, and these
differences may be material and adverse.
We have based the forward-looking statements contained in this
release and discussed on the call primarily on our current
expectations and projections about future events and trends that we
believe may affect our business, financial condition, results of
operations, strategy, short- and long-term business operations,
prospects, business strategy and financial needs. Our actual
results could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including,
but not limited to, our ability to renew and expand subscriptions
with existing customers, especially enterprise customers, and
attract new customers generally; our ability to successfully expand
and compete in new geographies and industry verticals; our ability
to integrate Hearsay's business with ours; our ability to retain
personnel necessary for the success of our acquisition and
integration of Hearsay; the quality of our sales pipeline and our
ability to convert leads; our ability to expand and scale our sales
force; our ability to expand our service and application provider
network; our ability to develop new product and platform offerings
to expand our market opportunity, our ability to release new
products and updates that are adopted by our customers; our ability
to manage our growth effectively; weakened or changing global
economic conditions, downturns, or uncertainty, including higher
inflation, higher interest rates, and fluctuations or volatility in
capital markets or foreign currency exchange rates; the number of
options exercised by our employees and former employees; and the
accuracy of the assumptions and estimates underlying our financial
projections. Moreover, we operate in a very competitive and rapidly
changing environment. New risks and uncertainties emerge from time
to time, and it is not possible for us to predict all risks and
uncertainties that could have an impact on the forward-looking
statements contained in this release. We cannot assure you that the
results, events and circumstances reflected in the forward-looking
statements will be achieved or occur, and actual results, events or
circumstances could differ materially from those described in the
forward-looking statements. All written and oral forward-looking
statements attributable to us, or persons acting on our behalf, are
expressly qualified in their entirety by these cautionary
statements as well as other cautionary statements that are made
from time to time in our SEC filings and public communications,
including, without limitation, in the sections titled, “Special
Note Regarding Forward Looking Statements” and “Risk Factors” in
our most recent Annual Report on Form 10-K and Quarterly Report on
Form 10-Q, which are available at http://investors.yext.com and on
the SEC's website at https://www.sec.gov.
The forward-looking statements made in this release relate only
to events as of the date on which such statements are made. We
undertake no obligation to update any forward-looking statements
after the date hereof or to conform such statements to actual
results or revised expectations, except as required by law.
Non-GAAP Measurements
In addition to disclosing financial measures prepared in
accordance with U.S. generally accepted accounting principles
("GAAP"), this release and the accompanying tables include non-GAAP
net income (loss), non-GAAP net income (loss) per share, and
non-GAAP net income (loss) as a percentage of revenue, which are
referred to as non-GAAP financial measures.
These non-GAAP financial measures are not calculated in
accordance with GAAP as they have been adjusted to exclude the
effects of stock-based compensation expenses, acquisition-related
costs, and amortization of acquired intangibles.
Acquisition-related costs include transaction costs, subsequent
fair value movements in contingent consideration, and compensation
arrangements. Non-GAAP net income (loss) as a percentage of revenue
is calculated by dividing the applicable non-GAAP financial measure
by revenue. Non-GAAP net income (loss) per share is defined as
non-GAAP net income (loss) on a per share basis. We define non-GAAP
net income (loss) per share, basic, as non-GAAP net income (loss)
divided by weighted average shares outstanding and non-GAAP net
income (loss) per share, diluted, as non-GAAP net income (loss)
divided by weighted average diluted shares outstanding, which
includes the potentially dilutive effect of the company’s employee
equity incentive awards.
In addition, beginning in fiscal 2025, we are utilizing a
projected tax rate of 25% in our computation of the non-GAAP income
tax provision. Our estimated tax rate on non-GAAP income is
determined annually and may be adjusted during the year to take
into account events or trends that we believe materially impact the
estimated annual rate including, but not limited to, significant
changes resulting from tax legislation, material changes in the
geographic mix of revenue and expenses and other significant
events. Our estimated tax rate on non-GAAP income may differ from
our GAAP tax rate and from our actual tax liabilities.
We believe these non-GAAP financial measures provide investors
and other users of our financial information consistency and
comparability with our past financial performance and facilitate
period-to-period comparisons of our results of operations. With
respect to non-GAAP net income (loss) as a percentage of revenue,
we believe this non-GAAP financial measure is useful in evaluating
our profitability relative to the amount of revenue generated,
excluding the impact of stock-based compensation expense,
acquisition-related costs, and amortization of acquired
intangibles. We also believe non-GAAP financial measures are useful
in evaluating our operating performance compared to that of other
companies in our industry, as these metrics eliminate the effects
of stock-based compensation and certain acquisition-related costs,
which may vary for reasons unrelated to overall operating
performance.
We also discuss Adjusted EBITDA and Adjusted EBITDA margin,
non-GAAP financial measures that we believe offer a useful view of
overall operations used to assess the performance of core business
operations and for planning purposes. We define Adjusted EBITDA as
GAAP net income (loss) before (1) interest income (expense), net,
(2) benefit from (provision for) income taxes, (3) depreciation and
amortization, (4) other income (expense), net, (5) stock-based
compensation expense, and (6) acquisition-related costs. The most
directly comparable GAAP financial measure to Adjusted EBITDA is
GAAP net income (loss). Users should consider the limitations of
using Adjusted EBITDA, including the fact that this measure does
not provide a complete measure of our operating performance.
Adjusted EBITDA is not intended to purport to be an alternate to
GAAP net income (loss) as a measure of operating performance.
Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by
revenue.
Beginning with the three months ended July 31, 2024, we revised
our definitions of Non-GAAP net income (loss) and Adjusted EBITDA
to adjust for the effects of certain acquisition-related costs
prompted by our recent acquisition of Hearsay. We believe these
changes provide investors with a view of continuing core operations
without the effects of unusual activity specific to
acquisition-related accounting. These adjustments do not omit or
adjust for the inclusion of ongoing operations of acquisitions.
We have recast our results on the same basis for the prior
comparative periods presented, although the effects in those
periods remain unchanged, as no such acquisition-related activity
had occurred.
We use these non-GAAP financial measures in conjunction with
traditional GAAP measures as part of our overall assessment of our
performance, including the preparation of our annual operating
budget and quarterly forecasts, and to evaluate the effectiveness
of our business strategies. Our definition may differ from the
definitions used by other companies and therefore comparability may
be limited. In addition, other companies may not publish these or
similar metrics. Thus, our non-GAAP financial measures should be
considered in addition to, not as a substitute for, nor superior to
or in isolation from, measures prepared in accordance with
GAAP.
These non-GAAP financial measures may be limited in their
usefulness because they do not present the full economic effect of
our use of stock-based compensation and certain acquisition-related
costs. We compensate for these limitations by providing investors
and other users of our financial information a reconciliation of
the non-GAAP financial measure to the most closely related GAAP
financial measures. However, we have not reconciled the non-GAAP
guidance measures (i.e., "Financial Outlook") to their
corresponding GAAP measures because certain reconciling items such
as stock-based compensation, certain acquisition-related costs, and
the corresponding provision for income taxes depend on factors such
as the stock price at the time of award of future grants, and
certain purchase accounting adjustments including subsequent
measurements, among others, and thus cannot be reasonably
predicted. Accordingly, reconciliations to the non-GAAP guidance
measures is not available without unreasonable effort. We encourage
investors and others to review our financial information in its
entirety, not to rely on any single financial measure and to view
non-GAAP net income (loss) and non-GAAP net income (loss) per share
in conjunction with GAAP net income (loss) and net income (loss)
per share.
We have not reconciled our forward-looking Adjusted EBITDA to
its most directly comparable GAAP financial measure of net income
(loss). Information on which this reconciliation would be based on
is not available without unreasonable efforts due to the
uncertainty and inherent difficulty of predicting within a
reasonable range, the timing, occurrence and financial impact of
when such items may be recognized. In particular, Adjusted EBITDA
excludes certain items including interest income (expense), net,
provision for income taxes, depreciation and amortization, other
income (expense), net, stock-based compensation expense, and
acquisition-related costs.
Operating Metrics
This release also includes certain operating metrics that we
believe are useful in providing additional information in assessing
the overall performance of our business.
Annual recurring revenue, or ARR, for Direct customers is
defined as the annualized recurring amount of all contracts in our
enterprise, mid-size and small business customer base as of the
last day of the reporting period. The recurring amount of a
contract is determined based upon the terms of a contract and is
calculated by dividing the amount of a contract by the term of the
contract and then annualizing such amount. The calculation assumes
no subsequent changes to the existing subscription. Contracts
include portions of professional services contracts that are
recurring in nature.
ARR for Third-party Reseller customers is defined as the
annualized recurring amount of all contracts with Third-party
Reseller customers as of the last day of the reporting period. The
recurring amount of a contract is determined based upon the terms
of a contract and is calculated by dividing the amount of a
contract by the term of the contract and then annualizing such
amount. The calculation assumes no subsequent changes to the
existing subscription. The calculation includes the annualized
contractual minimum commitment and excludes amounts related to
overages above the contractual minimum commitment. Contracts
include portions of professional services contracts that are
recurring in nature.
Total ARR is defined as the annualized recurring amount of all
contracts executed as of the last day of the reporting period. The
recurring amount of a contract is determined based upon the terms
of a contract and is calculated by dividing the amount of a
contract by the term of the contract and then annualizing such
amount. The calculation assumes no subsequent changes to the
existing subscription, and where relevant, includes the annualized
contractual minimum commitment and excludes amounts related to
overages above the contractual minimum commitment. Contracts
include portions of professional services contracts that are
recurring in nature.
ARR is independent of historical revenue, unearned revenue,
remaining performance obligations or any other GAAP financial
measure over any period. It should be considered in addition to,
not as a substitute for, nor superior to or in isolation from,
these measures and other measures prepared in accordance with GAAP.
We believe ARR-based metrics provides insight into the performance
of our recurring revenue business model while mitigating
fluctuations in billing and contract terms.
Dollar-based net retention rate is a metric we use to assess our
ability to retain our customers and expand the ARR they generate
for us. We calculate dollar-based net retention rate by first
determining the ARR generated 12 months prior to the end of the
current period for a cohort of customers who had active contracts
at that time. We then calculate ARR from the same cohort of
customers at the end of the current period, which includes customer
expansion, contraction and churn. The current period ARR is then
divided by the prior period ARR to arrive at our dollar-based net
retention rate. The cohorts of customers that we present
dollar-based net retention rate for include direct, third-party
reseller, and total customers. Direct customers include enterprise,
mid-size and small business customers.
YEXT, INC.
Condensed Consolidated Balance
Sheets
(In thousands, except share
and per share data)
(Unaudited)
July 31, 2024
January 31, 2024
Assets
Current assets:
Cash and cash equivalents
$
234,823
$
210,184
Accounts receivable, net of allowances of
$926 and $1,013, respectively
45,870
108,198
Prepaid expenses and other current
assets
18,312
14,849
Costs to obtain revenue contracts,
current
23,048
26,680
Total current assets
322,053
359,911
Property and equipment, net
44,037
48,542
Operating lease right-of-use assets
71,872
75,989
Costs to obtain revenue contracts,
non-current
12,793
16,710
Goodwill
4,478
4,478
Intangible assets, net
156
168
Other long term assets
2,815
3,012
Total assets
$
458,204
$
508,810
Liabilities and stockholders’
equity
Current liabilities:
Accounts payable, accrued expenses and
other current liabilities
$
33,740
$
38,766
Unearned revenue, current
156,194
212,210
Operating lease liabilities, current
17,574
16,798
Total current liabilities
207,508
267,774
Operating lease liabilities,
non-current
83,201
89,562
Other long term liabilities
4,692
4,300
Total liabilities
295,401
361,636
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value per
share; 50,000,000 shares authorized at July 31, 2024 and January
31, 2024; zero shares issued and outstanding at July 31, 2024 and
January 31, 2024
—
—
Common stock, $0.001 par value per share;
500,000,000 shares authorized at July 31, 2024 and January 31,
2024; 150,518,464 and 148,197,347 shares issued at July 31, 2024
and January 31, 2024, respectively; 127,144,940 and 124,867,093
shares outstanding at July 31, 2024 and January 31, 2024,
respectively
150
148
Additional paid-in capital
966,550
942,622
Accumulated other comprehensive loss
(4,359
)
(4,183
)
Accumulated deficit
(687,046
)
(679,172
)
Treasury stock, at cost
(112,492
)
(112,241
)
Total stockholders’ equity
162,803
147,174
Total liabilities and stockholders’
equity
$
458,204
$
508,810
YEXT, INC.
Condensed Consolidated
Statements of Operations and Comprehensive Loss
(In thousands, except share
and per share data)
(Unaudited)
Three months ended July
31,
Six months ended July
31,
2024
2023
2024
2023
Revenue
$
97,887
$
102,598
$
193,877
$
202,051
Cost of revenue
22,293
22,393
43,839
43,743
Gross profit
75,594
80,205
150,038
158,308
Operating expenses:
Sales and marketing
41,957
47,591
85,211
91,587
Research and development
18,580
18,890
35,639
35,643
General and administrative
22,623
17,955
42,180
36,541
Total operating expenses
83,160
84,436
163,030
163,771
Loss from operations
(7,566
)
(4,231
)
(12,992
)
(5,463
)
Interest income
2,395
1,840
4,755
3,374
Interest expense
(124
)
(88
)
(516
)
(161
)
Other expense, net
(204
)
(297
)
(342
)
(617
)
Loss from operations before income
taxes
(5,499
)
(2,776
)
(9,095
)
(2,867
)
Benefit from (provision for) income
taxes
1,442
(661
)
1,221
(982
)
Net loss
$
(4,057
)
$
(3,437
)
$
(7,874
)
$
(3,849
)
Net loss per share attributable to common
stockholders, basic and diluted
$
(0.03
)
$
(0.03
)
$
(0.06
)
$
(0.03
)
Weighted-average number of shares used in
computing net loss per share attributable to common stockholders,
basic and diluted
126,535,481
124,358,526
125,967,631
123,821,653
Other comprehensive (loss) income:
Foreign currency translation
adjustment
$
237
$
(196
)
$
(180
)
$
154
Unrealized gain (loss) on marketable
securities, net
12
(8
)
4
(12
)
Total comprehensive loss
$
(3,808
)
$
(3,641
)
$
(8,050
)
$
(3,707
)
YEXT, INC.
Condensed Consolidated
Statements of Cash Flows
(In thousands)
(Unaudited)
Six months ended July
31,
2024
2023
Operating activities:
Net loss
$
(7,874
)
$
(3,849
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization expense
5,814
9,089
Bad debt expense
363
602
Stock-based compensation expense
24,398
22,577
Amortization of operating lease
right-of-use assets
4,265
4,611
Other, net
481
184
Changes in operating assets and
liabilities:
Accounts receivable
62,021
54,943
Prepaid expenses and other current
assets
(3,231
)
(538
)
Costs to obtain revenue contracts
7,619
6,554
Other long term assets
215
726
Accounts payable, accrued expenses and
other current liabilities
(4,649
)
(14,158
)
Unearned revenue
(56,370
)
(55,324
)
Operating lease liabilities
(5,742
)
(5,848
)
Other long term liabilities
350
141
Net cash provided by operating
activities
27,660
19,710
Investing activities:
Capital expenditures
(1,192
)
(1,567
)
Net cash used in investing activities
(1,192
)
(1,567
)
Financing activities:
Proceeds from exercise of stock
options
791
8,610
Repurchase of common stock
(201
)
(10,996
)
Payments for taxes related to net share
settlement of stock-based compensation awards
(3,781
)
(7,750
)
Payments of deferred financing costs
(659
)
(301
)
Proceeds, net from employee stock purchase
plan withholdings
1,842
2,176
Net cash used in financing activities
(2,008
)
(8,261
)
Effect of exchange rate changes on cash
and cash equivalents
179
431
Net increase in cash and cash
equivalents
24,639
10,313
Cash and cash equivalents at beginning of
period
210,184
190,214
Cash and cash equivalents at end of
period
$
234,823
$
200,527
YEXT, INC.
Reconciliations of GAAP to
Non-GAAP Financial Measures
(In thousands)
(Unaudited)
Three months ended July
31,
Six months ended July
31,
2024
2023
2024
2023
GAAP net loss to Adjusted
EBITDA:
GAAP net loss
$
(4,057
)
$
(3,437
)
$
(7,874
)
$
(3,849
)
Interest (income) expense, net
(2,271
)
(1,752
)
(4,239
)
(3,213
)
(Benefit from) provision for income
taxes
(1,442
)
661
(1,221
)
982
Depreciation and amortization
2,851
4,420
5,814
9,089
Other expense (income), net
204
297
342
617
Stock-based compensation expense
12,333
11,565
24,398
22,577
Acquisition-related costs
2,169
—
2,169
—
Adjusted EBITDA
$
9,787
$
11,754
$
19,389
$
26,203
GAAP net loss as a percentage of
revenue
(4.1
)%
(3.3
)%
(4.1
)%
(1.9
)%
Adjusted EBITDA margin
10.0
%
11.5
%
10.0
%
13.0
%
______________
Note: Numbers rounded for presentation
purposes and may not sum.
YEXT, INC.
Reconciliation of GAAP to
Non-GAAP Financial Measures
(In thousands, except share
and per share data)
(Unaudited)
Three months ended July
31,
2024
2023
GAAP net loss
$
(4,057
)
$
(3,437
)
Plus: Stock-based compensation expense
12,333
11,565
Plus: Acquisition-related costs
2,169
—
Plus: Amortization of acquired
intangibles
—
—
Less: Tax adjustment(1)
(3,693
)
—
Non-GAAP net income
$
6,752
$
8,128
GAAP net loss per share attributable to
common stockholders, basic
$
(0.03
)
$
(0.03
)
Non-GAAP net income per share attributable
to common stockholders, basic
$
0.05
$
0.07
GAAP net loss per share attributable to
common stockholders, diluted
$
(0.03
)
$
(0.03
)
Non-GAAP net income per share attributable
to common stockholders, diluted
$
0.05
$
0.06
Weighted-average number of shares used in
computing GAAP net loss per share attributable to common
stockholders
Basic
126,535,481
124,358,526
Diluted
126,535,481
124,358,526
Weighted-average number of shares used in
computing non-GAAP net income per share attributable to common
stockholders
Basic
126,535,481
124,358,526
Diluted
127,398,986
129,055,719
Three months ended July
31,
2024
2023
GAAP net loss as a percentage of
revenue
(4.1
)%
(3.3
)%
Plus: Stock-based compensation expense
12.6
%
11.2
%
Plus: Acquisition-related costs
2.2
%
—
%
Plus: Amortization of acquired
intangibles
—
%
—
%
Less: Tax adjustment(1)
(3.8
)%
—
%
Non-GAAP net income as a percentage of
revenue
6.9
%
7.9
%
(1) Beginning in fiscal 2025, we are
utilizing a projected tax rate of 25% in our computation of the
non-GAAP income tax provision. Our estimated tax rate on non-GAAP
income is determined annually and may be adjusted during the year
to take into account events or trends that we believe materially
impact the estimated annual rate including, but not limited to,
significant changes resulting from tax legislation, material
changes in the geographic mix of revenue and expenses and other
significant events. Our estimated tax rate on non-GAAP income may
differ from our GAAP tax rate and from our actual tax
liabilities.
______________
Note: Numbers rounded for presentation
purposes and may not sum.
YEXT, INC.
Reconciliation of GAAP to
Non-GAAP Financial Measures
(In thousands, except share
and per share data)
(Unaudited)
Six months ended July
31,
2024
2023
GAAP net loss
$
(7,874
)
$
(3,849
)
Plus: Stock-based compensation expense
24,398
22,577
Plus: Acquisition-related costs
2,169
—
Plus: Amortization of acquired
intangibles
—
—
Less: Tax adjustment(1)
(5,589
)
—
Non-GAAP net income
$
13,104
$
18,728
GAAP net loss per share attributable to
common stockholders, basic
$
(0.06
)
$
(0.03
)
Non-GAAP net income per share attributable
to common stockholders, basic
$
0.10
$
0.15
GAAP net loss per share attributable to
common stockholders, diluted
$
(0.06
)
$
(0.03
)
Non-GAAP net income per share attributable
to common stockholders, diluted
$
0.10
$
0.15
Weighted-average number of shares used in
computing GAAP net loss per share attributable to common
stockholders
Basic
125,967,631
123,821,653
Diluted
125,967,631
123,821,653
Weighted-average number of shares used in
computing non-GAAP net income per share attributable to common
stockholders
Basic
125,967,631
123,821,653
Diluted
127,130,771
128,194,669
Six months ended July
31,
2024
2023
GAAP net loss as a percentage of
revenue
(4.1
)%
(1.9
)%
Plus: Stock-based compensation expense
12.7
%
11.2
%
Plus: Acquisition-related costs
1.1
%
—
%
Plus: Amortization of acquired
intangibles
—
%
—
%
Less: Tax adjustment(1)
(2.9
)%
—
%
Non-GAAP net income as a percentage of
revenue
6.8
%
9.3
%
(1) Beginning in fiscal 2025, we are
utilizing a projected tax rate of 25% in our computation of the
non-GAAP income tax provision. Our estimated tax rate on non-GAAP
income is determined annually and may be adjusted during the year
to take into account events or trends that we believe materially
impact the estimated annual rate including, but not limited to,
significant changes resulting from tax legislation, material
changes in the geographic mix of revenue and expenses and other
significant events. Our estimated tax rate on non-GAAP income may
differ from our GAAP tax rate and from our actual tax
liabilities.
______________
Note: Numbers rounded for presentation
purposes and may not sum.
YEXT, INC.
Supplemental
Information
(In thousands)
(Unaudited)
July 31,
Variance
2024
2023
Dollars
Percent
Annual Recurring
Revenue
Direct Customers
$
313,392
$
327,212
$
(13,820
)
(4
)%
Third-Party Reseller Customers
68,361
70,502
(2,141
)
(3
)%
Total Annual Recurring Revenue
$
381,753
$
397,714
$
(15,961
)
(4
)%
Jul. 31, 2024
Apr. 30, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Annual Recurring
Revenue Trend
Direct Customers
$
313,392
$
312,060
$
315,594
$
326,625
$
327,212
Third-Party Reseller Customers
68,361
70,528
71,784
70,201
70,502
Total Annual Recurring Revenue
$
381,753
$
382,588
$
387,378
$
396,826
$
397,714
Jul. 31, 2024
Apr. 30, 2024
Jan. 31, 2024
Oct. 31, 2023
Jul. 31, 2023
Dollar-Based Net
Retention Rate
Direct Customers
91%
91%
91%
97%
98%
Third-Party Reseller Customers
94%
94%
95%
95%
92%
Total Customers
91%
91%
92%
96%
97%
__________________
Note: Numbers rounded for presentation
purposes and may not sum.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240904094004/en/
For Further Information
Contact: Investor Relations: IR@yext.com Public
Relations: PR@yext.com
Grafico Azioni Yext (NYSE:YEXT)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Yext (NYSE:YEXT)
Storico
Da Gen 2024 a Gen 2025
