- Revenue of $114.0 million, up 13% year-over-year, driven by the
integration of Hearsay Systems
- GAAP Net loss of $12.8 million, or $0.10 per share, basic, and
inclusive of costs associated with the completion of the
acquisition of Hearsay Systems
- Non-GAAP net income of $15.6 million, or $0.12 per share,
basic, and Adjusted EBITDA of $23.1 million
- Total ARR increased to $441.8 million
- Full-year outlook updated to $420.3 million to $420.8 million
of Revenue and $67.0 million to $67.5 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 October 31, 2024, or the Company's third quarter
of fiscal year 2025.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241209740722/en/
(Graphic: Yext)
For more detailed information on the Company's operating and
financial results for the third quarter fiscal 2025, as well as the
Company's outlook for its fourth quarter and fiscal year 2025,
please reference the Letter to Shareholders on its Investor
Relations website at investors.yext.com.
“Our fiscal third quarter results demonstrate our continued
ability to drive operating efficiencies, make significant margin
improvements and generate bottom-line growth,” said Mike Walrath,
Yext Chairman and CEO. “We are pleased with our progress in
integrating Hearsay Systems and have rolled out enhanced social
capabilities to our combined customer base. We are seeing increased
interest in our platform in a rapidly evolving environment where
fragmented search and generative AI are increasingly top of mind,
and we remain confident that our overall top-line growth will
accelerate over the long term as we help our customers navigate the
complexity of this environment.”
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 1137113.
A replay will be available domestically at (877) 344-7529 or
internationally at (412) 317-0088, passcode 8655569, until midnight
(ET) December 16, 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 fourth 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"); and 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. 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 or acquire 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 and related 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. Any ARR obtained through merger and acquisition
transactions does not affect the dollar-based net retention rate
until one year from the date on which the transaction closed. 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)
October 31, 2024
January 31, 2024
Assets
Current assets:
Cash and cash equivalents
$
100,484
$
210,184
Restricted cash, current
11,671
—
Accounts receivable, net of allowances of
$1,468 and $1,013, respectively
57,778
108,198
Prepaid expenses and other current
assets
17,353
14,849
Costs to obtain revenue contracts,
current
21,447
26,680
Total current assets
208,733
359,911
Property and equipment, net
42,246
48,542
Operating lease right-of-use assets
70,124
75,989
Restricted cash, non-current
5,850
—
Costs to obtain revenue contracts,
non-current
11,649
16,710
Goodwill
105,020
4,478
Intangible assets, net
87,986
168
Other long term assets
8,735
3,012
Total assets
$
540,343
$
508,810
Liabilities and stockholders’
equity
Current liabilities:
Accounts payable, accrued expenses and
other current liabilities
$
62,111
$
38,766
Unearned revenue, current
160,855
212,210
Operating lease liabilities, current
18,380
16,798
Total current liabilities
241,346
267,774
Operating lease liabilities,
non-current
80,293
89,562
Contingent consideration, non-current
40,107
—
Other long term liabilities
18,635
4,300
Total liabilities
380,381
361,636
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value per
share; 50,000,000 shares authorized at October 31, 2024 and January
31, 2024; zero shares issued and outstanding at October 31, 2024
and January 31, 2024
—
—
Common stock, $0.001 par value per share;
500,000,000 shares authorized at October 31, 2024 and January 31,
2024; 152,424,199 and 148,197,347 shares issued at October 31, 2024
and January 31, 2024, respectively; 128,010,487 and 124,867,093
shares outstanding at October 31, 2024 and January 31, 2024,
respectively
152
148
Additional paid-in capital
983,358
942,622
Accumulated other comprehensive loss
(4,501
)
(4,183
)
Accumulated deficit
(699,845
)
(679,172
)
Treasury stock, at cost
(119,202
)
(112,241
)
Total stockholders’ equity
159,962
147,174
Total liabilities and stockholders’
equity
$
540,343
$
508,810
YEXT, INC.
Condensed Consolidated
Statements of Operations and Comprehensive Loss
(In thousands, except share
and per share data)
(Unaudited)
Three months ended October
31,
Nine months ended October
31,
2024
2023
2024
2023
Revenue
$
113,989
$
101,164
$
307,866
$
303,215
Cost of revenue
26,247
22,066
70,086
65,809
Gross profit
87,742
79,098
237,780
237,406
Operating expenses:
Sales and marketing
43,667
45,355
128,878
136,942
Research and development
21,070
18,291
56,709
53,934
General and administrative
33,373
17,233
75,553
53,774
Total operating expenses
98,110
80,879
261,140
244,650
Loss from operations
(10,368
)
(1,781
)
(23,360
)
(7,244
)
Interest income
823
1,922
5,578
5,296
Interest expense
(222
)
(173
)
(738
)
(334
)
Other expense, net
(55
)
(70
)
(397
)
(687
)
Loss from operations before income
taxes
(9,822
)
(102
)
(18,917
)
(2,969
)
Provision for income taxes
(2,977
)
(366
)
(1,756
)
(1,348
)
Net loss
$
(12,799
)
$
(468
)
$
(20,673
)
$
(4,317
)
Net loss per share attributable to common
stockholders, basic and diluted
$
(0.10
)
$
—
$
(0.16
)
$
(0.03
)
Weighted-average number of shares used in
computing net loss per share attributable to common stockholders,
basic and diluted
128,036,993
124,239,180
126,668,394
123,962,358
Other comprehensive (loss) income:
Foreign currency translation
adjustment
$
(144
)
$
(876
)
$
(324
)
$
(722
)
Unrealized gain on marketable securities,
net
2
16
6
4
Total comprehensive loss
$
(12,941
)
$
(1,328
)
$
(20,991
)
$
(5,035
)
YEXT, INC.
Condensed Consolidated
Statements of Cash Flows
(In thousands)
(Unaudited)
Nine months ended October
31,
2024
2023
Operating activities:
Net loss
$
(20,673
)
$
(4,317
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization expense
12,101
12,625
Bad debt expense
1,017
589
Stock-based compensation expense
37,091
34,335
Amortization of operating lease
right-of-use assets
6,471
6,739
Adjustments to contingent
consideration
607
—
Other, net
(751
)
351
Changes in operating assets and
liabilities, net of assets acquired and liabilities assumed in a
business acquisition:
Accounts receivable
55,285
57,251
Prepaid expenses and other current
assets
(74
)
(2,738
)
Costs to obtain revenue contracts
10,476
9,054
Other long term assets
256
542
Accounts payable, accrued expenses and
other current liabilities
7,181
(9,175
)
Unearned revenue
(89,117
)
(78,434
)
Operating lease liabilities
(8,312
)
(8,892
)
Other long term liabilities
307
207
Net cash provided by operating
activities
11,865
18,137
Investing activities:
Capital expenditures
(1,769
)
(2,320
)
Cash paid in acquisition, net of cash
acquired
(89,407
)
—
Net cash used in investing activities
(91,176
)
(2,320
)
Financing activities:
Proceeds from exercise of stock
options
1,137
8,770
Repurchase of common stock
(6,760
)
(23,086
)
Payments for taxes related to net share
settlement of stock-based compensation awards
(9,031
)
(10,718
)
Payments of deferred financing costs
(777
)
(394
)
Proceeds, net from employee stock purchase
plan withholdings
2,218
2,546
Net cash used in financing activities
(13,213
)
(22,882
)
Effect of exchange rate changes on cash,
cash equivalents and restricted cash
345
(993
)
Net decrease in cash, cash equivalents and
restricted cash
(92,179
)
(8,058
)
Cash, cash equivalents and restricted cash
at beginning of period
210,184
190,214
Cash, cash equivalents and restricted cash
at end of period
$
118,005
$
182,156
Supplemental reconciliation of cash, cash
equivalents and restricted cash reported within the condensed
consolidated balance sheets:
Nine months ended October
31,
(in thousands)
2024
2023
Cash and cash equivalents
$
100,484
$
182,156
Restricted cash, current and
non-current
17,521
—
Total cash, cash equivalents and
restricted cash
$
118,005
$
182,156
YEXT, INC.
Reconciliations of GAAP to
Non-GAAP Financial Measures
(In thousands)
(Unaudited)
Three months ended October
31,
Nine months ended October
31,
2024
2023
2024
2023
GAAP net loss to Adjusted
EBITDA:
GAAP net loss
$
(12,799
)
$
(468
)
$
(20,673
)
$
(4,317
)
Interest (income) expense, net
(601
)
(1,749
)
(4,840
)
(4,962
)
Provision for income taxes
2,977
366
1,756
1,348
Depreciation and amortization
6,287
3,537
12,101
12,625
Other expense (income), net
55
70
397
687
Stock-based compensation expense
12,693
11,758
37,091
34,335
Acquisition-related costs
14,482
—
16,650
—
Adjusted EBITDA
$
23,094
$
13,514
$
42,482
$
39,716
GAAP net loss as a percentage of
revenue
(11.2
)%
(0.5
)%
(6.7
)%
(1.4
)%
Adjusted EBITDA margin
20.3
%
13.4
%
13.8
%
13.1
%
__________________ 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 October
31,
2024
2023
GAAP net loss
$
(12,799
)
$
(468
)
Plus: Stock-based compensation expense
12,693
11,758
Plus: Acquisition-related costs
14,482
—
Plus: Amortization of acquired
intangibles
3,465
—
Less: Tax adjustment(1)
(2,226
)
—
Non-GAAP net income
$
15,615
$
11,290
GAAP net loss as a percentage of
revenue
(11.2
)%
(0.5
)%
Non-GAAP net income as a percentage of
revenue
13.7
%
11.2
%
GAAP net loss per share attributable to
common stockholders, basic
$
(0.10
)
$
—
Non-GAAP net income per share attributable
to common stockholders, basic
$
0.12
$
0.09
GAAP net loss per share attributable to
common stockholders, diluted
$
(0.10
)
$
—
Non-GAAP net income per share attributable
to common stockholders, diluted
$
0.12
$
0.09
Weighted-average number of shares used in
computing GAAP net loss per share attributable to common
stockholders
Basic
128,036,993
124,239,180
Diluted
128,036,993
124,239,180
Weighted-average number of shares used in
computing non-GAAP net income per share attributable to common
stockholders
Basic
128,036,993
124,239,180
Diluted
130,351,066
126,733,610
(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)
Nine months ended October
31,
2024
2023
GAAP net loss
$
(20,673
)
$
(4,317
)
Plus: Stock-based compensation expense
37,091
34,335
Plus: Acquisition-related costs
16,650
—
Plus: Amortization of acquired
intangibles
3,465
—
Less: Tax adjustment(1)
(7,816
)
—
Non-GAAP net income
$
28,717
$
30,018
GAAP net loss as a percentage of
revenue
(6.7
)%
(1.4
)%
Non-GAAP net income as a percentage of
revenue
9.3
%
9.9
%
GAAP net loss per share attributable to
common stockholders, basic
$
(0.16
)
$
(0.03
)
Non-GAAP net income per share attributable
to common stockholders, basic
$
0.23
$
0.24
GAAP net loss per share attributable to
common stockholders, diluted
$
(0.16
)
$
(0.03
)
Non-GAAP net income per share attributable
to common stockholders, diluted
$
0.22
$
0.23
Weighted-average number of shares used in
computing GAAP net loss per share attributable to common
stockholders
Basic
126,668,394
123,962,358
Diluted
126,668,394
123,962,358
Weighted-average number of shares used in
computing non-GAAP net income per share attributable to common
stockholders
Basic
126,668,394
123,962,358
Diluted
127,976,060
127,808,283
(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)
October 31,
Variance
2024
2023
Dollars
Percent
Annual Recurring
Revenue
Direct Customers
$
374,502
$
326,625
$
47,877
15
%
Third-Party Reseller Customers
67,293
70,201
(2,908
)
(4
)%
Total Annual Recurring Revenue
$
441,795
$
396,826
$
44,969
11
%
Oct. 31, 2024
Jul. 31, 2024
Apr. 30, 2024
Jan. 31, 2024
Oct. 31, 2023
Annual Recurring
Revenue Trend
Direct Customers
$
374,502
$
313,392
$
312,060
$
315,594
$
326,625
Third-Party Reseller Customers
67,293
68,361
70,528
71,784
70,201
Total Annual Recurring Revenue
$
441,795
$
381,753
$
382,588
$
387,378
$
396,826
Oct. 31, 2024
Jul. 31, 2024
Apr. 30, 2024
Jan. 31, 2024
Oct. 31, 2023
Dollar-Based Net
Retention Rate
Direct Customers
91%
91%
91%
91%
97%
Third-Party Reseller Customers
93%
94%
94%
95%
95%
Total Customers
91%
91%
91%
92%
96%
___________________
Note: Numbers rounded for presentation
purposes and may not sum.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241209740722/en/
Investor Relations: IR@yext.com
Public Relations: PR@yext.com
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