Yext (NYSE: YEXT) is a digital experience platform. It helps organizations answer every question about their business. It helps organizations manage their listings on search engines and other online directories, create and manage landing pages for their products, manage their reviews across the website, and more. It serves industries such as financial services, healthcare, food and beverage, and more. It was formerly known as Alpha Creations. The company was founded in 2006 and is based in New York, New York.
Expert Collections containing Yext
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Yext is included in 4 Expert Collections, including Smart Cities.
Market Research & Consumer Insights
This collection is comprised of companies using tech to better identify emerging trends and improve product development. It also includes companies helping brands and retailers conduct market research to learn about target shoppers, like their preferences, habits, and behaviors.
Digital Content & Synthetic Media
The Digital Content collection includes companies that use technology to create, manage, and distribute digital content under all forms, including images, videos, audio, and text, among others.
Yext has filed 47 patents.
Data management, Database management systems, SQL, Web development, Social networking services
Data management, Database management systems, SQL, Web development, Social networking services
Latest Yext News
Dec 5, 2023
Yext Announces Third Quarter Fiscal 2024 Results December 05, 2023 at 04:05 pm EST Share Revenue of $101.2 Million, Increased 2% Year-over-YearNet Loss Per Share of $0.00 or Non-GAAP Earnings Per Share of $0.09, BasicNet Loss of $0.5 Million or Adjusted EBITDA of $13.5 MillionARR of $396.8 Million, Increased 2% Year-over-YearCash and Cash Equivalents of $182.2 Million Yext, Inc. (NYSE: YEXT), a leading digital experience platform, today announced its results for the three months ended October 31, 2023, or the Company's third quarter of fiscal year 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231205134206/en/ (Graphic: Yext) "Our record non-GAAP profitability and strong Q3 adjusted EBITDA illustrate our commitment to driving profitable growth, even in a challenging macroeconomic environment," said Yext CEO and Chair of the Board, Michael Walrath. "We are focused on delivering innovation across our products that will help enterprises increase customer engagement across all channels. We will continue to execute on improving productivity and efficiency with a keen focus on our customers' success as the driver of our future growth." Third Quarter Fiscal 2024 Highlights: Revenue of $101.2 million, a 2% increase, compared to $99.3 million reported in the third quarter fiscal 2023. Third quarter fiscal 2024 revenue included a positive impact of approximately $1.4 million from foreign currency exchange rates on a constant currency basis. Gross Profit of $79.1 million, a 7% increase, compared to $73.6 million reported in the third quarter fiscal 2023. Gross margin of 78.2%, compared to 74.2% reported in the third quarter fiscal 2023. Net Loss and Non-GAAP Net Income: Net loss of $0.5 million, compared to a net loss of $12.3 million in the third quarter fiscal 2023. Non-GAAP net income of $11.3 million, compared to non-GAAP net income of $2.5 million in the third quarter fiscal 2023. Net Loss Per Share and Non-GAAP Net Income Per Share: Net loss per share attributable to common stockholders, basic and diluted, was $0.00 based on 124.2 million weighted average basic and diluted shares outstanding. This compares to net loss per share attributable to common stockholders, basic and diluted, of $0.10 based on 123.5 million weighted average basic and diluted shares outstanding in the third quarter fiscal 2023. Non-GAAP net income per share attributable to common stockholders, basic and diluted, was $0.09 based on 124.2 million weighted average basic shares outstanding and 126.7 million weighted average diluted shares outstanding, respectively. This compares to non-GAAP net income per share attributable to common stockholders, basic and diluted, of $0.02 based on 123.5 million weighted average basic shares outstanding and 124.1 million weighted average diluted shares outstanding, respectively, in the third quarter fiscal 2023. Adjusted EBITDA was $13.5 million, compared to $7.1 million in the third quarter fiscal 2023. Balance Sheet: Cash and cash equivalents of $182.2 million as of October 31, 2023. Unearned revenue of $144.5 million as of October 31, 2023, compared to $153.3 million as of October 31, 2022. Remaining Performance Obligations ("RPO"): RPO of $423.3 million as of October 31, 2023. RPO expected to be recognized over the next 24 months of $358.4 million with the remaining balance expected to be recognized thereafter. RPO does not include amounts under contract subject to certain accounting exclusions. Annual Recurring Revenue ("ARR"): ARR increased 2% year-over-year to $396.8 million as of October 31, 2023, compared to $389.5 million as of October 31, 2022. As of October 31, 2023, ARR included a positive impact of approximately $4.1 million from foreign currency exchange rates on a constant currency basis. Cash Flow: Net cash used in operating activities was $1.6 million for the three months ended October 31, 2023, compared to net cash used in operating activities of $10.8 million for the three months ended October 31, 2022. Share Repurchase Program: As of October 31, 2023, a total of 16,824,920 shares have been purchased for a total cost of $100.3 million since the commencement of the share repurchase program. Readers are encouraged to review the tables labeled "Reconciliation of GAAP to Non-GAAP Financial Measures" at the end of this release. Financial Outlook: Yext is also providing the following guidance for its fourth fiscal quarter ending January 31, 2024 and fiscal year ending January 31, 2024. Fourth Quarter Fiscal 2024 Outlook: Revenue is projected to be in the range of $100.0 to $100.5 million; Adjusted EBITDA is projected to be in the range of $12.0 million to $13.0 million; and Non-GAAP net income per share is projected to be in the range of $0.07 to $0.08, which assumes 124.4 million weighted-average basic shares outstanding. Full Year Fiscal 2024 Outlook: Revenue is projected to be in the range of $403.2 million to $403.7 million; Adjusted EBITDA is projected to be in the range of $51.7 million to $52.7 million; and Non-GAAP net income per share is projected to be in the range of $0.31 to $0.32, which assumes 124.1 million weighted-average basic shares outstanding. 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. A live dial-in is available domestically at (877) 883-0383 and internationally at (412) 902-6506, passcode 8929509. A replay will be available domestically at (877) 344-7529 or internationally at (412) 317-0088, passcode 4919671, until midnight (ET) December 12, 2023. About Yext Yext (NYSE: YEXT) helps organizations build digital experiences across any channel on our open and composable platform. The Yext Digital Experience Platform collects and organizes content to deliver AI-led experiences for any organization’s customers, employees, or partners. For more than 15 years, thousands of companies worldwide have trusted Yext to create seamless customer experiences at scale across search engines, websites, mobile apps, and hundreds of other digital touchpoints. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This release and the related 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 (loss) for our fourth quarter and full year fiscal 2024 in the paragraphs under "Financial Outlook" above, statements regarding our expectations regarding the growth of our company, our market opportunity, product roadmap, sales efficiency efforts and our industry. 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 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 press release and the accompanying tables include non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (sales and marketing, research and development, general and administrative), non-GAAP operating expenses (sales and marketing, research and development, general and administrative) as a percentage of revenue, non-GAAP income (loss) from operations, non-GAAP operating margin, 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. Non-GAAP gross margin, non-GAAP operating expenses (sales and marketing, research and development, general and administrative) as a percentage of revenue, non-GAAP operating margin, and non-GAAP net income (loss) as a percentage of revenue are 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. See the tables labeled "Reconciliation of GAAP to Non-GAAP Financial Measures" for detail on the applicable weighted-average shares outstanding. 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 gross margin, non-GAAP operating expenses (sales and marketing, research and development, general and administrative) as a percentage of revenue, non-GAAP operating margin and non-GAAP net income (loss) as a percentage of revenue, we believe these non-GAAP financial measures are useful in evaluating our profitability relative to the amount of revenue generated, excluding the impact of stock-based compensation expense. 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, which may vary for reasons unrelated to overall operating performance. We also discuss Adjusted EBITDA (loss), a non-GAAP financial measure that we believe offers a useful view of overall operations used to assess the performance of core business operations and for planning purposes. We define Adjusted EBITDA (loss) as net income (loss) before (1) interest income (expense), net, (2) provision for income taxes, (3) depreciation and amortization, (4) other income (expense), net, and (5) stock-based compensation expense. The most directly comparable GAAP financial measure to Adjusted EBITDA (loss) is GAAP net income (loss). Users should consider the limitations of using Adjusted EBITDA (loss), including the fact that this measure does not provide a complete measure of our operating performance. Adjusted EBITDA (loss) is not intended to purport to be an alternate to GAAP net income (loss) as a measure of operating performance. In addition, we present non-GAAP constant currency measures of revenue. Constant currency as it relates to revenue provides a framework for assessing Company performance which excludes the effect of foreign currency rate fluctuations. Current period results for entities reporting in currencies other than U.S. Dollars (“USD”) are converted into USD at the average monthly exchange rates in effect during the comparative period, as opposed to the average monthly exchange rates in effect during the current period. 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. 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 disclosed under "Financial Outlook" to their corresponding GAAP measures because certain reconciling items such as stock-based compensation and the corresponding provision for income taxes depend on factors such as the stock price at the time of award of future grants 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 (loss) 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 (loss) excludes certain items including interest income (expense), net, provision for income taxes, depreciation and amortization, other income (expense), net, and stock-based compensation expense. Operating Metrics This press release and the related conference call also include certain operating metrics that we believe are useful in providing additional information in assessing the overall performance of our business. Customer count is defined as the total number of customers with contracts executed as of the last day of the reporting period and a unique administrative account identifier on the Answers platform. Generally, we assign unique administrative accounts to each separate and distinct entity (such as a company or government institution) or a business unit of a large corporation, that has its own separate contract with us to access the Answers platform. We believe that customer count provides insight into our ability to grow our enterprise and mid-size customer base. As such, customer count excludes third-party reseller customers and small business customers as well as customers only receiving free trials. From time to time, some customers previously characterized as small business customers may transition to mid-size customers, and customer count includes these changes resulting from any recharacterization. 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. In addition, we present ARR on a constant currency basis. Constant currency as it relates to ARR provides a framework for assessing Company performance which excludes the effect of foreign currency rate fluctuations. Contracts included in the determination of ARR in the current period are converted into USD at the exchange rates in effect at the end of the comparative period, as opposed to the exchange rates in effect at the end of the current period. 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. is a provider of an answer platform. The Company is engaged in organizing businesses facts to deliver relevant, actionable answers to consumer questions throughout the digital ecosystem. Its platform lets businesses structure the facts about their brands in a database called the Knowledge Graph. Its platform is built to leverage the structured data stored in the Knowledge Graph to deliver a search experience on a business or organization's own Website, as well as across over 200 service and application providers, which it refers to as its Publisher Network, and includes Amazon Alexa, Apple Maps, Bing, Cortana, Facebook, Google, Google Assistant, Google Maps, Siri, and Yelp. The Company's platform offers various features, including Listings, Pages, and Search, along with its other features and capabilities. The Company also offers field user support, which includes one-on-one training, review of content based on brand guidelines, and other support services. Sector
Yext Frequently Asked Questions (FAQ)
When was Yext founded?
Yext was founded in 2006.
Where is Yext's headquarters?
Yext's headquarters is located at 61 Ninth Avenue, New York.
What is Yext's latest funding round?
Yext's latest funding round is PIPE.
How much did Yext raise?
Yext raised a total of $115.92M.
Who are the investors of Yext?
Investors of Yext include Lead Edge Capital, Institutional Venture Partners, Insight Partners, Sutter Hill Ventures, WGI Group and 5 more.
Who are Yext's competitors?
Competitors of Yext include Getpin, Murmur, Stops, alphin, BirdEye and 7 more.
Compare Yext to Competitors
The Knowledge Generation Bureau (KGB) is a text-message based information service. This New York City based company provides outsourced directory assistance services by responding to texts and answering phone calls to help customers find what they are looking for. After launching a texting service in the U.K., KGB brought the service to the U.S. in the fall of 2008.
Local Marketers aims to help local businesses advertise directly to customers using Internet advertising.
Whitepages is a source for contact information in North America and is developing services that help people find, understand and verify personal and business identities in an ever-changing digital world. Whitepages is committed to empowering users with control, safeguarding the accuracy and authenticity of digital identities, and advancing transparency. The company offers access to more than 200 million personal identities and provides users with the ability to control their own. Whitepages also operates Whitepages PRO, an API and web-based service, which helps businesses verify the identities of their customers.
Reputation provides a software-as-a-service (SaaS) automated platform. The platform manages consumer feedback from acquisition to loyalty. It offers review and reviews boosters, surveys, insights, competitive intelligence, and more. The company caters to automotive, healthcare, financial service, retail, and other sectors. It was formerly known as Reputation Defendern. The company was founded in 2006 and is based in San Ramon, California.
Uberall is a company that focuses on location marketing in the digital technology sector. The company offers a platform that helps businesses increase their online visibility, manage customer feedback, and analyze their online performance, thereby bridging the gap between the digital and real world. Uberall primarily serves sectors such as retail, food and beverage, automotive, and finance and insurance. It was founded in 2012 and is based in Berlin, Germany.
Podium helps businesses of all sizes collect and manage online reviews and customer feedback. The company provides reviews on different social sites, as well as private customer feedback. It was founded in 2014 and is based in Lehi, Utah.