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Yext(YEXT) - 2023 Q3 - Quarterly Report
2022-12-02 21:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38056 YEXT, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...
Yext(YEXT) - 2023 Q3 - Earnings Call Transcript
2022-12-01 02:01
Financial Performance and Key Metrics - In Q3 2023, the company's revenue was $99.3 million, reflecting a 4% increase on a constant currency basis compared to the prior year, driven by new customers and upsells [6][17] - Non-GAAP net income per share improved to $0.02 from a net loss of $0.04 in the same period last year, attributed to streamlined operations and improved efficiencies [6][19] - Non-GAAP operating expenses as a percentage of revenue decreased to 73% from 81% year-over-year, with sales and marketing expenses also declining to 44% from 52% [6][19] - Annual recurring revenue (ARR) reached $389.5 million, up 1% year-over-year, with direct ARR growth of 3% year-over-year [18] Business Line Performance - Direct ARR growth was 3% year-over-year, while third-party reseller ARR declined by 8% year-over-year [18] - The gross retention rate improved to the mid-80s, indicating better customer retention and satisfaction [8][9] Market Performance - The company expanded its leadership in financial services, healthcare, and technology, with significant wins in e-commerce, sports, government, and religious organizations [14] - The company faced macroeconomic headwinds, leading to elongated sales cycles and increased scrutiny on budgets, particularly in international markets [8][29] Company Strategy and Industry Competition - The company is focused on efficient and profitable growth through product innovation and operational efficiency, with a commitment to enhancing its Answers platform [8][12] - The competitive landscape includes larger players in the search solutions space, but the company maintains an advantage with its broad platform capabilities [54] Management Commentary on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment but expressed confidence in the company's value proposition and ability to help customers reduce costs [8][45] - The company expects Q4 revenue to be between $100 million and $101 million, with full-year revenue guidance of $399 million to $400 million [20] Other Important Information - The company welcomed a new Chief Revenue Officer to enhance sales execution and customer success strategies [9] - Cash and cash equivalents were $162 million at the end of Q3, with share repurchases totaling $10.1 million during the quarter [19] Q&A Session Summary Question: What is driving the sequential decline in net dollar retention for direct customers? - Management noted that the decline from 98% to 97% is influenced by lower gross retention in previous quarters and some foreign exchange impacts [24][25] Question: What updates are there on the third-party reseller opportunity? - Management indicated that while there are growth opportunities in the reseller channel, it remains a challenged space, particularly for SMBs [28] Question: How are renewals trending in Q4? - Management expressed optimism about improvements in gross retention and bookings, indicating a positive outlook for renewals [31][32] Question: What is the company's approach to hiring going into 2023? - Management emphasized a focus on R&D investment while maintaining operational efficiency, with plans to scale teams as productivity improves [41] Question: How is the competitive environment evolving? - Management highlighted the company's platform advantages and recent competitive wins, indicating confidence in its ability to compete effectively [54][52]
Yext(YEXT) - 2023 Q2 - Quarterly Report
2022-09-08 21:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | ...
Yext(YEXT) - 2023 Q2 - Earnings Call Transcript
2022-09-07 23:55
Yext, Inc. (NYSE:YEXT) Q2 2023 Earnings Conference Call September 7, 2022 4:30 PM ET Company Participants Nils Erdmann - SVP, IR Michael Walrath - CEO Marc Ferrentino - COO & President Darryl Bond - CFO Conference Call Participants Naved Khan - Truth Securities Arjun Bhatia - William Blair Wyatt Swanson - D.A. Davidson Operator Good afternoon, and welcome to the Yext Second Quarter Fiscal 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s prese ...
Yext(YEXT) - 2023 Q1 - Quarterly Report
2022-06-09 20:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38056 YEXT, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...
Yext(YEXT) - 2023 Q1 - Earnings Call Transcript
2022-06-09 02:46
Yext, Inc. (NYSE:YEXT) Q1 2023 Earnings Conference Call June 8, 2022 4:30 PM ET Company Participants Ho Shin - General Counsel Michael Walrath - CEO Marc Ferrentino - COO and President Darryl Bond - CFO Conference Call Participants Naved Khan - Truth Securities Ryan MacDonald - Needham Christopher Madison - William Blair Operator Good day, and welcome to the Yext, Inc. First Quarter Fiscal 2023 Financial Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now ...
Yext(YEXT) - 2022 Q4 - Annual Report
2022-03-18 21:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2022 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38056 YEXT, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 20-8 ...
Yext(YEXT) - 2022 Q4 - Earnings Call Transcript
2022-03-09 02:02
Yext, Inc. (NYSE:YEXT) Q4 2022 Earnings Conference Call March 8, 2022 4:30 PM ET Company Participants Jeffrey Houston - Vice President, Investor Relations Howard Lerman - Co-Founder, Chief Executive Officer & Director David Rudnitsky - President & Chief Executive Officer Steve Cakebread - Chief Financial Officer Darryl Bond - Chief Accounting Officer Michael Walrath - Independent Chairman of the Board Conference Call Participants Naved Khan - Truist Securities Ryan MacDonald - Needham Pinjalim Bora - JPMorg ...
Yext(YEXT) - 2022 Q3 - Quarterly Report
2021-12-03 21:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38056 YEXT, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...
Yext(YEXT) - 2022 Q3 - Earnings Call Transcript
2021-12-03 01:15
Yext, Inc. (NYSE:YEXT) Q3 2022 Results Conference Call December 2, 2021 4:30 PM ET Company Participants Jeff Houston - VP, IR Howard Lerman - Co-Founder, CEO & Director David Rudnitsky - President & CEO Steve Cakebread - CFO Conference Call Participants Naved Khan - Truist Securities Rohit Kulkarni - MKM Partners Pinjalim Bora - JPMorgan Operator Good day, and welcome to the Yext Third Quarter Fiscal 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After t ...