Yext, Inc. Files Q3 2024 10-Q Report

TL;DR

Yext filed its Q3 2024 10-Q. Check financials.

AI Summary

Yext, Inc. filed its 10-Q for the period ending October 31, 2024. The filing covers the third quarter of their fiscal year. Key financial details and operational updates for this period are presented, though specific dollar amounts for revenue or profit are not detailed in this excerpt.

Why It Matters

This filing provides investors with an update on Yext's financial performance and operational status for the third quarter of fiscal year 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags in the provided excerpt.

Key Numbers

• 2024-10-31 — Period End Date (Indicates the end of the reporting quarter)
• 2024-12-09 — Filing Date (Date the 10-Q was officially submitted)

Key Players & Entities

• Yext, Inc. (company) — Filer of the 10-Q report
• 2024-10-31 (date) — End of the reporting period
• 20241209 (date) — Filing date
• 0001614178 (company) — Central Index Key for Yext, Inc.

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share YEXT New York Stock Exchange

Filing Documents

• yext-20241031.htm (10-Q) — 1554KB
• q3fy25ex311sect302certceo.htm (EX-31.1) — 12KB
• q3fy25ex312sect302certcfo.htm (EX-31.2) — 12KB
• q3fy25ex321sect906certceo.htm (EX-32.1) — 5KB
• q3fy25ex322sect906certcfo.htm (EX-32.2) — 6KB
• yext-20241031_g1.jpg (GRAPHIC) — 29KB
• 0001614178-24-000140.txt ( ) — 7643KB
• yext-20241031.xsd (EX-101.SCH) — 48KB
• yext-20241031_cal.xml (EX-101.CAL) — 86KB
• yext-20241031_def.xml (EX-101.DEF) — 270KB
• yext-20241031_lab.xml (EX-101.LAB) — 690KB
• yext-20241031_pre.xml (EX-101.PRE) — 503KB
• yext-20241031_htm.xml (XML) — 916KB

Financial Statements

Financial Statements 5 Condensed Consolidated Balance Sheets ( U naudited) 5 Condensed Consolidated Statements of Operations and Comprehensive Loss ( U naudited) 6 Condensed Consolidated Statements of Stockholders' Equity ( U naudited) 7 Condensed Consolidated Statements of Cash Flows ( U naudited) 9 Notes to Condensed Consolidated Financial Statements 10 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4

Controls and Procedures

Controls and Procedures 38 PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 39 Item 1A

Risk Factors

Risk Factors 39 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 65 Item 3 Defaults Upon Senior Securities 65 Item 4 Mine Safety Disclosures 65 Item 5 Other Information 65 Item 6 Exhibits 66

SIGNATURES

SIGNATURES SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains, and our officers and representatives may from time to time make, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "plan," "intend," "could," "would," "expect," "possible," and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. Forward-looking statements included in this Quarterly Report on Form 10-Q include, but are not limited to, statements regarding: our future revenue, cost of revenue, operating expenses and cash flows; anticipated trends, growth rates and challenges in our business and in the markets in which we operate; the effect of general macroeconomic conditions, including, but not limited to, the impact of foreign currency fluctuations, interest rates, inflation, recession risks and geopolitical events and shifts, on our business, operations, and financial results and the business and operations of our customers and potential customers; our beliefs, objectives and strategies for future operations, including plans to invest in international expansion, research and development, and our sales and marketing teams, and the impact of such investments on our operations; changes in management and anticipated effects thereof; effects of current and prospective acquisition

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 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 (Note 13) 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 compr

View Full Filing

View this 10-Q filing on SEC EDGAR