Welcome to our dedicated page for Yext news (Ticker: YEXT), a resource for investors and traders seeking the latest updates and insights on Yext stock.
Yext, Inc. (symbol: YEXT) is a leading global digital location management (DLM) company headquartered in New York City. Yext specializes in helping over 500,000 business locations connect with mobile consumers through an extensive network of more than 100 app, map, directory, search engine, and social media partners, including Apple, Bing, Facebook, Foursquare, Yahoo, and Yelp.
Yext's mission is to empower the world's 50 million businesses to harness the power of location data and drive both face-to-face and digital interactions. This leads to enhanced customer engagement, audience building, and increased sales. The company achieves this through three core product offerings: PowerListings®, Pages, and Xone™.
Aside from its impressive client base, Yext's knowledge engine platform allows businesses to manage their digital knowledge in the cloud. This digital knowledge is structured information that businesses want to make publicly accessible and is synced across nearly 200 services, including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri, and Yelp.
Yext makes search intelligent by offering precise, accurate, and up-to-date answers to location-based queries, whether they're conducted online, via mobile apps, or through voice and AI engines. The company derives the majority of its revenue from subscription services, with a significant portion coming from North America and the remainder from international markets.
The company's achievements and accolades include being recognized as one of America’s fastest-growing companies by Inc. 500 (#212 in 2015), one of Forbes' most promising companies (2014 & 2015), and one of Fortune's best places to work (2014 & 2015). Yext's team has grown to over 400 employees worldwide, reflecting its rapid expansion and innovative culture.
Stay updated on the latest news and developments of Yext, Inc. to see how this industry leader continues to evolve and influence the digital landscape.
Yext, Inc. (NYSE: YEXT) announced new integrations with Acquia Drupal Cloud, enhancing AI-powered search experiences for businesses. This collaboration allows companies to seamlessly sync information into Yext's knowledge graph, making data readily available for AI search. Yext's Answers AI platform utilizes advanced natural language processing to provide direct answers instead of links, improving customer engagement. The partnership aims to optimize digital experiences, reduce support costs, and drive conversions for Acquia users.
Yext, a leader in AI search solutions, unveiled its Financial Services Cloud on October 18, 2021. This innovative offering is tailored for banks and financial institutions, featuring enhanced AI-powered search functionalities, including Guided Search. This new capability personalizes user experiences by guiding clients through tailored questions to find optimal financial solutions. Other key features include Reputation Management, marketing support for branches, and customizable service pages, all aimed at improving conversion rates and customer satisfaction.
On Oct. 14, 2021, Yext announced a successful partnership with Samsung to enhance its help site using Yext's Support Answers AI-powered search solution. This optimization has significantly improved customer support metrics, including a 45% increase in Net Promoter Score (NPS), 33% in Customer Satisfaction Score (CSAT), and a 19% rise in customer engagement. Within eleven weeks, Samsung also saw a 40% boost in click-through rates. Yext's solution effectively transformed Samsung's search capabilities, providing direct answers to customer inquiries.
On October 7, 2021, Yext (NYSE: YEXT) announced it achieved the No. 2 position in the Fall 2021 G2 Grid® Report for Enterprise Search Software, up from No. 4 last quarter. The company continues to innovate with offerings like a new integration with Salesforce and an AI-powered Doctor Finder solution. Yext's AI search platform has received positive user reviews, highlighting its innovative approach and exceptional customer support. The company maintains its leader status across several market segments, showcasing its ongoing commitment to improving enterprise search solutions.
Yext, Inc. (NYSE: YEXT) announced successful collaboration with Virtusa and Adobe to enhance the customer experience for People's United Financial. Post-implementation of Yext's site search solution, customer support call volume dropped by 50-70%. The integration led to an estimated 15x annualized return on investment (ROI), increasing to 35x when including additional features. This project underscores the importance of intuitive digital experiences, especially during the pandemic, demonstrating significant improvements in customer engagement and operational efficiency.
Yext, Inc. (NYSE: YEXT) announced that its website won the 2021 WebAward for Outstanding Website. The site was recognized for its design, innovation, and user experience. WebAward judges praised yext.com as "clean, elegant, and easy to navigate." Yext's Chief Marketing Officer highlighted the site's redesign, aimed at enhancing the experiences of various stakeholders by utilizing the company's AI search technology, making it faster and more responsive. This recognition marks Yext's commitment to excellence in website design and user engagement.
Yext, the AI Search Company, announced a digital event with Samsung on September 14, 2021, at 1 p.m. ET to discuss enhancing customer support for the holiday season. Featured speakers include leaders from both companies, focusing on scaling customer support solutions amidst increasing ecommerce demands. Joe Jorczak from Yext highlighted the urgent need for businesses to improve their support experiences to handle the expected surge in support requests during this peak shopping period. The event aims to provide valuable insights for brands navigating busy retail seasons.
Yext has launched Find-a-Doc, an AI-driven search solution designed to enhance the patient experience in healthcare. This tool leverages advanced natural language processing to allow patients to find suitable healthcare providers based on their specific needs, such as doctor specialty and insurance type. Healthcare organizations using Find-a-Doc, like IHA, reported a 400% increase in online appointment conversions shortly after implementation. Yext aims to streamline the search process, making it easier for patients to connect with healthcare providers.
Yext, Inc. (NYSE: YEXT) released a survey showing significant insights into consumer preferences for online customer support. Over 85% of respondents value self-service options, while 58% prefer information directly from company websites. Trust in brand-provided information is high, with 93% likely to trust answers from company sites. Additionally, 62% indicated they might choose competitors if their questions go unanswered. The findings highlight the importance of investing in effective help site search to enhance customer experience and loyalty.
Yext (NYSE: YEXT) reported its second quarter fiscal 2022 results, with revenue reaching $98.1 million, an 11% increase from $88.1 million in Q2 2021. Gross profit grew 8% to $71.5 million, yielding a gross margin of 72.9%. However, the company experienced a net loss of $27.6 million, slightly higher than $25.1 million in the prior year. Customer count rose 23% year-over-year to over 2,600, while Annual Recurring Revenue (ARR) increased 12% to $378 million. Yext forecasts Q3 revenue between $97.5 million and $98.5 million.
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