Yext - YEXT STOCK NEWS

Yext, Inc. (NYSE: YEXT) announced its Spring '21 Release, a major update that introduces the 'Orion' search algorithm along with advanced features like Extractive QA, a website crawler, and data connectors. These innovations aim to enhance search experiences by leveraging natural language processing and streamlining data management for businesses. With an emphasis on improving accuracy in delivering answers, Yext's updates cater to both customer-facing and authenticated employee searches, marking a significant step in modernizing their search platform.

Yext, Inc. (NYSE: YEXT) reported a 13% revenue increase to $92.2 million for Q4 FY2021, with a total annual revenue of $354.7 million, up 19% year-over-year. Gross profit rose 17% to $70.6 million, translating to a gross margin of 76.6%. The net loss decreased to $18.3 million from $30.6 million in Q4 FY2020. Yext expects Q1 FY2022 revenue between $87 million to $89 million and full-year revenue between $375 million to $380 million. The company's cash position remains strong at $230 million.

Yext (NYSE: YEXT) announced that its Founder and CEO, Howard Lerman, will participate in a virtual fireside chat at the Morgan Stanley Technology, Media, and Telecom Conference on March 4, 2021, at 10:15 a.m. ET. A live webcast of the event will be available on Yext's Investor Relations website. For those unable to attend live, a replay will be accessible shortly after the event. Yext is dedicated to enhancing the search experience for businesses globally, ensuring accurate answers are provided across various platforms.

Yext, Inc. (NYSE: YEXT) will release its fourth-quarter and full fiscal year 2021 results on March 3, 2021, post-market close. A conference call is scheduled for 4:30 p.m. ET to discuss the financial outcomes. Investors can access a live webcast through the Yext Investor Relations website. Additionally, Yext will host a Virtual Investor Day on March 17, 2021, at 2:30 p.m. ET, with registration details available online.

Yext, Inc. (NYSE: YEXT) announced the launch of its advanced natural language processing algorithm, extractive question answering (QA), set to debut on March 17 as part of the Orion update. This algorithm enhances Yext's site search by providing direct answers from unstructured documents, improving customer interactions. Unlike traditional keyword searches, extractive QA offers a richer search experience by delivering precise snippets of information. Chief Strategy Officer Marc Ferrentino emphasized its role in modernizing search and helping organizations with digital transformation.

Yext, Inc. (NYSE: YEXT) announced the promotion of David Rudnitsky to President and Chief Revenue Officer on Feb. 8, 2021. Rudnitsky, who joined Yext in 2017, previously led the enterprise sales organization in North America. With over 35 years of technology and cloud sales experience, he has a proven record, having contributed significantly to Salesforce's growth from $51 million to almost $6 billion in revenue. CEO Howard Lerman expressed confidence in Rudnitsky's ability to drive Yext's growth during the next phase of operational development.

Yext, Inc. (NYSE: YEXT) has partnered with Carahsoft Technology Corp. to enhance search capabilities for government agencies in response to the COVID-19 pandemic. Carahsoft will distribute Yext's Answers product, aiding agencies in efficiently providing information for vaccine distribution. Yext previously developed custom information hubs during the pandemic, including a widely used hub for New Jersey. This collaboration allows government agencies to access advanced search tools through established contracts, improving information accuracy for constituents.

Yext, Inc. (NYSE: YEXT) announced the implementation of Yext Answers on Advantage Dental Oral Health Center's website, transforming its site search capabilities. Before this collaboration, patients relied on phone calls for information. With Yext Answers, the organization reported a 27.5% site search click-through rate within six weeks and a 7.1x increase in search volume after enhancing the search bar visibility. This advancement allows Advantage Dental to better understand patient inquiries and manage information efficiently, especially important during unexpected crises.