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 reported a 3% year-over-year revenue increase in Q2 FY2023, reaching $100.9 million, despite a $2.8 million negative impact from foreign currency exchange. Customer count rose 8% to over 2,870, and ARR grew 2% to $387 million. The company’s net loss narrowed to $20 million, with a net loss per share of $0.16. Yext is projecting Q3 revenue between $99 million and $100 million and an annual revenue forecast of $399.4 million to $401.4 million.
Yext, Inc. (NYSE: YEXT) announced that its second quarter fiscal year 2023 results will be disclosed on September 7, 2022, post-market close. The company will conduct a conference call at 4:30 p.m. (ET) to discuss the financial results with investors. A live webcast will be available on the Yext Investor Relations website. A replay of the event can be accessed until September 16, 2022 at specific dial-in numbers. Yext focuses on helping organizations provide accurate answers about their business through its Answers Platform.
Yext has appointed Raianne Reiss as its new Chief Marketing Officer, effective immediately. With over 20 years of experience, including leadership roles at Elastic and Amazon Web Services, Reiss will drive Yext's global marketing strategies and enhance brand demand. Reporting to Marc Ferrentino, President and COO, she aims to fuel Yext's growth and expand its market presence. Reiss emphasized the importance of providing relevant digital experiences to customers and is excited to collaborate with the Yext community.
Yext, the Answers company, has launched its Summer '22 Release, enhancing the Yext Answers Platform. This update introduces a name change from 'Answers' to 'Search' and provides significant product innovations aimed at improving user experience. Key features include new analytics for listings, improved custom pages development tools, and an AI data cleaning preview. The release emphasizes the platform's adaptability for businesses facing complex digital environments, enabling them to consolidate functionalities and create seamless multi-channel experiences.
Yext announced enhanced features for its Tripadvisor integration, enabling hospitality brands to manage over 40 listing fields, including amenities and dining options. This capability is unique to Yext, which boosts visibility; listings with detailed profiles see 52% more clicks. The company emphasizes that such data-driven listings align with evolving consumer preferences, enhancing hotel discoverability and potentially increasing high-intent traffic. This innovation reinforces Yext's leadership in the Local Listings Management category, as it continues to sync information across over 100 million locations.
Yext (NYSE: YEXT) has announced a partnership with Snowflake to enhance analytics functionality on its platform. This collaboration aims to provide customers with deeper insights into user behavior, utilizing Snowflake’s data cloud for improved data sharing and access to analytics. The partnership was showcased at the Snowflake Summit held from June 13-16, 2022, in Las Vegas. Yext's focus on analytics aligns with its mission to deliver authoritative answers across various platforms. This partnership is expected to drive better user experiences through advanced data insights.
Yext has partnered with what3words to enhance location management for its customers. This collaboration allows businesses to utilize unique three-word addresses, improving customer navigation to precise locations. Notably, Yext integrates with over 100 million listings and processes more than a billion updates annually through major platforms like Google and Apple Maps. The partnership aims to differentiate brands in a competitive digital space by providing exact address details. Yext continues to lead in the Local Listings Management category, demonstrating its commitment to innovation.
Yext reported a 7% year-over-year revenue increase to $98.8 million for Q1 fiscal 2023, with a customer count rise of 11% to over 2,830. Annual recurring revenue (ARR) also improved by 5% to $387 million. Despite a net loss of $25.8 million (up from $17.6 million), cash and equivalents stood at $248 million, with unearned revenue at $196 million. Yext launched a $100 million share repurchase program and provided guidance for Q2 and full-year 2023 revenue ranging between $399.3 million to $403.3 million.
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