Yext, Inc. - YEXT STOCK NEWS

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.

Yext, Inc. (NYSE: YEXT) has partnered with Casio Computer Co., Ltd. to enhance Casio's eCommerce sites across Japan, Malaysia, and Singapore using Yext eCommerce Search. Following initial success, Casio plans to implement Yext as a standard for all global websites. Key outcomes include a 3x higher conversion rate for users who utilize Yext's search and a 6% increase in average order value. The project aims to improve customer experience and sales, with future expansions planned across APAC, EMEA, and North America.

A Yext survey reveals that 73% of consumers are unlikely to revisit businesses with inaccurate hours. The survey of over 1,000 U.S. consumers found that 44% visited closed stores due to this issue. An analysis of 2.4 million business locations showed that only 8.6% updated their hours for Memorial Day 2021. Yext emphasizes the importance of accurate business information, especially during holidays, as 52% of surveyed consumers feel uncertain about businesses with outdated hours. Yext offers solutions to improve listing accuracy across various platforms.