Yext, Inc. Announces First Quarter Fiscal 2022 Results

Rhea-AI Summary

Yext, Inc. (NYSE: YEXT) reported a strong performance for the first quarter of fiscal 2022, ending April 30, 2021. The company saw a 22% year-over-year increase in total customer count, reaching over 2,500. Revenue rose 8% year-over-year to $92 million, while unearned revenue also climbed 22% year-over-year to $187 million. Annual Recurring Revenue (ARR) increased 14% year-over-year to $370 million. The company improved its cash reserves to $272 million and provided optimistic guidance for the upcoming second quarter and the full fiscal year.

Positive

• Customer count increased 22% year-over-year to over 2,500.
• First quarter revenue rose 8% year-over-year to $92 million.
• Unearned revenue grew 22% year-over-year to $187 million.
• Annual Recurring Revenue (ARR) increased 14% year-over-year to $370 million.
• Cash and cash equivalents increased to $272 million.
• Guidance raised for the second quarter and full year fiscal 2022.

Negative

• None.

NEW YORK, May 27, 2021 /PRNewswire/ -- Yext, Inc. (NYSE: YEXT), today announced its results for the three months ended April 30, 2021, or the Company's first quarter of fiscal 2022.

   

               

                                           - Total Customer Count Increased 22% Year-over-Year to Over 2,500

- First Quarter Revenue Increased 8% Year-over-Year to $92.0 Million

- Unearned Revenue Increased 22% Year-over-Year to $187 Million

- ARR Increased 14% Year-over-Year to $370 Million

- Cash and Cash Equivalents Increased to $272 Million

- Issues Guidance for Second Quarter Fiscal 2022

- Raises Guidance for Full Year Fiscal 2022

FAQ

What were Yext's earnings results for the first quarter of fiscal 2022?

Yext reported a revenue of $92 million for the first quarter, an 8% increase year-over-year.

How has Yext's customer count changed recently?

Yext's total customer count increased by 22% year-over-year to over 2,500.

What is Yext's Annual Recurring Revenue (ARR) for the first quarter of fiscal 2022?

Yext's ARR increased by 14% year-over-year, reaching $370 million.

What guidance did Yext provide for the upcoming fiscal periods?

Yext raised its guidance for both the second quarter and the full year fiscal 2022.