Yext, Inc. Announces Third Quarter Fiscal 2021 Results

Rhea-AI Summary

Yext, Inc. (NYSE: YEXT) reported its third-quarter fiscal 2021 results, revealing a revenue of $89.1 million, a 17% increase from the previous year. Gross profit rose by 20% to $67.4 million, and gross margin improved to 75.7%. The net loss was $22.0 million, significantly down from $42.7 million year-over-year. Notable business highlights included a 28% increase in customer count and an 18% rise in annual recurring revenue to $346 million. The company provided guidance for Q4 2021, projecting revenue between $87 million to $89 million.

Positive

• Revenue increased 17% year-over-year to $89.1 million.
• Gross profit rose 20% to $67.4 million, with a gross margin of 75.7%.
• Customer count increased by 28% year-over-year, reaching nearly 2,300.
• Annual recurring revenue (ARR) grew 18% year-over-year to $346 million.

Negative

• Net loss of $22.0 million, although improved from $42.7 million in the previous year.
• Non-GAAP net loss of $2.8 million, down from $21.6 million year-over-year.

NEW YORK, Dec. 3, 2020 /PRNewswire/ -- Yext, Inc. (NYSE: YEXT), the Search Experience Cloud company, today announced its results for the three months ended October 31, 2020, or the Company's third quarter of fiscal 2021.

"We had a solid third quarter, indicating that people are hungry for a disruption in search. We're on a mission to bring modern search to every business website on the planet, and we're now closer to realizing that goal," said Howard Lerman, Founder and CEO of Yext. "In addition to helping more businesses than ever before drive more branded searches on their own websites, we're continuing to stay laser focused on sales efficiency." 

Third Quarter Fiscal 2021 Highlights:

• Revenue of $89.1 million, a 17% increase compared to the $76.4 million reported in the third quarter fiscal 2020.

• Gross Profit of $67.4 million, a 20% increase compared to the $56.0 million reported in the third quarter fiscal 2020. Gross margin of 75.7% compared to 73.3% reported in third quarter fiscal 2020.

• Net Loss and Non-GAAP Net Loss:
• Net loss of $22.0 million compared to the net loss of $42.7 million in the third quarter fiscal 2020.
• Non-GAAP net loss of $2.8 million compared to the non-GAAP net loss of $21.6 million in the third quarter fiscal 2020.

• Net Loss Per Share and Non-GAAP Net Loss Per Share:
• Net loss per share of $0.18 compared to net loss per share of $0.38 in the third quarter fiscal 2020.
• Non-GAAP net loss per share of $0.02 compared to non-GAAP net loss per share of $0.19 in the third quarter fiscal 2020.
• Net loss per share and non-GAAP net loss per share were based on 120.7 million and 113.5 million weighted-average basic shares outstanding for the third quarter fiscal 2021 and fiscal 2020, respectively.

• Balance Sheet: Cash and cash equivalents of $209 million as of October 31, 2020. Unearned revenue of $129 million as of October 31, 2020, a 20% increase compared to $108 million as of October 31, 2019. 

• Remaining Performance Obligations ("RPO"): RPO of $285 million as of October 31, 2020. RPO expected to be recognized over the next 24 months of $265 million with the remaining balance expected to be recognized thereafter. RPO does not include amounts under contract subject to certain accounting exclusions.

• Cash Flow: Net cash used in operating activities was $7.4 million for the three months ended October 31, 2020 compared to net cash used in operating activities of $31.8 million for the same period of fiscal 2020.

Readers are encouraged to review the tables labeled "Reconciliation of GAAP to Non-GAAP Financial Measures" at the end of this release.

Recent Business Highlights:

• Announced the general availability of "Hitchhikers," a comprehensive training program and community for professionals, including Yext clients and partners, looking to grow their business through custom website enhancements and search-powered solutions.
• Announced that Yext Answers won a Global Search Award in the Best Software Innovation category by a panel of search industry leaders and experts.
• Announced our Fall '20 Release introducing several enhancements to the Yext platform.
• Named a Top 15 Workplace on Fortune's 2020 Best Workplaces in New York List.
• Appointed Hillary Smith, Operating Partner at Craft Ventures, to its Board of Directors, effective October 21, 2020.
• Announced that Yext Answers expanded its global footprint and is now available in Japanese.
• Announced the launch of our WordPress Answers Connector, a plugin that allows WordPress users to seamlessly integrate Yext Answers into WordPress pages.
• Customer count, which excludes our small business and third-party reseller customers, increased 28% year-over-year to nearly 2,300 as of October 31, 2020.
• Structured facts in the Yext Knowledge Graph increased 58% year-over-year to over 405 million as of October 31, 2020.
• Annual recurring revenue, or ARR, increased 18% year-over-year to $346 million as of October 31, 2020, compared to $293 million as of October 31, 2019.

Financial Outlook:

Yext is also providing the following guidance for its fourth fiscal quarter ending January 31, 2021.

• Fourth Quarter Fiscal 2021 Outlook:
• Revenue is projected to be in the range of $87 million to $89 million.
• Non-GAAP net loss per share is projected to be $0.10 to $0.08 which assumes 123.3 million weighted-average basic shares outstanding.

Conference Call Information
Yext will host a conference call today at 4:30 P.M. Eastern Time (1:30 P.M. Pacific Time) to discuss its financial results with the investment community. A live webcast of the call will be available on the Yext Investor Relations website at http://investors.yext.com. A live dial-in is available domestically at (877) 883-0383 and internationally at (412) 902-6506, passcode 2822335.

A replay will be available domestically at (877) 344-7529 or internationally at (412) 317-0088, passcode 10149775, until midnight (ET) December 10, 2020.

About Yext
The ultimate source for official answers about a business online should be the business itself. However, when consumers ask questions on company websites, too often they are left in the dark with wrong answers. Yext (NYSE: YEXT), the Search Experience Cloud, solves this problem by organizing a business's facts so it can provide official answers to consumer questions — wherever people search. Starting with the company website, then extending across search engines and voice assistants, businesses around the world, like T-Mobile, Jaguar Land Rover, BBVA USA, and Kiehl's — as well as organizations like the U.S. State Department and World Health Organization — trust Yext to radically improve the search experience on their websites and across the entire search ecosystem.

Yext's mission is to help businesses and organizations around the world deliver official answers everywhere people search. Yext has been named a Best Place to Work by Fortune and Great Place to Work®, as well as a Best Workplace for Women. Yext is headquartered in New York City with offices in Amsterdam, Berlin, Chicago, Dallas, Geneva, London, Miami, Milan, Paris, San Francisco, Shanghai, Tokyo, and the Washington, D.C. area — and work-from-home offices all around the world.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This release includes forward-looking statements including, but not limited to, statements regarding our revenue, non-GAAP net loss and shares outstanding for our fourth quarter fiscal 2021 in the paragraphs under "Financial Outlook" above, statements regarding the impact of the COVID-19 pandemic on our business and results of operations and other statements regarding our expectations regarding the growth of our company, our market opportunity, sales efficiency efforts and our industry.  In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "intend," "potential," "might," "would," "continue," or the negative of these terms or other comparable terminology.  Actual events or results may differ from those expressed in these forward-looking statements, and these differences may be material and adverse.

We have based the forward-looking statements contained in this release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, strategy, short- and long-term business operations, prospects, business strategy and financial needs.  Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, the impact of the COVID-19 pandemic on U.S. and global markets, our business, operations, financial results, cash flow, demand for our products, sales cycles, and customer acquisition and retention; our ability to renew existing customers and attract new customers generally; our ability to successfully expand and compete in new geographies and industry verticals; our ability to maintain and scale our sales force; our ability to expand our service and application provider network; our ability to develop new product and platform offerings to expand our market opportunity, including with Yext Answers; our ability to release new products and updates that are adopted by our customers; our ability to manage our growth effectively; changes to our real estate strategy, in particular the timing and size of our capital expenditures related to new facilities; weakened or changing global economic conditions; the number of options exercised by our employees and former employees; and the accuracy of the assumptions and estimates underlying our financial projections.  For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, which are available at http://investors.yext.com and on the SEC's website at https://www.sec.gov.  Further information on potential risks that could affect actual results will be included in other filings we make with the SEC from time to time. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements made in this release relate only to events as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements after the date hereof or to conform such statements to actual results or revised expectations, except as required by law.

Non-GAAP Measurements
In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables include non-GAAP cost of revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (sales and marketing, research and development, general and administrative), non-GAAP operating expenses as a percentage of total revenue, non-GAAP net loss, non-GAAP net loss per share, non-GAAP net loss as a percentage of total revenue, which are referred to as non-GAAP financial measures.

These non-GAAP financial measures are not calculated in accordance with GAAP as they have been adjusted to exclude the effects of stock-based compensation expenses. Non-GAAP gross margin, non-GAAP operating expenses as a percentage of total revenue, and non-GAAP net loss as a percentage of total revenue are ratios calculated by dividing the applicable non-GAAP financial measure by total revenue. Non-GAAP net loss per share is defined as non-GAAP net loss on a per share basis. See "Reconciliation of GAAP to Non-GAAP Financial Measures" for a discussion of the applicable weighted-average shares outstanding.

We believe these non-GAAP financial measures provide investors and other users of our financial information consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our results of operations. With respect to non-GAAP gross margin, non-GAAP operating expenses as a percentage of total revenue, and non-GAAP net loss as a percentage of total revenue, we believe these non-GAAP financial measures are useful in evaluating our profitability relative to the amount of revenue generated, excluding the impact of stock-based compensation expense. We also believe non-GAAP financial measures are useful in evaluating our operating performance compared to that of other companies in our industry, as these metrics eliminate the effects of stock-based compensation, which may vary for reasons unrelated to overall operating performance.

We use these non-GAAP financial measures in conjunction with traditional GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our Board of Directors concerning our financial performance. Our definition may differ from the definitions used by other companies and therefore comparability may be limited.  In addition, other companies may not publish this or similar metrics.  Thus, our non-GAAP financial measures should be considered in addition to, not as a substitute for, nor superior to or in isolation from, measures prepared in accordance with GAAP.

These non-GAAP financial measures may be limited in their usefulness because they do not present the full economic effect of our use of stock-based compensation. We compensate for these limitations by providing investors and other users of our financial information a reconciliation of non-GAAP net loss to net loss, non-GAAP net loss per share to net loss per share and non-GAAP net loss margin to net loss margin, the most closely related GAAP financial measures.  However, we have not reconciled the non-GAAP guidance measures disclosed under "Financial Outlook" to their corresponding GAAP measures because certain reconciling items such as stock-based compensation and the corresponding provision for income taxes depend on factors such as the stock price at the time of award of future grants and thus cannot be reasonably predicted. Accordingly, reconciliations to the non-GAAP guidance measures is not available without unreasonable effort. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view non-GAAP net loss and non-GAAP net loss per share in conjunction with net loss and net loss per share.

Operating Metrics
This press release also includes certain operating metrics that we believe are useful in providing additional information in assessing the overall performance of our business.

Customer count is defined as the total number of customers with contracts executed as of the last day of the reporting period and a unique administrative account identifier on the Yext platform. We believe that customer count provides insight into our ability to grow our enterprise and mid-market customer base. As such, customer count excludes third-party reseller customers and small businesses customers as well as customers only receiving free trials. 

Structured facts represent all of the discrete data elements provided by our customers and stored in the Yext Knowledge Graph. For example, a customer's opening hours from Monday through Friday are reflected as five structured facts. We believe the number of structured facts provides insight into our customers' level of engagement of our platform.

Annual recurring revenue, or ARR, is defined as the annualized recurring amount of all contracts executed as of the last day of the reporting period. The recurring amount of a contract is determined based upon the terms of a contract and is calculated by dividing the amount of a contract by the term of the contract and then annualizing such amount.  The calculation assumes no subsequent changes to the existing subscription and excludes amounts related to overages above the contractual minimum commitment. Contracts include portions of professional services contracts that are recurring in nature. ARR is independent of historical revenue, unearned revenue, remaining performance obligations or any other GAAP financial measure over any period. It should be considered in addition to, not as a substitute for, nor superior to or in isolation from, these measures and other measures prepared in accordance with GAAP. We believe ARR provides insight into the performance of our recurring revenue business model while mitigating for fluctuations in billing and contract terms.

For Further Information Contact:

Investor Relations:
Yuka Broderick
IR@yext.com

Public Relations:
Amanda Kontor
PR@yext.com

YEXT, INC.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)
	October 31, 2020			January 31, 2020
Assets
Current assets:
Cash and cash equivalents	$	208,996		$	256,076
Accounts receivable, net of allowances of $2,754 and $995, respectively	48,687			80,583
Prepaid expenses and other current assets	17,631			12,730
Costs to obtain revenue contracts, current	29,114			28,423
Total current assets	304,428			377,812
Restricted cash	—			12,100
Property and equipment, net	71,948			26,200
Operating lease right-of-use assets	106,889			111,973
Costs to obtain revenue contracts, non-current	21,046			26,051
Goodwill	4,714			4,534
Intangible assets, net	886			1,343
Other long term assets	5,030			3,607
Total assets	$	514,941		$	563,620
Liabilities and stockholders' equity
Current liabilities:
Accounts payable, accrued expenses and other current liabilities	$	47,633		$	59,482
Unearned revenue, current	128,709			176,806
Operating lease liabilities, current	6,801			8,640
Total current liabilities	183,143			244,928
Operating lease liabilities, non-current	123,651			115,187
Other long term liabilities	7,484			2,293
Total liabilities	314,278			362,408
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value per share; 50,000,000 shares authorized at October 31, 2020 and January 31, 2020; zero shares issued and outstanding at October 31, 2020 and January 31, 2020	—			—
Common stock, $0.001 par value per share; 500,000,000 shares authorized at October 31, 2020 and January 31, 2020; 128,681,015 and 122,335,709 shares issued at October 31, 2020 and January 31, 2020, respectively; 122,175,681 and 115,830,375 shares outstanding at October 31, 2020 and January 31, 2020, respectively	129			122
Additional paid-in capital	711,413			636,008
Accumulated other comprehensive income (loss)	60			(360)
Accumulated deficit	(499,034)			(422,653)
Treasury stock, at cost	(11,905)			(11,905)
Total stockholders' equity	200,663			201,212
Total liabilities and stockholders' equity	$	514,941		$	563,620

 

 

YEXT, INC.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share data)
(Unaudited)
	Three months ended October 31,						Nine months ended October 31,
	2020			2019			2020			2019
Revenue	$	89,061		$	76,370		$	262,467		$	217,451
Cost of revenue	21,639			20,366			64,807			56,108
Gross profit	67,422			56,004			197,660			161,343
Operating expenses:
Sales and marketing	56,646			61,969			171,215			160,738
Research and development	14,475			13,011			43,641			35,603
General and administrative	18,061			23,857			57,993			57,392
Total operating expenses	89,182			98,837			272,849			253,733
Loss from operations	(21,760)			(42,833)			(75,189)			(92,390)
Interest income	9			1,129			524			3,412
Interest expense	(184)			(81)			(475)			(213)
Other expense, net	(38)			(682)			(545)			(1,091)
Loss from operations before income taxes	(21,973)			(42,467)			(75,685)			(90,282)
(Provision for) benefit from income taxes	(68)			(250)			(696)			(685)
Net loss	$	(22,041)		$	(42,717)		$	(76,381)		$	(90,967)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.18)		$	(0.38)		$	(0.64)		$	(0.82)
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted	120,721,555			113,464,608			118,594,452			110,610,473
Other comprehensive (loss) income:
Foreign currency translation adjustment	$	(497)		$	1,585		$	420		$	1,000
Unrealized (loss) gain on marketable securities, net	—			(2)			—			40
Total comprehensive loss	$	(22,538)		$	(41,134)		$	(75,961)		$	(89,927)

 

 

YEXT, INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
	Nine months ended October 31,
	2020			2019
Operating activities:
Net loss	$	(76,381)		$	(90,967)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	7,539			5,836
Bad debt expense	2,376			297
Stock-based compensation expense	53,889			50,917
Amortization of operating lease right-of-use assets	9,367			8,039
Other, net	589			(7)
Changes in operating assets and liabilities:
Accounts receivable	30,302			15,908
Prepaid expenses and other current assets	(5,023)			888
Costs to obtain revenue contracts	4,743			(6,196)
Other long term assets	(1,350)			(1,681)
Accounts payable, accrued expenses and other current liabilities	(7,192)			3,161
Unearned revenue	(49,592)			(27,531)
Operating lease liabilities	2,526			(1,576)
Other long term liabilities	4,485			478
Net cash used in operating activities	(23,722)			(42,434)
Investing activities:
Maturities of marketable securities	—			51,197
Capital expenditures	(53,946)			(7,347)
Net cash (used in) provided by investing activities	(53,946)			43,850
Financing activities:
Proceeds from common stock offering, net of underwriting discounts and commissions	—			147,000
Payments of common stock deferred offering costs	—			(530)
Proceeds from exercise of stock options	13,145			12,513
Payments of deferred financing costs	(869)			(260)
Proceeds, net from employee stock purchase plan withholdings	4,811			5,078
Net cash provided by financing activities	17,087			163,801
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,401			(118)
Net (decrease) increase in cash, cash equivalents and restricted cash	(59,180)			165,099
Cash, cash equivalents and restricted cash at beginning of period	268,176			91,755
Cash, cash equivalents and restricted cash at end of period	$	208,996		$	256,854
Supplemental reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets:
(in thousands)	October 31, 2020			October 31, 2019
Cash and cash equivalents	$	208,996		$	244,754
Restricted cash	—			12,100
Total cash, cash equivalents and restricted cash	$	208,996		$	256,854

 

 

YEXT, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands)
(Unaudited)
	Three months ended October 31, 2020
Costs and expenses	GAAP			Stock-Based Compensation Expense			Non-GAAP
Cost of revenue	$	21,639		$	(1,513)		$	20,126
Sales and marketing	$	56,646		$	(9,410)		$	47,236
Research and development	$	14,475		$	(4,228)		$	10,247
General and administrative	$	18,061		$	(4,136)		$	13,925
	Three months ended October 31, 2019
Costs and expenses	GAAP			Stock-Based Compensation Expense			Non-GAAP
Cost of revenue	$	20,366		$	(1,176)		$	19,190
Sales and marketing	$	61,969		$	(8,604)		$	53,365
Research and development	$	13,011		$	(3,630)		$	9,381
General and administrative	$	23,857		$	(7,682)		$	16,175
	Nine months ended October 31, 2020
Costs and expenses	GAAP			Stock-Based Compensation Expense			Non-GAAP
Cost of revenue	$	64,807		$	(4,053)		$	60,754
Sales and marketing	$	171,215		$	(25,151)		$	146,064
Research and development	$	43,641		$	(12,104)		$	31,537
General and administrative	$	57,993		$	(12,581)		$	45,412
	Nine months ended October 31, 2019
Costs and expenses	GAAP			Stock-Based Compensation Expense			Non-GAAP
Cost of revenue	$	56,108		$	(2,982)		$	53,126
Sales and marketing	$	160,738		$	(23,673)		$	137,065
Research and development	$	35,603		$	(9,260)		$	26,343
General and administrative	$	57,392		$	(15,002)		$	42,390

 

 

YEXT, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands)
(Unaudited)
	Three months ended October 31,						Nine months ended October 31,
	2020			2019			2020			2019
Gross profit
GAAP gross profit	$	67,422		$	56,004		$	197,660		$	161,343
Plus: Stock-based compensation expense	1,513			1,176			4,053			2,982
Non-GAAP gross profit	$	68,935		$	57,180		$	201,713		$	164,325
Gross margin
GAAP gross margin	75.7%			73.3%			75.3%			74.2%
Plus: Stock-based compensation expense	1.7%			1.6%			1.6%			1.4%
Non-GAAP gross margin	77.4%			74.9%			76.9%			75.6%
Operating expenses
GAAP operating expenses	$	89,182		$	98,837		$	272,849		$	253,733
Less: Stock-based compensation expense	(17,774)			(19,916)			(49,836)			(47,935)
Non-GAAP operating expenses	$	71,408		$	78,921		$	223,013		$	205,798
Operating expenses as a percentage of total revenue
GAAP operating expenses as a percentage of total revenue	100%			129%			104%			117%
Less: Stock-based compensation expense		(20)%		(26)%			(19)%			(22)%
Non-GAAP operating expenses as a percentage of total revenue	80%			103%			85%			95%

 

 

YEXT, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except share and per share data)
(Unaudited)
	Three months ended October 31,
	2020			2019
GAAP net loss	$	(22,041)		$	(42,717)
Plus: Stock-based compensation expense	19,287			21,092
Non-GAAP net loss	$	(2,754)		$	(21,625)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.18)		$	(0.38)
Stock-based compensation expense per share	0.16			0.19
Non-GAAP net loss per share attributable to common stockholders, basic and diluted	$	(0.02)		$	(0.19)
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted	120,721,555			113,464,608
	Three months ended October 31,
	2020			2019
GAAP net loss as a percentage of total revenue	(24.7)%			(55.9)%
Plus: Stock-based compensation expense	21.6%			27.6%
Non-GAAP net loss as a percentage of total revenue	(3.1)%			(28.3)%
	Nine months ended October 31,
	2020			2019
GAAP net loss	$	(76,381)		$	(90,967)
Plus: Stock-based compensation expense	53,889			50,917
Non-GAAP net loss	$	(22,492)		$	(40,050)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.64)		$	(0.82)
Stock-based compensation expense per share	0.45			0.46
Non-GAAP net loss per share attributable to common stockholders, basic and diluted	$	(0.19)		$	(0.36)
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted	118,594,452			110,610,473
	Nine months ended October 31,
	2020			2019
GAAP net loss as a percentage of total revenue	(29.1)%			(41.8)%
Plus: Stock-based compensation expense	20.5%			23.4%
Non-GAAP net loss as a percentage of total revenue	(8.6)%			(18.4)%

 

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SOURCE Yext, Inc.

FAQ

What are Yext's Q3 fiscal 2021 revenue results?

Yext reported a revenue of $89.1 million for the third quarter of fiscal 2021, up 17% from the previous year.

How did Yext's gross profit change in Q3 fiscal 2021?

Gross profit increased by 20% to $67.4 million in Q3 fiscal 2021.

What is Yext's projected revenue for Q4 fiscal 2021?

Yext projects its revenue for Q4 fiscal 2021 to be between $87 million and $89 million.

What was Yext's annual recurring revenue (ARR) as of October 31, 2020?

Yext's annual recurring revenue (ARR) was $346 million, an 18% increase year-over-year.