Wed, Sep 4, 9:04 PM (132 days ago)
Yext, Inc. reported a decline in quarterly revenue, totaling $97.9 million for Q2 FY2025, down 5% from $102.6 million in the same period last year, attributed primarily to the loss of a significant customer. The gross profit margin decreased to 77.2%, while operating expenses remained stable at $83.2 million. The net loss for the quarter was $4.1 million, compared to $3.4 million in the prior year. Cash flow from operations improved to $27.7 million, driven by favorable changes in accounts receivable. The company has initiated a restructuring plan, reducing its workforce by 12%, incurring approximately $5 million in related costs. Yext has also completed the acquisition of Hearsay Social for $125 million, with potential earnouts of up to $75 million based on performance metrics. The company maintains a strong liquidity position with $234.8 million in cash and equivalents, ensuring operational stability despite macroeconomic uncertainties. Future growth strategies include enhancing product offerings and expanding customer reach, although challenges remain due to competitive pressures and evolving market conditions.