Yext Inc · Q2 2023 earnings

Briefing

Yext's second quarter results for fiscal year 2023 were announced, demonstrating strong execution against a customer-centric strategy and progress towards profitability.

Yext reported a 3% year-over-year increase in revenue, reaching $100.9 million, and an 8% increase in customer count, exceeding 2,870. The company's ARR grew by 2% year-over-year to $387 million, and it holds $188 million in cash and cash equivalents.

• Revenue increased by 3% year-over-year to $100.9 million.
• Gross profit increased by 3% year-over-year to $73.8 million.
• Net loss improved to $20.0 million compared to $27.6 million in the second quarter of fiscal 2022.
• Cash and cash equivalents totaled $188 million.

Headline financials

Revenue & EPS history

Yext provided revenue guidance for the third quarter of fiscal 2023 to be in the range of $99.0 million to $100.0 million. Non-GAAP earnings per share is projected to be $(0.01) to $0.01 which assumes 124.4 million weighted-average basic shares outstanding. Full year revenue is projected to be in the range of $399.4 million to $401.4 million. Non-GAAP net loss per share is projected to be $0.08 to $0.06 which assumes 126.3 million weighted-average basic shares outstanding.