Earnings Highlights and Review: Yext’s Quarterly Revenue Surged 37%

Research Desk Line-up: Coupa Software Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Yext, Inc. (NYSE: YEXT), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=YEXT, following the Company’s disclosure of its first quarter fiscal 2018 financial results on June 01, 2017. The digital knowledge management provider’s earnings numbers came in ahead of analysts’ estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Internet Software & Services industry. Pro-TD has currently selected Coupa Software Incorporated (NASDAQ: COUP) for due-diligence and potential coverage as the Company announced on June 05, 2017, its financial results for Q1 FY18. Register for a free membership today, and be among the early birds that get access to our report on Coupa Software when we publish it.

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Earnings Reviewed

For its first quarter fiscal 2018, Yext’s revenue surged 37% to $37.1 million compared to the $27.1 million reported in Q1 FY17. The Company’s revenue numbers were $1.7 million better than market projections.

The Company’s gross profit grew 50% to $27.4 million compared to the $18.3 million reported in Q1 FY17. The Company’s gross margin totaled 73.9% in the reported quarter compared to the 67.4% reported in the prior year’s corresponding quarter.

Yext reported a net loss of $16.1 million, or $0.40 per share, based on 40.5 million weighted-average shares outstanding for Q1 FY18 compared to the net loss of $9.3 million, or $0.30 per share, based on 31.0 million weighted-average shares in Q1 FY17. The Company’s loss widened due to increased operating expenses, primarily in sales and marketing, as a result of efforts to acquire new customers, and in ongoing general and administrative expenses associated with its transition to becoming a public Company.

Yext posted a non-GAAP net loss of $12.0 million, or $0.13 per share, based on 90.0 million non-GAAP shares outstanding in the reported quarter compared to the non-GAAP net loss $7.7 million, or $0.25 per share, and based on 31.0 million non-GAAP shares outstanding in the year ago comparable quarter. The Company’s reported numbers were better than Wall Street’s expectation for a loss of $0.15 per share.

“We are very pleased with Yext’s first quarter as a public company, which was highlighted by strong revenue growth of 37% as compared to the first quarter last year, the substantial expansion of gross margins, and the launch of exciting new services and features,” said Howard Lerman, Co-Founder and Chief Executive Officer of Yext.

Business Highlights

During Q1 FY18, the number of attributes managed on Yext’s digital knowledge platform crossed the 20 million marks for the first time, and the number of locations managed exceeded 1 million. The Company introduced Yext for Mortgage, a comprehensive solution for the consumer lending industry, to provide Listings, Pages, and Reviews to put loan officers in control of key descriptive information in all the places customers search for lending services.

Balance Sheet

As of April 30, 2017, Yext had cash and cash equivalents of $133.7 million, which includes the proceeds from the Company’s initial public offering. In April 2017, Yext completed its initial public offering of shares of common stock at a public offering price of $11.00 per share. After the underwriters’ exercise in full of their option to purchase additional shares, a total of 12,075,000 shares of common stock were sold for total proceeds of approximately $132.8 million from the offering before underwriting discounts, commissions, and offering expenses.

During Q1 FY18, cash used in operating activities was $8.3 million compared to cash provided by operating activities of $7.5 million in Q1 FY17. The greater use of cash reflects the Company’s increased loss compared to the prior period as well as increased use of cash for working capital, including payables and accrued expenses. The prior period also reflected a benefit of $5.8 million related to a release of restricted cash.

Financial Outlook:

For Q2 FY18, Yext is forecasting revenue to be between $40.0 million to $40.5 million. The Company expects non-GAAP net loss per share in the range of $0.13 to $0.15, which assumes 90.1 million non-GAAP common shares outstanding.

For FY18, Yext is estimating revenue to be in the band of $169.0 million to $170.0 million. The Company’s non-GAAP net loss per share is projected to be $0.48 to $0.52.

Stock Performance

At the close of trading session on Thursday, June 22, 2017, Yext’s stock price rose 1.22% to end the day at $13.24. A total volume of 654.94 thousand shares were exchanged during the session. At Thursday’s closing price, the stock’s net capitalization stands at $1.16 billion.

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