$YEXT Reports Q4 FY2023 Revenue of $190M, CEO Michael Walrath Highlights Continued Operating Efficiency and Productivity
Mar 7th 2023, 9:08 pm
Analyst Summary: Yext Inc (NYSE: YEXT) reported its results for the fiscal year ended January 31, 2023, with $190 million in revenue for its fourth quarter. The company's CEO, Michael Walrath, said Yext was "proud of our performance in the fourth quarter, and we demonstrated continued operating efficiency and our second consecutive quarter of non-GAAP profitability." The company's primary focus is to drive transformation across its business through product innovation, focused execution, and improved productivity. Yext's gross margin for the fourth quarter of 2023 was 74%, compared to 75% in Q4 2022, and the company reported a net loss per share of $0.05 based on 122.3 million weighted average basic shares outstanding and 124.2 million weighted average diluted shares outstanding, respectively. Yext continues to expand its product offerings to address customer pain points and demonstrate its commitment to serving its customers, partners, and shareholders. The company also recognized the addition of Yvette Martinez-Rea as EVP of Corporate Development to oversee strategic growth initiatives. Yext is providing guidance for its fiscal quarter ending April 30, 2023, and fiscal year ending January 31, 2024, with a projected revenue range of $402 - $406 million based on an expected 124.5 million weighted-average basic shares outstanding. Throughout the year, Yext received recognition as the best vendor across several software categories in G2's Winter '23 Reports, and it announced several key integrations, including with Apple Business Connect. Forward-looking statements in this press release include projections of revenue, non-GAAP net income (loss), shares outstanding, and Adjusted EBITDA for quarter one, fiscal year 2024, and ongoing company growth. Users should be aware that forward-looking statements are inherently uncertain and that actual events or results could differ materially from those expressed in such statements. Investors can find further details on Yext's financial outlook and non-GAAP measurements in the "Reconciliation of GAAP to Non-GAAP Financial Measures" table.