# Yext, Inc. (YEXT)

Informational only - not investment advice.

CIK: 0001614178
SIC: 7374 Services-Computer Processing & Data Preparation
SIC breadcrumb: [Services](/division/I/) > [Business Services](/major-group/73/) > [SIC 7374 Services-Computer Processing & Data Preparation](/industry/7374/)
Latest 10-K filed: 2026-03-10
SEC page: https://www.sec.gov/edgar/browse/?CIK=1614178
Filing source: https://www.sec.gov/Archives/edgar/data/1614178/000162828026016402/yext-20260131.htm

## At a glance

FY2026 · period end 2026-01-31 · filed 2026-03-10 · accession 0001628280-26-016402 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001614178.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 446,579,000 USD | 2026 | verified |
| Net income | 37,871,000 USD | 2026 | verified |
| Assets | 621,776,000 USD | 2026 | verified |
| Free cash flow | 53,290,000 USD | 2026 | computed |
| Net margin | 8.48% | 2026 | computed |
| Operating margin | 9.98% | 2026 | computed |
| Revenue YoY | +6.09% | 2026 | computed |
| ROE | 23.76% | 2026 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2026 revenue ÷ FY2025 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | YEXT | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 8.5% | 5.8% | 61 | 29 |
| Operating margin | 10.0% | 7.7% | 67 | 28 |
| Revenue growth | 6.1% | 10.0% | 24 | 30 |
| FCF margin | 11.9% | 17.5% | 29 | 29 |
| ROE | 23.8% | 14.1% | 73 | 27 |
| ROA | 6.1% | 5.0% | 52 | 30 |
| Liabilities / equity | 2.90 | 1.28 | 81 | 27 |
| Current ratio | 1.07 | 1.64 | 24 | 30 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 7374 Services-Computer Processing & Data Preparation, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 446579000 | USD | 2026 | 2026-03-10 |
| Net income | 37871000 | USD | 2026 | 2026-03-10 |
| Assets | 621776000 | USD | 2026 | 2026-03-10 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-10. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001614178.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 124,261,000 | 170,201,000 | 228,283,000 | 298,829,000 | 354,661,000 | 390,577,000 | 400,850,000 | 404,322,000 | 420,957,000 | 446,579,000 |
| Net income | -43,150,000 | -66,565,000 | -74,837,000 | -121,544,000 | -94,692,000 | -93,259,000 | -65,938,000 | -2,630,000 | -27,948,000 | 37,871,000 |
| Operating income | -42,700,000 | -66,640,000 | -75,645,000 | -122,953,000 | -94,332,000 | -89,959,000 | -64,828,000 | -6,201,000 | -32,448,000 | 44,549,000 |
| Gross profit | 87,311,000 | 126,106,000 | 170,870,000 | 221,799,000 | 268,257,000 | 292,278,000 | 296,890,000 | 316,854,000 | 324,593,000 | 332,511,000 |
| Diluted EPS |  |  |  |  | -0.79 | -0.73 | -0.53 | -0.02 | -0.22 | 0.07 |
| Operating cash flow | -13,532,000 | -32,409,000 | 5,240,000 | -30,768,000 | 1,204,000 | 21,849,000 | 17,853,000 | 46,157,000 | 50,211,000 | 55,847,000 |
| Capital expenditures | 3,505,000 | 3,674,000 | 5,270,000 | 11,889,000 | 65,111,000 | 13,418,000 | 6,193,000 | 2,728,000 | 2,085,000 | 2,557,000 |
| Share buybacks |  |  |  |  | 0.00 | 0.00 | 77,250,000 | 23,086,000 | 17,907,000 | 67,431,000 |
| Assets | 86,465,000 | 203,489,000 | 267,128,000 | 563,620,000 | 595,989,000 | 620,335,000 | 523,761,000 | 508,810,000 | 610,078,000 | 621,776,000 |
| Liabilities | 93,605,000 | 122,036,000 | 182,579,000 | 362,408,000 | 388,754,000 | 408,465,000 | 395,738,000 | 361,636,000 | 456,885,000 | 462,355,000 |
| Stockholders' equity | -127,755,000 | 81,453,000 | 84,549,000 | 201,212,000 | 207,235,000 | 211,870,000 | 128,023,000 | 147,174,000 | 153,193,000 | 159,421,000 |
| Cash and cash equivalents | 24,420,000 | 34,367,000 | 91,755,000 | 256,076,000 | 230,411,000 | 261,210,000 | 190,214,000 | 210,184,000 | 123,133,000 | 154,123,000 |
| Free cash flow | -17,037,000 | -36,083,000 | -30,000 | -42,657,000 | -63,907,000 | 8,431,000 | 11,660,000 | 43,429,000 | 48,126,000 | 53,290,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | -34.73% | -39.11% | -32.78% | -40.67% | -26.70% | -23.88% | -16.45% | -0.65% | -6.64% | 8.48% |
| Operating margin | -34.36% | -39.15% | -33.14% | -41.14% | -26.60% | -23.03% | -16.17% | -1.53% | -7.71% | 9.98% |
| Return on equity |  | -81.72% | -88.51% | -60.41% | -45.69% | -44.02% | -51.50% | -1.79% | -18.24% | 23.76% |
| Return on assets | -49.90% | -32.71% | -28.02% | -21.56% | -15.89% | -15.03% | -12.59% | -0.52% | -4.58% | 6.09% |
| Liabilities / equity |  | 1.50 | 2.16 | 1.80 | 1.88 | 1.93 | 3.09 | 2.46 | 2.98 | 2.90 |
| Current ratio | 0.74 | 1.52 | 1.28 | 1.54 | 1.45 | 1.41 | 1.19 | 1.34 | 0.83 | 1.07 |

## As-reported value updates

1 tracked difference above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/YEXT/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-06-02. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001614178.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2023-Q2 | 2022-07-31 |  |  | -0.16 | reported discrete quarter |
| 2023-Q3 | 2022-10-31 |  |  | -0.10 | reported discrete quarter |
| 2024-Q1 | 2023-04-30 |  |  | 0.00 | reported discrete quarter |
| 2024-Q2 | 2023-04-30 |  | -412,000 |  | reported discrete quarter |
| 2024-Q2 | 2023-07-31 | 102,598,000 |  | -0.03 | reported discrete quarter |
| 2024-Q3 | 2023-07-31 |  | -3,437,000 |  | reported discrete quarter |
| 2024-Q3 | 2023-10-31 | 101,164,000 |  | 0.00 | reported discrete quarter |
| 2024-Q4 | 2024-01-31 | 101,107,000 | 1,687,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2024-04-30 | 95,990,000 | -3,817,000 | -0.03 | reported discrete quarter |
| 2025-Q2 | 2024-07-31 | 97,887,000 | -4,057,000 | -0.03 | reported discrete quarter |
| 2025-Q3 | 2024-10-31 | 113,989,000 | -12,799,000 | -0.10 | reported discrete quarter |
| 2025-Q4 | 2025-01-31 | 113,091,000 | -7,275,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2025-04-30 | 109,483,000 | 770,000 | 0.01 | reported discrete quarter |
| 2026-Q2 | 2025-07-31 | 113,094,000 | 26,751,000 | 0.03 | reported discrete quarter |
| 2026-Q3 | 2025-10-31 | 111,998,000 | 6,136,000 | 0.01 | reported discrete quarter |
| 2026-Q4 | 2026-01-31 | 112,004,000 | 4,214,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2027-Q1 | 2026-04-30 | 107,917,000 | 2,625,000 | 0.02 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from YEXT's latest 10-K: [/company/YEXT/business/](/company/YEXT/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from YEXT's latest 10-K: [/company/YEXT/risk-factors/](/company/YEXT/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1614178/000162828026039788/yext-20260430.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-06-02
Report date: 2026-04-30

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the Securities and Exchange Commission ("SEC") on March 10, 2026. As discussed in the section titled "Special Note Regarding Forward Looking Statements," the following discussion and analysis contains forward looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed in the section titled "Risk Factors" under Part II, Item 1A in this Quarterly Report on Form 10-Q.

Overview

Yext empowers businesses to manage their knowledge so they can deliver relevant, actionable answers to consumer questions as well as consistent, accurate and engaging experiences to customers throughout the digital ecosystem. Our digital presence platform (also known as the Answers Platform) lets businesses structure and organize information about their brands in our Knowledge Graph (previously known as Yext Content), which is then delivered across first-and third-party websites and applications through our network of over 200 service and application providers, which we refer to as our Publisher Network. These publishers include, among others, Amazon Alexa, Apple, Bing, Facebook, Google Business Profile, OpenAI, and Yelp. Our platform powers all of our key products, including Listings, Reviews, Pages, Search, Social, Relate, and Scout, each with robust analytics capabilities for businesses to easily track performance across customer experiences. It is our mission to empower businesses to easily manage every aspect of their digital presence to make meaningful connections with their customers across every digital touchpoint.

We sell our platform throughout the world to customers of all sizes, including our enterprise, mid-size, and third-party reseller customers. In transactions with resellers, we are only party to the transaction with the reseller and are not a party to the reseller's transaction with its customer.

Revenue is a function of the number of customers, the number of licenses or capacity purchased by each customer, the package to which each customer subscribes, the price of the package and renewal rates. We offer subscriptions in a discrete range of packages, with pricing based on specified feature sets and the number of licenses managed by the customer as well as on a capacity-basis.

Fiscal Year

Our fiscal year ends on January 31st. References to fiscal 2027, for example, are to the fiscal year ending January 31, 2027.

Macroeconomic Conditions

Our results of operations have been and may continue to be influenced by general macroeconomic conditions, including, but not limited to, the impact of foreign currency fluctuations, interest rates, inflation, recession risks, tariffs and other trade restrictions, geopolitical events and shifts, and changes in government administration policy positions. Fluctuations in foreign exchange rates and rising inflation have had, and may continue to have an adverse impact on our financial condition and operating results in future periods. The extent to which such disruptions will continue in future periods remains uncertain, which has had and may continue to have an adverse impact on our financial condition and operating results in future periods. We continue to be committed to our business, the strength of our platform, our ability to continue to execute on our strategy, and our efforts to support our customers.

Near-term revenues are relatively predictable as a result of our subscription-based business model. However, if the macroeconomic uncertainty continues or further increases, we may continue to experience a negative impact on existing and potential customers that may reduce, suspend or delay technology spending, request to renegotiate contracts to obtain concessions such as, extended billing and payment terms; shorten the duration of contracts; or elect not to renew their subscriptions which could materially adversely impact our business, financial condition and results of operations in future periods. Therefore, changes in our contracting activity in the near term may not be fully reflected in our results of operations and overall financial performance until future periods.

Recent Developments

On February 10, 2026, we announced the commencement of an issuer self-tender offer (the "Tender Offer") to purchase for cash up to $180.0 million in value of shares of our common stock at a price of not less than $5.75 nor greater than $6.50 per share, to the seller in cash, less any applicable withholdings and without interest. The Tender Offer was originally scheduled to expire on March 12, 2026. On March 4, 2026, we decreased the maximum aggregate purchase price of shares to be repurchased in the Tender Offer to $140.0 million and extended the expiration date to March 18, 2026. On March 23, 2026, we completed the Tender Offer and repurchased 24,347,825 shares at a price of $5.75 per share for a total amount of $140.0 million, excluding excise tax, direct fees and expenses related to the Tender Offer. On March 6, 2026, we borrowed $50.0 million under the Delayed Draw Term Loan Facility pursuant to the May 2025 Credit Agreement and used the proceeds in connection with the Tender Offer.

See Part II Item 1A “Risk Factors” for further discussion of the possible impact of the current macroeconomic conditions and recent developments on our business.

24

Key Metrics

We monitor the following key operational and financial metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.

Annual Recurring Revenue ("ARR")

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 where relevant, includes the annualized contractual minimum commitment and amounts related to usage above the contractual minimum commitment. We calculate usage by annualizing monthly amounts in excess of contractual minimum commitments in the current month. 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 accounting principles generally accepted in the United States of America, ("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-based metrics provide insight into the performance of our recurring revenue business model while mitigating fluctuations in billing and contract terms.

The cohorts of customers that we present ARR for include customers with ARR of less than $50,000, customers with ARR of $50,000 or more, and total customers. The cohort designation is based on the designation as of the 12 months prior to the end of the current period and does not reflect changes in cohort designation that may occur through the current period.

The following table provides our ARR for the periods presented:

[[GREPCENT_TABLE]]
[["","April 30,","","Variance"],["(in thousands)","2026","","2025","","Dollars","","Percent"],["Customers with less than $50,000","$","37,690","","","$","46,453","","","$","(8,763)","","","(19","%)"],["Customers with $50,000 or more","403,111","","","400,016","","","3,095","","","1","%"],["Total ARR","$","440,801","","","$","446,469","","","$","(5,668)","","","(1","%)"]]
[[/GREPCENT_TABLE]]

Dollar-Based Net Retention Rate

We believe that our ability to retain our customers and expand the ARR they generate for us over time is an important component of our growth strategy and reflects the long term value of our customer relationships. We assess our performance in this area using a metric we refer to as our dollar-based net retention rate, which compares the ARR from a set of subscription customers across comparable periods.

This metric is calculated first by determining the ARR generated 12 months prior to the end of the current period for a cohort of customers who had active contracts at that time. We then calculate ARR from the same cohort of customers at the end of the current period, which includes customer expansion, contraction and churn. The current period ARR is then divided by the prior period ARR to arrive at our dollar-based net retention rate. Any ARR obtained through merger and acquisition transactions does not affect the dollar-based net retention rate until one year from the date on which the transaction closed. The cohorts of customers that we present dollar-based net retention rate for include customers with ARR of less than $50,000, customers with ARR of $50,000 or more, and total customers. The cohort designation is based on the designation as of the 12 months prior to the end of the current period and does not reflect changes in cohort designation that may occur through the current period.

25

The following table provides our dollar-based net retention rate for the periods presented:

[[GREPCENT_TABLE]]
[["","April 30,"],["","2026","","2025"],["Customers with less than $50,000","86%","","93%"],["Customers with $50,000 or more","97%","","96%"],["Total Customers","95%","","95%"]]
[[/GREPCENT_TABLE]]

Dollar-Based Gross Retention Rate

We also evaluate our ability to retain customers and the ARR they generate for us over time, excluding the impact of expansion. We assess our performance in this area using a metric we refer to as dollar-based gross retention rate. We believe this metric provides insight into the stability of our customer base and our ability to deliver sustained value to customers independent of growth through expansion.

This metric is calculated by first determining the ARR generated 12 months prior to the end of the current period for a cohort of customers who had active contracts at that time. We then calculate ARR from the same cohort of customers at the end of the current period, which includes customer contraction and churn, and excludes customer expansion. The current period ARR is then divided by the prior period ARR to arrive at our dollar-based gross retention rate. The cohort of customers that we present dollar-based gross retention rate for include customers with ARR of less than $50,000, customers with ARR of $50,000 or more, and total customers. The cohort designation is based on the designation as of the 12 months prior to the end of the current period and does not reflect changes in cohort designation that may occur through the current period.

The following table provides our dollar-based gross retention rate for the periods presented:

[[GREPCENT_TABLE]]
[["","April 30,"],["","2026","","2025"],["Customers with less than $50,000","71%","","79%"],["Customers with $50,000 or more","89%","","88%"],["Total Customers","88%","","87%"]]
[[/GREPCENT_TABLE]]

26

Components of Results of Operations

Revenue

We derive our revenue primarily from subscription and associated support to our platform. Our contracts are typically one year in length, but may be up t

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1614178/000162828026016402/yext-20260131.htm
Complete FY 2026 MD&A: /company/YEXT/mda/fy2026/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-03-10
Report date: 2026-01-31

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes appearing elsewhere in this Annual Report on Form 10-K. As discussed in the section titled "Special Note Regarding Forward Looking Statements," the following discussion and analysis contains forward looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed in the section titled "Risk Factors" under Part I, Item 1A in this Annual Report on Form 10-K.

Overview

Yext empowers businesses to manage their knowledge so they can deliver relevant, actionable answers to consumer questions as well as consistent, accurate and engaging experiences to customers throughout the digital ecosystem. Our digital presence platform (also known as the Answers Platform) lets businesses structure and organize information about their brands in our Knowledge Graph (previously known as Yext Content), which is then delivered across first-and third-party websites and applications through our network of over 200 service and application providers, which we refer to as our Publisher Network. These publishers include, among others, Amazon Alexa, Apple, Bing, Facebook, Gemini, Google, OpenAI, and Yelp. Our platform powers all of our key products, including Listings, Reviews, Pages, Search, Social, Relate, and Scout, each with robust analytics capabilities for businesses to easily track performance across customer experiences. It is our mission to empower businesses to easily manage every aspect of their digital presence to make meaningful connections with their customers across every digital touchpoint.

We sell our platform throughout the world to customers of all sizes, including our enterprise, mid-size, and third-party reseller customers. In transactions with resellers, we are only party to the transaction with the reseller and are not a party to the reseller's transaction with its customer.

Revenue is a function of the number of customers, the number of licenses or capacity purchased by each customer, the package to which each customer subscribes, the price of the package and renewal rates. We offer subscriptions in a discrete range of packages, with pricing based on specified feature sets and the number of licenses managed by the customer as well as on a capacity-basis.

In August 2024, we acquired Hearsay Social, Inc., a digital client engagement platform for financial services ("Hearsay"). See Note 4 "Business Combinations" to our consolidated financial statements for additional information.

Fiscal Year

Our fiscal year ends on January 31st. References to fiscal 2026, for example, are to the fiscal year ended January 31, 2026.

Macroeconomic Conditions

Our results of operations have been and may continue to be influenced by general macroeconomic conditions, including, but not limited to, the impact of foreign currency fluctuations, interest rates, inflation, recession risks, tariffs and other trade restrictions, geopolitical events and shifts, and changes in government administration policy positions. Fluctuations in foreign exchange rates and rising inflation have had, and may continue to have an adverse impact on our financial condition and operating results in future periods. The extent to which such disruptions will continue in future periods remains uncertain, which has had and may continue to have an adverse impact on our financial condition and operating results in future periods. We continue to be committed to our business, the strength of our platform, our ability to continue to execute on our strategy, and our efforts to support our customers.

Near-term revenues are relatively predictable as a result of our subscription-based business model. However, if the macroeconomic uncertainty continues or further increases, we may continue to experience a negative impact on existing and potential customers that may reduce, suspend or delay technology spending, request to renegotiate contracts to obtain concessions such as, extended billing and payment terms; shorten the duration of contracts; or elect not to renew their subscriptions which could materially adversely impact our business, financial condition and results of operations in future periods. Therefore, changes in our contracting activity in the near term may not be fully reflected in our results of operations and overall financial performance until future periods.

Recent Developments

On February 10, 2026, we commenced an issuer self-tender offer (the “Tender Offer”) to purchase for cash up to $180.0 million in value of shares of our common stock at a price of not less than $5.75 nor greater than $6.50 per share, upon the terms and subject to the conditions described in the offer to purchase and the related letter of transmittal filed with the SEC on February 10, 2026, as each may be amended time to time. The Tender Offer was originally scheduled to expire on March 12, 2026, unless the offer was extended or terminated. On March 4, 2026, we decreased the maximum aggregate purchase price of shares to be repurchased in the Tender Offer to $140.0 million and extended the expiration date to March 18, 2026, unless further extended or earlier terminated.

45

On August 18, 2025, we announced that Michael Walrath, Yext's Chief Executive Officer and Chairman on the Board of Directors, submitted a non-binding proposal to acquire all outstanding shares of Yext not already owned by him at a price of $9.00 per share in cash. Our Board of Directors formed a Special Committee of independent directors to evaluate the proposal, advised by independent legal and financial advisers. On February 2, 2026, we announced that Michael Walrath, our Chief Executive Officer and Chairman of the Board of Directors, had withdrawn his previously announced non-binding proposal.

On May 15, 2025, we entered into a credit agreement with funds and accounts managed by BlackRock as lenders, and Acquiom Agency Services LLC, as Administrative Agent (the “May 2025 Credit Agreement”), which provides for term loan facilities in aggregate principal amounts of up to $200.0 million. In connection with entry into the May 2025 Credit Agreement, we borrowed $100.0 million on May 15, 2025 and used a portion of the proceeds under the May 2025 Credit Agreement to pay all outstanding principal, interest and other amounts owing under our existing credit facility with Silicon Valley Bank, which was then terminated. On March 6, 2026, we borrowed an additional $50.0 million, which we intend to use in connection with the Tender Offer. See Note 12 "Debt" to our consolidated financial statements for additional information.

On February 7, 2025, we completed an acquisition of KabanaSoft, LLC, doing business as Places Scout (“Places Scout”), for a purchase price of $20.3 million in cash, subject to customary adjustments. The acquisition strengthens Yext’s ability to provide best-in-class competitive intelligence, benchmarking, and AI-powered insights. In addition, subject to the terms of the Unit Purchase Agreement, we agreed to grant approximately $10.0 million of incentive equity, based on current trading prices of Yext’s common stock, to certain key employees of Places Scout.

See Part I Item 1A “Risk Factors” for further discussion of the possible impact of the current macroeconomic conditions and recent developments on our business.

Key Metrics

We monitor the following key operational and financial metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.

Annual Recurring Revenue ("ARR")

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 where relevant, includes the annualized contractual minimum commitment and amounts related to usage above the contractual minimum commitment. We calculate usage by annualizing monthly amounts in excess of contractual minimum commitments in the current month. 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 accounting principles generally accepted in the United States of America, ("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-based metrics provide insight into the performance of our recurring revenue business model while mitigating fluctuations in billing and contract terms.

The following table presents our ARR for customers with less than $50,000 of ARR and customers with ARR of $50,000 or more for the periods presented:

[[GREPCENT_TABLE]]
[["","January 31,","","Variance"],["(in thousands)","2026","","2025","","Dollars","","Percent"],["Customers with less than $50,000","$","40,622","","","$","47,402","","","$","(6,780)","","","(14","%)"],["Customers with $50,000 or more","403,633","","","395,260","","","8,373","","","2","%"],["Total ARR","$","444,255","","","$","442,662","","","$","1,593","","","\u2014","%"]]
[[/GREPCENT_TABLE]]

Change in ARR Presentation

Beginning in the fourth quarter of fiscal 2026 and as reflected in the immediately preceding table, we refined our presentation of ARR to show ARR for customers with ARR of less than $50,000 and for customers with ARR of $50,000 or more. This view of ARR better aligns with management's internal assessment of ARR and assists in the allocation of resources to better serve customers that

46

more meaningfully impact our business. Prior to the fourth quarter of fiscal 2026, we presented ARR for Direct customers and Third-party Reseller customers as set forth below.

The following table presents our ARR for the periods presented based on our historical presentation, which we do not expect to refer to regularly in the future:

[[GREPCENT_TABLE]]
[["","January 31,","","Variance"],["(in thousands)","2026","","2025","","Dollars","","Percent"],["Direct Customers","$","367,886","","","$","368,201","","","$","(315)","","","\u2014","%"],["Third-Party Reseller Customers","76,369","","","74,461","","","1,908","","","3","%"],["Total ARR","$","444,255","","","$","442,662","","","$","1,593","","","\u2014","%"]]
[[/GREPCENT_TABLE]]

ARR for Direct customers was defined as the annualized recurring amount of all contracts in our enterprise, mid-size and small business customer base as of the last day of the reporting period. The recurring amount of a contract was determined based upon the terms of a contract and was calculated by dividing the amount of a contract by the term of the contract and then annualizing such amount. The calculation assumed no subsequent changes to the existing subscription. Contracts included portions of professional services contracts that are recurring in nature.

ARR for Third-party Reseller customers was defined as the annualized recurring amount of all contracts with Third-party Reseller customers as of the last day of the reporting period. The recurring amount of a contract was determined based upon the terms of a contract and was calculated by dividing the

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2026 MD&A: /company/YEXT/mda/fy2026/
All MD&A years: /company/YEXT/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2025 MD&A](/company/YEXT/mda/fy2025/): filed 2025-03-13; accession 0001614178-25-000030 (https://www.sec.gov/Archives/edgar/data/1614178/000161417825000030/yext-20250131.htm)
- [FY 2024 MD&A](/company/YEXT/mda/fy2024/): filed 2024-03-13; accession 0001614178-24-000023 (https://www.sec.gov/Archives/edgar/data/1614178/000161417824000023/yext-20240131.htm)
- [FY 2023 MD&A](/company/YEXT/mda/fy2023/): filed 2023-03-17; accession 0001614178-23-000017 (https://www.sec.gov/Archives/edgar/data/1614178/000161417823000017/yext-20230131.htm)
- [FY 2022 MD&A](/company/YEXT/mda/fy2022/): filed 2022-03-18; accession 0001614178-22-000014 (https://www.sec.gov/Archives/edgar/data/1614178/000161417822000014/yext-20220131.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 7374 Services-Computer Processing & Data Preparation) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity

Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/YEXT.md · JSON record: /company/YEXT.json · verified financials: /company/YEXT/financials.json / /company/YEXT/financials.csv · machine TOC for the whole site: /llms.txt