Q4 FY23 Revenue of $101.9 Million, Increased 1% Year-over-Year or 3% on a Constant Currency Basis
Full Year FY23 Revenue of $400.9 Million, Increased 3% Year-over-Year or 5% on a Constant Currency Basis
Q4 FY23 Net Loss Per Share of $0.06 or Non-GAAP Earnings Per Share of $0.05
ARR of $400 Million, Increased 3% Year-over-Year or 4% on a Constant Currency Basis
Customer Count Increased 7% Year-over-Year to Over 2,960
Cash and Cash Equivalents of $190 Million
NEW YORK, March 07, 2023--(BUSINESS WIRE)--Yext, Inc. (NYSE: YEXT), the Answers Company, today announced its results for the three months ended January 31, 2023, or the Company's fourth quarter and fiscal year ended January 31, 2023.
"We're proud of our performance in the fourth quarter, and we demonstrated continued operating efficiency and our second consecutive quarter of non-GAAP profitability," said Michael Walrath, CEO and Chair of the Board. "Throughout fiscal year 2023, we drove transformation across our business through continued product innovation, focused execution, and improved productivity. We strengthened our commitment to solving customer pain points and drove increased adoption of our platform. Our focus remains on building for the long term, and we are now in an excellent position to deliver increasing value to our customers, partners, and shareholders."
Fourth Quarter Fiscal 2023 Highlights:
Revenue of $101.9 million, a 1% increase, compared to $100.9 million reported in the fourth quarter fiscal 2022. Fourth quarter fiscal 2023 revenue included a negative impact of approximately $2.3 million from foreign currency exchange rates on a constant currency basis.
Gross Profit of $75.4 million, a 1% decrease, compared to $76.4 million reported in the fourth quarter fiscal 2022. Gross margin of 74.0%, compared to 75.7% reported in the fourth quarter fiscal 2022.
Net Loss and Non-GAAP Net Income/Loss:
Net loss of $7.8 million, compared to the net loss of $23.1 million in the fourth quarter fiscal 2022.
Non-GAAP net income of $6.3 million, compared to the non-GAAP net loss of $4.1 million in the fourth quarter fiscal 2022.
Net Loss Per Share and Non-GAAP Net Income/Loss Per Share:
Net loss per share attributable to common stockholders, basic and diluted, of $0.06 based on 122.3 million weighted average basic and diluted shares outstanding, compared to net loss per share attributable to common stockholders, basic and diluted, of $0.18 based on 130.3 million weighted average basic and diluted shares outstanding in the fourth quarter fiscal 2022.
Non-GAAP net income per share attributable to common stockholders, basic and diluted, of $0.05 based on 122.3 million weighted average basic shares outstanding and 124.2 million weighted average diluted shares outstanding, respectively. This compares to non-GAAP net loss per share attributable to common stockholders, basic and diluted, of $0.03 based on 130.3 million weighted average basic and diluted shares outstanding in the fourth quarter fiscal 2022