- Yext Inc (NYSE:YEXT) reported a Q1 FY24 revenues increase of 1% Y/Y to $99.5 Million, exceeding the consensus of $98.6 million.
- Customer count rose 5% Y/Y to more than 2,970 in the quarter.
- Annual recurring revenue (ARR) grew 3% Y/Y to $398 million as of April 30, 2023.
- Gross profit rose 5% Y/Y to $78.1 million, with margins expanding to 78.5% from 75.0% a year ago.
- Adjusted EBITDA stood at $14.4 million, vs. a loss of $(3.0) million in the prior year.
- Adjusted EPS of $0.08 surpassed the consensus of $0.05.
- Operating cash flow rose to $26.7 million from $17.9 million a year ago.
- Cash and equivalents stood at $217 million at the end of the quarter.
- Outlook: For Q2 FY24, the company expects revenues of $101.5 million- $102.5 million (vs. consensus: $100.12 million), adjusted EBITDA of $11.0 million-$12.0 million, and adjusted EPS of $0.06-$0.07 (consensus: $0.05).
- For FY24, YEXT increased guidance for revenue to $404.0 million-$407.0 million (from $402.0 million-$406.0 million earlier, consensus: $403.57 million) and adjusted EPS to $0.28-$0.29 (from $0.22 -$0.23, consensus: $0.21).
- The company raised the outlook for adjusted EBITDA to $49.0 million-$51.0 million (from $44.0 million-$46.0 million earlier).
- Also Read: EXCLUSIVE: Yext Is Bringing The Future Of Web Development; A Game Changer For Designers
- Price Action: YEXT shares are trading higher by 16.67% at $11.20 premarket on the last check Wednesday.
ObsEva Announces Progress On Cost Reduction Initiatives And Stay Of Moratorium Proceedings
Transition of linzagolix program to Kissei Pharmaceutical Co., Ltd. substantially complete with approximately $16.0 million savings expected from assignment of program contracts, including $3.7 million of accounts
