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NEW YORK - Yext, Inc. (NYSE:YEXT) reported first quarter earnings that met analyst expectations while revenue topped estimates, as the digital presence platform saw solid execution and growing interest in its expanding offerings.
The company posted adjusted earnings per share of $0.13, in line with the analyst consensus of $0.13. Revenue came in at $109.5 million, beating the Street estimate of $107.6 million and up 14% year-over-year.
"Our first quarter results demonstrate solid execution and growing interest in our expanding platform," said Michael Walrath, Yext Chairman and CEO. "We exceeded guidance on both revenue and profitability, delivered record Adjusted EBITDA, and saw encouraging early adoption of new offerings."
Yext reported Adjusted EBITDA of $24.7 million for the quarter, resulting in an Adjusted EBITDA margin of 23%. The company raised its full year Adjusted EBITDA guidance to a range of $103 million to $105 million.
Annual recurring revenue (ARR) stood at $446.5 million at quarter-end. The company’s dollar-based net retention rate for total customers was 95% in Q1.
Yext shares edged down 0.4% in after-hours trading following the earnings release. The minor stock move suggests investors viewed the results as largely in-line with expectations.
For the second quarter, Yext expects revenue between $109 million and $110 million and adjusted EPS of $0.05 to $0.06.
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