Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
NEW YORK - Yext, Inc. (NYSE: NYSE:YEXT) shares fell sharply, by 10.1% in after-hours trading on Monday after the digital presence platform provider reported mixed third quarter results and issued full-year revenue guidance in line with expectations.
The company posted adjusted earnings per share of $0.12 for the quarter ended October 31, missing analyst estimates of $0.14. However, revenue came in at $114 million, surpassing the consensus forecast of $99.57 million and representing a 13% year-over-year increase.
Yext attributed the revenue growth to the integration of Hearsay Systems, which it acquired earlier this year. The company's total annual recurring revenue rose 11% YoY to $441.8 million.
For the full fiscal year 2025, Yext expects revenue between $420.3 million and $420.8 million, in line with Wall Street's projection of $420.5 million.
"Our fiscal third quarter results demonstrate our continued ability to drive operating efficiencies, make significant margin improvements and generate bottom-line growth," said Mike Walrath, Yext Chairman and CEO. "We are pleased with our progress in integrating Hearsay Systems and have rolled out enhanced social capabilities to our combined customer base."
The company reported a GAAP net loss of $12.8 million, or $0.10 per share, compared to a net loss of $0.5 million, or $0.00 per share, in the same quarter last year. Adjusted EBITDA came in at $23.1 million.
Yext ended the quarter with $100.5 million in cash and cash equivalents.
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