Yext, Inc. Announces Fourth Quarter and Full Year Fiscal 2020 Results

NEW YORK, March 3, 2020 /PRNewswire/ -- Yext, Inc. (NYSE: YEXT), the Search Experience Cloud company, today announced its results for the three months ended January 31, 2020, or the Company's fourth quarter of fiscal 2020, and the fiscal year ended January 31, 2020.

"We had a stunning Q4 and solid end to our fiscal year 2020. We have a terrific platform of products driving strong demand across the board," said Howard Lerman, Founder and Chief Executive Officer of Yext. "For more than a decade, we have innovated to put the truth online by putting perfect answers about our customers everywhere. We are excited to enter fiscal year 2021 with a solid platform of products and the most tenured sales team in Yext history."

Note to the reader: Yext adopted the revenue accounting standard ASC 606 for its fiscal year ended January 31, 2019 and the results for all periods presented below are reported on that basis.

Fourth Quarter Fiscal 2020 Highlights:

    --  Revenue of $81.4 million, a 28% increase compared to the $63.8 million
        reported in the fourth quarter fiscal 2019.
    --  Gross Profit of $60.5 million, a 26% increase compared to the $48.1
        million reported in the fourth quarter fiscal 2019. Gross margin of
        74.3% compared to 75.5% reported in the fourth quarter fiscal 2019.
    --  Net Loss and Non-GAAP Net Loss:
        --  Net loss of $30.6 million, compared to the net loss of $15.5 million
            in the fourth quarter fiscal 2019. The increased net loss was driven
            primarily by higher operating expenses, due to an overall increase
            in employee-related costs, as well as the impact of new lease
            arrangements, including New York, NY.
        --  Non-GAAP net loss of $13.7 million, compared to the non-GAAP net
            loss of $3.2 million in the fourth quarter fiscal 2019. The increase
            in non-GAAP net loss was primarily attributable to the higher
            operating expenses as described above.
    --  Net Loss Per Share and Non-GAAP Net Loss Per Share:
        --  Net loss per share of $0.27 in the fourth quarter fiscal 2020
            compared to net loss per share of $0.15 in the fourth quarter fiscal
            2019.
        --  Non-GAAP net loss per share of $0.12 in the fourth quarter fiscal
            2020 compared to non-GAAP net loss per share of $0.03 in the fourth
            quarter fiscal 2019.
        --  Net loss per share and non-GAAP net loss per share were based on
            115.2 million and 101.4 million weighted-average basic shares
            outstanding for the fourth quarter fiscal 2020 and fiscal 2019,
            respectively.
    --  Balance Sheet: Cash and cash equivalents of $256.1 million as of January
        31, 2020. Unearned revenue of $176.8 million as of January 31, 2020, a
        30% increase compared to $135.5 million as of January 31, 2019.
    --  Remaining Performance Obligations ("RPO"): RPO of $328.1 million as of
        January 31, 2020. RPO expected to be recognized over the next 24 months
        of $309.7 million, with the remaining balance expected to be recognized
        thereafter. RPO does not include amounts under contract subject to
        certain accounting exclusions.
    --  Cash Flow: Net cash provided by operating activities of $11.7 million
        for the fourth quarter fiscal 2020, compared to net cash provided by
        operating activities of $30.8 million for the same period of fiscal
        2019.

Full Year Fiscal 2020 Highlights:

    --  Revenue of $298.8 million, a 31% increase compared to the $228.3 million
        reported in the fiscal year ended January 31, 2019.
    --  Gross Profit of $221.8 million, a 30% increase compared to the $170.9
        million reported in the fiscal year ended January 31, 2019. Gross margin
        of 74.2% compared to the 74.9% reported in the fiscal year ended January
        31, 2019.
    --  Net Loss and Non-GAAP Net Loss:
        --  Net loss of $121.5 million, compared to the net loss of $74.8
            million in the fiscal year ended January 31, 2019. The increased net
            loss was driven primarily by higher operating expenses, due to an
            overall increase in employee-related costs, as well as the impact of
            new lease arrangements, including New York, NY.
        --  Non-GAAP net loss of $53.8 million, compared to the non-GAAP net
            loss of $30.6 million in the fiscal year ended January 31, 2019. The
            increase in non-GAAP net loss was primarily attributable to the
            higher operating expenses as described above.
    --  Net Loss Per Share and Non-GAAP Net Loss Per Share:
        --  Net loss per share of $1.09 in the fiscal year ended January 31,
            2020, compared to net loss per share of $0.76 in the fiscal year
            ended January 31, 2019.
        --  Non-GAAP net loss per share of $0.48 in the fiscal year ended
            January 31, 2020, compared to non-GAAP net loss per share of $0.31
            in the fiscal year ended January 31, 2019.
        --  Net loss per share and non-GAAP net loss per share were based on
            111.8 million and 98.4 million weighted-average basic shares
            outstanding for the fiscal year ended January 31, 2020 and 2019,
            respectively.
    --  Cash Flow: Cash used in operating activities of $30.8 million for the
        fiscal year ended January 31, 2020, compared to cash provided by
        operating activities of $5.2 million for the fiscal year ended January
        31, 2019.

Readers are encouraged to review the tables labeled "Reconciliation of GAAP to Non-GAAP Financial Measures" at the end of this release.

Recent Business Highlights:

    --  Customer count, which excludes our small business and third-party
        reseller customers, increased 38% year-over-year to over 1900.
    --  Announced our new office in Tokyo, Japan and plans to hire 100 employees
        in the country over the next five years.
    --  Appointed Norihiro Shimogaki as President and COO of Yext Japan,
        effective February 1, 2020. Shimogaki brings more than three decades of
        experience at leading technology companies to Yext, where he will lead
        the company's strategy in Japan in partnership with President and CEO of
        Yext Japan, Eiji Uda.

Financial Outlook:

Yext is also providing the following guidance for its first fiscal quarter ending April 30, 2020 and the fiscal year ending January 31, 2021.

    --  First Quarter Fiscal 2021 Outlook:
        --  Revenue is projected to be $85.0 million to $87.0 million.
        --  Non-GAAP net loss per share is projected to be $0.14 to $0.11, which
            assumes 116.7 million weighted-average basic shares outstanding.
    --  Full Year Fiscal 2021 Outlook:
        --  Revenue is projected to be $378.0 million to $382.0 million.
        --  Non-GAAP net loss per share is projected to be $0.50 to $0.45, which
            assumes 119.5 million weighted-average basic shares outstanding.

Conference Call Information
Yext will host a conference call today at 4:30 P.M. Eastern Time (1:30 P.M. Pacific Time) to discuss its financial results with the investment community. A live webcast of the call will be available on the Yext Investor Relations website at http://investors.yext.com. A live dial-in is available domestically at (877) 883-0383 and internationally at (412) 902-6506, passcode 1335406.

A replay will be available domestically at (877) 344-7529 or internationally at (412) 317-0088, passcode 10139053, until midnight (ET) March 10, 2020.

About Yext
The customer journey starts with a question, and every day consumers search for answers about brands. However, they are increasingly served false or misleading information from sources other than the brand. Yext (NYSE: YEXT), the Search Experience Cloud company, exists to help brands regain and maintain a direct relationship with their customers. With a mission to provide perfect answers everywhere, Yext puts businesses in control of their facts online by delivering brand verified answers straight from the source -- wherever their customers are searching. Companies like Taco Bell, Marriott, Jaguar-Land Rover, and businesses around the world use Yext to take back control of the customer journey, starting on their own website.

Yext has been named a Best Place to Work by Fortune and Great Place to Work®, as well as a Best Workplace for Women. Yext is headquartered in New York City with offices in Amsterdam, Berlin, Chicago, Dallas, Geneva, London, Miami, Milan, Paris, San Francisco, Shanghai, Tokyo, and the Washington, D.C. area.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This release includes forward-looking statements including, but not limited to, statements regarding our revenue, non-GAAP net loss and shares outstanding for our first quarter fiscal 2021 and full year fiscal 2021 in the paragraphs under "Financial Outlook" above, hiring plans in Japan and other statements regarding our expectations regarding the growth of our company, our market opportunity and our industry. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "intend," "potential," "might," "would," "continue," or the negative of these terms or other comparable terminology. Actual events or results may differ from those expressed in these forward-looking statements, and these differences may be material and adverse.

We have based the forward-looking statements contained in this release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, strategy, short- and long-term business operations, prospects, business strategy and financial needs. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, our ability to renew existing customers and attract new customers; our ability to successfully expand and compete in new geographies and industry verticals; our ability to recruit and retain our sales force including in enterprise and midmarket; our ability to expand our publishing network; our ability to develop new product and platform offerings to expand our market opportunity, including with Yext Answers; our ability to release new products and updates that are adopted by our customers; our ability to manage our growth effectively, weakened global economic conditions including from the effects of the coronavirus; the number of options exercised by our employees and former employees; and the accuracy of the assumptions and estimates underlying our financial projections. For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, which are available at http://investors.yext.com and on the SEC's website at https://www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings we make with the SEC from time to time. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements made in this release relate only to events as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements after the date hereof or to conform such statements to actual results or revised expectations, except as required by law.

Non-GAAP Measurements
In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables include non-GAAP net loss, non-GAAP net loss per share and non-GAAP net loss margin. Non-GAAP net loss, non-GAAP net loss per share and non-GAAP net loss margin are financial measures that are not calculated in accordance with GAAP. We define these non-GAAP net loss financial measures as our GAAP net loss as adjusted to exclude the effects of stock-based compensation expenses. Non-GAAP net loss per share is defined as non-GAAP net loss on a per share basis. See "Reconciliation of GAAP to Non-GAAP Financial Measures" for a discussion of the applicable weighted-average shares outstanding. Non-GAAP net loss margin is defined as non-GAAP net loss divided by revenue. We believe these non-GAAP financial measures provide investors and other users of our financial information consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our results of operations. With respect to non-GAAP net loss margin, we believe this metric is useful in evaluating our profitability relative to the amount of revenue generated, excluding the impact of stock-based compensation expense. We also believe these non-GAAP financial measures are useful in evaluating our operating performance compared to that of other companies in our industry, as these metrics eliminate the effects of stock-based compensation, which may vary for reasons unrelated to overall operating performance.

We use these non-GAAP financial measures in conjunction with traditional GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our Board of Directors concerning our financial performance. Our definition may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish this or similar metrics. Thus, our non-GAAP financial measures should be considered in addition to, not as a substitute for, nor superior to or in isolation from, measures prepared in accordance with GAAP.

These non-GAAP financial measures may be limited in their usefulness because they do not present the full economic effect of our use of stock-based compensation. We compensate for these limitations by providing investors and other users of our financial information a reconciliation of non-GAAP net loss to net loss, non-GAAP net loss per share to net loss per share and non-GAAP net loss margin to net loss margin, the most closely related GAAP financial measures. However, we have not reconciled the non-GAAP guidance measures disclosed under "Financial Outlook" to their corresponding GAAP measures because certain reconciling items such as stock-based compensation and the corresponding provision for income taxes depend on factors such as the stock price at the time of award of future grants and thus cannot be reasonably predicted. Accordingly, reconciliations to the non-GAAP guidance measures is not available without unreasonable effort. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view non-GAAP net loss and non-GAAP net loss per share in conjunction with net loss and net loss per share.

For Further Information Contact:
Investor Relations:
Dominic Paschel
IR@yext.com

Public Relations:
Amanda Kontor
PR@yext.com


                                                            
            
              YEXT, INC.
                                                        
              Consolidated Balance Sheets
                                                      
      (In thousands, except share and per share data)
                                                                
              (unaudited)




                                                         January 31, 2020                                January 31, 2019



     
              Assets



     Current assets:


      Cash and cash equivalents                                             $
            256,076                                         $
      91,755



     Marketable securities                                             -                                                    51,021


      Accounts receivable, net of
       allowances of $995 and $256,
       respectively                                                80,583                                                     55,341


      Prepaid expenses and other
       current assets                                              12,730                                                     14,135


      Costs to obtain revenue
       contracts, current                                          28,423                                                     17,817



     Total current assets                                        377,812                                                    230,069



     Restricted cash                                              12,100


      Property and equipment, net                                  26,200                                                     11,077


      Operating lease right-of-use
       assets                                                     111,973


      Costs to obtain revenue
       contracts, non-current                                      26,051                                                     18,366



     Goodwill                                                      4,534                                                      4,660



     Intangible assets, net                                        1,343                                                      1,960



     Other long term assets                                        3,607                                                        996



     Total assets                                                          $
            563,620                                        $
      267,128


                 Liabilities and stockholders' equity



     Current liabilities:


      Accounts payable, accrued
       expenses and other current
       liabilities                                                           $
            59,482                                         $
      44,236


      Unearned revenue, current                                   176,806                                                    135,544


      Operating lease liabilities,
       current                                                      8,640


      Total current liabilities                                   244,928                                                    179,780


      Operating lease liabilities, non-
       current                                                    115,187


      Other long term liabilities                                   2,293                                                      2,799



     Total liabilities                                           362,408                                                    182,579



     Commitments and contingencies



     Stockholders' equity:


      Preferred stock, $0.001 par value
       per share; 50,000,000 shares
       authorized at January 31, 2020
       and 2019; zero shares issued and
       outstanding at January 31, 2020
       and 2019                                                         -


      Common stock, $0.001 par value
       per share; 500,000,000 shares
       authorized at January 31, 2020
       and 2019, respectively;
       122,335,709 and 108,678,234
       shares issued at January 31,
       2020 and 2019, respectively;
       115,830,375 and 102,172,900
       shares outstanding at January
       31, 2020 and 2019, respectively                                122                                                        109


      Additional paid-in capital                                  636,008                                                    398,882


      Accumulated other comprehensive
       loss                                                         (360)                                                   (1,428)



     Accumulated deficit                                       (422,653)                                                 (301,109)



     Treasury stock, at cost                                    (11,905)                                                  (11,905)


      Total stockholders' equity                                  201,212                                                     84,549


      Total liabilities and
       stockholders' equity                                                 $
            563,620                                        $
      267,128


                                                                                            
              
                YEXT, INC.
                                                                         
                Consolidated Statements of Operations and Comprehensive Loss
                                                                               
                (In thousands, except share and per share data)
                                                                                                 
                (unaudited)




                                                             Three months ended January 31,                                        Fiscal year ended January 31,


                                                2020                            2019                        2020                                  2019



     Revenue                                          $
            81,378                                             $
              63,759                               $
          298,829      $
           228,283



     Cost of revenue                         20,922                                        15,641                                             77,030                          57,413



     Gross profit                            60,456                                        48,118                                            221,799                         170,870



     Operating expenses:


      Sales and marketing                     57,338                                        41,006                                            218,076                         158,845


      Research and development                13,842                                         9,228                                             49,445                          36,098


      General and administrative              19,839                                        14,107                                             77,231                          51,572


      Total operating expenses                91,019                                        64,341                                            344,752                         246,515


      Loss from operations                  (30,563)                                     (16,223)                                         (122,953)                       (75,645)



     Interest income                            687                                           487                                              4,099                           1,711



     Interest expense                          (95)                                         (36)                                             (308)                          (143)


      Other expense, net                       (194)                                           51                                            (1,285)                          (538)


      Loss from operations before
       income taxes                         (30,165)                                     (15,721)                                         (120,447)                       (74,615)


      (Provision for) benefit from
       income taxes                            (412)                                          261                                            (1,097)                          (222)



     Net loss                                       $
            (30,577)                                          $
              (15,460)                            $
          (121,544)    $
           (74,837)




      Net loss per share
       attributable to common
       stockholders, basic and
       diluted                                         $
            (0.27)                                            $
              (0.15)                               $
          (1.09)      $
           (0.76)


      Weighted-average number of
       shares used in computing
       net loss per share
       attributable to common
       stockholders, basic and
       diluted                           115,166,912                                   101,354,229                                        111,758,946                      98,387,366





     Other comprehensive income (loss):


      Foreign currency translation
       adjustment                                         $
            197                                               $
              (97)                                $
          1,197         $
           (75)


      Unrealized (loss) gain on
       marketable securities, net              (169)                                          114                                              (129)                            280


      Total comprehensive loss                       $
            (30,549)                                          $
              (15,443)                            $
          (120,476)    $
           (74,632)


                                                                                                                    
              
                YEXT, INC.
                                                                                                            
                Consolidated Statements of Cash Flows
                                                                                                                       
                (In thousands)
                                                                                                                         
                (unaudited)




                                                                                                                                                                             Fiscal year ended January 31,


                                                                                                                                                                   2020                         2019



     
                  Operating activities:



     Net loss                                                                                                                                                          $
        (121,544)                          $
        (74,837)



        Adjustments to reconcile net loss to net cash (used in) provided by operating activities:



     Depreciation and amortization                                                                                                                               8,069                                    6,813



     Provision for bad debts                                                                                                                                     1,246                                      492



     Stock-based compensation expense                                                                                                                           67,770                                   44,233



     Amortization of operating lease right-of-use assets                                                                                                        11,124



     Other, net                                                                                                                                                    120                                     (83)



        Changes in operating assets and liabilities:



     Accounts receivable                                                                                                                                      (26,981)                                (11,601)



     Prepaid expenses and other current assets                                                                                                                     268                                  (6,745)



     Costs to obtain revenue contracts                                                                                                                        (18,344)                                (16,817)



     Other long term assets                                                                                                                                    (2,629)                                       2



     Accounts payable, accrued expenses and other current liabilities                                                                                            8,267                                   17,626



     Unearned revenue                                                                                                                                           42,345                                   47,004



     Operating lease liabilities                                                                                                                               (1,044)



     Other long term liabilities                                                                                                                                   565                                    (847)



     Net cash (used in) provided by operating activities                                                                                                      (30,768)                                   5,240



     
                  Investing activities:



     Purchases of marketable securities                                                                                                                              -                                (52,916)



     Maturities of marketable securities                                                                                                                        51,197                                   86,320



     Capital expenditures                                                                                                                                     (11,889)                                 (5,270)



     Net cash provided by investing activities                                                                                                                  39,308                                   28,134



     
                  Financing activities:



     Proceeds from common stock offering, net of underwriting discounts and commissions                                                                        147,000



     Payments of deferred offering costs                                                                                                                         (530)



     Proceeds from exercise of stock options                                                                                                                    14,893                                   18,880



     Payments of deferred financing costs                                                                                                                        (260)                                   (159)



     Proceeds, net from employee stock purchase plan withholdings                                                                                                7,270                                    5,663



     Net cash provided by financing activities                                                                                                                 168,373                                   24,384



       Effect of exchange rate changes on cash, cash equivalents and restricted cash                                                                             (492)                                   (370)



       Net increase in cash, cash equivalents and restricted cash                                                                                              176,421                                   57,388



       Cash, cash equivalents and restricted cash at beginning of period                                                                                        91,755                                   34,367



       Cash, cash equivalents and restricted cash at end of period                                                                                                       $
        268,176                             $
        91,755






     Supplemental reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets as of January 31,




     
                (in thousands)                                                                                                                                  2020                         2019



     Cash and cash equivalents                                                                                                                                           $
        256,076                             $
        91,755



     Restricted cash                                                                                                                                            12,100



     Total cash, cash equivalents and restricted cash                                                                                                                    $
        268,176                             $
        91,755


                                                       
              
                YEXT, INC.
                                                
       Reconciliation of GAAP to Non-GAAP Financial Measures
                                                           
                (In thousands)
                                                            
                (unaudited)




                                            
         
            Three months ended January 31, 2020


                              GAAP                                 Stock-Based                            Non-GAAP
                                                     Compensation
                                                       Expense



     Cost and expenses:


      Cost of revenue                $
        20,922                                                                  $
         (1,133)           $
        19,789


      Gross profit                   $
        60,456                                                                    $
         1,133            $
        61,589


      Sales and marketing            $
        57,338                                                                  $
         (7,748)           $
        49,590


      Research and
       development                   $
        13,842                                                                  $
         (3,952)            $
        9,890


      General and
       administrative                $
        19,839                                                                  $
         (4,020)           $
        15,819


      Loss from operations         $
        (30,563)                                                                  $
         16,853          $
        (13,710)



     Net loss                     $
        (30,577)                                                                  $
         16,853          $
        (13,724)


      Net loss margin      (37.6)%                                                     20.7%                                      (16.9)%






                                            
         
            Three months ended January 31, 2019


                              GAAP                                 Stock-Based                            Non-GAAP
                                                     Compensation
                                                       Expense



     Cost and expenses:


      Cost of revenue                $
        15,641                                                                    $
         (883)           $
        14,758


      Gross profit                   $
        48,118                                                                      $
         883            $
        49,001


      Sales and marketing            $
        41,006                                                                  $
         (6,189)           $
        34,817


      Research and
       development                    $
        9,228                                                                  $
         (2,464)            $
        6,764


      General and
       administrative                $
        14,107                                                                  $
         (2,754)           $
        11,353


      Loss from operations         $
        (16,223)                                                                  $
         12,290           $
        (3,933)



     Net loss                     $
        (15,460)                                                                  $
         12,290           $
        (3,170)


      Net loss margin      (24.2)%                                                     19.2%                                       (5.0)%


                                                        
              
                YEXT, INC.
                                                 
       Reconciliation of GAAP to Non-GAAP Financial Measures
                                                            
                (In thousands)
                                                             
                (unaudited)




                                              
        
             Fiscal year ended January 31, 2020


                              GAAP                                  Stock-Based                            Non-GAAP
                                                      Compensation
                                                        Expense



     Cost and expenses:


      Cost of revenue                 $
        77,030                                                                   $
        (4,115)           $
       72,915


      Gross profit                   $
        221,799                                                                     $
        4,115           $
       225,914


      Sales and marketing            $
        218,076                                                                  $
        (31,421)          $
       186,655


      Research and
       development                    $
        49,445                                                                  $
        (13,212)           $
       36,233


      General and
       administrative                 $
        77,231                                                                  $
        (19,022)           $
       58,209


      Loss from operations         $
        (122,953)                                                                   $
        67,770          $
       (55,183)



     Net loss                     $
        (121,544)                                                                   $
        67,770          $
       (53,774)


      Net loss margin      (40.7)%                                                      22.7%                                      (18.0)%






                                              
        
             Fiscal year ended January 31, 2019


                              GAAP                                  Stock-Based                            Non-GAAP
                                                      Compensation
                                                        Expense



     Cost and expenses:


      Cost of revenue                 $
        57,413                                                                   $
        (2,915)           $
       54,498


      Gross profit                   $
        170,870                                                                     $
        2,915           $
       173,785


      Sales and marketing            $
        158,845                                                                  $
        (22,519)          $
       136,326


      Research and
       development                    $
        36,098                                                                   $
        (8,475)           $
       27,623


      General and
       administrative                 $
        51,572                                                                  $
        (10,324)           $
       41,248


      Loss from operations          $
        (75,645)                                                                   $
        44,233          $
       (31,412)



     Net loss                      $
        (74,837)                                                                   $
        44,233          $
       (30,604)


      Net loss margin      (32.8)%                                                      19.4%                                      (13.4)%


                                   
              
                YEXT, INC.
                        
           Reconciliation of GAAP to Non-GAAP Financial Measures
                           
           (In thousands, except share and per share data)
                                        
                (unaudited)


                                                     Three months ended January 31,


                                    2020                                 2019



     Net loss                              $
              (30,577)                            $
       (15,460)


      Stock-based
       compensation
       expense                    16,853                                             12,290


      Non-GAAP net loss                     $
              (13,724)                             $
       (3,170)




      Net loss per share
       attributable to
       common
       stockholders, basic
       and diluted                            $
              (0.27)                              $
       (0.15)




      Stock-based
       compensation
       expense per share            0.15                                               0.12


      Non-GAAP net loss
       per share
       attributable to
       common
       stockholders, basic
       and diluted                            $
              (0.12)                              $
       (0.03)




      Weighted-average
       number of shares
       used in computing
       net loss per share
       attributable to
       common
       stockholders, basic
       and diluted           115,166,912                                        101,354,229







                                                      Fiscal year ended January 31,


                                    2020                                 2019



     Net loss                             $
              (121,544)                            $
       (74,837)


      Stock-based
       compensation
       expense                    67,770                                             44,233


      Non-GAAP net loss                     $
              (53,774)                            $
       (30,604)




      Net loss per share
       attributable to
       common
       stockholders, basic
       and diluted                            $
              (1.09)                              $
       (0.76)




      Stock-based
       compensation
       expense per share            0.61                                               0.45


      Non-GAAP net loss
       per share
       attributable to
       common
       stockholders, basic
       and diluted                            $
              (0.48)                              $
       (0.31)




      Weighted-average
       number of shares
       used in computing
       net loss per share
       attributable to
       common
       stockholders, basic
       and diluted           111,758,946                                         98,387,366

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SOURCE Yext, Inc.