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Jul 31, 2021
Yext Q2 2022 Earnings Report
Yext's second quarter of fiscal year 2022 was driven by new customers and upsells, with revenue increasing 11% year-over-year.
Key Takeaways
Yext announced its results for the second quarter of fiscal 2022, with revenue of $98.1 million, an 11% increase compared to the second quarter of fiscal 2021. The customer count increased 23% year-over-year to over 2,600.
Revenue increased 11% year-over-year to $98.1 million.
Gross profit increased 8% year-over-year to $71.5 million.
Customer count increased 23% year-over-year to over 2,600.
ARR increased 12% year-over-year to $378 million.
Yext
Yext
Forward Guidance
Yext provided guidance for its third fiscal quarter ending October 31, 2021 and the fiscal year ending January 31, 2022.
Positive Outlook
- Revenue is projected to be in the range of $97.5 million to $98.5 million for Q3 2022.
- Non-GAAP net loss per share is projected to be $0.08 to $0.06 for Q3 2022.
- Revenue is projected to be in the range of $386 million to $388 million for FY 2022.
- Non-GAAP net loss per share is projected to be $0.24 to $0.20 for FY 2022.
- Yext continues to be a critical partner for businesses by driving operational efficiencies, especially within marketing and support.
Challenges Ahead
- Non-GAAP net loss per share is projected to be $0.08 to $0.06 for Q3 2022.
- Non-GAAP net loss per share is projected to be $0.24 to $0.20 for FY 2022.
- Net loss of $27.6 million, compared to the net loss of $25.1 million in the second quarter fiscal 2021.
- Net loss per share of $0.22 in the second quarter fiscal 2022, compared to net loss per share of $0.21 in the second quarter fiscal 2021.
- Net cash used in operating activities was $32.6 million for the three months ended July 31, 2021, compared to net cash used in operating activities of $15.6 million for the three months ended July 31, 2020.