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Jul 31, 2023
Yext Q2 2024 Earnings Report
Yext's second quarter of fiscal year 2024 results were announced, featuring revenue of $102.6 million and adjusted EBITDA of $11.8 million.
Key Takeaways
Yext reported a 2% year-over-year increase in revenue, reaching $102.6 million. The company's net loss per share was $0.03, while non-GAAP earnings per share was $0.07. Adjusted EBITDA stood at $11.8 million, and ARR increased by 3% year-over-year to $398 million.
Revenue reached $102.6 million, a 2% increase compared to the second quarter of fiscal 2023.
Net loss was $3.4 million, an improvement from the $20.0 million net loss in the second quarter of fiscal 2023.
Adjusted EBITDA was $11.8 million, compared to $0.9 million in the second quarter of fiscal 2023.
ARR increased 3% year-over-year to $398 million as of July 31, 2023.
Forward Guidance
Yext provided guidance for the third fiscal quarter ending October 31, 2023, and the full fiscal year ending January 31, 2024. Revenue for the third quarter is projected to be in the range of $101.5 to $102.5 million, with an adjusted EBITDA range of $11.5 million to $12.5 million. For the full fiscal year, revenue is projected to be in the range of $405.0 million to $407.0 million, with an adjusted EBITDA range of $50.0 million to $52.0 million.
Positive Outlook
- Revenue for Q3 is projected to be in the range of $101.5 to $102.5 million.
- Adjusted EBITDA for Q3 is projected to be in the range of $11.5 million to $12.5 million.
- Non-GAAP net income per share for Q3 is projected to be in the range of $0.06 to $0.07.
- Revenue for the full fiscal year is projected to be in the range of $405.0 million to $407.0 million.
- Adjusted EBITDA for the full fiscal year is projected to be in the range of $50.0 million to $52.0 million.
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