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Oct 31, 2023
Yext Q3 2024 Earnings Report
Yext's commitment to profitable growth was illustrated through record non-GAAP profitability and strong Q3 adjusted EBITDA.
Key Takeaways
Yext announced its Q3 fiscal year 2024 results with a revenue of $101.2 million, a 2% increase year-over-year. The company reported a net loss per share of $0.00, or non-GAAP earnings per share of $0.09, and a net loss of $0.5 million, or adjusted EBITDA of $13.5 million. ARR increased 2% year-over-year to $396.8 million, and cash and cash equivalents totaled $182.2 million.
Revenue increased by 2% year-over-year to $101.2 million.
Net loss per share was $0.00, while non-GAAP earnings per share was $0.09.
Net loss was $0.5 million, with adjusted EBITDA at $13.5 million.
ARR increased by 2% year-over-year to $396.8 million.
Yext
Yext
Forward Guidance
Yext provided guidance for its fourth fiscal quarter ending January 31, 2024 and fiscal year ending January 31, 2024.
Positive Outlook
- Revenue is projected to be in the range of $100.0 to $100.5 million for Q4 2024.
- Adjusted EBITDA is projected to be in the range of $12.0 million to $13.0 million for Q4 2024.
- Non-GAAP net income per share is projected to be in the range of $0.07 to $0.08 for Q4 2024, assuming 124.4 million weighted-average basic shares outstanding.
- Revenue is projected to be in the range of $403.2 million to $403.7 million for full year 2024.
- Adjusted EBITDA is projected to be in the range of $51.7 million to $52.7 million for full year 2024.
Challenges Ahead
- Non-GAAP net income per share is projected to be in the range of $0.31 to $0.32 for full year 2024, which assumes 124.1 million weighted-average basic shares outstanding.