Company: YEXT
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001628280-25-055819
Chunk: 307

Company: Yext, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 1
Chunk 307
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 constant currency by translating our current period results for entities reporting in currencies other than USD into USD at the average monthly exchange rates in effect during the comparative period, as opposed to the average monthly exchange rates in effect during the current period. 

The following table summarizes our revenue by sales channel for the periods presented:

Nine months ended October 31,Variance20252024DollarsPercent(in thousands)Direct Customers$279,233 $252,182 $27,051 11 %Third-Party Reseller Customers55,342 55,684 (342)(1)%Total Revenue$334,575 $307,866 $26,709 9 %

Revenue attributable to direct customers was $279.2 million for the nine months ended October 31, 2025, compared to $252.2 million for the nine months ended October 31, 2024, an increase of $27.1 million, or 11%. The increase was entirely driven by the inclusion of Hearsay’s revenue as a result of the acquisition which was completed on August 1, 2024. Revenue attributable to third-party reseller customers was $55.3 million for the nine months ended October 31, 2025, compared to $55.7 million for the nine months ended October 31, 2024, remaining relatively consistent. 

Cost of Revenue and Gross Margin

Cost of revenue was $84.4 million for the nine months ended October 31, 2025, compared to $70.1 million for the nine months ended October 31, 2024, an increase of $14.3 million or 20%. The increase was primarily driven by a $5.1 million increase in amortization expense related to acquired intangible assets largely related to the acquisition of Hearsay, as well as $1.2 million related to royalties and integration fees. In addition, personnel-related costs increased $2.4 million reflecting higher headcount, data center 

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costs increased $2.0 million, and asset impairment charges of $1.1 million were recognized during the nine months ended October 31, 2025, in connection with subleasing a floor of our corporate headquarters.

Gross margin was 74.8% for the nine months ended October 31, 2025, compared to 77.2% for the nine months ended October 31, 2024 as reflected in the discussion above.

Operating ExpensesNine months ended October 31