Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 143

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 143
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) Total deferred tax liabilities (37,514) (27,684) Net deferred tax liability $ (106) $ (136) As of January 31, 2025, for federal income tax purposes, the Company had $321.2 million of gross U.S. federal NOL carryforwards, with pre-2018 NOLs expiring starting in fiscal 2036 with others indefinitely carried forward. As of January 31, 2025, for state income tax purposes, the Company had $21.1 million of post-apportioned, tax-effected NOL carryforwards, which expire in fiscal 2026 through fiscal 2045. As of January 31, 2025, the Company had $8.0 million of tax-effected foreign NOL carryforwards which expire starting in fiscal 2026. As of January 31, 2025, for federal income tax purposes, the Company had $28.7 million of gross U.S. federal research and development tax credits carryforwards which expire starting in fiscal 2037. Utilization of the Company’s NOLs and tax credit carryforwards in the future will be dependent upon its ability to generate taxable income and could be limited due to ownership changes, as defined under the provisions of Section 382 of the Code and similar state provisions. Utilization of the Company’s foreign NOL carryforwards in the future will be dependent upon local tax laws and regulations. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, loss carryback, and tax-planning strategies. Generally, more weight is given to objectively verifiable evidence, such as the cumulative loss in recent years, as a significant piece of negative evidence to overcome. During the fiscal year ended January 31, 2025, the valuation allowance had a net increase of $2.1 million from approximately $169.5 million to $171.6 million, primarily due to increases in U.S. deferred tax assets resulting from capitalization and amortization of research and development expenses, and generation of U.S. research and development tax credits, then netted with the net deferred tax liability from the Acquisition and impact of NOLs utilized in the current period. During the fiscal