Company: YEXT
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001628280-25-055819
Chunk: 308

Company: Yext, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 1
Chunk 308
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,Variance(in thousands)20252024DollarsPercent Sales and marketing$102,314 $128,878 $(26,564)(21)% Research and development$67,863 $56,709 $11,154 20 % General and administrative$41,457 $75,553 $(34,096)(45)%

Sales and marketing expense was $102.3 million for the nine months ended October 31, 2025, compared to $128.9 million for the nine months ended October 31, 2024, a decrease of $26.6 million or 21%. The decrease was primarily driven by employee-related costs, as personnel-related costs decreased $16.6 million and stock-based compensation expense decreased $4.5 million, reflecting lower headcount. In addition, advertising costs decreased $2.9 million and conferences and events decreased $2.3 million. These decreases were offset by a $3.6 million increase in amortization expense primarily related to acquired intangible assets from the Hearsay acquisition, and asset impairment charges of $1.0 million recognized during the nine months ended October 31, 2025, in connection with subleasing a floor of our corporate headquarters.

Research and development expense was $67.9 million for the nine months ended October 31, 2025, compared to $56.7 million for the nine months ended October 31, 2024, an increase of $11.2 million or 20%. The increase was primarily driven by employee-related costs, as personnel-related costs increased $4.1 million reflecting higher headcount, and stock-based compensation expense increased $2.7 million, largely due to awards granted in connection with the acquisition of Places Scout. In addition, software expense increased $0.8 million, and asset impairment charges of $0.9 million were recognized during the nine months ended October 31, 2025, in connection with subleasing a floor of our corporate headquarters.

General and administrative expense was $41.5 million for the nine months ended October 31, 2025, compared to $75.6 million for the nine months ended October 31, 2024, a decrease of $34.1 million or 45%. The decrease was primarily driven by the acquisition of Hearsay on August 1, 2024, which resulted in $9.4 million of costs associated with the incentive pool being incurred during the nine months ended October