Company: YEXT
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001628280-25-055819
Chunk: 305

Company: Yext, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 1
Chunk 305
---
.1 million were recognized during the three months ended October 31, 2025 in connection with subleasing a floor of our corporate headquarters.

Gross margin was 73.9% for the three months ended October 31, 2025, compared to 77.0% for the three months ended October 31, 2024 as reflected in the discussion above. 

Operating ExpensesThree months ended October 31,Variance(in thousands)20252024DollarsPercent Sales and marketing$34,037 $43,667 $(9,630)(22)% Research and development$22,614 $21,070 $1,544 7 % General and administrative$18,364 $33,373 $(15,009)(45)%

Sales and marketing expense was $34.0 million for the three months ended October 31, 2025, compared to $43.7 million for the three months ended October 31, 2024, a decrease of $9.6 million or 22%. The decrease was primarily driven by employee-related costs as personnel-related costs decreased $6.6 million and stock-based compensation expense decreased $1.7 million, reflecting lower headcount. In addition, advertising costs decreased $0.9 million. The decrease was offset by asset impairment charges of $1.0 million recognized during the three months ended October 31, 2025 in connection with subleasing a floor of our corporate headquarters.

Research and development expense was $22.6 million for the three months ended October 31, 2025, compared to $21.1 million for the three months ended October 31, 2024, an increase of $1.5 million or 7%. The increase was primarily driven by a $1.1 million increase in stock-based compensation expense largely due to awards granted in connection with the acquisition of Places Scout. In 

33

addition, asset impairment charges of $0.9 million were recognized during the three months ended October 31, 2025 in connection with subleasing a floor of our corporate headquarters. The increase was offset by a $1.1 million decrease in costs associated with the acquisition of Hearsay recognized during the three months ended October 31, 2024, primarily related to the incentive pool.

General and administrative expense was $18.4 million for the three months ended October 31, 2025, compared to $33.4 million  for the three months