Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 271

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 1
Chunk 271
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, current was $185.6 million, while unearned revenue, non-current, which is included within other long term liabilities on the Company's condensed consolidated balance sheet, was $0.5 million. Revenue recognized of $158.0 million during the six months ended July 31, 2025 was included in unearned revenue at the beginning of the period. Customer deposits represent payments received in advance in instances where a revenue contract is cancelable in nature, and therefore the Company does not have an unconditional obligation to transfer control to a customer. As of July 31, 2025 and January 31, 2025, customer deposits of $0.8 million and $0.2 million are included in accounts payable, accrued expenses and other current liabilities on the Company's condensed consolidated balance sheet, respectively. Remaining Performance Obligations    The transaction price allocated to remaining performance obligations represents amounts under non-cancelable contracts expected to be recognized as revenue in future periods, and may be influenced by several factors, including seasonality, the timing of renewals, and contract terms. As of July 31, 2025, the Company had $445.0 million of remaining performance obligations, of which $407.2 million is expected to be recognized as revenue over the next twenty-four months, with the remaining balance expected to be recognized thereafter. As of January 31, 2025, the Company had $490.1 million of remaining performance obligations.

4. Business Combinations

Hearsay AcquisitionOn August 1, 2024, Yext completed its acquisition of Hearsay pursuant to an Agreement and Plan of Merger dated June 10, 2024. At the effective time of the acquisition, each outstanding share of Hearsay stock was canceled and converted to a right to receive cash consideration, and Hearsay became a wholly owned subsidiary of Yext. The acquisition is intended to produce an end-to-end digital presence platform, combining Yext’s digital presence management capabilities with Hearsay's compliant engagement solutions across social media, websites, text, and voice.  During the three months ended April 30, 2025, the Company finalized the accounting for its acquisition of Hearsay. The fair value of consideration transferred for Hearsay as of the acquisition date consisted of the following:(in thousands)Cash consideration and liabilities incurred$132,462 Contingent consideration(1)39,800 Fair value of outstanding employee awards assumed7,825 Other transaction related payments(2)