Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 145

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 145
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 months. The Company is subject to income tax examinations in the United States and various state and foreign jurisdictions. The Company’s most significant operations are in the United States and the earliest open tax year subject to potential examination in the United States is 2008. 14. Leases The Company's operating lease arrangements are principally for office space. As of January 31, 2025, the Company had $18.6 million of operating lease liabilities, current, $76.8 million of operating lease liabilities, non-current, $67.5 million of operating lease right-of-use assets, and no financing leases, on its consolidated balance sheet. The operating lease arrangements included in the measurement of lease liabilities had a weighted-average remaining lease term of 5.9 years and a weighted-average discount rate of 6.0%, as of January 31, 2025. During the fiscal year ended January 31, 2025, the Company paid $17.2 million for amounts included in the measurement of lease liabilities and obtained $0.4 million of operating lease right-of-use assets in exchange for lease obligations in connection with the Acquisition. The following table summarizes the Company's lease expense for the periods presented: Fiscal year ended January 31, (in thousands) 2025 2024 2023 Operating lease expense $ 14,894 $ 15,637 $ 16,196 Short-term lease expense 748 709 792 Variable lease expense 9,696 10,082 9,550 Total lease expense $ 25,338 $ 26,428 $ 26,538 Operating lease expense is recognized on a straight-line basis over the term of the arrangement beginning on the lease commencement date for lease arrangements that have an initial term greater than twelve months and therefore are recorded on the balance sheet. Short-term lease expense is recognized on a straight-line basis over the lease term for lease arrangements that have an initial term of 12 months or less and therefore are not recorded on the balance sheet. Variable lease expense is recognized as incurred and includes real estate taxes and utilities, among other office space related expenses. 91

The total remaining operating lease payments included in the measurement of lease liabilities on the Company's consolidated balance sheet as of January 31, 2025, was as follows (in thousands): Fiscal year ending January 31: Operating Lease Payments 2026 $ 19,201 2027 19,334 2028 19,431 2029 19,291 2030