Company: YEXT
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001614178-25-000030
Chunk: 129

Company: Yext, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 129
---
 financial reporting was maintained in all material respects.

Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and Limitations of Internal Control Over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Ernst & Young, LLP

New York, New York

March 13, 2025

   63

YEXT, INC.

Consolidated Balance Sheets 

(In thousands, except share and per share data) January 31, 2025January 31, 2024AssetsCurrent assets:Cash and cash equivalents$123,133 $210,184 Restricted cash, current9,671 — Accounts receivable, net of allowances of $2,014 and $1,013, respectively112,942 108,198 Prepaid expenses and other current assets18,094 14,849 Costs to obtain revenue contracts, current21,961 26,680 Total current assets285,801 359,911 Property and equipment, net39,689 48,542 Operating lease right-of-use assets67,452 75,989 Restricted cash, non-current5,850