Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 359

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 8
Chunk 359
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angible assets largely related to the acquisition of Hearsay, as well as $1.3 million related to royalties and integration fees. In addition, personnel-related costs increased $1.5 million and data center costs increased $1.4 million.

Gross margin was 75.2% for the six months ended July 31, 2025, compared to 77.4% for the six months ended July 31, 2024 as reflected in the discussion above.

33

Operating ExpensesSix months ended July 31,Variance(in thousands)20252024DollarsPercent Sales and marketing$68,278 $85,211 $(16,933)(20)% Research and development$45,248 $35,639 $9,609 27 % General and administrative$23,094 $42,180 $(19,086)(45)%

Sales and marketing expense was $68.3 million for the six months ended July 31, 2025, compared to $85.2 million for the six months ended July 31, 2024, a decrease of $16.9 million or 20%. The decrease was primarily driven by employee-related costs, as personnel-related costs decreased $9.9 million and stock-based compensation expense decreased $2.8 million, reflecting lower headcount. In addition, conferences and events decreased $2.5 million and advertising costs decreased $2.0 million. These decreases were offset by a $3.4 million increase in amortization expense primarily related to acquired intangible assets from the Hearsay acquisition.  

Research and development expense was $45.2 million for the six months ended July 31, 2025, compared to $35.6 million for the six months ended July 31, 2024, an increase of $9.6 million or 27%. The increase was primarily driven by employee-related costs, as personnel-related costs increased $5.2 million reflecting higher headcount, and stock-based compensation expense increased $1.6 million, largely due to awards granted in connection with the acquisition of Places Scout. In addition, software expense increased $0.8 million. 

General and administrative expense was $23.1 million for the six months ended July 31, 2025, compared to $42.2 million for the six months ended July 31, 2024, a decrease of $19.1 million or 45%. The decrease was primarily driven by changes in