Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 141

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 141
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4 million in letters of credit allocated as security in connection with office space. 13. Income Taxes The domestic and international components of the Company's loss from operations before income taxes are as follows: Fiscal year ended January 31, (in thousands) 2025 2024 2023 Domestic $ (33,349) $ (4,444) $ (66,194) International 5,291 4,106 2,336 Loss from operations before income taxes $ (28,058) $ (338) $ (63,858) The Company's provision for income taxes is comprised of the following: Fiscal year ended January 31, (in thousands) 2025 2024 2023 Current: Federal $ (63) $ (43) $ (42) State (1,359) (912) (491) International (1,893) (1,262) (732) Total current (3,315) (2,217) (1,265) Deferred: Federal 2,378 (4) (4) State 1,007 (11) (3) International 40 (60) (808) Total deferred 3,425 (75) (815) Total benefit from (provision for) income taxes $ 110 $ (2,292) $ (2,080) The Company’s current tax provision is primarily attributable to profitable jurisdictions outside of the United States (U.S.) and U.S. state income taxes due to limitations imposed on state operating loss ("NOLs") carryforwards and state margin tax. During the fiscal year ended January 31, 2025, the Company recorded a tax benefit of $3.4 million from a partial release of the valuation allowance in connection with the Acquisition. The net deferred tax liability from the Acquisition provided a source of additional income to support the realizability of the Company's pre-existing deferred tax assets and as a result, the Company released a portion of its valuation allowance. 88

The Company reconciled its income taxes at the federal statutory income tax rate to the provision for income taxes included within its consolidated statements of operations and comprehensive loss. The Company elected to account for its Global Intangible Low-Taxed Income as an expense in the period it is incurred. The reconciliation is as follows: Fiscal year ended January 31, (in thousands) 2025 2024 2023 U.S. federal tax (provision) benefit at statutory rate $ 5,892 $ 71 $