Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 9

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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Sales and marketing$32,069 $41,957 $(9,888)(24)% Research and development$23,352 $18,580 $4,772 26 % General and administrative$(61)$22,623 $(22,684)(100)%

Sales and marketing expense was $32.1 million for the three months ended July 31, 2025, compared to $42.0 million for the three months ended July 31, 2024, a decrease of $9.9 million or 24%. The decrease was primarily driven by employee-related costs as personnel-related costs decreased $5.8 million and stock-based compensation expense decreased $2.5 million, reflecting lower headcount. In addition, advertising costs decreased $1.3 million, and conferences and events decreased $1.0 million. These decreases were offset by a $1.7 million increase in amortization expense primarily related to acquired intangible assets primarily from the Hearsay acquisition.

Research and development expense was $23.4 million for the three months ended July 31, 2025, compared to $18.6 million for the three months ended July 31, 2024, an increase of $4.8 million or 26%. The increase was primarily driven by employee-related 

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costs as personnel-related costs increased $1.9 million reflecting higher headcount, and stock-based compensation expense increased $1.2 million largely due to awards granted in connection with the acquisition of Places Scout. In addition, software expense increased $0.4 million.

General and administrative expense amounted to a $0.1 million benefit for the three months ended July 31, 2025, compared to $22.6 million of expense for the three months ended July 31, 2024, a decrease of $22.7 million. The benefit recorded for the three months ended July 31, 2025 was driven by a $23.4 million decrease in the fair value of contingent consideration pertaining to the Hearsay acquisition. See Note 6 "Fair Value of Financial Instruments" to our condensed consolidated financial statements for additional information. In addition, professional related costs decreased $1.8 million mainly due to acquisition-related costs related to Hearsay included in our results for the three months ended July 31, 2024. This was offset by a $1.8 million increase in stock-based compensation expense, largely due to awards granted to certain executives including performance-based