Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 334

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 8
Chunk 334
---
5, were primarily driven by a decline in the estimated achievement of the defined milestones.

7. Goodwill and Intangible Assets

GoodwillGoodwill is not amortized but is subject to periodic testing for impairment at the reporting unit level, which is at or one level below the operating segment level. The Company operates as one operating segment, which represents its one reporting unit. The test for impairment is conducted annually each November 1st, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount.On February 7, 2025, the Company completed its acquisition of Places Scout and during the three months ended April 30, 2025, the Company recorded additional measurement period adjustments upon finalizing the accounting for its acquisition of Hearsay, which resulted in the following changes in the carrying amount of goodwill. See Note 4 "Business Combinations" for additional information.The following table presents a reconciliation of the beginning and ending balances of goodwill:(in thousands)Balance as of January 31, 2025$96,782 Goodwill acquired - Places Scout13,801 Measurement period adjustments related to Hearsay acquisition(189)Effect of foreign currency translation on Goodwill acquired 292 Balance as of July 31, 2025$110,686 The Company determined that no events occurred or circumstances changed that would more likely than not reduce the fair value of the Company's reporting unit below its carrying amount during the reporting periods ended July 31, 2025 and January 31, 2025. However, if certain events occur or circumstances change, it may be necessary to record impairment charges in the future.Intangible AssetsThe Company’s intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives, which range from approximately 2 to 15 years. Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company has no indefinite-lived intangible assets.The Company determined that no events occurred or circumstances changed during the reporting periods ended July 31, 2025  and 2024 that would indicate that its intangible assets with finite lives may not be recoverable. However, if certain events occur or circumstances change, it may be necessary to record impairment charges in the future.Amortization expense was $4.0 million and $8.2 million for the three and