Company: YEXT
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001614178-25-000077
Chunk: 342

Company: Yext, Inc.
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 2
Chunk 342
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 EBITDA to adjust for the effects of certain acquisition-related costs prompted by our recent acquisition of Hearsay. We believe these changes provide investors with a view of continuing core operations without the effects of unusual activity specific to acquisition-related accounting. These adjustments do not omit or adjust for the inclusion of ongoing operations of acquisitions.  

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We have recast our results on the same basis for the prior comparative periods presented, although the effects in those periods remain unchanged notwithstanding as no such acquisition-related activity had occurred. The following table reconciles our GAAP net income (loss) to non-GAAP net income (loss):  

Three months ended April 30,(in thousands)20252024GAAP net income (loss)$770 $(3,817)Plus: Stock-based compensation expense12,659 12,065 Plus: Acquisition-related costs4,048 — Plus: Amortization of acquired intangibles4,141 — Less: Tax adjustment(1)(5,093)(1,896)Non-GAAP net income $16,525 $6,352 

(1)    For fiscal year 2026, we utilize a projected tax rate of 23.5% in our computation of the non-GAAP income tax provision. 

The following table reconciles our GAAP net income (loss) to Adjusted EBITDA:  

Three months ended April 30,(in thousands)20252024GAAP net income (loss)$770 $(3,817)Interest expense (income), net10 (1,968)(Benefit from) provision for income taxes(17)221 Depreciation and amortization 6,855 2,963 Other expense (income), net355 138 Stock-based compensation expense12,659 12,065 Acquisition-related costs4,048 — Adjusted EBITDA$24,680 $9,602 

Constant Currency 

We provide revenue, including year-over-year growth rates, adjusted to remove the impact of foreign currency rate fluctuations, which we refer to as constant currency. We believe providing revenue on a constant currency basis helps our investors to better understand our underlying performance, given the current macroeconomic environment. We calculate constant currency by using the current period results for entities reporting in currencies other than USD, which are then converted into USD at the average monthly exchange rates in effect during the comparative period, as opposed to the average monthly exchange rates in effect during the current period. Our definition may