Company: YEXT
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001614178-25-000077
Chunk: 218

Company: Yext, Inc.
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 1
Chunk 218
---
 for these limitations by providing a reconciliation of our non-GAAP financial measures to the most closely related GAAP financial measures. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view non-GAAP net income (loss) and Adjusted EBITDA in conjunction with GAAP net income (loss).

Recent Changes in Non-GAAP Metrics

Beginning with the three months ended July 31, 2024, we revised our definitions of Non-GAAP net income (loss) and Adjusted 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.  

32

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