Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 89

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 89
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-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. 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 loss to non-GAAP net income (loss): Fiscal year ended January 31, (in thousands) 2025 2024 GAAP net loss $ (27,948) $ (2,630) Plus: Stock-based compensation expense 51,780 44,961 Plus: Acquisition-related costs 29,176 — Plus: Amortization of acquired intangibles 7,097 — Less: Tax adjustment(1) (15,109) — Non-GAAP net income $ 44,996 $ 42,331 (1) Beginning in fiscal 2025, we are utilizing a projected tax rate of 25% in our computation of the non-GAAP income tax provision. Our estimated tax rate on non-GAAP income is determined annually and may be adjusted during the year to take into account events or trends that we believe materially impact the estimated annual rate including, but not limited to, significant changes resulting from tax legislation, material changes in the geographic mix of revenue and expenses and other significant events. Our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities. 52

The following table reconciles our GAAP net loss to Adjusted EBITDA: Fiscal year ended January 31, (in thousands) 2025 2024 GAAP net loss $ (27,948) $ (2,630) Interest (income) expense, net (5,135) (6,624) (Benefit from) provision for income taxes (110) 2,292 Depreciation and amortization 18,531 15,805 Other expense (income), net 745 761 Stock-based