Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 357

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 8
Chunk 357
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 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 restricted stock units. 

See Note 12" Income Taxes" to our condensed consolidated financial statements for additional information on our (provision for) benefit from income taxes.

Six Months Ended July 31, 2025 Compared to Six Months Ended July 31, 2024 

RevenueSix months ended July 31,Variance(in thousands)20252024DollarsPercent Revenue$222,577 $193,877 $28,700 15 % Cost of revenue55,165 43,839 11,326 26 % Gross profit$167,412 $150,038 $17,374 12 % Gross margin 75.2 %77.4 %

Total revenue was $222.6 million for the six months ended July 31, 2025, compared to $193.9