Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 121

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 121
---
 which the total transaction price and observable SSP of the professional services performance obligation is used to arrive at the estimated SSP of the subscription and associated support performance obligation. The Company's revenue is predominantly related to its subscription and associated support to the Company's platform. Professional services revenue accounted for approximately 7%, 8% and 9% of the Company's total revenue for the fiscal years ended January 31, 2025, 2024 and 2023, respectively. Contract Assets The Company records a contract asset when revenue is recognized prior to being billed. Contract assets were $1.7 million as of January 31, 2025 and not significant as January 31, 2024. Contract assets are included in prepaid expenses and other current assets on the consolidated balance sheet. Contract Liabilities A contract liability is an obligation to transfer goods or services for which consideration has been received or is due to a customer. The Company's contract liabilities consist primarily of unearned revenue and, to a lesser extent, customer deposits. As of January 31, 2025 and 2024, unearned revenue, current was $229.1 million and $212.2 million, while unearned revenue, non-current, which is included within other long term liabilities on the Company's consolidated balance sheet was $0.6 million and $0.7 million, respectively. Unearned revenue represents amounts billed, or payments received, in advance of revenue recognition for which the Company has an unconditional obligation to transfer goods or services associated with a non-cancelable contract. Unearned revenue is subsequently recognized as revenue when transfer of control to a customer has occurred. The unearned revenue balance is influenced by several factors, including seasonality, the compounding effects of renewals, and invoice duration, timing and size. The portion of unearned revenue expected to be recognized during the succeeding twelve-month period is classified as unearned revenue, current, and the remaining portion is classified within other long term liabilities in the Company’s consolidated balance sheet. Revenue recognized of $208.7 million during the fiscal year ended January 31, 2025 was included in unearned revenue, current as of January 31, 2024. Customer deposits represent payments received in advance in instances where a revenue contract is cancelable in nature, and therefore the Company does not have an unconditional obligation to transfer control to a customer. Customer deposits was $0.2 million as of both, January 31, 2025 and 2024, and was included in accounts payable, accrued