Company: YEXT
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001614178-25-000030
Chunk: 99

Company: Yext, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 7
Chunk 99
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.9 million, or 10%. The increase was primarily driven by the acquisition of Hearsay, which resulted in a $4.0 million increase in amortization expense related to acquired intangible assets, as well as a $1.3 million increase related to royalties and integration fees. In addition, data center costs increased $2.4 million, and professional related costs increased $1.6 million. These increases were offset by a $2.0 million decrease in depreciation expense, as certain assets have fully depreciated. 

Gross margin was 77.1% for the fiscal year ended January 31, 2025, compared to 78.4% for the fiscal year ended January 31, 2024 as reflected in the discussion above.

Operating ExpensesFiscal year ended January 31,Variance(in thousands)20252024DollarsPercent Sales and marketing$174,779 $178,830 $(4,051)(2)% Research and development$77,201 $72,040 $5,161 7 % General and administrative$105,061 $72,185 $32,876 46 %

Sales and marketing expense was $174.8 million for the fiscal year ended January 31, 2025, compared to $178.8 million for the fiscal year ended January 31, 2024, a decrease of $4.1 million, or 2%. The decrease was primarily driven by a $1.9 million decrease in personnel-related costs, reflecting lower headcount, a $1.4 million decrease in depreciation expense as certain assets have fully depreciated, a $1.3 million decrease in employee travel and a $1.2 million decrease in lease expense. In addition, there were smaller decreases in conferences and events of $0.6 million and software expense of $0.5 million. These decreases were offset by a $3.1 million increase in amortization expense related to acquired intangible assets from the Hearsay acquisition.  

Research and development expense was $77.2 million for the fiscal year ended January 31, 2025, compared to $72.0 million for the fiscal year ended January 31, 2024, an increase of $5.2 million, or 7%. The increase was primarily driven by a $7.6 million increase in personnel-related costs, reflecting higher headcount. This increase was offset by decreases in stock-based compensation expense of $1.