Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 313

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 1
Chunk 313
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 occurrence of an event of default could result in the full or partial principal balance of the May 2025 Credit Agreement becoming immediately due and payable and termination of the commitments.

The Term Loans are subject to certain mandatory prepayment events, including an excess cash flow sweep of up to 30% for excess cash flow periods in which our annualized recurring revenue is less than $350.0 million.

In connection with the May 2025 Credit Agreement, the Company incurred original issue discount costs of $1.0 million and debt issuance costs of $0.7 million. These costs will be amortized to interest expense over the term of the Term Loan Facilities using the effective interest method. 

As of July 31, 2025, the Company was in compliance with all debt covenants.

Share Repurchase Program

In March 2022, our Board of Directors authorized a $100.0 million share repurchase program of our common stock which was increased by an additional $50.0 million in September 2023 and an additional $50.0 million in March 2025. During the six months ended July 31, 2025, 6,840,320 shares were purchased and as of July 31, 2025, approximately $36.7 million remains available for future purchases, exclusive of commissions paid on the repurchase of shares.

Cash Flows

The following table summarizes our cash flows:Six months ended July 31,(in thousands)20252024 Net cash provided by operating activities   $46,132 $27,660  Net cash used in investing activities   $(19,936)$(1,192) Net cash provided by (used in) financing activities$40,748 $(2,008)

Operating Activities

Net cash provided by operating activities of $46.1 million for the six months ended July 31, 2025 reflected our net income of $27.5 million, adjusted by non-cash charges including stock-based compensation expense of $25.6 million, depreciation and amortization expense of $13.6 million, including $8.2 million related to the amortization of acquired intangibles, and $4.7 million related to the amortization of operating lease right-of-use assets. These non-cash charges were offset by $21.6 million related to adjustments in contingent consideration. In addition, there were positive adjustments resulting from changes in accounts receivable of $47.3 million, mainly due to