Company: YEXT
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001614178-25-000119
Chunk: 304

Company: Yext, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 1
Chunk 304
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Gross margin 75.2 %77.4 %

Total revenue was $222.6 million for the six months ended July 31, 2025, compared to $193.9 million for the six months ended July 31, 2024, an increase of $28.7 million or 15%. The increase was entirely driven by the inclusion of Hearsay’s revenue as a result of the acquisition which was completed on August 1, 2024. For both the six months ended July 31, 2025 and 2024, revenue recognized from subscription and associated support to our platform was 93%, while revenue recognized from professional services was 7%.

 Revenue for the six months ended July 31, 2025, included a positive impact from foreign currency exchange rates of approximately $1.8 million, using a constant currency basis. We calculate constant currency by translating our current period results for entities reporting in currencies other than USD into USD at the average monthly exchange rates in effect during the comparative period, as opposed to the average monthly exchange rates in effect during the current period. 

The following table summarizes our revenue by sales channel for the periods presented:

Six months ended July 31,Variance20252024DollarsPercent(in thousands)Direct Customers$185,951 $156,696 $29,255 19 %Third-Party Reseller Customers36,626 37,181 (555)(1)%Total Revenue$222,577 $193,877 $28,700 15 %

Revenue attributable to direct customers was $186.0 million for the six months ended July 31, 2025, compared to $156.7 million for the six months ended July 31, 2024, an increase of $29.3 million, or 19%. The increase was entirely driven by the inclusion of Hearsay’s revenue as a result of the acquisition which did not exist in the comparative period. Revenue attributable to third-party reseller customers was $36.6 million for the six months ended July 31, 2025, compared to $37.2 million for the six months ended July 31, 2024, a decrease of $0.6 million or 1%, primarily due to customer attrition. 

Cost of Revenue and Gross Margin

Cost of revenue was $55.2 million for the six months ended July 31, 2025, compared to $43.8 million for the six months ended