Company: YEXT
Filing Date: 2025-04-28
Form Type: ARS
Source: 0001614178-25-000048
Chunk: 142

Company: Yext, Inc.
Filing Date: 2025-04-28
Form: ARS
Chunk 142
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13,410 State taxes, net of federal benefit 2,711 (1,286) 479 Foreign tax rate differential (317) (191) (42) Non-deductible expenses (2,209) (1,902) (1,492) R&D credit carryforward 3,725 15,656 — Changes in valuation allowance (2,133) (13,913) (4,399) Rate change (1) 386 62 Stock-based compensation (758) (1,593) (2,500) Net excess tax benefits (shortfalls) from stock-based compensation (1,334) 213 (6,498) Return to provision adjustment (56) (25) 235 Global intangible low-taxed income (1,191) — (1,096) Acquisition-related costs (3,532) — — Other, net (687) 292 (239) Total benefit from (provision for) income taxes $ 110 $ (2,292) $ (2,080) 89

Deferred Income Taxes Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating loss and tax credit carryforwards. The components of the Company's deferred income taxes were as follows: As of January 31, (in thousands) 2025 2024 Deferred tax assets: Net operating loss carryforwards $ 97,463 $ 109,415 Tax credit carryforwards 22,577 19,668 Stock-based compensation 5,905 3,329 Allowance for doubtful accounts 524 262 Operating lease liability 23,392 25,968 Accrued expenses 6,420 1,965 Unearned revenue 65 19 Property and equipment 199 — Capitalized research & experimental expenditures 51,062 25,409 Intangible assets — 10,803 Other 1,451 227 Total deferred tax assets 209,058 197,065 Less: valuation allowance (171,650) (169,517) Deferred tax assets, net of valuation allowance 37,408 27,548 Deferred tax liabilities: Property and equipment — (732) Costs to obtain revenue contracts (5,916) (7,679) Operating lease right-of-use assets (16,638) (18,573) Intangible assets (14,427) — Other (533) (700