The extended trading on Wednesday for the search experience cloud company Yext, Inc. (NYSE: YEXT) came with a negative trend. The stock declined by -15.41% to $14.00 during that session after seeing a fall of -6.60% to close the regular trading at $16.55. The drop came following the announcement of financial results by the company’s release after the close of the market.
What results tell about the company?
Yext works to put businesses in control of their facts online by providing brand-verified answers. Database of Yext’s platform through its Knowledge Graph lets businesses structure relevant information about their brands. The Knowledge Graph is stored on the Yext platform, and the structured data in this graph is used to provide instant answers to questions at a business’s website, and also to users of the knowledge network.
About 175 third-party mapping applications, search engines, navigators, voice assistants, vertical directories, and social networks are contained within the Knowledge Network. The Yext platform powers the company’s features, including pages, listings, and more. It has applications in the healthcare, financial services, and retail industries.
Yesterday, Yext announced results for its fourth quarter and the fiscal year ended January 31, 2021. Brief facts of the released report include:
An increase of 13% in the fourth quarter of 2021 generating revenue of $92.2 million, against that of $81.4 million generated in a year-ago quarter.
A loss of -$18.3 million or 18 cents per share in the fourth quarter, compared to $26.3 million or 27 cents in the year-ago period.
Fiscal Year 2021:
For fiscal full-year 2021, revenue also rose by 19% to $354.7 million from $298.8 million of the revenue reported by the company for the fiscal year 2020.
The net loss incurred by the company was -$94.69 million or $0.79 per share while that remained a loss of -$121.54 or -$1.09 per share in a year-ago quarter.