Yext Inc (YEXT) stock started the Thursday, May 27, 2021 trading by losing 1.76% and closed at $12.31 per share but later in the after-market session, YEXT stock rose 13.97% and close the day at $14.03 per share. EXT shares have fallen 19.65% over the last 12 months, and they have moved down 2.46% in the past week. Over the past three months, the stock has lost 27.25%, while over the past six months, it has declined 33.78%.
Let’s have a look at YEXT recent announcements.
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Financial results announcement
On May 27, 2021, Yext, Inc released its results for the three months ended April 30, 2021, or the Company’s first quarter of fiscal 2022.
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Q1 2022 financial highlights
- Yext reported revenue of $92.0 million for Q1 2022 compared to $85.4 million reported in the first quarter of fiscal 2021.
- Gross Profit was $70.1 million in Q1 2022 compared to $64.2 million reported in the first quarter fiscal 2021.
- The gross margin was76.2% in Q1 2022 compared to 75.2% in Q1 2021.
- Total operating expenses were $87.3 million in Q1 2022 compared to $93.3 million in Q1 2021.
- Operating loss was $17.2 million in Q1 2022 compared to operating loss of $29.2 million in Q1 2021.
- Net loss was $ 17.6 million in Q1 2022 compared to a net loss of $29.2 million in Q1 2021.
- Net loss per share attributable to common stockholders, basic and diluted was $0.14 in Q1 2022 compared to $0.25 in Q1 2021.
- As of April 30, 2021, Yext had cash and cash equivalents of $272 million.
Launch of Support Answers
OnMay 24, 2021, Yext, Inc launched Support Answers, a suite of enterprise search solutions built for customer support teams.
Nowadays people increasingly look online to find solutions independently, but still unable to find a solution for their issues which forced them to turn to live support options, which results in an increase in business cost and it takes more time to solve the problem. The launch of Support answer will help them to get their solutions without any hassle.
Participation in the investor conferences
- Yext, Inc recently participated in a virtual fireside chat discussion hosted by J.P. Morgan which was held on Monday, May 24, 2021. The company’s founder and CEO Howard Lerman presented the company.
- The company also participated in a virtual fireside chat discussion hosted by Needham & Company, LLC which was held on Monday, May 17, 2021. The company was presented by the company’s chief financial officer, Steve Cakebread.
Conclusion
Yext reported an improved revenue for Q1 2022 yesterday, which was the reason behind its surging in the after-market on Thursday. we expect it to continue its positivity on the last day of the week.