Yext, Inc.
For the period ended Sep 1, 2026. Filed Sep 1, 2026.
View on SEC.govAbout this filing
A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Sep 1, 2026 · Filed Sep 1, 2026
Use the contents to explore the available documents and sections.
YEXT$7.57-1.0%Stored close · as of Nov 6, 2026
Contents
EX-99.2 · Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Six months ended July 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities: | ||
| Net income | $15,774 | $27,521 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization expense | 12,420 | 13,643 |
| Impairment of long-lived assets | 4,689 | — |
| Bad debt expense | 1,163 | 953 |
| Stock-based compensation expense | 19,995 | 25,621 |
| Amortization of operating lease right-of-use assets | 4,546 | 4,683 |
| Adjustments to contingent consideration | 10 | (21,600) |
| Other, net | 426 | 664 |
| Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions: | ||
| Accounts receivable | 50,202 | 47,282 |
| Prepaid expenses and other current assets | (5,139) | (2,017) |
| Costs to obtain revenue contracts | 4,531 | 7,004 |
| Other long term assets | (807) | 6,847 |
| Accounts payable, accrued expenses and other current liabilities | (17,712) | 65 |
| Unearned revenue | (37,260) | (46,452) |
| Operating lease liabilities | (7,380) | (7,022) |
| Other long term liabilities | (81) | (11,060) |
| Net cash provided by operating activities | 45,377 | 46,132 |
| Investing activities: | ||
| Capital expenditures | (688) | (1,135) |
| Cash paid in acquisitions, net of cash acquired | (1,068) | (18,801) |
| Net cash used in investing activities | (1,756) | (19,936) |
| Financing activities: | ||
| Proceeds from exercise of stock options | — | 439 |
| Proceeds from debt issuance | 49,500 | 99,000 |
| Repurchase of common stock | (150,906) | (45,380) |
| Payments for taxes related to net share settlement of stock-based compensation awards | (7,805) | (14,002) |
| Payments of deferred financing costs | (298) | (877) |
| Deferred acquisition payments | (2,905) | — |
| Proceeds, net from employee stock purchase plan withholdings | 1,118 | 1,568 |
| Net cash (used in) provided by financing activities | (111,296) | 40,748 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (1,130) | 3,940 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (68,805) | 70,884 |
| Cash, cash equivalents and restricted cash at beginning of period | 169,174 | 138,654 |
| Cash, cash equivalents and restricted cash at end of period | $100,369 | $209,538 |
Supplemental reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets:
| Six months ended July 31, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Cash and cash equivalents | $86,828 | $178,761 |
| Restricted cash, current and non-current | 13,541 | 30,777 |
| Total cash, cash equivalents and restricted cash | $100,369 | $209,538 |
| Three months ended July 31, | Six months ended July 31, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| GAAP net income to Adjusted EBITDA: | ||||
| GAAP net income | $13,149 | $26,751 | $15,774 | $27,521 |
| Interest expense, net | 3,128 | 1,098 | 5,487 | 1,108 |
| Provision for income taxes | 1,055 | 1,780 | 1,487 | 1,763 |
| Depreciation and amortization | 6,210 | 6,788 | 12,420 | 13,643 |
| Other expense, net | 230 | 45 | 395 | 400 |
| Stock-based compensation expense | 9,961 | 12,962 | 19,995 | 25,621 |
| Acquisition-related costs | 332 | (23,055) | 752 | (19,007) |
| Asset impairments | — | — | 4,689 | — |
| Strategic transaction costs | (48) | — | 53 | — |
| Payroll tax contingencies | — | — | (98) | — |
| Adjusted EBITDA | $34,017 | $26,369 | $60,954 | $51,049 |
| GAAP net income as a percentage of revenue | 11.8% | 23.7% | 7.2% | 12.4% |
| Adjusted EBITDA margin | 30.6% | 23.3% | 27.8% | 22.9% |
| Three months ended July 31, | Six months ended July 31, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Cost of revenue | ||||
| GAAP cost of revenue | $27,267 | $28,060 | $56,462 | $55,165 |
| Less: Stock-based compensation expense | (488) | (729) | (966) | (1,400) |
| Less: Acquisition-related costs | (3) | (194) | (21) | (720) |
| Less: Amortization of acquired intangibles | (2,368) | (2,347) | (4,714) | (4,793) |
| Less: Asset impairments | — | — | (1,453) | — |
| Non-GAAP cost of revenue | $24,408 | $24,790 | $49,308 | $48,252 |
| GAAP cost of revenue as a % of revenue | 25% | 25% | 26% | 25% |
| Non-GAAP cost of revenue as a % of revenue | 22% | 22% | 23% | 22% |
| Sales and marketing | ||||
| GAAP sales and marketing | $26,309 | $32,069 | $55,706 | $68,278 |
| Less: Stock-based compensation expense | (1,841) | (704) | (3,482) | (3,115) |
| (Less) Plus: Acquisition-related costs | (17) | 280 | (105) | (216) |
| Less: Amortization of acquired intangibles | (1,695) | (1,686) | (3,382) | (3,381) |
| Less: Asset impairments | — | — | (1,108) | — |
| Non-GAAP sales and marketing | $22,756 | $29,959 | $47,629 | $61,566 |
| GAAP sales and marketing as a % of revenue | 24% | 28% | 25% | 31% |
| Non-GAAP sales and marketing as a % of revenue | 20% | 26% | 22% | 28% |
| Research and development | ||||
| GAAP research and development | $19,373 | $23,352 | $40,854 | $45,248 |
| Less: Stock-based compensation expense | (2,952) | (3,818) | (6,312) | (6,952) |
| Less: Acquisition-related costs | (23) | (385) | (80) | (1,074) |
| Less: Asset impairments | — | — | (1,042) | — |
| Non-GAAP research and development | $16,398 | $19,149 | $33,420 | $37,222 |
| GAAP research and development as a % of revenue | 17% | 21% | 19% | 20% |
| Non-GAAP research and development as a % of revenue | 15% | 17% | 15% | 17% |
| General and administrative | ||||
| GAAP general and administrative | $20,592 | $(61) | $42,854 | $23,094 |
| Less: Stock-based compensation expense | (4,680) | (7,711) | (9,235) | (14,154) |
| (Less) Plus: Acquisition-related costs | (289) | 23,354 | (547) | 21,018 |
| Less: Asset impairments | — | — | (1,086) | — |
| Plus (Less): Strategic transaction costs | 48 | — | (53) | — |
| Plus: Payroll tax contingencies | — | — | 98 | — |
| Non-GAAP general and administrative | $15,671 | $15,582 | $32,031 | $29,958 |
| GAAP general and administrative as a % of revenue | 19% | —% | 20% | 10% |
| Non-GAAP general and administrative as a % of revenue | 14% | 14% | 15% | 13% |
| Three months ended July 31, | Six months ended July 31, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Gross profit | ||||
| GAAP gross profit | $83,836 | $85,034 | $162,557 | $167,412 |
| Plus: Stock-based compensation expense | 488 | 729 | 966 | 1,400 |
| Plus: Acquisition-related costs | 3 | 194 | 21 | 720 |
| Plus: Amortization of acquired intangibles | 2,368 | 2,347 | 4,714 | 4,793 |
| Plus: Asset impairments | — | — | 1,453 | — |
| Non-GAAP gross profit | $86,695 | $88,304 | $169,711 | $174,325 |
| GAAP gross margin | 75.5% | 75.2% | 74.2% | 75.2% |
| Non-GAAP gross margin | 78.0% | 78.1% | 77.5% | 78.3% |
| Operating expenses | ||||
| GAAP operating expenses | $66,274 | $55,360 | $139,414 | $136,620 |
| Less: Stock-based compensation expense | (9,473) | (12,233) | (19,029) | (24,221) |
| (Less) Plus: Acquisition-related costs | (329) | 23,249 | (732) | 19,728 |
| Less: Amortization of acquired intangibles | (1,695) | (1,686) | (3,382) | (3,381) |
| Less: Asset impairments | — | — | (3,236) | — |
| Plus (Less): Strategic transaction costs | 48 | — | (53) | — |
| Plus: Payroll tax contingencies | — | — | 98 | — |
| Non-GAAP operating expenses | $54,825 | $64,690 | $113,080 | $128,746 |
| GAAP operating expenses as a percentage of revenue | 60% | 49% | 64% | 61% |
| Non-GAAP operating expenses as a percentage of revenue | 49% | 57% | 52% | 58% |
| Income from operations | ||||
| GAAP income from operations | $17,562 | $29,674 | $23,143 | $30,792 |
| Plus: Stock-based compensation expense | 9,961 | 12,962 | 19,995 | 25,621 |
| Plus (Less): Acquisition-related costs | 332 | (23,055) | 752 | (19,007) |
| Plus: Amortization of acquired intangibles | 4,064 | 4,033 | 8,096 | 8,174 |
| Plus: Asset impairments | — | — | 4,689 | — |
| (Less) Plus: Strategic transaction costs | (48) | — | 53 | — |
| Less: Payroll tax contingencies | — | — | (98) | — |
| Non-GAAP income from operations | $31,871 | $23,614 | $56,630 | $45,580 |
| GAAP operating margin | 16% | 26% | 11% | 14% |
| Non-GAAP operating margin | 29% | 21% | 26% | 20% |
| Three months ended July 31, | Six months ended July 31, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| GAAP net income | $13,149 | $26,751 | $15,774 | $27,521 |
| Plus: Stock-based compensation expense | 9,961 | 12,962 | 19,995 | 25,621 |
| Plus (Less): Acquisition-related costs | 332 | (23,055) | 752 | (19,007) |
| Plus: Amortization of acquired intangibles | 4,064 | 4,033 | 8,096 | 8,174 |
| Less: Tax adjustment(1) | (6,218) | (4,382) | (11,455) | (9,475) |
| Plus: Asset impairments | — | — | 4,689 | — |
| (Less) Plus: Strategic transaction costs | (48) | — | 53 | — |
| Less: Payroll tax contingencies | — | — | (98) | — |
| Non-GAAP net income | $21,240 | $16,309 | $37,806 | $32,834 |
| GAAP net income as a percentage of revenue | 11.8% | 23.7% | 7.2% | 12.4% |
| Non-GAAP net income as a percentage of revenue | 19.1% | 14.4% | 17.3% | 14.8% |
| GAAP net income per share attributable to common stockholders, basic | $0.13 | $0.22 | $0.15 | $0.22 |
| Non-GAAP net income per share attributable to common stockholders, basic | $0.21 | $0.13 | $0.36 | $0.26 |
| GAAP net income per share attributable to common stockholders, diluted | $0.13 | $0.03 | $0.15 | $0.05 |
| Non-GAAP net income per share attributable to common stockholders, diluted | $0.21 | $0.12 | $0.35 | $0.25 |
| Weighted-average number of shares used in computing GAAP net income per share attributable to common stockholders | ||||
| Basic | 100,094,307 | 122,854,629 | 105,813,505 | 124,229,932 |
| Diluted | 103,110,326 | 130,800,808 | 107,165,224 | 131,013,284 |
| Weighted-average number of shares used in computing non-GAAP net income per share attributable to common stockholders | ||||
| Basic | 100,094,307 | 122,854,629 | 105,813,505 | 124,229,932 |
| Diluted | 103,110,326 | 130,800,808 | 108,606,382 | 132,104,280 |
(1) For fiscal year 2027 we utilize a projected tax rate of 25.5% in our computation of the non-GAAP income tax provision.
| Three months ended July 31, | ||||
|---|---|---|---|---|
| Constant Currency Revenue · 2026 · 2025 · Growth Rates | ||||
| Revenue (GAAP) | $111,103 | $113,094 | (2%) | |
| Effects of foreign currency rate fluctuations | 172 | |||
| Revenue on a constant currency basis (Non-GAAP) | $111,275 | (2%) | ||
| Six months ended July 31, | ||||
| 2026 · 2025 · Growth Rates | ||||
| Revenue (GAAP) | $219,019 | $222,577 | (2%) | |
| Effects of foreign currency rate fluctuations | (458) | |||
| Revenue on a constant currency basis (Non-GAAP) | $218,561 | (2%) | ||
| Three months ended July 31, | Six months ended July 31, | |||
|---|---|---|---|---|
| Free Cash Flow | 2026 | 2025 | 2026 | 2025 |
| Net cash provided by operating activities | $7,947 | $8,407 | $45,377 | $46,132 |
| Less: Capital expenditures inclusive of capitalized software development costs | (259) | (573) | (688) | (1,135) |
| Free cash flow | $7,688 | $7,834 | $44,689 | $44,997 |
| Operating cash flow margin | 7% | 7% | 21% | 21% |
| Free cash flow margin | 7% | 7% | 20% | 20% |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.