Yext Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits
$YEXT
EDP Services
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 2.02. Results of Operations and Financial Condition
On March 5, 2025, Yext, Inc. (the “Company”) issued a press release (the “Earnings Release”) as well as a letter to its stockholders (the “Stockholder Letter”) announcing its financial results for the fourth fiscal quarter and fiscal year ended January 31, 2025. Copies of the Earnings Release and the Stockholder Letter are attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.
On March 5, 2025, the Company will hold a conference call regarding its financial results for the fourth fiscal quarter and fiscal year ended January 31, 2025.
The Company is making reference to non-GAAP financial information in each of the Earnings Release, the Stockholder Letter and the conference call. A reconciliation of GAAP to non-GAAP results is provided in the Earnings Release and the Stockholder Letter, as attached to this Current Report on Form 8-K.
The Company uses its Investor Relations page (http://investors.yext.com) as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
The information in this Item 2.02 (including Exhibit 99.1 and Exhibit 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 8.01. Other Events
On March 4, 2025, the Company’s board of directors (the “Board”) approved the repurchase of up to an additional $50 million of the Company’s common stock, increasing the share repurchase program that the Board approved in March 2022 and subsequently increased in September 2023. Such repurchases may be made from time to time subject to pre-determined price and volume guidelines established by the Company’s board of directors. As of January 31, 2025, a total of 19,512,448 shares have been purchased for a total cost of $118.1 million since the commencement of the share repurchase program.
As part of the share repurchase program, shares may be purchased in open market transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The timing, manner, price and amount of any repurchases will be determined at the Company’s discretion, and the share repurchase program may be suspended, terminated or modified at any time for any reason. The repurchase program does not obligate the Company to acquire any specific number of shares, and all open market repurchases will be made in accordance with Exchange Act Rule 10b-18, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |||||||
Press release, dated March 5, 2025 | ||||||||
Letter to Stockholders, dated March 5, 2025 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| YEXT, INC. | |||||||||||
| By: | /s/ Darryl Bond | ||||||||||
Darryl Bond Chief Financial Officer (Principal Financial Officer) | |||||||||||
Date: March 5, 2025