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Yext Hits $124MM in Revenues in 2016-17

Yext Financial Statements S1A

Warning: I am not a financial analyst, but I play one on this blog

Yext* has updated its S-1 filing to include more detail on its revenue and other aspects of its business in the run-up to its pending IPO.  Since we’re all interested, I figured I’d provide some summary info. Some of the key details from Yext’s Consolidated Statement of Operations, Balance Sheet and other docs:

  1. Yext’s Revenues for the fiscal year ending January 2017 were $124,261,000, a 38% increase from the previous year
  2. Revenues for the quarter ending January 2017 were $35,671,000, an 18% increase from the previous quarter and a 46% increase from the same quarter a year earlier
  3. No single customer accounted for more than 10% of Yext’s revenue for fiscal year 2017
  4. Yext’s Cost of Revenues for 2016-17 was $36,950,000, a 19% increase from the previous year
  5. Cost of Revenues for the quarter ending January 2017 was $9,724,000, a 4% increase from the previous quarter and a 10% increase from the same quarter a year earlier
  6. Yext’s Sales & Marketing expenses for 2016-17 were $81,529,000, a 64% increase from the previous year
  7. Sales & Marketing expenses for the quarter ending January 2017 were $26,161,000, a 28% increase from the previous quarter and an 81% increase from the same quarter a year earlier
  8. Yext’s Net Loss for 2016-17 was $43,150,000, a 63% increase from the previous year
  9. Net Loss for the quarter ending January 2017 was $14,573,000, a 43% increase from the previous quarter and a 76% increase from the same quarter a year earlier
  10. About $10MM of the 2016-17 expenses were in the form of stock-based compensation
  11. Yext had $24,420,000 in cash on hand at the end of January 2017
  12. About 11% of 2016-17 revenues came from new customers
  13. Enterprise and mid-size business and reseller customers accounted for about 86% of 2016-17 revenue ($106.6MM)
  14. Yext has 106 sales people and over 3,500 resellers
  15. Gross margin improved from 65% to 70% as revenue growth outpaced cost of revenues growth
  16.  LocationWorld, Yext’s new conference, cost $1.6MM

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