On Thursday Yext (NYSE:YEXT) stock raised 0.36% and closed at 16.6. The stock opened the session at $16.7 and touched its highest price point at $16.83. Its recent trading capacity is 2008054 shares versus to its average trading volume of 691469 shares. The company’s stock’s lowest price point for the session stood at $16.37. YEXT traded as low as $ 12.9 in the past 52 weeks, and shares hit its peak level to $23.32.
On Dec. 05, 2019, Yext (NYSE:YEXT), the Search Experience Cloud company, revealed its results for the three months ended October 31, 2019, or the Company’s third quarter of fiscal 2020.
We successfully launched Yext Answers during the quarter, introducing the next chapter of our mission of putting the truth online. This modern site search platform, built upon our data knowledge graph containing over 259 million facts about our customers, expands the Yext market opportunity from one of businesses with physical locations to any business with a website, said Howard Lerman, Founder and Chief Executive Officer of Yext. Brands across multiple industries have transformed their websites with Answers during its beta period, including BBVA USA, Three Mobile, and IHA.
With the launch of Answers and the momentum generated at ONWARD19, Yext is well-positioned to address the increased demand from enterprise and mid-market customers across multiple industries. We continue to invest in our sales team, customer support and the build-out of our new Global Headquarters in New York to support Yext’s long-term, future growth.
Third Quarter Fiscal 2020 Highlights:
Note to the reader: Yext adopted the revenue accounting standard ASC 606 for its fiscal year ended January 31, 2019 and the results for all periods presented below are reported on that basis.
- Revenue of $76.4 million, a 30% increase as compared to the $58.6 million reported in the third quarter fiscal 2019.
- Gross Profit of $56.0 million, a 28% increase as compared to the $43.7 million reported in the third quarter fiscal 2019. Gross margin of 73.3% as compared to 74.6% reported in third quarter fiscal 2019.
- Net Loss and Non-GAAP Net Loss:
o Net loss of $42.7 million increased 86% as compared to the $22.9 million net loss in third quarter fiscal 2019. The increased loss was driven primarily by higher operating expenses, due to an overall increase in headcount as well as the impact of new lease arrangements, including New York, NY.
o Non-GAAP net loss of $21.6 million increased 116% as compared to the $10.0 million non-GAAP net loss in the third quarter fiscal 2019.
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