DEF: Yext, Inc. Announces Details for 2025 Annual Stockholders Meeting

Yext, Inc. will hold its 2025 Annual Meeting of Stockholders virtually on June 11, 2025, to vote on director elections, auditor ratification, executive compensation, and other business matters.

Summary

• Yext, Inc. is holding its 2025 Annual Meeting of Stockholders on June 11, 2025, in a virtual format.
• Stockholders will vote on the election of Hillary Smith, Michael Walrath, and Seth Waugh as Class II directors.
• They will also vote to ratify the selection of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026.
• Advisory votes will be held to approve the compensation of named executive officers and to determine the frequency of future advisory votes on executive compensation.
• The record date for determining stockholders eligible to vote is April 14, 2025.
• Proxy materials are available online, and stockholders can vote via the internet, telephone, or mail.
• Revenue increased to $421.0 million for the fiscal year ended January 31, 2025 as compared to $404.3 million in the fiscal year ended January 31, 2024, due to the acquisition of Hearsay.
• Net loss was $27.9 million for the fiscal year ended January 31, 2025, compared to net loss of $2.6 million in the fiscal year ended January 31, 2024.
• Adjusted EBITDA was $67.0 million for the fiscal year ended January 31, 2025, compared to $54.6 million in the fiscal year ended January 31, 2024.
• The company ended fiscal year 2025 with cash and cash equivalents of $123.1 million.

Sentiment

Score: 6

Explanation: The document presents a mixed picture with revenue and adjusted EBITDA growth offset by a significant increase in net loss. The overall tone is neutral, focusing on factual information.

Positives

• Revenue increased to $421.0 million for the fiscal year ended January 31, 2025 as compared to $404.3 million in the fiscal year ended January 31, 2024, due to the acquisition of Hearsay.
• Adjusted EBITDA was $67.0 million for the fiscal year ended January 31, 2025, compared to $54.6 million in the fiscal year ended January 31, 2024.
• The company ended fiscal year 2025 with cash and cash equivalents of $123.1 million.

Negatives

• Net loss was $27.9 million for the fiscal year ended January 31, 2025, compared to net loss of $2.6 million in the fiscal year ended January 31, 2024.

Risks

• The company faces strategic, financial, business and operational, legal and compliance, and reputational risks.
• The compensation committee periodically reviews the company's general compensation strategy and reviews the risks arising from the company's compensation policies and practices for all employees that are reasonably likely to have a material adverse effect on the company and to evaluate compensation policies and practices that could mitigate such risks.

Future Outlook

The company aims to deliver products that expand its total addressable market, generate revenue growth, and drive sales efficiency.

Management Comments

• Michael Walrath, Chief Executive Officer and Chairman, thanks stockholders for their ongoing support and continued interest in Yext.

Industry Context

The document mentions Yext operates in a highly competitive business environment characterized by frequent technological advances and rapidly changing market requirements.

Comparison to Industry Standards

• The compensation committee reviews the pay practices of peer companies with comparable software as a service business models and business software applications.
• The compensation peer group for fiscal 2025 included companies with annual revenues generally between $200 million and $750 million, and market capitalization generally between approximately $293 million and $2.4 billion.
• Peer companies include 8x8, Amplitude, AvePoint, Cardlytics, Couchbase, Digital Turbine, Domo, E2open Parent Holdings, Everbridge, Magnite, Model N, N-able, Olo, Progress Software, PubMatic, Q2 Holdings, Semrush Holdings, Zeta Global Holdings, and Zuora.

Related Party Transactions

• The company entered into a cooperation agreement with Lead Edge Public Fund, LP, Lead Edge Capital VI, LP, and Lead Edge Capital V, LP (collectively Lead Edge).
• Entities affiliated with Lead Edge are greater than 5% stockholders of the Company.
• Pursuant to the Cooperation Agreement, the Company agreed to appoint Evan Skorpen to the Board of Directors as a Class I director with a term expiring at the Company’s 2024 annual meeting of stockholders.

Stakeholder Impact

• Stockholders have the opportunity to vote on key decisions affecting the company's direction and governance.
• Executive compensation is designed to align with shareholder interests.
• Employees are impacted by the company's compensation policies and benefit plans.

Next Steps

• Stockholders are encouraged to vote on the proposals outlined in the proxy statement.
• The Board and compensation committee will consider the outcome of the advisory votes when making future decisions.

Key Dates

Keywords

Annual Meeting, Proxy Statement, Stockholders, Directors, Executive Compensation, Ernst & Young, Auditor, Governance, Yext