The company reported revenue growth of 2% Y/Y to $102.6 million, beating the consensus of $101.97 million. Revenue included a positive impact of around $0.4 million from foreign currency exchange rates on a constant currency basis.
As of July 31, 2023, ARR rose 3% Y/Y to $398 million. Adjusted EPS of $0.06 came in line with the consensus.
Gross profit increased 9% Y/Y to $80.2 million, with a margin of 78.2% vs. 73.2% a year ago.
Adjusted EBITDA of $11.8 million came higher than $0.9 million a year ago.
As of July 31, 2023, cash and cash equivalents stood at $201 million, and operating cash flow came in at $19.710 million.
Repurchase: In September 2023, the Board of Directors increased the share repurchase program by $50.0 million. As of July 31, 2023, the company had about $11.6 million remaining available for future buybacks from the initial $100.0 million program.
Price Action: YEXT shares are down 12.2% at $7.97 premarket on the last check Thursday.
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