Yext announces Q1 2021 Financial Results

Yext has announced the company’s first quarter 2021 financial results. According to the details, the overall revenue of the company increased to $85.4 with 24 percent YoY. The net customer count of the company increased up to 36%.

The company recorded the cash and cash equivalents of $249 million in the Q1 2021. The gross profit of the company reached $64.2 million with the increase of 23% in the first quarter 2020. The company has recorded the non-GAAP net loss of $11.9 million in the Q1 2020. The company has also announced the collaboration with Adobe. The company is now joining the Top Tier of Adobe Content Management System.

Chief Executive Officer and Founder of the Organization, Howard Lerman said, “We have seen the rise of questions on the internet accelerate the digital transformation of every business, particularly in the last couple of months,” said Howard Lerman, Founder and Chief Executive Officer of Yext. “Our platform is mission-critical to providing accurate and timely official answers to urgent questions.”

Given the large TAM opportunity and strong demand for our Yext Answers product, we are continuing to position Yext as The Official Answers Company. We have transitioned to a ‘Lead with Answers’ sales motion, and our 90-Day Yext Answers Free Trial will allow any company to quickly see ROI and how important site search is to their customers’ digital experiences,” Howard Lerman further added.

“We’re thrilled to work more closely with Adobe, the behemoth in the digital experience space, to extend Yext’s Search Experience Cloud to an even wider pool of marketers. Now, every Adobe rep in the world can refer Yext Answers to their customers, and Yext can show customers how Answers will deliver lower support costs, higher revenue conversion, and deep customer insights on their websites,” Howard Lerman concluded.

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