Yext, Inc. (NYSE:YEXT) Q2 2023 Earnings Conference Call September 7, 2022 4:30 PM ET

Company Participants

Nils Erdmann - SVP, IR

Michael Walrath - CEO

Marc Ferrentino - COO & President

Darryl Bond - CFO

Conference Call Participants

Naved Khan - Truth Securities

Arjun Bhatia - William Blair

Wyatt Swanson - D.A. Davidson

Operator

Good afternoon, and welcome to the Yext Second Quarter Fiscal 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Nils Erdmann, Senior Vice President, Investor Relations. Please go ahead.

Nils Erdmann

Thank you, operator, and good afternoon, everyone. Welcome to the Yext fiscal second quarter 2023 conference call. With me today are CEO, Mike Walrath; COO and President, Marc Ferrentino; and CFO, Darryl Bond.

Before we begin, I'd like to remind everyone that this call may contain forward-looking statements, including statements about expectations regarding growth of our business, our management and governance plans, strategy, forward-looking guidance, and estimates of financial and operating metrics, capital expenditures and other non-historical statements as further described in our second quarter earnings press release.

These forward-looking statements are subject to certain risks, uncertainties and assumptions, including those related to Yext's growth, the evolution of our industry, our product development and success, our management performance, and general economic and business conditions, such as the impact of COVID-19 pandemic.

We undertake no obligation to revise any statements to reflect changes that occur after this call. Descriptions of these and other risks that could cause actual results to have a material difference from these forward-looking statements are discussed in our reports filed with the SEC, including our most recent quarterly and annual reports and our press release that was issued this afternoon.

During the call, we also refer to non-GAAP financial measures. Reconciliations with the most comparable GAAP measures are also available in the earnings press release, which is available at investors.yext.com.

With that, I will turn the call over to Mike.

Michael Walrath

Thanks, Nils, and thanks, everyone for joining us today. Second quarter was a solid quarter for Yext and we executed well against our strategy of driving long-term growth through increased operational efficiency, best-in-class product innovation and improving customer satisfaction.

Our revenue for the quarter was $100.9 million and our non-GAAP net loss per share was $0.03, beating the high end of our guidance range by $0.02, driven by our success in streamlining the business and improving our operating efficiencies. These results highlight the momentum we're generating through a realignment of our sales and customer success organizations, while successfully managing costs in order to increase our cash position in the future. As our full year non-GAAP EPS guidance suggests, we expect to achieve profitability in the back half of this year.