Yext, Inc (NYSE:YEXT) Q3 2024 Earnings Conference Call December 5, 2023 5:00 PM ET

Company Participants

Nils Erdmann - Senior Vice President, Investor Relations

Mike Walrath - Chairman and Chief Executive Officer

Darryl Bond - Chief Financial Officer

Conference Call Participants

Wyatt Swanson - D.A. Davidson

Rohit Kulkarni - ROTH MKM

Naved Khan - B. Riley

Matt Shea - Needham

Chris Madison - William Blair

Operator

Good afternoon and welcome to the Yext Fiscal Third Quarter 2024 Earnings Conference Call. [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 Yext’s fiscal third quarter 2024 earnings conference call. With me today are CEO and Chair of the Board, Mike Walrath; and CFO, Darryl Bond.

During this call, we will make forward-looking statements, including statements related to our future financial performance, expectations regarding the growth of our business, our outlook for the fourth quarter and fiscal year 2024, our strategy and estimates of financial and operating metrics, capital expenditures and other indications of future opportunities, as further described in our third 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. These forward-looking statements represent our beliefs and assumptions only as of the date made, and we undertake no obligation to revise or update any statements to reflect changes that occur after this call.

Further information on factors and other risks that could cause actual results to materially differ from these forward-looking statements is included in our reports filed with the SEC, including in the section titled Special Note Regarding Forward-Looking Statements and Risk Factors in our most recent quarterly report on Form 10-Q for the three months ended October 31, 2023, and our press release that was issued this afternoon.

During the call, we also refer to certain metrics, including non-GAAP financial measures. Reconciliations with the most comparable historical GAAP measures are available in the earnings press release, which is available at investors.yext.com. We also provide definitions of these metrics in the earnings press release.

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

Mike Walrath

Thanks, Nils, and thanks, everyone, for joining us today. This quarter, we continued to execute our plan to operate Yext efficiently while laying the groundwork for long-term growth. In Q3, we generated revenue of $101.2 million, adjusted EBITDA of $13.5 million and non-GAAP EPS of $0.09, which reflects our most profitable quarter ever on a non-GAAP EPS basis and a solid, sustainable foundation for us to grow our business.