# YEXT earnings call intelligence LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/YEXT) · [Earnings tab](https://www.lopjlb.com/stock/YEXT?tab=earnings) Updated: 2026-09-01T05:20:28 Quarters analyzed: 8 ## Cross-quarter narrative Across eight quarterly calls Yext’s story shifted from vague guidance and modest uncertainty in early 2024 to a more confident tone by mid‑2026 despite lingering macro headwinds. Record profitability in Q3 2024 highlighted improving sales productivity and expanding gross margins, while a large $11 M churn sparked concerns about customer retention. The company refocused on core listings, pages, reviews and search, and began cautious AI investments. The $125 M Hearsay acquisition in early 2025 introduced integration milestones and opened a financial‑services vertical, but also added integration risk and delayed sales hiring. Subsequent quarters showed steady progress on integration, cost synergies and a move to a usage‑based reseller model, while margin targets moved into the low‑20 % EBITDA range. The launch of the Scout AI product in late 2025 generated strong demand, with beta rollout and general‑availability plans progressing into 2026. Macro‑economic uncertainty and FX volatility remained recurring themes, yet the firm maintained share‑buyback activity and positioned itself for organic growth and selective M&A. ## Latest CallCard · Q1 Yext beats Q1 guidance, sees Q2 strength; Scout AI product in open beta with 45 customers and 0% disinterest; retention improving; macro caution keeps outlook conservative; buybacks and M&A optionality via BlackRock facility. **Guidance:** vague — Management noted Q1 outperformance and continued strength into Q2 but did not provide full-year top-line outlook, citing macro uncertainty; conservative stance maintained. **Tone:** mgmt 0.7 · Q&A pressure 0.4 · divergence 0.3 Management highlighted very strong Q1 outperformance, continued strength into Q2, accelerating AI-driven search fragmentation benefiting core products, improving retention and value perception, rapid innovation pace, and strong balance sheet for strategic reinvestment and M&A. ### Demand visibility Strong Q1 demand with Scout waitlist of 2,000+ (mix of existing and new), 45 live beta customers, 0% disinterest; core retention improving. Scout waitlist includes existing customers, new prospects; open beta rolling out incrementally; core business seeing improved gross/net retention and value perception due to AI-driven search fragmentation; macro caution may temper expansion budgets. ### Margins / costs Profitability and efficiency improving per management; no detailed margin breakdown provided. Walrath noted 'profitability and efficiency growth' setting table for growth flywheel; Bond highlighted buyback attractiveness at current EBITDA multiple; BlackRock facility provides flexibility for investments. ### Capital allocation Active share buybacks (Q1 and May), M&A optionality via BlackRock debt facility; not either/or. Buybacks used for anti-dilution, shares reduced over 3 years; BlackRock facility replaces expiring SVB facility, enables opportunistic accretive acquisitions (Hearsay, Places Scout recent examples); strong balance sheet and cash flow support both. ### Milestones - **Scout product launch at Analyst Day** [delivered]: Officially launched April 2 with initial cohort of <10 development partners. - **Scout open beta rollout** [on_track]: 45 live customers as of call; incremental 37 added in 48 hours prior; controlled rollout continuing. - **Scout general availability** [new]: No date set; management confident in capacity to roll out many customers. - **Core retention improvement** [on_track]: Gross and net retention both up; customer success motion driving value perception. - **BlackRock debt facility** [delivered]: Replaces expiring SVB facility; provides flexibility for letters of credit and M&A. - **Share buyback execution** [on_track]: Significant repurchases in Q1 and continued in May; year-to-date through May 30 disclosed. - **Hearsay integration** [delivered]: Fully integrated; considered highly accretive strategic acquisition. - **Places Scout integration** [delivered]: Fully integrated; smaller but strategic product-led acquisition. ### Fears / risks - **Macro uncertainty**: Management cites macro as primary lingering caution; businesses thinking carefully about expanding dollars due to tariffs and economic conditions. ## Quarter one-liners - **2026 Q1:** Yext beats Q1 guidance, sees Q2 strength; Scout AI product in open beta with 45 customers and 0% disinterest; retention improving; macro caution keeps outlook conservative; buybacks and M&A optionality via BlackRock facility. - **2025 Q4:** Yext reports strong integration of Hearsay, enthusiastic early response to the newly launched Scout product, improving retention and EBITDA margins, while noting modest ARR decline due to FX and a cautious but optimistic outlook for FY26. - **2025 Q3:** Yext Q3 FY2025 showed 13% YoY revenue growth with Hearsay, a stable core business, and optimism around fragmented AI search, while FX impacts and integration progress shape a cautious but steady outlook. - **2025 Q2:** Yext reports Q2 FY25, closes Hearsay acquisition, guides low-20s EBITDA margin, sees consolidation tailwinds but cautious on organic ARR growth amid macro uncertainty. - **2025 Q1:** Yext announces $125M Hearsay acquisition to boost financial services capabilities; lowers full-year revenue guide citing slower demand conversion, budget constraints, and delayed sales hiring, while expressing confidence in back-half ARR recovery. - **2024 Q4:** Yext Q4 FY2024 call highlighted record profitability, higher sales productivity and a refocus on core listings, pages, reviews and search while cautiously investing in generative AI and social features amid macro uncertainty and a recent large‑customer churn. - **2024 Q3:** Yext posts record profitability but FY24 growth falls short of reacceleration hopes due to macro-driven deal slippage and a large $11M ARR churn; management sees improving sales productivity and pipeline as foundation for high single-digit ARR growth in FY25. - **2024 Q2:** — ## Theme arcs - **Macro uncertainty** (stable): Repeatedly cited as primary caution across calls - **Sales productivity** (improving): Record profitability and higher productivity noted in Q3 2024 and onward - **Margin improvement** (improving): Gross margin expanded and EBITDA margin targets entered low‑20s - **AI integration** (new): Generative AI, AI search and Scout product introduced from Q4 2024 onward - **Hearsay acquisition integration** (improving): Integration milestones moved from new to on‑track through 2026 - **Customer churn** (deteriorating): Large $11 M churn highlighted in Q4 2024 and Q1 2025 - **Demand conversion** (improving): Early conversion challenges gave way to stronger Scout demand by Q1 2026 ## Guidance path 2024 Q2:vague → 2024 Q3:maintained → 2024 Q4:maintained → 2025 Q1:lowered → 2025 Q2:maintained → 2025 Q3:maintained → 2025 Q4:maintained → 2026 Q1:vague --- Research context only. Not personalized investment advice. API: `GET /bff/api/bigfive/earnings-intel/YEXT`