Q1 2025 Yext Inc Earnings Call Transcript
Key Points
- Yext Inc (YEXT) announced a definitive agreement to acquire Hearsay Systems, which is expected to enhance their digital presence platform.
- Hearsay Systems generated approximately $60 million in revenue during its prior fiscal year, indicating a strong financial performance.
- The acquisition is expected to provide new tools and capabilities for joint customers, strengthening their management of the complete customer journey.
- Yext Inc (YEXT) continues to work with 9 of the 10 largest US banks and the 4 major wirehouses, showcasing strong industry relationships.
- The integration of Hearsay Systems is expected to be highly compatible with Yext Inc (YEXT)'s operations, potentially leading to significant synergies.
- Yext Inc (YEXT) has faced challenges with large customer churn, impacting year-over-year ARR growth.
- The company has experienced slower conversion of demand due to budget constraints and longer deal cycles.
- There is uncertainty regarding the integration plan for Hearsay Systems, with no detailed comments provided at this time.
- The full-year revenue guidance came in lower than expected, reflecting ongoing market challenges.
- Yext Inc (YEXT) has slowed down the pace of hiring for sales capacity, which may impact future growth potential.
Good afternoon, and welcome to the Yext Inc. first-quarter fiscal 2025 financial results 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 of Investor Relations. Please go ahead.
Thank you, operator, and good afternoon, everyone. Welcome to Yext's first-quarter fiscal 2025 earnings conference call. With me today are CEO and Chair of the Board, Michael Walrath; and CFO, Darryl Bond.
During this call, we will make forward-looking statements, including statements related to our future financial performance, statements regarding the timing and expected effects of our pending acquisition of Hearsay Systems, expectations regarding the growth of our business, our outlook for the second quarter and full year fiscal 2025, our strategy, and estimates of financial and operating metrics, capital expenditures, and other indications of future opportunities as further
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