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Yext , Inc. Announces Second Quarter Fiscal 2022 Results EXHIBIT 99.1 Customer Count Increased 23 % Year - over - Year to Over 2,600 Second Quarter Revenue Increased 11 % Year - over - Year to $ 98.1 Million Unearned Revenue Increased 12 % Year - over - Year to $ 165 Million ARR Increased 12 % Year - over - Year to $ 378 Million Cash and Cash Equivalents of $ 240 Million Issues Guidance for Third Quarter Fiscal 2022 Updates Guidance for Full Year Fiscal 2022 NEW YORK , September 2 , 2021 / PRNewswire / -- Yext , Inc. ( NYSE : YEXT ) , the AI Search Company , today announced its results for the three months ended July 31 , 2021 , or the Company's second quarter of fiscal 2022 . " We had a solid second quarter , driven by new customers and upsells , " said Howard Lerman , Founder and CEO of Yext . " Yext continues to be a critical partner for businesses by driving operational efficiencies , especially within marketing and support . From pre - purchase information discovery to post- purchase troubleshooting , our innovative , AI - powered search platform helps create a seamless online experience at every stop in the customer journey . " Second Quarter Fiscal 2022 Highlights : • • • Revenue of $ 98.1 million , an 11 % increase , compared to $ 88.1 million reported in the second quarter fiscal 2021 . Gross Profit of $ 71.5 million , an 8 % increase , compared to $ 66.1 million reported in the second quarter fiscal 2021. Gross margin of 72.9 % , compared to 75.0 % reported in the second quarter fiscal 2021 . Net Loss and Non - GAAP Net Loss : о Net loss of $ 27.6 million , compared to the net loss of $ 25.1 million in the second quarter fiscal 2021 . • о Non - GAAP net loss of $ 7.2 million , compared to the non - GAAP net loss of $ 7.9 million in the second quarter fiscal 2021 . Net Loss Per Share and Non - GAAP Net Loss Per Share : о о о Net loss per share of $ 0.22 in the second quarter fiscal 2022 , compared to net loss per share of $ 0.21 in the second quarter fiscal 2021 . Non - GAAP net loss per share of $ 0.06 in the second quarter fiscal 2022 , compared to non - GAAP net loss per share of $ 0.07 in the second quarter fiscal 2021 . Net loss per share and non - GAAP net loss per share were based on 126.9 million and 118.4 million weighted - average basic shares outstanding for the second quarter fiscal 2022 and for the second quarter fiscal 2021 , respectively . Balance Sheet : Cash and cash equivalents of $ 240 million as of July 31 , 2021. Unearned revenue of $ 165 million as of July 31 , 2021 , compared to $ 147 million as of July 31 , 2020 . Remaining Performance Obligations ( " RPO " ) : RPO of $ 342 million as of July 31 , 2021. RPO expected to be recognized over the next 24 months of $ 324 million with the remaining balance expected to be recognized thereafter . RPO does not include amounts under contract subject to certain accounting exclusions . Cash Flow : Net cash used in operating activities was $ 32.6 million for the three months ended July 31 , 2021 , compared to net cash used in operating activities of $ 15.6 million for the three months ended July 31 , 2020 . 1