Yext, Inc. (NYSE: YEXT) reported Q4 EPS of ($0.12), $0.02 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $81.38 million versus the consensus estimate of $80.16 million.

Note to the reader: Yext adopted the revenue accounting standard ASC 606 for its fiscal year ended January 31, 2019 and the results for all periods presented below are reported on that basis.

Fourth Quarter Fiscal 2020 Highlights:

• Revenue of $81.4 million, a 28% increase compared to the $63.8 million reported in the fourth quarter fiscal 2019.
• Gross Profit of $60.5 million, a 26% increase compared to the $48.1 million reported in the fourth quarter fiscal 2019. Gross margin of 74.3% compared to 75.5% reported in the fourth quarter fiscal 2019.
• Net Loss and Non-GAAP Net Loss:
  • Net loss of $30.6 million, compared to the net loss of $15.5 million in the fourth quarter fiscal 2019. The increased net loss was driven primarily by higher operating expenses, due to an overall increase in employee-related costs, as well as the impact of new lease arrangements, including New York, NY.
  • Non-GAAP net loss of $13.7 million, compared to the non-GAAP net loss of $3.2 million in the fourth quarter fiscal 2019. The increase in non-GAAP net loss was primarily attributable to the higher operating expenses as described above.
• Net Loss Per Share and Non-GAAP Net Loss Per Share:
  • Net loss per share of $0.27 in the fourth quarter fiscal 2020 compared to net loss per share of $0.15 in the fourth quarter fiscal 2019.
  • Non-GAAP net loss per share of $0.12 in the fourth quarter fiscal 2020 compared to non-GAAP net loss per share of $0.03 in the fourth quarter fiscal 2019.
  • Net loss per share and non-GAAP net loss per share were based on 115.2 million and 101.4 million weighted-average basic shares outstanding for the fourth quarter fiscal 2020 and fiscal 2019, respectively.
• Balance Sheet: Cash and cash equivalents of $256.1 million as of January 31, 2020. Unearned revenue of $176.8 million as of January 31, 2020, a 30% increase compared to $135.5 million as of January 31, 2019.
• Remaining Performance Obligations (\"RPO\"): RPO of $328.1 million as of January 31, 2020. RPO expected to be recognized over the next 24 months of $309.7 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 provided by operating activities of $11.7 million for the fourth quarter fiscal 2020, compared to net cash provided by operating activities of $30.8 million for the same period of fiscal 2019.

"We had a stunning Q4 and solid end to our fiscal year 2020. We have a terrific platform of products driving strong demand across the board," said Howard Lerman, Founder and Chief Executive Officer of Yext. "For more than a decade, we have innovated to put the truth online by putting perfect answers about our customers everywhere. We are excited to enter fiscal year 2021 with a solid platform of products and the most tenured sales team in Yext history."

GUIDANCE:

Yext, Inc. sees Q1 2021 EPS of ($0.14)-($0.11), versus the consensus of ($0.10). Yext, Inc. sees Q1 2021 revenue of $85-87 million, versus the consensus of $86.55 million.

Yext, Inc. sees FY2021 EPS of ($0.50)-($0.45), versus the consensus of ($0.43). Yext, Inc. sees FY2021 revenue of $378-382 million, versus the consensus of $380.67 million.

For earnings history and earnings-related data on Yext, Inc. (YEXT) click here.