Yext
Yext, Inc. (NYSE: YEXT) is an American software company specializing in digital presence management, providing a unified platform that enables multi-location brands to centralize, optimize, and distribute accurate business information across search engines, websites, social media, maps, and voice assistants.[1][2] Founded in 2006 by Howard Lerman and Brian Distelburger in New York City, Yext began as a lead generation service operating from a small office in Columbus Circle, initially focusing on connecting businesses with potential customers through online directories.[1][3] The company evolved to address the challenges of inconsistent online information for brands with multiple locations, developing its core Knowledge Graph technology—a structured database that organizes entities like locations, products, and services to power personalized customer experiences.[1][4] By 2017, Yext had expanded globally and completed its initial public offering on the New York Stock Exchange, raising funds to fuel further innovation in areas such as SEO, reputation management, and AI-driven content delivery.[1][5] Headquartered in New York City, Yext employs a workforce that supports operations in multiple international offices and serves thousands of enterprise customers, including major brands in retail, healthcare, finance, and hospitality.[3][2] Under the leadership of CEO Michael Walrath since March 2022, the company has emphasized composable digital experiences, integrating with third-party tools to enhance search strategies, store locators, and multi-channel marketing.[6][7] In February 2025, Yext acquired Places Scout to strengthen its competitive intelligence capabilities.[8] In August 2025, CEO Walrath submitted a non-binding proposal to acquire the company and take it private in a deal valued at approximately $1.1 billion.[9] Yext's platform has been recognized for its role in digital governance and local marketing, helping organizations combat misinformation and improve visibility in an era of fragmented online touchpoints.[10]History
Founding and Early Development
Yext was founded in 2006 by Howard Lerman, Brian Distelburger, and Brent Metz as a lead generation service for local businesses, operating out of a modest one-room office in New York City's Columbus Circle.[1][11] The company initially adopted a pay-per-lead model, connecting businesses with potential customers through targeted online advertising.[1] This approach aimed to help small and medium-sized enterprises capture consumer interest amid the growing digital shift.[12] Facing challenges in scaling the lead generation model due to inconsistent conversion rates and market saturation, Yext pivoted in 2009 to a pay-per-call advertising system, which allowed businesses to pay only for actual phone inquiries generated from ads.[1] This change, rebranding the service as Yext, improved monetization by focusing on higher-intent interactions and debuted publicly at TechCrunch50, attracting early attention.[12] Key early milestones included securing initial seed funding of $250,000 from angel investors in November 2006, followed by a $1.8 million Series A round in June 2008 and a $3.5 million Series B in early 2009.[13] Subsequent rounds, such as a $25 million investment led by Institutional Venture Partners in October 2009, supported product refinement and client acquisition for local advertisers.[14] Investors like Sutter Hill Ventures also participated in these early stages, providing capital to fuel growth.[15] By 2012, persistent scaling issues with pay-per-call led to another pivot toward digital listings management, enabling businesses to synchronize and update their online presence across directories and search engines.[1] As part of this transition, Yext sold its pay-per-call division to IAC's CityGrid Media and relocated its headquarters to the historic MetLife Tower in Midtown Manhattan, signaling a commitment to expanding its core technology platform.[1][16] This foundational shift laid the groundwork for Yext's evolution into a comprehensive digital presence solution, later known as the Answers Platform.[1]Growth and Public Offering
Following the launch of its Listings product in 2012, Yext shifted its focus to enabling multi-location brands to synchronize and manage their business information across numerous online directories and search platforms. This pivot facilitated broader adoption among enterprises with extensive physical footprints, such as FedEx, which began using the platform in 2012 to oversee location data across its global markets.[17][1] The product's emphasis on accurate data syndication addressed a critical need for consistent online presence, driving revenue growth from $60.0 million in fiscal year 2015 to $89.7 million in fiscal year 2016, a 50% increase that underscored expanding customer engagement with multi-location management.[18] Yext's growth accelerated with its initial public offering on April 13, 2017, when it listed on the New York Stock Exchange under the ticker symbol YEXT. The company priced 10.5 million shares at $11 each, above the expected range of $8 to $10, raising initial gross proceeds of $115.5 million; including the full exercise of the underwriters' overallotment option, total proceeds reached approximately $133 million. Shares rose 25% on the first trading day, pushing Yext's market capitalization above $1.1 billion and reflecting strong market reception for its digital knowledge management platform.[19][20][21] International expansion commenced in 2017, with Yext establishing new offices worldwide to support global operations, including in Europe (such as London as Northern European headquarters) and Asia. This move complemented key partnerships for data syndication with major search engines like Google and Bing, enabling seamless distribution of verified business information to over 200 publishers in the Yext Knowledge Network. By 2019, amid a company rebranding, Yext introduced its Search product, which expanded its capabilities to deliver brand-verified answers directly on websites and apps, further maturing its platform offerings. Employee headcount grew to over 1,200 by 2020, coinciding with the relocation of its New York headquarters to the Yext Building at 61 Ninth Avenue in Manhattan's Chelsea neighborhood.[1][22][23][24]Acquisitions and Recent Milestones
In March 2022, Yext announced a leadership transition, appointing Michael Walrath as CEO and Chairman of the Board, succeeding co-founder Howard Lerman, with the aim of accelerating growth and innovation in digital presence management.[25] Walrath, who had served on the board since 2008 and as chairman since 2011, brought extensive experience from co-founding ventures like WGI Group to steer the company toward enhanced platform capabilities.[6] On February 7, 2025, Yext acquired KabanaSoft, LLC, operating as Places Scout, for $20.3 million in cash, bolstering its location data and competitive intelligence features.[26] This purchase integrated Places Scout's SEO and location intelligence tools, enabling Yext to deliver advanced benchmarking and AI-driven insights for brands managing online visibility.[27] In August 2025, CEO Michael Walrath submitted a non-binding proposal to acquire all outstanding shares of Yext not already owned by him at $9.00 per share in cash, implying an equity value of approximately $1.1 billion.[9] The Yext board responded by forming a special committee of independent directors to evaluate the offer, expressing openness to alternative transactions that could maximize stockholder value.[28] Yext also marked several workplace and product milestones in 2025. In January, the company was recognized by Built In as a Best Place to Work across seven categories, including top workplaces in New York City, Washington D.C., and other U.S. regions, highlighting its inclusive culture and employee satisfaction.[29] Platform updates continued with the September 2025 release, which deprecated legacy tools like the Knowledge Assistant to streamline AI-assisted content management and introduced the beta release of the Yext Mobile app.[30] The October 2025 release further enhanced user interfaces for reviews, social integrations, and pages, incorporating AI improvements for tracking engagement and generating insights from user-generated content.[31]Products and Services
Platform Overview
Yext's Answers Platform serves as a centralized software-as-a-service (SaaS) solution designed for multi-location brands to manage and optimize their digital presence across various online channels.[7] At its core, the platform utilizes a Knowledge Graph—a structured database that organizes brand information such as locations, services, and attributes—to enable efficient data management and distribution.[7] This architecture allows businesses to maintain control over their digital knowledge, ensuring consistency and accuracy in how they appear to consumers.[1] A key feature of the Answers Platform is its real-time data syndication capability, which pushes verified information to over 200 third-party publishers, including major sites like Google, Apple Maps, and Facebook.[24] This syndication focuses on critical elements such as name, address, and phone (NAP) details, alongside images and other location-specific data, helping brands combat inconsistencies that can harm visibility and trust.[24] By integrating directly with these platforms through dual-sync mechanisms, the system supports immediate updates, reducing the risk of outdated information across search engines and directories.[7] The platform aligns with Yext's mission to deliver accurate, AI-powered experiences that enhance customer engagement, improve search engine optimization (SEO), and bolster reputation management.[7] AI-driven tools within the platform analyze and optimize content for natural language processing, enabling brands to provide relevant responses and interactions that drive conversions.[7] This approach not only elevates user satisfaction but also positions businesses to thrive in an era of voice and AI search.[7] Originally evolving from early lead-generation tools launched in 2006, the Answers Platform has developed into a comprehensive SaaS offering that serves thousands of customers worldwide.[1][2]Core Offerings
Yext's core offerings center on tools that enable businesses to manage and optimize their digital presence across multiple channels, powered by a centralized Knowledge Graph as the underlying data structure.[32] The Listings tool facilitates the synchronization and updating of business information across over 200 online directories and search engines, such as Google, Apple Maps, Yelp, and Facebook. It supports the management of more than 50 data fields, including photos, FAQs, categories, menus, products, services, and operating hours, ensuring content is formatted to meet each publisher's standards for improved visibility and rankings. Businesses can schedule updates for seasonal changes or promotions in advance, with real-time syncing via direct API connections, and the platform automatically detects and resolves errors, duplicates, or overwrites to maintain accuracy at scale for up to 10,000+ locations.[24] Pages serves as a no-code website builder that employs streaming static generation to create fast-loading, SEO-optimized sites tailored to individual locations, providers, or services. This technology allows organizations to launch or update thousands of pages—from 50 to 50,000—instantly without requiring coding or IT involvement, incorporating schema markup and live data synchronization for search engine trust. Features include embedded conversion tools like "book now" buttons, review displays, and menus to drive customer actions such as calls, bookings, and purchases, while ensuring consistency across digital touchpoints.[32] The Reviews platform provides comprehensive monitoring, response, and generation capabilities for customer feedback on major sites including Google, Facebook, and Yelp, aggregating data from over 80 review sources into a single dashboard. It enables automated review requests via email, text, or QR codes, routed intelligently to priority platforms, and supports quick responses using pre-approved templates tailored to star ratings or review types. Basic sentiment analysis identifies themes, keywords, and overall brand sentiment, with smart filters and alerts to prioritize high-impact feedback and track reputation trends over time.[33] Social management tools allow businesses to handle profiles on platforms like Instagram, Facebook, LinkedIn, and Apple, enabling localized posting of promotions, events, and offers across all locations in seconds. Content is auto-generated with embedded details such as addresses, URLs, and phone numbers for relevance, while role-based permissions and approval workflows ensure brand consistency and compliance. Engagement tracking occurs through a unified inbox that monitors interactions, assigns tasks, and measures ROI at the location level via metrics on views, likes, and conversions.[34] Analytics offers a unified dashboard that aggregates performance metrics from Listings, Pages, Reviews, and Social channels, providing insights at corporate, regional, and local levels. Customizable reports track key indicators like impressions, clicks, conversions, keyword rankings, and engagement trends, with options for real-time or daily data refreshes from first- and third-party sources. This enables benchmarking against competitors, identification of optimization opportunities, and export of data in formats like PDF, Excel, or CSV for stakeholder sharing.[35]AI Integrations and Innovations
Yext has integrated artificial intelligence and machine learning extensively into its platform to enhance search, customer engagement, and data management capabilities. These innovations leverage natural language processing, large language models (LLMs), and predictive algorithms to deliver more accurate, personalized experiences across digital channels. By structuring business data in a Knowledge Graph, Yext enables AI to interpret complex queries and automate responses, addressing the shift toward conversational and generative search paradigms.[36][37] The company's AI-powered search functionality employs natural language understanding driven by deep learning models to interpret user intent and provide relevant results on websites and applications. This system utilizes a multi-algorithm approach, combining techniques such as extractive question answering and semantic matching to handle diverse data types, including text, images, and structured content, thereby delivering personalized outcomes tailored to individual queries. For instance, Yext Search processes natural language inputs to suggest precise answers, improving discovery on enterprise sites without relying solely on keyword matching.[38][36][39] Yext Chat represents a key LLM-powered innovation, functioning as an automated chatbot that handles customer queries by drawing on the Knowledge Graph for contextually accurate responses. Integrated with the platform's structured data, it generates real-time guidance, collects user inputs, and ensures responses align with brand information, reducing manual intervention in customer service interactions. This integration allows businesses to confirm response accuracy while scaling conversational AI across multiple touchpoints.[37][40] AI-driven insights form another cornerstone, utilizing machine learning for predictive analytics, workflow automation, and content optimization. Tools like Yext Scout employ AI to analyze competitive intelligence and search performance, forecasting trends and automating tasks such as content updates and review management at scale. These features enable proactive optimization, such as generating AI-assisted content for better visibility and streamlining workflows to connect insights directly to actions like location updates or photo additions. Sentiment analysis, powered by natural language processing, further identifies key themes in reviews, assigning positive or negative scores to enhance reputation monitoring.[41][42][43] In 2025, Yext introduced several targeted innovations, including June enhancements to AI search through optimized templates for creating local pages that improve visibility in both traditional and generative search environments, alongside AI-generated responses for social direct messages. October updates advanced review management with AI-powered editing for response templates, allowing no-code customization of tone and style, and expanded mobile app support for on-the-go AI review handling, building on existing sentiment analysis to refine automated replies. These releases emphasize scalability, enabling enterprises to manage AI interactions efficiently without extensive technical resources.[44][31][45] Yext's AI advancements address the evolving search landscape, where consumers increasingly rely on AI for brand discovery— with 62% expressing trust in these tools as of mid-2025—prompting predictions of a 25% shift in search traffic to AI answer engines by 2026. By prioritizing structured data and multi-algorithm processing, Yext positions brands to maintain visibility amid this transition, fostering customer-centric strategies that adapt to conversational AI trends.[46][47]Corporate Affairs
Leadership Team
Michael Walrath has served as Chief Executive Officer and Chair of the Board of Yext since March 2022, when he transitioned from his prior role as Chairman since 2011.[25] With a background as co-founder of Right Media, an online advertising exchange acquired by Yahoo in 2007, Walrath brings extensive experience in technology investments and scaling digital platforms.[48] Under his leadership, Yext has focused on growth initiatives, including product innovation and strategic data management, and in August 2025, Walrath submitted a non-binding proposal to acquire all outstanding shares of the company not already owned by him at $9.00 per share.[9] Yvette Martinez-Rea serves as Chief Operating Officer, overseeing global operations, customer service, and strategic execution to support Yext's scaling as a SaaS provider.[49] She joined Yext in 2023 as Executive Vice President of Corporate Development, drawing on over 25 years of experience in business development and partnerships across tech, media, and gaming sectors, including roles at Verizon, Violet Grey, and ESL Gaming.[50] Her expertise has been instrumental in enhancing operational efficiency and fostering cross-functional collaboration within Yext's platform ecosystem.[51] Darryl Bond has been Chief Financial Officer since March 2022, managing Yext's financial strategy, governance, and capital allocation to drive sustainable growth.[52] Bond joined the company in 2015 as Corporate Controller after a tenure at Ernst & Young, where he specialized in audit and advisory services for technology firms, and holds an MBA from Columbia Business School.[53] His contributions include guiding financial planning amid evolving market conditions and supporting initiatives like share repurchases.[54] Ho Shin acts as General Counsel and Executive Vice President, focusing on legal compliance, risk management, and corporate governance to safeguard Yext's global operations.[55] Appointed in 2016, Shin previously served as General Counsel and Chief Privacy Officer at Millennial Media, navigating the company through its acquisition by AOL, and began his career as a corporate associate at Skadden, Arps, Slate, Meagher & Flom.[56] He holds a J.D. from Georgetown University Law Center.[57] Brian "Skip" Schipper, as Chief People Officer and Executive Vice President, leads human resources, talent strategy, and culture initiatives to build an inclusive workforce.[49] He joined Yext in 2016 following over 30 years in HR leadership, including as Vice President of Global Human Resources at Twitter and roles at Cisco Systems and Sun Microsystems, with an MBA from Michigan State University.[58] Schipper's efforts emphasize employee development and fostering a collaborative environment aligned with Yext's values.[59] Jason LaFollette is Executive Vice President and Chief Technology Officer, directing engineering and technology innovation to advance Yext's digital presence platform.[60] He joined in 2014, initially building the enterprise consulting practice before transitioning to lead product engineering, with prior experience as a co-founder of Citrrus and expertise in large-scale distributed systems; he graduated with high honors from the University of Pennsylvania's School of Engineering and Applied Science.[61] LaFollette's work has centered on agile development and integrating emerging technologies into Yext's core offerings.[62] Chris Brownlee serves as Senior Vice President of Product, overseeing the product vision, roadmap, and development to deliver customer-centric solutions.[63] With a background in product management at SOCi and other tech firms, Brownlee has driven innovations in SEO, AI-driven search, and compliance-focused integrations, such as partnerships enhancing client engagement for financial advisors.[64] His leadership ensures Yext's products adapt to fragmented search landscapes and user expectations.[65] Christian J. Ward is Executive Vice President and Chief Data Officer, spearheading data strategy, knowledge graphs, and AI applications to optimize Yext's analytics and personalization capabilities.[66] Appointed in 2019, Ward previously held chief data roles at Arizent, Data Axle, and Thomson Reuters, where he advanced content innovation and data-driven marketing, and is an author on AI in business contexts.[67] His focus on data asset optimization supports Yext's emphasis on verifiable, real-time brand information.[68] Wendi Sturgis was appointed Senior Vice President International in October 2025, focusing on strengthening leadership in the EMEA region with her extensive experience in international sales and operations.[69] Yext's leadership team as of 2025 comprises executives with deep expertise across AI and data science, financial strategy, and operational scaling, reflecting a blend of technical innovation and business acumen to navigate the evolving digital marketing landscape.[49] The team's composition underscores Yext's commitment to diverse perspectives in technology leadership, informed by the company's broader diversity and inclusion initiatives that prioritize inclusive hiring and cultural belonging.[70]Global Operations and Culture
Yext maintains its worldwide corporate headquarters in the Yext Building, situated in New York City's Chelsea neighborhood at 61 Ninth Avenue, encompassing approximately 142,500 square feet of office space.[71] The company operates approximately 10 global offices to support its international presence, including key locations in Washington D.C., Chicago, London, along with others in Europe, Asia, and additional U.S. cities such as Budapest, Hyderabad, Paris, Berlin, Milan, and Tokyo.[1] These offices facilitate regional operations, with data centers and cloud infrastructure distributed across the United States, Germany, Japan, the Netherlands, Poland, and Belgium to ensure reliable service delivery.[71] As of 2025, Yext employs approximately 1,200 full-time employees globally.[1] In response to the 2020 shift toward remote work, the company has implemented a hybrid model that blends remote flexibility with in-person collaboration opportunities at its offices, promoting work-life balance through initiatives like unlimited paid time off and wellness programs.[72] This structure supports a distributed workforce while maintaining operational efficiency across time zones. Yext's corporate culture prioritizes innovation, diversity, and customer-centricity, cultivating a high-performance environment through six employee resource groups under the Intersect program and regular transparency efforts such as quarterly all-hands meetings and internal newsletters.[70] The company fosters collaboration and ethical conduct via its Code of Business Conduct and Ethics, alongside security awareness training to build a cybersecurity-conscious team.[71] In January 2025, Yext received Built In awards as one of the best places to work in New York City, Washington D.C., and Chicago, recognizing its inclusive benefits, flexible opportunities, and supportive atmosphere.[73] On an operational scale, Yext powers digital presence management for multi-location brands in industries such as retail, healthcare, financial services, hospitality, and food services, helping enterprises maintain consistent information across search engines, websites, and directories.[74] To address its global footprint, the company adheres to stringent data protection standards, including compliance with the European Union's General Data Protection Regulation (GDPR), which governs personal data processing and cross-border transfers to mitigate regulatory risks.[71]Financial Performance
Revenue and Growth Metrics
Yext's revenue has shown steady growth since its initial public offering in 2017. In fiscal year 2018, the first full year post-IPO, the company reported revenue of $170 million.[75] By fiscal 2025, ending January 31, 2025, revenue reached $421 million, reflecting a 4% year-over-year increase from $404 million in fiscal 2024.[76] This progression highlights Yext's expansion in the digital presence management market, with annual revenues growing from $170 million in 2018 to $228 million in 2019, $299 million in 2020, $355 million in 2021, $391 million in 2022, $401 million in 2023, and $404 million in 2024.[75] Subscription revenue, the primary driver of Yext's business model, accounted for approximately 93% of total revenue in fiscal 2025, totaling about $391 million, while services revenue contributed the remaining 7%, or roughly $29 million.[71] This breakdown underscores the company's focus on recurring revenue streams from its platform offerings. Annual recurring revenue (ARR) grew to $443 million by the end of fiscal 2025, up from $387 million at the end of fiscal 2024, representing a 14% increase and demonstrating sustained demand for Yext's core services.[71] In fiscal 2025, Yext recorded a net loss of $27.9 million, an increase from the $2.6 million net loss in fiscal 2024, primarily attributable to elevated operating expenses, including investments in AI capabilities and integration costs from recent acquisitions.[71] These investments supported enhancements to the platform's AI-driven features, though they temporarily widened the loss amid a strategic shift toward innovation and efficiency. Key profitability metrics, such as adjusted EBITDA, showed improvement in later quarters, reflecting operational discipline. Yext served approximately 2,920 customers at the end of fiscal 2025, with a strong emphasis on multi-location brands that leverage the platform for scalable digital presence management.[71] The dollar-based net retention rate stood at 93%, indicating solid customer loyalty combined with expansion revenue from existing clients, though some attrition occurred, including the non-renewal of a top-five customer representing about 8% of total revenue.[71] Churn remained manageable, supported by the platform's value in reducing customer acquisition costs for enterprise users. For fiscal 2025, quarterly revenue results were as follows: Q1 revenue of $96 million (ended April 30, 2024), Q2 revenue of $98 million (ended July 31, 2024), Q3 revenue of $114 million (ended October 31, 2024), and Q4 revenue of $113 million (ended January 31, 2025).[77][78][76] These figures illustrate consistent performance, with acceleration in the second half driven by subscription renewals and AI product adoption. In fiscal 2026, Q1 revenue was $95.8 million (ended April 30, 2025) and Q2 revenue was $113.1 million (ended July 31, 2025), up 16% year-over-year.[79][80] In early fiscal 2026, Yext completed the acquisition of Places Scout for $20.3 million in cash on February 10, 2025, expected to contribute modestly to future revenue through enhanced location intelligence capabilities, with an initial ARR impact of about $3 million by July 2025.[26][81]| Fiscal Year | Total Revenue ($M) | YoY Growth (%) | ARR ($M) |
|---|---|---|---|
| 2018 | 170 | N/A | N/A |
| 2019 | 228 | 34 | N/A |
| 2020 | 299 | 31 | N/A |
| 2021 | 355 | 19 | N/A |
| 2022 | 391 | 10 | N/A |
| 2023 | 401 | 3 | N/A |
| 2024 | 404 | 1 | 387 |
| 2025 | 421 | 4 | 443 |