Yext stock falls as revenue outlook disappoints

Published: March 3, 2021 at 5:54 p.m. ET

By

Wallace Witkowski

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Yext Inc. YEXT, -6.60% shares dropped in the extended session Wednesday after the cloud-based software developer’s revenue outlook fell short of Wall Street expectations even as quarterly results topped them.

Yext shares dropped 15% after hours, following a 6.6% decline in the regular session to close at $16.55.

Yext forecast an adjusted loss of 7 cents to 5 cents a share on revenue of $87 million to $89 million for the first quarter, and a loss of 22 cents to 17 cents a share on revenue of $375 million to $380 million for the year.

Analysts surveyed by FactSet had estimated a loss of 6 cents a share on revenue of $93.9 million for the first quarter, and a loss of 17 cents a share on revenue of $411 million for the year.

The company reported a fourth-quarter loss of $18.3 million, or 15 cents a share, compared with $30.6 million, or 27 cents a share, in the year-ago period.

Adjusted top-line results, which exclude stock-based compensation expenses and other items, were break-even a share, versus a loss of 12 cents a share in the year-ago period.

Revenue rose to $92.2 million from $81.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $89.1 million.

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Wallace Witkowski

Wallace Witkowski came to MarketWatch from the Associated Press in New York, where he was a business reporter specializing in pharmaceutical companies. He previously reported for trade publications in covering the drug and medical-device industries back to 1998. Based in San Francisco, his focus is on U.S. equities. Follow Wally on Twitter at: @wmwitkowski.