secwatch.observer — SEC 8-K summary
======================================

Issuer:     Yext, Inc. (YEXT)
CIK:        0001614178
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001614178-24-000055
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yext acquires Hearsay Systems for $125M cash; Q1 revenue $96M, guides FY25 EBITDA $65-67M
--------------------------------------------------------------------------------

- Acquires Hearsay Systems for $125M cash, plus up to $75M earnout based on ARR milestones over two years.
- Q1 FY25 revenue $96M, non-GAAP EPS $0.05, Adjusted EBITDA $9.6M; all within guidance.
- Restructuring reduces ~12% of workforce; expects ~$5M in Q2 costs; FY25 Adjusted EBITDA guidance raised to $65-67M.
- Promotes Yvette Martinez-Rea to COO; focus on efficiency and customer success reorganization.
- Organic ARR growth expected mid-single digits by FY25 end, accelerating to high-single digits in H1 FY26.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1614178/000161417824000055/0001614178-24-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1614178/000161417824000055/yext-20240610.htm
  HTML page:      https://secwatch.observer/filing/0001614178-24-000055

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer