Yext sees 39% revenue growth in latest quarter

Yext sees 39% revenue growth in latest quarter

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Yext, the company that powers search results for retail locations, reported third-quarter earnings after the bell on Thursday.

The New York-based company said it brought in $44.3 million in revenue for the third quarter. This is 39% growth from the same period last year. Analysts had been expecting $43.85 million in revenue.

Losses came in at an adjusted 12 cents per share, better than the adjusted 13 cents that Wall Street was predicting.

“We continue to see great momentum in our business,” CEO Howard Lerman told TechCrunch.  “We’re going to build a big iconic software company in New York.”

Yext works with companies like McDonald’s and Marriott to have their stores show up in Google searches. It also recently launched a partnership with WeChat, to help make locations more visible in China.

Lerman said that its partnership with Arby’s has resulted in over 11 million driving direction requests. Yext is “helping them generate a lot of curly fries,” said Lerman.

He said that food is one of its most successful categories and that they are launching a new menu-syncing feature. Users will be able to search for pizza and see nearby locations with those options.

Yext is moving beyond just location searches and also has a new events product that can help customers get their Eventbrite and other results into Google search.

They’ve also built a “knowledge assistant” that lets customers take a photo of a store location and it will automatically update that record everywhere.

Says Lerman, “we see an intelligent future where every brand has their own website, but also has their own knowledge graph.”

Yext went public in April at $11 per share. It closed Thursday at $14.31. The stock traded about 3% in after-hours trading after earnings.

Featured Image: REUTERS/Brendan McDermid

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