Yext touts 38% revenue growth as it adds retail locations to search

Next Story

Crunch Report | Apple and Amazon want Bond, James Bond

Yext, the company that powers retail location search results, reported its earnings after the bell on Wednesday, its second report since going public in April.

The company showed that for the quarter ending in July it brought in $40.8 million in revenue, up 38 percent from the same period last year. It’s also slightly above the $40.18 million that analysts surveyed by Yahoo! Finance were expecting.

But the company is not yet profitable, with adjusted losses coming in at 13 cents per share. This is slightly better than the negative 14 cents predicted by Wall Street.

CEO Howard Lerman tells TechCrunch that he’s expecting the year to finish strong, slightly raising revenue guidance for the year to between $169.5 and $170.5 million. He hopes to continue signing up corporate customers and predicts that a lot of the growth will come from “conversational U.I.,” due to the rise of messaging and also voice assistants like Alexa.

From T-Mobile to Denny’s, Yext already works with large businesses to make it easier for prospective customers to search for physical store locations. The company also provides data to these businesses, showcasing insight about how many of these searches result in visits. If someone requests driving directions after searching for a location, that information is shared with businesses.

Yext has also been working on integrations with HubSpot, Domo and Zendesk, through its recently launched “App Directory.” The Zendesk feature streamlines customer support and Domo presents the data learned from Yext searches.

We “feel really great about what we accomplished in the quarter,” said Lerman. 

Featured Image: REUTERS/Brendan McDermid