Yext (YEXT) 4 Mar 212021 Q4 Earnings call transcript

Good afternoon, and welcome to the Yext Fourth Quarter Fiscal 2021 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Yuka Broderick, Head of Investor Relations. ahead. go Please

Rudnitsky; and fourth Gary, are everyone. to Officers, Welcome Howard Cakebread. Thank XXXX good conference fiscal David Revenue Chief quarter President today CFO, call. Yext’s Steve Lerman; you, and afternoon, and With CEO, me

statements uncertainties, non-historical to I’d opportunities, our of release. about to other may hiring statements further including everyone that non-GAAP and targets, sales described are business efficiency, net press of expenditures, capital income, expense Before the our contain like products, this and statements, market forward-looking performance, we related our including as Listings These development product subject in Answers evolution those remind begin, our growth, Yext’s flow, to margins, and statements industry, forward-looking including revenue, certain risks, call operating and after cash could call. statements and with the to of economic the conditions no release afternoon. business that reflect pandemic. and to statements these Answers, changes differ filed revise materially impact reports our and including results this obligation such cause We Descriptions issued was our the to forward-looking SEC, occur undertake in discussed of as COVID-XX and press reports, most with and recent other any success, including are annual our general that from quarterly that this these actual risks assumptions,

press available that, call the financial with With the Reconciliations turn in the to which most at measures. call, measures Howard. the over non-GAAP also GAAP are will will During also refer we is I comparable to investors.yext.com. release, available

year. accomplished be during Thanks, what challenging of couldn’t we Yuka. I more proud a

from this its annually value year. headwinds recurring location revenue that lockdowns First, core Listings, grew disrupted product proposition still of despite the extraordinary

non-GAAP We ago improvement versus sustainable a income a business XX-point net tremendous showed for more were positive in year, the durable quarter. forward. margin a non-GAAP Next, we cash year QX, for we flow build and positive operating going model and operating

product disruptive search up we stood new in Yext Finally, category a Answers.

comes As has But, been world we’re back, ready. it not easy. the

of started of pandemic. days, year challenges fiscal matter onslaught dealing adjustments. in Like were number a and we had global a we Our every business, faced with last the February, make to of and a

this led marketing spend was revenue, from foot -- XX% to the Our percentage percentage typical severely force focus felt quantitatively, But, in XX% Listings on and halt. us a sales us you can to the brought to headwinds that and in-person efficiency. approach hampered. non-GAAP a our improvement of a of quarter X-point forced and ago sales And event see in businesses year QX. in that macroeconomic as to the traffic dramatic

search jobs, COVID. and people These locations, has This our like and driving of for hours, Now, just products provides. include by that severely solution on industries. impacted across seeking critical or about But the is still important been directions most a and still reality is answers was to listing answers doctors, operating name lot a information few. FAQs physical

over In use per customers a fact, in XX% location declined year-over-year our Google QX, for Maps basis. on

of grow our its our mall is of sign our that managed popular XX% was all Despite pretty like that, took recently to you recovered. ARR always emptied. Parking location-oriented. of and drive which still Shopping and heavily to last not strategic total foodservices, there. recall, Aventura, Listings a have XX% know, industries are is Florida. around we fiscal XXXX I and as early customers. product centers told from year, that they’re Now for comes significance at look we these in The still XX% capacity. resilience ARR for a retail And

in quarter. grew XX XXX This in search And is closed XX make in search. site product. businesses Companies search, search, the year slows queries investments still down, search yet experiences in search momentum We ubiquitous. site it strong in years. Answers QX, up saw a Building hasn’t these expensive. is search It app changed QX. e-commerce Keyword ago It’s we meanwhile, Answers search, Now, just QX support huge is experience. our customer from Answers-led search, deals times subpar XX beginning. with workplace the search,

end You’ve a of search. experts, and team got to have enough is keyword when the never good result it’s

powerful, goal. and for our powered don’t The thing and Answers, Despite that business, and keywords our make PhDs on huge search disruption. by disrupt that product is to got the help in ours to lot in a you search, well in look So, But, every see keyword going search better, founding in that We this achieve not the a to bunch weeks, ripe I to can its future. Investor information when and Answers engine lengths. specific search a team innovations back wait just have of web all show Graph, have Q&A world hour a normal. including answers, delivers forward date we’ve positioned in their coming telling believe search Yext don’t that. get a We unknowns, incredible, an hire will meanwhile, is our modern, when build extraordinary our I like search, document know. of of language in us return Answers our and Knowledge you we of a past. vision rebound. I’m business search can’t I are to years cheaper foodservices Day sleek, up two of faster, all confident natural extraordinary more extracted a will a experience for search our a a only the Yext at couple With as disrupting Listings retail of With handles search we’ve you And platform solutions, that Why search. search keep huge of control crawler. turn ought organization keyword principle multifaceted set the about We’ve an more search be going and platform life weeks. industries online. invented how category we’re to Company over And to it to back out we’re category about to and a

I’d makes Rudnitsky single Chief to search category a our Finally, faster, his most to gear global our search better, the leader Answers and on David? go-to-market disrupt President Officer. under promotion platform. Revenue sense the like congratulate David to Unifying as up we with cheaper

Yext to the to Thanks, ahead. as be Howard. leading I’m greater in we much the to levels look excited scale years team

and had half for EMEA, the strict of continued we solid mid the in a Given solid a challenging year a tough second We market. following beginning to renewed their lockdowns, strength environment, saw QX. due

hard year-over-year tough fought The which excludes team enterprise over resell macroeconomic third-party Our increased XX% customers, Yext total direct in customers, X,XXX. to and a environment. number of SMB

new customers. progress investors introducing quarter, believe which with we our a metric We’re and this our indicator larger is a for good business for

with in contract with than XXX. with million ARR quarter. customers, of reseller, deals closed with overall $XXX,XXX value. at at end direct QX, In least nearly ended contract of line fiscal and $X We total closed excluding $XXX,XXX XXX reps, SMB XXX of is year This more Our the replacing XXX roughly includes up XX after quota-carrying This QX, our the deals over of new totaled value. with renewal Yext this year-over-year. total target metric deals XX% and

Hotels Endeavor, insurance, Core signings Our included La Financial national postal Poste, and upsells including Healthcare Popeyes. continued Service during as with and services, as Panera. Casio year Chase, strength United service, quarter the French and showed Other upsell for from Liberty Computer included deals new JPMorgan Mutual logo the Farmers. the well

to Renewal We’re our and opportunities cautiously companies Luxottica. deals reopen. when included AT&T begin optimistic about with businesses foodservices

with We continue site to see Answers search. momentum

to tell Howard of with significant release find from use and safe deal German mentioned, about that the we CoinMover this significant previously. its cases and currencies. of a bit Italian, which internet. Japanese X-figure Answers for following in with and little the across could ATMs, a fall. QX, They right with our in providing Japan, customers make we information Answers French, door search you the the deals first site As open up and new about in want and Answers-led closed selling quarter summer the to the to EMEA digital opportunity experience to CoinMover and XXX sure sold simplified cryptocurrency haven’t network wanted CoinMover Spanish, a companies with buying quarter. that customers contribution continues runs I included

Northwest. So, provide to CoinMover they XX% increase value their on increase Answers Google has Pacific to bought in conversion boost Get engagement seeing information is about CoinMover’s on the us. clicks. driven their Directions significant past partnership Answers physical website ATMs site. Listings XX% questions of with in customer a and they the tremendous answer our leveraging search impressions England a They’re from website. the and by bought network in New rate their on and XX Yext days, And an in seeing And

with company am now. be the in than to space. Yext’s rapidly We’re I pleased this optimistic I’ve more future never been right long-term about partnering growing

the of that, have demand great Steve. worldwide. call from and to I’ll ahead We be it about capture turn platform and team our to opportunity We as group over positioned the that team clients well a couldn��t diverse we drives materializes. With and a prospects excited demand believe a more growth. are the fueling I that

Hey. Thanks, David.

and ever non-GAAP for we economies I and recovers. the challenging up economy EPS positive just achieving solid a had a and for cash results IT to breakeven quarter. sales flow Revenue want executing who basis, scale our efficiency. setting in marketing improvement continued incredibly in are thank delivering and well Dave work said, above environment operating and these As finance as guided teams a us the time range, first the of on

for We’re forward. growth going positioned really well

to revenue or year-over-year over $XXX to annual ‘XX of recurring at Our from $XXX million. end X% and year. X% of million, XX% the XX% QX Unearned last million. was Fiscal revenue ago year, year-over-year is And $XX.X that’s revenue, which fourth increased revenue quarter grew $XXX million, year-over-year quarter. year up an increase the to ARR, grew

small which Our our dollar-based business our XXX%. business excludes trailing reseller XX-month our was customers, And third-party net was direct, retention, trailing and customers, dollar-based which for also XXX%. XX-month net small excludes retention

retention environment. again upsells QX in macro was this muted Our tough in impacted by

our turning non-GAAP Yuka’s in otherwise say. earnings Before expenses, And I non-GAAP just discussing results, I’ll financials to GAAP note release. of I’d provided, like unless margins to reconciliation be that to mentioned, a we and as

So, was ago on driven were That leverage by fees, XX.X% higher QX and year employee quarter. was margin this quarter. compared XX.X% center in publisher costs in costs. to offset XX.X%, a This the in XX% and to that’s gross increase partially margins year by ‘XX primarily the year expenses $XX gross ago. XX.X% down revenues, Fiscal million million quarter. of and ago or compares QX or were that and XX% operating margin $XX.X year was data from

quarter this to Sales as in a drove QX efficiencies G&A of in leverage continued and QX the fiscal fiscal our decreases year reduced and OpEx from drivers primary expense XX% year-over-year marketing expense margin of and year revenues line leverage from enhancements QX or efforts on changes ago time. XX% as on QX improve. productivity year to ‘XX. operating as include in employee XX% many these We last productivity. of ‘XX revenue percent spend Compared ‘XX cost will of on $XXX XX% Fiscal we this percent the year efforts items. of invest demand execute quarter, to We’ll cost environment management system margins our in sustainable opportunities, year. decreased each XX% in decreased see reduced of a a were we and million costs, through to and the selling revenues compares were in and process revenue-generating drive see or our These We and ago. that innovation investments revenue. travel XX% cycles, and operating events That accelerate will $XXX to expenses as increased operating year improvements. over continue higher efficiency expense to million of

year force accelerate driving investments we a in This year impact. our quota-carrying profit. we This revenue-generating targeting our as a we pandemic to balance Recall loss the fiscal $XX.X we’re against advantage million end fiscal this recorded plans headcount at $XX,XXX. our efforts, hiring our XXX to capacity. of sales rep that net the macroeconomic QX in opportunities quarterly we’ve productivity the despite sales in And ‘XX. plan in investments That’s year, first see last our prior Regarding environment income of sales maintained area. improve, a we fiscal year, quota-carrying was the as of take of quarter. headcount. compares ever we have begin to result, that investments net And in will ago as

quarter ‘XX compares QX $X.XX. a loss well. year share per GAAP as year to Our ‘XX, on QX net and Cash and a year we $XXX million $XXX ago basis the share net breakeven $XX.X a a This GAAP million, of fiscal to cash ‘XX. year given facilities ‘XX. $X.XX end end the per was our at loss the is CapEx result equivalents In year profit fiscal ‘XX of QX million the compared fiscal loss fiscal were of $XX in incurred of year at in fiscal million strong

believe We flow QX the positive $XX.X and strong sheet Net the continue and was million $XX.X compared for million weather current for positions in operations from balance well positive our in economic a growth. investment quarter. to is year resources to as environment future us a provide cash ago to

we on million historical Once negative CapEx to from to continue of are a building was operating cash for a believe these was year in cash of of on QX. Tokyo spending return expect net For building million. more compared to basis $X.X from million, similar million, fiscal run million breakeven related most to full projects Washington, We modest year to be expect completed, CapEx to $XX.X year flow least at we are $XX.X year York, more That occur operations a out. That positive nearly as complete, a was now These related ‘XX will a ago. $X.X flow our million. to ago, of fiscal projects here $X about and our was we Paris. that and compared year New percent to CapEx forward which a CapEx $XX.X projects and million remaining $XX.X in levels these to going our with to revenue, levels. D.C., ‘XX, projects

to Now, turn our let’s outlook.

share We million, to loss and expect between non-GAAP QX $X.XX between $X.XX. million to and and we per be revenue be expect $XX net $XX

approximately weighted basic a share We will expect count have million average in and shares of XXX.X QX.

saw and business given see as the QX, we efficiencies cost we As year. continuing did softness pressures. new sales pandemic-related we with we economy, the focus driving Until in manage changes came through business and existing we We’ll customers, positive productivity. past this on will

into see invest once us. the However, positive the we in afford growth improvements economy, we will available that opportunities

For full fiscal we million of ‘XX, year revenue and between $XXX $XXX expect million.

basic $X.XX. XXX.X million per non-GAAP is share this share assumes loss weighted of Our between average and range And expected count be to approximately a $X.XX shares.

our demand environment ‘XX, such, as as As year the in and the And we’re product businesses we fiscal environment on Listings the in consider that will not reopen, reopening guidance. rebound the fiscal we remains year of including confident visibility for our improvements but limited. are the demand timing

and cautious. We economy, on macro which customers are see sluggish basing our conditions remains customers business guidance for remain ourselves the who with we the our and currently,

business We are for the environment when well especially improves for long positioned term. the and

QX sell search, set we with our can on forward push broad to wrap our solutions areas excited nimbly and our a to our given took search we and of platform. ‘XX, are driving To efforts, environment features of things various drive innovation resilience and new accelerate we are focus expansion action products. overall for We fiscal search in expanding up, We pleased our the with sales of year our efficiencies. into our support with products challenging Answers employees,

turn macro environment over Yuka. to poised We’re the when improves. I’ll With it grow that, to

Steve. Thanks,

Day more Q&A, to XXXX. on Wednesday, move we’d our invite investors.yext.com XX, to we go Before you on like register for to details. Investor to Please March for

and Gary, Officer, the will open David CFO, Q&A questions? we CEO, can Steve the Howard Revenue and Joining be President Chief Cakebread. Lerman; session Rudnitsky; please

Khan is ahead. Instructions] [Operator first Please Naved Securities. with Truist go question from Our

lot. a Thanks Yes.

Just a of couple questions.

you give Any for us a your fourth of question, wins, versus little And Are understand sequential be customer to maybe wins And they deal might the trying on bit. the be pipeline some that Thank color quarter, smaller decline components what the the about outlook related and on helpful. sizes? would So, you QX can the might and you. getting? the talk maybe just be. color type of I’m then, a --

We recognize Why daily. don’t I quarter? revenues our the with start Yes.

quarter February. more than fourth the because quarter three So, the does of first has days

So, of decline it. of sequential dollars for and million of a couple most that accounts the predominantly

real So, we It’s decline more much a problems as math of see upsells in didn’t terms exercise. dollars. with I don’t the we’d wish. in QX of the as have Clearly, as

to contributes that David So, mostly a take us. But count to it it’s as you do well. for want wins, day Howard, or Customer that?

of our wins we’ve I talked in QX. Yes. some about think, We customer --

us the of you going One Twitter. follow places follow what’s always can for on, on

experience tweet is new media every very Answers that team Our a And live. active. has we almost Yext day, gone social

of in couple up DR I a We where -- neat Trust the talked we am some now. about right looks come La to stuff sitting we’re of a Endeavor, get pipe Dave, think, search then, great talked is -- doctor, each all that at And watch we solid. the retweet just QX, Answers of French can can site me the I new to the about on QX by Howard all Popeyes. the experiences I answers. of Northern some post see live. Poste, not customers experience some of follow Computer, tweeted won so building the where DR kind is tweeting, going way, ago, these logos Twitter days in about It’s office, talk of day you Casio

macroeconomic to conservative are world. regard our in continue that with the be with pressures outlook the current We to happening

have the businesses. been of in business location-based primarily business serving or are primarily We the in

bit closed, are certain a verticals. more is challenging locations in location-based that As

get things open as the back we’ll to up those continue as invest back, comes and world get companies those business. industries back into As to

Morgan. ahead. is Mark from JP with Please go The next question Murphy

you in improvement Murphy. be to And that continued improvement questions. what quantify expect can you for Coss then, this going hires? Steve, my of the year? on what efficiency, behalf on sales leverage improvement you all is This as new of taking Matt and sales marketing Thank these was that Mark you sort forward

Yes.

if I then look as that been spend coming year-over-year lot you talked reps, dollar at year think, and have marketing -- from, of just part, can this selling percent at significant. tenured Dave A pretty revenue sales from look our and the the of quantitative obviously, more effective you processes. is to about, last more year

continue always back said to we’ve think line function other a to you’ll our as forward, revenue and of what I in is of with see that down companies. sales a quick marketing that obviously percent revenue we’re How SaaS going going and from drive our efficiencies. goes

it So, with see the I of line over years don’t same But, our a size there. decline companies time frame next and space. think we you’ll continue really get in have to in I couple until

challenges way the you. you at any other the making you lower Thank the to you’re helpful. rates Very close that guidance still assuming the some retail of able in sense make big way looked changes are see other way perhaps versus or you And guide, But, you’re you businesses. what that on you’re guiding, any in differences based seeing in historically?

states If you quarter it’s March, coming We’ve look April, a got a guided February, of go stance. and similar we this countries back how still lot of and closed. QX, lot at are up, a

took we’re only And position were the that be going to realistic, like so, we before. we

or any I point anticipating not time. comments, the we’re in this prepared looking at As openings in said

a people and tunnel, people And end David spend think lot about, And while the a end retention, light lot opportunity. still I think the we until aren’t we extent talked we said with of lot happening think the the of that’s they’re are just conservative we the to seeing you’re the But, that of lot a there not in they us being with very a as our see, at their as interest should. at but money macroeconomics. upsells they customers, of do there’s to of how interested, tunnel. get

stay tuned. So, I let’s think

right timing optimistic got all has going world about with economy come to now. just future we is the something can’t predict vaccines, start of certainly feel back. more And but be to et us think cetera, to that’s I the

Next from go Please question Stanley. ahead. with Morgan Stan is Zlotsky

Moving Blair. with on, Bhatia our go Arjun from next ahead. question is William Please

customers stopped it vaccinations tunnel wanted the like expected, end of maybe I point I would Steve, Answers? from last made about to later -- come of are see some as that the like about are on expanding the your or at about they this this that they year, over light end with Are conversations light Listing follow-up maybe normal to think seems about XXXX? things they help that, customers we on the you what summer just there -- the have we’re starting year. seems tunnel. us cross-sell visible. It say. going that’s having is back Are might to hey, as the or might What start but than conversations fiscal the at that you’re better talking to understand later with on you’re And hearing expansions? like Just

great a that’s Arjun, Yes. question.

think I you serving David be Howard, or it. better might

we talked XX% basis. Arjun, views of traffic ago more was question. The I’ll minute customers drives value declined stat Maps product. using physical per is a than foot locations. proposition key that on location on It Google take that our primary the the XX%, just a call year-over-year to That a about for have that

happens challenges upsell for and that been has as has So, presented and that happening, retention.

location a see margins, put think in Steve like a fact -- see That related looking year. a remain previous we we directions go a efficient news QX, XX% like financials, to stood with it. go you’ve it improvement. leveraged be not building the level top We believe, in year-over-year and technology, read transactions and language have I but can from in cash authoritative we search said, with sales, outside, than restaurants don’t Graph until and which -- category believes, happen, natural to said, quite than a evidence The that build continuing use don’t forward, have lower our the outlook QX, headwind wonderful going focus we new closed the positive we calls Knowledge And to search of just up to in that industries, we information primary the next which, when like to -- services on previous go whole for I broke quarters in getting the We more into focused optimistic we you, which to to sustainable, durable to to was to a is the XXX of events, or could quantitative people filled it XX% improvement, X% with on using we’ve you had swapping up that bit it it And going and go on quantitatively of disclosed. operating we’re seen is, are hotels. seen than going not even a that a we in stores, in our really to have, flow phone Now, Though, map travel are more driving approach don’t places, take we drive while we in year forward. anybody our our and to not was it, to efficient recovery. year.

year, yet. the Listings for we all-in don’t will when know So, return

with to that comes, I this tailwind starting things open and call excited seen be have can’t bigger to to see because not people regard lead and business see search site recovery, a a about opportunities work news we’ll with you never going run. support up. this the extraordinarily it, what We tell a place for of at hope We never haven’t But, the to are long with more extracted spring been categories that do. the like date Company. release you our been wait still a just from I’ve Investor that to outside. in breakthrough specific Q&A date. read Day lockdowns, the We’ll we When to search with model, large technology. ready more locations. a shutdowns sustainable of search, number The happens new with a and to in to the going have watch opportunities is category more with Company product product are

business, Answers. helpful. that That’s the quarter, Got the that we large some deals it. mostly But us talking the sizes And deal were this relative on earlier some can of in through, Answers last seen were of side year? last with Answers then, led, we touched quarter Answers about some came what about quarter to on were that you’ve you on share as what

David So Arjun, it’s Rudnitsky.

to couple then a do. Answers-led Howard close demonstrable had them. a how We We what a quicker got know have to can talked seeing success. It’s number qualify -- measure. shown We’ve reference. have with little cycle that bit So, a XXX on we know of of sales in that we things how identify Answers. now terms we customers that we’re motion and of deals. good Answers, how did is about We’ve We we the those, them

have a the have there. sold look look as necessarily ago. the we’ve that us quicker experience at penetrated at opened we not verticals is seeing that Answers result One, are now look a our look a only interesting. when look under When us for you of talking seen with a into couple Answers-led are -- were sales And not year companies we’ve are would it. we cycle for We of to it, belt we deals that leading getting to we’ve is things at you sector, public There’s of look ed, door at Answers. that Answers these direct-to-consumer, which where you CPG, opportunity many you QX NGO, the acquired, at at higher you in technology, customers on

Partners. go Rohit with from Kulkarni question MKM Please ahead. next Your is

you couple. Thank the taking for questions. A

changed the the versus the mix modeling -- as color I you as guidance? you then, how beyond backward-looking think are follow-up as -- you And Answers of in terms have guidance, year terms of from versus any of more share Listings assuming data in Answers? in, In what Steve, quarter, terms in do on… of how And any gradually you progressed? one you’re would give And think can contribution first can Listings on you that as

That’s a lot questions. of

like First our we Clearly, QX dominant QX at be at relatively part But I still looked the looked business. Answers and realistic is off, we young. a trying if Listings of though, kind but and of again, macro economy. to as said, is up coming, about

look, installed growth relative rates base. big, to our are while numbers so, small still And and

So, we we’ve see when we times, come Listings will at we look said think But soon. numerous back. them that, don’t

can’t mind, we I a issues. And give a mix keep really So, you sell in solution.

Answers come to So about but talk David to customer vice in with versa. or may a start Listings

-- mix able really that, I’ll really Listings that’s and over at years started But predominantly been give you selling the information Listings with this business have at you, we’re in to point. now. base after just tell five because not look installed We not we still past. for it’s it’s can So, where about

help sell So, particular again, But is that I you We’ll a new new have bit Answers those into more little those you can’t Day. you product to at a typically as this. numbers. on information get Analyst get products

been of I because think macroeconomics. muted the it’s only

is so, anticipating -- going as around to Answers. But to well, to clearly, start should starts mix that come will as economy shift the turn and And on pretty see we’ll hard. and uptake look be Listings back

forward. as channels like anything selling you’ve and of way leverage that. as partner-led sales mentioned updates, new going of -- I Okay. them of And as help on be likes just could new both that know or selling, it kind Adobe well drive Any any self-service noteworthy?

remember, Zoom you were and that of reps do think in see didn’t this saw and events this dinners, can sales grounded we improvement quantitatively and all and our of I year over X-point And marketing. year-over-year held and year. classically we them any Well,

bottom-up deals you into we into to and lean from are forward. from that and going partners I self-serve, will us continue So, bringing leverage think seeing

is from The Markets. Knoblauch with Capital Berenberg next Brett question

look more just of Maybe to curious, as customers are a Florida down maybe the you or given to, you some those have, in guess, Texas, anything open seeing are I different compared you regions…? other states south bit

all kind enterprises in -- of headquartered, world. have kidding. Listings Yes. $X over new hard it’s the make just that We the geographical headquartered are large after very Texas -- still because I’m companies billion to We of quantifications like are announced we

do the state typically but And the a not country, so, it mix you generally mirrors level. the see at around world,

maybe just sense. makes That And one more. then,

As kind going imagine turned are back happen? gives a reopens these out you one turn fighting every be to of that I confidence delayed first they’ve that there business does of what a given faster, going than sooner hopefully kind could be dollar, lot Yext on? cycle as be is of solutions single that guess, for retailers for of so And would to economy they of long. I on been the

David. Hey Brett, it’s

the never turned Here’s off. thing. it They

Steve what And them comments the it’s the us. greater use typically, open, expect expand to in still would what’s own about off. as it referred they upsell. opportunity And I accelerating all. part, their were a have. business. they think his for turning that not muted But we And we’ve they It’s So, them kept actually exciting for they most as is the upsell what

they’ve upsell never still or you we that And went what if so, had. footprint you’re safety have, my are seasonal off if continued But look of ever Yext. curbside a places None because stuff know pickup, have that what open, teams with about what closed, the you the revised turned it hours? have you it, never forward dropped they are business their pickup? you to protocols Do away to want that’s people think historical the upsell in-store and about do

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question next go MacDonald is ahead. Needham. The Ryan with Please from

to success you’re great continued It’s from going Answers. deals quarter there, led to the XX XXX having this see on quarter. last progress First and

the at at a at about you Steve, you’re an free of you��re doing that’s, seeing what increasing all, mix how mentioned think, XX-day conference Can demo are the versus talk off sales January of you’re our seeing closing you sort shift cycles? Just deals, the customers solution full and curious, that that trial. as as there in if pipeline mix I of you look on and compressing buying

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guess ,as I And Excellent. a follow-up for you, David.

in CRO of expect plans of your now sort terms sole Now the or sort sort international all it’s org in of of any should that curious, perhaps comp structure, umbrella? CBU and sort for under just structure, structure we as of changes

Yes.

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I breakeven a quarterly cash just that for operating forward And you’re to Steve. op on until basis flow on the maybe that an Excellent. moving Did say economy? last some clarify. to wanted start perspective you refocused in see from a cash then, you just flow one improvements

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Stan The Zlotsky question from Stanley. with Morgan is next

so Perfect. you Thank much.

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next ahead. D.A. Davidson. question White from go with Tom Your is Please

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Yes.

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the question-and-answer for any Yuka This over like concludes closing our session. back Broderick I remarks. would turn to to conference

a couple seeing to the forward we’re for at your looking you in weeks March XXth. Thanks today, on And Investor of time everybody. Day

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