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Yext, Inc. (NYSE:YEXT) Q2 2019 Earnings Appointment Alarm August 30, 2018 5:00 PM ET
James Hart – Vice President, Investor Relations
Howard Lerman – Founder and Chief Executive Officer
Jim Steele – President and Chief Acquirement Officer
Steve Cakebread – Chief Banking Officer
Zachary Schwartzman – RBC Capital Markets
Alex Zukin – Piper Jaffray
Naved Khan – SunTrust Robinson Humphrey, Inc.
Stan Zlotsky – Morgan Stanley
Matthew Coss – JP Morgan Chase & Co.
Brent Bracelin – KeyBanc Capital Markets Inc.
Good afternoon and acceptable to the Yext Added Division Budgetary 2019 Earnings Appointment Call. All participants will be in listen-only mode. [Operator Instructions]. Afterwards today’s presentation, there will be an befalling to ask questions. [Operator Instructions] Amuse calendar this accident is actuality recorded.
I would now like to about-face the appointment over to James Hart, Vice President of Investor Relations. Amuse go ahead.
Thank you, Austin, and acceptable afternoon, everyone. Acceptable to our anniversary appointment call. With me today are Howard Lerman, CEO of Yext; Steve Cakebread, CFO; and Jim Steele, President and Chief Acquirement Officer. As a reminder, this alarm cannot be taped or contrarily bifold afterwards the company’s above-mentioned consent.
Before we begin, I would like to admonish anybody that this alarm may accommodate advanced statements, including statements about acquirement and non-GAAP net assets guidance, banknote flow, gross margin, our industry outlook, bazaar opportunities, business performance, banking angle and added non-historical statements as added declared in our columnist release.
These advanced statements are accountable to assertive risks, uncertainties, and assumptions, including those accompanying to Yext’s growth, change of our industry, artefact development and success, bazaar opportunities and accepted bread-and-butter and business conditions. These statements reflect the company’s accepted expectations based on its beliefs, assumptions and advice currently attainable to it.
Although we accept these expectations are reasonable, we undertake no obligation to alter any anniversary to reflect changes that activity afterwards this call. Descriptions of these and added risks that could anniversary absolute after-effects to alter materially from these advanced statements are discussed in our letters filed with the SEC, including our best contempo abode on Form 10-K and our columnist absolution that was issued this afternoon. During the call, we will additionally accredit to non-GAAP banking measures. Reconciliations with the best commensurable GAAP measures are additionally attainable in the columnist release, which is attainable at investors.yext.com.
With that, we will activate by axis the alarm over to Howard.
Thank you, James, and acknowledge you anybody for abutting us today. We had an amazing division and a absolutely able bisected to the aboriginal bisected of the year, accent by almanac revenues and connected advance in the mid 30% range.
Just a few highlights. Acquirement grew 35% over the added division aftermost year, able-bodied aloft the high-end of our advice for the quarter. Gross accumulation added 36% and we about bigger our anniversary non-GAAP net loss, and because of the connected backbone and acceptable new business, deferred acquirement added added than 50% against aftermost year.
Our advance in deferred comes in allotment from the about 80 new activity logos we won this quarter. This includes some of the best-known brands in the United States, Europe and Japan. Brands like AT&T, Deutsche Telekom, MetroPCS, Vodafone, Chanel, Alexander McQueen, Balenciaga, Yamato Transport, which is the bigger aircraft accession in Japan. And while we abide to assurance new logos, we are consistently attractive to abound our relationships with absolute accounts.
During the quarter, we additionally active renewals or expansions with Jaguar Acreage Rover, Home Depot, Domino’s Pizza, Enterprise, NAPA Auto Parts, Massage Envy and many, abounding more. DKM is added ambrosial to all types of businesses and aloft all geographies: telecom, auto, banking services, biking and hospitality, healthcare, aliment services, retail, the United States of America, Germany, The United Kingdom, Japan advice about the apple is affective from impaired abstracts area you accept to do the cerebration to acute databases that advanced for you.
For example, let’s say you capital to apperceive LeBron James’ scoring boilerplate aftermost year. You go to NBA.com, you accessory for the stats section. You bang on alliance leaders. You see a table. You browse the rows for LeBron’s name. Afresh you accessory at the cavalcade headers to acquisition credibility per game. You acquisition the cell. You see the answers 27.5. Your academician accept to do the thinking, the estimation of the data, the calculation. Now maybe that wasn’t too hard. But what if you appetite to apperceive how abounding credibility Mason Plumlee denticulate aftermost year? Now because he wasn’t a alliance leader, he is abounding pages abysmal into the table. With the certificate you accept to coursing and acquisition advice yourself and not all advice is in the document. What if you capital to apperceive how abounding credibility did LeBron anniversary against the Lakers aftermost year or what’s the Miami Heat all time almanac on Saturdays?
Today the apple
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