Yext, Inc.
Climate Impact & Sustainability Data (2024-04-30)
Reporting Period: 2024-04-30
Environmental Metrics
Social Achievements
- Launched restructuring actions impacting approximately 12% of full-time employees.
- Promoted Yvette Martinez-Rea to Chief Operating Officer.
Climate Goals & Targets
Medium-term Goals:
- Growth accelerating into the high-single digits in the first half of next year.
Short-term Goals:
- Achieve organic ARR growth in the mid-single digit range by the end of FY25.
Environmental Challenges
- Difficult selling environment with headwinds in deal cycles, budget pressures, and scrutiny.
- Cautious enterprise IT buyers impacting business.
- Continued headwinds to retention this year.
Mitigation Strategies
- Strategic actions implemented across the business to enhance operating efficiency and profitability.
- Restructuring to create a more efficient and scalable cost model.
- Slowed pace of sales hiring.
- Proactive approach to partnering with customers to deliver value.
- Enhanced customer centricity to renewals, restructuring partnerships, and focusing on value drivers like more support and services.