- Last year, Yext launched its new, significantly TAM expanding product: Yext Official Answers (Engine). It already contributed 30% of new NA ACV in Q2.
- In order to accelerate adoption, Yext started a free trial program. Yext, which had just 2200 customers, noted that it got “thousands” of requests for these free trials.
- While earnings and guidance wasn’t spared from macro issues, the potential of converting thousands of new customers to Answers seems promising.
- While not the fastest growing company, given its niche business it has a large runway for long-term growth. Any (post-pandemic) uptick in growth rates might result in multiple revaluation.
For further details see:
Yext: What Happens When All Those Free Trials Convert