Free cash flow generation remains erratic, swinging from negative $20.3M to positive $37.0M in recent quarters, with operating cash flow heavily influenced by over $11M in quarterly stock-based compensation and large working capital swings.
Yext, Inc. (YEXT) cash flow statement — 12-year operating, investing & financing cash flows
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 |
|---|
| Cash from Operations | 55.09M | 55.85M | 50.21M | 46.16M | 17.85M | 21.85M | 1.2M | -30.77M | 5.24M | -31.91M | -7.74M | -10.53M | -14.23M |
| Operating CF Margin % | - | 12.51% | 11.93% | 11.42% | 4.45% | 5.59% | 0.34% | -10.3% | 2.3% | -18.75% | -6.23% | -11.73% | -23.71% |
| Operating CF Growth % | -54.71% | 11.22% | 8.78% | 158.54% | -18.29% | 1714.7% | 103.91% | -687.18% | 116.42% | -312.1% | 26.43% | 26.02% | - |
| Net Income | 26.12M | 37.87M | -27.95M | -2.63M | -65.94M | -93.26M | -94.69M | -121.54M | -74.84M | -66.56M | -43.15M | -26.5M | -17.27M |
| Depreciation & Amortization | 32.76M | 36.41M | 27.26M | 24.61M | 26.38M | 26.08M | 22.82M | 19.19M | 6.81M | 5.12M | 4.08M | 3.11M | 1.19M |
| Stock-Based Compensation | 43.09M | 48.71M | 51.78M | 44.96M | 63.08M | 73.48M | 72.29M | 67.77M | 44.23M | 22.36M | 9.85M | 4.51M | 2.9M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 2.55M | 1.25M | -43K | -129K | 31K | -1.06M | 0 |
| Other Non-Cash Items | 12.08M | -16.26M | 4.57M | 1.43M | 1.38M | 1.83M | -489K | 120K | 452K | 1.26M | 1.01M | 969K | 57K |
| Working Capital Changes | -58.95M | -50.88M | -5.45M | -22.21M | -7.05M | 13.71M | -1.27M | 2.45M | 28.62M | 6.04M | 20.43M | 8.45M | -1.11M |
| Change in Receivables | -104.14M | -8.31M | -1.12M | 518K | -10.06M | -6.11M | -17.99M | -26.98M | -11.6M | -17.04M | -4.12M | -12.14M | -4.95M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 3.56M | -2.84M | -6M | -4.3M | -2.06M | -148K | -1.05M |
| Change in Payables | -22.64M | -4.87M | 17.04M | -10.18M | 2.71M | -494K | -1.98M | 8.27M | 17.33M | 350K | 6.04M | 8.27M | 1.05M |
| Cash from Investing | -3.18M | -21.36M | -91.49M | -2.73M | -6.19M | -13.42M | -65.11M | 39.31M | 28.13M | -88.12M | -3.8M | -10.01M | -7.84M |
| Capital Expenditures | -2.11M | -2.56M | -2.08M | -2.73M | -6.19M | -13.42M | -65.11M | -11.89M | -5.27M | -3.67M | -3.8M | -9.86M | -1.92M |
| CapEx % of Revenue | 0.48% | 0.57% | 0.5% | 0.67% | 1.54% | 3.44% | 18.36% | 3.98% | 2.31% | 2.16% | 3.06% | 10.98% | 3.2% |
| Acquisitions | -1.07M | -18.8M | -89.41M | 0 | 0 | 0 | 0 | 0 | 5.27M | 3.67M | 0 | -150K | -5.91M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51.2M | -5.27M | -3.67M | -298K | -96K | 0 |
| Cash from Financing | -161.57M | -9.52M | -28.54M | -23.25M | -79.02M | 24.62M | 22.55M | 168.37M | 24.38M | 129.6M | 5.97M | 1.65M | 50.36M |
| Debt Issued (Net) | 49.5M | 99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5M | 5M | 0 | 0 |
| Equity Issued (Net) | -175.36M | -65.28M | -17.91M | -23.09M | -76.54M | 24.88M | 0 | 147M | 0 | 123.53M | 0 | 1.2M | 50.08M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -177.76M | -67.43M | -17.91M | -23.09M | -77.25M | 0 | 0 | 0 | 0 | 0 | 0 | -28.28M | 0 |
| Other Financing | -35.71M | -43.25M | -10.63M | -168K | -2.48M | -263K | 22.55M | 21.37M | 24.38M | 11.08M | 968K | 449K | 279K |
| Net Change in Cash | -109.17M | 30.52M | -71.53M | 19.97M | -71M | 30.8M | -37.77M | 176.42M | 57.39M | 9.95M | -5.61M | -18.92M | 28.27M |
| Free Cash Flow | 52.98M | 53.29M | 48.13M | 43.43M | 11.66M | 8.43M | -63.91M | -42.66M | -30K | -35.58M | -11.55M | -20.38M | -16.15M |
| FCF Margin % | 11.96% | 11.93% | 11.43% | 10.74% | 2.91% | 2.16% | -18.02% | -14.27% | -0.01% | -20.91% | -9.29% | -22.71% | -26.91% |
| FCF Growth % | -20.51% | 10.73% | 10.82% | 272.46% | 38.3% | 113.19% | -49.82% | - | 99.92% | -208.18% | 43.35% | -26.21% | - |
| FCF per Share | 0.51 | 0.41 | 0.38 | 0.35 | 0.09 | 0.07 | -0.53 | -0.38 | -0.00 | -0.45 | -0.14 | -0.27 | -0.22 |
| FCF Conversion (FCF/Net Income) | 2.03x | 1.47x | -1.80x | -17.55x | -0.27x | -0.23x | -0.01x | 0.25x | -0.07x | 0.48x | 0.18x | 0.40x | 0.82x |
| Interest Paid | 0 | 0 | 9K | 0 | 41K | 75K | 54K | 41K | 7K | 74K | 3K | 0 | 0 |
| Taxes Paid | 0 | 0 | 3.18M | 2.72M | 1.05M | 1.32M | 1.41M | 531K | 19K | 994K | 19K | 0 | 0 |
Quick answers to the most common questions about buying YEXT stock.
Yext, Inc. (YEXT) generated $55.8M in net cash from operating activities in 2026. This reflects the cash generated directly from core business operations.
Yext, Inc. (YEXT) generated $53.3M in free cash flow in 2026. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Yext, Inc. (YEXT) spent $2.6M on capital expenditures in 2026. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2026, Yext, Inc. (YEXT) spent $67.4M on share repurchases. This shows the company's commitment to returning capital to its equity investors.
Key Metrics
Top Statement Risk
AI Search Disruption to Core Listings
Metrics are mathematically derived from official filings.
Earnings Quality Masked by Working Capital Swings
The volatile relationship between net income and operating cash flow, with an OCF/NI ratio swinging from 14.26 in 2027Q1 to 0.60 in 2027Q2, suggests that reported profitability is heavily influenced by non-cash items and working capital timing rather than consistent cash generation.
The wide dispersion in the OCF/NI ratio indicates that net income is not a reliable proxy for cash generation in any given quarter. This volatility is primarily driven by large, erratic swings in working capital, which have ranged from a $24.6M source in 2025Q1 to a $47.9M use in 2026Q3. Investors should focus on the underlying trend of operating cash flow, which has recently turned positive, but the quality of earnings remains questionable due to this disconnect.
FCF Volatility Amidst Profitability Shift
Free cash flow has been highly erratic, ranging from a negative $20.3M in 2026Q3 to a positive $37.0M in 2027Q1, indicating that the recent shift to profitability has not yet translated into a stable, predictable FCF stream.
The FCF margin has swung from -18.2% to 34.3% within a two-quarter span, a pattern inconsistent with a mature, recurring revenue business. This volatility appears driven by the same working capital dynamics impacting operating cash flow, rather than by changes in capital expenditure, which remains minimal. The trajectory suggests that while the company is now generating cash, its predictability is low, making forward modeling challenging.
Working Capital as the Primary Cash Flow Driver
Working capital changes have been the dominant factor in Yext's quarterly cash flow, with a massive $47.9M cash outflow in 2026Q3 followed by a $24.6M inflow in 2025Q1, indicating significant lumpiness in collections or payment cycles.
The magnitude of these swings suggests that Yext's cash flow is highly sensitive to the timing of large enterprise contract payments and renewals, which can create significant quarterly noise. The negative working capital change in 2027Q2 of $24.4M, despite positive net income, indicates that cash collection may be lagging revenue recognition. This pattern warrants monitoring as it could signal potential future cash flow pressure if collection cycles lengthen.
Share Repurchases Dominate Capital Returns
The company has prioritized share repurchases as its primary capital deployment, with a notable $146.8M spent in 2027Q1 alone, suggesting management views the stock as undervalued despite the operational challenges.
The aggressive buyback activity, particularly the large 2027Q1 transaction, has consumed the majority of free cash flow and appears to be a key component of the capital allocation strategy. This focus on repurchases over debt reduction or strategic acquisitions indicates a confidence in the business's cash-generating ability, but it also reduces financial flexibility. The lack of dividend payments and minimal acquisition activity further underscores this singular focus on returning capital to shareholders via buybacks.
Cash Flow Obscured by SBC and Working Capital
Stock-based compensation, averaging over $11M per quarter, represents a significant non-cash add-back that inflates operating cash flow, while the erratic working capital movements make it difficult to assess the true underlying cash generation of the business.
The consistent, large SBC expense means that a substantial portion of reported operating cash flow is not available for distribution to shareholders without dilution. Furthermore, the extreme volatility in working capital, which has swung by over $70M between quarters, obscures the core cash conversion cycle. These factors mean that headline cash flow metrics may overstate the company's sustainable cash-generating power, and investors should adjust for SBC and normalize for working capital to understand the true cash trend.