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Commitments and Contingencies | 6 Months Ended
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Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Contractual Obligations The Company is obligated to make payments under certain non-cancelable contractual obligations in the normal course of business. The Company's contractual obligations primarily relate to its operating lease arrangements for office space. Its other contractual obligations include contracts with its Knowledge Network application providers, which generally have a term of one year, although some have a term of several years, and its software vendors, among others. These obligations represent minimum contractual payments, or the Company's best estimate for variable elements based on historical payments. The Company's contractual obligations have various expiry dates between fiscal years 2023 and 2035. As of July 31, 2022, the Company's contractual obligations are as follows (in thousands):
Fiscal year ending January 31: |  | Operating Leases |  | Other
2023 (remainder of fiscal year) |  | $ | 9,485 |  |  | $ | 22,234 |
2024 |  | 18,694 |  |  | 17,308 |
2025 |  | 18,229 |  |  | 9,473 |
2026 |  | 19,092 |  |  | 1,834 |
2027 |  | 19,187 |  |  | 1,537 |
2028 and thereafter |  | 74,962 |  |  | 390 |
Total |  | $ | 159,649 |  |  | $ | 52,776 |
Legal Proceedings Menzione v. Yext, Inc., et al., No. 1:22-cv-05127 (S.D.N.Y.) On June 17, 2022, a putative class action lawsuit was filed in the United States District Court for the Southern District of New York by a purported purchaser of Company securities. The complaint names the Company, its former Chief Executive Officer (Howard Lerman), and its former Chief Financial Officer (Steven Cakebread) as defendants. The complaint alleges that the defendants purportedly made false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects, including information regarding the effects of the COVID-19 pandemic on the Company. The purported class includes all persons and entities that purchased or acquired our securities between March 4, 2021 and March 8, 2022. The complaint seeks monetary damages for alleged securities law violations. Motions for appointment as lead plaintiff and lead counsel were filed on August 16, 2022. On September 6, 2022, the court appointed the Operating Engineers Construction Industry and Miscellaneous Pension Fund to be lead plaintiff for the purported class, and Robbins Gellar Rudman & Dowd LLP to be lead counsel for the purported class. Yext believes it has meritorious defenses to the claims and intends to defend itself vigorously. In addition to the litigation described above, the Company is and may be involved in various legal proceedings arising in the normal course of business. Although the results of litigation and claims cannot be predicted with certainty, currently, in the opinion of the Company, the likelihood of any material adverse impact on the Company's results of operations, cash flows or the Company's financial position for any such litigation or claims is deemed to be remote. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense costs, diversion of management resources and other factors. Warranties and Indemnifications The Yext platform is in some cases warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company's product specifications. The Company's arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third-party's intellectual property rights and/or if the Company breaches its contractual agreements with a customer or in instances of negligence, fraud or willful misconduct by the Company. To date, the Company has not incurred any material costs as a result of such obligations and has not accrued any liabilities related to such obligations in the accompanying condensed consolidated financial statements. The Company has also agreed to indemnify certain of its directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person's service as a director or officer, including any action by the Company, arising out of that person's services as the Company's director or officer or that person's services provided to any other company or enterprise at the Company's request. The Company maintains director and officer insurance coverage that would generally enable the Company to recover a portion of future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions.

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