Commitments and Contingencies

9 Months Ended

Oct. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Contractual Obligations

The Company is obligated to make payments under certain non-cancelable contractual obligations in the normal course of business. The Company's obligations primarily relate to its operating lease arrangements for office space, as well as its other obligations, including contracts with its Knowledge Network application providers and software vendors. The Company's contractual obligations have various expiry dates between fiscal years 2020 and 2035.

As of October 31, 2019, future minimum payments under these contractual obligations are as follows (in thousands):



Fiscal year ending January 31:	Operating Leases		Other
2020 (remainder of fiscal year)	$	3,027	$	11,515
2021	14,174		10,883
2022	19,070		3,716
2023	18,444		601
2024 and thereafter	141,281		428
Total payments	$	195,996	$	27,143

Performance Bond

The Company's operating lease arrangement associated with office space in New York requires a performance bond to secure the completion of certain potential construction work, when a reasonable estimate of such work is available. As of October 31, 2019, the Company has not executed or issued a performance bond and no payments have been made.

Legal Proceedings

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 any 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.