Yandex N.V. Stock Price, News & Analysis

Yandex (NASDAQ:YNDX) reported robust financial results for Q4 and FY 2022, showcasing a 49% increase in total revenues to 164.8 billion RUB. Adjusted EBITDA surged 77% to 17.2 billion RUB, resulting in an improved margin of 10.4%. Despite a net income of 7.1 billion RUB in Q4, the company faced a yearly net loss of 14.7 billion RUB. The Russian search market share rose to 62.6%, with significant growth in e-commerce revenues, which grew 63% year-over-year. However, future guidance remains uncertain due to geopolitical risks.

Yandex N.V. (NASDAQ:YNDX) announced the approval of all resolutions at its 2022 Annual General Meeting of Shareholders (AGM). Key outcomes included the re-appointment of Rogier Rijnja, Charles Ryan, and Alexander Voloshin to the Board of Directors for four-year terms. Voting results showed significant support: 476,673,236 votes for the discharge of directors, 480,679,108 votes for the cancellation of Class C shares, and 444,753,091 votes supporting the issuance of additional Class A shares.

Yandex N.V. has initiated a strategic review of its ownership and governance structures amid current geopolitical challenges. The Board of Directors formed a special committee to evaluate various scenarios, including the independent development of international services and the divestment of existing operations in Russia. Potential governance transfers to management are also on the table. While the process is in its early stages and hinges on shareholder approval, Chairman John Boynton emphasized the commitment to protecting shareholder value and employee opportunities.

Yandex (NASDAQ:YNDX) reported robust financial results for Q3 2022, with total revenues of RUB 133,163 million, a 46% increase from Q3 2021. Adjusted EBITDA surged by 256% to RUB 20,003 million, leading to a margin rise to 15%. The company posted a net income of RUB 45,541 million, compared to a loss of RUB 3,908 million in the previous year. Its share of the Russian search market rose to 62%, with notable growth in mobile search. Yandex Plus subscribers increased by 53% to 15.8 million. Despite positive results, the outlook remains cautious due to geopolitical uncertainties.

Yandex N.V. provided an update on its $1,250,000,000 0.75% Convertible Notes due 2025. The company has repurchased $1,233,200,000 of these Notes, representing 98.7% of the total issued. Due to U.S. OFAC restrictions, Yandex cannot redeem the remaining $16.8 million in Outstanding Notes, which constitutes a Potential Event of Default. Additionally, the company failed to make an interest payment due on September 3, 2022, which will also be classified as an Event of Default after September 17, 2022. Yandex remains committed to addressing its obligations regarding the Outstanding Notes.

Yandex N.V. announced the completion of two significant transactions on September 12, 2022: the sale of its news aggregation platform and Zen infotainment service to VK and the acquisition of 100% of the food delivery service Delivery Club. The Federal Antimonopoly Service approved both transactions, with Delivery Club joining Yandex's E-commerce, Mobility, and Delivery segment, set to be reflected in the third quarter financials. This strategic move aims to enhance Yandex's market position in the food delivery sector.

Yandex N.V. announced a strategic divestiture, selling its news aggregation and Zen infotainment services to VK, a major Russian social media company. In exchange, Yandex will acquire 100% of the food delivery service Delivery Club. This decision was made to better serve stakeholders by refocusing on core technologies and services such as search and advertising. The Yandex main page will shift to ya.ru, with a new Android app featuring the search engine. The transaction is pending anti-monopoly approval and expected to close soon.

Yandex N.V. has acquired an additional $48.6 million of its 0.75% Convertible Notes due 2025. Following previous purchases that reduced the total outstanding amount to $84.4 million, Yandex's latest acquisition leaves $35.8 million in Outstanding Notes. Of the latest amount, $5.6 million has been cancelled, but $43 million remains pending due to European clearing system restrictions. Yandex encourages holders of the Outstanding Notes to contact its Investor Relations for future discussions.

Yandex (NASDAQ:YNDX) reported robust Q2 2022 results, with total revenues increasing by 45% to 117,748 million RUB. Online ad revenues rose by 22% to 48,430 million RUB. Adjusted EBITDA surged by 345% to 25,694 million RUB, resulting in an adjusted EBITDA margin of 21.8%. Net income transitioned to a profit of 8,056 million RUB compared to a loss of 4,664 million RUB in Q2 2021. Yandex's share of the Russian search market grew to 62.1%, while the number of Yandex Plus subscribers reached 13.75 million, reflecting a 53% increase.