Business
Thryv Grows SaaS Revenue 24% Year-Over-Year in First Quarter 2023
– First quarter total SaaS clients increased 15% and SaaS monthly active users increased 25% year-over-year – Efficient customer channels and operating
About this update from Thryv Holdings, Inc.
[{"type":"text","content":"\n– First quarter total SaaS clients increased 15% and SaaS monthly active users increased 25% year-over-year\n– Efficient customer channels and operating leverage deliver strong SaaS EBITDA outperformance\n\n\n DALLAS--(BUSINESS WIRE)--\nThryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv, the leading small business software platform, announced that its SaaS revenue grew 24% year-over-year in the first quarter of 2023.\n\n\n“We delivered strong first quarter results,” said Joe Walsh, Chairman and CEO. “Every success metric is steady or increasing year-over-year and quarter-over-quarter. We performed well against our guidance, reporting strong SaaS revenue growth, improving SaaS Adjusted EBITDA, and increasing marketing services revenue. Our key SaaS metrics, subscribers and ARPU, showed continued strength as a result of prioritizing innovation and execution. This gives us strong predictability and reflects steady, smart growth. We are intensely focused on increasing engagement and usage because these lead to increased renewal and spend.”\n\n\n“Acquisitions of well-run marketing services businesses are a key part of our strategy,” Walsh continued. “We are pleased to announce we've acquired Yellow Holdings Limited, the official yellow pages publisher of New Zealand. Also known as Yellow, the company has been New Zealand's leading marketing services company for more than 50 years and has over 10,000 digital clients. Yellow's excellent team will now be able to guide local business owners who are ready to modernize their business, and, as a result, adopt our Thryv platform.”\n\n\nThryv continues to roll out new products based on its “center” strategy. The most recent launch, Marketing Center, is gaining client sign-ups by providing tools SMBs need to market and grow. With the launch of additional centers over the next few years, Thryv will offer additional functionality at a variety of price points. As a small business scales and gains incremental value through its Thryv platform, clients will be able to expand the solutions they purchase from Thryv.\n\n\n“Looking ahead to the rest of 2023, we remain confident in our previous full year SaaS revenue guidance and are focused on achieving SaaS EBITDA profitability,” said Paul Rouse, Chief Financial Officer. “As a result of our recent acquisition of Yell...