Business
Thryv Grows SaaS Revenue 41% Year-Over-Year for Third Quarter 2021
Raises Revenue Guidance for Full Year 2021 DALLAS--(BUSINESS WIRE)-- Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®
About this update from Thryv Holdings, Inc.
[{"type":"text","content":"\nRaises Revenue Guidance for Full Year 2021\n\n DALLAS--(BUSINESS WIRE)--\nThryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv® software, the end-to-end client experience platform for growing small businesses, announced financial results for the third quarter 2021. The Company has also raised its 2021 outlook for its SaaS segment.\n\n“We are experiencing the modernization of the local economy with SMB's beginning to embrace cloud technologies and we see Thryv as leading the charge. This wave of adoption has propelled Thryv software to faster and faster growth,\" said Joe Walsh, CEO and president of Thryv. “We are seeing improvements in customer engagement, average spend and retention. These trends are delivering durable SaaS growth for Thryv. We are pleased to, once again, raise SaaS revenue guidance for 2021.\"\n\nThird Quarter 2021 Financial Highlights:\n\n\nUS SaaS revenue was $45 million, a 41% increase year-over-year\n\n\nUS Marketing Services revenue was $213 million\n\n\nThryv International revenue was $39 million\n\n\nConsolidated total revenue was $297 million, an increase of 24% year-over-year\n\n\nConsolidated net income was $36 million\n\n\nConsolidated adjusted EBITDA was $102 million, representing an adjusted EBITDA margin of 34%\n\n\nConsolidated gross profit was $193 million, an increase of 43% year-over-year\n\n\nConsolidated adjusted gross profit was $208 million\n\n\nAdditional US Business Highlights\n\n\nSaaS Average Revenue per Unit (\"ARPU\")1 increased to $340 for the third quarter of 2021, compared to $260 in the third quarter of 2020\n\n\nTotal SaaS clients increased by 2% year-over-year to 45,000 for the third quarter of 2021\n\n\nSaaS Monthly Churn2 was 2.1% for the third quarter of 2021, compared to 2.7% for the third quarter of 2020\n\n\nSaaS Monthly Seasoned Churn3 was 1.7% for the third quarter of 2021\n\n\nNet Dollar Retention4 improved 11 percentage points to 90% at end of the third quarter of 2021, when compared to the third quarter of 2020\n\n\nSeasoned Net Dollar Retention5 improved 9 percentage points to 95% at end of the third quarter of 2021, when compared to the third quarter of 2020\n\n\nSaaS active users and usage frequency reached a new all-time high as monthly active users6 increased 15%year-over-year\n\n\nOutlook:\n\nThe Company is updating guidance7 ...