Business
Thryv Raises SaaS Revenue Guidance and Reports Second Quarter 2021 Financial Results
SaaS Revenue Grows 32% Year-Over-Year 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":"\nSaaS Revenue Grows 32% Year-Over-Year\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 second quarter 2021. The Company has also raised its 2021 outlook for its SaaS segment.\n\n“During Q2, we saw strong and continued growth in our SaaS business,” said Joe Walsh, CEO and president of Thryv. “Small businesses are moving to the cloud and we are providing them the tools they need to automate and modernize their businesses. As a result of our efforts, we are seeing accelerated growth and we are raising our SaaS revenue guidance for 2021.”\n\n“We see clients putting their faith in us as they take that leap to manage and grow their business using modern small business software. Small businesses need an end-to-end solution, not several different point solutions. Multiple solutions are expensive and are difficult to manage. Thryv provides the frictionless and simplified experience small businesses need.”\n\nSecond Quarter 2021 Financial Highlights:\n\n\nU.S. SaaS revenue was $41.4 million, a 32.3% increase year-over-year\n\n\nU.S. Marketing Services revenue was $202.8 million\n\n\nThryv International Marketing Services revenue was $46.9 million, net of a $27.8 million deferred revenue purchase price accounting adjustment\n\n\nConsolidated total revenue was $291.0 million\n\n\nConsolidated net income was $24.4 million\n\n\nConsolidated adjusted EBITDA was $96.8 million, representing an adjusted EBITDA margin of 33.2%\n\n\nConsolidated gross profit was $178.4 million\n\n\nConsolidated adjusted gross profit was $195.3 million\n\n\nAdditional US Business Highlights\n\n\nSaaS ARPU increased to $323 for the second quarter of 2021, compared to $232 in the second quarter of 2020\n\n\nTotal SaaS clients increased sequentially to 45 thousand for the second quarter of 2021\n\n\nSaaS monthly churn was 2.1% for the second quarter of 2021, compared to 3.0% for the second quarter of 2020\n\n\nNet Dollar Retention improved 18 percentage points to 92% at end of the second quarter of 2021, when compared to the second quarter of 2020\n\n\nSaaS active users and usage frequency reached new all-time high as daily and weekly active users increased 27% year-over-year\n\n\nThr...