Business
Thryv Reports Strong Fourth Quarter and Fiscal Year 2021 Results, Exceeding All Guidance Targets
– Fourth Quarter Total SaaS Revenue Grows 36% Year-Over-Year – Full Year 2021 Total SaaS Revenue Grows 32% Year-Over-Year DALLAS--(BUSINESS WIRE)-- Thryv
About this update from Thryv Holdings, Inc.
[{"type":"text","content":"\n– Fourth Quarter Total SaaS Revenue Grows 36% Year-Over-Year\n– Full Year 2021 Total SaaS Revenue Grows 32% Year-Over-Year\n\n DALLAS--(BUSINESS WIRE)--\nThryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the end-to-end client experience platform for growing small businesses, announced audited financial results for the fourth quarter and fiscal year 2021. The Company has also provided guidance for first quarter and full year 2022.\n\n“We are pleased to report a strong finish to 2021, with Q4 representing our largest SaaS revenue quarter on record,” said Joe Walsh, Chairman and CEO. “We beat all of our 2021 guidance targets. These outstanding results confirm that Thryv has become the leader in moving small to medium-sized businesses to cloud software to enable them to modernize and run their businesses.”\n\nThe Company also announced that it has acquired Vivial Media Holdings, Inc. (“Vivial”), a regional provider of small business digital and print marketing services, for $21 million. On a post synergy basis, the purchase price of Vivial corresponds to an enterprise value / adjusted EBITDA multiple of approximately 2x, consistent with Thryv’s disciplined acquisition strategy and prior marketing services acquisitions.\n\n“Vivial has a strong presence in key US markets including Hawaii, Alaska, Cincinnati, Ohio, Rochester, New York, and Lincoln, Nebraska,” said Walsh. “These fit synergistically into Thryv’s national platform. We are confident that many of Vivial’s 25,000 digital customers will adopt Thryv’s CRM software.”\n\n“With the highly-profitable Marketing Services business providing low-cost leads into the SaaS business, the Company will continue to generate strong EBITDA margins from a consolidated standpoint,\" said Paul Rouse, Chief Financial Officer. \"We have a strong track record of optimizing profits and we believe this trajectory will continue throughout 2022.”\n\n“Finally, we look forward to sharing more of the long-term vision at our upcoming in-person investor and analyst day in New York City on April 5th,” concluded Walsh.\n\nFourth Quarter 2021 Financial Highlights:\n\n\nUS SaaS revenue was $47.1 million, a 35.0% increase year-over-year\n\n\nUS Marketing Services revenue was $153.6 million\n\n\nThryv International revenue was $43.8 million\n\n\nConsolidated total revenue was $244.4 million, a decre...