Business
Thryv® Reports Preliminary Fourth Quarter and Fiscal Year 2020 Financial Results, Provides Outlook for Fiscal Year 2021
DALLAS--(BUSINESS WIRE)-- Thryv Holdings, Inc. (NASDAQ:THRY), the provider of Thryv® software, the end-to-end client experience platform for growing small
About this update from Thryv Holdings, Inc.
[{"type":"text","content":" DALLAS--(BUSINESS WIRE)--\nThryv Holdings, Inc. (NASDAQ:THRY), the provider of Thryv® software, the end-to-end client experience platform for growing small businesses, announced preliminary, unaudited results for the fourth quarter and fiscal year 2020, exceeding previously issued guidance for the same period.\n\n“We are pleased with our performance in what was a challenging year for so many companies. Thryv’s SaaS business is growing, and the numbers reflect that,” said Joe Walsh, CEO of Thryv. “It is energizing to start this new year in a position of strength, and as we move through 2021, we will look to capitalize on the momentum we are seeing. As we look forward to 2021 and future years, we believe we are well positioned as a category leader in SaaS.”\n\nPreliminary Fourth Quarter 2020 Financial Highlights:\n\n\nSaaS revenue was $34.9 million, an 8% increase year-over-year. Our guidance was $33 million\n\n\nMarketing Services revenue was $212.1 million. Our guidance range was $190-$200 million\n\n\nTotal revenue was $246.9 million. Our guidance range was $223-$233 million\n\n\nNet income was $109.8 million\n\n\nAdjusted EBITDA was $71.6 million. Our guidance range was $58-$63 million\n\n\nPreliminary Fiscal Year 2020 Financial Highlights:\n\n\nSaaS revenue was $129.8 million. Our guidance was $128 million\n\n\nMarketing Services revenue was $979.6 million. Our guidance range was $955-$965 million\n\n\nTotal revenue was $1,109.4 million. Our guidance range was $1,083-$1,093 million\n\n\nNet income was $149.2 million\n\n\nAdjusted EBITDA was $371.8 million. Our guidance range was $358-$363 million\n\n\nAdditional Preliminary Business Highlights:\n\n\nSaaS ARPU increased to $293 in the fourth quarter, up from $260 in the third quarter of 2020\n\n\nTotal SaaS clients ending the fourth quarter of 2020 was 44.0 thousand, flat when compared to the third quarter of 2020\n\n\nSaaS monthly churn improved to 2.4% in the fourth quarter, down from 2.7% in the third quarter of 2020\n\n\nLeverage Ratio was 1.3x in the fourth quarter, as defined in the Thryv, Inc. credit agreement\n\n\nTotal Debt repayment was $186.1 million for fiscal year 2020. Term loan and ABL ending balances for the fourth quarter of 2020 were $449.6 million and $79.2 million, respectively\n\n\nWe have provided preliminary unaudited estimated results. These unaudited ...