Business
Thryv® Reports Third Quarter 2020 Financial Results, Provides Outlook for Remainder of Year
DALLAS, Nov. 12, 2020 /PRNewswire/ -- Thryv Holdings, Inc. (NASDAQ: THRY), the provider of Thryv® software, the end-to-end client experience platform for
About this update from Thryv Holdings, Inc.
[{"type":"text","content":"DALLAS, Nov. 12, 2020 /PRNewswire/ -- Thryv Holdings, Inc. (NASDAQ: THRY), the provider of Thryv® software, the end-to-end client experience platform for small businesses, today announced financial results for third quarter and provided forward-looking guidance for the remainder of 2020.\nKey highlights:\nTotal revenue was $240.3 million for the quarter, a decrease of 25% from the third quarter of 2019 Revenue from the SaaS business was $31.8 million for the quarter, an increase of 2% from the third quarter of 2019 Marketing Services revenue was $208.5 million for the quarter, a decrease of 28% from the third quarter of 2019 Net loss was $0.1 million, or $0.00 per share, basic and diluted, for the quarter, compared to net loss of $0.3 million, or ($0.01) per share, basic and diluted, in the third quarter of 2019 Loss before income taxes was $24.4 million for the quarter, compared to income before income taxes of $1.1 million in the third quarter of 2019 Adjusted EBITDA was $69.3 million for the quarter, representing a 28.8% Adjusted EBITDA margin; compared to $98.3 million, or a 30.8% Adjusted EBITDA margin, in the third quarter of 2019 Net Leverage of 1.4x for the quarter, as defined by the Thryv, Inc. Credit Agreement\"This was a milestone quarter for Thryv as we re-entered the market as a public entity and saw our SaaS business return to growth,\" said Thryv CEO Joe Walsh. \"While the COVID-19 pandemic continued to hurt local businesses across America, the Thryv software platform helped small and medium-sized businesses survive by enabling them to do business virtually.\" \n\"We continue to see a more engaged set of clients and higher usage of our software and expect that positive trend to continue into 2021. The direct listing on the Nasdaq underscored our belief in the long-term growth prospects of this business and the strategic steps we are taking to drive consistent value to shareholders.\"\nThryv serves approximately 350,000 small-to medium-sized businesses (\"SMB\") clients through two segments: SaaS and Marketing Services. Our SaaS offerings include Thryv, our flagship SMB end-to-end customer experience platform, and Thryv Leads, an automated lead generation service that integrates with our Thryv platform. Our Marketing Services segment provides both print and digital solutions, including our owned and operated Print ...