Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — FY2023 Earnings Presentation
28 slides from Thryv's earnings presentation, Feb 22, 2024
Slide 1: 4th Quarter & Full Year 2023
4TH QUARTER & FULL YEAR 2023 Exhibit 99.2
Slide 2: Safe Harbor
Safe Harbor thryv This Presentation may include certain forward-looking statements, including, without limitation, statements concerning the conditions of our industry and our operations, performance, and financial condition, including, in particular, statements relating to our business, growth stra
Slide 3: Key Investment Highlights
thryv Key Investment Highlights Best-in-class SaaS Platform Powerful All-in-one Software Platform Tailored To The Growing Needs Of The SMB Massive Market Opportunity Established And Resilient Service-based SMBs With 2-50 Employees. Global TAM > 8M Businesses ($40B Annual Spend) Mega-trend Thryv To B
Slide 4: Small Business Is Big Business
thryv Small Business Is Big Business
Slide 5: Thryv the customizable, do-it-all small business software
thryv Thryv the customizable, do-it-all small =o business software. Job / Roof Repair $39,299.5 USD We'll help you communicate $38,578.5 USD efficiently, run your business, f UNDE © $721 USD and grow your brand. 021 Rose Wakley 560.00 USD Payment for invoice #0000036 &S PAID ohn smith Grant Inwood $
Slide 6: Why Thryv Will Win
WHY THRYV WILL WIN thryv Differentiated Business Model Driving Long-term Growth & Sustainability Top 10 Saas Clients By Vertical + Construction & Contractors + Home & Garden " ” Free” SaaS Argued + Business & Professional Services Customers* Customers + Legal + Shopping & Ecommerce + Insurance + Hea
Slide 7: Small businesses run better on Thryv
aa es thryv center? thryveenies= — thryv centr Small businesses Centralize all Run your Grow your run better on Th ryv. communications. business. business. Centralized Customer Marketing © inbox 2D Database ® Campaigns thryv From inbox to invoices to inbound marketing, Thryv is the do-it-all platfor
Slide 8: Thryv Centers
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Slide 9: Product Innovation
PRODUCT INNOVATION Evolving & Expanding thryy | thryv ~—sthryv Bi Marketing Command Center Center Center Lifetime Value Customer thryv Everything an SMB needs to run their day-to-day business and deliver an exceptional customer experience. 2021 2022 2023 2024 2025 thryv Pay. thryV App Market Hub» th
Slide 10: Thryv SaaS Platform: Leveraging AI
10 THRYV SAAS PLATFORM Leveraging Al ~ — thryv ceieine Campaign Creator Marketing Center automatically creates your Ad Campaigns for you. v7, Business CAFYV center: Email Campaign Pro Editor Easily create, translate, and perfect compelling content within Thryv's Email Marketing Pro Editor.
Slide 11: Additional Products: Marketing Services
thryv ADDITIONAL PRODUCTS Marketing Services THE REAL YELLOW PAGES The most cost-effective way to target ready-to-buy consumers. Yellow Pages directories can mean big success stories for a business. Whether customers are searching for a business by name or by the products/services they provide, they
Slide 12: Accolades 2023
12 ACCOLADES 2023 Client Industry Recognition thryv 2k AME! MOSTLOVED Vs 2023 Newsweek's list of America’s 100 Most Loved Workplaces for 2023 Martech Breakthrough Award 2023 G G Momentum ‘Seal Binion Highest User Highest User Leader Leader Leader Adoption note 2024 = a 2024 = me 2024 G2 Award Winner
Slide 13: Financial Review Q4 & FY 2023
Financial Review Q4 & FY 2023 thryv
Slide 14: 4th Quarter and Full Year Highlights
14 4th Quarter and Full Year Highlights 4th Quarter Full Year $ in thousands 2023 2022 YoY% 2023 2022 YoY% Total SaaS Revenue $73,970 $59,318 24.7% $263,717 $216,346 21.9% Adjusted EBITDA 6,503 (2,222) 12,025 (13,393) Adjusted EBITDA Margin 8.8% (3.7)% 4.6% (6.2)% Total Marketing Services Revenue $1
Slide 15: Financial Review: SaaS Highlights
15 FINANCIAL REVIEW SaaS Highlights +25% YoY +27% YoY $370 +1% QoQ $60M +54% YoY Revenue Growth Growing Subscribers ARPU ThryvPay TPVSeasoned Net Dollar Retention (NDR) 70% 310 bps QoQ 96% +400 bps QoQ Adjusted Gross Margin
Slide 16: SaaS Highlights
16 SaaS Highlights F I N A N C I A L R E V I E W Revenue $59.3 $74.0 Q4-22 Q4-23 Adjusted EBITDA $(2.2) $6.5 Q4-22 Q4-23 Adjusted Gross Margin 62.8% 69.7% Q4-22 Q4-23 ($ in millions)
Slide 17: SaaS Revenue and Adjusted Gross Profit Margin
17 $30.6 $33.7 $35.9 $37.3 $38.5 $40.7 $44.9 $51.6 $48.2 $52.2 $56.6 $59.3 $59.9 $62.5 $67.4 $74.0 63.4% 64.5% 63.5% 62.8% 64.2% 65.1% 66.6% 69.7% SaaS Adjusted Gross Profit SaaS Revenue SaaS Adj. Gross Profit Margin Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 F I N A N C I A L R E V I E W Relea
Slide 18: Marketing Services Billings
18 (1) Marketing Services Billings excludes Vivial Holdings run-off products and Yellow Holdings Limited (NZ). Q4-23 Q4-22 Marketing Services Billings (millions)(1) $149.2 $192.8 YoY % (23)% (17)% MARKETING SERVICES BILLINGS (YoY%) (23)% (22)% (23)% (21)% (22)% (22)% (21)% (21)% (22)% (21)% (21)% (2
Slide 19: Q1 and FY 2024 Outlook
19 Q1 and FY 2024 Outlook Company Issues Strong SaaS Guidance for FY 2024 (in millions, USD) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 MANAGEMENT COMMENTARY TOTAL MARKETING SERVICES REVENUE $152 to $155 $146 to $149 $99 to $101 $98 to $100 $495 to $505 • Company expects higher print revenue in 1H-24 A
Slide 20: Appendix
thryv Appendix
Slide 21: Segment Results
21 APPENDIX Segment Results Three Months Ended December 31, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 187,755 $ 57,938 $ 32,295 $ 1,380 $ 279,368 Segment Gross Profit 124,413 34,944 18,802 746 178,905 Segment Adjusted EBITDA 59
Slide 22: Net Income to Adjusted EBITDA Reconciliation
22 (in thousands) Q1-22 Q2-22 Q3-22 Q4-22 FY22 Q1-23 Q2-23 Q3-23 Q4-23 FY23 Net Income (Loss) $ 33,511 $ 58,002 $ 13,280 $ (50,445) $ 54,348 $ 9,314 $ 15,978 $ (27,046) $ (257,541) $ (259,295) Interest expense 14,867 14,652 14,570 16,318 60,407 16,488 16,292 15,131 13,817 61,728 Depreciation and amo
Slide 23: Reconciliation of Adjusted Gross Profit to Gross Profit (Quarter)
23 Reconciliation of Adjusted Gross Profit to Gross profit APPENDIX Three Months Ended December 31, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 88,520 $ 47,183 $ 21,232 $ 2,775
Slide 24: Reconciliation of Adjusted Gross Profit to Gross Profit (Year)
24 Reconciliation of Adjusted Gross Profit to Gross profit APPENDIX Year Ended December 31, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 320,327 $ 161,663 $ 88,730 $ 7,527 $ 578,
Slide 25: Supplemental Financial Information
25 APPENDIX Supplemental Financial Information The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS
Slide 26: Supplemental Financial Information (Full Year)
26 APPENDIX The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS Adjusted EBITDA and Adjusted EBITD
Slide 27: Domestic Print Publishing Schedule
Pa Domestic Print Publishing Schedule PUBLICATIONS 600 400 200 Q1-22 Q2-22 Q322 Q422 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24E Q2-24E Q3-24E Q4-24E Q1-25E Q2-25E Q3-25E Q4-25E Per ASC 606 accounting policy, print revenue is recognized upfront at the time of shipment. In 2022, the company extended publication c
Slide 28: Definitions
28 APPENDIX Definitions Definitions of key terms used in this presentation are as follows: • Total SaaS revenue consists of SaaS revenue recognized by our domestic and foreign operations. • Total Marketing Services revenue consists of SaaS revenue recognized by our domestic and foreign operations. •