Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q3 2024 Earnings Presentation
32 slides from Thryv's earnings presentation, Nov 7, 2024
Slide 1: 3rd Quarter 2024
rd 3 QUARTER 2024 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
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 the customizable, do-it-all small business software. We'll help you communicate efficiently, run your business, and grow your brand. thryv Job / Roof Repair ite vi Email Remind me in, Payments Received ALL PAYMENTS Bs $39,299,.5 USD PAID é $38,578.5 USD CANCELLED AND REFUNDED ® $721 USD June 2
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 u ” Acquired Free” SaaS a + Business & Professional Services Customers* Customers + Legal + Shopping & Ecommerce + Insurance +
Slide 7: Free to Use
FREE TO USE thryv = _ _ yv thryv Sen’ Bae thy Mattne e Small businesses Centralize all Runyour — run better on Thryv. communications. business. business. e Centralized Customer @ Marketing Inbox Database Campaigns tg From inbox to invoices to inbound marketing, Thryv is the do-it-all platform Te ica
Slide 8: Thryv Business Center and Command Center
~ — thryV center wes | COTY Center. 9 thrvv Command ryVv Center.
Slide 9: Product Innovation: Evolving & Expanding
PRODUCT INNOVATION thryv Evolving & Expanding thryv thryv Business Command Center Center. Lifetime Value Customer 2021 2022 2023 2024 2O2s thryv Pay. thryv App Market. Hub» thryv Everything an SMB needs to run their day-to-day business and deliver an exceptional customer experience.
Slide 10: Leveraging AI to Power Customer Solutions
10 THRYV SAAS PLATFORM Leveraging Al to Power Customer Solutions ‘Stay in The Loop On Facebook YouRLoso ~~ Stay In The Loop Pow sve, Marketing thryv Center. Campaign Creator Marketing Center automatically creates your Ad Campaigns for you. thrvv Business ryV Center. Email Campaign Pro Editor Easily
Slide 11: Additional Products: Marketing Services
yellowpe lat are consumers saying tbout your business online? 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 b
Slide 12: Thryv Closed Keap Acquisition on October 31, 2024
Thryv Closed Keap Acquisition on October 31, 2024 Strategic Expected Significant Logic Shareholder Value Creation Product suite complementary with Ultimate Enhanced business model profile package enabling upsell / cross-sell opportunities at low CAC Immediate gross margin uplift of SaaS business Div
Slide 13: Enhancing Offerings and Accelerating Growth with Keap
13 KEAP VALUE Enhancing Offerings and Accelerating Growth with Keap Keap is a leading provider of solutions for customer relationship management, marketing automation, and sales optimization, primarily serving SMBs in North America, Australia, and Europe. The majority of Keap’s revenue is driven by
Slide 14: Accolades
14 Accolades thryv BEST SMB CAM SOLUTION Named on Newsweek's list of Top 100 Global Most Workplaces for 2024 Martech Breakthrough Award 2023 cs GB Lc) 1G) Momentum ‘Small Business Highest User Highest User Most Leader Leader Leader Adoption Adoption Implementable WINTER Siva Business WINTER WINTER W
Slide 15: Financial Review Q3 2024
Financial Review Q3 2024 thryv
Slide 16: 3rd Quarter 2024 Highlights
3rd Quarter 2024 Highlights 3rd Quarter $ in thousands 2024 2023 YoY% Total SaaS Revenue $87,055 $67,360 29.2% Adjusted EBITDA 10,314 (504) Adjusted EBITDA Margin 11.8% (0.7)% Total Marketing Services Revenue $92,797 $116,462 (20.3)% Adjusted EBITDA 9,309 7,835 Adjusted EBITDA Margin 10.0% 6.7% Cons
Slide 17: SaaS Highlights
Revenue Growth Growing Subscribers FINANCIAL REVIEW SaaS Highlights +29% +45% YoY YoY ARPU Adjusted Gross Margin $307 72.2% +560 bps YoY Seasoned Net Dollar ThryvPay TPV Retention (NDR) 101% $82M +900 bps YoY +30% YoY 17
Slide 18: SaaS Highlights
FINANCIAL REVIEW SaaS Highlights Revenue Adjusted EBITDA Adjusted Gross Margin 72.2% $87.1 $10.3 $67.4 66.6% $(0.5) Q3-23 Q3-24 Q3-23 Q3-24 Q3-23 Q3-24 ($ in millions) 18
Slide 19: Customer demand for paid centers
(1) (1) Denotes customer demand for paid centers. 19
Slide 20: SaaS ARPU
20 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0 FINANCIAL REVIEW SaaS ARPU thryv Or e @ or © Or = @; C ) e ® t ) oe ee ——_ ry @ Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 =-e-TotalSaaS -e- Accelerated Migration -«-Local Sales Generated
Slide 21: Multi-center Platform Improving Profitability
FINANCIAL REVIEW Multi-center Platform Improving Profitability Released Q3 2023* Released on Restricted Sale Q4 2022 Released For General Availability Released Q2 2019 72.2% 69.7% 68.4% 69.7% 65.1% 66.6% 63.4% 64.5% 63.5% 62.8% 64.2% $87.1 $77.8 $74.0 $74.3 $67.4 $62.5 $62.9 $59.3 $59.9 $56.6 $54.2
Slide 22: Total Company Billings
FINANCIAL REVIEW Total Company Billings Q3-24 Q3-23 BILLINGS (YoY%) SaaS Billings (1) $86.2 $65.1 (millions) YoY % 32% 13% 32% 21% 20% 24% 25% 24% 20% 22% 22% 24% 13% (14)% (12)% (13)% (9)% (12)% (14)% (12)% (12)% (12)% (14)% (16)% Q3-24 Q3-23 (19)% (17)% (20)% (17)% (19)% (22)% (19)% (23)% (24)% Ma
Slide 23: Q4 and FY 2024 Outlook
Q4 and FY 2024 Outlook Company Raises FY 2024 SaaS EBITDA Guidance (in millions, USD) Q4 2024 FY 2024 MANAGEMENT COMMENTARY TOTAL SAAS REVENUE $90.0 to $92.0 $329.5 to $331.5 • Company expects FY-24 growth of 25% to 26% • Q4-24 SaaS EBITDA impacted by ~$2-3 million as Adjusted EBITDA $9.5 to $10.5 $
Slide 24: Keap Outlook
Keap Outlook Keap Acquired on October 31, 2024 (in millions, USD) Q4 2024 MANAGEMENT COMMENTARY KEAP • Q4 guidance reflects only November and December REVENUE $11.0 to $12.0 revenues, as the acquisition closed on October 31, 2024. • Keap EBITDA is de minimis as we initiate the plan to Adjusted EBITD
Slide 25: Appendix
thryv Appendix
Slide 26: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation YTD (in thousands) Q1-23 Q2-23 Q3-23 Q4-23 FY23 Q1-24 Q2-24 Q3-24 Q3-24 Net Income (Loss) $ 9,314 $ 15,978 $ (27,046) $ (257,541) $ (259,295) $ 8,424 $ 5,548 $ (96,071) $ (82,099) Interest expense 16,488 16,292 15,131 13,817 61,728 13,359 12,175 11,514 37,0
Slide 27: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross profit Three Months Ended September 30, 2024 (in thousands) Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 51,374 $ 60,607 $ 111,981 Plus: Depreciation and amortiz
Slide 28: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross profit Nine Months Ended September 30, 2024 (in thousands) Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 252,219 $ 161,991 $ 414,210 Plus: Depreciation and amorti
Slide 29: Supplemental Financial Information
APPENDIX Supplemental Financial Information Three Months Ended September 30, 2024 (in thousands) Marketing Services SaaS Total Revenue $ 92,797 $ 87,055 $ 179,852 Adjusted EBITDA 9,309 10,314 19,623 Adjusted EBITDA Margin 10.0 % 11.8 % 10.9 % Three Months Ended September 30, 2023 (in thousands) Mark
Slide 30: Supplemental Financial Information
APPENDIX Supplemental Financial Information Nine Months Ended September 30, 2024 (in thousands) Marketing Services SaaS Total Revenue $ 398,389 $ 239,171 $ 637,560 Adjusted EBITDA 109,137 23,914 133,051 Adjusted EBITDA Margin 27.4 % 10.0 % 20.9 % Nine Months Ended September 30, 2023 (in thousands) M
Slide 31: Domestic Print Publishing Schedule
31 Domestic Print Publishing Schedule PUBLICATIONS 600 400 - @ 200 QU-22 Q2-22 Q3-22 Q422 QU-23 Q2-23 Q3-23 Q423 Q124 Q2z24 Q3-24 Q424E 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 cy
Slide 32: Definitions
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. 1 •