Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q1 2024 Earnings Presentation
25 slides from Thryv's earnings presentation, May 2, 2024
Slide 1: 1st Quarter 2024
1st 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
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 benef
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: Evolving & Expanding
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 Q1 2024
Financial Review Q1 2024 thryv
Slide 14: 1st Quarter 2024 Highlights
14 1st Quarter 2024 Highlights 1st Quarter $ in thousands 2024 2023 YoY% Total SaaS Revenue $74,322 $59,929 24.0% Adjusted EBITDA 3,435 (204) Adjusted EBITDA Margin 4.6% (0.3)% Total Marketing Services Revenue $159,302 $185,626 (14.2)% Adjusted EBITDA 50,679 58,673 Adjusted EBITDA Margin 31.8% 31.6%
Slide 15: Financial Review: SaaS Highlights
15 FINANCIAL REVIEW SaaS Highlights +24% YoY +30% YoY $369 Flat QoQ $62M +40% YoY Revenue Growth Growing Subscribers ARPU ThryvPay TPVSeasoned Net Dollar Retention (NDR) 68% 420 bps YoY 94% +300 bps YoY 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 $59.9 $74.3 Q1-23 Q1-24 Adjusted EBITDA $(0.2) $3.4 Q1-23 Q1-24 Adjusted Gross Margin 64.2% 68.4% Q1-23 Q1-24 ($ in millions)
Slide 17: SaaS revenue and adjusted gross margin trend
17 $30.6 $33.7 $35.9 $37.3 $38.5 $40.7 $44.9 $51.6 $50.9$48.2 $52.2 $56.6 $59.3 $59.9 $62.5 $67.4 $74.0 $74.3 63.4% 64.5% 63.5% 62.8% 64.2% 65.1% 66.6% 69.7% 68.4% 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 Q1 24 F I N A N C
Slide 18: Marketing Services Billings
18 (1) Marketing Services Billings excludes Vivial Holdings run-off products and Yellow Holdings Limited (NZ). Q1-24 Q1-23 Marketing Services Billings (millions)(1) $136.8 $179.3 YoY % (24)% (19)% MARKETING SERVICES BILLINGS (YoY%) (23)% (22)% (23)% (21)% (22)% (22)% (21)% (21)% (22)% (21)% (21)% (2
Slide 19: Q2 and FY 2024 Outlook
19 Q2 and FY 2024 Outlook Company Raises SaaS Guidance FY 2024 (in millions, USD) Q2 2024 Q3 2024 Q4 2024 FY 2024 MANAGEMENT COMMENTARY TOTAL MARKETING SERVICES REVENUE $141 to $144 $97 to $99 $90 to $92 $487 to $494 • Company expects higher print revenue in 1H-24 Adjusted EBITDA $130 to $133 • Comp
Slide 20: Appendix
thryv Appendix
Slide 21: Non-GAAP Financial Reconciliation
21 (in thousands) Q1-23 Q2-23 Q3-23 Q4-23 FY23 Q1-24 Net Income (Loss) $ 9,314 $ 15,978 $ (27,046) $ (257,541) $ (259,295) $ 8,424 Interest expense 16,488 16,292 15,131 13,817 61,728 13,359 Depreciation and amortization expense 15,431 15,667 15,842 16,311 63,251 14,553 Stock-based compensation expen
Slide 22: Reconciliation of Adjusted Gross Profit to Gross Profit
22 Reconciliation of Adjusted Gross Profit to Gross profit APPENDIX Three Months Ended March 31, 2024 (in thousands) Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 104,546 $ 49,095 $ 153,641 Plus: Depreciation and amortization expense 4,072 1,704 5,776 St
Slide 23: Supplemental Financial Information
23 APPENDIX Supplemental Financial Information The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses and (ii) SaaS businesses. SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Marketing
Slide 24: Domestic Print Publishing Schedule
24 Domestic Print Publishing Schedule PUBLICATIONS 600 400 5 ae “ene 200 QU-22 Q2-22 QB-22 Q42Z QU2I Q223_QS2I QHZ QUIZ QV2AE Q32E Q4-2E QI-2SE QVISE 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 25: Definitions
25 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. •