Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q1 2021 Earnings Presentation
16 slides from Thryv's earnings presentation, May 13, 2021
Slide 1: Investor Supplement First Quarter 2021
Investor Supplement First Quarter 2021
Slide 2: Safe Harbor
Safe Harbor 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 strategies
Slide 3: 1st Quarter SaaS Highlights
1st Quarter SaaS Highlights Double-Digit Customer Value Monthly Churn Growth Increasing 2.5% (-90bps YoY) Revenue +17% YoY ARPU +26% YoY Ending Clients 44.5k Effective Onboarding Enhancements Driving Increased Recognition CRM & Industry Engagement G2 Leader in Verticalization 14 categories Record Hi
Slide 4: 1st Quarter Financial Highlights
1st Quarter Financial Highlights $ in Thousands Q1-21 Q1-20 YoY Saas Revenue $37,251 $31,848 17% Key Highlights: EBITDA 316 2,701 EBITDA % 0.8% 8.5% • Q1 SaaS revenue accelerated to +17% YoY. Acceleration fueled by demand for SMBs to Marketing Services modernize and transition to the cloud. Revenue
Slide 5: SaaS 1st Quarter Financial Highlights
SaaS 1st Quarter Financial Highlights 38.0 19% SaaS seeing attractive returns on 37.0 17% growth investments related to sales and onboarding 36.0 14% 35.0 34.0 9% 8% Proof that changes brought about from 33.0 pandemic are durable as SMB demand 32.0 4% for cloud tools continue to accelerate 31.0 2% 3
Slide 6: Marketing Services 1st Quarter Financial Highlights
Marketing Services 1st Quarter Financial Highlights 350 65% 300 55% 250 45% 43% 41% 200 38% 35% 32% 33% 150 25% 100 15% 50 0 5% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Revenue EBITDA Margin % • Gradual structural change in market driving • Over 7 billion references to directories representing predictable decl
Slide 7: Historical Segment Billings
Historical Segment Billings Marketing Services Billings 500 0% (in millions) 400 -5% -10% 300 -15% 200 -20% 100 -25% 0 -30% Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Billings YoY % • Marketing Services billings rate of decline has $ in Thousands stayed very consis
Slide 8: SaaS Metrics
SaaS Metrics Monthly Active Users (k) # Clients (k) YoY Change 31.3 45.4 44.5 Sequential Growth 26.0 (2%) (17%) Q1-20 Q1-21 Q1-20 Q1-21 # Clients (k) YoY Change % ARPU Net Dollar Retention $304 89% 73% $240 Q1-20 Q1-21 Q1-20 Q1-21 8 Note: Results U.S. only and do not include contribution from Sensis
Slide 9: Engagement
Engagement MAUs by Frequency (k) Highlights: 31.3 • Monthly active users increase 20% YoY in 28.4 the 1st quarter 26.0 26.6 27.0 • Increase in user frequency a strong demonstration of the improved onboarding process and breadth of the Thryv platform • Ease of use continues to drive overall adoption
Slide 10: G2 Spring Report 2021 Leadership Awards
G2 Spring Report 2021 Leadership Awards Thryv Received Most Honors In A Single Quarter 10
Slide 11: ThyrvPay Mobile App
ThyrvPay Mobile App 11
Slide 12: ThryvPay Update
ThryvPay Update Avg. Volume Per Day $175,000 $150,000 $125,000 $100,000 $75,000 $50,000 Launch $25,000 $0 Nov Dec Jan Feb Mar Apr Continued Strength Requesting payments Minimizes late or in Adoption with Thryv digital invoices missed payments Avg Transaction Size $15M TPV reduces friction Thru sched
Slide 13: FY 2021 Outlook
FY 2021 Outlook FY 2021 Management Commentary $151 to $153 • Raising previous guidance of $140 to $145 million U.S. SaaS Revenue million • Expect high-teens growth in Q2 • Maintaining guidance due to visibility in sales canvass process U.S. Marketing $740 to $760 • Q2: $183 to $191 million Services
Slide 14: 2021 Priority Progress
Engagement • Continue to educate clients on features and how to leverage capabilities within platform • Expand app marketplace and drive time in-app Drive Cloud Adoption In SMB Market • Aggressively sell Thryv via new channels as business environment recovers • Convert “unclouded” • Efficiently and
Slide 15: Appendix
Appendix 15
Slide 16: Appendix: Non-GAAP Financial Reconciliation
Appendix: Non-GAAP Financial Reconciliation $ in Thousands Q1-21 Q1-20 Net Income (Loss) $36,506 $28,102 Interest Expense 15,672 19,930 Provision (Benefit) for Income Taxes 11,809 13,409 Dep. & Amort. 19,718 37,823 Loss on Extinguishment of Debt 299 - Restructuring and integration costs 9,234 9,845