Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Investor Day (April 2022)
115 slides from Thryv's investor day presentation, Apr 5, 2022
Slide 1: Analyst & Investor Day April 2022
©2022 Thryv, Inc. All Rights Reserved. ANALYST & INVESTOR DAY APRIL 2022 – NASDAQ MARKETSITE – NYC
Slide 2: The Team
JOE WALSH CHAIRMAN / CEO RYAN CANTOR CHIEF PRODUCT OFFICER KJ CHRISTOPHER VP – TREASURY, TAX & CORPORATE DEVELOPMENT GRANT FREEMAN CHIEF CUSTOMER OFFICER CAMERON LESSARD DIRECTOR - IR & CAPITAL MARKETS PAUL ROUSE CHIEF FINANCIAL OFFICER THE TEAM
Slide 3: Forward-looking statements
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, product de
Slide 4: Analyst & Investor Day Agenda
WELCOME – 9:00 AM Cameron Lessard, Director of Investor Relations & Capital Markets DECADE OF SMB SAAS – 9:05 AM Joe Walsh, Chairman and CEO PRODUCT INNOVATION – 9:45 AM Ryan Cantor, Chief Product Officer REIMAGINING THE CUSTOMER EXPERIENCE – 10:10 AM Grant Freeman, Chief Customer Officer FINANCIAL
Slide 5: Q&A Housekeeping
Q&A Short Q&A (5 min) between speakers 20 min Q&A with all presenters at conclusion of presentation. SUBMIT QUESTIONS Via Investor Relations at InvestorDay@thryv.com NON-GAAP Reconciliations for financials provided and posted on investor.thryv.com ANALYSIS & INVESTOR DAY HOUSEKEEPING CAMERON LESSARD
Slide 6: Welcome
WELCOME JOE WALSH
Slide 7: 2020s: The Decade of SMB SaaS
2020s: The Decade of SMB SaaS Marketing Services – Our Predictable Cash Generator Why Thryv Will Win Thryv’s “Unfair” Sales Advantage (It’s Growing) Who We Serve – Our Ideal Client The Future – Our Trajectory
Slide 8: We are a team fiercely devoted to enabling local, independent businesses
We are a team fiercely devoted to enabling local, independent businesses.
Slide 9: We believe in free enterprise and the American dream
We believe in free enterprise, a diverse dynamic economy and the American dream of owning a successful business.
Slide 10: We believe consumers deserve choices beyond chains
We believe consumers deserve choices beyond chains and global ecommerce.
Slide 11: We believe devotion to supporting independent business owners is a noble calling
We believe devotion to supporting independent business owners is an urgent, worthy and noble calling.
Slide 12: 2020s: The Decade of SMB SaaS
HARDIN PAINTING COMPANY STAN HARDIN PATH TO 2032 2020S: THE DECADE OF SMB SAAS
Slide 13: Decade of Enterprise SaaS
PATH TO 2032 DECADE OF ENTERPRISE SAAS 2020s 2010s
Slide 14: Decade of SMB SaaS
PATH TO 2032 DECADE OF SMB SAAS 2020s 2010s
Slide 15: Why is this mega-trend happening now?
Consumers Are Trained SMBs Are Ready Tools Are Better PATH TO 2032 WHY IS THIS MEGA-TREND HAPPENING NOW?
Slide 16: SMB SaaS Adoption
PATH TO 2032 SMB SAAS ADOPTION 77% 64% ONE PROVIDER 64% want to buy from one provider. MULTIPLE SAAS APPS 77% of of SMBs need a platform with all tools in one place. Decision Analyst, Q1 2022, SMB SaaS Adoption Study.
Slide 17: Marketing Services: Our Predictable Cash Generator
PATH TO 2032 MARKETING SERVICES Our Predictable Cash Generator
Slide 18: Marketing Services 2022E revenue
$880M ESTIMATED REVENUE 35% ESTIMATED ADJUSTED EBITDA MARGIN 2022E REVENUE MARKETING SERVICES SHIFT FROM PRINT TO DIGITAL
Slide 19: Marketing Services shift from print to digital 2032E
MARKETING SERVICES SHIFT FROM PRINT TO DIGITAL 2032E REVENUE $100M ESTIMATED REVENUE 35+% ESTIMATED ADJUSTED EBITDA MARGIN
Slide 20: Yellow Pages & IYP annual U.S. references
TOTAL 2021REFERENCES 7.4B MARKETING SERVICES YELLOW PAGES & IYP ANNUAL U.S. REFERENCES 2001-2021 (In Billions) -4% CAGR DIGITAL 2021REFERENCES 4.3B PRINT 2021REFERENCES 3.1B Source: Localogy, February 2022.
Slide 21: Why Thryv Will Win
UNICORN AIR & HEAT MIKE TAMBS PATH TO 2032 WHY THRYV WILL WIN
Slide 22: Service as a differentiator
WHY THRYV WILL WIN SERVICE AS A DIFFERENTIATOR
Slide 23: Key benefits to SMB
WHY THRYV WILL WIN KEY BENEFITS TO SMB Drives Growth Saves Time/Get Organized Freedom/Mobility
Slide 24: Win, keep & grow high quality business
WHY THRYV WILL WIN WIN, KEEP & GROW HIGH QUALITY BUSINESS EASIER FOR CONSUMER BETTER SEO INTEROPERABILITY OFFICE IN YOUR POCKET BETTER GMB RANKINGS (SEO) REPEAT BUSINESS MORE REFERRALS SEAMLESS SOLUTION
Slide 25: Interoperability
WHY THRYV WILL WIN INTEROPERABILITY
Slide 26: We make the consumer experience better
LIFETIME VALUE CUSTOMER WHY THRYV WILL WIN WE MAKE THE CONSUMER EXPERIENCE BETTER FINDS SMB Via Website/GMB MAKES APPOINTMENT Via Thryv Calendar GETS REMINDER Via Thryv Scheduler RECEIVES DOCUMENTS/ ESTIMATES/INVOICES Via Thryv Document Sharing MAKES PAYMENT Via ThryvPay. Credit Card Stored For Futu
Slide 27: Evolving & expanding
2021 2022 2023 2024 2025 WHY THRYV WILL WIN EVOLVING & EXPANDING
Slide 28: Development of multiple centers
WHY THRYV WILL WIN DEVELOPMENT OF MULTIPLE CENTERS EASIER TO USE/COMPARTMENTALIZE COST EFFECTIVE GREAT OPPORTUNITY FOR NDR EXPANSION
Slide 29: Thryv's Unfair Sales Advantage
PATH TO 2032 THRYV’S “UNFAIR” SALES ADVANTAGE (It’s Growing)
Slide 30: Unfair sales advantage: $1.5B cash, 400K clients
$1.5BGENERATED CASH 400KCLIENTS UNFAIR SALES ADVANTAGE ZOOs
Slide 31: Expanding & maturing sales channels
INBOUND PARTNER FRANCHISE UNFAIR SALES ADVANTAGE EXPANDING & MATURING SALES CHANNELS NEW ACQUISITION CHANNELS LOCAL CHANNELS INSIDE OUTSIDE Large base of existing marketing services customers for prospecting (Zoos). TEAM SELLING
Slide 32: Product led growth and sales driven growth
UNFAIR SALES ADVANTAGE GROWTH PRODUCT LED GROWTH SALES DRIVEN GROWTH
Slide 33: Product led growth
PRODUCT LED GROWTH UNFAIR SALES ADVANTAGE GROWTH SALES DRIVEN GROWTH
Slide 34: Client adored - industry recognized
UNFAIR SALES ADVANTAGE CLIENT ADORED - INDUSTRY RECOGNIZED
Slide 35: Who We Serve: Our Ideal Client
THE BEAUTY MARK MEDICAL SPA CARA VAIRO PATH TO 2032 WHO WE SERVE Our Ideal Client
Slide 36: Core target customers
WHO WE SERVE CORE TARGET CUSTOMERS 2-50 Employees Service-based Businesses Established Businesses ~$500K In Revenue
Slide 37: International growth opportunity
INTERNATIONAL GROWTH OPPORTUNITY
Slide 38: 4M SMBs in the U.S. Thryv TAM
4M SMBs IN THE U.S. WE CAN POTENTIALLY SERVE. TOTAL SMBs THRYV TAM Each dot represents 1M SMBs Source: SBA.gov, US. Census Bureau and company estimation based on Ideal Client Profile (ICP).
Slide 39: 8M SMBs worldwide Thryv TAM
8M SMBs WORLDWIDE WE CAN POTENTIALLY SERVE. TOTAL SMBs THRYV TAM Each dot represents 1M SMBs Source: SBA.gov, U.S. Census Bureau, EU Nations: European Commission, United Kingdom: House of Commons, Canada: Innovation, Science and Economic Development Canada, and company estimation based on Ideal Clie
Slide 40: The Future: Our Trajectory
PATH TO 2032 THE FUTUREOur Trajectory KC CREDIT GURU ASHLEY DEKE
Slide 41: SaaS revenue opportunity
THE FUTURE TRAJECTORY SAAS REVENUES Revenue Opportunity 2022E 2027* 2032* $207M $1B $4B *Management targets. Note: Midpoint of 2022E SaaS revenue guidance range (March 10, 2022).
Slide 42: 5 year SaaS targets
150K SUBSCRIBERS $1B REVENUE 20% ADJUSTED EBITDA MARGIN 75% SAAS REVENUE OF CONSOLIDATED REVENUE 5 YEAR SAAS TARGETS 75% GROSSMARGIN 100% NET DOLLAR RETENTION Go-to-Market Expansion Product Innovation Macro Trend SMBs Moving To Cloud CATALYSTS
Slide 43: 10 year SaaS targets
500K SUBSCRIBERS $4B REVENUE >20% ADJUSTED EBITDA MARGIN 10 YEAR SAAS TARGETS Go-to-Market Expansion Product Innovation Macro Trend SMBs Moving To Cloud CATALYSTS >95% SAAS REVENUE OF CONSOLIDATED REVENUE >75% GROSSMARGIN >100% NET DOLLAR RETENTION
Slide 44: How do we get to Thryv 2032
Engagement Net Revenue Retention Product Led Growth Subscriber Growth & Referrals Scaled ARPU THE FUTURE HOW DO WE GET TO THRYV 2032 By maintaining consistent execution on our core drivers...
Slide 45: Product Innovation
PRODUCT INNOVATION RYAN CANTOR ©2022 Thryv, Inc. All Rights Reserved.
Slide 46: Today's small business
GREEN TECH CLEANING DERRICK GREEN PRODUCT INNOVATION TODAY’S SMALL BUSINESS
Slide 47: Today's small business tools
WEB CHAT FACEBOOK PAGE DOCUMENTS/SIGNATURES SPREADSHEET EMAIL PAYMENTS PRODUCT INNOVATION TODAY’S SMALL BUSINESS ACCOUNTING EMAIL MARKETING
Slide 48: Reducing friction
We continue to focus our innovation on meeting SMBs where they are. Empowering SMBs to adopt a scalable platform, without the disruption. PRODUCT INNOVATION REDUCING FRICTION
Slide 49: Reducing friction: robust end-to-end platform
Slowly reel them in to a robust end-to-end platform built for growing small businesses. PRODUCT INNOVATION REDUCING FRICTION
Slide 50: Reducing friction: more
+ MORE PRODUCT INNOVATION REDUCING FRICTION
Slide 51: SMB hierarchy of needs
PRODUCT INNOVATION SMB HIERARCHY OF NEEDS SELF-ACTUALIZATION GROWTH ORDER COMMUNICATION FINANCIAL
Slide 52: Payment growth
Q3 2019 Q1 2022E PRODUCT INNOVATION PAYMENT GROWTH Over $1 Billion In SMB Payments Run Through Thryv Annually $1B Annualized Payment based on end of the quarter.
Slide 53: Payment growth: online and offline
Q3 2019 Q1 2022E ONLINE PAYMENTS OFFLINE PAYMENTS PRODUCT INNOVATION PAYMENT GROWTH Significant Offline Payments Creates Continued Opportunity For Growth OPPORTUNITY $1B Annualized Payment based on end of the quarter.
Slide 54: Centralized inbox
Live + Email + One-way SMS + Two-Way SMS + Text Enabled Landline + Injecting Leads from all Marketing Services Products + Web Chat + Facebook Messenger + Instagram Messenger + Google Messenger Coming Soon PRODUCT INNOVATION CENTRALIZED INBOX
Slide 55: Conversations growth
PRODUCT INNOVATION CONVERSATIONS GROWTH Thryv Is Enabling 5.6M SMB-to-Customer Conversations Per Year Q1 2020 Q1 2022 ANNUALIZED CUSTOMER CONVERSATIONS ANNUALIZED BUSINESS CONVERSATIONS 5.6M Annualized Conversations based on end of the quarter.
Slide 56: Solving the problem across the customer journey
PRODUCT INNOVATION SOLVING THE PROBLEM Across The Customer Journey NAVIGATE FINANCIAL AID ROBERT ROGGERIO
Slide 57: Customer journey
Form Fill Centralized Inbox Online Appointment ~ Organize . How customers How you manage Estimates contactyou your day Project/Task /Job Tracking Research . Pay How How you “ ae Google My Business Phd ou Lifetime Value get paid Customer Invoice Social Payment Methods Nurture Thank You How you build
Slide 58: Dillion Lawn Service
DILLION LAWN SERVICE DALTON DILLION
Slide 59: ThryvPay growth
PRODUCT INNOVATION ThryvPay GROWTH Annualized Payment Volume Q4 2020 Q1 2022 Q4 2027* $3B $101M $7M *Management target.
Slide 60: Evolving & expanding: 2022 planned improvements
PRODUCT INNOVATION EVOLVING & EXPANDING 2022 Planned Improvements ThryvPay branded hardware ThryvPay branded Visa Card, called ThryvPay Money Buy now, pay later International expansion
Slide 61: Multi-location operating platform
LOGOS/LOCATIONS Q1 2020 85 Q1 2021 160 Q1 2022* 450 Multi-location Operating Platform *Management target. 2027* 10,000+
Slide 62: Thryv: everything an SMB needs
PRODUCT INNOVATION EVOLVING & EXPANDING Thryv Everything an SMB needs to run their day-to-day business and deliver an exceptional customer experience.
Slide 63: Evolving & expanding timeline
2021 2H-2022 2023 2024 2025 PRODUCT INNOVATION EVOLVING & EXPANDING
Slide 64: Marketing Center
MARKETING CENTER PRODUCT INNOVATION MARKETING CENTER A Centralized place to support all the marketing efforts of an SMB. CRM TRAFFIC/ANALYTICS MULTI-CHANNEL MEDIA CAMPAIGNS MARKETING TOOLS
Slide 65: Marketing Center CRM analytics
PRODUCT INNOVATION MARKETING CENTER Accurately informing small business owners about how their CRM customers interact with them online.
Slide 66: The end-to-end small business platform
THE END-TO-END SMALL BUSINESS PLATFORM 2021 2H-2022 2023 2024 2025 PRODUCT INNOVATION OUR FUTURE
Slide 67: Reimagining the Customer Experience
REIMAGINING THE CUSTOMER EXPERIENCE GRANT FREEMAN ©2022 Thryv, Inc. All Rights Reserved.
Slide 68: Diva Dogg Grooming
REIMAGINING THE CUSTOMER EXPERIENCE DIVA DOGG GROOMING RONNIE WOLVERTON
Slide 69: Client journey
REIMAGINING THE CUSTOMER EXPERIENCE CLIENT JOURNEY HAIR BY SIERRA SIERRA SMITH
Slide 70: Client journey stages
LEAD REIMAGINING THE CUSTOMER EXPERIENCE CLIENT JOURNEY SALE ONBOARDING GROWTH & ACCOUNT MANAGEMENT
Slide 71: Edery Chiropractic
EDERY CHIROPRACTIC DR. GABRIEL EDERY REIMAGINING THE CUSTOMER EXPERIENCE ACQUISITION
Slide 72: Acquisition: team selling, demand gen
REIMAGINING THE CUSTOMER EXPERIENCE ACQUISITION TEAM SELLING DEMAND GEN SOFTWARE SALES TEAM
Slide 73: Acquisition: sales process
UNDERSTAND THE IMPACT IDENTIFY THE PROBLEM SOLVE THE PROBLEM REIMAGINING THE CUSTOMER EXPERIENCE ACQUISITION – SALES PROCESS
Slide 74: Genco Floorcovering
REIMAGINING THE CUSTOMER EXPERIENCE RETENTION &ENGAGEMENT GENCO FLOORCOVERING, INC. JUSTIN ALBERTSON
Slide 75: Retention: onboarding and account management
GROWTH & ACCOUNT MANAGEMENT ONBOARDING REIMAGINING THE CUSTOMER EXPERIENCE RETENTION
Slide 76: Customer as a north star
ENGAGE CUSTOMER AS A NORTH STAR REIMAGINING THE CUSTOMER EXPERIENCE RETENTION GROWTH & ACCOUNT MANAGEMENT ONBOARDING TIME TO FIRST VALUE (TTFV) SERVICE AS A DIFFERENTIATOR UNDERSTANDING & SOLVING THEIR PROBLEM SOLVING ADDITIONAL PROBLEMS OVER TIME LEADS TO RETENTION & GROWTH
Slide 77: The Journey Works
REIMAGINING THE CUSTOMER EXPERIENCE THE JOURNEY WORKS
Slide 78: Net Promoter Score by journey stage
LEAD REIMAGINING THE CUSTOMER EXPERIENCE CLIENT JOURNEY Net Promoter Score (NPS) SALE ONBOARDING GROWTH & ACCOUNT MANAGEMENT FEB 2020 FEB 2021 +72 +79 FEB 2020 FEB 2021 +84 +82 FEB 2020 FEB 2021 +62 +93
Slide 79: Core feature usage
67% 72% REIMAGINING THE CUSTOMER EXPERIENCE CORE FEATURE USAGE JAN 2021 DEC 2021
Slide 80: Daily active user growth
REIMAGINING THE CUSTOMER EXPERIENCE DAILY ACTIVE USER GROWTH JAN 2021 DEC 2021 Increased 27%
Slide 81: Seasoned churn
REIMAGINING THE CUSTOMER EXPERIENCE SEASONED CHURN JAN 2021 DEC 2021 2.0% 1.5%
Slide 82: Seasoned net dollar retention
REIMAGINING THE CUSTOMER EXPERIENCE SEASONED NET DOLLAR RETENTION (NDR) JAN 2021 DEC 2021 90% 94%
Slide 83: Relationship Net Promoter Score
20 Q3 2021 REIMAGINING THE CUSTOMER EXPERIENCE RELATIONSHIP NET PROMOTER SCORE (NPS) 8 Q3 2020
Slide 84: Diva Dogg Grooming timeline
DIVA DOGG GROOMING RONNIE WOLVERTON REIMAGINING THE CUSTOMER EXPERIENCE DIVA DOGG GROOMINGTIMELINE
Slide 85: 2018 started in their garage
HOMEGARAGE 2018 STARTED IN THEIR GARAGE WEBSITE POST-IT NOTES AMANDACSP
Slide 86: 2019 upgrading package
2019 UPGRADING PACKAGE CLIENT PORTAL SOCIAL MEDIA WEBSITE CRM CALENDAR/SCHEDULER DOCUMENTS REDUCED NO SHOWS
Slide 87: 2020 expanding package
2020 EXPANDING PACKAGE PAYMENTS CLIENT PORTAL SOCIAL MEDIA WEBSITE CRM CALENDAR/SCHEDULER DOCUMENTS JOT.FORM PACKAGES & COUPONS EMAIL & SMS MARKETING MOBILE COVID-19
Slide 88: 2021 expanding business
2021 EXPANDING BUSINESS SOCIAL MEDIA JOT FORM PACKAGES & COUPONS EMAIL & SMS MARKETING ESS THRYVPAY REFERRAL CRM CALENDAR/SCHEDULER DOCUMENTS CLIENT PORTAL WEBSITE
Slide 89: Diva Dogg clients
REIMAGINING THE CUSTOMER EXPERIENCE DIVA DOGG – CLIENTS 2018 2021 100+/- 4,600
Slide 90: Diva Dogg consistently increasing spend
REIMAGINING THE CUSTOMER EXPERIENCE DIVA DOGG – CONSISTENTLY INCREASING SPEND 2018 - 2021 7x INCREASE IN SPEND
Slide 91: Financial Summary
FINANCIAL SUMMARY PAUL ROUSE ©2022 Thryv, Inc. All Rights Reserved.
Slide 92: Positioned to create long-term stakeholder value
EBITDA GROWTH FREE CASH FLOW GROWTH REVENUEGROWTH REINVESTMENT IN GROWTH PRODUCT INNOVATION SUBSCRIBER GROWTH INTERNATIONAL EXPANSION M&A STAKEHOLDER VALUE CREATION FINANCIAL SUMMARY THRYV POSITIONED TO CREATE LONG-TERM STAKEHOLDER VALUE
Slide 93: Thryv differentiated model
MARKETING SERVICES Predictable Profit Stream Efficient Cross-sell Motion - Our “Zoo” SAAS Fast-growing SMB Platform At Scale Expanding Internationally FINANCIAL SUMMARY THRYV DIFFERENTIATED MODEL
Slide 94: Marketing Services: 3D Print Everything
FINANCIAL SUMMARY MARKETING SERVICES 3D PRINT EVERYTHING MICHAEL LYNN
Slide 95: Total Marketing Services
FINANCIAL SUMMARY TOTAL MARKETING SERVICES High sustained EBITDA margins Variable cost structure Consistent predictable billing trends Leverage cash flow generation, resources and 400k captive customer base Highly complementary for seamless cross-sell opportunities (1/3 of SaaS) Direct referrals dri
Slide 96: High sustained adjusted EBITDA margins
$200M FINANCIAL SUMMARY TOTAL MARKETING SERVICES High Sustained Adjusted EBITDA Margins
Slide 97: Print Yellow Pages: lengthening directory life
FINANCIAL SUMMARY PRINT YELLOW PAGES (PYP) Lengthening Directory Life TRANSITION 18-MONTH PUBLICATION CYCLES IN 2022 ENHANCES FORWARD CASH FLOW VISIBILITY IMPROVES UNIT ECONOMICS FREES UP SALES REP TIME TO FOCUS ON SAAS
Slide 98: SaaS
MASTER IT MEDIA MAGGIE CAREY FINANCIAL SUMMARY SAAS Provide exceptional client value proposition creating a flywheel that will continue to drive durable growth.
Slide 99: The future: repositioned for growth
FINANCIAL SUMMARY THE FUTURE Repositioned For Growth Early Success: Captive client base Experimenting down-market Refocused upmarket with product fit SMB industry tailwinds with targeted growth investments Note: Midpoint of 2022E SaaS revenue guidance range (established March 10, 2022).
Slide 100: Quarterly ARPU growth
Q1 2018 Q4 2021 $204 FINANCIAL SUMMARY QUARTERLY ARPU GROWTH Up-market Focus Accelerating Annual Spend $351 ~$2,500 ~$4,000 Product roadmap creating more revenue/expansion opportunities. Monetization team driving upgrade motion. Melt-up from ICP focus and lower-value tier churn abating. ~$4,000 annu
Slide 101: SaaS growth in FY21
SUBSCRIBER GROWTH ARPU GROWTH FINANCIAL SUMMARY SAAS GROWTH IN FY21 Balanced Subscriber Growth & ARPU Expansion 2021
Slide 102: SaaS growth in FY22
SUBSCRIBER GROWTH ARPU GROWTH FINANCIAL SUMMARY SAAS GROWTH IN FY22 Balanced Subscriber Growth & ARPU Expansion 2022E Note: Projected FY 2022 Growth.
Slide 103: Subscriber count growth
FINANCIAL SUMMARY SUBSCRIBER COUNT GROWTH Expect Double-Digit Growth In FY22 Robust sales and onboarding motion. Delivering faster time-to-value. Exceptional engagement and world-class SMB client retention. Added growth levers in Thryv Australia and Vivial – our ”zoos”. Double-Digit Growth
Slide 104: Focus on profitability
FINANCIAL SUMMARY FOCUS ON PROFITABILITY SaaS Segment Adjusted Gross Margin Improvement 75% 2027* 64% 2021 Favorable mix shift to SaaS Platform will be a driver of Adjusted Gross Margin Improvement driven by product innovation Roll-out of unique Thryv Centers Thryv Add-on revenue Carries lower gross
Slide 105: SaaS guidance & future goals
2021 2022E 2027* REVENUE $171M $206M to $208M $1B ADJUSTED GROSS MARGIN 64% >66% 75% ADJUSTED EBITDA MARGIN -12% -10% to -12% 20% FINANCIAL SUMMARY SAAS GUIDANCE & FUTURE GOALS Note: 2022E Revenue and EBITDA guidance range (established March 10, 2022). *Management target. Includes Domestic and Inter
Slide 106: Treasury, Tax & Corporate Development
TREASURY, TAX & CORPORATE DEVELOPMENT KJ CHRISTOPHER ©2022 Thryv, Inc. All Rights Reserved.
Slide 107: M&A track record
FINANCIAL SUMMARY M&A TRACK RECORD History of synergy-rich acquisitions at advantageous valuations (EV/EBITDA).
Slide 108: M&A track record: acquisitions
YP Holdings Acquired ~2.0x EV/EBITDA Created nation-wide platform Unlocked hundreds of millions in synergies Sensis Holdings Acquired ~2.0x Access to Australian market 40% EBITDA Margins FINANCIAL SUMMARY M&A TRACK RECORD History of synergy-rich acquisitions at advantageous valuations (EV/EBITDA). N
Slide 109: History of debt management
FINANCIAL SUMMARY HISTORY OF DEBT MANAGEMENT Delivered $1.5 Billion in cash flow since 2016. Debt Leverage Ratio History of utilizing free cash flow to deliver value. Well below covenant cap of 3.0x. Repaid >$1B of debt and returned $500mm to shareholders since 2016. Modestly levered-up to pursue st
Slide 110: Thryv
taryv
Slide 111: Appendix
APPENDIX ©2022 Thryv, Inc. All Rights Reserved.
Slide 112: 1st Quarter & FY 2022 SaaS outlook
Note: 2022E Revenue and EBITDA guidance range (established March 10, 2022). Q1 2022 FY 2022 MANAGEMENT COMMENTARY TOTAL SAAS REVENUE $47.5 to $47.7 Million $206 to $208 Million Company expects 20% to 22% growth for FY22 EBITDA $12 to $13 Million Loss $21 to $25 Million Loss Company expects FY22 Tota
Slide 113: FY 2022 Marketing Services outlook
*Includes Domestic and International Revenue. Note: 2022E Revenue and EBITDA guidance range (established March 10, 2022). APPENDIX FY 2022 MARKETING SERVICES OUTLOOK Company Reiterates Guidance For FY22 FY 2022 MANAGEMENT COMMENTARY TOTAL MARKETING SERVICES* $870 to $890 Million Q1: Range of $238 to
Slide 114: Adjusted EBITDA reconciliation
$ IN THOUSANDS Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY20 FY21 Net Income (loss) $ 28,102 $ 11,464 $ (145) $ 109,800 $ 36,506 $ 24,359 $ 35,624 $ 5,088 $ 149,221 $ 101,577 Interest expense 19,930 18,012 15,609 14,988 15,672 19,170 16,546 14,986 68,539 66,374 Income tax expense (benefit) 13
Slide 115: Segment information
APPENDIX SEGMENT INFORMATION $ IN THOUSANDS MARKETING SERVICES SAAS THRYV INTERNATIONAL FY21 Revenue $797,493 $170,498 $145,391 $1,113,382 Gross profit $540,064 $104,746 $60,529 $705,339 Plus: Depreciation and amortization expense 15,706 4,972 32,555 53,233 Stock-based compensation expense 313 67 —