Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q4 2020 Earnings Presentation
17 slides from Thryv's earnings presentation, Mar 25, 2021
Slide 1: Investor Supplement Fourth Quarter 2020
Investor Supplement Fourth Quarter 2020
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: Fourth Quarter Highlights
Fourth Quarter Highlights SaaS • Revenue of $34.9M, up 8% YoY Billings of $38.8M, Marketing • Services Debt Repayment up 13% YoY • Debt Repayment of • ARPU increased to • Revenue of $212.1M, $57.4M $293, compared to down 32%fYoY $260 in Q3 2020 • Leverage Ratio was • Billings of $232.5M, 1.3x (fifth
Slide 4: 4th Quarter & FY 2020 Revenue Highlights
4th Quarter & FY 2020 Revenue Highlights Key Highlights: • Q4 SaaS revenue increased +8% YoY and returned to annual growth as $ in Thousands 4th Quarter Full Year 2020 revenue and client mix improved 2020 2019 % 2020 2019 % following strategic shift to focus up- Revenue market SaaS $34,870 $32,407 8
Slide 5: Historical Segment Financials
Historical Segment Financials Key Highlights: • SaaS revenue accelerated to end FY 2020 as demand for cloud-based software $ in Thousands increased. Saas Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 FY-19 FY-20 Revenue $32,578 $32,272 $31,322 $32,407 $31,848 $31,285 $31,821 $34,870 $128,579 $129,
Slide 6: SaaS 2020 Quarterly Financial Highlights
SaaS 2020 Quarterly Financial Highlights 36.0 10% SaaS business Business has accelerating due to returned to growth 8% 35.0 8% SMB industry trajectory with 6% tailwinds and renewed focus on our 34.0 product innovation. core target market 4% 33.0 2% 2% 32.0 0% 31.0 (2%) SaaS business (2%) (3%) Positi
Slide 7: Marketing Services 2020 Quarterly Financial Highlights
Marketing Services 2020 Quarterly Financial Highlights 350.00 45% 41% 40% 300.00 38% 35% 250.00 32% 33% 30% 200.00 25% 150.00 20% 15% 100.00 10% 50.00 5% 0.00 0% Q1-20 Q2-20 Q3-20 Q4-20 Revenue EBITDA Margin % • Gradual structural change in market driving • 3.8 billion references representing over 9
Slide 8: Historical Segment Billings
Historical Segment Billings $ in Thousands Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 FY-18 FY-19 FY-20 Billings SaaS 25.3 28.2 30.2 32.7 33.8 34.3 34.0 34.2 33.2 31.2 34.6 38.8 $116 $136 $138 YoY % 34% 22% 12% 5% (2%) (9%) 2% 13% 17% 1% Marketing Services 461.8 425.9 40
Slide 9: SaaS Metrics
SaaS Metrics MAUs (k) # Clients (k) YoY Change 45.4 44.5 44.1 44.0 28 (7%) 27 (11%) 27 (15%) 26 (17%) Q1-20 Q2-20 Q3-20 Q4-20 Q1-20 Q2-20 Q3-20 Q4-20 ARPU Churn $293 3.4% 3.0% $260 2.7% 2.4% $240 $232 Q1-20 Q2-20 Q3-20 Q4-20 Q1-20 Q2-20 Q3-20 Q4-20 9
Slide 10: Engagement
Engagement MAUs by Frequency (k) 28 27 27 26 23% 10% 5% +47% YoY -6% Q1-20 Q2-20 Q3-20 Q4-20 Daily Weekly Monthy %Chg YOY 10
Slide 11: Enhanced CRM – Announced March 2021
Enhanced CRM – Announced March 2021 Thryv now enables SMBs to track, and manage their day-to-day work. Enables more robust customizable 1-to-many relationships 11
Slide 12: Acquisition of Sensis Holdings
Expands Thryv Simple Integration Internationally • Sensis well-run asset with • Provides access to +40% EBITDA margins market of +100k SMBs • English-speaking country in Australia • Substantially similar to • Less highly-penetrated Thryv’s Marketing Services market than U.S. business Acquisition of
Slide 13: ThryvPay Update
ThryvPay Update Avg. Volume Per Day $120,000 Today $100,000 $80,000 $60,000 $40,000 Launch $20,000 $0 Nov Dec Jan Feb Mar ThryvPay shows Requesting payments strength in use and Minimizes late or with Thryv digital adoption since Q4 missed payments invoices has greatly Avg Transaction Size 2020 launc
Slide 14: FY 2021 Outlook
FY 2021 Outlook FY 2021 Management Commentary $140 to $145 • Raised from $139 to $143 million SaaS Revenue million • Low double-digit growth in 1H 2021 • Maintaining guidance due to visibility in sales canvass process • Q1: $214 to $217 million Marketing $740M to $760 • Q2: $192 to $197 million Serv
Slide 15: Top Priorities for FY 2021
Drive Cloud Adoption Engagement In SMB Market • Continue to educate clients • Aggressively sell Thryv via on features and how to new channels as business leverage capabilities within environment recovers platform • Convert “unclouded” • Expand app marketplace and drive time in-app • Efficiently effe
Slide 16: Appendix
Appendix 16
Slide 17: Appendix: Non-GAAP Financial Reconciliation
Appendix: Non-GAAP Financial Reconciliation $ in Thousands Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 FY 2019 FY 2020 Net Income (Loss) $34,488 $3,341 ($272) ($2,053) $28,102 $11,464 ($145) $109,800 $35,504 $149,221 Interest Expense 22,264 25,138 23,666 21,883 19,930 18,012 15,609 14,988 92,951