View all news

Thryv Grows SaaS Revenue 29% Year-Over-Year for First Quarter 2022

05/04/2022

Raises Revenue Guidance for Full Year 2022

DALLAS--(BUSINESS WIRE)-- Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the small business platform for growing small and medium sized businesses (“SMBs”), announced that it grew SaaS revenue 29% year-over-year in Q1 of 2022 and is raising revenue guidance for full year 2022.

“We are pleased to report a strong first quarter,” said Joe Walsh, Chairman and CEO. “We saw an increase in revenue overall and outstanding growth in our SaaS revenue, ahead of our SaaS revenue guidance targets. In addition, we continue to drive new subscribers and expect double-digit subscriber growth in 2022. These results demonstrate that SMBs are starting the move to the cloud and modernize the way they run their businesses.”

“We are seeing this shift in the U.S. and also in our international operations, including our recent expansion to Canada. In support of our international expansion, we recently announced the hiring of Marie Caron as our President - International Markets. Marie's experience and her leadership will be critical in fueling our international expansion.”

“We also recently held a successful investor and analyst day in New York City, where we shared a longer term vision for Thryv, targeting $1 billion in SaaS revenue by 2027 and our plan for achieving that goal,” said Walsh. “We view the next ten years as the decade of cloud adoption by SMBs and we are well positioned to lead the category.”

First Quarter 2022 Financial Highlights:

Revenue

  • Total SaaS1 revenue was $48.2 million, a 29.3% increase year-over-year
  • Total Marketing Services revenue was $260.2 million, a 6.9% increase year-over-year
  • Consolidated total revenue was $308.4 million, an increase of 9.9% year-over-year

Profitability

  • Consolidated net income was $33.5 million
  • Consolidated Adjusted EBITDA2 was $83.7 million, representing an Adjusted EBITDA margin of 27.1%
  • Total SaaS3 Adjusted EBITDA loss was $6.8 million
  • Total Marketing Services4 Adjusted EBITDA was $90.5 million, representing an Adjusted EBITDA margin of 34.8%
  • Consolidated Gross Profit was $197.9 million, an increase of 8.4% year-over-year
  • Consolidated Adjusted Gross Profit5 was $207.7 million
  • SaaS Adjusted Gross Profit6 was $30.4 million, representing an Adjusted Gross Profit Margin of 64.2%

SaaS Metrics

  • SaaS monthly Average Revenue per Unit (“ARPU”)7 increased to $352 for the first quarter of 2022, compared to $304 in the first quarter of 2021
  • Total SaaS clients increased by 3 thousand to 47 thousand for the first quarter of 2022
  • Seasoned Net Dollar Retention8 was 93% at end of the first quarter of 2022
  • SaaS monthly active users9 increased 16% year-over-year to 36 thousand active users. Daily and weekly users increased 21% year-over-year.

Outlook

Based on information available as of May 4, 2022, Thryv is raising guidance10 for the second quarter of 2022 and full year 2022 as indicated below:

For the second quarter of 2022, the Company expects:

  • Total SaaS revenue in a range of $50.5 to $51.0 million
  • Total SaaS Adjusted EBITDA loss11 in a range of $6.0 to $6.5 million
  • Total Marketing Services revenue in a range of $255 to $260 million

For the full year 2022, the Company currently expects:

  • Total SaaS revenue in a range of $208 to $209 million
  • Total SaaS Adjusted EBITDA loss11 in a range of $21 to $25 million
  • Total Marketing Services revenue in a range of $905 to $920 million
  • Total Marketing Services Adjusted EBITDA12 in a range of $315 to $320 million

Earnings Conference Call Information

Thryv will host a conference call on Wednesday, May 4, 2022 at 4:30 p.m. (Eastern Time) to discuss the Company's first quarter results.

To register for this conference call, please use this link or visit Thryv's Investor Relations website at investor.thryv.com. After registering, a confirmation email will be sent, including dial-in details and a unique code for entry. We recommend registering a day in advance or at a minimum thirty minutes prior to the start of the call. A live webcast will also be available on the Investor Relations section of the Company's website at investor.thryv.com.

If you are unable to participate in the conference call, a replay will be available. To access the replay, please dial (800) 770-2030 or (647) 362-9199 and enter “87769.”

1

Total SaaS revenue in the U.S. and International was $47.3 million and $0.8 million for the three months ended March 31, 2022, respectively.

2

Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See “Non-GAAP Measures” below for additional information.

3

Total SaaS Adjusted EBITDA loss in the U.S. and International was $4.4 million and $2.4 million for the three months ended March 31, 2022, respectively. Total SaaS Adjusted EBITDA loss is a non-GAAP financial measure. See “Supplemental Financial Information” below for more information.

4

Total Marketing Services Adjusted EBITDA in the U.S. and International was $66.4 million and $24.1 million for the three months ended March 31, 2022, respectively. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See “Supplemental Financial Information” below for more information.

5

Adjusted Gross Profit is a non-GAAP financial measure. See “Non-GAAP Measures" below for additional information.

6

SaaS Adjusted Gross Profit and Adjusted Gross Profit margin are non-GAAP financial measures. See “Supplemental Financial Information” below for more information.

7

Defined as total client billings by month divided by the number of revenue-generating units during the month.

8

Seasoned Net Dollar Retention is defined as net dollar retention excluding clients acquired over the previous 12 months.

9

Defined as a client with one or more users who log into our SaaS solutions at least once during the calendar month.

10

These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause our actual results to materially differ from these forward-looking statements.

11

A reconciliation of Total SaaS Adjusted EBITDA loss, a non-GAAP financial measure, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the unavailability of reconciling information, including income tax expense and net periodic pension cost.

12

A reconciliation of Total Marketing Services Adjusted EBITDA, a non-GAAP financial measure, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the unavailability of reconciling information, including income tax expense and net periodic pension cost.

Final Results

Thryv Holdings, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income

 

 

 

Three Months Ended March 31,

 

 

(in thousands, except share and per share data)

 

2022

 

2021

Revenue

 

$

308,375

 

 

$

280,606

 

Cost of services

 

 

110,519

 

 

 

98,160

 

Gross profit

 

 

197,856

 

 

 

182,446

 

 

 

 

 

 

Operating expenses:

 

 

 

 

Sales and marketing

 

 

93,955

 

 

 

76,540

 

General and administrative

 

 

52,194

 

 

 

41,279

 

Total operating expenses

 

 

146,149

 

 

 

117,819

 

 

 

 

 

 

Operating income

 

 

51,707

 

 

 

64,627

 

Other income (expense):

 

 

 

 

Interest expense

 

 

(13,108

)

 

 

(11,607

)

Interest expense, related party

 

 

(1,759

)

 

 

(4,065

)

Other components of net periodic pension benefit (cost)

 

 

70

 

 

 

453

 

Other income (expense)

 

 

6,222

 

 

 

(1,093

)

Income before income tax

 

 

43,132

 

 

 

48,315

 

Income tax expense

 

 

(9,621

)

 

 

(11,809

)

Net income

 

$

33,511

 

 

$

36,506

 

Other comprehensive income (loss):

 

 

 

 

Foreign currency translation adjustment

 

 

5,448

 

 

 

(2,967

)

Comprehensive income

 

$

38,959

 

 

$

33,539

 

 

 

 

 

 

Net income per common share:

 

 

 

 

Basic

 

$

0.98

 

 

$

1.10

 

Diluted

 

$

0.88

 

 

$

1.07

 

 

 

 

 

 

Weighted-average shares used in computing basic and diluted net income per common share:

 

 

 

 

Basic

 

 

34,159,979

 

 

 

33,108,422

 

Diluted

 

 

37,957,685

 

 

 

34,013,480

 

Thryv Holdings, Inc. and Subsidiaries

Consolidated Balance Sheets

 

(in thousands, except share data)

March 31, 2022

 

December 31, 2021

Assets

(unaudited)

 

 

Current assets

 

 

 

Cash and cash equivalents

$

21,446

 

 

$

11,262

 

Accounts receivable, net of allowance of $17,702 in 2022 and $17,387 in 2021

 

305,729

 

 

 

279,053

 

Contract assets, net of allowance of $59 in 2022 and $88 in 2021

 

4,062

 

 

 

5,259

 

Taxes receivable

 

15,248

 

 

 

14,711

 

Prepaid expenses

 

43,112

 

 

 

22,418

 

Indemnification asset

 

24,746

 

 

 

24,346

 

Other current assets

 

14,572

 

 

 

13,596

 

Total current assets

 

428,915

 

 

 

370,645

 

Fixed assets and capitalized software, net

 

49,965

 

 

 

50,938

 

Goodwill

 

673,713

 

 

 

671,886

 

Intangible assets, net

 

77,457

 

 

 

82,577

 

Deferred tax assets

 

108,912

 

 

 

90,565

 

Other assets

 

30,753

 

 

 

33,891

 

Total assets

$

1,369,715

 

 

$

1,300,502

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

16,433

 

 

$

8,610

 

Accrued liabilities

 

146,350

 

 

 

131,813

 

Current portion of unrecognized tax benefits

 

30,171

 

 

 

29,771

 

Contract liabilities

 

61,471

 

 

 

51,726

 

Current portion of long-term debt

 

70,000

 

 

 

70,000

 

Other current liabilities

 

18,114

 

 

 

15,214

 

Total current liabilities

 

342,539

 

 

 

307,134

 

Term Loan, net

 

375,422

 

 

 

309,672

 

Term Loan, related party

 

60,902

 

 

 

142,875

 

ABL Facility

 

62,975

 

 

 

39,929

 

Pension obligations, net

 

132,456

 

 

 

140,167

 

Deferred tax liabilities

 

7,374

 

 

 

10,798

 

Other liabilities

 

31,606

 

 

 

35,212

 

Total long-term liabilities

 

670,735

 

 

 

678,653

 

Commitments and contingencies

 

 

 

Stockholders' equity

 

 

 

Common stock - $0.01 par value, 250,000,000 shares authorized; 60,913,663 shares issued and 34,22,121 shares outstanding at March 31, 2022; and 60,830,853 shares issued and 34,145,311 shares outstanding at December 31, 2021

 

609

 

 

 

608

 

Additional paid-in capital

 

1,087,054

 

 

 

1,084,288

 

Treasury stock - 26,685,542 shares at March 31, 2022 and 26,685,542 shares at December 31, 2021

 

(468,879

)

 

 

(468,879

)

Accumulated other comprehensive income (loss)

 

(2,599

)

 

 

(8,047

)

Accumulated deficit

 

(259,744

)

 

 

(293,255

)

Total stockholders' equity

 

356,441

 

 

 

314,715

 

Total liabilities and stockholders' equity

$

1,369,715

 

 

$

1,300,502

 

Thryv Holdings, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

 

Three Months Ended March 31,

(in thousands)

2022

 

2021

Cash Flows from Operating Activities

(unaudited)

 

(unaudited)

Net income

$

33,511

 

 

$

36,506

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

21,969

 

 

 

19,718

 

Amortization of debt issuance costs

 

1,441

 

 

 

433

 

Deferred income taxes

 

(5,671

)

 

 

(13,249

)

Provision for credit losses and service credits

 

5,467

 

 

 

6,546

 

Stock-based compensation expense

 

1,928

 

 

 

1,971

 

Other components of net periodic pension (benefit)

 

(70

)

 

 

(453

)

Loss on foreign currency exchange rates

 

1,077

 

 

 

835

 

Bargain purchase gain

 

(7,297

)

 

 

 

Other

 

1,440

 

 

 

320

 

Changes in working capital items, excluding acquisitions:

 

 

 

Accounts receivable

 

(12,361

)

 

 

26,846

 

Contract assets

 

1,285

 

 

 

1,446

 

Prepaid expenses and other assets

 

(6,920

)

 

 

(10,998

)

Accounts payable and accrued liabilities

 

(9,775

)

 

 

(57,861

)

Other liabilities

 

3,303

 

 

 

2,144

 

Net cash provided by operating activities

 

29,327

 

 

 

14,204

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

Additions to fixed assets and capitalized software

 

(3,999

)

 

 

(3,668

)

Acquisition of a business, net of cash acquired

 

(22,003

)

 

 

(174,190

)

Net cash (used in) investing activities

 

(26,002

)

 

 

(177,858

)

 

 

 

 

Cash Flows from Financing Activities

 

 

 

Proceeds from Term Loan

 

 

 

 

418,070

 

Proceeds from Term Loan, related party

 

 

 

 

260,930

 

Payments of Term Loan

 

(15,444

)

 

 

 

Payments of Term Loan, related party

 

(2,056

)

 

 

 

Payments of Senior Term Loan

 

 

 

 

(335,821

)

Payments of Senior Term Loan, related party

 

 

 

 

(113,789

)

Proceeds from ABL Facility

 

302,374

 

 

 

249,936

 

Payments of ABL Facility

 

(279,327

)

 

 

(285,492

)

Proceeds from exercises of stock options and stock warrants

 

839

 

 

 

1,560

 

Other

 

 

 

 

(3,598

)

Net cash provided by financing activities

 

6,386

 

 

 

191,796

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

541

 

 

 

(707

)

Increase in cash and cash equivalents and restricted cash

 

10,252

 

 

 

27,435

 

Cash and cash equivalents and restricted cash, beginning of period

 

13,557

 

 

 

2,406

 

Cash and cash equivalents and restricted cash, end of period

$

23,809

 

 

$

29,841

 

 

 

 

 

Supplemental Information

 

 

 

Cash paid for interest

$

11,966

 

 

$

17,286

 

Cash paid for income taxes, net

$

15,421

 

 

$

15,753

 

 

Three Months Ended March 31,

 

Change

 

2022

 

2021

 

Amount

 

%

(in thousands of $)

 

Revenue

 

 

 

 

 

 

 

Marketing Services

$

212,533

 

 

$

227,933

 

$

(15,400

)

 

(6.8

) %

SaaS

 

47,343

 

 

 

37,251

 

 

10,092

 

 

27.1

%

Thryv International(1)

 

48,499

 

 

 

15,422

 

 

33,077

 

 

214.5

%

Consolidated Revenue

$

308,375

 

 

$

280,606

 

$

27,769

 

 

9.9

%

 

 

 

 

 

 

 

 

Marketing Services

$

136,510

 

 

$

156,161

 

$

(19,651

)

 

(12.6

) %

SaaS

 

29,409

 

 

 

23,167

 

 

6,242

 

 

26.9

%

Thryv International(1)

 

31,937

 

 

 

3,118

 

 

28,819

 

 

924.3

%

Segment Gross Profit

$

197,856

 

 

$

182,446

 

$

15,410

 

 

8.4

%

 

 

 

 

 

 

 

 

Segment EBITDA

 

 

 

 

 

 

 

Marketing Services

$

66,395

 

 

$

98,631

 

$

(32,236

)

 

(32.7

) %

SaaS

 

(4,364

)

 

 

316

 

 

(4,680

)

 

(1,481.0

) %

Thryv International (1)

 

21,686

 

 

 

5,986

 

 

15,700

 

 

262.3

%

Consolidated Adjusted EBITDA

$

83,717

 

 

$

104,933

 

$

(21,216

)

 

(20.2

) %

(1)

 

Thryv International includes Thryv Australia revenue subsequent to the March 1, 2021 acquisition date.

Non-GAAP Measures

Our results included in this press release include Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Gross Profit, which are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables below for a reconciliation of Adjusted EBITDA to Net income and Adjusted Gross Profit to Gross profit. Both Net income and Gross profit are the most comparable GAAP financial measure to Adjusted EBITDA and Adjusted Gross Profit, respectively. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue.

We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. However, it is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry.

The following is a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure, Net income:

 

 

Three Months Ended March 31,

(in thousands)

 

2022

 

2021

Reconciliation of Adjusted EBITDA

 

 

 

 

Net income

 

$

33,511

 

 

$

36,506

 

Interest expense

 

 

14,867

 

 

 

15,672

 

Income tax expense

 

 

9,621

 

 

 

11,809

 

Depreciation and amortization expense

 

 

21,969

 

 

 

19,718

 

Loss on early extinguishment of debt

 

 

 

 

 

299

 

Restructuring and integration expenses (1)

 

 

5,827

 

 

 

9,234

 

Transaction costs (2)

 

 

1,720

 

 

 

10,546

 

Stock-based compensation expense (3)

 

 

1,928

 

 

 

1,971

 

Other components of net periodic pension (benefit) cost (4)

 

 

(70

)

 

 

(453

)

Non-cash (gain) from remeasurement of indemnification asset (5)

 

 

(400

)

 

 

 

Other (6)

 

 

(5,256

)

 

 

(369

)

Adjusted EBITDA

 

$

83,717

 

 

$

104,933

 

(1)

For the three months ended March 31, 2022 and 2021, expenses relate to periodic efforts to enhance efficiencies and reduce costs, and include severance benefits, loss on disposal of fixed assets and capitalized software, and costs associated with abandoned facilities and system consolidation.

(2)

Expenses related to our direct listing, Thryv Australia and Vivial acquisitions and other transaction costs.

(3)

We record stock-based compensation expense related to the amortization of grant date fair value of the Company’s stock-based compensation awards. Additionally, stock-based compensation expense includes the remeasurement of these awards at each period end, prior to October 1, 2020.

(4)

Other components of net periodic pension cost is from our non-contributory defined benefit pension plans that are currently frozen and incur no additional service costs. The most significant component of other components of net periodic pension cost relates to the mark-to-market pension remeasurement.

(5)

In connection with the YP Acquisition, the seller indemnified us for future potential losses associated with certain federal and state tax positions taken in tax returns filed by the seller prior to the acquisition date.

(6)

Other primarily includes expenses related to potential non income-based tax liabilities. Additionally, during the three months ended March 31, 2022, Other includes the bargain purchase gain as a result of the Vivial Acquisition and foreign exchange-related expense.

The following is a reconciliation of Adjusted Gross Profit, to its most directly comparable GAAP measure, Gross profit:

 

Three Months Ended March 31, 2022

(in thousands)

Marketing Services

 

SaaS

 

International

 

Consolidated

Reconciliation of Adjusted Gross Profit

 

 

 

 

 

 

 

Gross profit

$

136,510

 

 

$

29,409

 

 

$

31,937

 

 

$

197,856

 

Plus:

 

 

 

 

 

 

 

Depreciation and amortization expense

 

4,395

 

 

 

979

 

 

 

4,442

 

 

 

9,816

 

Stock-based compensation expense

 

61

 

 

 

15

 

 

 

 

 

 

76

 

Adjusted Gross Profit

$

140,966

 

 

$

30,403

 

 

$

36,379

 

 

$

207,748

 

Gross Margin

 

64.2

%

 

 

62.1

%

 

 

65.9

%

 

 

64.2

%

Adjusted Gross Margin

 

66.3

%

 

 

64.2

%

 

 

75.0

%

 

 

67.4

%

 

Three Months Ended March 31, 2021

(in thousands)

Marketing Services

 

SaaS

 

International

 

Consolidated

Reconciliation of Adjusted Gross Profit

 

 

 

 

 

 

 

Gross profit

$

156,161

 

 

$

23,167

 

 

$

3,118

 

 

$

182,446

 

Plus:

 

 

 

 

 

 

 

Depreciation and amortization expense

 

4,619

 

 

 

755

 

 

 

5,870

 

 

 

11,244

 

Stock-based compensation expense

 

70

 

 

 

11

 

 

 

 

 

 

81

 

Adjusted Gross Profit

$

160,850

 

 

$

23,933

 

 

$

8,988

 

 

$

193,771

 

Gross Margin

 

68.5

%

 

 

62.2

%

 

 

20.2

%

 

 

65.0

%

Adjusted Gross Margin

 

70.6

%

 

 

64.2

%

 

 

58.3

%

 

 

69.1

%

Supplemental Financial Information

The following supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables below for a reconciliation of these non-GAAP financial measures to the corresponding segment financial measures presented in accordance with GAAP.

We believe that these non-GAAP financial measures provide useful information about our global SaaS and Marketing Services financial performance, enhance the overall understanding of our global SaaS and Marketing Services past financial performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods.

 

Three Months Ended March 31, 2022

(in thousands)

Marketing Services

 

SaaS

 

US

 

International

 

Total

 

US

 

International

 

Total

Revenue

$

212,533

 

 

$

47,664

 

 

$

260,197

 

 

$

47,343

 

 

$

835

 

 

$

48,178

 

Adjusted EBITDA

 

66,395

 

 

 

24,097

 

 

 

90,492

 

 

 

(4,364

)

 

 

(2,411

)

 

 

(6,775

)

Adjusted EBITDA Margin

 

31.2

%

 

 

50.6

%

 

 

34.8

%

 

 

(9.2

) %

 

 

(288.7

) %

 

 

(14.1

) %

 

Three Months Ended March 31, 2021

(in thousands)

Marketing Services

 

SaaS

 

US

 

International

 

Total

 

US

 

International

 

Total

Revenue

$

227,933

 

 

$

15,422

 

 

$

243,355

 

 

$

37,251

 

 

$

 

$

37,251

 

Adjusted EBITDA

 

98,631

 

 

 

5,986

 

 

 

104,617

 

 

 

316

 

 

 

 

 

316

 

Adjusted EBITDA Margin

 

43.3

%

 

 

38.8

%

 

 

43.0

%

 

 

0.8

%

 

 

NM

 

 

0.8

%

Forward-Looking Statements

Certain statements contained herein are not historical facts, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. Statements that include the words “may”, “will”, “could”, “should”, “would”, “believe”, “anticipate”, “forecast”, “estimate”, “expect”, “preliminary”, “intend”, “plan”, “target”, “project”, “outlook”, “future”, “forward”, “guidance” and similar statements of a future or forward-looking nature identify forward-looking statements. These statements are not guarantees of future performance. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the risks related to the following: risks related to the ongoing COVID-19 pandemic, the Company’s ability to maintain adequate liquidity to fund operations; the Company’s future operating and financial performance; the Company’s ability to consummate acquisitions, or, if consummated, to successfully integrate acquired businesses into the Company’s operations, the Company’s ability to recognize the benefits of acquisitions, or the failure of an acquired company to achieve its plans and objectives; limitations on our operating and strategic flexibility and the ability to operate our business, finance our capital needs or expand business strategies under the terms of our credit facilities; our ability to retain existing business and obtain and retain new business; general economic or business conditions affecting the markets we serve; declining use of print yellow page directories by consumers; our ability to collect trade receivables from clients to whom we extend credit; credit risk associated with our reliance on small and medium sized businesses as clients; our ability to attract and retain key managers; increased competition in our markets; our ability to obtain future financing due to changes in the lending markets or our financial position; our ability to maintain agreements with major Internet search and local media companies; reduced advertising spending and increased contract cancellations by our clients, which causes reduced revenue; and our ability to anticipate or respond effectively to changes in technology and consumer preferences as well as the risks and uncertainties set forth in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on From 10-Q filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such cautionary statements.

If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. For these reasons, we caution you against relying on forward-looking statements. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. These forward-looking statements speak only as of the date hereof and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Thryv Holdings, Inc.

Thryv Holdings, Inc. (NASDAQ: THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (“SMBs”), franchises and agencies to grow and modernize their operations so they can compete and win in today's economy. Over 46,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end customer experience, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and print directories. For more information about Thryv Holdings, Inc, visit thryv.com.

Media Contact:
Charity Lacey
Gregory FCA
Office: 619.368.4373
thryv@gregoryfca.com

Investor Contact:
Cameron Lessard
Thryv, Inc.
214.773.7022
cameron.lessard@thryv.com

Source: Thryv

Multimedia Files:

Categories: Press Releases
View all news