Thryv's 2020 Third-Quarter Financial Results Are In

The company that provides Thryv software, Thryv Holdings Inc., announced its third-quarter financial results and also provided thoughts and guidance on where the company is headed for the remainder of the year. Thryv’s offerings include a platform for small businesses to use, end-to-end client experiences that can help these businesses move forward and improve their relationships with their customers.

For the quarter, the company's total revenue was $240.3 million. Given the COVID19 situation, Thryv remains strong in its ability to create revenue and continue to offer more to its customers. The SaaS side of the business saw a revenue increase of 2% when compared with the third quarter of 2019, with $31.8 million.

Other important points to note about Thryv's third-quarter financial results include:

The adjusted EBITDA was $69.3 million for the quarter. Revenue from marketing services decreased when compared to last year. Overall net loss for the third quarter of 2020 was $0.1 million, compared with a net loss for the third quarter of 2019 of $0.3 million. The loss for the quarter, before income tax, was $24.4 million.

Thryv CEO Joe Walsh stated that this was a milestone quarter for the company. It re-entered the market as a public entity and saw a return of growth to its SaaS business. Businesses all across the U.S. struggled with issues related to the pandemic, but small and medium-sized businesses were able to survive, in many cases, due to solutions offered to them through the use of Thryv software. By giving these businesses the chance to conduct their business virtually, they were better able to remain afloat.

Clients are currently very engaged in using the Thryv software to conduct their business, and that trend is expected to continue as the company moves into 2021. The company now is on the NASDAQ, further enhancing Thryv's belief that there are additional long-term grown prospects for it to work toward. That will provide additional value to the company's shareholders, and help clients get more of what they're looking for, as well.

Right now, Thryv is serving around 350,000 small and medium-sized businesses, through both marketing services and SaaS opportunities. The end-to-end customer experience that the Thryv platform provides gives value to these businesses and their customers, while Thryv Leads provides a lead generation service that clients can use to accomplish more and reach out to those who may be interested in their services. In its marketing services division, the company offers both digital and print solutions under the brand “The Real Yellow Pages”.

Thryv's Outlook for the Future

The outlook for the last part of the year and 2021 are both very important areas where Thryv is paying close attention to changes, goals, and plans. The CFO of Thryv, Paul Rouse, stated that the expected 2020 fiscal year revenue for the SaaS side of the business was $128 million. That represents year-over-year growth from 2019 that is flat, which is good news amid a global pandemic. The SaaS side of the business remains strong and viable and will continue to grow into 2021. The marketing services revenue for the same fiscal year is expected to be approximately $955 to $956 million, assuming fourth-quarter projections are accurate.

Non-GAAP Measures Used

Financial measures used by Thryv are in accordance with Generally Accepted Accounting Principles. Additionally, there are also non-GAAP financial measures offered to provide more information and insight into what the company is offering and how its revenue growth may work in the future. This information includes details such as the Adjusted EBITDA, and is for informational purposes only. Non-GAAP information should never be considered as a substitute for GAAP information, or taken in isolation, as it is only one part of the financial picture Thryv is offering.

However, both GAAP and non-GAAP measures provide useful and valuable information about the financial performance of the company. This is especially important in a global pandemic, where revenue projections and information may be different or unexpected. There are several ways to learn about a company's financial goals and prospects, and Thryv is dedicated to ensuring that proper knowledge of the company is available.

About Thryv Holdings, Inc.

The company owns the easy-to-use Thryv® end-to-end customer experience software built for small businesses that help over 40,000 SaaS clients with the daily demands of running a business. With Thryv, they can get the job, manage the job, and get credit. Thryv’s award-winning platform provides modernized business functions, allowing small-to-medium-sized businesses (SMB) to reach more customers, stay organized, get paid faster, and generate reviews. These include building a digital customer database, automated marketing through email and text, updating business listings across the internet, scheduling online appointments, sending notifications and reminders, managing ratings and reviews, generating estimates and invoices, and processing payments.

Thryv supports franchise operators and multi-location business owners with Hub by Thryv™, a software console that enables business managers to oversee their operations using the Thryv software.

Thryv also connects local businesses to consumer services through our search, display and social media management products, our print directories featuring The Real Yellow Pages® tagline, and our local search portals, which operate under the DexKnows.com®, Superpages.com® and Yellowpages.com URLs and reach some 35 million monthly visitors. For more information about the company, visit thryv.com.

Thryv delivers business services to more than 360,000 SMBs across America that enable them to compete and win in today’s economy.

Learn more about Thryv on LinkedIn and Medium.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes