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Jun 30, 2024
Thryv Q2 2024 Earnings Report
Thryv reported a decrease in consolidated total revenue but grew SaaS revenue. Net income decreased compared to the same quarter last year, but SaaS Adjusted EBITDA exceeded guidance.
Key Takeaways
Thryv Holdings, Inc. reported SaaS revenue growth of 25% year-over-year in the second quarter of 2024. The company ended the quarter with 85,000 SaaS clients, a 52% increase year-over-year. Consolidated total revenue was $224.1 million, an 11% decrease year-over-year, and consolidated net income was $5.5 million.
SaaS revenue grew 25% year-over-year.
SaaS subscribers increased by 52% year-over-year, reaching 85,000 clients.
More than 10% of current clients have two or more paid centers, up from 2% last year.
Total Marketing Services revenue was $146.3 million, a 23% decrease year-over-year.
Revenue by Segment
Forward Guidance
Thryv issued guidance for the third quarter and full year 2024.
Positive Outlook
- SaaS Revenue for Q3 2024 is expected to be in the range of $82 million to $84 million.
- SaaS Revenue for the full year 2024 is expected to be in the range of $326 million to $329 million.
- SaaS Adjusted EBITDA for Q3 2024 is expected to be in the range of $9 million to $10 million.
- SaaS Adjusted EBITDA for the full year 2024 is expected to be in the range of $30 million to $32 million.
- Marketing Services Revenue for the full year 2024 is expected to be in the range of $485 million to $492 million.
Challenges Ahead
- Marketing Services Revenue for Q3 2024 is expected to be in the range of $94 million to $97 million.
- Marketing Services Revenue for Q4 2024 is expected to be in the range of $85 million to $89 million.
- Marketing Services Adjusted EBITDA for the full year 2024 is expected to be in the range of $128 million to $131 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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