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Dec 31, 2023
Thryv Q4 2023 Earnings Report
Reported SaaS revenue growth of 25% year-over-year and exceeded full-year SaaS guidance. Q4 SaaS Adjusted EBITDA exceeded the midpoint of guidance by over $2.75 million and NDR increased 400 bps sequentially to 96%.
Key Takeaways
Thryv Holdings, Inc. reported strong Q4 2023 results with SaaS revenue growth of 25% year-over-year. The company exceeded its SaaS Adjusted EBITDA guidance and generated strong free cash flow, enabling a $120 million debt paydown.
Total SaaS revenue was $74.0 million, a 25% increase year-over-year.
Total Marketing Services revenue was $162.2 million, a 26% decrease year-over-year.
Consolidated total revenue was $236.2 million, a decrease of 15% year-over-year.
Consolidated net loss was $257.5 million, or $(7.39) per diluted share, including a non-cash charge of $268.8 million related to goodwill impairment.
Revenue by Segment
Forward Guidance
Thryv provided guidance for Q1 2024 and full year 2024.
Positive Outlook
- SaaS Revenue Q1 2024: $73 - $74 million
- SaaS Revenue FY2024: $325 - $328 million
- SaaS Adjusted EBITDA Q1 2024: $6 - $7 million
- SaaS Adjusted EBITDA FY2024: $26 - $29 million
- Marketing Services Revenue FY2024: $495 - $505 million
Challenges Ahead
- Marketing Services Revenue Q1 2024: $152 - $155 million
- Marketing Services Revenue Q2 2024: $146 - $149 million
- Marketing Services Revenue Q3 2024: $99 - $101 million
- Marketing Services Revenue Q4 2024: $98 - $100 million
- Marketing Services Adjusted EBITDA: $132 - $135 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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