Overview

* Thryv ( THRY ) Q2 SaaS revenue grows 48% yr/yr, total revenue beats estimates

* Consolidated adjusted EBITDA beats estimates, reflecting improved operational efficiency

* Company reduces term debt by $26 mln, enhancing financial flexibility

Outlook

* Thryv ( THRY ) sees Q3 SaaS revenue between $116 mln and $117 mln

* Company expects full-year SaaS revenue of $460 mln to $465 mln

* Thryv ( THRY ) projects Q3 Marketing Services revenue of $84 mln to $85 mln

* Company anticipates full-year Marketing Services adjusted EBITDA of $78.5 mln to $80.5 mln

Result Drivers

* SAAS CLIENT GROWTH - SaaS clients grew 25% year-over-year, contributing to revenue increase

* REVENUE RETENTION - Seasoned Net Revenue Retention improved by 900 bps, excluding Keap

* DEBT REDUCTION - Reduced term debt by $26 mln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $210.47 $203.70

Revenue mln mln (4

Analysts

)

Q2 EPS $0.31

Q2 Net $13.93

Income mln

Q2 Beat $51.20 $43.50

Adjusted mln mln (4

EBITDA Analysts

)

Q2 24.3%

Adjusted

EBITDA

Margin

Q2 $150.70

Adjusted mln

Gross

Profit

Q2 EBIT $29.54

mln

Q2 Gross $146.62

Profit mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the advertising & marketing peer group is "buy"

* Wall Street's median 12-month price target for Thryv Holdings Inc ( THRY ) is $22.50, about 46% above its July 29 closing price of $12.14

* The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)