Q1 23 results

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  • May 4, 2023 at 12:37 pm #4691
    Nick Hargrave
    Keymaster

    Q1 23 results published:
    https://investor.thryv.com/news/news-details/2023/Thryv-Grows-SaaS-Revenue-24-Year-Over-Year-in-First-Quarter-2023/default.aspx

    Key to our thesis is SaaS growth, which is in line with our 15% client growth and encouragingly, ARPU is higher than our FY forecast. Marketing Services revenue decline is higher in Q1 than our forecasts for the full year, but EBITDA margin remains in line.

    Guidance for FY 23 has been maintained, with a marginally higher EBITDA expected. We highlight again that the EBITDA for Marketing Services is artificially low due revenue recognition in Q3 as contracts roll from 15 to 18 months which doesn’t impact billings and cash flow.

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