Thryv Holdings, Inc. (NASDAQ:THRY) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET

Company Participants

Cameron Lessard - Head, Investor Relations

Joe Walsh - Chairman and CEO

Paul Rouse - Chief Financial Officer

Ryan Cantor - Chief Product Officer

Conference Call Participants

Arjun Bhatia - William Blair

Scott Berg - Needham & Company

Patrick Schulz - Baird

Zach Cummins - B. Riley Securities

Daniel Moore - CJS

Operator

Thank you for standing by. My name is Anna, and I will be your conference operator today. At this time, I would like to welcome everyone to the Thryv Second Quarter 2023 Earnings Call. All lines have been place on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. Cameron Lessard, you may begin your conference.

Cameron Lessard

Thank you, Operator. Hello and good day to everyone. Welcome to Thryv’s second quarter 2023 earnings conference call. On the call today are Joe Walsh, Chairman and Chief Executive Officer; Paul Rouse, Chief Financial Officer; and Ryan Cantor, our Chief Product Officer. A copy of our earnings press release and investor presentation can be found on our website at thryv.com or in the Investors section at investor.thryv.com.

Please acknowledge, comments made on today’s call and responses to your questions may contain forward-looking statements about the operations and future results of the company. These statements are subject to the risks and uncertainties described in the company’s earnings release and other filings with the SEC. Thryv has no obligation to update the information presented on the conference call today.

Finally, our speakers will reference certain non-GAAP financial measures, which we believe will provide useful information for investors. Reconciliation of those measures to GAAP will be posted on our website.

With that introduction, I would like to turn the call over to Joe Walsh. Joe?

Joe Walsh

Good morning, Cameron. And thank you all for joining us on our call today to discuss our second quarter results. We had another solid quarter in SaaS, most notably from a bottomline perspective, as we continue to focus on driving profitable growth, maintaining flexibility and executing efficiently.

Highlights for the quarter were a 20% year-on-year SaaS revenue growth, SaaS EBITDA hit double-digit margins, client growth continues up double digits and our engagement trends continue to be very strong.

One of the things that we are really excited about is, we had a goal for the year on profitability for our SaaS business, which we have reached already. So, in our fervor to get more efficient, we got a lot more efficient and that is something that we are excited about. It did cause us to have a very narrow miss on our revenue guidance for SaaS.