Thryv Holdings, Inc. (NASDAQ:THRY) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET
Company Participants
Cameron Lessard - Director, IR & Capital Markets
Joseph Walsh - Chairman & CEO
Paul Rouse - CFO
Ryan Cantor - Chief Product Officer
Conference Call Participants
Arjun Bhatia - William Blair & Company
Rob Oliver - Robert W. Baird & Co.
Scott Berg - Needham & Company
Zack Cummins - B. Riley Securities
Operator
Ladies and gentlemen, good morning. My name is Abby, and I will be your conference operator today. At this time I would like to welcome everyone to Thryv Holding Incorporated Fourth Quarter and Full Year 2022 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]. Thank you and I will now turn the conference over to Cameron Lessard, Head of Investor Relations. You may begin.
Cameron Lessard
Thank you operator. Hello and good day to everyone. Welcome to Thryv's fourth quarter 2022 earnings conference call. On the call today are Joe Walsh, Chairman and Chief Executive Officer; and Paul Rouse, Chief Financial Officer; and Ryan Cantor, Chief Product Officer. A copy of our earnings press release and investor presentation can be found on our website @Thryv.com in the investor section. Some of the comments made on today's call and some of the 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 call. Also on today's call, 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 IR website.
With that introduction, I would like to turn the call over to Joe Walsh.
Joseph Walsh
Good morning, Cameron. And thank you all for joining us on our call today to discuss our fourth quarter results. 2022 was a year of tremendous accomplishment and Thryv. We finished the year with strong financial results improved efficiency and continued product innovation with the release of marketing center. Fourth quarter SaaS revenue grew 25% year-over-year and 26% for the full year. SaaS subscribers ended the year at just over 52,000, an increase of 13% year-over-year. SaaS monthly ARPU grew 10% in the quarter. Our average customer now spends around $4,400 a year compared to $4,000 one year ago and $3,000 in 2020. So we're making really good progress on ARPU with customers using the product more and buying more and buying higher end versions of the product.