When Thryv Holdings Inc. (NASDAQ: THRY), listed on Nasdaq October 1, bypassed the IPO route and went straight to a listing. It’s not the usual way a company goes public.
According to CEO Joe Walsh, the Dallas-based company has a habit of defying expectations.
Thryv’s latest earnings: Although relatively new to the Nasdaq, Thryv has been operating under a variety of names for approximately 125 years, with an initial mission as a telephone directory editor.
Today, the main focus is on a software that bears the company’s name as a solution management platform for smaller businesses, as well as marketing services tied to proprietary search sites like Yellowpages.com and Superpages.com.
In an interview with Benzinga, Walsh highlighted Thryvs fourth quarter and fiscal 2020 results released last week. The new data showed that the company exceeded the guidelines set for each source of income:
- SaaS revenue was $ 34.9 million while the forecast was $ 33 million.
- Marketing services revenue was $ 212.1 million while the forecast range was between $ 190 million and $ 200 million.
- Total revenue was $ 246.9 million while the forecast was between $ 223 million and $ 233 million.
For the 2020 financial year, the company has further exceeded the guidelines originally mentioned:
- SaaS revenue was $ 129.8 million while the forecast was $ 128 million.
- Marketing services revenue was $ 979.6 million, while the forecast range was between $ 955 million and $ 965 million.
- Total revenue was $ 1.1 million while the forecast was between $ 1.08 million and $ 1.09 million
“We beat it across the board,” said Walsh. “We ran pretty extensively last fall to help investors as we were a new public company.”
Walsh owes the company’s performance to its ability “to be fairly focused on small businesses and their needs,” adding that Thryv was trying to address the myriad of concerns the sector has faced over the past year.
“With this platform, a small business can update their hours of operation, update their COVID security logs, and anything they need to keep the market informed in real time,” he said. “It keeps their SEO nice and tight and up to date so they can still be found online, and it manages the management of ratings and reviews tied to their reputation on social media.”
Speaking of the company’s marketing services, Walsh said this aspect of Thryv “really exceeded expectations,” which he attributes to “very mature customers” willing to work with the company during the pandemic, especially when migrating from the traditional employment situation to a distant workforce.
“We call it moving the clouds into the cloud,” he said.
What’s next for Thryv: Looking ahead, Walsh is placing greater emphasis on Thryv Pay, a proprietary payment system that launched in the fourth quarter.
“We’re excited about it – it’s going to be a really important part of what we do,” he said. A dedicated sales team for our SaaS business will also be set up in the coming months. We’re seeing the growth rate in new customer acquisitions increase – we’ve found the sweet spot of customer loyalty by getting them to use and benefit from the software. “
Photo courtesy Thryv Holdings.
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