- Earnings call transcript Q3 2022

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Operator

Ladies and gentlemen, good morning. My name is Abby, and I will be your conference operator today. I would like to welcome everyone to Thryv's Third Quarter 2022 Earnings Call. Today's call is being recorded. [Operator Instructions]. turn Relations over and now AVP Cameron will Investor of Capital I the to conference Lessard, And Markets.

You may begin.

Cameron Lessard

Thank conference call Rouse, Chief XXXX us and Chief on Thryv's Walsh, Officer. and are joining me quarter Paul Officer; call With financial you third results. Chairman today's Joe Financial Executive to for discuss on today's

announcing Before results. we issued call, we before shortly today's financial I'd begin, XXXX press like our release that quarter to remind you third a

on presentation and contain our at the call We the operations measures believe found on also remind today's that Investor for Reconciliations the will comments company's over call. the to investor published Walsh. the regarding and Joe and like future has of the no non-GAAP which call presentation. described in results update reference on performance to QX Thryv the call, note responses listeners Please speakers on uncertainties to presented I will we These investors. quarterly provide and earnings to with made to towards the posted information GAAP would Relations to guidance filings the of measures, useful be introduction, those will website statements that would With of our questions information information certain the subject forward-looking the on website. obligation SEC. today's turn statements Also, are a financial investor.thryv.com. of about other be like of some may company. I that risks the our back some to your can the and release

Joseph Walsh

enable third priorities morning, call. everyone. Thank progress made quarter's strong and earnings you, quarter our that performance on year-to-date. We our progress Cameron, Welcome to excellent good our strategic this and

full results once our outlook. further about provide details the guidance Paul a and our year raising financial again. will we're future result, As

ahead up SaaS X% XX% Let's of was million QX. $XX.X sequentially, year-over-year of jump into our the and revenue highlights guidance. of

that offers. both second digits. growth the is into row, including client to important the direct a accelerate has in they're SaaS. the we're trends our and riding. We and a a feel age between in a initiatives, this by like that is we This engineering of product, transformation megatrend double quarter cloud, kept a balance our golden digital SMBs subscriber we complete the market, teams. bolstered growth with is that continuing feel migrating been This This recent of in investing in For growth, are the looking like ARPU and success this decade Thryv platform for SMB result

profit cost-efficient in Sales wildly a little of also efficiency we customers to being discouraged SaaS loss growth Keep are call, we a showing So and to losses we It's from. a the mind, is We've loss generating with SaaS our efficient this that our better EBITDA. has of Services million. that talked cash the majority spend much is highly This the find on delivered model is The Marketing up, around flow guided about we're solid. against we're the which to EBITDA now. on $X been customers. growth. magic purely get of in which second a the achieve we have. standing being million, $X.X process for quarter On a our in in lead lot manner. lot able will of QX bit markets, U.S. EBITDA row. house, SaaS where a We've which QX future is been of international for to side overperformed

or our calling with customers, that's where by vast And in there base there, we the that referrals customers in on the from our of that we're from super get existing sales efficiency. course. and XXX,XXX normal majority working have either delivering directly We

of as has international key Association. Regarding of is on just spearheading regional in Toronto, leader. has job that, the million businesses. the the She's sales off. a our of that getting Canadian around HQ as X.X incredible Caron hiring Franchise opening partnerships market well Canada our done with Marie international, announced an kicked team we GetintheLoop and it taking and

mention On One in cash we named down were see is allows to one of other the want generate Marketing we're it performance take little that, pay which you to proud solid I'm With Services, balance of. Paul Overall, financial item the through we're predictable debt. of and me we very continue proud flow billings, for I most us the the to which to loved turn results. our over workplaces, let positioned year. really super of to how that Rouse

Paul Rouse

Joe. you, Thank

a As operations. to and going focus we're include on total international Marketing SaaS results, which and both Services reminder, total domestic

the to business. As guidance helpful provided feel you year, this may we recall, start how the is more we is of modeling and in the

business. with results, SaaS with starting start quarter our third our Let's

SaaS guidance $XX.X total ahead of range, was Third quarter-over-quarter. and which quarter XX% our of increase an revenue represents X% million, year-over-year

was with XX% growth and year-over-year, respectively. XX% attributed subscriber increase balance growth Annualized spend an the third quarter. As between approximately to and client for of in revenue a mentioned, $X,XXX per Joe the was ARPU expansion,

we was on The ahead was compared improved our the was to continue retention guidance. adjusted and due the as quarter, EBITDA SaaS dollar improve $X.X to which Seasoned Third loss gen XX% our slightly efforts. greater of for discipline is for and when quarter. negative third net reason ROI prior to overperformance our quarter marketing the million demand

Monthly over been with the a dollar for that quarter. one seasoned net As stable reminder, clients to retention for represents year. be churn continues have us

Marketing over Moving Services. to

Services to million due The the overperformance guidance. to contributed was for Marketing digital $XXX $XX of Third reason our and the quarter. is Vivial revenue Marketing quarter in ahead revenue total revenue. Services stronger-than-anticipated million

was Marketing in EBITDA XX%. quarter resulting adjusted $XX.X margin an of Third total million, EBITDA Services adjusted

less revenue year, for for expected Services As print our we start indicated of timing in Marketing the quarterly the of due at to outlook our directories. provided the

a excluding including million, When $XXX.X billings, X%. Marketing decline was Vivial, year-over-year. XX% billings, of quarter Vivial decline was the Third Services

now the for Turning business. and to profitability consolidated leverage

gross Third was quarter consolidated adjusted XX%. margin

million, $XX of was an adjusted representing EBITDA margin adjusted EBITDA consolidated quarter Third XX%.

Finally, debt million in quarter. our position $XXX net the was third

the leverage We credit to $XX.X loan. in $XX.X in X.Xx generated for accordance our the paid loan. Xx. quarter, year-to-date below free facility, Our covenant million flow cash is with towards of we term and debt of free third million EBITDA and flow our net paid towards ratio $XX million third generated our well perspective, in our quarter From and a term million cash $XX.X

let's Now for updated discuss XXXX. guidance

$XXX $XXX XXXX, million range for revenue year guidance This raised fourth For SaaS the million revenue total SaaS the million. $XX implies million the for our to the to total in of in full range we of quarter. $XX

$XX.X implies is range loss the improved the We including recent SaaS EBITDA range are Canada. million. SaaS which to quarter from updating in for designated of most guidance the in of previous $XX for $X.X is our million outlook million, international $XX.X loss investments, $X.X million EBITDA to launch to million our This $XX our in and of million fourth

$XXX to $XXX in of raising are margin total the EBITDA For the range the we of and adjusted $XXX to our revenue XX%. Services range $XXX Marketing full EBITDA year million XXXX, million guide of for representing in million million, our an raising

up, recognition peek give for into to you want to Marketing once revenue wrap Before a I about again minute Services XXXX. talk take you and a I to

years. reported specifically and XXX, heavily rule under shipments, has Our on method results recognition, Print the of Marketing accounting financial Services is fiscal and the of ASC is both a between our print by our impact timing timing impacted are directories. which and material revenue for schedule nonlinear publication revenue quarters

result, nonlinearity publication will the is the on a This recognize shipped. crystallized timing when as print of contract industry. associated entire the common as in revenue print revenue an this As we impact have with is once print

print a directory will revenue example, increase month an For periods or publication. revenue Services. of not the is decrease have indicator all Marketing between of recognized health fiscal of The XX-month the in first in

the and of For This consistent as our receipts, collection this steady down invoicing revenue expect debt. in shows reason, us performance Services recognition. provide monthly you. and pay Billings and an which manage discussed cash Marketing operational we gives generate of and have high follows very collections to unlike as the and business business, with we billings metric, cash confidence our ability actual also cash

$XXX full anticipate $XXX our the we year, paying to towards term million loan. million For

extending cash publications in will guide fundamentals the to in SaaS sell on directory business. when It's internationally. This expect in Looking impact and the economics our quarter of the costs, more both existing revenue back forward XX months publications flow be fourth is of to to quarters, for quarter will of accounting, an on revenue creates be here our on business will of of call. lengthening Marketing Services timing are Investor our and customers. artifact only XXXX, disadvantage from less, color the impact business make other you of our Services our nonlinearity we would life Day up advisers of the forward the timing and in unit in lengthening no this in April, enhances our U.S. look full visibility we the the unfortunately. have At print print for time, to this the recognition lives providing time XXXX. life frees reflected underlying to just announced the considerably The us saves that to we the this relative year months. improve where these third XX more We that we and Advantages it helps directory Marketing to

So stay tuned.

the Joe. turn call I'll back to Now over

Joseph Walsh

lot That's things directors for out XX-month directory less a helps coming Thank friendly. Paul. environmentally ESG. The is you, good with really It frequently. us. of are important. does It innovation The us

and fine. add. of our be They something don't us their from they're everywhere. contracts us, them run small running Internet as part and what important of of It listings to directories to think really an climates. Yellow insulates the customers like it's going have their like able That's utility they print just work been on Pages XX advertising, in view it ups directories economic Our these in business why out very years, downs our long business. And in and found as with an average, keeps

more that's want and gigantic focused It's of We we're I Canada. running part some for So for that tool about. like allows is and of they them it particularly ThryvPay for to that's is a a, in have costs to product generates gigantic, melting it to efficiently is at payment lot convenience of allows sort of business, remember, cash. away funds. characteristics business them other and a recently steady. paid iceberg, built it get fees lot; recapture our here the excited launched about which it, allows them the cash-generative a to this a just that next-day right And and on for U.S., the minute have service-based improvements cash talk of doing why like we're do in cost. in a It lower they them to businesses; in very Australia

So of fast. It's excited When about engagement over really don't it's We're cancel ThryvPay you, off of It percentage the and you a We're becoming software been popular. a represents that to huge year-over-year base, seeing our but payment platform. additional small meaningful. your volume paying growing it is coming it drives. of wildly sort tend it. XXX% growth it's the

that. pretty we're So pleased with

photos any all a and for about much-anticipated can in business people customer. they They experience that main the looking take of documents. a owner a business to the within don't is Another to great job. TeamChat within the about details can flexibility Thryv, also They get more TeamChat The need. exchange chat, details channels communicate of here the a disorganized is gives is TeamChat. contractors really their conversation can share goal area really share but can conversations almost entire the and one Staff photos, in payment that the Thryv of to It and give they to messages. of to with excited they can allows item communication, collaboration small Slack-like were or sort all mobile we're client. necessarily and They requested real-time. the small files, coordination see a collapses platform. single their for reference-link field. across the Thryv continuous and fast annotate the with for within all stuff, that ability CRM is most the a And collects There's app our features. Thryv separate no into this all workers launch

out got in power is is deal, jobs, is people this by for across in higher market out we've to a going our about a their something that's So asked lot particularly service-based the been really all of the the that at increase businesses, engagement big much, and level Anybody our communication a but this users. field, them. much that customers, about

So had announced quickly excited that off fully really end year. in been it. pilot the Marketing testing were the to to on We're to earlier extensively rolled number with Customers beginning We've sales Center wanted Marketing 'XX. start. that's be comment are that called year. it in from We've year expect teams. center the that. a launching a another about buying great revenues will I of see we Marketing And Center. We throughout the I it before of would out now in Center.

to questions. don't turn for the operator So why with that, we Operator?

Operator

from William Arjun And Bhatia [Operator with Instructions]. we first take Blair. our will question

Arjun Bhatia

from market demand is customer a obviously in in SMBs the with software. little companies lot talk we some the versus environment? second given on service-based unique, have few of how are see it, base good things the What Joe, businesses, cover are your the bit the and and last maybe But much a take Congrats We take you in within just a likely your seeing what months? being macro about some other I you hear we to results. changed differences elsewhere. there could

Joseph Walsh

Yes.

things businesses. that haven't last -- in very X, pretty these us, businesses, with small are months. two much We're For the dealing small XX typically, changed employee,

haven't and do all aren't their they they behavior. the they're and these and be to supposed are headlines, So told They changed But corporations. all read that. scared concerned

you to to effect, are results. with the but And of some above it's contact, hasn't the that really way, There we is the trickle about to to and down, listings economic And people tailwind scared taking seen and them organized. longer that calls for our We're software across want where people with want sales the talking And subscriber to from going they underway. as last gee, I've waiting it We're say, in print economy more world. the "Well, might the have growth, in just They from changed And of about directories. customers their It's a massive fine. write to any C-suites. to cloud. media see get get might double-digit They is their course, eventually continuing them. growth. matter are with happening, just it double-digit are buying numbers. efficient. more to a have updating of Yellow earnings around process are. to revenue us. We're They They be dealing cycles small -- us. to meet customers get full different great We're Pages decisions and the those than want And campaign us. our move a And regular we mom-and-pop and Internet, days, to programs about businesses their transition don't to that's continuing down the It come bouncing more beginning Arjun, and sitting crosswinds the our of haven't XXX,XXX X that largely not ordinary few want things." is a We Internet We corporate where the hasn't of elongated communicate basis that are doing in little across the We're way on them big businesses. get to C-suite. bigger We're yet. but them in concerns modern. across

weather. of our doing business Our business for kind this And well. is built is

with And entire XX-month want listing business across You to turn We managing go thing I the on virtually complicated they're mean? a know us. that to Internet. It's have you to of what out very doing listings They're customers contracts. that off. have

that's So our story.

Arjun Bhatia

in need new Perfect. No, in and "Hey, to in HQ in just headquarters a that and how And presence revenue we what the Canada think said, you progression opened to playing the Toronto. hear. you wanted just was market," you that's What I market physical then, that great -- out? then where that a touch we on about physical should did see

Joseph Walsh

have beginning I Well, we there mean, to now. develop some revenue

an have adding we're it the by is Thryv going sales now. to partnerships, And doing beginning activity long available street. that just it direct force. getting want to fashion We're on prior the build a announcements. like underway. feet and I street through these just we've on We now don't in online-only is adding time. the What getting now we're been make We're a it doing to for feet

Don't we state of this in build plank U.S. one off So just going bunch the another like go and But obviously of base. that we're tiny is kind this a 'XX in strong Canada of more for a is obviously to revenue But plan. thing. growth of very quarter. a almost really look size our expect the growth it's big out, in

not we in, So our that going the here. time countries model I it's results. us additional in unfolds is to you're you'll getting haven't And going there, acquired execute seeing massively going. anything This doing us there just as see yet. And alter us think,

Operator

And next Baird. we will Robert with take our Oliver from question

Robert Oliver

well. and for Joe, follow-up Paul, one you, for I then, you have as a

bit on So maybe I'll Joe. up Arjun's a question, follow little

are macro You seeing any guys clearly impacts. not

customers, sort here for transformation. SMB age of smaller digital golden had You

would potentially have some embedded into talk here defensiveness through be to ways you been an sustained advantage that and or are of creative the in a competitors? more your bit were there lot a versus even recession some the of a of of little to cycles You've what harvesting from more recession of impacted, resistance and your of real be be that customers ways kind of that business kind guys the if And we get might -- about career. if able zoo. In a potential other and to SMB words, the you were

Joseph Walsh

Yes.

ads. running radio Keep found consumers flight a TV. places that all the mind, Marketing your or and not on isn't Okay. in putting Services, in in a listings are guys or is these up This running sure billboard look. you're that making like This

our we're So web It's a these it's other own. over for directories. about it's don't we directories. online listings And then people. that It's that printed network the all of directories XXX managing online

lot XX even So it sign saying, turn send like off. turning stuff And the We an okay. changes?" to we only just talk it And building it months. -- a them. the to rolling. auto-renews, taking them keep and every barely be to off And No, out we would ask your "Any they update of just e-mail

this by So made ad advertising being made want them. mom-and-pop big some It's decision, way is not being an This a cuts a it's its off agency. and made that doesn't corporation that not is by to switch everybody the budget. being ad business not is by finding

other So Paul the over recessions and been team, of and -- of members number and seen we the and some yes, years the been, have of the have through thing rolls. this way I a have

things have new of customers We very important don't is a the with ton really for sell that's been business. our us of a time. long One

do. have that you opening go As a buy sell to -- in for the thing pages." can we're us that add imagine, go We a with doesn't tend XX-year-old been And let's very a business mature that's yellow long main they time. customers "Let's have new the up an say,

lot. of they and And out go to business in so tend a don't

to day, and in about about lot and other them spending the with their business, leads. and talking modernizing just blessed to so the to that, that that ready SaaS I SaaS of think complain And last ordinary year online highlighted to have. And now companies, to business. to our every we're course. they efficiency, question, thousands a they're thing sales try I much the A lot and as CEOs, of thousands businesses, sources the weren't efficiency begin ready a feel are inquiries of small Google of generate peer in I is other the that how think turn talk we I you lot your

those to And to so do every are help buddy with the About and and needs just they've normal another that come are X/X about us. their to able customers. of implement, happy we X/X guys the who's year that from really in talk disorganized our changes talking to that they're some customers been from referrals bringing route

final that's and from comes are comes X/X. sales, franchise and to creating X/X all so then generation, inbound our sort multi-location way channels, of the the So resellers various that's kind to content from business motions we the of new on. And And in. our that

the some hearing honest reading and that really kind spending efficient. companies in it's drive I money at I with really growth to with that that, at whatever to as numbers, comfortable about that, lot just We're about, unit Paul and of one making And look I a were be So a I'm least, lot know you. it are work. cash we interested took having were guys. cash never of and economics things

And comfortable more we're in environment. much so this type of

Robert Oliver

are in continue great. those operations just that which spend, of levers profitability like be That's to drive exhausted? spend? pull additional with marketing guys Paul, drive able Are might found can maybe leverage is marketing pull and the to on great. Are you improved to you particular, more your levers to have in you better further in that efficiency, and your some efficiency been on it there you which showing, there ROI some point, sounds

Paul Rouse

of we're levers. never out So

the There's going on So -- business and the revenue. SaaS we to more more have be as side, grows profitability.

profitable. straight As in the for quarters two already you saw, we're U.S., this

lever. at So a never we're

So at we're finding ways costs business and always squeeze constantly looking out. the to

Operator

take we Berg our with will from Needham. Scott And next question

Scott Berg

a on guess a I've quarter. here. Congrats couple good got I

all, Center like about Joe, the talked year. be , Marketing you it end released to of in, by of looks First

looks because things it. to about web page was able find least your at like I on now, some it You're in beta right it

existing something of to back you in you net-new drive about had initial and With adoption how think solution. cross-sell to going forward? trying to base selling there, that product to you've Do anything change the that early successes or do it's sales Maybe going your have your that motion?

Joseph Walsh

question. great a It's

Marketing should is have know of Thryv have to things that have you to you One Center. the

universe the people So to that Thryv sell is we could customers. of potentially it

it Thryv. without to somebody sell couldn't You

And so we've got XX,XXX Thryv customers.

could the to. people potentially furthermore, this more So we universe than that's that sell days. have for had to you of thing have XX And Thryv

to set up, it. you in Marketing got it's before be place, So then to can running, add Center

to. we sell it can who that's So

it how the In all of terms business them, we're have a to selling of adviser record.

we're have desire can also this then starting -- some in kind which act team are be gold, get to which kind over worth a is well-run additional tech physical lets of let We marketing to put And to we be an people put they a them monetization talking driving want want we into small everything run is lawn to of having that's know weight world. everything do really of them most do in able small their the can dashboard are to jobs their that, one they're they flyers able absolutely able have And Marketing that a business, together. together. attract yet, local paper tremendous its around. that that available. it that But the good finding they something everything put these they there out be track worked. want their of or of well-organized, that, a on. signs school existing able Thryv in that If And top track an touch, PennySaver, but They at to Center out lets working want to to track track businesses. be to that that's to pull They to around where like, leave do. They and they front is in a trucks that we people CX some we customers track haven't done to in and all put ad

and that's it. we who sell So we how sell to

Scott Berg

I Marketing year, about to about just it. to year. of perspective recognize purely around bit accounting and/or models expenses the there. color revenue but revenues, the year. changes recognize you of the next gave of with period. just but next Helpful you're going follow-up treatment for to happening on on business linearity adding expect little the a Anytime there, next then decline Paul. trying from always some to the impact I And with because I third potentially of think profitability not in year, the obviously, quarter from I like a what's year. some Services metrics Got into accounting about think in the our think profitability should it's next how assume, titrate we of And those the I

Paul Rouse

Right. the now, be That's to the there's print. reason little particularly I'm in year, of third next going very quarter pointing

That's there's print, little the very with from flow detached very So cash profitability. little completely the of business.

So each that's of not up on keep It's everyone. really is bringing the quarter, of remind really billings. this the to we business health the why, The recognition the revenue.

Operator

with we And Instructions]. Cummins B. [Operator Zach will take our from question next Riley.

Zachary Cummins

again SaaS the any here kind just of to give it's in curious typically from? around segment. update in shifts you nice acquiring X/X, off, in you're starting a past. I'm see there's been of the mix channels growth months. recent X/X, Can the customers subscriber the us if double-digit just any been on I know Joe, that X/X

Joseph Walsh

mean, probably from probably coming as a decided all talking the new move it's than I the more about subtle very -- the profitability. a look, Yes. X/X we're X/X moment shift, at towards we that's little channels, to where it's less

listening. a loss are way we're mid-XXs see reacting. of guided the that. for And the the you exact markets We we've the the in I -- number, the like something know, or at but forget we beginning As year.

deliver we've decided to that. So than little less a

They're get in And easily zoo, those which costs super super, new other super out the of channels, of a can there. from that look we out our the guys little cost we're like more on bit One low. do when sales ways that is all the leaning the acquisition is efficient we there. our more

do it for was So that. us pretty to easy

new not Chief and our ability X/X, huge Marketing Officer throttle it's is have of concept X/X, that on efficient. XX%, channels ago, maybe making X/X about we going joined off. that months to better the work whiz Tami having that, X X/X, sort So more said change is us difference. that, And slightly the of a wouldn't The it's to I but is maybe way. And a all those and Cannizzaro, that yet,

I'm she's work so from now, year the will about a mean And doing. excited with that that what

Zachary Cummins

That's hold just me in macro or holding to the retention time? numbers pretty on for challenging steady steady team is be from that of Understood. updates of question of metrics. potentially over seem And a customer give pretty are improve helpful. now and midst really They them success final rest you sort the environment. can the right doing Any those point, Grant to this what the at

Joseph Walsh

I our is way product better. Yes. mean getting

Thryv going So allows we've mean increase right Thryv live is invested pain I year that engagement and subtle Google after we big the bigger that Messages, product feature improvements, really a might within some release just of what small like stuff. to points a talked businesses. where tremendously; a cool But got is the had seem massively product in like ago. engineering were release have you release to and of selling we're and but Thryv, about for and then this And there's not after we communicate same real-time We've with the people Google. X-way TeamChat sync the really within earlier. to thing Slack going they're

Google old into they the I from, first questions the were before? were were moving using what they customers sometimes is Messenger, text We're the that meetings them time. doing vanilla me or cloud where or come were the is for guys say What e-mail. they ask using they were regular, them using in private were do using unclouded. like of And most your One Joe, of they that you

to one deliver these do them them an have thread these to I ability and and X-way on text something that they kind from for keep day, messages might then Then ingest calendar them. small might they message somebody turn track to the massive next our and be other so them. able send to Then different the of Google. ways know And try in Client might your send on sync is formats Thryv that Messenger mean e-mail. might all doesn't a to in just and where unified contact somebody of business them all a Card Facebook they might

just know. never You

they it of is to things we're all do be around We big last this apps had be a of different these they refinements. a time, itemized them. the period changes make feedback to one and to place pulling They more able all small from wanted wanted invoices. businesses, so things getting in able statements, one big, And together -- kinds lot of their all in the and deal of to to

loose on team with power so estimates, cut radically improved and just And and it. that and have our invoice a met piece just users upgraded we of that

So these higher client satisfaction driving higher all and client engagement. things are

in pretty fall got not And reasons of or over it's we're so and mean it seeing better. slightly because businesses, opposed And we all is to any lot hard. shooting there. at like I here we're trying. a we've off another to so, grind trying maybe and that down. believe small It's improve to no, close We're thinking par can actually to for go renewal but We're as still product climbing. We're out getting churn rates may golf. much the time already better do

Operator

Moore question CJS from take Dan will our we next And Securities. with

Daniel Moore

the would to Maybe the EBITDA in where Paul, is just just that to at a year think artificially the about been back be Marketing and this But Services full the this Is maybe reported the situation is questions right in on QX would and bounce have clarify, 'XX, revenue most it that answered -- low point. but way of accounting, quickly, expectation 'XX. it?

Paul Rouse

rate that be decline Yes, is, is will the it business, 'XX. shrinking normalized a in normal

Daniel Moore

that incremental term? in the of that stand in look neutral you as you sizing 'XX the might be drive growth? you and any Canada, And there of Helpful. expense incur in is up initiative expect then office do relatively Perfect. Or to to short kind

Paul Rouse

We're that will but a as currently. it will be stand working There we comparatively. in Canada on be it loss small up,

Daniel Moore

thinking you call out, was on in much dollar, the quarter? recent didn't curious, impact revenue or there? just it there movements Australian in any the Got either about impact FX of it. And Just noticeable the an EBITDA

Paul Rouse

EBITDA maybe was. a $X.X Australia. on loss revenue, on about million, $XXX,XXX there for a was impact Yes, There and

Daniel Moore

on the following up then, lastly, there. retention, just Helpful. Perfect. And question

here, longer-term given towards In terms retention, to maybe see net your of slightly or macro off before you leveling move we goal dollar of start higher ticking that do uncertainty, XXX%? lower

Joseph Walsh

that a from to take straight I here XXX%. you promise Yes. the in move that Paul, want I'll line perfectly to direction XXX%, but one. up don't it will here to from will be

seeing chugging all in But direction move where is will data to Think -- our road your in like sell things our all is that not overall or experience rate the -- just I got our do things the up. But the with retention if the got to could have it hopefully, XX% with XX%. anomalies to of customer new that new just team back map, sometimes something rising. by And doing, centers, these steady, went it, things we've to just we're doing wrong math the us then from product think believe client we in head. And leads customers. that retention about that. we're we've the and keep we'll

that's people your to buying significant retention Center, through. coming pretty starts Marketing line As revenue adder that start a as net

now, up we give had like we've So small additional additional additional whatever. now, could some or sell. it's HIPAA some centers sell, to got seats compliance -- or them But until to we've full things --

mean, to actually just So bigger really really, thing going the upselling selling. a we're period than is I coming when be into

Daniel Moore

Any in on philosophy? is increasing, reduction with for a increased emphasis Last capital versus terms or delta rates change me helpful. modest Super of M&A? any interest allocation debt

Joseph Walsh

Paul?

Paul Rouse

Yes. Yes.

just, well, have quarter, we As you -- we're debt been always focused repayment focused. by can this our see

paying X commandments my about know debt. down You

you unless So paying opportunity, debt way. we're beam, that a focused where like the an down got all comes acquisition outstanding some time, our laser

best given can. we rate So interest the it's our -- interest environment, down and in that the and pay all we shareholders debt our

our So been focus. that's

Operator

back And this time. now further to the questions remarks. turn Joe will closing there no I Mr. at Walsh for call are

Joseph Walsh

your much. very sets I to the question, this debt managed year One so is cash. think built-in our about you so along cash-generative. last Appreciate in just our that X. I and as that's Vivial acquired own like I the we think kind is us Dan, of DC, last mean much Thank business it. make paydown way. a massive cash-generative, so have it's -- it's characteristic And that generating that there's apart we really

and think sales at where sales second that just with need we're as from And think, comes a efficiency have wake the just customers. the they an SaaS the environment I efficiency, are look to is a regular take people look our Because calling modernize, over what I are on model. there, line up they our doing. land. leading here, we in And concerned out realize we're we're and them into

about So into go excited start will progress making. out we're we're about to do numbers what the and getting flattering year. market excited next pretty Super the Center through that as our that we Marketing

progress early of Canada is in rocking. market have October, we in great. broken one That month the Our in believe, is now just is Australia, where U.S. regions, -- into -- it's I the Australia the region. up

for in the Australia in just the October. all month the I beat region think regions U.S., of that one

really thing starting figured get to hit out. So really I to mean, starting their stride, they're this

is go we add next just these Marie at and we're to Energizer Caron into as keep additional And as about more looking So countries running building international Bunny, going. the expansion there's the come things, we opportunities. excited around, the year expansion.

that. a read on headlines we we us. and all So But the yes, excited where we're And business. about really we think all it's are as

we We We customers. us. them are for come to and don't where out business a these wait go see in see

one lot prepared have control big we're over work a so problem a at we're to But comes, if the little And and harder not destiny. And our we facing of any moment. execute.

you soon. We We for look really it. appreciate everybody, you, updating thank So your really, time. again forward to

Operator

this today's thank participation. your for And you conference call. and ladies gentlemen, And we concludes

disconnect. now may You

Thryv (THRY) 6 Nov 222022 Q3 Earnings call transcript