| Thursday | ||||
Thryv has announced a… Thryv has announced a "successful first three quarters of 2021, growing its number of multi-location brands including several emerging franchise concepts," the company said. Class 101, Play Crew On The Go, and Veteran's Pool Company are among the list of franchise businesses implementing Thryv to organize day-to-day operations, increase franchisee engagement, drive unit profitability and more. Thryv's Enterprise Channel Sales Director Matthew Gourgeot, said, "Our goal is to help startup and emerging franchisors optimize their organizations so they can scale faster... We're eager to see our growth and success continue throughout the year and beyond." Last year, Thryv also launched Hub by Thryv, a new management console that enables multi-location businesses to roll out the Thryv software to all locations. "This tool has been essential to helping clients like Class 101 optimize their business and streamline processes across the system, ensuring franchisees have access to the tools necessary to succeed," the company said. | ||||
| Tuesday | ||||
Thryv Holdings said that… Thryv Holdings said that it has seen "a dramatic and sustained acceleration in how small businesses are adopting and engaging with its technology." In fact, small business usage of various in-app features has grown as much as +260% throughout 2021. The company said, "Due to COVID-19, many businesses were forced to quickly adopt technology and cloud-based tools, particularly with the need for contactless payments and communication. According to a Verizon / Morning Consult study, 63% of small business decision makers now use digital tools and technology to enhance customer experiences, and 30% have implemented new technology to compensate for the current worker shortage. Thryv's year-to-date results illustrate specifically how small businesses have continued to rely on these tools." Thryv measures adoption and engagement, and reports that users are spending 28% more time in the platform YTD. Thryv is reporting these additional key indicators showing year-to-date growth: Appointment scheduling use has increased +74%; Total contacts entered into the customer relationship management tool is up +36%; Automated email marketing activity has increased +56%; Contactless document storage and sharing is up +40%; Messages sent by the business to the customer is up +24%, while messages from the consumer to the business has grown +49%. Online invoicing and payments have also seen a dramatic uptick in adoption, according to Thryv. Accounts using invoices increased +54%, year to date, and the number of invoices from those accounts has grown +95%. More businesses are sending electronic invoices, and those that do, continue to send more. Thryv has seen 21% more accounts with connected payment gateways YTD, including ThryvPay. Total online payment volume has increased 150% YTD. ThryvPay, which launched in late October 2020, quickly became the favored payment processor within Thryv. In a recent quarter, active merchants jumped +15%, with an increase in processing volume up +28%, quarter over quarter, illustrating that the existing merchants are charging more through ThryvPay. | ||||
| Over a week ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on September 23 at 1 pm hosted by B. Riley. | ||||
Thryv Holdings announced… Thryv Holdings announced the launch of a Google My Business Optimization add-on. The new feature helps small businesses get found online and chosen over their competition. With a heavy emphasis on Google integrations within its software platform, including Reserve with Google, a centralized GMB dashboard, Gmail email service and more, Thryv has grown the number of connected GMB profiles from fewer than 1,000 to more than 30,000 connected profiles in the last two years. | ||||
Virtual Meeting to be… Virtual Meeting to be held on September 23 at 1 pm hosted by B. Riley. | ||||
| Over a month ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on September 23 at 1 pm hosted by B. Riley. | ||||
Baird analyst Rob Oliver… Baird analyst Rob Oliver raised the firm's price target on Thryv Holdings to $46 from $43 and keeps an Outperform rating on the shares. The analyst expects ongoing investments in capacity to help Vroom take advantage of the ongoing shift towards online car buying. There may be additional growing pains, but on balance management appears to have a solid operating plan and should resume more consistent growth trends. | ||||
Reports Q2 revenue… Reports Q2 revenue $291.05M, consensus $287.1M. Net dollar retention improved 18 percentage points to 92% at end of the second quarter of 2021, when compared to the second quarter of 2020. "During Q2, we saw strong and continued growth in our SaaS business," said Joe Walsh, CEO and president of Thryv. "Small businesses are moving to the cloud and we are providing them the tools they need to automate and modernize their businesses. As a result of our efforts, we are seeing accelerated growth and we are raising our SaaS revenue guidance for 2021." | ||||
Baird analyst Rob Oliver… Baird analyst Rob Oliver initiated coverage of Thryv Holdings with an Outperform rating and $43 price target. | ||||
Thryv Holdings has… Thryv Holdings has expanded its offering by launching free online tools for growing small business owners. Thryv built and launched a suite of new free tools to help new start-up small businesses with the essential tools needed to run a successful business. Thryv's latest release features an easy-to-use Invoice Generator, similar to the functionality found in Thryv's subscription platform. This free tool allows business owners to input a few details, as well as their logo, and download a professional, customized invoice in just minutes. They can then email or text this invoice to their customer when requesting payment. Another free tool launched by Thryv is the Google Review Link Generator, which creates a customized link for businesses to send to customers. The tool answers the growing question many small business owners have, "What can I use to request more online reviews?" Thryv's most popular free tool is its Online Experience Scan. Since September 2019, more than 200,000 businesses have used this free scan to find out how their business scores, utilizing Thryv's proprietary client experience index. Businesses using this tool receive scores on their online presence on a scaleof 0-100, based on online listings, ratings and reviews, customer sentiment, website, social media and more. The results also include tips and guidance for improving those scores. | ||||