DexYP® Announces Fourth Quarter and Full Year 2018 Financial Results
Summary
“Our flagship product Thryv continues to lead the industry by helping small business owners manage their appointments, communicate with clients, and get paid.” (a), (b) Print $ 199,368 $ 251,654 $ (52,287 ) -20.8 % $ 876,890 $ 1,128,029 $ (251,139 ) -22.3 % Thryv 28,559 23,177 5,382 23.2 % 107,252 74,420 32,832 44.1 % Thryv Leads 3,246 - 3,246 NM 4,819 - 4,819 NM IYP 88,879 108,711 (19,831 ) -18.2 % 389,330 449,484 (60,154 ) -13.4 % Presence 29,972 39,790 (9,819 ) -24.7 % 137,362 217,140 (79,778 ) -36.7 % SEM 70,555 97,891 (27,336 ) -27.9 % 315,685 429,826 (114,141 ) -26.6 % Other Revenue 3,000 2,140 860 40.2 % 10,039 9,807 232 2.4 % Total Pro Forma Net Revenue$423,579$523,364$(99,784)-19.1%$1,841,378$2,308,706$(467,328)-20.2% Variable Expenses 105,730 154,289 (48,559 ) -31.5 % 528,282 689,975 (161,693 ) -23.4 % Variable Profit$317,850$369,075$(51,225) -13.9 % $1,313,096$1,618,731$(305,635) -18.9 % Variable Margin75.0%70.5%71.3%70.1% Total Direct Expenses 113,451 190,536 (77,085 ) -40.5 % 482,805 801,703 (318,898 ) -39.8 % Direct Profit$204,399$178,539$25,860 14.5 % $830,291$817,027$13,263 1.6 % Total Direct Margin 48.3 % 34.1 % 45.1%35.4% Indirect Overhead 60,315 52,221 8,094 15.5 % 243,786 250,748 (6,962 ) -2.8 % Adjusted Pro Forma EBITDA(a), (c)$144,084$126,318$17,76614.1%$586,505$566,280$20,2253.6% Adjusted Pro Forma EBITDA Margin %34.0%24.1%9.9%31.9%24.5%7.3% Free Cash Flow(a), (d), (e)$100,228$67,295$32,93348.9%$319,632$236,971$82,66134.9%Net Debt The financial information accompanying this release provides a reconciliation of GAAP to non-GAAP and adjusted pro forma non-GAAP results. These include building a digital customer list, communicating with customers via email and text, updating business listings across the internet, accepting appointments, sending notifications and reminders, managing ratings and reviews, generating estimates and invoices, processing payments, and issuing invoices and coupons. With respect to the acquisition, important factors could cause actual results to differ materially from those indicated by forward-looking statements and projections included herein, including, but not limited to: the risk that anticipated cost savings, growth opportunities and other financial and operating benefits as a result of the transaction may not be realized or may take longer to realize than expected, the risk that benefits from the transaction may be significantly offset by costs incurred in integrating the companies, including, coordinating geographically separate organizations, integrating business cultures, which could prove to be incompatible, difficulties and costs of integrating information technology systems; and the potential difficulty in retaining key officers and personnel.