<div>
  <ul>
    <li>
      <p>
        Thryv, a US-based end-to-end CRM software provider for small businesses, reported a GAAP diluted EPS of USD 0.13 in Q4 2021 (compared to the diluted EPS of USD 3.31 in Q4 2020 which had been bolstered by a significant tax reversal), above the consensus estimate of USD 0.12. For the full year 2021 (FY2021), the company reported a diluted EPS of USD 2.78 compared to a diluted EPS of USD 4.42 in FY2020.&nbsp;&nbsp;
      </p>
    </li>
    <li>
      <p>
        Thryv&rsquo;s revenue marginally dipped 1% YoY to USD 244.4 million in Q4 2021, beating analyst expectations of USD 231.6 million. Revenue from the SaaS segment, which includes the company&rsquo;s CRM platform, contributed 19.3% total revenue up 35% YoY, with average revenue per user (ARPU) increasing 19.8% YoY to USD 351 and its customer base growing by 4.5% YoY to 46,000 clients. In addition, its monthly churn rate dipped 30 basis points to 2.1%. For FY2021, Thryv reported a marginal revenue growth of 0.4% YoY to USD 1.1 billion.
      </p>
    </li>
    <li>
      <p>
        Thryv&rsquo;s GAAP gross margin improved to 61.9% in Q4 2021 (vs. 57.2% in Q4 2020), while its operating profit declined 69.8% YoY to USD 5.3 million in Q4 2021, with the operating margin contracting 490 basis points to 2.15%. In addition to the flat top-line growth, this was mainly due to a faster rise in sales and marketing expenditure (35.4% YoY growth). Adjusted EBITDA was USD 46.5 million in Q4 2021, which represents an adjusted EBITDA margin of 19%. For FY2021, the company reported an operating profit of USD 190 million (up 25% YoY) and an adjusted EBITDA of USD 350.5 million, which represents an adjusted EBITDA margin of 31.5%.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Management guidance for SaaS segment revenue for the full year FY2022 ranges between USD 206 million and USD 208 million (20%&ndash;22% YoY growth) and the revenue guidance for the marketing services segment ranges between USD 870 million and USD 890 million. Meanwhile, the SaaS EBITDA loss is estimated to range between USD 21 million and USD 25 million due to strategic investments earmarked for product development, while marketing services EBITDA is estimated to range between USD 305 million and USD 312 million.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://investor.thryv.com/news/news-details/2022/Thryv-Reports-Strong-Fourth-Quarter-and-Fiscal-Year-2021-Results-Exceeding-All-Guidance-Targets/default.aspx">
      Press release
    </a>
  </p>
  <p>
    <a href="https://investor.thryv.com/events-and-presentations/default.aspx">
      Earnings presentation
    </a>
  </p>
</div>


SME CRM

Thryv posts flat revenue growth for Q4 2021; beats consensus estimates

Helping employers provide personalized, high-touch, and holistic financial wellness tools to their entire workforce.

Financial Wellness Tools

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 <p>Marqeta, a card issuing infrastructure provider, is partnering with financial wellness platform Rain to launch the Rain Card, a branded debit card for employers to access earned wages.</p>
 <p>Rain will use Marqeta’s card issuing abilities to create a debit card aimed at reducing dependency on credit and promoting better financial management. This collaboration also provides Marqeta with an expanded product reach and growth in transaction processing volumes.</p>
 <p>Rain's customer base includes global brands like Hilton, McDonald’s, Arby’s, and Subway, and spans various industries including restaurants and hospitality, healthcare, and retail.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Marqeta also launched a <a href="https:<br>
//sp-edge.com/updates/23011"> credit card-issuing platform </a> supporting consumer and commercial credit programs in October last year. This partnership follows nearly two months after <a href="https:<br>
//sp-edge.com/companies/999264"> Rain </a> secured USD 300 million via a <a href="https:<br>
//sp-edge.com/updates/27208"> credit facility </a> to expand product offerings, which also marks the highest amount in funding raised for the year by a disruptor in the financial wellness space.</p>

Marqeta announces partnership with Rain to launch Rain Card

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

<div>
 
 <p>Card issuing infrastructure provider, Marqeta, has teamed up with Rain, a financial support and wellness platform for employers. They are launching the Rain Card, a branded debit card that enables employers to access earned wages instantly.</p>
 <p>With this partnership, Rain aims to utilize Marqeta's card issuing abilities to launch a branded debit card. This debit card offers users access to their earned wages, encouraging less reliance on credit and better financial management. Marqeta, on the other hand, enjoys broader product reach and increased transaction processing volumes due to this collaboration.</p>
 <p>Among Rain's current clientele are global brands such as Hilton, McDonald’s, Arby’s, and Subway, spanning various industries like restaurants and hospitality, healthcare, and retail.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Marqeta also launched a <a href="https:<br>
//sp-edge.com/updates/23011"> credit card-issuing platform </a> supporting consumer and commercial credit programs in October last year. This partnership follows nearly two months after <a href="https:<br>
//sp-edge.com/companies/999264"> Rain </a> secured USD 300 million via a <a href="https:<br>
//sp-edge.com/updates/27208"> credit facility </a> to expand product offerings, which also marks the highest amount in funding raised for the year by a disruptor in the financial wellness space.</p>

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

<div>

 <p>UK-based aerospace technology firm, Evolito Ltd, has hired Marcus Holme as its new CTO. Holme, who has a Master's degree in power electronics and 24 years of aviation experience, will lead the technology development and focus on the axial-flux e-motor and propulsion product family of Evolito. He previously served as senior director of engineering at Collins Aerospace, where he dealt with multiple aircraft system electrification programs.&nbsp;</p>
 <p>Evolito, a company established in 2021, specializes in axial-flux electric motors, power electronics, and battery solutions for aerospace applications. In December 2023, Evolito received the UK Civil Aviation Authority's Design Organisation Approval (DOA) for its electric propulsion system products. The firm partners with numerous OEMs to create motors and propulsion systems for eVTOL, urban air mobility, and fixed-wing applications.</p>

</div>

Evolito appoints Marcus Holme as CTO to transform air travel

Technology to explore opportunities beyond Earth

Space Travel and Exploration Tech

<div>
 
 <p>Orbex, a space launch firm based in the UK, has secured around USD 20.77 million financing in a round led by SNIB, Octopus Ventures, BGF, and Heartcore, as well as EIFO and several corporate and individual investors. The raised funds will be used to further progress the development of Orbex's small satellite launch rocket. After testing and commencing launches, Orbex aims to initiate a Series D funding round to ensure long-term sustainability.</p>
 
</div>

Orbex raises GBP 16.7 million to advance development of rocket

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

INCUMBENTS_PRESENT

<div>

 <p>Reka, an AI startup, has established a partnership with Oracle Cloud Infrastructure to create AI models for individuals and commercial enterprises. This relationship allows Reka's multimodal models that support more than 20 languages to be trained on Oracle, powered by NVIDIA GPUs. Furthermore, this collaboration makes Reka's models available in the Oracle Cloud Marketplace.</p>

</div>

Reka partners with Oracle to advance GenAI models

Foundation Models

<div>

<p>AI startup Reka has formed a partnership with Oracle Cloud Infrastructure to develop AI models for both individuals and commercial enterprises. This cooperation will allow Reka’s multimodal models, which support more than 20 languages, to be trained using Oracle's NVIDIA GPUs. Furthermore, Reka’s models will also be accessible in the Oracle Cloud Marketplace as a result of this partnership.</p>

</div> <p><b>Analyst QuickTake</b> :<br>
 This partnership comes after the company’s recent launch of <a href="https:<br>
//sp-edge.com/updates/28508"> Core </a> , a frontier-class multimodal language model, this month, and <a href="https:<br>
//sp-edge.com/updates/26584"> Reka Flash </a> , a multimodal and multilingual language model, in February.&nbsp;</p>

<div>
 
 <p>Stability AI, who developed the Stable Diffusion text-to-image AI, has reported a 10% staff layoff, which equates to 20 staff members.</p>
 <p>The company says this move is strategic for cost reduction, improving investor and partner relations, and enhancing the development and release of its products.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This news comes amid a period of instability for the company, as its <a href="https:<br>
//sp-edge.com/updates/27872"> CEO and founder, Emad Mostaque, resigned </a> from his role and the company's board last month, along with other key personnel. However, the company has been expanding its product portfolio as it launched several models recently, including <a href="https:<br>
//sp-edge.com/updates/28305"> Stable LM 2 12B </a> in April, <a href="https:<br>
//sp-edge.com/updates/27695"> Stable Video 3D </a> in March, and <a href="https:<br>
//sp-edge.com/updates/26910"> Stable Diffusion 3 </a> , which was made available on the <a href="https:<br>
//sp-edge.com/updates/28612"> Stability AI developer platform API </a> this month.</p>

Stability AI lays off 10% of workforce in strategic restructuring plan

<div>
 
 <p>Meta has launched a new AI assistant, Meta AI, based on Llama 3 technology. This feature is accessible on various platforms such as Facebook, Instagram, WhatsApp, and Messenger in several countries including Australia, Canada, Ghana, Jamaica, Malawi, New Zealand, Nigeria, Pakistan, Singapore, South Africa, Uganda, Zambia, and Zimbabwe.</p>
 <p>This technology offers users the ability to personalize recommendations, access real-time information, and perform searches across these platforms. It also includes an innovative "Imagine" feature that can generate images from text inputs and provide suggestions for enhancement.</p>
 
</div>

Meta introduces Meta AI assistant built on Llama 3

Making banking work, without the paperwork

Neobanks

<div>

<p>Grasshopper, a neobank for small to medium businesses, has launched an online application for Small Business Administration (SBA) loans, enabling eligible business owners to get pre-qualified in under 10 minutes.</p>
<p>The digital application is a feature of Grasshopper's business checking account that also offers corporate cards, accounting tools, and productivity software via its partner marketplace.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> An SBA loan is a type of business loan that is guaranteed by the US SBA. These loans are designed to help small businesses access the kind of funding that larger businesses can obtain more easily, with low interest rates and long repayment terms.</p>

Grasshopper introduces digital applications for SBA loans

A decentralized version of the web powered by the blockchain

Web3 Ecosystem

<div>
 <p>Blockchain interoperability developer, Union Labs, has formed a partnership with Polygon for integrating its solutions with Polygon's AggLayer. This integration is expected to boost liquidity between AggLayer-connected chains and IBC-enabled chains, thus creating a process which is trustless, efficient, and has low latency.</p>
</div>

All Updates

Marqeta announces partnership with Rain to launch Rain Card

Marqeta announces partnership with Rain to launch Rain Card

Evolito appoints Marcus Holme as CTO to transform air travel

Orbex raises GBP 16.7 million to advance development of rocket

Reka partners with Oracle to advance GenAI models

Reka partners with Oracle to advance GenAI models

Stability AI lays off 10% of workforce in strategic restructuring plan

Meta introduces Meta AI assistant built on Llama 3

Grasshopper introduces digital applications for SBA loans

Union Labs plans to integrate with AggLayer for blockchain interoperability and liquidity sharing