Thryv Holdings Inc
thryv.comWhat Do They Do?
Sells software that helps small and medium-sized businesses market themselves, manage customer relationships and run business operations. Also sells print and digital advertising services to small and medium-sized businesses.
10-K for FY2025, filed Feb 26, 2026Thryv is a software-led platform company focused on enabling small and medium-sized businesses (“SMBs”) to run and grow their businesses…View ↗
Our SaaS platform (or “Thryv Platform”) is designed for active daily use by business owners and operators. Customers engage directly with…View ↗
SaaS, which includes our unified SMB marketing platform, supporting software solutions, related extensions, payment solutions, and…View ↗
Our Marketing Services segment provides legacy print and digital marketing solutions. During the year ended December 31, 2024, we made a…View ↗
Internet Yellow Pages. Our digital marketing solutions (“Digital”) include our proprietary Internet Yellow Pages (“IYPs”) and Extended…View ↗
How Do They Make Money?
Customers pay recurring subscriptions for Thryv's software, with some fees tied to inquiry volume; Marketing Services earns from print and digital ads, with local clients paying monthly and representatives paying for larger advertisers when ads publish. Depending on product, payment is due at order or within 20 to 30 days of invoice.
10-K for FY2025, filed Feb 26, 2026Our subscription offerings are sold on a recurring basis and are designed to scale with the growth and complexity of our customers’…View ↗
publication cycle in Australia, and an 18-month publication cycle in New Zealand. We generate revenue by charging for advertisements placed…View ↗
Internet Yellow Pages. Our digital marketing solutions (“Digital”) include our proprietary Internet Yellow Pages (“IYPs”) and Extended…View ↗
Approximately 86% of Marketing Services revenue in all periods presented was derived from sales to local SMBs that operate in limited…View ↗
The remaining approximately 14% of Marketing Services revenue in all periods presented was derived from the sale of marketing services to…View ↗
The Company accounts for a contract with a client when approval and commitment from all parties is obtained, the rights of the parties and…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by reportable segment ↗
$785M
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10-K for FY2025, filed Feb 26, 2026
$785M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
SaaS
Mix
10-K for FY2025, filed Feb 26, 2026 |
59%
FY2022: 18%
|
SaaS, FY2025
$461M Sources
|
Mix |
|
Marketing Services
Recurring
10-K for FY2025, filed Feb 26, 2026 |
41%
FY2022: 82%
|
Marketing Services, FY2025
$324M Sources
|
Recurring |
Who Are Their Customers?
Small and medium-sized businesses use the software themselves, while Thryv reaches them through direct sales, partners and self-service sign-ups. Local businesses buy print and digital ads; marketing representatives buy on behalf of larger regional or national advertisers.
10-K for FY2025, filed Feb 26, 2026Our SaaS platform (or “Thryv Platform”) is designed for active daily use by business owners and operators. Customers engage directly with…View ↗
We utilize a hybrid go-to-market approach that includes direct sales, partners, and self-service acquisition. Our strategy emphasizes…View ↗
We reach our clients utilizing a multi-channel sales approach that allows us to meet market demand through an extensive inside and outside…View ↗
Approximately 86% of Marketing Services revenue in all periods presented was derived from sales to local SMBs that operate in limited…View ↗
The remaining approximately 14% of Marketing Services revenue in all periods presented was derived from the sale of marketing services to…View ↗
Do Revenues Turn Into Profits?
Yes. It kept less than a cent of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
$56.7MView ↗
10-K for FY2025, filed Feb 26, 2026
$307KView ↗
10-K for FY2025, filed Feb 26, 2026
$31.1MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
−$16.7MView ↗
- ▼ Now a loss
- vs $13.9M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
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Sep 12, 2026
Agreed to sell directory assets
Thryv agreed to sell Yellow and White Pages directory assets in the United States, Australia and New Zealand, including digital editions, for $142 million, subject to purchase-price adjustments.
Sources
8-K, filed Sep 14, 2026
On September 12, 2026, Thryv, Inc. (“Seller”), a wholly-owned subsidiary of Thryv Holdings, Inc. (the “Company”) entered into an Asset…View ↗
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Aug 4, 2026
Issued third-quarter and updated full-year revenue guidance
Full-year guidance put SaaS revenue at $453.0 million to $457.0 million and Marketing Services revenue at $161.0 million to $163.0 million.
Sources
8-K, filed Aug 4, 2026
3rd Quarter 4th Quarter Full Year (in millions) 2026 2026 2026 SaaS Revenue $111.0 - $112.0 $111.0 - $114.0 $453.0 - $457.0 SaaS Adjusted…View ↗
Shrinking. Revenue fell 29% in 4 years, from $1.1B in FY2021 to $785M in FY2025, about 8% a year.
Keap joins the platform
The older report listed Thryv products and Hub by Thryv in its SaaS lineup; the latest report describes Keap's CRM and automation engine as part of the Thryv Platform.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 26, 2026Our Thryv U.S. SaaS segment is comprised of Thryv, Hub By Thryv, Marketing Center, Thryv Add-ons, and ThryvPay.View ↗
Exit of legacy marketing
The older report described ongoing print and digital marketing offerings and efforts to retain those clients; the latest report says Thryv plans to end Marketing Services and directory publications.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 26, 2026Thryv U.S. Marketing ServicesView ↗
Internet Yellow Pages. Digital marketing solutions through our proprietary Internet Yellow Pages (“IYPs”), including Yellowpages.com…View ↗
In our Marketing Services business, we continue to improve the value of our solutions and leverage our extensive sales force to drive the…View ↗
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