Thryv Holdings, Inc. Earnings Recaps
Q3 2025
Nov 1, 2025
Thryv Holdings reported steady growth in Q3 2025, driven by strong performance in its Marketing Center product and ongoing enhancements to AI capabilities, positioning the company well for the upcoming year.
Key takeaways
- SaaS revenue reflects solid integration performance between Thryv and Keap, despite initial challenges with partner satisfaction.
- The Marketing Center has become the company's fastest-selling product, crucial for small businesses seeking effective marketing solutions.
- Significant advancements in AI tools are being rolled out, streamlining marketing efforts and operational efficiency for small businesses.
- The recent Grow Conference highlighted strong interest from new customers and confirmed the company’s strategic focus on marketing and AI-driven solutions.
- Thryv is confident in its ability to meet partner needs, fostering better relationships and enhancing their service offerings.
Q2 2025
Aug 1, 2025
Thryv Holdings reported strong Q2 2025 results, achieving 48% year-over-year SaaS revenue growth and demonstrating improved financial health as it transitions towards a more profitable software-focused business model.
Key takeaways
- SaaS revenue reached $115 million, exceeding guidance, driven by a 25% increase in Thryv's core business excluding Keep's contribution of $17.7 million.
- Adjusted EBITDA margins for SaaS expanded to a record 20%, highlighting operational efficiency improvements while maintaining over 100% net revenue retention at 103%.
- ARPU increased across all segments, with overall SaaS ARPU rising to $352 and a focus on boosting spend among existing high-value clients.
- The company effectively reduced net debt by $24 million to $274 million, successfully decreasing its leverage ratio to 2.2x, setting the stage for future free cash flow and strategic flexibility.
- Marketing Services revenue was $95.5 million, with an adjusted EBITDA margin of 29%, as the company progresses towards exiting legacy services by 2028.