What is the revenue and EPS growth rate for Thryv Holdings year over year?

What were the key takeaways from Thryv Holdings's earnings call?

What is Thryv Holdings's gross profit margin?

What is the market's earnings forecast for Thryv Holdings next quarter?

Did Thryv Holdings beat or miss consensus estimates last quarter?

What guidance did Thryv Holdings's management provide for the next earnings period?

What does Thryv Holdings do and what are its main business segments?

What factors drove the changes in Thryv Holdings's revenue and profit?

- **SaaS Growth Acceleration**: 34% YoY SaaS revenue growth driven by Marketing Center (50%+ YoY) and AI-powered platform integration.
- **Quality Customer Focus**: 69% of revenue from ≥$400/month customers (up 9pts YoY), with 18% YoY growth in this segment.
- **AI-Driven Efficiency**: Platform uses AI to automate lead scoring, follow-ups, and customer journey management, reducing time-to-value for small businesses.
- **2026 Outlook**: Moderate SaaS growth (0-2%) reflects strategic shift to higher-quality, lower-churn customer base. Free cash flow to grow 33% YoY.

**【CEO Summary Section】**
- **SaaS Growth and Platform Integration**: CEO Joe Walsh highlighted 34% YoY SaaS revenue growth, driven by the Marketing Center (growing >50% YoY). The new Thryv platform unifies Marketing Center and Keap, targeting small businesses needing end-to-end growth solutions. AI is embedded to reduce effort and accelerate value.
- **Customer Segmentation**: Focus on quality customers spending ≥$400/month, who now account for 69% of revenue (up from 60% YoY). These customers have higher retention (94% NRR), expansion potential, and lower churn risk. Legacy smaller customers (e.g., <$200/month) are being upgraded or allowed to churn to improve growth quality.
- **2026 Outlook**: SaaS revenue guidance of $461-471M reflects moderate growth as the company transitions to a pure-play SaaS model. Free cash flow expected to grow to $40-50M in 2026.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: SaaS revenue $119M (14.1% QoQ), ARPU $373 (15% YoY), and SaaS EBITDA margin 16.8%. Full-year SaaS revenue $461M (34.2% YoY). Marketing Services revenue $324M (down 34% YoY as legacy upgrades continue).
- **2026 Guidance**: SaaS revenue $461-471M, SaaS EBITDA $70-75M. Marketing Services expected to decline to $150-160M as the company exits by 2028. Free cash flow to grow to $40-50M.
- **Balance Sheet**: Net debt reduced to $251M (1.7x leverage ratio).

Thryv Holdings, Inc.(THRY)-20260226-2025 Q4 Earnings call transcript

- **AI-Driven Growth**: HVAC vertical initiative boosted revenue by 25%, with plans to expand into home services. AI tools like call analysis and website builders enhance customer engagement.
- **Financial Performance**: Q3 SaaS revenue $115.9M (+33% YoY), adjusted EBITDA $19.6M (17% margin). Full-year SaaS revenue guidance $440M-$463M.
- **Upmarket Strategy**: Focus on $400+/month clients (77% of base) with 12% churn vs. 25% for lower-tier, driving ARPU to $355 (Thryv) and $437 (Keap).
- **Answer Engine Optimization**: 54,000 optimized websites and AI-driven AEO improve visibility, with 27-lead success stories.
- **AI Acceleration**: New CTO Sean Wechter integrates AI across products, improving development speed and third-party CRM integrations.

**【CEO Summary Section】**
- **Business Transformation Update**: CEO Joe Walsh highlighted progress in integrating AI into the company's software, including features like social captioning and review response automation. The HVAC vertical initiative showed a 10% lift in jobs booked and 25% revenue growth, with plans to expand into home services.
- **Partner Satisfaction**: Improved partner portal updates and API integrations led to higher partner morale, with feedback indicating better alignment with their needs.
- **AI Integration**: AI tools such as call analysis and website builders are enhancing customer experience and operational efficiency, with examples like a dentist receiving 27 leads via automated call transcripts.
- **Upmarket Strategy**: Focus on customers spending $400+/month, who exhibit lower churn and higher ARPU, driving ARPU growth to $355 for Thryv and $437 for Keap.

**【CFO Financial Commentary】**
- **Q3 2025 Results**: SaaS revenue of $115.9M (+33% YoY), adjusted EBITDA of $19.6M (17% margin), and 103,000 SaaS subscribers (7% YoY growth). Thryv ARPU reached $65, with 17,000 multi-product clients (+20% YoY).
- **Legacy Transition**: Marketing Services revenue declined 33% YoY as clients migrated to SaaS, but adjusted EBITDA of $21.2M (25% margin) reflects strategic focus on pure-play software.
- **Guidance Update**: Full-year SaaS revenue $440M-$463M, adjusted EBITDA $73M-$75M, and Marketing Services revenue $323M-$325M.

**【Q&A Highlights】**
- **Answer Engines**: Thryv leverages Answer engines to enhance visibility, with 54,000 optimized websites and AI-driven answer engine optimization (AEO).
- **ARPU Growth**: Emphasis on multi-product adoption and upmarket sales, with field sales targeting $6,000/month clients, driving ARPU from $4,000 to $8,000.
- **AI Innovation**: New CTO Sean Wechter is accelerating AI development, improving product road map efficiency and integrations with third-party CRMs.
- **Customer Quality**: 77% of clients spend $400+/month, with 12% churn vs. 25% for lower-tier clients, supporting sustainable growth.


Thryv Holdings, Inc. (THRY) Q3 2025 Earnings Call Transcript

- **Financial turnaround achieved**: Eliminated $24M in debt, leverage ratio drops to 2.2x, enabling free cash flow allocation.
- **Strong SaaS growth**: 48% YoY revenue, 20% EBITDA margin, ARPU at $4,200 (targeting $8,000 by 2030).
- **Vertical success**: HVAC product drives 103% NRR, 19% of clients now use multiple products, 15% centers per client.
- **Product innovation**: Workforce Center reduces churn, Marketing Center leverages legacy assets for data-driven marketing.
- **Future focus**: Vertical expansion, channel diversification, and potential share buybacks post-debt reduction.

**【CEO Summary Section】**
- **Overcame financial pinch point**: Completed amortization payments, reducing leverage ratio to 2.2x and enabling free cash flow allocation.
- **Rule of 40 performance**: 20% EBITDA margin and 20% growth, with ARPU rising to $4,200 annually (targeting $8,000 by 2030).
- **Product expansion**: Launched Thryv for HVAC (vertical automation solution) and Workforce Center (payroll tool), driving NRR to 103%.
- **Vertical strategy**: Focusing on high-value verticals like HVAC, leveraging Keep's automation tools to upsell and reduce churn.
- **Customer engagement**: 19% of clients now use multiple SaaS products, with centers per client growing from 10% to 15% YoY.

**【CFO Financial Commentary】**
- **Q2 financials**: SaaS revenue $115M (48% YoY), Adjusted EBITDA $23.4M (20% margin). Keep contributed $17.7M, Thryv SaaS grew 22% YoY.
- **Marketing Services**: Revenue $95.5M (29% margin), billings down 38% YoY as legacy systems transition to SaaS.
- **Debt reduction**: Net debt down $24M to $274M, eliminating 2 years of amortization payments ahead of schedule.
- **Guidance update**: Full-year SaaS revenue $460-465M, EBITDA $70.5-73.5M, Marketing Services EBITDA $78.5-80.5M.

**【Q&A Highlights】**
- **Vertical impact**: HVAC product adds $100-200/month per client, ARPU boost expected. Verticalization to expand to other high-penetration verticals.
- **Keep performance**: Softness in demand gen sales due to unprofitable economics, but strong cross-sell into Thryv base.
- **Cash flow flexibility**: Post-pinch point, considering share buybacks and channel investments, with focus on deleveraging.
- **Marketing Center**: Leverages Yellow Pages network for data-driven marketing, early success in lead generation and retention.
- **Future growth**: 2026 plans include free trials, partner channel expansion, and agency automation tools.


Thryv Holdings, Inc. (THRY) Q2 2025 Earnings Call Transcript

- **50% YoY SaaS Growth**: Led by 24% organic growth, SaaS now 61% of total revenue.
- **103% NRR Record**: Driven by multi-product adoption (17.2% of customers use 2+ products).
- **$335 ARPU**: Thryv customers spending 33% more YoY, Keap ARPU $428/month.
- **Resilient Customer Base**: 90% of customers in non-discretionary services, 100+ Keap partners seeing cross-selling opportunities.
- **Conservative Guidance**: 2025 SaaS EBITDA margin target 15%, with focus on disciplined cost management.

**【CEO Opening Remarks】**
- Q1 2025 revenue grew 50% YoY, with 24% organic growth excluding Keap acquisition. SaaS revenue now 61% of total, marking a major milestone in the transition to a fully SaaS model.
- ARPU increased to $335/month, up from $320/month last quarter. Net revenue retention (NRR) reached 103%, driven by cross-selling and expansion within existing customers.
- Subscriber growth of 37% brings total to 96,000 (111,000 including Keap). ARPU for Keap customers is $428/month, reflecting higher value in the middle/funnel automation segment.

**【Grant Freeman - Sales Strategy】**
- Shifted focus from new customer acquisition to expanding spend within existing base. Reps now manage larger books of business with tools to increase MRR through consultative selling.
- 17.2% of SaaS subscribers now use multiple paid products, up from 12% last year. Churn rate for multi-product customers is half that of single-product users.
- Introduced Keap Automation, which complements Thryv's top-of-funnel marketing tools to create a complete customer journey solution.

**【Paul Rouse - Financial Highlights】
- SaaS revenue: $111.1M (50% YoY growth). Excluding Keap, Thryv SaaS grew 24% YoY. Adjusted EBITDA margin expanded to 10%.
- Marketing Services revenue: $70.2M (above guidance). Billings declined 42% YoY as legacy customers migrate to SaaS.
- ARPU trends: Thryv $320/month, Keap $428/month. Expect continued ARPU expansion through cross-selling.
- Seasoned NRR: 103% (highest on record). 16,000 customers now use 2+ Thryv products (vs. 12,000 last year).
- 2025 Outlook: SaaS revenue $460.5M-$471M. SaaS EBITDA margin target 15%.

**【Q&A Key Takeaways】**
- **Customer Resilience**: 90% of customers are non-discretionary (e.g., home repair, healthcare). ARPU growth in Marketing Center add-ons (+$1.2M in traffic costs) shows small businesses are investing in lead generation despite macro fears.
- **Keap Integration**: 100+ partners attended Partnerkon, excited about combining Thryv's top-of-funnel tools with Keap's automation. Cross-selling pipeline is strong.
- **Guidance Caution**: Reduced 2025 SaaS growth target by ~5% to account for potential macroeconomic risks, despite Q1 beating all metrics.
- **Debt Management**: Net debt $298M (2.2x EBITDA). Expect deleveraging in H2 as print directory costs shift back to Marketing Services.


Thryv Holdings, Inc. (THRY) Q1 2025 Earnings Call Transcript

- **SaaS dominance accelerates**: Q4 SaaS revenue ($104.3M) up 41% YoY, with Keap contributing $13.4M in first 2 months. Full-year SaaS EBITDA ($162.4M) and gross margin (72%) highlight profitability.
- **Key metrics beat targets**: 98% NRR near 100% target, 76% gross margin, and $17.3M EBITDA (vs. $12M guidance).
- **Cross-sell momentum**: $5M EBITDA synergies expected in 2025, with cross-sell pipeline leveraging Keap's 15,000 customers.
- **Product innovation**: Reporting Center (PLG), AI review responses, and Keap's faster automation builder drive engagement and upselling.
- **2025 outlook**: SaaS revenue ($464.5M-$474M) and EBITDA ($69.5M-$71M) reflect 35%-38% Thryv growth, with Keap contributing $75M-$78M.
- **Debt management**: $279M net debt (1.63x leverage), with $78.8M repayments in 2024 and continued deleveraging in 2025.


**【CEO Summary Section】**
- Total SaaS revenue for Q4 2024 was $104.3 million, up 41% YoY, with Thryv SaaS growing 23% YoY and Keap contributing $13.4 million in its first two months. Full-year SaaS revenue reached $343.5 million, up 30% YoY.
- SaaS adjusted gross margin expanded to 76% (Q4) and 72% (full year), up 620 basis points YoY. SaaS EBITDA was $17.3 million, exceeding guidance by $5 million, marking the second consecutive quarter of Rule of 40 compliance.
- Subscribers reached 114,000 (99,000 for Thryv alone), with ARPU of $324 (Thryv: $313, Keap: $424). NRR was 98%, near the long-term target of 100%.
- Key product updates include Reporting Center (PLG motion), AI review responses in Business and Marketing Centers, and Keap improvements like a 66% faster automation builder.
- Cross-sell opportunities with Keap are expected to generate $5 million in incremental EBITDA synergies in 2025, with broader revenue potential over the next 2-3 years.

**【CFO Financial Commentary】**
- Full-year consolidated adjusted EBITDA was $162.4 million (16% margin), with SaaS contributing $69.5 million to $71 million in 2025 guidance. Marketing Services revenue is expected to decline to $310-$314 million in 2025 as legacy systems are decommissioned.
- Net debt decreased to $279 million (1.63x leverage), with $78.8 million in debt repayments in 2024. Prepayments will continue in 2025, targeting deleveraging by year-end.
- 2025 SaaS revenue guidance: $464.5-$474 million (35%-38% Thryv growth), with Keap contributing $75-$78 million. SaaS EBITDA margin is expected to remain at 15%.

**【Q&A Highlights】**
- **Cross-sell progress**: Early cross-sell wins with Keap customers, with $5 million of EBITDA synergies expected in 2025. Sales teams are being trained to leverage Keap's automation tools for Thryv clients.
- **ARPU trajectory**: Sequential ARPU growth in Q4 2024 signals a focus on upselling and engagement. 2025 will prioritize land-and-expand strategies to drive ARPU growth.
- **Go-to-market evolution**: The Keap acquisition added 1,000 partners, enhancing the ability to sell to slightly larger businesses (e.g., 8-employee firms). Workforce Center (time tracking/payroll) is expected to launch in 2025.
- **Macro environment**: Small businesses remain cautious about inflation and tariffs, but Thryv's results are driven by execution rather than macro sentiment.
- **Long-term roadmap**: SaaS EBITDA to exceed Marketing Services in 2026, with overall revenue growth resuming in 2027 as the platform matures.


Thryv (THRY)-27 Feb 25-2024 Q4 Earnings call transcript

Thryv (THRY)-7 Nov 24-2024 Q3 Earnings call transcript

Thryv (THRY)-1 Aug 24-2024 Q2 Earnings call transcript

Thryv (THRY)-2 May 24-2024 Q1 Earnings call transcript

- **SaaS growth acceleration**: 22% YoY SaaS revenue ($264M) with 70% gross margin in Q4, up 690bps YoY. 
- **Client migration success**: 96% Q4 NDR (500bps YoY improvement), 20%+ legacy marketing services billings decline driven by SaaS upgrades. 
- **2024 outlook**: SaaS revenue $325-328M (23-24% growth), EBITDA $26-29M (8-9% margin). 
- **Strategic shift**: Transitioning 20%+ of legacy clients annually to SaaS, with no incremental cost in many cases. 
- **Free cash flow**: $115M for full year, $34M in Q4, with $120M debt reduction.

**【CEO Opening Remarks】**
- Full year 2023 SaaS revenue: $264 million (22% YoY growth), with SaaS adjusted EBITDA of $12 million (5% margin). Q4 SaaS gross margin improved to 70%, up from 64% in Q3. Net dollar retention (NDR) reached 96% in Q4, up 500bps YoY. 
- Transitioning legacy marketing services clients to SaaS platform: 20% annual decline in marketing services billings expected as clients migrate to higher-margin SaaS products like Marketing Center and Command Center. 
- 2024 growth lever: accelerating client upgrades from legacy digital products to Thryv platform, with no additional cost in many cases. 

**【President Grant Freeman’s SaaS Strategy Update】**
- 2024 legacy client upgrade plan: transitioning clients to Business Center, Marketing Center, and Command Center. Marketing Center adoption accelerating due to adjacency with legacy digital marketing services. 
- Freemium Command Center offering: attracting new users who may convert to paid plans. 
- SaaS subscriber base: 66,000 at end of Q4 (27% YoY growth). Seasoned ARPU (customers >1 year) growing mid-teens YoY. 

**【CFO Paul Rouse’s Financial Highlights】**
- Q4 SaaS revenue: $74 million (25% YoY growth). Full year SaaS revenue: $263.7 million (22% YoY). 
- Q4 SaaS adjusted EBITDA: $6.5 million (8.8% margin). Full year SaaS EBITDA: $12 million (4.6% margin). 
- 2024 guidance: SaaS revenue $325-328 million (23-24% growth), SaaS EBITDA $26-29 million (8-9% margin). 
- Marketing services revenue: $162.2 million in Q4 (23% YoY billings decline). Full year marketing services EBITDA: $175.5 million (27% margin). 
- Free cash flow: $34 million in Q4, $115 million for full year. Debt reduced by $120 million in 2023. 

**【Q&A Highlights】**
- **Client migration**: 20% annual decline in marketing services billings expected as clients upgrade to SaaS. Marketing Center adoption rate >50% among legacy clients. 
- **ARPU dynamics**: New customers signing up at lower price points due to product-led growth (e.g., Command Center freemium). Seasoned ARPU growing mid-teens YoY. 
- **M&A strategy**: No active SaaS acquisitions due to current valuation and credit constraints. Focus on organic SaaS growth. 
- **International expansion**: Australia/New Zealand market profitable, Canada greenfield initiative progressing. International EBITDA neutral in 2024, positive in 2025+.

Actual	3.31	1.1	0.66	0.95	0.13	0.88	1.61	0.37	-1.47	0.25	0.43	-0.78	-7.39	0.22	0.15	-2.65	0.19	-0.22	0.31	0.13	-0.22
Forecast	0.26	1.07	1.226	0.52	-0.118	0.656	0.872	0.424	0.346	0.292	0.578	-0.6862	0.4011	0.404	0.452	-0.0767	-0.152	-0.14	0.2909	0.254	0.176
Surprise	+1173.08%	+2.80%	-46.17%	+82.69%	+210.17%	+34.15%	+84.63%	-12.74%	-524.86%	-14.38%	-25.61%	-13.67%	-1942.43%	-45.54%	-66.81%	-3355.02%	+225.00%	-57.14%	+6.57%	-48.82%	-225.00%

THRY

THRY fundamentals

THRY Q4 2025 Earnings

Earnings Call

You can ask Aime

THRY

THRY fundamentals

THRY Q4 2025 Earnings

Earnings Call

THRY Earnings Call Summary for Q4/20258:30 AM on Feb 26, 2026

THRY Earnings Call Summary for Q3/20258:30 AM on Oct 30, 2025

THRY Earnings Call Summary for Q2/20258:30 AM on Jul 30, 2025

THRY Earnings Call Summary for Q1/20258:30 AM on May 1, 2025

THRY Earnings Call Summary for Q4/20248:30 AM on Feb 27, 2025

You can ask Aime