Thryv Holdings Earnings Call Transcripts
Fiscal Year 2026
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Corrected summary: A new AI-powered growth platform was launched, helping small businesses optimize digital marketing, track ROI, and manage leads with transparency and flexibility. Early users report significant revenue and lead growth, seamless onboarding, flexible add-ons, and integration with existing tools. Strategic partnerships and a data-driven approach support broad market adoption.
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SaaS revenue grew to $114.5M in Q2 2026, with ARPU up 12% year-over-year and SaaS now 76% of total revenue. The new AI-native Thryv Growth Platform launched, supported by strategic partnerships and integrations, while restructuring aims for $60M in savings.
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The meeting confirmed a quorum, elected two directors for three-year terms, ratified the auditor, and approved executive compensation. Shareholders could submit questions, with answers to be provided online after the meeting.
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SaaS revenue grew 5% year-over-year to $117M, now 70% of total revenue, with strong AI adoption and a 30% increase in Marketing Center. Guidance for full-year SaaS revenue was raised, and the business expects to return to top-line growth by 2027.
Fiscal Year 2025
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SaaS revenue grew 34% year-over-year with strong margins, driven by the Marketing Center and a focus on quality customers. The unified, AI-powered platform launches in 2026, with conservative near-term guidance as the business transitions from legacy services.
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SaaS revenue rose 33% year over year, driven by product innovation, AI integration, and a strategic shift from legacy Marketing Services. Vertical solutions and upmarket focus are boosting ARPU and retention, while guidance for both SaaS and Marketing Services was raised.
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Q2 saw 48% SaaS revenue growth, record margins, and improved leverage as the business exited its financial pinch point. New vertical and payroll products launched, with ARPU and multi-product adoption rising. Guidance for SaaS and Marketing Services was raised for the year.
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Transitioning from legacy print to SaaS, the business now generates most revenue from software, with strong growth, expanding product offerings, and a successful Keap acquisition. Cash flow is robust, with plans to sunset print by 2028 and focus on upmarket SMBs and operational efficiency.
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Q1 2025 saw strong revenue and margin growth, with SaaS now the majority of revenue and net revenue retention at a record 103%. Guidance for the year remains conservative due to macro uncertainty, but customer resilience and expansion within the base are driving results.
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A former Yellow Pages business has transformed into a high-margin SaaS provider for SMBs, focusing on growth through product innovation, cross-sell, and a three-pronged go-to-market strategy. The company targets 100% NRR and aims for the SaaS rule of 40, with new products and automation driving expansion.
Fiscal Year 2024
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Q4 and full-year results exceeded guidance, with SaaS revenue up 41% year-over-year and strong subscriber growth. Keap acquisition contributed to revenue and synergies, while 2025 guidance projects continued SaaS momentum and a strategic shift away from Marketing Services.
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A decade-long transformation is nearing completion as the company shifts to a SaaS platform, driven by the Keap acquisition, expanded product suite, and strong cross-sell potential. Financial guidance targets 20% annual growth, 80% gross margins, and $1 billion in SaaS revenue by decade’s end.
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SaaS revenue grew 29% year-over-year with strong margin expansion, driven by accelerated client migration and upsell strategies. The Keap acquisition adds 15,000 customers, expands engineering capacity, and opens new growth channels. Full-year SaaS guidance was raised, and the company remains focused on margin and retention improvement.
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SaaS revenue and subscribers grew strongly year-over-year, with gross margin and EBITDA margins reaching record highs. The transition from Marketing Services to SaaS is accelerating, supported by new AI features and product centers, while ARPU is expected to recover in the second half.
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A legacy print business has successfully pivoted to a profitable SaaS model for small businesses, leveraging deep customer relationships and a modular platform strategy. SaaS revenue is set to surpass 50% next year, with international growth and product-led expansion as key levers.