Thryv Holdings Earnings Call Transcripts
Fiscal Year 2026
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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 grew 33% year over year, driven by product innovation, AI integration, and a shift to higher-value clients. Marketing Services revenue declined as planned, with the company on track to become a pure-play SaaS business by 2028. ARPU and multi-product adoption are rising.
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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 EBITDA growth, with SaaS now the majority of revenue and record net revenue retention at 103%. Guidance remains conservative due to macro uncertainty, but customer demand and product expansion are robust, especially following the Keap integration.
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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 and margins exceeded expectations, driven by accelerated migration from Marketing Services and strong multi-center adoption. The Keap acquisition adds scale, partner reach, and international expansion opportunities, with synergies expected to drive future growth.
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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.