Thryv Holdings, Inc.

Listed Company

THRYCIK 0001556739NasdaqAcceleratedServices-AdvertisingDelawareFY ends Dec 31

Period

FY 2025

Revenue

$785.01M

Net Income

$307.0K

Total Assets

$688.59M

Equity

$218.14M

Shares Out

44.35M

Op. Cash Flow

$63.53M

Business

Thryv Holdings, Inc. provides cloud-based software and marketing solutions to local independent service-based businesses and emerging franchises. It offers an all-in-one SaaS small business management platform (Thryv Platform) including Business Center, Marketing Center, Command Center, ThryvPay, Thryv Add-Ons and Keap Automations, plus print and digital marketing services such as directories, Internet Yellow Pages, search engine marketing, display and social advertising. Operations are organized into two reportable segments: Thryv SaaS and Thryv Marketing Services. Thryv serves SMBs primarily in the United States and select international markets through inside and outside sales, channel partners and digital campaigns.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	785	824	917	1,202	1,113
Cost of services	252	287	339	422	408
Gross profit	533	537	578	780	705
Sales and marketing	226	254	288	362	358
Research and development	39	16	13	—	—
General and administrative	211	217	209	216	154
Impairment charges	0	83	269	—	—
Total operating expenses	476	571	778	681	515
Operating income (loss)	57	−33	−200	99	190
Interest expense, nonoperating	−35	−47	−62	−60	—
Net periodic pension (cost) benefit	−9	25	3	45	15
Other income (expense)	4	−11	−2	15	−4
Income (loss) before income tax (expense) benefit	17	−66	−261	99	134
Income tax (expense) benefit	−17	−8	1	−45	−33
Net income (loss)	307,000	−74	−259	54	102
Foreign currency translation adjustment, net of tax	−570,000	250,000	1	−8	−8
Comprehensive loss	−263,000	−74	−258	46	94
Basic (in USD per share)	0.01	−2	−7.47	1.58	3.02
Diluted (in USD per share)	0.01	−2	−7.47	1.49	2.78
Basic (in shares)	44	37	35	34	34
Diluted (in shares)	44	37	35	37	36

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	11	16	18	16	11
Accounts receivable, net of allowance of $13,830 in 2025 and $13,051 in 2024	136	162	206	285	279
Contract assets, net of allowance of $2 in 2025 and $29 in 2024	411,000	2	3	3	5
Taxes receivable	8	6	3	12	15
Prepaid expenses	11	14	18	25	22
Deferred costs	12	8	17	10	—
Other current assets	679,000	2	3	2	14
Total current assets	179	211	267	378	371
Fixed assets and capitalized software, net	51	44	—	—	—
Goodwill	254	253	302	566	672
Intangible assets, net	26	34	19	35	83
Deferred tax assets	133	143	128	114	91
Other assets	46	26	28	43	34
Total assets	689	712	783	1,178	1,301
Accounts payable	10	13	10	19	9
Accrued liabilities	91	95	106	127	132
Current portion of unrecognized tax benefits	28	26	24	32	30
Contract liabilities	29	40	45	42	52
Other current liabilities	4	8	8	11	15
Total current liabilities	180	196	263	300	307
ABL Facility	25	24	49	55	40
Pension obligations, net	44	38	69	73	140
Other liabilities	11	10	19	23	35
Total long-term liabilities	291	319	367	495	679
Commitments and contingencies (see Note 15)	—	—	—	—	—
Common stock - $0.01 par value, 250,000,000 shares authorized; 72,002,129 shares issued and 43,815,268 shares outstanding at December 31, 2025; and 70,556,740 shares issued and 43,033,960 shares outstanding at December 31, 2024	720,000	706,000	627,000	613,000	608,000
Additional paid-in capital	1,303	1,272	1,151	1,106	1,084
Treasury stock - 28,186,861 shares at December 31, 2025 and 27,522,780 shares at December 31, 2024	−498	−489	−486	−469	−469
Accumulated other comprehensive loss	−16	−15	−15	−16	−8
Accumulated deficit	−572	−572	−498	−239	−293
Total stockholders' equity	218	197	153	382	315
Total liabilities and stockholders' equity	689	712	783	1,178	1,301

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	39	53	63	88	105
Amortization of deferred commissions	15	18	15	12	12
Amortization of debt issuance costs	3	4	5	6	5
Deferred income taxes	11	−5	−13	−15	−20
Provision for credit losses and service credits	18	23	25	26	19
Stock-based compensation expense	25	24	22	15	8
Net periodic pension cost (benefit)	9	−25	−3	−45	−15
(Gain) loss on foreign currency exchange rates	−4	4	600,000	−2	745,000
Loss on early extinguishment of debt	0	7	0	0	3
Loss from the remeasurement of the indemnification asset	0	0	11	−2	−1,000
Other, net	416,000	−3	0	−2	−2
Accounts receivable	−10	23	54	−5	74
Contract assets	2	782,000	−326,000	3	6
Prepaid expenses, deferred costs, and other assets	−15	1	7	−10	−6
Accounts payable and accrued liabilities	−13	−27	−38	−41	−126
Contract liabilities	−12	−9	1	—	8
Other liabilities	−6	−8	−12	−27	4
Net cash provided by operating activities	64	90	148	149	171
Additions to fixed assets and capitalized software	−32	−34	−33	−29	−27
Acquisition of a business, net of cash acquired	−143,000	−77	−9	−23	−175
Other	0	0	−225,000	0	−1
Net cash used in investing activities	−33	−110	−43	−52	−197
Principal payments on finance lease obligation	−934,000	0	0	—	−11
Debt issuance costs	0	−5	0	0	—
Repurchases of common stock	−5	−499,000	0	0	0
Proceeds from exercise of stock warrants	0	0	16	64,000	14
Proceeds from common stock offering, net of offering expenses	0	87	0	0	—
Other	1	7	6	7	−7
Net cash (used in) provided by financing activities	−38	19	−103	−91	39
Effect of exchange rate changes on cash, cash equivalents and restricted cash	587,000	−1	133,000	−827,000	−2
(Decrease) increase in cash, cash equivalents and restricted cash	−7	−3	2	5	11
Cash paid for interest	32	44	57	57	67
Cash paid for income taxes, net	5	15	9	58	64
Repurchase of Treasury stock as a result of the settlement of the indemnification asset	0	0	16	0	0

Filings

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