Thryv Holdings, Inc. THRY
Thryv is a software-led platform company focused on enabling small and medium-sized businesses ("SMBs") to run and grow their businesses more efficiently with artificial intelligence ("AI") tools and automations. Our strategy is centered on delivering a unified, extensible SaaS platform that supports customer acquisition, engagement, operations, and retention across the SMB lifecycle.
As of December 31, 2025, we serve approximately 230,000 SMB clients through our two business segments: SaaS and Marketing Services. SaaS represents the strategic growth engine of the Company. Marketing Services is our legacy segment that we are actively managing and exiting as part of a multi-year transition to a pure SaaS business model.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- International
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| United States | $659.4M | $686.3M | $764.1M |
| International | $125.6M | $137.8M | $152.8M |
As the company reported it, from the “Segment Information - Schedule of Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $785.0M | $824.2M | $917.0M | $1.20B | $1.11B | $1.11B | $1.42B | $1.78B | — | $1.81B |
| Cost of revenue | $252.3M | $286.9M | $338.7M | $422.0M | $408.0M | $439.7M | $581.3M | — | — | $576.0M |
| Gross profit | $532.7M | $537.2M | $578.2M | $780.4M | $705.3M | $669.7M | $840.1M | — | — | $1.24B |
| R&D | $39.1M | $15.7M | $12.7M | — | — | — | — | — | — | — |
| SG&A | $211.2M | $217.3M | $208.9M | $216.4M | $153.9M | $177.6M | $196.5M | $238.6M | — | $164.0M |
| Total operating expenses | $476.0M | $570.5M | $778.3M | $681.1M | $515.3M | $517.7M | $634.0M | $1.62B | — | $1.82B |
| Operating income | $56.7M | -$33.3M | -$200.0M | $99.3M | $190.0M | $152.0M | $206.1M | $162.3M | — | -$4.0M |
| Interest expense | $34.8M | $46.8M | $61.7M | $60.4M | $66.4M | $68.5M | $93.0M | $82.7M | — | $356.0M |
| Pre-tax income | $17.0M | -$66.0M | -$260.5M | $99.0M | $134.3M | $41.2M | $53.6M | $60.8M | — | -$358.0M |
| Income tax | $16.7M | $8.2M | $1.2M | $44.6M | $32.7M | $108.0M | $18.1M | $8.5M | — | $13.0M |
| Net income | $307.0K | -$74.2M | -$259.3M | $54.3M | $101.6M | $149.2M | $35.5M | $52.3M | — | -$371.0M |
| EPS, basic | 0.01 | -2.00 | -7.47 | 1.58 | 3.02 | 4.73 | 0.87 | 0.91 | — | — |
| EPS, diluted | 0.01 | -2.00 | -7.47 | 1.49 | 2.78 | 4.42 | 0.82 | 0.88 | — | -21.43 |
| Shares, diluted (wtd. avg.) | 44.5M | 37.1M | 34.7M | 36.5M | 36.5M | 33.8M | 43.5M | 59.6M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.8M | $16.3M | $20.5M | $18.2M | $13.6M | $2.4M | $1.9M | $34.2M | $2.0M | $171.0M |
| Receivables | $136.4M | $161.6M | $205.5M | $284.7M | $279.1M | $296.6M | $369.7M | — | — | $151.0M |
| Total current assets | $178.9M | $210.7M | $266.9M | $378.3M | $370.6M | $369.7M | $478.6M | — | — | $497.0M |
| Property, plant and equipment | — | $44.5M | $38.6M | $42.3M | $50.9M | $89.0M | $101.5M | — | — | $64.0M |
| Goodwill | $253.8M | $253.3M | $302.4M | $566.0M | $671.9M | $609.5M | $609.5M | $609.5M | — | $315.0M |
| Other intangibles | $25.9M | $34.3M | $18.8M | $34.7M | $82.6M | $31.8M | $147.5M | $312.2M | — | $794.0M |
| Total assets | $688.6M | $712.2M | $783.2M | $1.18B | $1.30B | $1.21B | $1.39B | — | — | $1.72B |
| Accounts payable | $9.8M | $13.0M | $10.3M | $19.0M | $8.6M | $8.9M | $16.1M | — | — | $14.0M |
| Short-term debt | $17.5M | $13.1M | $70.0M | $70.0M | $70.0M | $0 | — | — | — | $124.0M |
| Total current liabilities | $179.6M | $196.3M | $263.2M | $300.5M | $307.1M | $207.4M | $257.4M | — | — | $404.0M |
| Long-term debt | $236.0M | $271.2M | $278.9M | $399.8M | $492.5M | $528.4M | $714.4M | — | — | $2.27B |
| Retained earnings | -$572.1M | -$572.4M | -$498.2M | -$238.9M | -$293.3M | -$394.8M | -$544.1M | — | — | -$2.59B |
| Total equity | $218.1M | $196.9M | $152.7M | $382.3M | $314.7M | $196.8M | $27.3M | $428.3M | $213.6M | -$1.12B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $63.5M | $89.8M | $148.2M | $148.6M | $170.6M | $232.8M | $270.6M | $347.1M | — | $388.0M |
| Depreciation and amortisation | $31.1M | $36.8M | $37.8M | $36.9M | $33.3M | $30.9M | $39.9M | $267.0M | — | $643.0M |
| Stock-based compensation | $25.2M | $24.1M | $22.2M | $14.6M | $8.1M | -$2.9M | $14.1M | $39.6M | — | $4.0M |
| Capital expenditure | $32.4M | $33.5M | $33.4M | $29.2M | $26.8M | $27.8M | $26.1M | $27.4M | — | $18.0M |
| Investing cash flow | -$32.5M | -$110.4M | -$42.5M | -$52.0M | -$196.6M | -$26.2M | -$25.4M | -$28.7M | — | -$5.0M |
| Financing cash flow | -$38.5M | $19.2M | -$103.5M | -$91.1M | $39.1M | -$206.1M | -$277.5M | -$286.3M | — | -$368.0M |
| Buybacks | $5.0M | $499.0K | $0 | $0 | $0 | $30.6M | $12.6M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001556739-26-000029.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2014 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.81B | — | $1.78B | $1.42B | $1.11B | $1.11B | $1.20B | $917.0M | $824.2M | $785.0M |
| Gross profit | $1.24B | — | — | $840.1M | $669.7M | $705.3M | $780.4M | $578.2M | $537.2M | $532.7M |
| Net income | -$371.0M | — | $52.3M | $35.5M | $149.2M | $101.6M | $54.3M | -$259.3M | -$74.2M | $307.0K |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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