Thryv Reports Second Quarter 2026 Results and Launches Thryv Growth Platform
Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®, an AI-native growth platform for local service businesses, reported results for the second quarter of 20...
- Q2 SaaS Revenue Grows to 76% of Total Revenue
- Q2 SaaS Monthly ARPU Increases 12% Year-Over-Year to $394
- Company Announces Strategic Restructuring Plan to Improve Operating Efficiencies
DALLAS: Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®, an AI-native growth platform for local service businesses, reported results for the second quarter of 2026.
“Our second quarter marked another step forward in the transformation of our business, with SaaS now representing 76% of our revenue and ARPU growing 12% year-over-year,” said Joe Walsh, Thryv Chairman and CEO. “Our SaaS profile now reflects our deliberate focus on the newly launched Thryv Growth Platform, the first platform purpose-built for the small business owner with AI running underneath to turn every lead into measurable revenue. We are also announcing a restructuring plan that realigns our cost structure to focus on a SaaS operating model and extend the agentic AI capabilities embedded in Thryv's customer-facing platform. Looking ahead, we remain focused on reaccelerating the growth of our SaaS business. We are announcing today that we have partnered with Ooma and plan to establish a strategic partnership with Wix, with a shared focus on helping small businesses succeed.”
The Company expects to incur total restructuring and related charges of approximately $20 million to $25 million, approximately 10% of which has already been incurred, with approximately 40% expected to be recognized in the second half of 2026 and the remaining 50% to be recognized in 2027. Cost savings are anticipated to begin in 2027, building to approximately $55 million to $60 million in gross annualized cost savings upon completion.
“We remain focused on optimizing the Thryv Growth Platform, a unified, AI-native growth offering, concentrating investments to scale the business and expand profitability. These initiatives are expected to be accretive to Adjusted EBITDA margins in the future, while strengthening the Company's free cash flow generation,” stated Paul Rouse, Chief Financial Officer.
Second Quarter Financial 2026 Highlights:
- SaaS revenue was $114.5 million, a decrease of 0.5% year-over-year, of which Market, Sell, Grow initiatives grew 21%1 year-over-year, offset by headwinds in legacy CRM products
- Marketing Services revenue was $36.2 million
- Consolidated total revenue was $150.7 million
- Consolidated net loss was $16.7 million, or $(0.38) per diluted share; compared to net income of $13.9 million, or $0.31 per diluted share, for the second quarter of 2025
- Consolidated Adjusted EBITDA was $20.8 million, representing an Adjusted EBITDA margin of 13.8%
- SaaS Adjusted EBITDA was $13.6 million, representing an Adjusted EBITDA margin of 11.8%
- Marketing Services Adjusted EBITDA was $7.3 million, representing an Adjusted EBITDA margin of 20.0%
- Consolidated Gross Profit was $94.6 million
- Consolidated Adjusted Gross Profit2 was $99.2 million
- SaaS Gross Profit was $72.7 million, representing a Gross Margin of 63.5%
- SaaS Adjusted Gross Profit1 was $76.2 million, representing an Adjusted Gross Margin of 66.6%
Recent Business Highlights and Metrics
- Quality customers3 (defined as those contributing more than $400 in monthly recurring revenue) accounted for 72% of SaaS revenue3 in the second quarter of 2026
- SaaS clients were 95 thousand at the end of the second quarter of 2026
- Seasoned Net Revenue Retention4 was 90% for the second quarter of 2026
- SaaS monthly Average Revenue per Unit (“ARPU”)5 was $394 for the second quarter of 2026, an increase of 11.9% year-over-year
Outlook
Based on information available as of August 4, 2026, Thryv is issuing guidance6 for the third quarter of 2026 and updating full year 2026 as indicated below:
|
| 3rd Quarter |
| 4th Quarter |
| Full Year |
(in millions) |
| 2026 |
| 2026 |
| 2026 |
SaaS Revenue |
| $111.0 - $112.0 |
| $111.0 - $114.0 |
| $453.0 - $457.0 |
SaaS Adjusted EBITDA7 |
| $8.5 - $9.5 |
| $9.0 - $10.0 |
| $42.0 - $44.0 |
|
| 3rd Quarter |
| 4th Quarter |
| Full Year |
(in millions) |
| 2026 |
| 2026 |
| 2026 |
Marketing Services Revenue |
| $34.0 - $35.0 |
| $40.0 - $41.0 |
| $161.0 - $163.0 |
Marketing Services Adjusted EBITDA7 |
| $5.0 - $6.0 |
| $5.5 - $6.5 |
| $31.0 - $33.0 |
Earnings Conference Call Information
Thryv will host a conference call on Tuesday, August 4, 2026 at 8:30 a.m. (Eastern Time) to discuss the Company's second quarter 2026 results.
To listen to this conference call, please use this link. After registering, a confirmation email will be sent, including access details. We recommend registering a day in advance or at a minimum thirty minutes prior to the start of the call. A live webcast will also be available on the Investor Relations section of the Company's website at investor.thryv.com.
Thryv Holdings, Inc. and Subsidiaries Consolidated Statements of Operations and Comprehensive (loss) Income | |||||||||||||||
| Three Months Ended |
| Six Months Ended | ||||||||||||
| June 30, |
| June 30, | ||||||||||||
(in thousands, except share and per share data) |
| 2026 |
|
|
| 2025 |
|
|
| 2026 |
|
|
| 2025 |
|
Revenue | $ | 150,728 |
|
| $ | 210,470 |
|
| $ | 318,412 |
|
| $ | 391,841 |
|
Cost of services |
| 56,168 |
|
|
| 63,850 |
|
|
| 114,596 |
|
|
| 125,933 |
|
Gross profit |
| 94,560 |
|
|
| 146,620 |
|
|
| 203,816 |
|
|
| 265,908 |
|
|
|
|
|
|
|
|
| ||||||||
Operating expenses: |
|
|
|
|
|
|
| ||||||||
Sales and marketing |
| 47,038 |
|
|
| 56,063 |
|
|
| 94,986 |
|
|
| 115,905 |
|
Research and development |
| 7,509 |
|
|
| 8,661 |
|
|
| 18,940 |
|
|
| 18,870 |
|
General and administrative |
| 41,156 |
|
|
| 52,356 |
|
|
| 86,975 |
|
|
| 104,627 |
|
Total operating expenses |
| 95,703 |
|
|
| 117,080 |
|
|
| 200,901 |
|
|
| 239,402 |
|
|
|
|
|
|
|
|
| ||||||||
Operating (loss) income |
| (1,143 | ) |
|
| 29,540 |
|
|
| 2,915 |
|
|
| 26,506 |
|
Other income (expense): |
|
|
|
|
|
|
| ||||||||
Interest expense |
| (5,035 | ) |
|
| (5,981 | ) |
|
| (9,176 | ) |
|
| (12,048 | ) |
Interest expense, related party |
| (2,483 | ) |
|
| (2,971 | ) |
|
| (4,949 | ) |
|
| (5,977 | ) |
Net periodic pension cost |
| (357 | ) |
|
| (778 | ) |
|
| (702 | ) |
|
| (1,546 | ) |
Other income |
| (446 | ) |
|
| 2,557 |
|
|
| 987 |
|
|
| 2,949 |
|
(Loss) income before income tax expense |
| (9,464 | ) |
|
| 22,367 |
|
|
| (10,925 | ) |
|
| 9,884 |
|
Income tax expense |
| (7,196 | ) |
|
| (8,436 | ) |
|
| (1,193 | ) |
|
| (5,571 | ) |
Net (loss) income | $ | (16,660 | ) |
| $ | 13,931 |
|
| $ | (12,118 | ) |
| $ | 4,313 |
|
Other comprehensive loss: |
|
|
|
|
|
|
| ||||||||
Foreign currency translation adjustment, net of tax |
| (114 | ) |
|
| (72 | ) |
|
| (509 | ) |
|
| (259 | ) |
Comprehensive (loss) income | $ | (16,774 | ) |
| $ | 13,859 |
|
| $ | (12,627 | ) |
| $ | 4,054 |
|
|
|
|
|
|
|
|
| ||||||||
Net (loss) income per common share: |
|
|
|
|
|
|
| ||||||||
Basic | $ | (0.38 | ) |
| $ | 0.32 |
|
| $ | (0.27 | ) |
| $ | 0.10 |
|
Diluted | $ | (0.38 | ) |
| $ | 0.31 |
|
| $ | (0.27 | ) |
| $ | 0.10 |
|
|
|
|
|
Related news
Last NewsRSA at Cybertech Europe 2024Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for… Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurityG11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes How Austria is making its AI ecosystem growAlways keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries Sparkle and Telsy test Quantum Key Distribution in practiceSuccessfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing… Most readIntropy Announces $11 Million in Funding to Build the AI-Native Operating…AI is finally coming for one of the least glamorous, yet most essential, parts of the global economy: spare parts. Intropy, the AI-native platform automating… BigBear.ai Announces Second Quarter 2026 Results; Delivers 13% Growth,…$BBAI--BigBear.ai Holdings, Inc. (NYSE: BBAI) (“BigBear.ai” or the “Company”), a specialized defense & security technology company providing mission-ready… Mitsubishi Electric to Establish Manufacturing Facility for IT Cooling…Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will establish a new U.S. company, MEHITS US, Inc., in August to manufacture IT… Eaton Reports Record Second Quarter 2026 Results, with Strong Organic…Intelligent power management company Eaton Corporation plc (NYSE:ETN) today announced that second quarter 2026 earnings per share were $2.11. Excluding… G11 Media Networks
InnovationOpenLab is a channel of BitCity, a newspaper registered at the court of Como , 
| |||||||||||