Thryv Grows SaaS Revenue in First Quarter 2026, Exceeds Total Company Revenue and EBITDA Guidance
Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®, the leading small business marketing and sales software platform, reported results for the first quarter...
- Q1 SaaS Revenue Grows to 70% of Total Revenue
- Q1 Marketing Center Revenue Growth of 29% Year-Over-Year
- Q1 SaaS Monthly ARPU Increases 13% Year-Over-Year to $378
- AI Delivering for Clients - Rapid Adoption Across New Platform Features
DALLAS: Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®, the leading small business marketing and sales software platform, reported results for the first quarter of 2026.
First Quarter Financial 2026 Highlights:
- SaaS revenue was $116.7 million, a 5.0% increase year-over-year
- Marketing Services revenue was $50.9 million, a 27.5% decrease year-over-year
- Consolidated total revenue was $167.7 million, a decrease of 7.5% year-over-year
- Consolidated net income increased to $4.5 million, or $0.10 per diluted share; compared to net loss of $9.6 million, or $(0.22) per diluted share, for the first quarter of 2025
- Consolidated Adjusted EBITDA was $24.1 million, representing an Adjusted EBITDA margin of 14.4%
- SaaS Adjusted EBITDA was $10.8 million, representing an Adjusted EBITDA margin of 9.3%
- Marketing Services Adjusted EBITDA was $13.2 million, representing an Adjusted EBITDA margin of 26.0%
- Consolidated Gross Profit was $109.3 million
- Consolidated Adjusted Gross Profit1 was $112.9 million
- SaaS Gross Profit was $75.6 million, representing a Gross Margin of 64.8%
- SaaS Adjusted Gross Profit1 was $78.2 million, representing an Adjusted Gross Margin of 67.0%
Recent Business Highlights and Metrics
- Quality customers2 (defined as those contributing more than $400 in monthly recurring revenue) accounted for 70% of SaaS revenue2 in the first quarter of 2026
- SaaS clients were 96 thousand at the end of the first quarter of 2026
- Seasoned Net Revenue Retention3 was 93% for the first quarter of 2026
- SaaS monthly Average Revenue per Unit (“ARPU”)4 was $378 for the first quarter of 2026, an increase of 12.8% year-over-year
- Marketing Center revenue increased 29% year-over-year in the first quarter of 2026
"We delivered a strong start to 2026, with SaaS revenue exceeding our guidance and now representing 70% of total revenue," said Joe Walsh, Thryv Chairman and CEO. "Our upmarket motion is clearly working, as ARPU grew 13% year-over-year and Quality Customers now represent 70% of our SaaS revenue. We are expanding beyond our legacy client base, and are attracting larger small businesses with Marketing Center, engaging them at a higher level, and encouraging them to spend more - driving ARPU upward."
Outlook
Based on information available as of April 30, 2026, Thryv is issuing guidance5 for the second quarter of 2026 and full year 2026 as indicated below:
|
| 2nd Quarter |
| Full Year |
(in millions) |
| 2026 |
| 2026 |
SaaS Revenue |
| $114 - $115 |
| $463 - $471 |
SaaS Adjusted EBITDA6 |
| $12 - $13 |
| $70 - $75 |
|
| 2nd Quarter |
| 3rd Quarter |
| 4th Quarter |
| Full Year |
(in millions) |
| 2026 |
| 2026 |
| 2026 |
| 2026 |
Marketing Services Revenue |
| $31 - $33 |
| $33 - $35 |
| $42 - $44 |
| $157 - $163 |
Marketing Services Adjusted EBITDA6 |
| $3 - $4 |
|
|
|
|
| $30 - $35 |
Earnings Conference Call Information
Thryv will host a conference call on Thursday, April 30, 2026 at 8:30 a.m. (Eastern Time) to discuss the Company's first 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 Income (loss) | |||||||
| Three Months Ended | ||||||
| March 31, | ||||||
(in thousands, except share and per share data) |
| 2026 |
|
|
| 2025 |
|
Revenue | $ | 167,684 |
|
| $ | 181,371 |
|
Cost of services |
| 58,428 |
|
|
| 62,083 |
|
Gross profit |
| 109,256 |
|
|
| 119,288 |
|
|
|
|
| ||||
Operating expenses: |
|
|
| ||||
Sales and marketing |
| 47,948 |
|
|
| 59,842 |
|
Research and development |
| 11,431 |
|
|
| 10,209 |
|
General and administrative |
| 45,819 |
|
|
| 52,271 |
|
Total operating expenses |
| 105,198 |
|
|
| 122,322 |
|
|
|
|
| ||||
Operating income (loss) |
| 4,058 |
|
|
| (3,034 | ) |
Other income (expense): |
|
|
| ||||
Interest expense |
| (4,141 | ) |
|
| (6,067 | ) |
Interest expense, related party |
| (2,466 | ) |
|
| (3,006 | ) |
Net periodic pension cost |
| (345 | ) |
|
| (768 | ) |
Other income |
| 1,433 |
|
|
| 392 |
|
Loss before income tax benefit |
| (1,461 | ) |
|
| (12,483 | ) |
Income tax benefit |
| 6,003 |
|
|
| 2,865 |
|
Net income (loss) | $ | 4,542 |
|
| $ | (9,618 | ) |
Other comprehensive loss: |
|
|
| ||||
Foreign currency translation adjustment, net of tax |
| (395 | ) |
|
| (187 | ) |
Comprehensive income (loss) | $ | 4,147 |
|
| $ | (9,805 | ) |
|
|
|
| ||||
Net income (loss) per common share: |
|
|
| ||||
Basic | $ | 0.10 |
|
| $ | (0.22 | ) |
Diluted | $ | 0.10 |
|
| $ | (0.22 | ) |
|
|
|
| ||||
Weighted-average shares used in computing basic and diluted net income (loss) per common share: |
|
|
| ||||
Basic |
| 44,207,794 |
|
|
| 43,412,366 |
|
Diluted |
| 45,246,486 |
|
|
| 43,412,366 |
|
Thryv Holdings, Inc. and Subsidiaries Consolidated Balance Sheets | |||||||
(in thousands, except share data) | March 31, 2026 |
| December 31, 2025 | ||||
Assets |
|
|
| ||||
Current assets |
|
|
| ||||
Cash and cash equivalents | $ | 7,952 |
|
| $ | 10,752 |
|
Accounts receivable, net of allowance of $14,381 in 2026 and $13,830 in 2025 |
| 147,083 |
|
|
| 136,394 |
|
Contract assets, net of allowance of $2 in 2026 and $2 in 2025 |
| 433 |
|
|
| 411 |
|
Taxes receivable |
| 22,710 |
|
|
| 8,134 |
|
Prepaid expenses |
| 14,459 |
|
|
| 10,939 |
|
Deferred costs |
| 7,472 |
|
|
| 11,548 |
|
Other current assets |
| 643 |
|
|
| 679 |
|
Total current assets |
| 200,752 |
|
|
| 178,857 |
|
Fixed assets and capitalized software, net |
| 50,101 |
|
|
| 50,885 |
|
Goodwill |
| 253,809 |
|
|
| 253,809 |
|
Intangible assets, net |
| 24,471 |
|
|
| 25,929 |
|
Deferred tax assets |
| 120,238 |
|
|
| 133,221 |
|
Other assets |
| 44,367 |
|
|
| 45,886 |
|
Total assets | $ | 693,738 |
|
| $ | 688,587 |
|
|
|
|
| ||||
Liabilities and Stockholders' Equity |
|
|
| ||||
Current liabilities |
|
|
| ||||
Accounts payable | $ | 10,853 |
|
| $ | 9,764 |
|
Accrued liabilities |
| 84,225 |
|
|
| 91,246 |
|
Current portion of unrecognized tax benefits |
| 1,803 |
|
|
| 28,303 |
|
Contract liabilities |
| 36,790 |
|
|
| 28,875 |
|
Current portion of Term Loan |
| 15,750 |
|
|
| 10,500 |
|
Current portion of Term Loan, related party Related news
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