Thryv Holdings (THRY) AI Stock Analysis

• Market Cap: $549.20M
• Dividend Yield: N/A
• Average Volume (3M): 541.82K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.40
• Revenue Growth: -13.60%
• EPS Growth: 69.70%
• Country: US
• Employees: 2,986
• Sector: Communication Services
• Sector Strength: 96
• Industry: Internet Content & Information
• EPS (TTM): 0.31
• Shares Outstanding: 43,936,290
• 10 Day Avg. Volume: 482,613
• 30 Day Avg. Volume: 541,819
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.46
• Enterprise Value/Revenue: 1.04
• Enterprise Value/Gross Profit: 1.59
• Enterprise Value/Ebitda: -71.57
• 1Y Price Target: $18.00
• Price Target Upside: 44.00% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 58 Neutral
• Price Target: $13.50 ▲(8.00% Upside)

Thryv Holdings' overall stock score is driven by strong SaaS revenue growth and improved EBITDA margins, as highlighted in the earnings call. However, financial performance challenges, including declining revenues and profitability issues, weigh heavily on the score. The technical analysis suggests a neutral trend, while valuation concerns due to ongoing losses further impact the overall score.

Positive Factors

Financial Performance

Profitability was robust, as overall EBITDA beat by $8 million, with SaaS EBITDA margin of 20% ahead of expectations of 17%.

SaaS Business Growth

Thryv reported a strong second quarter with SaaS revenue growing 25% organically, coming in at the high end of its guidance range despite headwinds in the core Keap business.

Vertical Product Strategy

Thryv announced the launch of Thryv for HVAC, a marketing solution tailored for the HVAC industry, which is expected to drive repeat business and boost brand visibility for HVAC professionals.

Negative Factors

Legacy Business Risks

Thryv’s legacy marketing services business will have its directories printed every 24 months, which could impact revenue recognition negatively.

Revenue Guidance Concerns

Shares are likely reacting to the lowered full-year software revenue guidance (cut by $3.5 million, or less than 1%), which management cut out of an abundance of caution.

Revenue Outlook

Despite the positive quarter and the guide for third-quarter SaaS revenue ahead of expectations, Thryv modestly tempered its full-year SaaS revenue outlook by about $3 million at the midpoint.

Thryv Holdings Business Overview & Revenue Model

Company Description

Thryv Holdings, Inc. is a publicly traded company that offers small to medium-sized businesses (SMBs) an end-to-end customer experience platform. The company operates primarily in the technology and software sector, providing a suite of tools to help businesses manage their customer interactions, marketing, and online presence. Thryv's core products include customer relationship management (CRM) software, marketing automation, and digital presence solutions, designed to streamline business operations and enhance customer engagement.

How the Company Makes Money

Thryv Holdings generates revenue primarily through the sale of its software-as-a-service (SaaS) solutions, which are offered on a subscription basis. This includes recurring revenue from its CRM and marketing automation tools, which businesses pay for monthly or annually. Additionally, Thryv earns money through its digital marketing services, which help businesses improve their online visibility and customer outreach. Key revenue streams include subscription fees, service fees for marketing solutions, and additional charges for premium features or custom services. Strategic partnerships with other technology providers and digital platforms also play a role in enhancing Thryv's service offerings and expanding its market reach, contributing to its overall revenue.

Thryv Holdings Financial Statement Overview

Summary

Thryv Holdings faces challenges with declining revenues and consistent losses impacting profitability. The balance sheet shows moderate risk with manageable debt levels, but reliance on liabilities and declining equity are concerning. Cash flow generation remains relatively strong, providing some operational stability.

Income Statement

Thryv Holdings has seen a significant decline in revenue over recent years, with a negative trend in revenue growth. The gross profit margin has been relatively stable, but the company struggles with negative EBIT and EBITDA margins, indicating operational inefficiencies. The consistent net losses further highlight profitability issues, reflecting challenges in cost management and revenue generation.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, suggesting a balanced approach to leveraging. However, the declining stockholders' equity and total assets over the years raise concerns about asset utilization and shareholder value. The equity ratio has decreased, indicating a reliance on liabilities for funding, which may pose risks if revenue does not stabilize.

Cash Flow

The cash flow statement reveals a stable operating cash flow, though free cash flow has fluctuated. The operating cash flow to net income ratio is strong, indicating good cash flow generation despite net losses. However, the free cash flow growth rate is inconsistent, which could affect future investment and debt servicing capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	771.90M	824.16M	916.96M	1.20B	1.11B	1.11B
Gross Profit	502.88M	537.24M	578.25M	780.38M	705.34M	742.74M
EBITDA	-11.21M	33.56M	-135.56M	247.77M	306.16M	256.30M
Net Income	-103.01M	-74.22M	-259.30M	54.35M	101.58M	149.22M
Balance Sheet
Total Assets	703.73M	712.16M	783.17M	1.18B	1.30B	1.21B
Cash, Cash Equivalents and Short-Term Investments	10.99M	16.31M	18.22M	16.03M	11.26M	2.41M
Total Debt	298.99M	294.99M	348.90M	469.81M	562.48M	583.20M
Total Liabilities	510.50M	515.25M	630.47M	795.61M	985.79M	1.02B
Stockholders Equity	193.23M	196.92M	152.70M	382.27M	314.71M	196.78M
Cash Flow
Free Cash Flow	65.25M	56.25M	114.83M	119.34M	143.72M	205.01M
Operating Cash Flow	73.86M	89.78M	148.23M	148.57M	170.57M	232.77M
Investing Cash Flow	-110.37M	-110.42M	-42.52M	-52.03M	-196.57M	-26.21M
Financing Cash Flow	33.05M	19.22M	-103.49M	-91.10M	39.09M	-206.07M

Thryv Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 12.50
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For THRY, the sentiment is Neutral. The current price of 12.5 is below the 20-day moving average (MA) of 13.06, below the 50-day MA of 12.73, and below the 200-day MA of 14.32, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 49.90 is Neutral, neither overbought nor oversold. The STOCH value of 31.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for THRY.

Thryv Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SSTK	81 Outperform	$713.38M	11.15	11.62%	6.32%	14.20%	38.92%
EVER	74 Outperform	$859.51M	18.96	34.34%	―	92.91%	―
ANGI	72 Outperform	$811.46M	15.28	5.86%	―	-15.79%	―
Sector *	60 Neutral	$46.60B	4.08	-11.26%	4.13%	1.85%	-42.71%
THRY	58 Neutral	$549.20M	―	-42.15%	―	-13.60%	69.70%
NXDR	54 Neutral	$801.63M	―	-14.27%	―	9.65%	56.50%
PODC	52 Neutral	$39.88M	―	-38.57%	―	17.74%	65.18%

Thryv Holdings Corporate Events

Thryv Holdings Reports Strong Q2 2025 SaaS Growth

In the second quarter of 2025, Thryv Holdings reported a 48% year-over-year increase in SaaS revenue, reaching $115 million, and achieved a record SaaS Adjusted EBITDA margin. Despite a 35% decline in Marketing Services revenue, the company reduced term debt by $26 million and raised its full-year 2025 Adjusted EBITDA guidance. The growth in SaaS revenue and improved financial metrics indicate a successful navigation of its SaaS transformation, positioning Thryv for greater financial flexibility and a stronger balance sheet.

Thryv Holdings Elects New Directors at Annual Meeting

At the annual meeting of stockholders on June 12, 2025, Thryv Holdings, Inc. elected two Class II directors, Ryan O’Hara and Lou Orfanos, to its Board of Directors for a three-year term. Additionally, stockholders ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for 2025, approved executive compensation on a non-binding basis, and voted to amend the company’s certificate of incorporation to adjust voting requirements for certain future amendments.