Thryv Holdings, Inc. reported a significant decline in financial performance for the second quarter of 2026, with total revenue of $150.7 million, down 28.4% from $210.5 million in the same period last year. The company's SaaS segment generated $114.5 million, a slight decrease of 0.5%, while the Marketing Services segment saw a dramatic drop of 62% to $36.2 million. For the first half of 2026, total revenue was $318.4 million, down 18.7% from $391.8 million in the prior year. The company recorded a net loss of $16.7 million for the quarter, compared to a net income of $13.9 million in Q2 2025.

The decline in revenue was attributed primarily to a substantial decrease in Marketing Services revenue, which fell by $59.2 million due to ongoing challenges in the print media industry and a strategic shift towards transitioning clients from digital marketing services to the Thryv SaaS platform. The company successfully converted approximately 11,000 clients to its SaaS offerings, contributing $7.6 million to SaaS revenue during the first half of 2026. However, this transition also resulted in a reduction of Marketing Services clients, which decreased by 40,000, or 20%, year-over-year.

Operationally, Thryv's total client count stood at approximately 215,000 as of June 30, 2026, with 95,106 clients in the SaaS segment and 159,199 in Marketing Services. The company reported a decrease in average revenue per user (ARPU) for Marketing Services, which fell to $100 from $111, while SaaS ARPU increased to $394 from $352, indicating a shift in client spending patterns. The company also noted a restructuring initiative that incurred approximately $3.1 million in costs during the quarter, aimed at improving operational efficiency.

Looking ahead, Thryv Holdings anticipates continued challenges in the Marketing Services segment as it phases out print services by 2028. The company remains focused on expanding its SaaS offerings and enhancing client engagement through its Thryv Platform. Management expressed optimism about the potential for growth in the SaaS segment, driven by increased demand for integrated technology solutions among small and medium-sized businesses. However, the company cautioned that future performance will depend on its ability to manage client churn and effectively transition Marketing Services clients to its SaaS platform.

About Thryv Holdings, Inc.

Thryv Holdings, Inc. provides cloud-based software solutions and marketing services for small and medium-sized businesses. Its core offerings include an all-in-one SaaS platform for business management, customer relationship management, marketing automation, and payment processing, alongside print and digital marketing solutions. Serving primarily U.S. SMBs, the company leverages extensive sales channels and industry expertise to help clients attract customers, streamline operations, and compete effectively.

This description was generated via AI from an annual report. Updated about 1 year ago.

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