0001556739FALSE00015567392024-02-222024-02-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 22, 2024

THRYV HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

Delaware001-3589513-2740040
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2200 West Airfield Drive, P.O. Box 619810
D/FW Airport, TX
75261
      (Address of Principal Executive Offices)(Zip Code)
(972) 453-7000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)
Name of each exchange on which
registered
Common Stock, $0.01 par valueTHRY
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02. Results of Operations and Financial Condition.

On February 22, 2024, Thryv Holdings, Inc. (the “Company”) issued a press release announcing its earnings for the year ended December 31, 2023. This press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

The Company will hold a conference call on February 22, 2024. A copy of the investor presentation to be discussed at the conference call is being furnished as Exhibit 99.2, and is incorporated herein by reference and available on the Company’s website.

The information in Item 2.02 and Item 7.01 of this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 and Item 7.01 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit NumberDescription
99.1
99.2
104Cover Page Interactive Data File (embedded within the Inline XBRL document)






SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THRYV HOLDINGS, INC.
Date: February 22, 2024
By:/s/ Paul D. Rouse
Name: Paul D. Rouse
Title: Chief Financial Officer, Executive Vice President and Treasurer



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Exhibit 99.1
Thryv Grows SaaS Revenue 25% in Fourth Quarter 2023,
Exceeds Full Year SaaS Guidance


–Q4 SaaS Adjusted EBITDA exceeds mid-point of guidance by over $2.75 million
–NDR increases 400 bps sequentially to 96%
–Company generates strong FY operating cash flow of $148.2 million


DALLAS, February 22, 2024 – Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®, the leading small business software platform, reported SaaS revenue growth of 25% year-over-year in the fourth quarter of 2023.

“We are proud to announce robust fourth-quarter and full-year results, marking another successful year for Thryv,” said Joe Walsh, Thryv Chairman, and CEO. “We surpassed guidance on SaaS revenue growth and SaaS Adjusted EBITDA, underscoring our commitment to delivering profitable SaaS growth. Looking ahead to 2024, we plan to accelerate SaaS revenue growth and drive margin expansion by empowering our legacy digital clients to seamlessly transition to the Thryv SaaS platform, enabling them to access an advanced multi-center platform that addresses their everyday needs.”

Also today, Thryv has issued a press release outlining increasing adoption of the SaaS platform by legacy clients.

“For the fourth quarter, Thryv achieved record SaaS revenue growth of 25% year-over-year,” stated Paul Rouse, Chief Financial Officer. “Simultaneously, we delivered record SaaS Adjusted Gross profit margin of 70% and surpassed our SaaS Adjusted EBITDA guidance.” Rouse continued, “We generated strong free cash flow in 2023 which enabled us to pay down $120 million towards our term loan, exceeding expectations and further solidifying our financial position. As we move forward, our primary focus is to accelerate profitable growth in the SaaS business while maintaining a strong and healthy balance sheet.”












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Fourth Quarter 2023 Highlights:
•Total SaaS1 revenue was $74.0 million, a 25% increase year-over-year
•Total Marketing Services2 revenue was $162.2 million, a 26% decrease year-over-year
•Consolidated total revenue was $236.2 million, a decrease of 15% year-over-year
•Consolidated net loss was $257.5 million, or $(7.39) per diluted share, which includes a non-cash charge of $268.8 million, or $7.71 per diluted share, related to goodwill impairment; compared to net loss of $50.4 million, or $(1.47) per diluted share, for the fourth quarter of 2022
•Consolidated Adjusted EBITDA was $52.3 million, representing an Adjusted EBITDA margin of 22%
•Total SaaS Adjusted EBITDA was $6.5 million, representing an Adjusted EBITDA margin of 8.8%
•Total Marketing Services Adjusted EBITDA was $45.8 million, representing an Adjusted EBITDA margin of 28.2%
•Consolidated Gross Profit was $159.7 million
•Consolidated Adjusted Gross Profit3 was $165.4 million
•SaaS Gross Profit was $50.0 million
•SaaS Adjusted Gross Profit was $51.6 million, representing an Adjusted Gross Profit Margin of 70%
•Operating cash flow was $44.6 million compared to $44.4 million for the fourth quarter of 2022
•Free cash flow was $34.1 million compared to $34.5 million for the fourth quarter of 2022

Full-Year 2023 Financial Highlights:
•Total SaaS1 revenue was $263.7 million, a 21.9% increase year-over-year
•Total Marketing Services2 revenue was $653.2 million, a 33.8% decrease year-over-year
•Consolidated total revenue was $917.0 million, a decrease of 24% year-over-year
•Consolidated net loss was $259.3 million, or $(7.47) per diluted share, which includes a non-cash charge of $268.8 million related to goodwill impairment; compared to net income of $54.3 million, or $1.49 per diluted share, for last year
•Consolidated Adjusted EBITDA was $187.5 million, representing an Adjusted EBITDA margin of 20.4%
•Total SaaS Adjusted EBITDA was $12.0 million, representing an Adjusted EBITDA margin of 4.6%
•Total Marketing Services Adjusted EBITDA was $175.5 million, representing an Adjusted EBITDA margin of 26.9%
•Consolidated Gross Profit was $578.2 million
•Consolidated Adjusted Gross Profit3 was $605.8 million
•SaaS Gross Profit was $169.2 million
•SaaS Adjusted Gross Profit was $175.6 million, representing an Adjusted Gross Profit Margin of 66.6%
•Operating cash flow was $148.2 million compared to $148.6 million for the prior year
•Free cash flow was $114.8 million compared to $119.3 million for the prior year
1 Total SaaS revenue in the U.S. and International segments was $70.7 million and $3.3 million for the three months ended December 31, 2023 and $253.6 million and $10.1 million for the year ended December 31, 2023, respectively.
2 Total Marketing Services revenue in the U.S. and International segments was $132.7 million and $29.5 million for the three months ended December 31, 2023 and $510.5 million and $142.7 million for the year ended December 31, 2023, respectively.
3 Defined as Gross profit adjusted to exclude the impact of depreciation and amortization expense and stock-based compensation expense.

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SaaS Metrics
•Total SaaS clients increased 27% year-over-year to 66 thousand for the fourth quarter of 2023
•Seasoned Net Dollar Retention4 was 96% for the fourth quarter of 2023, an increase of 400 bps sequentially
•SaaS monthly active users5 was 40 thousand active users for the fourth quarter of 2023
•SaaS monthly Average Revenue per Unit (“ARPU”)6 decreased to $370 for the fourth quarter of 2023, compared to $387 in the fourth quarter of 2022
•ThryvPay total payment volume was $60 million, an increase of 54% year-over-year


Outlook
Based on information available as of February 22, 2024, Thryv is issuing guidance7 for the first quarter of 2024 and full year 2024 as indicated below:

1st QuarterFull Year
(in millions)20242024
SaaS Revenue
$73 - $74
$325 - $328
SaaS Adjusted EBITDA
$6 - $7
$26 - $29

1st Quarter2nd Quarter3rd Quarter4th QuarterFull Year
(in millions)20242024202420242024
Marketing Services Revenue
$152 - $155
$146 - $149$99 - $101$98 - $100
$495 - $505
Marketing Services Adjusted EBITDA
$132 - $135


Earnings Conference Call Information
Thryv will host a conference call on Thursday, February 22, 2024 at 8:30 a.m. (Eastern Time) to discuss the Company's fourth quarter 2023 results.

For analysts to register for this conference call, please use this link. After registering, a confirmation email will be sent, including dial-in details and a unique code for entry. We recommend registering a day in advance or at a minimum thirty minutes prior to the start of the call. To listen to the webcast, please use this link or visit Thryv's Investor Relations website at investor.thryv.com. A live webcast will also be available on the Investor Relations section of the Company's website at investor.thryv.com.

If you are unable to participate in the conference call, a replay will be available. To access the replay, please dial (800) 770-2030 or (647) 362-9199 and enter “44819.”
4 Seasoned Net Dollar Retention is defined as net dollar retention excluding clients acquired over the previous 12 months.
5 Defined as a client with one or more users who log into our SaaS solutions at least once during the calendar month.
6 Defined as total client billings for a particular month divided by the number of clients that have one or more revenue-generating solutions in that same month.
7 These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause our actual results to materially differ from these forward-looking statements.

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Thryv Holdings, Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive (Loss) Income

Three Months EndedYears Ended
December 31,December 31,
(in thousands, except share and per share data)2023202220232022
Revenue$236,163 $279,368 $916,961 $1,202,388 
Cost of services 76,453 100,463 338,714 422,006 
Gross profit159,710 178,905 578,247 780,382 
Operating expenses:
Sales and marketing73,757 86,773 300,538 362,432 
General and administrative59,238 56,892 208,880 216,406 
Impairment charges268,846 102,000 268,846 102,222 
Total operating expenses401,841 245,665 778,264 681,060 
Operating (loss) income(242,131)(66,760)(200,017)99,322 
Other income (expense):
Interest expense(13,817)(16,318)(61,728)(56,902)
Interest expense, related party— — — (3,505)
Other components of net periodic pension benefit6,607 39,317 2,719 44,612 
Other (expense) income(276)(119)(1,518)15,448 
(Loss) income before income tax (expense) benefit(249,617)(43,880)(260,544)98,975 
Income tax (expense) benefit(7,924)(6,565)1,249 (44,627)
Net (loss) income$(257,541)$(50,445)$(259,295)$54,348 
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax5,402 4,397 1,070 (8,214)
Comprehensive (loss) income$(252,139)$(46,048)$(258,225)$46,134 
Net (loss) income per common share:
Basic$(7.39)$(1.47)$(7.47)$1.58 
Diluted$(7.39)$(1.47)$(7.47)$1.49 
Weighted-average shares used in computing basic and diluted net (loss) income per common share:
Basic34,858,157 34,270,520 34,723,491 34,336,493 
Diluted34,858,157 34,270,520 34,723,491 36,506,095 



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Thryv Holdings, Inc. and Subsidiaries
Consolidated Balance Sheets
(in thousands, except share data)December 31, 2023December 31, 2022
Assets
Current assets
Cash and cash equivalents$18,216 $16,031 
Accounts receivable, net of allowance of $14,926 in 2023 and $14,766 in 2022
205,503 284,698 
Contract assets, net of allowance of $35 in 2023 and $33 in 2022
2,909 2,583 
Taxes receivable3,085 11,553 
Prepaid expenses17,771 25,092 
Indemnification asset— 26,495 
Deferred costs16,722 9,544 
Other current assets2,662 2,320 
Total current assets266,868 378,316 
Fixed assets and capitalized software, net38,599 42,334 
Goodwill302,400 566,004 
Intangible assets, net18,788 34,715 
Deferred tax assets128,051 113,859 
Other assets28,464 42,649 
Total assets$783,170 $1,177,877 
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable$10,348 $18,972 
Accrued liabilities105,903 126,810 
Current portion of unrecognized tax benefits23,979 31,919 
Contract liabilities44,558 41,854 
Current portion of long-term debt70,000 70,000 
Other current liabilities8,402 10,937 
Total current liabilities263,190 300,492 
Term Loan, net230,052 345,256 
ABL Facility48,845 54,554 
Pension obligations, net69,388 72,590 
Other liabilities18,995 22,718 
Total long-term liabilities367,280 495,118 
Commitments and contingencies
Stockholders' equity
Common stock - $0.01 par value, 250,000,000 shares authorized; 62,660,783 shares issued and 35,302,746 shares outstanding at December 31, 2023; and 61,279,379 shares issued and 34,593,837 shares outstanding at December 31, 2022
627 613 
Additional paid-in capital1,151,259 1,105,701 
Treasury stock - 27,358,037 shares at December 31, 2023 and 26,685,542 shares at December 31, 2022
(485,793)(468,879)
Accumulated other comprehensive loss(15,191)(16,261)
Accumulated deficit(498,202)(238,907)
Total stockholders' equity152,700 382,267 
Total liabilities and stockholders' equity$783,170 $1,177,877 

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Thryv Holdings, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
Years Ended December 31,
(in thousands)20232022
Cash Flows from Operating Activities
Net (loss) income$(259,295)$54,348 
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization63,251 88,392 
Amortization of deferred commissions14,954 12,110 
Amortization of debt issuance costs5,422 5,749 
Deferred income taxes(12,904)(15,119)
Provision for credit losses and service credits24,516 25,971 
Stock-based compensation expense22,201 14,628 
Other components of net periodic pension (benefit)(2,719)(44,612)
Impairment charges268,846 102,222 
Non-cash loss (gain) from the remeasurement of the indemnification asset10,734 (2,148)
Bargain purchase gain— (10,883)
Other603 (2,309)
Changes in working capital items, excluding acquisitions:
Accounts receivable54,325 (5,242)
Contract assets(326)2,764 
Prepaid expenses and other assets7,117 (9,592)
Accounts payable and accrued liabilities(37,749)(41,105)
Other liabilities(10,750)(26,601)
Net cash provided by operating activities148,226 148,573 
Cash Flows from Investing Activities
Additions to fixed assets and capitalized software(33,394)(29,233)
Acquisition of a business, net of cash acquired(8,897)(22,793)
Other(225)— 
Net cash used in investing activities(42,516)(52,026)
Cash Flows from Financing Activities
Payments of Term Loan(120,000)(104,165)
Payments of Term Loan, related party— (8,347)
Proceeds from ABL Facility919,975 976,296 
Payments of ABL Facility(925,684)(961,670)
Proceeds from exercises of stock warrants15,898 64 
Other6,318 6,725 
Net cash used in financing activities(103,493)(91,097)
Effect of exchange rate changes on cash, cash equivalents and restricted cash133 (827)
Increase in cash, cash equivalents and restricted cash2,350 4,623 
Cash, cash equivalents and restricted cash, beginning of period18,180 13,557 
Cash, cash equivalents and restricted cash, end of period$20,530 $18,180 
Supplemental Information
Cash paid for interest$57,027 $57,084 
Cash paid for income taxes, net$9,313 $58,259 
Non-cash investing and financing activities
Repurchase of Treasury stock as a result of the settlement of the indemnification asset$15,760 $— 

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The following tables summarize the operating results of the Company's reportable segments:

Three Months Ended December 31,Change
(in thousands)
2023
2022
Amount%
Revenue
Thryv U.S.
Marketing Services$132,665 $187,755 $(55,090)(29.3)%
SaaS70,652 57,938 12,714 21.9 %
Thryv International
Marketing Services29,528 32,295 (2,767)(8.6)%
SaaS3,318 1,380 1,938 140.4 %
Consolidated Revenue$236,163 $279,368 $(43,205)(15.5)%
Segment Gross Profit
Thryv U.S.
Marketing Services$88,520 $124,413 $(35,893)(28.8)%
SaaS47,183 34,944 12,239 35.0 %
Thryv International
Marketing Services21,232 18,802 2,430 12.9 %
SaaS2,775 746 2,029 NM
Consolidated Segment Gross Profit$159,710 $178,905 $(19,195)(10.7)%
Segment EBITDA
Thryv U.S.
Marketing Services$38,383 $59,758 $(21,375)(35.8)%
SaaS8,345 83 8,262 NM
Thryv International
Marketing Services7,390 10,657 (3,267)(30.7)%
SaaS(1,842)(2,305)463 20.1 %
Consolidated Adjusted EBITDA$52,276 $68,193 $(15,917)(23.3)%




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Years Ended December 31,Change
(in thousands)
2023 (1)
2022 (2)
Amount%
Revenue
Thryv U.S.
Marketing Services$510,533 $820,032 $(309,499)(37.7)%
SaaS253,579 211,801 41,778 19.7 %
Thryv International
Marketing Services142,711 166,010 (23,299)(14.0)%
SaaS10,138 4,545 5,593 123.1 %
Consolidated Revenue$916,961 $1,202,388 $(285,427)(23.7)%
Segment Gross Profit
Thryv U.S.
Marketing Services$320,327 $539,543 $(219,216)(40.6)%
SaaS161,663 130,272 31,391 24.1 %
Thryv International
Marketing Services88,730 108,496 (19,766)(18.2)%
SaaS7,527 2,071 5,456 NM
Consolidated Segment Gross Profit$578,247 $780,382 $(202,135)(25.9)%
Segment EBITDA
Thryv U.S.
Marketing Services$123,249 $271,629 $(148,380)(54.6)%
SaaS18,576 (3,686)22,262 NM
Thryv International
Marketing Services52,241 75,106 (22,865)(30.4)%
SaaS(6,551)(9,707)3,156 32.5 %
Consolidated Adjusted EBITDA$187,515 $333,342 $(145,827)(43.7)%

(1)    Thryv International includes Yellow's results of operations subsequent to the Yellow acquisition.
(2)    Thryv U.S. includes Vivial's results of operations subsequent to the Vivial acquisition.





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Non-GAAP Measures
Our results included in this press release include Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Gross Profit, which are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables below for a reconciliation of Adjusted EBITDA to Net (loss) income and Adjusted Gross Profit to Gross profit. Both Net (loss) income and Gross profit are the most comparable GAAP financial measure to Adjusted EBITDA and Adjusted Gross Profit, respectively. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue.

We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. However, it is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry.
The following is a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure, Net (loss) income:
Three Months Ended December 31,Years Ended December 31,
(in thousands)2023202220232022
Reconciliation of Adjusted EBITDA
Net (loss) income$(257,541)$(50,445)$(259,295)$54,348 
Impairment charges268,846 102,000 268,846 102,222 
Depreciation and amortization expense16,311 22,438 63,251 88,392 
Interest expense13,817 16,318 61,728 60,407 
Stock-based compensation expense (1)
5,548 4,488 22,201 14,628 
Restructuring and integration expenses (2)
1,767 3,365 14,612 17,804 
Non-cash (gain) loss from remeasurement of indemnification asset (3)
— (676)10,734 (2,148)
Transaction costs (4)
— 1,322 373 6,119 
Income tax expense (benefit)7,924 6,565 (1,249)44,627 
Other components of net periodic pension benefit (5)
(6,607)(39,317)(2,719)(44,612)
Other (6)
2,211 2,135 9,033 (8,445)
Adjusted EBITDA$52,276 $68,193 $187,515 $333,342 
(1)We record stock-based compensation expense related to the amortization of grant date fair value of the Company’s stock-based compensation awards.
(2)For the years ended December 31, 2023 and 2022, expenses relate to periodic efforts to enhance efficiencies and reduce costs, and include severance benefits, and costs associated with abandoned facilities and system consolidation.
(3)In connection with the YP acquisition, the seller indemnified us for future potential losses associated with certain federal and state tax positions taken in tax returns filed by the seller prior to the acquisition date.
(4)Expenses related to the Yellow acquisition, Vivial acquisition and other transaction costs.

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(5)Other components of net periodic pension benefit is from our non-contributory defined benefit pension plans that are currently frozen and incur no additional service costs. The most significant component of Other components of net periodic pension benefit relates to periodic mark-to-market pension remeasurement.
(6)During the year ended December 31, 2023, Other includes expenses related to the valuation of certain assets as a result of the acquisition of Thryv Australia and foreign exchange-related expense. During the year ended December 31, 2022, Other primarily represents the bargain purchase gain as a result of the Vivial acquisition, partially offset by foreign exchange-related expense.

The following tables set forth reconciliations of Adjusted Gross Profit and Adjusted Gross Margin, to their most directly comparable GAAP measures, Gross profit and Gross margin:
Three Months Ended December 31, 2023
Thryv U.S.Thryv International
(in thousands)Marketing ServicesSaaSMarketing ServicesSaaSTotal
Reconciliation of Adjusted Gross Profit
Gross profit$88,520 $47,183 $21,232 $2,775 $159,710 
Plus:
Depreciation and amortization expense2,665 1,425 1,356 150 5,596 
Stock-based compensation expense 74 43 — — 117 
Adjusted Gross Profit$91,259 $48,651 $22,588 $2,925 $165,423 
Gross Margin66.7 %66.8 %71.9 %83.6 %67.6 %
Adjusted Gross Margin68.8 %68.9 %76.5 %88.2 %70.0 %
Three Months Ended December 31, 2022
Thryv U.S.Thryv International
(in thousands)Marketing ServicesSaaSMarketing ServicesSaaSTotal
Reconciliation of Adjusted Gross Profit
Gross profit$124,413 $34,944 $18,802 $746 $178,905 
Plus:
Depreciation and amortization expense4,419 1,379 3,614 168 9,580 
Stock-based compensation expense 81 26 — — 107 
Adjusted Gross Profit$128,913 $36,349 $22,416 $914 $188,592 
Gross Margin66.3 %60.3 %58.2 %54.1 %64.0 %
Adjusted Gross Margin68.7 %62.7 %69.4 %66.2 %67.5 %

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Year Ended December 31, 2023
Thryv U.S.Thryv International
(in thousands)Marketing ServicesSaaSMarketing ServicesSaaSTotal
Reconciliation of Adjusted Gross Profit
Gross profit$320,327 $161,663 $88,730 $7,527 $578,247 
Plus:
Depreciation and amortization expense10,766 5,429 10,045 749 26,989 
Stock-based compensation expense 399 214 — — 613 
Adjusted Gross Profit$331,492 $167,306 $98,775 $8,276 $605,849 
Gross Margin62.7 %63.8 %62.2 %74.2 %63.1 %
Adjusted Gross Margin64.9 %66.0 %69.2 %81.6 %66.1 %
Year Ended December 31, 2022
Thryv U.S.Thryv International
(in thousands)Marketing ServicesSaaSMarketing ServicesSaaSTotal
Reconciliation of Adjusted Gross Profit
Gross profit$539,543 $130,272 $108,496 $2,071 $780,382 
Plus:
Depreciation and amortization expense17,800 4,657 15,385 505 38,347 
Stock-based compensation expense 332 89 — — 421 
Adjusted Gross Profit$557,675 $135,018 $123,881 $2,576 $819,150 
Gross Margin65.8 %61.5 %65.4 %45.6 %64.9 %
Adjusted Gross Margin68.0 %63.7 %74.6 %56.7 %68.1 %

Supplemental Financial Information
The following supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables below for a reconciliation of these non-GAAP financial measures to the corresponding segment financial measures presented in accordance with GAAP.

We believe that these non-GAAP financial measures provide useful information about our global SaaS and Marketing Services financial performance, enhance the overall understanding of our global SaaS and Marketing Services past financial performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods.

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Three Months Ended December 31, 2023
(in thousands)Marketing ServicesSaaS
U.S.InternationalTotalU.S.InternationalTotal
Revenue$132,665 $29,528 $162,193 $70,652 $3,318 $73,970 
Adjusted EBITDA38,383 7,390 45,773 8,345 (1,842)6,503 
Adjusted EBITDA Margin28.9 %25.0 %28.2 %11.8 %(55.5)%8.8 %
Three Months Ended December 31, 2022
(in thousands)Marketing ServicesSaaS
U.S.InternationalTotalU.S.InternationalTotal
Revenue$187,755 $32,295 $220,050 $57,938 $1,380 $59,318 
Adjusted EBITDA59,758 10,657 70,415 83 (2,305)(2,222)
Adjusted EBITDA Margin31.8 %33.0 %32.0 %0.1 %(167.0)%(3.7)%
Year Ended December 31, 2023
(in thousands)Marketing ServicesSaaS
U.S.InternationalTotalU.S.InternationalTotal
Revenue$510,533 $142,711 $653,244 $253,579 $10,138 $263,717 
Adjusted EBITDA123,249 52,241 175,490 18,576 (6,551)12,025 
Adjusted EBITDA Margin24.1 %36.6 %26.9 %7.3 %(64.6)%4.6 %
Year Ended December 31, 2022
(in thousands)Marketing ServicesSaaS
U.S.InternationalTotalU.S.InternationalTotal
Revenue$820,032 $166,010 $986,042 $211,801 $4,545 $216,346 
Adjusted EBITDA271,629 75,106 346,735 (3,686)(9,707)(13,393)
Adjusted EBITDA Margin33.1 %45.2 %35.2 %(1.7)%(213.6)%(6.2)%

Forward-Looking Statements
Certain statements contained herein are not historical facts, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. Statements that include the words “may”, “will”, “could”, “should”, “would”, “believe”, “anticipate”, “forecast”, “estimate”, “expect”, “preliminary”, “intend”, “plan”, “target”, “project”, “outlook”, “future”, “forward”, “guidance” and similar statements of a future or forward-looking nature identify forward-looking statements. These statements are not guarantees of future performance. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the risks related to the following: the Company’s ability to maintain adequate liquidity to fund operations; the Company’s future operating and financial performance; the Company’s ability to consummate acquisitions, or, if consummated, to successfully integrate acquired businesses into the Company’s operations, the Company’s ability to recognize the benefits of acquisitions, or the failure of an acquired company to achieve its plans and objectives; limitations on our operating and strategic flexibility and the ability to operate our business, finance our capital needs or expand business strategies under the terms of our credit facilities; our ability to retain existing business and obtain and retain new business; general economic or business conditions affecting the markets we serve; declining use of print yellow page

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directories by consumers; our ability to collect trade receivables from clients to whom we extend credit; credit risk associated with our reliance on small and medium sized businesses as clients; our ability to attract and retain key managers; increased competition in our markets; our ability to obtain future financing due to changes in the lending markets or our financial position; our ability to maintain agreements with major Internet search and local media companies; reduced advertising spending and increased contract cancellations by our clients, which causes reduced revenue; and our ability to anticipate or respond effectively to changes in technology and consumer preferences as well as the risks and uncertainties set forth in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such cautionary statements.

If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. For these reasons, we caution you against relying on forward-looking statements. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. These forward-looking statements speak only as of the date hereof and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Thryv Holdings, Inc.

Thryv Holdings, Inc. (NASDAQ:THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs) to grow and modernize their operations so they can compete and win in today’s economy. Over 65,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end operations, which has helped these organizations across the U.S. and overseas grow their bottom line. Of Thryv’s approximately 350,000 business customers, most also use its digital and print presence products, connecting these SMBs to local consumers via proprietary local search portals and local directories. For more information about Thryv Holdings, Inc., visit thryv.com.

Media Contact:
Julie Murphy
Thryv, Inc.
617.967.5426
julie.murphy@thryv.com


Investor Contact:  
Cameron Lessard 
Thryv, Inc.
214.773.7022 
cameron.lessard@thryv.com  
  
 


###

4TH QUARTER & FULL YEAR 2023 Exhibit 99.2

 
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13 Q4 & FY 2023

 
14 4th Quarter and Full Year Highlights 4th Quarter Full Year $ in thousands 2023 2022 YoY% 2023 2022 YoY% Total SaaS Revenue $73,970 $59,318 24.7% $263,717 $216,346 21.9% Adjusted EBITDA 6,503 (2,222) 12,025 (13,393) Adjusted EBITDA Margin 8.8% (3.7)% 4.6% (6.2)% Total Marketing Services Revenue $162,193 $220,050 (26.3)% $653,244 $986,042 (33.8)% Adjusted EBITDA 45,773 70,415 $175,490 $346,735 Adjusted EBITDA Margin 28.2% 32.0% 26.9% 35.2% Consolidated Revenue $236,163 $279,368 (15.5)% $916,961 $1,202,388 (23.7)% Adjusted EBITDA 52,276 68,193 187,515 333,342 Adjusted EBITDA Margin 22.1% 24.4% 20.4% 27.7%

 
15 FINANCIAL REVIEW SaaS Highlights +25% YoY +27% YoY $370 +1% QoQ $60M +54% YoY Revenue Growth Growing Subscribers ARPU ThryvPay TPVSeasoned Net Dollar Retention (NDR) 70% 310 bps QoQ 96% +400 bps QoQ Adjusted Gross Margin

 
16 SaaS Highlights F I N A N C I A L R E V I E W Revenue $59.3 $74.0 Q4-22 Q4-23 Adjusted EBITDA $(2.2) $6.5 Q4-22 Q4-23 Adjusted Gross Margin 62.8% 69.7% Q4-22 Q4-23 ($ in millions)

 
17 $30.6 $33.7 $35.9 $37.3 $38.5 $40.7 $44.9 $51.6 $48.2 $52.2 $56.6 $59.3 $59.9 $62.5 $67.4 $74.0 63.4% 64.5% 63.5% 62.8% 64.2% 65.1% 66.6% 69.7% SaaS Adjusted Gross Profit SaaS Revenue SaaS Adj. Gross Profit Margin Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 F I N A N C I A L R E V I E W Released Q2 2019 Released on Restricted Sale Q4 2022 Released Q3 2023* Released For General Availability *Command Center was in beta until December 2023. Multi-center Platform Impact on Profitability

 
18 (1) Marketing Services Billings excludes Vivial Holdings run-off products and Yellow Holdings Limited (NZ). Q4-23 Q4-22 Marketing Services Billings (millions)(1) $149.2 $192.8 YoY % (23)% (17)% MARKETING SERVICES BILLINGS (YoY%) (23)% (22)% (23)% (21)% (22)% (22)% (21)% (21)% (22)% (21)% (21)% (22)% (19)% (17)% (20)% (17)% (19)% (22)% (19)% (23)% Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Total Marketing Services F I N A N C I A L R E V I E W

 
19 Q1 and FY 2024 Outlook Company Issues Strong SaaS Guidance for FY 2024 (in millions, USD) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 MANAGEMENT COMMENTARY TOTAL MARKETING SERVICES REVENUE $152 to $155 $146 to $149 $99 to $101 $98 to $100 $495 to $505 • Company expects higher print revenue in 1H-24 Adjusted EBITDA $132 to $135 • Company expects FY-24 Marketing Services Adjusted EBITDA margin of ~27% (in millions, USD) Q1 2024 FY 2024 MANAGEMENT COMMENTARY TOTAL SAAS REVENUE $73 to $74 $325 to $328 • Company expects FY-24 growth of 23% to 24% Adjusted EBITDA $6 to $7 $26 to $29 • Company expects SaaS Adjusted EBITDA margins in the high-single digits for FY-24

 

 
21 APPENDIX Segment Results Three Months Ended December 31, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 187,755 $ 57,938 $ 32,295 $ 1,380 $ 279,368 Segment Gross Profit 124,413 34,944 18,802 746 178,905 Segment Adjusted EBITDA 59,758 83 10,657 (2,305) 68,193 Three Months Ended December 31, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 132,665 $ 70,652 $ 29,528 $ 3,318 $ 236,163 Segment Gross Profit 88,520 47,183 21,232 2,775 159,710 Segment Adjusted EBITDA 38,383 8,345 7,390 (1,842) 52,276 Year Ended December 31, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 510,533 $ 253,579 $ 142,711 $ 10,138 $ 916,961 Segment Gross Profit 320,327 161,663 88,730 7,527 578,247 Segment Adjusted EBITDA 123,249 18,576 52,241 (6,551) 187,515 Year Ended December 31, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 820,032 $ 211,801 $ 166,010 $ 4,545 $ 1,202,388 Segment Gross Profit 539,543 130,272 108,496 2,071 780,382 Segment Adjusted EBITDA 271,629 (3,686) 75,106 (9,707) 333,342

 
22 (in thousands) Q1-22 Q2-22 Q3-22 Q4-22 FY22 Q1-23 Q2-23 Q3-23 Q4-23 FY23 Net Income (Loss) $ 33,511 $ 58,002 $ 13,280 $ (50,445) $ 54,348 $ 9,314 $ 15,978 $ (27,046) $ (257,541) $ (259,295) Interest expense 14,867 14,652 14,570 16,318 60,407 16,488 16,292 15,131 13,817 61,728 Depreciation and amortization expense 21,969 20,592 23,393 22,438 88,392 15,431 15,667 15,842 16,311 63,251 Stock-based compensation expense 1,928 3,810 4,402 4,488 14,628 5,393 5,798 5,462 5,548 22,201 Restructuring and integration expenses 5,827 4,822 3,790 3,365 17,804 5,340 3,921 3,584 1,767 14,612 Income tax expense (benefit) 9,621 22,200 6,241 6,565 44,627 4,496 (3,428) (10,241) 7,924 (1,249) Transaction costs 1,720 1,616 1,461 1,322 6,119 373 — — — 373 Other components of net periodic pension (benefit) cost (70) (9,153) 3,928 (39,317) (44,612) 121 1,865 1,902 (6,607) (2,719) (Gain) loss on remeasurement of indemnification asset (400) (487) (585) (676) (2,148) (756) 11,490 — — 10,734 Impairment charges — 222 — 102,000 102,222 — — — 268,846 268,846 Other (5,256) (276) (5,048) 2,135 (8,445) 2,269 1,856 2,697 2,211 9,033 Adjusted EBITDA $ 83,717 $ 116,000 $ 65,432 $ 68,193 $ 333,342 $ 58,469 $ 69,439 $ 7,331 $ 52,276 $ 187,515 000 APPENDIX Non-GAAP Financial Reconciliation *Figures may not foot due to rounding.

 
23 Reconciliation of Adjusted Gross Profit to Gross profit APPENDIX Three Months Ended December 31, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 88,520 $ 47,183 $ 21,232 $ 2,775 $ 159,710 Plus: Depreciation and amortization expense 2,665 1,425 1,356 150 5,596 Stock-based compensation expense 74 43 — — 117 Adjusted Gross Profit $ 91,259 $ 48,651 $ 22,588 $ 2,925 $ 165,423 Gross Margin 66.7 % 66.8 % 71.9 % 83.6 % 67.6 % Adjusted Gross Margin 68.8 % 68.9 % 76.5 % 88.2 % 70.0 % Three Months Ended December 31, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 124,413 $ 34,944 $ 18,802 $ 746 $ 178,905 Plus: Depreciation and amortization expense 4,419 1,379 3,614 168 9,580 Stock-based compensation expense 81 26 — — 107 Adjusted Gross Profit $ 128,913 $ 36,349 $ 22,416 $ 914 $ 188,592 Gross Margin 66.3 % 60.3 % 58.2 % 54.1 % 64.0 % Adjusted Gross Margin 68.7 % 62.7 % 69.4 % 66.2 % 67.5 % Non-GAAP Financial Reconciliation

 
24 Reconciliation of Adjusted Gross Profit to Gross profit APPENDIX Year Ended December 31, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 320,327 $ 161,663 $ 88,730 $ 7,527 $ 578,247 Plus: Depreciation and amortization expense 10,766 5,429 10,045 749 26,989 Stock-based compensation expense 399 214 — — 613 Adjusted Gross Profit $ 331,492 $ 167,306 $ 98,775 $ 8,276 $ 605,849 Gross Margin 62.7 % 63.8 % 62.2 % 74.2 % 63.1 % Adjusted Gross Margin 64.9 % 66.0 % 69.2 % 81.6 % 66.1 % Year Ended December 31, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 539,543 $ 130,272 $ 108,496 $ 2,071 $ 780,382 Plus: Depreciation and amortization expense 17,800 4,657 15,385 505 38,347 Stock-based compensation expense 332 89 — — 421 Adjusted Gross Profit $ 557,675 $ 135,018 $ 123,881 $ 2,576 $ 819,150 Gross Margin 65.8 % 61.5 % 65.4 % 45.6 % 64.9 % Adjusted Gross Margin 68.0 % 63.7 % 74.6 % 56.7 % 68.1 % Non-GAAP Financial Reconciliation

 
25 APPENDIX Supplemental Financial Information The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. Additionally, the supplemental financial information provides consolidated Free cash flow, which is also a non-GAAP measure. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Three Months Ended December 31, 2023 (in thousands) Marketing Services SaaS U.S. International Total Marketing Services U.S. International Total SaaS Revenue $ 132,665 $ 29,528 $ 162,193 $ 70,652 $ 3,318 $ 73,970 Adjusted EBITDA 38,383 7,390 45,773 8,345 (1,842) 6,503 Adjusted EBITDA Margin 28.9 % 25.0 % 28.2 % 11.8 % (55.5) % 8.8 % Three Months Ended December 31, 2022 (in thousands) Marketing Services SaaS U.S. International Total Marketing Services U.S. International Total SaaS Revenue $ 187,755 $ 32,295 $ 220,050 $ 57,938 $ 1,380 $ 59,318 Adjusted EBITDA 59,758 10,657 70,415 83 (2,305) (2,222) Adjusted EBITDA Margin 31.8 % 33.0 % 32.0 % 0.1 % (167.0) % (3.7) % Three Months Ended December 31, (in thousands) 2023 2022 Net cash provided by operating activities $ 44,578 $ 44,352 Additions to fixed assets and capitalized software (10,474) (9,888) Free cash flow $ 34,104 $ 34,464

 
26 APPENDIX The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. Additionally, the supplemental financial information provides consolidated Free cash flow, which is also a non-GAAP measure. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Year Ended December 31, 2023 (in thousands) Marketing Services SaaS U.S. International Total Marketing Services U.S. International Total SaaS Revenue $ 510,533 $ 142,711 $ 653,244 $ 253,579 $ 10,138 $ 263,717 Adjusted EBITDA 123,249 52,241 175,490 18,576 (6,551) 12,025 Adjusted EBITDA Margin 24.1 % 36.6 % 26.9 % 7.3 % (64.6) % 4.6 % Year Ended December 31, 2022 (in thousands) Marketing Services SaaS U.S. International Total Marketing Services U.S. International Total SaaS Revenue $ 820,032 $ 166,010 $ 986,042 $ 211,801 $ 4,545 $ 216,346 Adjusted EBITDA 271,629 75,106 346,735 (3,686) (9,707) (13,393) Adjusted EBITDA Margin 33.1 % 45.2 % 35.2 % (1.7) % (213.6) % (6.2) % Years Ended December 31, (in thousands) 2023 2022 Net cash provided by operating activities $ 148,226 $ 148,573 Additions to fixed assets and capitalized software (33,394) (29,233) Free cash flow $ 114,832 $ 119,340 Supplemental Financial Information

 
27

 
28 APPENDIX Definitions Definitions of key terms used in this presentation are as follows: • Total SaaS revenue consists of SaaS revenue recognized by our domestic and foreign operations. • Total Marketing Services revenue consists of SaaS revenue recognized by our domestic and foreign operations. • Total SaaS Adjusted EBITDA1 consists of Adjusted EBITDA recognized by our domestic and foreign operations. • Total Marketing Services1 Adjusted EBITDA consists of Adjusted EBITDA recognized by our domestic and foreign operations. • Adjusted EBITDA2: Defined as Net income (loss) plus Interest expense, Income tax expense (benefit), Depreciation and amortization expense, Loss on early extinguishment of debt, Restructuring and integration expenses, Transaction costs, Stock-based compensation expense, and non-operating expenses, such as, Other components of net periodic pension (benefit) cost, Non-cash (gain) loss from remeasurement of indemnification asset, and certain unusual and non-recurring charges that might have been incurred. • Adjusted Gross Profit and Adjusted Gross Profit Margin2: Defined as Gross profit and Gross margin, respectively, adjusted to exclude the impact of depreciation and amortization expense and stock-based compensation expense. • Average Revenue per Unit (“ARPU”): Defined as total client billings for a particular month divided by the number of clients that have one or more revenue-generating solutions in that same month • Seasoned Net Dollar Retention: Defined as net dollar retention excluding clients acquired over the previous 12 months. • SaaS Monthly Active Users: Defined as a client with one or more users who log into our SaaS solutions at least once during the calendar month. 1The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin by (i) Marketing Services businesses in the U.S., International and in Total and (ii) SaaS businesses in the U.S., International and in Total. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non- GAAP financial measures. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. 2Results included in this presentation include Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Gross Profit, which are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables in the Appendix for a reconciliation of Adjusted EBITDA to Net income (loss) and Adjusted Gross Profit to Gross profit. Both Net income (loss) and Gross profit are the most comparable GAAP financial measure to Adjusted EBITDA and Adjusted Gross Profit, respectively. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. However, it is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry.

 
v3.24.0.1
Cover Page
Feb. 22, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 22, 2024
Entity Registrant Name THRYV HOLDINGS, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 001-35895
Entity Tax Identification Number 13-2740040
Entity Address, Address Line One 2200 West Airfield Drive, P.O. Box 619810
Entity Address, City or Town D/FW Airport
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75261
City Area Code 972
Local Phone Number 453-7000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol THRY
Entity Emerging Growth Company false
Entity Central Index Key 0001556739
Amendment Flag false
Security Exchange Name NASDAQ
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