NASDAQ$THRY

Thryv Holdings Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Reported SaaS revenue growth and raised full-year SaaS guidance, driven by subscriber growth and strategic refinancing.

Thryv reported a 24% year-over-year increase in SaaS revenue for Q1 2024. The company raised its full-year SaaS guidance and authorized a $40 million share repurchase program. They also refinanced their credit agreement for enhanced financial flexibility.

  • SaaS revenue increased by 24% year-over-year.
  • SaaS subscribers grew by 30% year-over-year.
  • A $40 million share repurchase program was announced.
  • The company refinanced its maturing credit facility.

Headline financials

Total Revenue

$234M

Previous: $246M-4.9%
EPS

$0.22

Previous: $0.25-12.0%
SaaS Adj EBITDA Margin

4.6%

No prior period
SaaS revenue ex-Keap

$74.3M

No prior period
Consolidated Adjusted EBITDA

$54.1M

No prior period
Consolidated Adj EBITDA Margin

23.2%

No prior period
SaaS Adjusted EBITDA

$3.44M

No prior period
Marketing Services Adj EBITDA

$50.7M

No prior period
Marketing Services Adj EBITDA Margin

31.8%

No prior period
Consolidated Adjusted Gross Profit

$160M

No prior period
Consolidated Gross Margin

65.8%

No prior period
Consolidated Adj Gross Margin

68.3%

No prior period
SaaS Gross Profit

$49.1M

No prior period
SaaS Gross Margin

66.1%

No prior period
SaaS Adjusted Gross Profit

$50.9M

No prior period
SaaS Adj Gross Margin

68.4%

No prior period
Marketing Services Gross Profit

$105M

No prior period
Marketing Services Gross Margin

65.6%

No prior period
Marketing Services Adj Gross Profit

$109M

No prior period
Marketing Services Adj Gross Margin

68.3%

No prior period
SaaS Clients

70.0K

No prior period
Seasoned NRR

94.0%

No prior period
Capital Expenditures

-$7.28M

No prior period
Free Cash Flow

$8.42M

Previous: $9.31M-9.6%
Net Income

$8.42M

Previous: $9.31M-9.6%
Operating Income

$31.1M

Previous: $30.8M+1.1%
Gross Profit

$154M

Previous: $155M-0.8%
Cash & Equivalents

$14.4M

Previous: $15.4M-6.5%
Total Assets

$787M

Previous: $1.17B-32.9%
Stock-Based Comp

$5.29M

Previous: $5.39M-1.9%

Revenue & EPS history

Thryv · Revenue · Quarterly

$234M

Q1 2024-4.9%vs Q1 2023
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

Thryv · $210M total across 2 segments · Q2 2025

  • SaaS
    $115M—
  • Marketing Services
    $95.5M—

Forward guidance

Thryv issued guidance for the second quarter and full year 2024.

Tailwinds

  • SaaS Revenue 2nd Quarter: $77.5 - $79.5 million
  • SaaS Revenue Full Year: $326 - $329 million
  • SaaS Adjusted EBITDA 2nd Quarter: $6.5 - $7.5 million
  • SaaS Adjusted EBITDA Full Year: $28 - $30 million
  • Marketing Services Revenue Full Year: $487 - $494 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

-2.5%

Avg return

Earnings day

-2.9%

Avg return

5 days after

-1.6%

Avg return

30 days after

44%

12 / 27 earnings

Positive

+12.0%

Q3 2023

Best reaction

-46.6%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026-2.2%+4.1%+6.0%
Q4 2025-46.6%-25.0%-36.5%
Q3 2025-30.8%-43.7%-51.9%
Q1 2025-9.2%-1.3%-2.9%
Q4 2024-6.1%-9.5%-27.7%
Q3 2024-7.8%-7.0%+2.5%
Q2 2024-6.9%-14.8%-6.5%
Q1 2024-9.2%-9.3%-11.0%
Q4 2023-5.9%-3.7%+4.6%
Q3 2023+12.0%+13.3%+12.5%
Q2 2023+1.9%+3.5%-12.4%
Q1 2023-4.8%-7.8%+9.2%
Q4 2022-0.5%-2.7%-9.4%
Q3 2022-12.1%-7.5%-6.4%
Q2 2022+6.1%+9.1%+1.4%
Q1 2022+2.5%-5.1%-2.9%
Q4 2021-0.1%+4.4%-4.2%
Q3 2021+9.8%+9.7%+15.6%
Q2 2020-2.8%-9.2%-14.2%
Q2 2021-2.8%-9.2%-14.2%
Q1 2020+11.5%+8.5%+27.6%
Q1 2021+11.5%+8.5%+27.6%
Q4 2020+6.5%+4.1%+18.0%
Q4 2018+6.5%+4.1%+18.0%
Q3 2020+3.5%+2.3%+4.5%
Q4 2019+3.5%+2.3%+4.5%
Q3 2019+3.5%+2.3%+4.5%
Q4 2017———
Q3 2017———
Q1 2017———
Q3 2015———
Q2 2015———
Q1 2015———
Q4 2014———
Q3 2014———
Q2 2014———
Q1 2014———
Q4 2013———
Q3 2013———
Q3 2012———
Q2 2012———
Q2 2013———
Q1 2013———
Q4 2012———

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