You might also like
Thryv Holdings, Inc. is a global provider of marketing solutions and cloud-based tools designed to support small-to-medium sized businesses (SMBs). The company offers innovative products that help SMBs generate leads, manage customer relationships, and streamline daily operations. Thryv's offerings include marketing services, customer experience tools, and an all-in-one business management platform.
- Thryv U.S. Marketing Services - Provides print and digital marketing solutions, including Print Yellow Pages, Internet Yellow Pages (Yellowpages.com, Superpages.com, Dexknows.com), and search engine marketing tools.
- Thryv U.S. SaaS - Offers the Thryv\u00ae platform, an all-in-one business management tool with features like customer relationship management, appointment scheduling, marketing, and payment solutions.
- Thryv International Marketing Services - Delivers print and digital marketing solutions outside the United States, including operations in Australia and New Zealand.
- Thryv International SaaS - Provides the Thryv platform to international markets, focusing on enhancing SMB operations globally.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Joseph A. Walsh ExecutiveBoard | Chairman of the Board and Chief Executive Officer (Principal Executive Officer) | None | Joseph A. Walsh is the Chairman and CEO of Thryv. No details on prior roles or external positions are available in the documents. | View Report → |
Grant Freeman Executive | President | None | Grant Freeman became President on September 1, 2023. Previously Chief Customer Officer and VP of Client Success at Thryv. | |
John Wholey Executive | Chief Operations & Information Officer and Executive Vice President | None | John Wholey has been with Thryv since January 2015. Previously VP/Head of Contact Centers at hibu, Inc. | |
Lesley Bolger Executive | Chief Legal Officer & Human Resources and Executive Vice President; Chief Compliance Officer and Secretary | None | Lesley Bolger has been Chief Legal Officer since October 2021 and Chief Compliance Officer since June 2019. She has held various legal roles at Thryv since 2006. | |
Paul D. Rouse Executive | Chief Financial Officer, Executive Vice President, and Treasurer | None | Paul D. Rouse has been CFO since November 2014. Previously CFO at Apple and Eve, LLC and VP of Finance at Yellowbook, Inc. | |
Amer Akhtar Board | Director | Advisory Board Member at PayActiv Inc. | Amer Akhtar has been a director since 2020. He has held leadership roles at iTrade Network, Celential.ai, DeepMap, and Yahoo Small Business. | |
Bonnie Kintzer Board | Director | CEO of Trusted Media Brands, Chair of MPA, Chair of 40 Million Story Campaign, Board Member at Children’s Learning Center of Fairfield County | Bonnie Kintzer has been a director since September 2020. She is also CEO of Trusted Media Brands and holds leadership roles in nonprofit and industry organizations. | |
Heather Zynczak Board | Director | CMO of AlphaSense, Director at Demandbase, D2L, Lendio, and Vasion | Heather Zynczak has been a director since 2020. She has held leadership roles at Pluralsight, Domo, SAP, and Oracle, and is currently CMO of AlphaSense. | |
John Slater Board | Lead Independent Director | None | John Slater has been a director since 2016 and Lead Independent Director since December 2021. He has extensive experience in accounting, technology, and capital markets. | |
Lauren Vaccarello Board | Director | Director at SalesHood Inc. | Lauren Vaccarello has been a director since 2020. She has held executive roles at Salesloft, Talend, and Box, and is an expert in digital marketing and SaaS growth. | |
Ryan O’Hara Board | Director | CEO of 210 Home Buyers Warranty, Board Member at Offerpad, Board Observer at Inside Real Estate | Ryan O’Hara has been a director since 2020. He has held leadership roles at Shutterfly, Move Inc., and Yahoo Small Business. |
-
The accelerated migration of your marketing services clients to the SaaS platform has led to temporary pressure on ARPU and declining marketing services revenue. How sustainable is this strategy, and what impact do you anticipate it will have on your overall revenue growth and profitability in the coming quarters?
-
With only 12% of your SaaS subscribers currently adopting multiple centers, how confident are you in your ability to drive further multicenter adoption to sustain your net dollar retention rate at or above 100%, and what strategies are you implementing to achieve this?
-
Your gross margins have improved significantly, reaching over 72%, partly due to the Keap acquisition. Can you elaborate on the potential risks associated with integrating Keap's operations, particularly in maintaining their higher gross margins within your overall business model?
-
Given the ongoing structural decline in your marketing services business, including a 35% year-over-year decline in billings and recent non-cash impairment charges, what measures are you taking to mitigate the impact on your consolidated EBITDA and free cash flow, and can we expect further impairment charges in the future?
-
In light of the temporary pressure on SaaS ARPU due to the introduction of lower-priced offerings to accelerate migration, how do you plan to increase ARPU over time, and what specific upselling strategies will you employ to expand these customer relationships and drive long-term value?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Infusion Software, Inc. (d/b/a Keap) | 2024 | Acquired for $80 million in cash with additional financing through an underwritten public offering of 5,715,000 shares and a $5.5 million ABL loan; this strategic move expands Thryv’s integrated marketing and sales solutions by adding a SaaS email marketing platform with 17,000 subscribers, positioning them for revenue growth and operational synergies. |
Yellow Holdings Limited | 2023 | Acquired for $8.9 million in cash, net of adjustments, with key assets including $2.4 million in current assets and $5.6 million in fixed/intangible assets, alongside the assumption of $4.7 million in liabilities; the acquisition is designed to enhance customer relationships and trade names, with recognized goodwill of $5.1 million and a revenue contribution of $9.1 million. |
Vivial Media Holdings, Inc. | 2022 | Completed for $22 million in cash; the deal involved acquiring approximately $26.4 million in current assets, $9.8 million in fixed/intangible assets, and assuming $24.2 million in liabilities, along with a notable $7.3 million bargain purchase gain—this acquisition, executed under ASC 805, reflects a strategic move to strengthen customer relationships and technology assets. |
Recent press releases and 8-K filings for THRY.
- SaaS revenue reached $111.1M with a 50% YoY increase and Adjusted EBITDA of $10.8M
- Consolidated revenue declined to $181.4M, resulting in a net loss of $9.6M
- Operational highlights: SaaS clients increased 59% YoY to 111K with a record 103% seasoned NRR and growth supported by subscribers rising from 70K to 96K
- Guidance: Q2 2025 SaaS revenue expected at $113.0M-$115.0M and FY 2025 at $460.5M-$471.0M, with Marketing Services revenue to decline ~35%