Thryv Holdings, Inc. ( (THRY) ) has released its Q3 earnings. Here is a breakdown of the information Thryv Holdings, Inc. presented to its investors.
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Thryv Holdings, Inc. is a provider of marketing services and Software as a Service (SaaS) business management tools, primarily serving small-to-medium sized businesses (SMBs) with print and digital marketing solutions, headquartered in Texas. Their offerings include Print Yellow Pages, digital marketing services, and the Thryv SaaS platform designed to streamline business operations for SMBs.
In the latest earnings report, Thryv Holdings, Inc. disclosed a revenue of $179.9 million for the third quarter of 2024, slightly down from $183.8 million in the same period last year. The company reported a net loss of $96.1 million for the third quarter, a significant increase compared to a net loss of $27 million in the third quarter of 2023. The rise in losses is attributed to impairment charges and adjustments in their strategic focus.
Key financial highlights include a gross profit of $112 million, with operating expenses totaling $200.6 million, impacted by an $83.1 million impairment charge. The company faced a decline in revenue from its marketing services but maintained a stable performance in its SaaS segment. Additionally, strategic decisions were made to phase out certain marketing services by 2028 to focus on transitioning clients to SaaS solutions.
Looking forward, Thryv Holdings is adjusting its strategies, focusing on expanding its SaaS offerings and optimizing operations to better align with market demands. The management remains focused on enhancing its platform and expanding its market presence, while addressing the challenges faced by its marketing services division.
