Thryv Holdings Reports Strong SaaS Growth in Q4 2024

Thryv Holdings, Inc. ( (THRY) ) has released its Q4 earnings. Here is a breakdown of the information Thryv Holdings, Inc. presented to its investors.

Thryv Holdings, Inc. is a company that provides a leading sales and marketing platform designed to help small businesses manage their operations and grow efficiently, primarily operating in the software as a service (SaaS) sector.

In its latest earnings report, Thryv Holdings, Inc. announced a significant increase in its SaaS revenue for the fourth quarter of 2024, exceeding its guidance and marking a pivotal shift towards a software-driven revenue model. The company also highlighted the successful integration of Keap, a recent acquisition, which contributed to a substantial increase in SaaS subscribers.

Key financial metrics from the report include a 41% year-over-year increase in total SaaS revenue for the fourth quarter, with Thryv’s standalone SaaS revenue rising by 23%. The company achieved a SaaS adjusted EBITDA margin of 17% and reported a consolidated net income of $7.9 million, a notable improvement from a net loss of $257.5 million in the same quarter of the previous year. However, total marketing services revenue saw a significant decline of 49% due to the timing of print publication cycles.

For the full year 2024, Thryv reported a 30% increase in total SaaS revenue, while consolidated total revenue decreased by 10% year-over-year. The company ended the year with a consolidated net loss of $74.2 million, which included a non-cash charge related to marketing services goodwill impairment. Despite the challenges in marketing services, Thryv’s SaaS segment demonstrated robust growth and profitability.

Looking ahead to 2025, Thryv’s management remains optimistic about sustaining profitable SaaS revenue growth and margin expansion. The company expects continued positive momentum, driven by the integration of Keap and the ongoing transformation into a leading software company.