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Thryv Holdings, Inc. (THRY)
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Thryv Holdings Reports Strong Q1 2026 Results, Exceeding Revenue and EBITDA Guidance

Last updated: April 30, 2026
Taurigo

Thryv Holdings, Inc. (NASDAQ: THRY), a leader in small business marketing and sales software, has released its financial results for the first quarter of 2026. The company has reported a solid performance, particularly in its Software as a Service (SaaS) segment, which has now become the primary driver of its overall revenue.

1. Key Financial Highlights

In the first quarter of 2026, Thryv achieved several notable financial metrics:

  • SaaS Revenue: $116.7 million, reflecting a 5.0% increase year-over-year.
  • Marketing Services Revenue: $50.9 million, which marks a significant decrease of 27.5% compared to the previous year.
  • Consolidated Total Revenue: $167.7 million, down 7.5% year-over-year.
  • Net Income: Increased to $4.5 million, or $0.10 per diluted share, up from a net loss of $9.6 million, or $(0.22) per diluted share, in Q1 2025.
  • Adjusted EBITDA: Consolidated Adjusted EBITDA was reported at $24.1 million, equating to an Adjusted EBITDA margin of 14.4%.
  • SaaS Adjusted EBITDA: $10.8 million, with an Adjusted EBITDA margin of 9.3%.
  • Marketing Services Adjusted EBITDA: $13.2 million, representing an impressive Adjusted EBITDA margin of 26.0%.

Gross Profit Metrics

Thryv's gross profit figures provide insight into the company's operational efficiency:

  • Consolidated Gross Profit: $109.3 million.
  • SaaS Gross Profit: $75.6 million, yielding a gross margin of 64.8%.
  • Adjusted Gross Profit: $112.9 million, with an Adjusted Gross Margin of 67.0%.

2. Business Performance and Client Metrics

The first quarter also showcased Thryv's growing SaaS client base and engagement levels:

  • Quality Customers: Clients contributing more than $400 in monthly recurring revenue accounted for 70% of SaaS revenue.
  • Total SaaS Clients: Reached 96,000 by the end of Q1 2026.
  • Seasoned Net Revenue Retention: Recorded at 93%, indicating a strong ability to retain and grow revenue from existing clients.
  • Average Revenue Per Unit (ARPU): Increased to $378, up 12.8% year-over-year.
  • Marketing Center Revenue: Grew by 29% year-over-year in the first quarter of 2026.

Joe Walsh, Chairman and CEO of Thryv, expressed optimism about the company's trajectory, stating, "We delivered a strong start to 2026, with SaaS revenue exceeding our guidance and now representing 70% of total revenue. Our upmarket motion is clearly working, as ARPU grew 13% year-over-year."

3. Outlook for 2026

Looking ahead, Thryv has provided guidance for the second quarter and full year 2026, reflecting confidence in its growth strategy:

  • SaaS Revenue Guidance:
  • Q2 2026: $114 - $115 million
  • Full Year 2026: $463 - $471 million
  • SaaS Adjusted EBITDA Guidance:
  • Q2 2026: $12 - $13 million
  • Full Year 2026: $70 - $75 million
  • Marketing Services Revenue Guidance:
  • Q2 2026: $31 - $33 million
  • Full Year 2026: $157 - $163 million

4. Conclusion

Thryv Holdings, Inc. has demonstrated robust growth in its SaaS segment while navigating challenges in its marketing services. With a clear strategy and strong leadership, the company is poised for further growth in the year ahead, focusing on expanding its reach and optimizing client engagement. Investors and stakeholders will be keenly watching how these trends unfold as Thryv continues to adapt to the evolving landscape of small business marketing solutions.

Thryv will discuss its Q1 2026 results in greater detail during its earnings conference call scheduled for April 30, 2026, at 8:30 a.m. ET.

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