Thryv Holdings, Inc. (NASDAQ: THRY) reported robust SaaS growth in 2025, highlighting the company’s ongoing transformation from legacy print and marketing services to a leading software provider for small and medium-sized businesses (SMBs).

Key 2025 Financial Highlights:

• Full-Year SaaS Revenue: $461.0M, up 34% YoY; excluding Keap acquisition: $391.4M, up 18.6% YoY

• Fourth Quarter SaaS Revenue: $119.0M, up 14% YoY; excluding Keap: $102.8M, up 13.1% YoY

• Marketing Services Revenue: $324.0M for the year, down 32.6% YoY

• Consolidated Total Revenue: $785.0M, down 4.7% YoY

• Consolidated Net Income: $0.3M for the year vs. net loss of $74.2M in 2024

• Consolidated Adjusted EBITDA: $151.8M, with a 19.3% margin

• SaaS Adjusted EBITDA: $73.8M, 16.0% margin

• SaaS Gross Profit & Margin: $325.8M, 70.7%; Adjusted Gross Profit: $335.0M, 72.7%

Operational Metrics:

• SaaS Clients: 100,000 at year-end 2025

• Quality Customers: 69% of SaaS revenue from clients contributing >$400 MRR in Q4

• Seasoned Net Revenue Retention: 94% as of December 31, 2025

• SaaS ARPU: $373 in Q4, up 15% YoY

• Marketing Center Revenue: Grew 56% in Q4 and over 100% for the full year

CEO Commentary:

Joe Walsh, Chairman and CEO, stated:

“We delivered solid full-year 2025 results, with SaaS revenue growth of 34% YoY and SaaS Adjusted EBITDA margin of 16.0%. We have successfully transitioned into a leading SMB software company, with SaaS revenue now contributing over 62% of total revenue. Looking ahead, we are shifting to a unified growth offering enabled by AI—the Thryv Platform—designed to help small businesses market, sell, and grow.”

Upcoming Earnings Conference Call:

Thryv will host a call on Thursday, February 26, 2026, at 8:30 a.m. ET to discuss Q4 results and outlook. Live webcast and registration details are available at investor.thryv.com.

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