Thryv Holdings, Inc. - THRY STOCK NEWS

Thryv Holdings (NASDAQ:THRY) reported strong Q2 2024 results, with SaaS revenue growing 25% year-over-year to $77.8 million. The company saw a 52% increase in SaaS subscribers, reaching 85,000 clients. Despite this growth, total revenue decreased 11% to $224.1 million due to a 23% decline in Marketing Services revenue.

Key financial highlights include:

• Consolidated net income of $5.5 million ($0.15 per diluted share)
• Consolidated Adjusted EBITDA of $59.3 million (26.5% margin)
• SaaS Adjusted EBITDA of $10.2 million (13.1% margin)
• ThryvPay total payment volume increased 34% year-over-year to $80 million

Thryv raised its full-year 2024 SaaS Adjusted EBITDA guidance and projects Q3 2024 SaaS revenue between $82-$84 million.

Thryv (NASDAQ: THRY), a leading small business software platform provider, has been named to Selling Power's 60 Best Companies to Sell For list for the seventh consecutive year. This recognition highlights Thryv's commitment to supporting small businesses and its sales team excellence. The ranking is based on five key areas: company overview, compensation and benefits, hiring and training, diversity and inclusion, and AI incorporation in sales processes.

Thryv's Chief Revenue Officer, Jim McCusker, emphasized the company's dedication to helping SMBs modernize operations and grow in a competitive environment. The recognition underscores Thryv's focus on expertly trained sales staff, client success managers, and evolving software offerings.

Thryv Holdings, a provider of small business software platforms, will release its second quarter 2024 financial results on Thursday, August 1, before the market opens. This announcement will be followed by a conference call at 8:30 a.m. ET to discuss the results. Interested parties can register for the call through a link on Thryv's Investor Relations website, where a confirmation email with dial-in details and a unique entry code will be provided. Additionally, a live webcast and downloadable files of the press release and call replay will be available on the same website.

Thryv Holdings (NASDAQ:THRY), a leading small business software provider, has been named to Newsweek's Top 100 Global Most Loved Workplaces for 2024. This is the company's first appearance on the global list, having previously been recognized twice on the U.S. list. The ranking is based on feedback from over 2 million employees across various countries, including the U.S., Australia, and Canada. Thryv secured the 72nd spot, reflecting its commitment to a culture of inclusion and collaboration. CEO Joe Walsh and other executives highlighted the importance of employee sentiment and satisfaction in achieving this recognition.

Thryv Holdings, a provider of the Thryv small business software platform, announced its participation in upcoming investor conferences.

The management team will host 1:1 meetings at the William Blair 44th Annual Growth Stock Conference on June 4, 2024, at 2:20 p.m. ET, taking place at the Loews Chicago Hotel in Chicago, Illinois.

They will also be present at the Baird 2024 Global Consumer, Technology & Services Conference on June 5, 2024, at 2:35 p.m. ET, held at the InterContinental New York Barclay in New York.

According to a recent Thryv survey, 51% of small businesses expect to adopt AI by the end of 2025, up from the current 39%. This survey, conducted in April 2024 among 530 small business owners, reveals that more than half of current AI users anticipate monthly savings between $500-$2,000 and up to 20 hours.

Key benefits include offloading repetitive tasks (73%), regaining personal time (67%), and alleviating resource constraints (58%). AI adoption varies by age and business size, with younger owners and larger businesses more likely to use AI.

Despite the benefits, nearly a third of respondents worry about unintended consequences, such as unconscious bias. Additionally, some small businesses remain skeptical, citing AI's novelty and trust issues. Thryv's AI tools aim to simplify transitions by integrating AI directly into small business workflows.

Thryv Holdings, Inc. (NASDAQ:THRY) will participate in several investor conferences in May 2024. The company's management team will host 1:1 meetings at the Oppenheimer Emerging Growth Conference, Needham Tech & Media Conference, and B. Riley Institutional Investor Conference. These conferences provide a platform for Thryv to engage with investors and showcase its small business software platform, Thryv®.

Thryv Holdings, Inc. (NASDAQ:THRY) has announced a $40 million share repurchase program. The Board of Directors has authorized the repurchase of outstanding shares of the Company's common stock through open market or private transactions. The Company will consider various factors in determining the timing and amount of repurchases, such as stock availability, market conditions, trading price, capital allocation, and financial performance. The repurchase program is not bound by a specific number of shares or timeframe and may be adjusted or terminated as needed. Funding for repurchased shares will come from the Company's available liquidity.

Thryv Holdings, Inc. (NASDAQ:THRY) reported a 24% year-over-year growth in SaaS revenue for the first quarter of 2024, with a 30% increase in SaaS subscribers. The company also refinanced its credit facility, initiated a $40 million share repurchase program, and appointed a new Chief Product Officer. Thryv issued positive full-year SaaS guidance and experienced notable growth in SaaS metrics. The company's financial performance included a decrease in Marketing Services revenue but an increase in SaaS revenue, with strong Adjusted EBITDA margins across segments. Thryv remains focused on profitable SaaS growth and maintaining a healthy balance sheet.