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Thryv Holdings, Inc. reports on an AI-enabled marketing and sales software platform for small and medium-sized businesses. Its software offerings include lead insights, automated customer follow-up, payment processing, an AI-enabled CRM and related tools designed to help service businesses manage customer acquisition, sales activity and repeat engagement.
Recurring Thryv news centers on SaaS revenue growth, Marketing Center performance, average revenue per unit, adjusted EBITDA, guidance updates and the transition from legacy marketing services toward software-led revenue. Product updates include Thryv AI Lead Flow, home-services marketing automations and integrations that combine Thryv Marketing Center with Keap sales automation capabilities.
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.
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