Thryv Holdings (NASDAQ: THRY) swings to Q2 loss, eyes $55M–$60M savings

Rhea-AI Filing Summary

Thryv Holdings, Inc. reported weak second quarter 2026 results as it continues shifting toward software. Total revenue was $150.7 million, down from $210.5 million a year earlier. SaaS revenue was $114.5 million, essentially flat year-over-year and now 76% of total revenue, while Marketing Services revenue fell to $36.2 million. The company posted a consolidated net loss of $16.7 million, or $(0.38) per diluted share, compared with net income of $13.9 million a year ago. Consolidated Adjusted EBITDA was $20.8 million, a 13.8% margin, versus $51.2 million and a 24.3% margin in the prior-year quarter.

Management highlighted SaaS mix and monetization: SaaS ARPU reached $394, up 11.9% year-over-year, with approximately 95,000 SaaS clients, “quality customers” representing 72% of SaaS revenue, and Seasoned Net Revenue Retention of 90%. Thryv announced a restructuring plan with expected total charges of approximately $20–$25 million and projected $55–$60 million in gross annualized cost savings beginning in 2027, which are expected to be accretive to Adjusted EBITDA margins and free cash flow. For full year 2026, the company guides to total revenue of $614.0–$620.0 million and Adjusted EBITDA of $73.0–$77.0 million, with SaaS revenue of $453.0–$457.0 million and Marketing Services revenue of $161.0–$163.0 million.

Positive

• Restructuring targets major cost savings: Thryv plans a strategic restructuring with expected $55–$60 million in gross annualized cost savings from 2027, which management expects to be accretive to Adjusted EBITDA margins and free cash flow.
• SaaS economics and mix improving: SaaS represented 76% of Q2 revenue, monthly ARPU rose 11.9% to $394, and "quality customers" accounted for 72% of SaaS revenue, indicating deeper monetization of its core software base.

Negative

• Sharp revenue contraction and profit swing: Q2 2026 revenue fell 28.4% year-over-year to $150.7 million, driven by a 62.0% decline in Marketing Services revenue, and results swung to a $16.7 million net loss from $13.9 million net income.
• Significant Adjusted EBITDA deterioration: Consolidated Adjusted EBITDA dropped to $20.8 million, a 59.4% year-over-year decline, with margin compressing to 13.8% from 24.3%, reflecting weaker profitability across both SaaS and Marketing Services.

Filing Explained

The restructuring is announced, not complete: only approximately 10% of expected charges had been incurred by August 4, 2026.

Thryv used this Form 8-K to report a material event and furnish its second-quarter results and investor presentation; the materials were furnished rather than treated as filed under Section 18. The restructuring plan is announced but not complete: it is expected to add $20 million to $25 million of charges before anticipated annual cost savings of $55 million to $60 million after completion.

About 10% of the expected restructuring and related charges had already been incurred by August 4, 2026; the remaining charges are expected to be recognized over the second half of 2026 and 2027. The disclosed mechanics therefore change the planned cost structure but do not disclose a new share issuance or other ownership change for existing common holders.

The named resolution points are recognition of the remaining restructuring charges in the second half of 2026 and 2027, followed by whether the anticipated savings build to $55 million to $60 million upon completion.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Total Revenue: $150.7 million Q2 2026 Net (Loss) Income: $16.7 million net loss Q2 2026 Adjusted EBITDA: $20.8 million +5 more

8 metrics

Q2 2026 Total Revenue $150.7 million Three months ended June 30, 2026; down 28.4% year-over-year from $210.5 million

Q2 2026 Net (Loss) Income $16.7 million net loss Three months ended June 30, 2026; compared with $13.9 million net income in Q2 2025

Q2 2026 Adjusted EBITDA $20.8 million Three months ended June 30, 2026; Adjusted EBITDA margin 13.8% versus 24.3% a year earlier

Q2 2026 SaaS Revenue $114.5 million Three months ended June 30, 2026; 76% of total revenue and 0.5% lower year-over-year

Q2 2026 SaaS ARPU $394 per month Second quarter 2026 SaaS monthly Average Revenue per Unit; up 11.9% year-over-year

Restructuring Charges approximately $20–$25 million Expected total restructuring and related charges associated with the new cost realignment plan

Target Annual Cost Savings $55–$60 million Projected gross annualized cost savings beginning in 2027 upon completion of restructuring

2026 Revenue Guidance $614.0–$620.0 million Full year 2026 total company revenue outlook provided as of August 4, 2026

Key Terms

Adjusted EBITDA, Adjusted Gross Profit, Free Cash Flow, Seasoned Net Revenue Retention, +2 more

6 terms

Adjusted EBITDA financial

"We define Adjusted EBITDA as Net income (loss) plus Interest expense, Income tax expense (benefit)..."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted Gross Profit financial

"We define Adjusted Gross Profit as Gross profit adjusted to exclude the impact of Depreciation and amortization..."

Adjusted gross profit is a company’s revenue from selling goods or services minus the direct costs of producing them, with one-time or unusual items added back or removed to show the core margin. Investors use it like a cleaned-up snapshot of how much a business actually earns on its products, similar to measuring body weight after removing heavy clothes, because it helps compare performance across periods and companies without noise from rare events.

Free Cash Flow financial

"The following table sets forth a reconciliation of Free Cash Flow to its most directly comparable GAAP measure..."

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Seasoned Net Revenue Retention financial

"Seasoned Net Revenue Retention was 90% for the second quarter of 2026..."

Seasoned net revenue retention measures how much recurring revenue a company keeps and grows from its existing, established customers over a set period (often a year), excluding revenue from brand-new customers. It shows whether mature customers are staying, buying more, or shrinking their spending; think of it like checking how much fruit a long-planted orchard produces year after year rather than counting newly planted trees. Investors use it to judge revenue stability and the efficiency of upselling versus churn.

Quality customers financial

"Quality customers, defined as those contributing more than $400 in monthly recurring revenue..."

Unbilled receivables financial

"Unbilled receivables represent print revenue earned but not yet invoiced and are expected to result in future cash collections..."

Amounts for goods or services a company has delivered or completed but has not yet invoiced the customer; think of it as work done where the bill hasn’t gone out. For investors, unbilled receivables signal revenue that is likely to become billed and collected in the near term, affecting future cash flow and earnings, but large or growing balances can also indicate billing delays, contract disputes, or collectability risks.

Earnings Snapshot

Q2 2026 Revenue: $150.7 million · Guidance included

Three and six months ended June 30, 2026

Q2 2026 Revenue $150.7 million 28.4% year-over-year decline from $210.5 million in Q2 2025

Q2 2026 Net (Loss) Income $16.7 million net loss from $13.9 million net income in Q2 2025 to a net loss in Q2 2026

Q2 2026 Adjusted EBITDA $20.8 million 59.4% year-over-year decline from $51.2 million in Q2 2025

Q2 2026 Free Cash Flow $16.7 million down from $21.8 million in Q2 2025

Guidance

For full year 2026 Thryv expects total revenue of $614.0–$620.0 million, SaaS revenue of $453.0–$457.0 million, Marketing Services revenue of $161.0–$163.0 million, and Adjusted EBITDA of $73.0–$77.0 million.

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Understanding 8-K Material Events →

Available on EDGAR 08/04/2026 - 07:30 AM Accepted by SEC EDGAR 08/04/2026 - 07:30 AM Learn about SEC filing dates

FAQ

How did Thryv (THRY) perform financially in Q2 2026?

Thryv generated $150.7 million in Q2 2026 revenue, down from $210.5 million a year earlier, and reported a net loss of $16.7 million versus $13.9 million net income in Q2 2025, as Marketing Services revenue declined sharply and margins compressed.

What were Thryv (THRY) SaaS segment results and metrics in Q2 2026?

SaaS revenue was $114.5 million, slightly below Q2 2025, and represented 76% of total revenue. Thryv reported about 95,000 SaaS clients, Seasoned Net Revenue Retention of 90%, and monthly SaaS ARPU of $394, up 11.9% year-over-year.

What restructuring plan did Thryv (THRY) announce with its Q2 2026 results?

Thryv outlined a restructuring to align its cost structure with a SaaS model, expecting $20–$25 million in total charges and $55–$60 million in gross annualized cost savings beginning in 2027, which management expects to support higher Adjusted EBITDA margins and free cash flow.

What guidance did Thryv (THRY) provide for full year 2026?

For 2026, Thryv guides to total revenue of $614.0–$620.0 million and Adjusted EBITDA of $73.0–$77.0 million. Within this, SaaS revenue is projected at $453.0–$457.0 million and Marketing Services revenue at $161.0–$163.0 million.

How profitable was Thryv (THRY) on an Adjusted EBITDA basis in Q2 2026?

Consolidated Adjusted EBITDA was $20.8 million in Q2 2026, compared with $51.2 million a year earlier, yielding an Adjusted EBITDA margin of 13.8%. SaaS Adjusted EBITDA was $13.6 million (11.8% margin) and Marketing Services Adjusted EBITDA was $7.3 million (20.0% margin).

What was Thryv (THRY) free cash flow performance in the first half of 2026?

For the six months ended June 30, 2026, Thryv generated $27.4 million in net cash from operating activities and spent $16.1 million on fixed assets and capitalized software, resulting in free cash flow of $11.2 million, up from $4.2 million in the prior-year period.

0001556739FALSE00015567392026-08-042026-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026

THRYV HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware			001-35895			13-2740040
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)
1301 Municipal Way, Suite 220 Grapevine, TX						76051
(Address of Principal Executive Offices)						(Zip Code)

(972) 453-7000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

THRY

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 4, 2026, Thryv Holdings, Inc. (the “Company”) issued a press release announcing its earnings for the six months ended June 30, 2026. This press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

The Company will hold a conference call on August 4, 2026. A copy of the investor presentation to be discussed at the conference call is being furnished as Exhibit 99.2, and is incorporated herein by reference and available on the Company’s website.

The information in Item 2.02 and Item 7.01 of this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 2.02 and Item 7.01 of this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description

99.1			Press release, dated August 4, 2026, issued by Thryv Holdings, Inc.
99.2			Investor Presentation
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			THRYV HOLDINGS, INC.
Date: August 4, 2026			By:			/s/ Paul D. Rouse
			Name: Paul D. Rouse
			Title: Chief Financial Officer, Executive Vice President and Treasurer

Exhibit 99.1

Thryv Reports Second Quarter 2026 Results and Launches Thryv Growth Platform

–Q2 SaaS Revenue Grows to 76% of Total Revenue

–Q2 SaaS Monthly ARPU Increases 12% Year-Over-Year to $394

–Company Announces Strategic Restructuring Plan to Improve Operating Efficiencies

DALLAS, August 4, 2026 – Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”), the provider of Thryv®, an AI-native growth platform for local service businesses, reported results for the second quarter of 2026.

"Our second quarter marked another step forward in the transformation of our business, with SaaS now representing 76% of our revenue and ARPU growing 12% year-over-year," said Joe Walsh, Thryv Chairman and CEO. "Our SaaS profile now reflects our deliberate focus on the newly launched Thryv Growth Platform, the first platform purpose-built for the small business owner with AI running underneath to turn every lead into measurable revenue. We are also announcing a restructuring plan that realigns our cost structure to focus on a SaaS operating model and extend the agentic AI capabilities embedded in Thryv's customer-facing platform. Looking ahead, we remain focused on reaccelerating the growth of our SaaS business. We are announcing today that we have partnered Ooma and plan to establish a strategic partnership with Wix, with a shared focus on helping small businesses succeed."

The Company expects to incur total restructuring and related charges of approximately $20 million to $25 million, approximately 10% of which has already been incurred, with approximately 40% expected to be recognized in the second half of 2026 and the remaining 50% to be recognized in 2027. Cost savings are anticipated to begin in 2027, building to approximately $55 million to $60 million in gross annualized cost savings upon completion.

“We remain focused on optimizing the Thryv Growth Platform, a unified, AI-native growth offering, concentrating investments to scale the business and expand profitability. These initiatives are expected to be accretive to Adjusted EBITDA margins in the future, while strengthening the Company's free cash flow generation,” stated Paul Rouse, Chief Financial Officer.

Second Quarter Financial 2026 Highlights:

•SaaS revenue was $114.5 million, a decrease of 0.5% year-over-year, of which Market, Sell, Grow initiatives grew 21%1 year-over-year, offset by headwinds in legacy CRM products

•Marketing Services revenue was $36.2 million

•Consolidated total revenue was $150.7 million

•Consolidated net loss was $16.7 million, or $(0.38) per diluted share; compared to net income of $13.9 million, or $0.31 per diluted share, for the second quarter of 2025

•Consolidated Adjusted EBITDA was $20.8 million, representing an Adjusted EBITDA margin of 13.8%

1 Excludes Keap. Market, Sell, Grow initiatives include Marketing Center and additional marketing value-added services.

•SaaS Adjusted EBITDA was $13.6 million, representing an Adjusted EBITDA margin of 11.8%

•Marketing Services Adjusted EBITDA was $7.3 million, representing an Adjusted EBITDA margin of 20.0%

•Consolidated Gross Profit was $94.6 million

•Consolidated Adjusted Gross Profit2 was $99.2 million

•SaaS Gross Profit was $72.7 million, representing a Gross Margin of 63.5%

•SaaS Adjusted Gross Profit1 was $76.2 million, representing an Adjusted Gross Margin of 66.6%

Recent Business Highlights and Metrics

•Quality customers3 (defined as those contributing more than $400 in monthly recurring revenue) accounted for 72% of SaaS revenue3 in the second quarter of 2026

•SaaS clients were 95 thousand at the end of the second quarter of 2026

•Seasoned Net Revenue Retention4 was 90% for the second quarter of 2026

•SaaS monthly Average Revenue per Unit (“ARPU”)5 was $394 for the second quarter of 2026, an increase of 11.9% year-over-year

Outlook

Based on information available as of August 4, 2026, Thryv is issuing guidance6 for the third quarter of 2026 and updating full year 2026 as indicated below:

															3rd Quarter						4th Quarter						Full Year
(in millions)															2026						2026						2026
SaaS Revenue															$111.0 - $112.0						$111.0 - $114.0						$453.0 - $457.0
SaaS Adjusted EBITDA7															$8.5 - $9.5						$9.0 - $10.0						$42.0 - $44.0

															3rd Quarter						4th Quarter						Full Year
(in millions)															2026						2026						2026
Marketing Services Revenue															$34.0 - $35.0						$40.0 - $41.0						$161.0 - $163.0
Marketing Services Adjusted EBITDA7															$5.0 - $6.0						$5.5 - $6.5						$31.0 - $33.0

2 Defined as Gross profit adjusted to exclude the impact of depreciation and amortization expense and stock-based compensation expense.

3 Excludes customers and revenue attributed to the Keap acquisition.

4 Seasoned NRR is calculated by dividing the revenue of all clients that have had one or more SaaS offerings for at least two years as of the last month of the year or quarter, as applicable, by the same clients' revenue one year ago. For each reporting quarter, the weighted-average monthly NRR from all the months in the quarter are reported. Seasoned NRR excludes clients acquired in the Keap acquisition.

5 Defined as total client billings for a particular month divided by the number of clients that have one or more revenue-generating solutions in that same month. This is a weighted-average calculation and inclusive of the impact from the Keap acquisition.

6 These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause our actual results to materially differ from these forward-looking statements.

7 SaaS Adjusted EBITDA and Marketing Services Adjusted EBITDA are forward-looking non-GAAP financial measurers. We calculate forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. We have not provided quantitative reconciliations of these forward-looking non-GAAP financial measures because the excluded items are not available on a prospective basis without unreasonable effort.

Earnings Conference Call Information

Thryv will host a conference call on Tuesday, August 4, 2026 at 8:30 a.m. (Eastern Time) to discuss the Company's second quarter 2026 results.

To listen to this conference call, please use this link. After registering, a confirmation email will be sent, including access details. We recommend registering a day in advance or at a minimum thirty minutes prior to the start of the call. A live webcast will also be available on the Investor Relations section of the Company's website at investor.thryv.com.

Thryv Holdings, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive (Loss) Income

			Three Months Ended												Six Months Ended
			June 30,												June 30,
(in thousands, except share and per share data)			2026						2025						2026						2025
Revenue			$	150,728					$	210,470					$	318,412					$	391,841
Cost of services			56,168						63,850						114,596						125,933
Gross profit			94,560						146,620						203,816						265,908
Operating expenses:
Sales and marketing			47,038						56,063						94,986						115,905
Research and development			7,509						8,661						18,940						18,870
General and administrative			41,156						52,356						86,975						104,627
Total operating expenses			95,703						117,080						200,901						239,402
Operating (loss) income			(1,143)						29,540						2,915						26,506
Other income (expense):
Interest expense			(5,035)						(5,981)						(9,176)						(12,048)
Interest expense, related party			(2,483)						(2,971)						(4,949)						(5,977)
Net periodic pension cost			(357)						(778)						(702)						(1,546)
Other income			(446)						2,557						987						2,949
(Loss) income before income tax expense			(9,464)						22,367						(10,925)						9,884
Income tax expense			(7,196)						(8,436)						(1,193)						(5,571)
Net (loss) income			$	(16,660)					$	13,931					$	(12,118)					$	4,313
Other comprehensive loss:
Foreign currency translation adjustment, net of tax			(114)						(72)						(509)						(259)
Comprehensive (loss) income			$	(16,774)					$	13,859					$	(12,627)					$	4,054
Net (loss) income per common share:
Basic			$	(0.38)					$	0.32					$	(0.27)					$	0.10
Diluted			$	(0.38)					$	0.31					$	(0.27)					$	0.10
Weighted-average shares used in computing basic and diluted net (loss) income per common share:
Basic			44,358,330						43,744,144						44,283,478						43,579,171
Diluted			44,358,330						44,303,331						44,283,478						44,586,162

Thryv Holdings, Inc. and Subsidiaries

Consolidated Balance Sheets

(in thousands, except share data)			June 30, 2026						December 31, 2025
Assets
Current assets
Cash and cash equivalents			$	9,136					$	10,752
Accounts receivable, net of allowance of $13,144 in 2026 and $13,830 in 2025			127,756						136,394
Contract assets, net of allowance of $2 in 2026 and $2 in 2025			622						411
Taxes receivable			1,172						8,134
Deferred costs			8,243						11,548
Prepaid expenses and other current assets			11,041						11,618
Total current assets			157,970						178,857
Fixed assets and capitalized software, net			49,242						50,885
Goodwill			253,809						253,809
Intangible assets, net			22,979						25,929
Deferred tax assets			137,604						133,221
Other assets			32,528						45,886
Total assets			$	654,132					$	688,587
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable			$	5,509					$	9,764
Accrued liabilities			88,753						91,246
Current portion of unrecognized tax benefits			1,847						28,303
Contract liabilities			24,820						28,875
Current portion of Term Loan			21,000						10,500
Current portion of Term Loan, related party			14,000						7,000
Other current liabilities			2,518						3,905
Total current liabilities			158,447						179,593
Term Loan, net			115,886						125,419
Term Loan, net, related party			78,788						85,448
ABL Facility			14,057						25,120
Pension obligations, net			41,425						44,171
Other liabilities			33,967						10,697
Total long-term liabilities			284,123						290,855
Commitments and contingencies
Stockholders' equity
Common stock - $0.01 par value, 250,000,000 shares authorized; 72,970,119 shares issued and 44,417,798 shares outstanding at June 30, 2026; and 72,002,129 shares issued and 43,815,268 shares outstanding at December 31, 2025			730						720
Additional paid-in capital			1,310,845						1,303,144
Treasury stock - 28,552,321 shares at June 30, 2026 and 28,186,861 shares at December 31, 2025			(499,764)						(498,103)
Accumulated other comprehensive loss			(16,020)						(15,511)
Accumulated deficit			(584,229)						(572,111)
Total stockholders' equity			211,562						218,139
Total liabilities and stockholders' equity			$	654,132					$	688,587

Thryv Holdings, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

			Six Months Ended June 30,
(in thousands)			2026						2025
Cash Flows from Operating Activities
Net (loss) income			$	(12,118)					$	4,313
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization			20,060						21,707
Amortization of deferred commissions			3,046						6,944
Amortization of debt issuance costs			1,465						1,648
Deferred income taxes			(4,116)						2,310
Provision for credit losses and service credits			6,734						9,020
Stock-based compensation expense			7,537						13,745
Net periodic pension cost			702						1,546
Gain on foreign currency exchange rates			(962)						(2,787)
Other			2						38
Changes in working capital items, excluding acquisitions:
Accounts receivable			24,677						15,392
Prepaid expenses and other assets			(389)						(16,493)
Accounts payable and accrued liabilities			(33,831)						(20,515)
Contract liabilities			(4,443)						(13,748)
Other liabilities			18,990						(4,045)
Net cash provided by operating activities			27,354						19,075
Cash Flows from Investing Activities
Additions to fixed assets and capitalized software			(16,121)						(14,855)
Other			—						(143)
Net cash used in investing activities			(16,121)						(14,998)
Cash Flows from Financing Activities
Payments of Term Loan			—						(15,750)
Payments of Term Loan, related party			—						(10,500)
Proceeds from ABL Facility			154,389						206,317
Payments of ABL Facility			(165,451)						(190,292)
Principal payments on finance lease obligations			(436)						—
Other			(1,486)						165
Net cash used in financing activities			(12,984)						(10,060)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			61						592
Decrease in cash, cash equivalents and restricted cash			(1,690)						(5,391)
Cash, cash equivalents and restricted cash, beginning of period			10,869						17,760
Cash, cash equivalents and restricted cash, end of period			$	9,179					$	12,369
Supplemental Information
Cash paid for interest			$	13,438					$	16,480
Cash (received) paid for income taxes, net			$	(3,969)					$	3,373

Segment Information

The following tables summarize the operating results of the Company's reportable segments:

			Three Months Ended June 30,												Change
(dollars in thousands)			2026						2025						Amount						%
Revenue
SaaS			$	114,480					$	115,005					$	(525)					(0.5)		%
Marketing Services			36,248						95,465						(59,217)						(62.0)		%
Total Revenue			$	150,728					$	210,470					$	(59,742)					(28.4)		%
Adjusted EBITDA
SaaS			$	13,562					$	23,393					$	(9,831)					(42.0)		%
Marketing Services			7,263						27,839						(20,576)						(73.9)		%
Consolidated Adjusted EBITDA8			$	20,825					$	51,232					$	(30,407)					(59.4)		%

			Six Months Ended June 30,												Change
(dollars in thousands)			2026						2025						Amount						%
Revenue
SaaS			$	231,218					$	226,134					$	5,084					2.2		%
Marketing Services			87,194						165,707						(78,513)						(47.4)		%
Total Revenue			$	318,412					$	391,841					$	(73,429)					(18.7)		%
Adjusted EBITDA
SaaS			$	24,378					$	34,208					$	(9,830)					(28.7)		%
Marketing Services			20,511						37,925						(17,414)						(45.9)		%
Consolidated Adjusted EBITDA8			$	44,889					$	72,133					$	(27,244)					(37.8)		%

8 Consolidated Adjusted EBITDA is equal to SaaS Adjusted EBITDA and Marketing Services Adjusted EBITDA. See Non-GAAP Measures below for a reconciliation of Consolidated Adjusted EBITDA to Net income (loss).

Non-GAAP Measures

Our results included in this press release include Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Gross Profit, which are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”).

We have included Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Gross Profit because management believes they provide useful information to investors in gaining an overall understanding of our current financial performance and provide consistency and comparability with past financial performance. Specifically, we believe Adjusted EBITDA provides useful information to management and investors by excluding certain non-operating items that we believe are not indicative of our core operating results. In addition, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Gross Profit are used by management for budgeting and forecasting as well as measuring the Company’s performance. We believe Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Gross Profit provide investors with the financial measures that closely align with our internal processes.

We define Adjusted EBITDA (“Adjusted EBITDA”) as Net income (loss) plus Interest expense, Income tax expense (benefit), Depreciation and amortization expense, Restructuring and integration expenses, Stock-based compensation expense, and non-operating expenses, such as Net periodic pension cost and certain unusual and non-recurring charges that might have been incurred. Adjusted EBITDA should not be considered as an alternative to Net income (loss) as a performance measure. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. We define Adjusted Gross Profit (“Adjusted Gross Profit”) as Gross profit adjusted to exclude the impact of Depreciation and amortization expense and Stock-based compensation expense.

Non-GAAP financial information has limitations as an analytical tool and is presented for supplemental informational purposes only. Such information should not be considered a substitute for financial information presented in accordance with U.S. GAAP and may be different from similarly-titled non-GAAP measures used by other companies.

The following is a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure, Net (loss) income:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2026						2025						2026						2025
Reconciliation of Adjusted EBITDA
Net (loss) income			$	(16,660)					$	13,931					$	(12,118)					$	4,313
Interest expense			7,518						8,952						14,125						18,025
Depreciation and amortization expense			10,894						10,191						20,060						21,707
Stock-based compensation expense			2,787						6,008						7,537						13,745
Restructuring and integration expenses (1)			8,288						5,493						14,378						10,175
Income tax expense (benefit)			7,196						8,436						1,193						5,571
Net periodic pension cost (2)			357						778						702						1,546
Other (3)			445						(2,557)						(988)						(2,949)
Adjusted EBITDA			$	20,825					$	51,232					$	44,889					$	72,133

(1)For the three and six months ended June 30, 2026 and 2025, expenses relate to periodic efforts to enhance efficiencies and reduce costs, and include severance benefits, and costs associated with abandoned facilities and system consolidation. For more information on our restructuring and integration expenses, please see our Q2 2026 Quarterly Report on Form 10-Q.

(2)Net periodic pension cost is primarily from our non-contributory defined benefit pension plans that are currently frozen and incur no additional service costs.

(3)Other primarily includes foreign exchange-related (income) expense.

The following tables set forth reconciliations of Adjusted Gross Profit and Adjusted Gross Margin, to their most directly comparable GAAP measures, Gross Profit and Gross Margin:

			Three Months Ended June 30, 2026
(in thousands)			SaaS						Marketing Services						Total
Reconciliation of Adjusted Gross Profit
Gross Profit			$	72,745					$	21,815					$	94,560
Plus:
Depreciation and amortization expense			3,449						1,099						4,548
Stock-based compensation expense			51						18						69
Adjusted Gross Profit			$	76,245					$	22,932					$	99,177
Gross Margin			63.5		%				60.2		%				62.7		%
Adjusted Gross Margin			66.6		%				63.3		%				65.8		%

			Three Months Ended June 30, 2025
(in thousands)			SaaS						Marketing Services						Total
Reconciliation of Adjusted Gross Profit
Gross Profit			$	82,911					$	63,709					$	146,620
Plus:
Depreciation and amortization expense			2,118						1,754						3,872
Stock-based compensation expense			93						73						166
Adjusted Gross Profit			$	85,122					$	65,536					$	150,658
Gross Margin			72.1		%				66.7		%				69.7		%
Adjusted Gross Margin			74.0		%				68.6		%				71.6		%

			Six Months Ended June 30, 2026
(in thousands)			SaaS						Marketing Services						Total
Reconciliation of Adjusted Gross Profit
Gross Profit			$	148,377					$	55,439					$	203,816
Plus:
Depreciation and amortization expense			5,946						2,186						8,132
Stock-based compensation expense			98						39						137
Adjusted Gross Profit			$	154,421					$	57,664					$	212,085
Gross Margin			64.2		%				63.6		%				64.0		%
Adjusted Gross Margin			66.8		%				66.1		%				66.6		%

			Six Months Ended June 30, 2025
(in thousands)			SaaS						Marketing Services						Total
Reconciliation of Adjusted Gross Profit
Gross Profit			$	161,681					$	104,227					$	265,908
Plus:
Depreciation and amortization expense			4,716						3,381						8,097
Stock-based compensation expense			177						142						319
Adjusted Gross Profit			$	166,574					$	107,750					$	274,324
Gross Margin			71.5		%				62.9		%				67.9		%
Adjusted Gross Margin			73.7		%				65.0		%				70.0		%

The following table sets forth a reconciliation of Free Cash Flow to its most directly comparable GAAP measure, Net cash provided by operating activities:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2026						2025						2026						2025
Reconciliation of Free Cash Flow
Net cash provided by operating activities			$	25,881					$	29,556					$	27,354					$	19,075
Additions to fixed assets and capitalized software			(9,195)						(7,770)						(16,121)						(14,855)
Free Cash Flow			$	16,686					$	21,786					$	11,233					$	4,220

Supplemental Financial Information

The following supplemental financial information provides Revenue, Net Income (Loss), Net Income (Loss) Margin, Adjusted EBITDA and Adjusted EBITDA Margin by our (i) SaaS business and (ii) Marketing Services business. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP.

We believe that these non-GAAP financial measures provide useful information about our global SaaS and Marketing Services financial performance, enhance the overall understanding of our global SaaS and Marketing Services past financial performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods.

			Three Months Ended June 30, 2026
(dollars in thousands)			SaaS						Marketing Services						Total
Revenue			$	114,480					$	36,248					$	150,728
Net Loss															(16,660)
Net Loss Margin															(11.1)		%
Adjusted EBITDA			13,562						7,263						20,825
Adjusted EBITDA Margin			11.8		%				20.0		%				13.8		%

			Three Months Ended June 30, 2025
(dollars in thousands)			SaaS						Marketing Services						Total
Revenue			$	115,005					$	95,465					$	210,470
Net Income															13,931
Net Income Margin															6.6		%
Adjusted EBITDA			23,393						27,839						51,232
Adjusted EBITDA Margin			20.3		%				29.2		%				24.3		%

			Six Months Ended June 30, 2026
(dollars in thousands)			SaaS						Marketing Services						Total
Revenue			$	231,218					$	87,194					$	318,412
Net Loss															(12,118)
Net Loss Margin															(3.8)		%
Adjusted EBITDA			24,378						20,511						44,889
Adjusted EBITDA Margin			10.5		%				23.5		%				14.1		%

			Six Months Ended June 30, 2025
(dollars in thousands)			SaaS						Marketing Services						Total
Revenue			$	226,134					$	165,707					$	391,841
Net Income															4,313
Net Income Margin															1.1		%
Adjusted EBITDA			34,208						37,925						72,133
Adjusted EBITDA Margin			15.1		%				22.9		%				18.4		%

Forward-Looking Statements

Certain statements contained herein are not historical facts, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. Statements that include the words “may”, “will”, “could”, “should”, “would”, “believe”, “anticipate”, “forecast”, “estimate”, “expect”, “preliminary”, “intend”, “plan”, “target”, “project”, “outlook”, “future”, “forward”, “guidance” and similar statements of a future or forward-looking nature identify forward-looking statements. These statements are not guarantees of future performance. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the risks related to the following: significant competition for our Marketing Services solutions and SaaS offerings, which include companies that use components of our SaaS offerings provided by third parties; our ability to maintain profitability; our ability to manage our growth effectively; our ability to transition our Marketing Services clients to our Thryv platform, maintain transitioned clients on that platform and sell them additional or upgraded products, sell our platform into new markets or further penetrate existing markets; our ability to maintain our strategic relationships with third-party service providers; internet search engines and portals potentially terminating or materially altering their agreements with us; our ability to keep pace with rapid technological changes and evolving industry standards; our SMBs clients potentially opting not to renew their agreements with us or renewing at lower spend; potential system interruptions or failures, including cybersecurity breaches, identity theft, data loss, unauthorized access to data or other disruptions that could compromise our information; our potential failure to identify suitable acquisition candidates and consummate such acquisitions; our ability to complete acquisitions and the successful integration of such acquisitions, and any failure of an acquired business to achieve its plans and objectives or realize any expected benefit from any such acquisition; the potential loss of one or more key employees or our inability to attract and to retain highly skilled employees; our ability to maintain the compatibility of our Thryv platform with third-party applications; our ability to successfully expand our operations and current offerings into new markets, including internationally, or further penetrate existing markets; our potential failure to provide new or enhanced functionality and features; our potential failure to comply with applicable privacy, security and data laws, regulations and standards; potential changes in regulations governing privacy concerns and laws or other domestic or foreign data protection regulations; our potential failure to meet service level commitments under our client contracts; our potential failure to offer high-quality or technical support services; our Thryv platform and add-ons potentially failing to perform properly; our use of artificial intelligence in our business, and challenges with properly managing its use, could result in reputational harm, competitive harm, and legal liability; the potential impact of future labor negotiations; our ability to protect our intellectual property rights, proprietary technology, information, processes, and know-how; rising inflation and our ability to control costs, including operating expenses; general macro-economic conditions, including a recession or an economic slowdown in the U.S. or internationally; adverse tax laws

or regulations or potential changes to existing tax laws or regulations; costs, liabilities and reputational harm resulting from regulatory investigations, including the subpoena from the Division of Enforcement of the Securities and Exchange Commission (the “SEC”); volatility and weakness in bank and capital markets; and costs, obligations and liabilities incurred as a result of and in connection with being a public company as well as the risks and uncertainties set forth in the Company's most recent Annual Report on Form 10-K filed with the SEC. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by such cautionary statements.

If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. For these reasons, we caution you against relying on forward-looking statements. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. These forward-looking statements speak only as of the date hereof and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Thryv

Thryv (NASDAQ: THRY) is an AI-native growth platform that helps small businesses (SMBs) get discovered online, identify their best customer leads, and grow revenue faster with ROI insights. Platform features include AI-powered websites, AI Lead Insights, and integrations with the CRMs service businesses are already using. Thryv makes growth‑focused software accessible to the plumber, salon owner, contractor, lawyer, accountant and more. Approximately 100,000 businesses globally use Thryv software to get found, win customers, and invest smarter. For more information, visit www.thryv.com

Media Contact:

Julie Murphy

Thryv, Inc.

617.967.5426

julie.murphy@thryv.com

Investor Contact: 

Cameron Lessard 

Thryv, Inc.

cameron.lessard@thryv.com  

  ###

Exhibit 99.2 2ND QUARTER 2026

2

3

4

5 Excludes revenue attributed to the Keap acquisition made in 2024. (Year-Over-Year % Growth)

6

7

8

9

10

11

12 Q2 2026

13 FINANCIAL REVIEW Q2 SaaS Highlights 76% +21% YoY $394 +12% YoY SaaS % of Total Revenue Market, Sell Grow Revenue ARPU Quality Customer % of SaaS Revenue 67% 72% +600 bps Adjusted Gross Margin(1) Results are inclusive of the Keap acquisition made on October 31, 2024, with the exception of Market Sell, Grow and Quality Customer metrics. (1) See Appendix for a reconciliation of Gross Margin to Adjusted Gross Margin. (2) Defined as clients with greater than $400 monthly recurring revenue. Quality Customer Count(2) 18k b YoY

14 Results are inclusive of the Keap acquisition made on October 31, 2024. The SaaS percentage of revenue may fluctuate due to the timing of revenue recognized from Marketing Services print publications, which are recognized upfront for the full contract term in accordance with ASC 606. However, SaaS continues to account for the clear majority of total revenue and is expected to remain the dominant source going forward.

15

16 Total SaaS and Local Sales Generated inclusive of results from the Keap acquisition. (1) Thryv Initiated Upgrades refers to upgrades to the SaaS platform initiated by Thryv for selected Marketing Services products at no additional base cost to the converted customers.

17 2nd Quarter $ in thousands 2026 2025 YoY% SaaS Revenue $114,480 $115,005 (0.5)% Adjusted EBITDA(1) 13,562 23,393 Adjusted EBITDA Margin(2) 11.8% 20.3% Marketing Services Revenue $36,248 $95,465 (62.0)% Adjusted EBITDA(1) 7,263 27,839 Adjusted EBITDA Margin(2) 20.0% 29.2% Consolidated Revenue $150,728 $210,470 (28.4)% Net (Loss) Income (16,660) 13,931 Net (Loss) Income Margin (11.1)% 6.6% Adjusted EBITDA(1) 20,825 51,232 Adjusted EBITDA Margin(2) 13.8% 24.3% 2nd Quarter Highlights (1) Consolidated Adjusted EBITDA is equal to SaaS Adjusted EBITDA and Marketing Services Adjusted EBITDA. See the Appendix for a reconciliation to Net income (loss). (2) Equal to adjusted EBITDA divided by revenue.

18 (in millions, USD) Q3 2026 Q4 2026 FY 2026 MARKETING SERVICES REVENUE $34.0 to $35.0 $40.0 to $41.0 $161.0 to $163.0 Adjusted EBITDA $5.0 to $6.0 $5.5 to $6.5 $31.0 to $33.0 (in millions, USD) Q3 2026 Q4 2026 FY 2026 SAAS REVENUE $111.0 to $112.0 $111.0 to $114.0 $453.0 to $457.0 Adjusted EBITDA $8.5 to $9.5 $9.0 to $10.0 $42.0 to $44.0 (in millions, USD) Q3 2026 Q4 2026 FY 2026 TOTAL COMPANY REVENUE $145.0 to $147.0 $150.5 to $154.5 $614.0 to $620.0 Adjusted EBITDA $13.5 to $15.5 $14.5 to $16.5 $73.0 to $77.0 Figures may not foot due to rounding Q3 and FY 2026 Outlook

20 APPENDIX Non-GAAP Financial Reconciliation *Figures may not foot due to rounding. (in thousands) Q1-25 Q2-25 Q3-25 Q4-25 FY25 Q1-26 Q2-26 YTD 26 Net income (loss) $ (9,618) $ 13,931 $ 5,654 $ (9,660) $ 307 $ 4,542 $ (16,660) $ (12,118) Interest expense 9,073 8,952 8,585 8,148 34,758 6,607 7,518 14,125 Depreciation and amortization expense 11,516 10,191 9,615 8,137 39,459 9,166 10,894 20,060 Stock-based compensation expense 7,737 6,008 5,807 5,698 25,250 4,750 2,787 7,537 Restructuring and integration expenses 4,682 5,493 5,371 12,634 28,180 6,090 8,288 14,378 Income tax expense (benefit) (2,865) 8,436 5,817 5,348 16,736 (6,003) 7,196 1,193 Net periodic pension cost 768 778 665 6,606 8,817 345 357 702 Other (392) (2,557) (681) 1,969 (1,661) (1,433) 445 (988) Adjusted EBITDA $ 20,901 $ 51,232 $ 40,833 $ 38,880 $ 151,846 $ 24,064 $ 20,825 $ 44,889

21 Reconciliation of Adjusted Gross Profit to Gross Profit APPENDIX Three Months Ended June 30, 2026 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 72,745 $ 21,815 $ 94,560 Plus: Depreciation and amortization expense 3,449 1,099 4,548 Stock-based compensation expense 51 18 69 Adjusted Gross Profit $ 76,245 $ 22,932 $ 99,177 Gross Margin 63.5 % 60.2 % 62.7 % Adjusted Gross Margin 66.6 % 63.3 % 65.8 % Three Months Ended June 30, 2025 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 82,911 $ 63,709 $ 146,620 Plus: Depreciation and amortization expense 2,118 1,754 3,872 Stock-based compensation expense 93 73 166 Adjusted Gross Profit $ 85,122 $ 65,536 $ 150,658 Gross Margin 72.1 % 66.7 % 69.7 % Adjusted Gross Margin 74.0 % 68.6 % 71.6 % Non-GAAP Financial Reconciliation

22 Reconciliation of Adjusted Gross Profit to Gross Profit APPENDIX Non-GAAP Financial Reconciliation Six Months Ended June 30, 2026 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 148,377 $ 55,439 $ 203,816 Plus: Depreciation and amortization expense 5,946 2,186 8,132 Stock-based compensation expense 98 39 137 Adjusted Gross Profit $ 154,421 $ 57,664 $ 212,085 Gross Margin 64.2 % 63.6 % 64.0 % Adjusted Gross Margin 66.8 % 66.1 % 66.6 % Six Months Ended June 30, 2025 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 161,681 $ 104,227 $ 265,908 Plus: Depreciation and amortization expense 4,716 3,381 8,097 Stock-based compensation expense 177 142 319 Adjusted Gross Profit $ 166,574 $ 107,750 $ 274,324 Gross Margin 71.5 % 62.9 % 67.9 % Adjusted Gross Margin 73.7 % 65.0 % 70.0 %

23 APPENDIX Supplemental Financial Information The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin for our (i) Marketing Services business and (ii) SaaS business. SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. The supplement financial information also provides Free cash flow, which is a non-GAAP financial measure. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the reconciliation of these non-GAAP financial measures to the corresponding GAAP financial measures presented in the supplemental financial information or under the heading Non-GAAP Financial Reconciliation. We believe that these non-GAAP financial measures provide useful information about our global SaaS and Marketing Services financial performance, enhance the overall understanding of our global SaaS and Marketing Services past financial performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods. Three Months Ended June 30, 2026 (in thousands) SaaS Marketing Services Total Revenue $ 114,480 $ 36,248 $ 150,728 Adjusted EBITDA 13,562 7,263 20,825 Adjusted EBITDA Margin 11.8 % 20.0 % 13.8 % Three Months Ended June 30, (in thousands) 2026 2025 Net cash provided by operating activities $ 25,881 $ 29,556 Additions to fixed assets and capitalized software (9,195) (7,770) Free cash flow $ 16,686 $ 21,786 Three Months Ended June 30, 2025 (in thousands) SaaS Marketing Services Total Revenue $ 115,005 $ 95,465 $ 210,470 Adjusted EBITDA 23,393 27,839 51,232 Adjusted EBITDA Margin 20.3 % 29.2 % 24.3 %

24 APPENDIX Six Months Ended June 30, (in thousands) 2026 2025 Net cash provided by operating activities $ 27,354 $ 19,075 Additions to fixed assets and capitalized software (16,121) (14,855) Free cash flow $ 11,233 $ 4,220 Supplemental Financial Information Six Months Ended June 30, 2026 (in thousands) SaaS Marketing Services Total Revenue $ 231,218 $ 87,194 $ 318,412 Adjusted EBITDA 24,378 20,511 44,889 Adjusted EBITDA Margin 10.5 % 23.5 % 14.1 % Six Months Ended June 30, 2025 (in thousands) SaaS Marketing Services Total Revenue $ 226,134 $ 165,707 $ 391,841 Adjusted EBITDA 34,208 37,925 72,133 Adjusted EBITDA Margin 15.1 % 22.9 % 18.4 % The supplemental financial information provides Revenue, Adjusted EBITDA and Adjusted EBITDA Margin for our (i) Marketing Services business and (ii) SaaS business. SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. The supplement financial information also provides Free cash flow, which is a non-GAAP financial measure. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the reconciliation of these non-GAAP financial measures to the corresponding GAAP financial measures presented in the supplemental financial information or under the heading Non-GAAP Financial Reconciliation. We believe that these non-GAAP financial measures provide useful information about our global SaaS and Marketing Services financial performance, enhance the overall understanding of our global SaaS and Marketing Services past financial performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods.

25 1Unbilled receivables represent print revenue earned but not yet invoiced and are expected to result in future cash collections as clients are billed under contract terms. Per ASC 606 accounting policy, print revenue is recognized upfront at the time of delivery.

26 APPENDIX Definitions Definitions of key terms used in this presentation are as follows: • Adjusted EBITDA1: Defined as Net income (loss) plus Interest expense, Income tax expense (benefit), Depreciation and amortization expense, Restructuring and integration expenses, Stock-based compensation expense, and other non-operating expenses, such as Net periodic pension cost (benefit), and certain unusual and non-recurring charges that might have been incurred. • Adjusted Gross Profit and Adjusted Gross Profit Margin1: Defined as Gross profit and Gross margin, respectively, adjusted to exclude the impact of depreciation and amortization expense and stock-based compensation expense. • Average Revenue per Unit ("ARPU"): Defined as total client billings for a particular month divided by the number of clients that have one or more revenue-generating solutions in that same month. 1Results included in this presentation include Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Gross Profit, which are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please refer to the supplemental information presented in the tables in the Appendix for a reconciliation of Adjusted EBITDA to Net income (loss) and Adjusted Gross Profit to Gross profit. Both Net income (loss) and Gross profit are the most comparable GAAP financial measure to Adjusted EBITDA and Adjusted Gross Profit, respectively. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide additional tools for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. However, it is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry.

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 EX-99.1 365.0 KB
• EX-99.2 EX-99.2 20.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.7 KB