Thryv Holdings (THRY) Q3 2026 Earnings Report

The call was broadly positive about the new AI-centered growth platform, with sales at approximately 190% of plan, 16% year-over-year growth in growth products, improving SaaS margins, higher ARPU, and expected balance-sheet benefits from the print sale. However, the near-term outlook includes revenue headwinds from exiting legacy businesses, restructuring-related reporting effects, negative Marketing Services EBITDA, a goodwill impairment, negative fourth-quarter SaaS adjusted EBITDA guidance, and lower full-year SaaS guidance. Highlights significantly outweighed the stated challenges, although management characterized the fourth quarter as messy during the transition.

For the fourth quarter, Marketing Services revenue is expected in the range of $2 million to $3 million and Marketing Services adjusted EBITDA in the range of negative $11 million and negative $12 million; for the full year, Marketing Services revenue is expected in the range of $35 million to $36 million and Marketing Services adjusted EBITDA in the range of negative $21 million and negative $22 million. For the fourth quarter, SaaS revenue is expected in the range of $110 million to $111 million and SaaS adjusted EBITDA in the range of negative $4.5 million and negative $5.5 million; for the full year, SaaS revenue guidance is a range of $453 million to $454 million and SaaS adjusted EBITDA guidance is a range of $16.5 million to $17.5 million. The reduction plan is expected to impact R&D in the quarter to the tune of a few million, the restructuring plan will run from the middle of this year to the middle of 2027, the remaining marketing services customers will either be upgraded to the software platform or cease to be customers in 2027, and the business will cease to be a reporting segment for the second half of 2027.