Loading...
•
Jun 30, 2025
Thryv Q2 2025 Earnings Report
Thryv reported strong SaaS revenue growth and exceeded guidance in the second quarter of 2025, driven by a significant increase in SaaS revenue and improved SaaS Adjusted EBITDA margin.
Key Takeaways
Thryv Holdings, Inc. delivered a solid second quarter in 2025, with SaaS revenue increasing by 48% year-over-year to $115.0 million and achieving a record SaaS Adjusted EBITDA margin of 20.3%. The company's consolidated total revenue was $210.5 million, and net income reached $13.9 million, or $0.31 per diluted share. Thryv also successfully navigated the anticipated leverage increase from its SaaS transformation and reduced term debt by $26 million.
SaaS revenue grew by 48% year-over-year to $115.0 million, with SaaS revenue excluding Keap increasing by 25% year-over-year to $97.3 million.
Consolidated net income was $13.9 million, or $0.31 per diluted share, a significant increase from $5.5 million, or $0.15 per diluted share, in Q2 2024.
Consolidated Adjusted EBITDA was $51.2 million, representing an Adjusted EBITDA margin of 24.3%, while SaaS Adjusted EBITDA reached $23.4 million with a 20.3% margin.
The company reduced its term debt by $26 million and raised its full-year 2025 Adjusted EBITDA guidance, anticipating free cash flow to ramp up in the second half of the year.
Revenue by Segment
Forward Guidance
Thryv is issuing guidance for the third quarter and full year 2025, anticipating continued SaaS revenue growth and stable Adjusted EBITDA across both segments.
Positive Outlook
- Full-year 2025 SaaS Revenue is projected to be between $460.0 million and $465.0 million.
- Full-year 2025 SaaS Adjusted EBITDA is expected to range from $70.5 million to $73.5 million.
- Third-quarter 2025 SaaS Revenue is guided between $116.0 million and $117.0 million.
- Third-quarter 2025 Marketing Services Adjusted EBITDA is projected to be between $22.0 million and $23.0 million.
- Free cash flow is expected to ramp up in the second half of the year, supporting greater financial flexibility and a stronger balance sheet.
Challenges Ahead
- Full-year 2025 Marketing Services Revenue is projected to be between $323.0 million and $325.0 million, indicating a continued decline in this segment.
- Third-quarter 2025 Marketing Services Revenue is guided between $84.0 million and $85.0 million, showing a sequential decrease from Q2 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...