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.
Thryv is issuing guidance for the third quarter and full year 2025, anticipating continued SaaS revenue growth and stable Adjusted EBITDA across both segments.
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