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Thryv Q3 revenue falls as legacy CRM products weigh

By Reuters News


Overview

  • AI-powered growth platform provider's Q3 revenue fell 13.5% and missed analyst expectations

  • Q3 adjusted EBITDA missed analyst expectations

  • Company posted net loss, driven by $94.8 mln non-cash goodwill impairment


Outlook

  • Thryv sees Q4 SaaS revenue between $110 mln and $111 mln

  • Company expects Q4 SaaS adjusted EBITDA of ($4.5) mln to ($5.5) mln

  • Thryv forecasts full-year 2026 SaaS revenue of $453 mln to $454 mln

  • Company expects full-year 2026 SaaS adjusted EBITDA of $16.5 mln to $17.5 mln


Result Drivers

  • PRODUCT MIX SHIFT - Growth product revenue rose 16% yr/yr, but declines in legacy CRM products weighed on SaaS revenue

  • PLATFORM ADOPTION - Co cited customer adoption of new AI-powered Thryv Growth Platform as a driver

  • BUSINESS TRANSITION - Co highlighted ongoing transition to pure-play SaaS model and exit from print directories


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$118.94 mln

$145.67 mln (4 Analysts)

Q3 Loss Per Share From Continuing Operations

$2.61

Q3 Net Loss

$103.07 mln

Q3 Adjusted EBITDA

Miss

$4.20 mln

$13.99 mln (4 Analysts)

Q3 Adjusted EBITDA Margin

3.50%

Q3 Adjusted Gross Profit

$78.40 mln

Q3 Operating Loss

$110.26 mln

Q3 Gross Profit

$73.69 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the advertising & marketing peer group is "buy."

  • Wall Street's median 12-month price target for Thryv Holdings Inc is $3.00, about 155.3% above its November 6 closing price of $1.18


Reuters Recommended Reads

  • Nov 9 - Israel's Monday.com Q3 revenue rises 19%

  • Nov 9 - UK's Kainos Group H1 revenue rises 37% on public sector contracts


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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