Thryv Holdings, Inc. (THRY) Stock

Thryv Holdings, Inc. (THRY) is a Technology stock trading at $4.17 (as of 2026-07-27), with a market capitalization of $184.94M and a trailing P/E of 12.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Thryv Holdings, Inc. provides digital marketing solutions and cloud-based tools to the small-to-medium sized businesses (SMBs). It operates through three segments: SaaS (Software as a Service), Marketing Services, and Thryv International. The company provides Thryv, an SMB end-to-end customer experience platform; Hub by Thryv, a solution for franchisors to offer real time oversight and day-to-day management of multiple locations; Thryv Leads, an integrated local marketing and lead generation solution, as well as related services; and ThryvPay, a payment solution that allows users to get paid through credit card and ACH. It also offers print and digital solutions, including the company's print yellow pages; internet yellow pages, such as yellowpages.com, superpages.com, dexknows.com, and extended search solutions; search engine marketing solutions; and other digital media solutions, including online display and social advertising, online presence and video, and search engine optimization tools. The company was formerly known as Dex Media Holdings, Inc. and changed its name to Thryv Holdings, Inc. in July 2019. Thryv Holdings, Inc. is based in DFW Airport, Texas.

Understand Thryv Holdings, Inc.: how it makes money

Thryv Holdings provides digital marketing solutions and cloud-based tools for small-to-medium businesses (SMBs), it makes money from a mix of SaaS software and marketing services, plus Thryv International offerings.

Because Thryv combines subscription-like SaaS revenue with marketing services, the sustainability of revenue and results depends heavily on SaaS retention and expansion (Annual Recurring Revenue, Seasoned Net Revenue Retention Rate, and Average Revenue per User Expansion Rate), with profitability also affected by how much revenue comes from marketing services versus SaaS.

Revenue by segment (latest quarter)
SaaS$0.1B
Mktg Svcs$0.1B
Intl$0.1B

Business quality (Weak): Thryv shows evidence of a recurring revenue engine (Annual Recurring Revenue and strong Seasoned Net Revenue Retention Rate), but the company’s operating margin is low, so investors should focus on whether retention and expansion can support profitability while marketing services contribute to top line.

Valuation: Trades at 13× trailing earnings · $0B market cap.

Bull case

  • Recurring revenue indicators: Annual Recurring Revenue is 0.35 USD_B, and Seasoned Net Revenue Retention Rate is 93.0 percent.
  • Expansion and customer quality: Average Revenue per User Expansion Rate is 11.0 percent, and Quality Customers Share of Revenue is 69.0 percent.
  • Strong gross profitability: Gross margin is 65.2 percent for the quarter ended 2026-03-31.

Bear case

  • Low operating margin: Operating margin is 2.4 percent for the quarter ended 2026-03-31, which leaves less room for cost increases or weaker revenue mix.
  • Revenue depends on multiple streams: The business mixes SaaS revenue with Marketing Services revenue, so changes in the balance between these streams can affect overall results.
  • International exposure exists: International revenue is present (Private International Revenue is 0.05 USD_B), which can add complexity versus a single domestic revenue base.
Valuation — source: SEC EDGAR (first-party)
Price$4.17
Market Cap$184.94M
P/E Ratio12.8
EV / EBITDA4.3
Price / Book0.82
Price / Sales0.24
FCF Yield23.4%
DCF Value (model)$21.66
DCF Upside vs Price419.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$785.01M
Net Margin0.0%
Revenue Growth (YoY)-7.5%
EPS Growth (YoY)-145.5%
FCF Growth (YoY)-69.0%
Financial Health — source: SEC EDGAR
Altman Z-Score0.48 (distress)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E12.8
Sector P/E (Technology)35.0
Industry P/E (Business Services)30.1
vs Sector-63.5%
vs Industry-57.6%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderPAULSON & CO. INC. ($23.14M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOJoseph A. Walsh
Employees2,986
CountryUS
IPO Date2018-04-18

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THRY earnings history · THRY institutional & insider holders · THRY KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-27.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.