Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q1 2026 Earnings Presentation
25 slides from Thryv's earnings presentation, Apr 30, 2026
Slide 1: 1st Quarter 2026
1ST QUARTER 2026 Exhibit 99.2
Slide 2: Safe Harbor
Safe Harbor thryv This Presentation may include certain forward-looking statements, that reflect our current views with respect to future events and financial performance. Such statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995 and incl
Slide 3: Investment Highlights
Leading Al-Enabled Platform Powerful Al-enabled global marketing platform that helps small businesses (SMBs) get found online faster, win more customers, and drive repeat business. Massive Market Opportunity Established and resilient service-based SMBs benefitting from cloud adoption. Global TAM > 8
Slide 4: AI Website Builder
Caption Al Al Website Builder Al Review Response Al Social Image Al Service Description Shelalaetay MARKET Get Found Online +. G Openal Gemini 2 Runware thryv s I Al Content Assistant Al Social Image aH 7 Al Lead Scoring Summary Business Growth Enabled by Al Gemini Azure G Openal
Slide 5: Proven Results for Over 100,000+ Small Businesses
thryv Proven results for over 100,000+ small businesses & ey Q +25% +61% +50% 20+ INCREASE IN NEW MORE APPOINTMENTS INCREASE IN REVENUE HOURS A CUSTOMERS BOOKED SINCE USING THRYV WEEK SAVED SOFTWARE
Slide 6: Accelerating SaaS Transition
thryv Accelerating SaaS Transition INFLECTION POINT ro, SaaS Revenue >50% Inflection point evidences SaaS Revenue and Adjusted EBITDA eclipsing Marketing Services. Forward-looking targets reflect our current outlook and are subject to change as future events and opportunities arise. ©2025 Thryy, Inc
Slide 7: Professional Results Enabled By AI
Professional Results. — Enabled By Al A © Be LF Launch Fast Be Visible Stay Optimized Expert Help Fast load = Your website loads instantly, improving conversions Schema/Sitemaps = Your business info shows up directly in Al answers
Slide 8: AI Content
Caption Al Instantly create engaging social content. Post Now & Social Media Management Al Review Response Respond to reviews across sites in seconds. Al Service Descriptions Professional listings without the writing struggle. Al Content Assistance Personalized writing assistant for customer follow-
Slide 9: AI-Driven Conversation Analysis
ae Al-Driven Conversation Analysis Al Lead Insights Summarizes & One Source Classifies Processing Summarizes, scores, Processes call audio, and classifies form submissions and conversations by chat interactions. quality. thryv Clear Outputs Al Interaction Score, Al Action Items, Al Summary, Al Class
Slide 10: AI Lead Insights
10 Al LEAD INSIGHTS Business Owners Can Quickly thryv Spot their Identify hot Track existing Avoid wasting confirmed leads that need customer time on low- wins. follow-up. inquiries. quality calls. Al Lead Insights makes it easy to focus on what matters most — the conversations that drive revenue
Slide 11: Financial Review Q1 2026
thryv Financial Review Q1 2026
Slide 12: Q1 SaaS Highlights
Marketing Center Revenue Revenue FINANCIAL REVIEW Q1 SaaS Highlights +5% +29% YoY YoY ARPU Adjusted Gross Margin(1) $378 67.0% +13% YoY Quality Customer % of Quality Customer Revenue Count(2) 70% +6% +800 bps YoY b YoY (1) See Appendix for a reconciliation of Gross Margin to Adjusted Gross Margin. (
Slide 13: SaaS Percentage of Revenue
The SaaS percentage of revenue may fluctuate due to the timing of revenue recognized from Marketing Services print publications, which are recognized upfront for the full contract term in accordance with ASC 606. However, SaaS continues to account for the clear majority of total revenue and is expec
Slide 14: Strategic Shift to the AI-Enabled Unified Growth Thryv Platform
Thryv Platform Strategic Shift Revenue1 to the AI-Enabled Unified Growth Existing SaaS Platform Portfolio Revenue2 SaaS Revenue results for the quarter ended March 31, 2026. (1) Thryv’s "Market, Sell and Grow" (MSG) platform represents more than two thirds of revenue in 1Q '26. MSG includes Marketin
Slide 15: Customers with Paid Products
(1)(2) (1) Denotes customers with paid products. (2) In line with changes to the Company's product hierarchy, websites, listing applications and other offerings are now included in the definition of a customer with multiple products. Excludes clients from the Keap acquisition made on October 31, 202
Slide 16: Thryv's Highest-Value Clients
The compelling underlying trend of Thryv’s subscriber expansion: Thryv's highest-value clients — those spending more than $400/month — are growing. (1) Quality client counts, defined as customers with $400 or more monthly spend, exclude customers resulting from the Keap acquisition. 16
Slide 17: Thryv Initiated Upgrades
(1) Thryv Initiated Upgrades refers to upgrades to the SaaS platform initiated by Thryv for selected Marketing Services products at no additional base cost to the converted customers. Total SaaS and Local Sales Generated inclusive of results from the Keap acquisition. 17
Slide 18: 1st Quarter Highlights
1st Quarter Highlights 1st Quarter $ in thousands 2026 2025 YoY% SaaS Revenue $116,738 $111,129 5.0% Adjusted EBITDA(1) 10,816 10,815 Adjusted EBITDA Margin(2) 9.3% 9.7% Marketing Services Revenue $50,946 $70,242 (27.5)% Adjusted EBITDA(1) 13,248 10,086 Adjusted EBITDA Margin(2) 26.0% 14.4% Consolid
Slide 19: Q2 and FY 2026 Outlook
Q2 and FY 2026 Outlook (in millions, USD) Q2 2026 FY 2026 SAAS REVENUE $114 to $115 $463 to $471 Adjusted EBITDA $12 to $13 $70 to $75 (in millions, USD) Q2 2026 Q3 2026 Q4 2026 FY 2026 MARKETING SERVICES REVENUE $31 to $33 $33 to $35 $42 to $44 $157 to $163 Adjusted EBITDA $3 to $4 $30 to $35 (in m
Slide 20: Appendix
thryv Appendix
Slide 21: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation (in thousands) Q1-25 Q2-25 Q3-25 Q4-25 FY25 Q1-26 Net income (loss) $ (9,618) $ 13,931 $ 5,654 $ (9,660) $ 307 $ 4,542 Interest expense 9,073 8,952 8,585 8,148 34,758 6,607 Depreciation and amortization expense 11,516 10,191 9,615 8,137 39,459 9,166 Stock-b
Slide 22: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross Profit Three Months Ended March 31, 2026 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 75,632 $ 33,624 $ 109,256 Plus: Depreciation and amortizatio
Slide 23: Supplemental Financial Information
APPENDIX Supplemental Financial Information Three Months Ended March 31, 2026 (in thousands) SaaS Marketing Services Total Revenue $ 116,738 $ 50,946 $ 167,684 Adjusted EBITDA 10,816 13,248 24,064 Adjusted EBITDA Margin 9.3 % 26.0 % 14.4 % Three Months Ended March 31, 2025 (in thousands) SaaS Market
Slide 24: Unbilled Receivables
1 Unbilled receivables represent print revenue earned but not yet invoiced and are expected to result in future cash collections as clients are billed under contract terms. Per ASC 606 accounting policy, print revenue is recognized upfront at the time of delivery. 24
Slide 25: Definitions
APPENDIX Definitions Definitions of key terms used in this presentation are as follows: • Adjusted EBITDA1: Defined as Net income (loss) plus Interest expense, Income tax expense (benefit), Depreciation and amortization expense, Restructuring and integration expenses, Stock-based compensation expens