Thryv Holdings, Inc. · NASDAQ:THRY
Thryv — Q4 2025 Earnings Presentation
29 slides from Thryv's earnings presentation, Feb 26, 2026
Slide 1: 4th Quarter 2025
4TH QUARTER 2025 Exhibit 99.1
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: Leading AI-Enabled Platform: 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: Caption AI
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: Caption AI
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: Q4 and Full Year 2025
thryv Financial Review Q4 and Full Year 2025
Slide 12: 4th Quarter Highlights
4th Quarter Highlights 4th Quarter $ in thousands 2025 2024 YoY% SaaS Revenue $118,990 $104,305 14.1% Adjusted EBITDA(1) 20,043 17,276 Adjusted EBITDA Margin(2) 16.8% 16.6% Marketing Services Revenue $72,629 $82,291 (11.7)% Adjusted EBITDA(1) 18,837 12,104 Adjusted EBITDA Margin(2) 25.9% 14.7% Conso
Slide 13: Q4 SaaS Highlights
Marketing Center Revenue Revenue FINANCIAL REVIEW Q4 SaaS Highlights +14% +56% YoY YoY ARPU Adjusted Gross Margin(1) $373 70% +15% YoY Quality Customer Quality Customer % of Count(2) Revenue +18% 69% YoY +900 bps b YoY (1) See Appendix for a reconciliation of Gross Margin to Adjusted Gross Margin. (
Slide 14: Q4 SaaS Highlights
FINANCIAL REVIEW Q4 SaaS Highlights Revenue Adjusted EBITDA ($ in millions) ($ in millions) $119.0 $104.3 $20.0 $17.3 Q4-24 Q4-25 Q4-24 Q4-25 Results are inclusive of the Keap acquisition made on October 31, 2024. 14
Slide 15: SaaS percentage of revenue may fluctuate with timing of revenue recognition
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 16: 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 December 31, 2025. (1) Thryv’s "Market, Sell and Grow" (MSG) platform represents more than two thirds of billings in 4Q '25. MSG includes Mark
Slide 17: Denotes customers with paid products. Excludes clients from the Keap acquisition made on October
(1) (1) Denotes customers with paid products. Excludes clients from the Keap acquisition made on October 31, 2024. Includes upgrades to the SaaS platform initiated by Thryv for selected Marketing Services customers at no additional base cost to the converted customers. 17
Slide 18: Underlying trend of Thryv's subscriber expansion
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. 18 Total SaaS subs
Slide 19: Thryv Initiated Upgrades
1 (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. 19
Slide 20: Total Company Billings
FINANCIAL REVIEW Total Company Billings Q4-25 Q4-24 BILLINGS (YoY%) Q4-25 SaaS growth reflects Keap's SaaS Billings inclusion in the PY comparable period $117.3 $105.0 (millions)(1)(2) 51% 46% YoY % 12% 43% 43% 32% 32% 21% 20% 24% 25% 24% 20% 22% 22% 24% 13% 12% (9)% (10)% (6)% (4)% (9)% (14)% (12)%
Slide 21: Q1 and FY 2026 Outlook
Q1 and FY 2026 Outlook (in millions, USD) Q1 2026 Q2 2026 Q3 2026 Q4 2026 FY 2026 SAAS REVENUE $114.0 to $115.0 $461.0 to $471.0 Adjusted EBITDA $12.0 to $13.0 $70.0 to $75.0 (in millions, USD) Q1 2026 Q2 2026 Q3 2026 Q4 2026 FY 2026 MARKETING SERVICES REVENUE $47.0 to $48.0 $30.0 to $33.0 $32.0 to
Slide 22: Appendix
thryv Appendix
Slide 23: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation (in thousands) Q1-24 Q2-24 Q3-24 Q4-24 FY24 Q1-25 Q2-25 Q3-25 Q4-25 FY25 Net income (loss) $ 8,424 $ 5,548 $ (96,071) $ 7,883 $ (74,216) $ (9,618) $ 13,931 $ 5,654 $ (9,660) $ 307 Interest expense 13,359 12,175 11,514 9,723 46,771 9,073 8,952 8,585 8,148 34
Slide 24: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross Profit Three Months Ended December 31, 2025 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 81,736 $ 48,601 $ 130,337 Plus: Depreciation and amortiza
Slide 25: Non-GAAP Financial Reconciliation
APPENDIX Non-GAAP Financial Reconciliation Reconciliation of Adjusted Gross Profit to Gross Profit Year Ended December 31, 2025 (in thousands) SaaS Marketing Services Consolidated Reconciliation of Adjusted Gross Profit Gross profit $ 325,824 $ 206,886 $ 532,710 Plus: Depreciation and amortization e
Slide 26: Supplemental Financial Information
APPENDIX Supplemental Financial Information Three Months Ended December 31, 2025 (in thousands) SaaS Marketing Services Total Revenue $ 118,990 $ 72,629 $ 191,619 Adjusted EBITDA 20,043 18,837 38,880 Adjusted EBITDA Margin 16.8 % 25.9 % 20.3 % Three Months Ended December 31, 2024 (in thousands) SaaS
Slide 27: Supplemental Financial Information
APPENDIX Supplemental Financial Information Year Ended December 31, 2025 (in thousands) SaaS Marketing Services Total Revenue $ 461,027 $ 323,988 $ 785,015 Adjusted EBITDA 73,842 78,004 151,846 Adjusted EBITDA Margin 16.0 % 24.1 % 19.3 % Year Ended December 31, 2024 (in thousands) SaaS Marketing Ser
Slide 28: Unbilled receivables represent print revenue earned but not yet invoiced
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. 28
Slide 29: 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, Loss on early extinguishment of