San Diego, California--(Newsfile Corp. - March 24, 2026) - Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Thryv Holdings, Inc. (NASDAQ: THRY). The investigation focuses on Thryv Holdings executive officers and whether investor losses may be recovered under federal securities laws. What if I purchased Thryv Holdings securities?If you purchased Thryv Holdings securities and suffered losses on your investment, join our investigation now: Click here to join the investigation.O ...

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Core Viewpoint - Thryv Holdings, Inc. reported a quarterly loss of $0.12 per share, significantly missing the Zacks Consensus Estimate of $0.40, and compared to earnings of $0.19 per share a year ago, indicating a substantial earnings surprise of -130.00% [1] Financial Performance - The company posted revenues of $191.62 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.43%, and showing an increase from year-ago revenues of $186.6 million [2] - Over the last four quarters, Thryv has consistently failed to exceed consensus EPS estimates, while it has topped consensus revenue estimates four times [2] Stock Performance - Thryv shares have declined approximately 35.2% since the beginning of the year, contrasting with the S&P 500's gain of 1.5% [3] - The current Zacks Rank for Thryv is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.16 on revenues of $160.05 million, and for the current fiscal year, it is $1.05 on revenues of $656.5 million [7] - The trend of earnings estimate revisions for Thryv was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - The Internet - Software industry, to which Thryv belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, VNET Group, is expected to report quarterly earnings of $0.04 per share, reflecting a year-over-year change of +500%, with revenues projected to be $380.1 million, up 23.5% from the previous year [9]

Financial Data and Key Metrics Changes - SaaS revenue increased by 14.1% to $119 million in Q4 2025, and 34.2% year-over-year to $461 million for the full year [25][26] - SaaS adjusted EBITDA margin was 16.8% in Q4 and 16% for the full year, with adjusted EBITDA increasing to $73.8 million [25][26] - SaaS ARPU reached $373, representing a 15% increase year-over-year [26] - Free cash flow was $31.1 million in 2025, expected to grow to $40 million-$50 million in 2026 [28] Business Line Data and Key Metrics Changes - Marketing Center, the fastest-growing product, grew over 50% year-over-year and accounted for two-thirds of SaaS revenue [4][16] - Multi-product adoption increased, with clients using two or more SaaS products growing to 19,000, or 23% of the base [26] - Marketing services revenue was $72.6 million for Q4 and $324 million for the full year, with a decline in billings reflecting a strategic shift [27] Market Data and Key Metrics Changes - Quality customers spending $400 a month or more grew by 3,000 or 18% year-over-year, now representing 69% of revenue [11][26] - Seasoned NRR remained flat at 94% for the quarter [26] Company Strategy and Development Direction - The company is transitioning to a unified growth platform, the Thryv Platform, set to launch in 2026, focusing on AI integration and customer outcomes [7][10] - The strategy emphasizes product-led growth, targeting larger businesses while allowing smaller businesses to engage through self-service [48][49] - The company plans to exit marketing services by 2028, with cash flows lasting through 2030 to support the transition [27] Management's Comments on Operating Environment and Future Outlook - Management expects slower growth in the near term due to the transition but anticipates re-acceleration later in the year [30] - The focus is on improving the quality of growth through organic customer acquisition, expansion, and retention [10][30] Other Important Information - The company has reduced net debt by $15 million to $251 million, with a leverage ratio of 1.7 times [28] - The integration of AI into the customer journey is a key focus, aiming to enhance user experience and operational efficiency [22][66] Q&A Session Summary Question: Adoption curve of the new platform - Management indicated that the Marketing Center has been steadily building and is well-positioned in the market, with existing customers migrating to the new platform [33][36] Question: Retention metrics and LTV dynamics of quality customers - New customers are entering at the $400+ tier, and management is working to engage legacy customers to upgrade [39][42] Question: Go-to-market approach evolution - The company plans to focus its sales efforts on larger businesses while developing a self-service model for smaller businesses [46][49] Question: Development work needed for the new platform - The new platform is currently being sold, with ongoing enhancements and a beta version expanding soon [50][51] Question: AI functionality and its value - AI is being embedded to simplify processes for small businesses, enhancing efficiency and engagement [61][66] Question: Expectations for churn during customer migration - Churn is expected to trend down as the company moves upmarket, with larger businesses showing lower churn rates [70][71]

Financial Data and Key Metrics Changes - SaaS revenue increased by 14.1% to $119 million in Q4 2025, and 34.2% year-over-year to $461 million for the full year [25][26] - SaaS adjusted EBITDA margin was 16.8% in Q4 and 16% for the full year, with adjusted gross margin at 70.4% in Q4 and 72.7% for the full year [25][26] - Free cash flow was $31.1 million in 2025, expected to grow to $40 million-$50 million in 2026 [28] Business Line Data and Key Metrics Changes - Marketing Center, the fastest-growing product, grew over 50% year-over-year and accounted for two-thirds of SaaS revenue [4][16] - Multi-product adoption increased, with clients using two or more SaaS products growing to 19,000, or 23% of the base, compared to 15,000, or 16% a year ago [26] - Marketing services revenue was $72.6 million for Q4 and $324 million for the full year, with a decline in billings reflecting a strategic shift towards SaaS [27] Market Data and Key Metrics Changes - Quality customers spending $400 a month or more grew by 3,000 or 18% year-over-year, now representing 69% of revenue in Q4, up from 60% the previous year [11][26] - Seasoned NRR remained flat at 94% for the quarter [26] Company Strategy and Development Direction - The company is transitioning from legacy print and marketing services to a leading SaaS platform for small businesses, focusing on a unified growth platform powered by AI [3][7] - The Thryv Platform will launch in 2026, integrating various functionalities to enhance customer experience and drive growth [7][10] - The strategy emphasizes product-led growth, targeting larger businesses while allowing smaller businesses to engage through self-service options [9][47] Management's Comments on Operating Environment and Future Outlook - Management expects near-term growth rates to moderate but believes the underlying quality of growth will improve as the company transitions [10][30] - The company is taking a conservative approach to guidance as it navigates the transition to the new platform [30] - Management highlighted the importance of focusing on quality customers and the metrics that truly reflect long-term business value [11][17] Other Important Information - The company plans to exit marketing services by 2028, with cash flows lasting through 2030 to support the transition [27] - The integration of AI into the platform aims to simplify processes for small businesses, enhancing customer engagement and operational efficiency [22][66] Q&A Session Summary Question: Adoption curve of the new platform - Management indicated that the new platform is already being sold and is performing well, with some cannibalization of existing products [32][36] Question: Retention metrics and LTV dynamics of quality customers - Management confirmed that new customers are entering the quality segment, with a focus on larger businesses that show higher engagement and retention [39][42] Question: Evolution of go-to-market approach - The company is shifting its focus to larger businesses for direct sales while developing a self-service model for smaller businesses [46][47] Question: Development work needed for the new platform - Management stated that the new platform is currently being sold, with ongoing enhancements and a beta version expanding soon [50][51] Question: AI functionality and its value - AI is being embedded into the platform to enhance customer experience and operational efficiency, with various applications being developed [60][66] Question: Expectations for churn during customer migration - Management expects churn to trend down as the company moves upmarket, with larger businesses showing more stability [68][71]

Financial Data and Key Metrics Changes - SaaS revenue increased by 14.1% to $119 million in Q4 2025 and grew by 34.2% year-over-year to $461 million for the full year [24][25] - SaaS adjusted EBITDA margin was 16.8% in Q4 and 16% for the full year, with adjusted EBITDA increasing to $73.8 million [24][29] - SaaS ARPU reached $373, representing a 15% increase year-over-year [25] - Free cash flow was $31.1 million in 2025, expected to grow to $40 million-$50 million in 2026 [27][28] - Net debt reduced by $15 million to $251 million, with a leverage ratio of 1.7 times [28] Business Line Data and Key Metrics Changes - SaaS revenues grew 34% year-over-year, with the Marketing Center being the fastest-growing product, more than doubling in revenue [3][4] - Marketing services revenue was $72.6 million for Q4 and $324 million for the full year, with a decline in billings reflecting a strategic shift towards SaaS [26] - Clients with two or more SaaS products grew to 19,000, or 23% of the base, compared to 15,000, or 16% a year ago [25] Market Data and Key Metrics Changes - Growth in quality customers spending $400 a month or more grew by 3,000 or 18% year-over-year, now representing 69% of revenue in Q4 [11][25] - Seasoned NRR remained flat at 94% for the quarter [25] Company Strategy and Development Direction - The company is transitioning from legacy print and marketing services to a leading SaaS platform for small businesses, focusing on a unified growth platform powered by AI [3][6] - The Thryv Platform will launch later in 2026, representing a shift from selling individual products to delivering a comprehensive solution for small businesses [6][10] - The strategy emphasizes product-led growth, targeting larger businesses while allowing smaller businesses to engage through self-service options [48][50] Management's Comments on Operating Environment and Future Outlook - Management expects slower growth in the near term due to the transition but anticipates re-acceleration later in the year [30] - The company is focused on improving the quality of growth, with a significant emphasis on retaining and expanding the base of quality customers [10][11] Other Important Information - The company plans to exit marketing services by 2028, with cash flows lasting through 2030 to support the transition to a pure software business [26] - AI is being integrated into the customer journey to enhance value and reduce the effort required for customers to see results [8][21] Q&A Session Summary Question: Adoption curve of the new platform - Management indicated that the Marketing Center has been steadily building and is well-positioned in the market, with existing customers likely to migrate to the new platform [32][34] Question: Retention metrics and LTV dynamics of quality customers - New customers are entering at the $400+ tier, and management is working to engage legacy customers to upgrade their packages [39][42] Question: Evolution of go-to-market approach - The focus will shift towards larger businesses, with a product-led growth approach for smaller businesses, minimizing direct sales efforts for them [47][50] Question: Development work needed for the new platform - The new platform is currently being sold, with ongoing enhancements and a beta version expected to expand soon [51][52] Question: Pricing tiers for the new platform - The new platform will have a streamlined pricing structure, catering to different business sizes while minimizing sales costs for smaller businesses [56][59] Question: AI functionality and its value - AI will enhance customer engagement and automate processes, making the platform easier to use for small businesses [66][70] Question: Expectations for churn during customer migration - Churn is expected to trend down as the company moves upmarket, with larger businesses showing more stability compared to smaller ones [72][76]

4 TH QUARTER 2025 Exhibit 99.1 2 3 6 4 5 7 8 9 10 Q4 and Full Year 2025 11 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% | | | Consolidated | ...

Client Transition and SaaS Growth - As of December 31, 2025, the company serves approximately 230,000 SMB clients, with SaaS being the strategic growth engine[14] - The conversion of approximately 12,000 clients from Digital marketing services to the Thryv Platform increased SaaS revenue by $9.4 million for the year ended December 31, 2025[40] - Approximately 9,000 of the converted clients from Digital marketing services remained active SaaS clients as of December 31, 2025[40] - The transition of Marketing Services clients to the Thryv Platform is expected to enhance client retention and increase customer lifetime value[45] - The company is accelerating the transition of clients from Marketing Services to the Thryv Platform, which may lead to higher client churn and impact key business metrics negatively[86] - The transition of Marketing Services clients to the Thryv Platform is expected to increase SaaS revenue, but there is no guarantee of successful client retention[86] Marketing Services Strategy - The company plans to exit the Marketing Services segment entirely by the end of 2028, with the final publication of printed directories expected in December 2028[44] - The company plans to terminate its Marketing Services solutions by the end of 2028, focusing on maximizing profitability and managing a revenue mix that includes declining services like Print[51] - In 2025, 41.3% of the company's revenue was derived from Marketing Services offerings, with a strategic decision made to terminate these solutions by the end of 2028[84] Financial Performance and Cash Flow - The company generated significant cash flow and aims to reduce debt while pursuing acquisitions to create value for stockholders[52] - The company employs a highly variable cost structure to support its SaaS business model, which is designed to generate significant cash flow[52] - The company generated revenue through subscription plans, platform extensions, payment solutions, and professional services in its SaaS segment[18] - Revenue from print services is recognized upon delivery, leading to variability based on publication cycles, with most directories on a 24-month cycle[93] - The company may incur significant expenses if it fails to meet service level commitments under client contracts, which could lead to credits or refunds[188] Competition and Market Risks - The company faces significant competition in the Marketing Services and SaaS sectors, which could impede its ability to add new clients and retain existing ones[78] - The company faces risks related to competition, including the potential for competitors to offer superior products or services, which could adversely affect market position and financial results[134] - Adverse economic conditions, including potential recessions, could materially affect the demand for marketing solutions, particularly from small and medium-sized businesses (SMBs)[138] International Expansion and Acquisitions - International market expansion is a key growth opportunity, with plans to penetrate through acquisitions and commercial arrangements, including the Keap acquisition[55] - The company executed an acquisition of Keap in October 2024, which is expected to drive significant cost synergies and new client acquisition[54] - Acquisitions are a key growth strategy, but challenges in identifying and integrating suitable candidates could adversely affect operations[106] Employee and Operational Management - As of December 31, 2025, the company had 2,729 employees, with approximately 99% being full-time[64] - The company has implemented various employee development programs, including the Emerging Leaders Program, which saw 19 employees complete it in 2025[67] - The loss of key employees or challenges in attracting skilled personnel could have a material adverse effect on the company's operations and financial condition[142] Regulatory and Compliance Challenges - The company is subject to various U.S. and international laws regarding privacy and data protection, and non-compliance could result in significant penalties and reputational harm[147] - Future regulations concerning data protection, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), may impose additional compliance burdens that could limit business operations[149] - The evolving definitions of personally identifiable information (PII) may restrict the company's ability to collect and use data, impacting service effectiveness and client acquisition[150] - Compliance with laws such as HIPAA and CCPA is critical, and failure to meet these standards could adversely affect business results[156] Technology and Security Risks - Cybersecurity breaches could materially impact business operations and client trust, leading to financial losses and reputational damage[159] - The company relies on third-party data centers, increasing vulnerability to data breaches and unauthorized access to sensitive information[159] - The company must continuously improve security controls to mitigate risks associated with data breaches and unauthorized access[163] Financial Reporting and Internal Controls - The company has identified material weaknesses in its internal control over financial reporting, which could hinder accurate financial reporting and lead to regulatory consequences[177] - As of December 31, 2025, the company had state net operating loss carryforwards that may expire unused, potentially adversely affecting its financial condition and results of operations[184] Debt and Financial Obligations - The company faces risks related to its substantial indebtedness, which could limit operational flexibility and increase vulnerability to economic changes[199] - The company may be unable to generate sufficient cash flows to meet debt service obligations, potentially requiring asset sales or refinancing[206] - A reduction in debt ratings could negatively impact access to capital markets and increase borrowing costs[209]

Exhibit 99.1 Thryv Achieves SaaS Revenue Growth of 34% in Full Year 2025, Shifts Focus to AI-Enabled "Market, Sell, Grow" Platform to Empower SMBs DALLAS, February 26, 2026 – Thryv Holdings, Inc. (NASDAQ:THRY) ("Thryv" or the "Company"), the provider of Thryv®, the leading small business marketing and sales software platform, reported an increase in SaaS revenue of 14% year-over-year in the fourth quarter of 2025 and grew 34% year-over-year for the full year 2025. Fourth Quarter Financial 2025 Highlights: F ...

Downloadable files of the press release and an audio replay of the call will be available on the Company's website after the live event. ABOUT THRYV Thryv Holdings, Inc. (NASDAQ:THRY) is the provider of the leading sales and marketing platform designed to help small businesses attract new and repeat customers. Thryv software offers SMBs everything they need to manage day-to-day operations and grow efficiently. The platform's AI-supported marketing and business automations help business owners save time, com ...