– Q1 SaaS Revenue Increased 50% Year-Over-Year
– Q1 SaaS Revenue (Ex-Keap) Increased 24% Year-Over-Year
– Q1 SaaS Revenue over 60% of Total Revenue
– Q1 Record Seasoned NRR of 103%

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 50% year-over-year in the first quarter of 2025.

“Thryv started 2025 with strong positive momentum as SaaS revenue accelerated to over 60% of total revenue, underscoring the progress of our strategic transformation into a premier SMB software business,” said Joe Walsh, Thryv Chairman and CEO. “While we remain focused on acquiring and upgrading subscribers to the platform, we have been deepening relationships with our existing customers and expanding ARPU. We are leaning into cross-selling and anticipate continued growth as we enhance our product-led strategy and expand into new verticals. Looking ahead, the resilient customer demand we are experiencing is encouraging, and we are committed to driving sustainable, profitable growth as we continue to invest in our platform.”

First Quarter 2025 Highlights:

  • SaaS revenue was $111.1 million, a 50% increase year-over-year
  • SaaS revenue excluding Keap was $92.2 million, a 24% increase year-over-year
  • Marketing Services revenue was $70.2 million, a 56% decrease year-over-year
  • Consolidated total revenue was $181.4 million, a decrease of 22% year-over-year
  • Consolidated net loss was $9.6 million, or $(0.22) per diluted share; compared to net income of $8.4 million, or $0.22 per diluted share, for the first quarter of 2024
  • Consolidated Adjusted EBITDA was $20.9 million, representing an Adjusted EBITDA margin of 11.5%
  • SaaS Adjusted EBITDA was $10.8 million, representing an Adjusted EBITDA margin of 9.7%
  • Total Marketing Services Adjusted EBITDA was $10.1 million, representing an Adjusted EBITDA margin of 14.4%
  • Consolidated Gross Profit was $119.3 million
  • Consolidated Adjusted Gross Profit1 was $123.7 million
  • SaaS Gross Profit was $78.8 million, representing a Gross Margin of 70.9%
  • SaaS Adjusted Gross Profit2 was $81.5 million, representing an Adjusted Gross Margin of 73.3%

SaaS Metrics

  • SaaS clients increased 59% year-over-year to 111 thousand at the end of the first quarter of 2025 SaaS clients, excluding Keap, increased 37% year-over-year to 96 thousand
  • Seasoned Net Revenue Retention2 was 103% for the first quarter of 2025, an increase of 900 bps year-over-year, excluding Keap
  • SaaS monthly Average Revenue per Unit (“ARPU”)3 was $335 for the first quarter of 2025
  • ThryvPay total payment volume was $71 million, an increase of 13% year-over-year

Supplemental Financial Information

The following supplemental financial information provides Revenue, Net Income (Loss), Net Income (Loss) Margin, Adjusted EBITDA and Adjusted EBITDA Margin by our (i) SaaS business and (ii) Marketing Services business. Total SaaS Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Total Marketing Services Adjusted EBITDA and Adjusted EBITDA margin are also non-GAAP financial measures. These non-GAAP financial measures are presented for supplemental informational purposes only and are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP.

If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. For these reasons, we caution you against relying on forward-looking statements. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. These forward-looking statements speak only as of the date hereof and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Explore RevTech News for the latest advancements in Revenue, Business & Marketing Operations with insightful updates from industry experts!  

Source: https://finance.yahoo.com/news/thryv-grows-saas-revenue-first-113000831.html