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Thryv Holdings, Inc. (THRY) stock

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NASDAQ: THRY Nasdaq Advertising Next results ~November 9, 2026

C+ Fundamentals grade

Thryv Holdings, Inc. is a US-listed company in the advertising industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Thryv Holdings, Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: our cash-flow value ($14.13) was left out of our combined valuation (it is 11.35x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Thryv Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders5 buying, 0 selling15 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds76 adding, 56 cuttingOf 26 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Thryv Holdings files

Where Thryv stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $712m, down 6.2% on a year earlier, a steeper fall than the 0.1% decline a quarter earlier. That puts it 11 of 13 for growth among the advertising companies we cover. Free-cash-flow margin fell to 5.4% from 6.5% a year earlier. Operating margin widened to 4.7% from -9.1%. The diluted share count is up 11.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks.

Our model value for Thryv Holdings is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Thryv Holdings, Inc.'s trailing-twelve-month revenue fell 6.2% year on year, with a free-cash-flow margin of 5.4%. Where it stands out: gross margin of 66.1% ranks 4 of 22 advertising companies we cover.

Our discounted-cash-flow model values the business at ~$14 per share in the base case (~$9.0–$21 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 22.2% while net income grew 80.8%: a 103pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 13.8 points on a year ago.

Things to watch

  • Revenue shrinking. Revenue fell 6.2% over the last 12 months.
  • Growth slowing. The growth rate is 6.1 points lower than a quarter earlier.
  • Share dilution. Diluted shares rose 11.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 92% and a beta of 0.9 against the S&P 500.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 110.0% over 90 days.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
-$0.11 against an average estimate of -$0.11: beat by 2.0%
Revenue
$151m, down 28.4% on a year earlier
Share reaction
-42.6% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 9, 2026; average EPS estimate -$0.23

Thryv Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.8%
  • 1 week+4.2%
  • 1 month-18.4%
  • This year-79.5%
  • 1 year-83.9%
  • 5 years-96.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$712M
Operating margin
4.7%
Net margin
-2.3%
EPS (TTM, diluted)
$-0.36

Growth

Revenue growth
−6.2%
Change in growth rate
−6.1 pts
Share count change
+11.9%

Cash

Free cash flow (TTM)
$38.2M
FCF margin
5.4%
Stock pay % of revenue
2.7%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Leadership
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Thryv Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($14.13) was left out of our combined valuation (it is 11.35x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Thryv Holdings, Inc.'s free cash flow after stock-based pay ( $60.7M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Thryv Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.17 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$14 ~$9.0–$21 Left out: out of range vs price (11.40x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Thryv Holdings, Inc. with Advertising in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$82.80$85.40$13.50$41.13$19.00$20.35$14.80$6.05$1.24
Market value$4.9bn$3.7bn$456m$1.5bn$694m$707m$550m$269m$56m
+ Net debt (− = net cash)−$34m$712m$526m$551m$454m$331m$268m$243m$235m
Enterprise value$4.9bn$4.4bn$982m$2.1bn$1.1bn$1.0bn$818m$512m$290m
Multiples
Price / sales 2.8x2.6x0.4x1.3x0.6x0.8x0.7x0.3x0.1x
Price / earnings 94.5x104.6x3.1x14.8x12.8x——n/m—
Price / free cash flow 15.4x15.2x2.2x10.4x5.8x6.2x9.8x8.6x1.5x
EV / EBITDA 11.4x10.7x3.3x6.9x6.1x—42.0x5.3x4.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

42 /100

Weak moat

How hard Thryv Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 14.9% of total assets over 6 years.

  • Pricing power 12 / 20

    Gross margin has been a median 64.7%, moving by 15.1 percentage points (standard deviation) across 6 years.

  • Durability 0 / 20

    Operating margin has been a median 3.5%; its worst year was -50.1%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 9 of 9 years, at a median 10.4% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 31.2% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (57 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $146m and EPS of −$0.23 (range −$0.23 to −$0.23) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.56 −141% $616m −22%
Next −$0.02 +96% $558m −10%

Next year's EPS estimate has moved −110.0% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −214.3% on 90 days ago. In the last 30 days, 1 analyst raised Thryv Holdings, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Thryv Holdings, Inc., last 90 days
−$1.00 −$0.50 $0.00 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.49 Current fiscal year, 60 days ago: $0.49 Current fiscal year, 30 days ago: −$0.56 Current fiscal year, 7 days ago: −$0.56 Current fiscal year, Now: −$0.56 −$0.56 Next fiscal year, 90 days ago: $0.20 Next fiscal year, 60 days ago: $0.20 Next fiscal year, 30 days ago: −$0.73 Next fiscal year, 7 days ago: −$0.73 Next fiscal year, Now: −$0.02 −$0.02

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.49$0.20
60 days ago $0.49$0.20
30 days ago −$0.56−$0.73
7 days ago −$0.56−$0.73
Now −$0.56−$0.02

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.11 −$0.11 +2.0%
Mar 2026 $0.06 $0.32 +426.5%
Dec 2025 $0.29 $0.40 +36.5%
Sept 2025 $0.41 $0.32 −21.6%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Thryv Holdings, Inc.'s revenue by -6.9% next year and +0.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-17.5%, weight 45%) and the company's own record (+2.0%, weight 55%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy125%
Hold375%
Sell00%

Monthly trend

  1. Oct 2026134
  2. Sep 2026134
  3. Aug 2026134
  4. Jul 2026134

Counts of recommendations published by analysts covering Thryv Holdings, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.3%
of tradable shares
Days to cover
4.36
at average volume
Short interest, 1 month
−13%
to October 15, 2026
Held by institutions
89%
of shares
Held by insiders
6.9%
of shares
Employees
2,702
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −83.9%

$7.71 on October 31, 2025 to $1.24

ThenNowEffect
Revenue (last 12 months) $758m $712m −6.2%
P/S multiple 0.4x 0.1x −80.8%
Share count 40m 45m −10.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −93.3%

$18.53 on November 3, 2023 to $1.24

ThenNowEffect
Revenue (last 12 months) $1.1bn $712m −32.7%
P/S multiple 0.6x 0.1x −87.7%
Share count 36m 45m −18.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
THRY+205%−54%+7%−27%−59%−80%
Industry peers (median)+18%−59%+21%−10%−37%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
THRY75%25%50%50%33%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
THRY−36%−58%−36%−44%−73%−81%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since April 18, 2018: 99% from November 1, 2018 to October 19, 2026. Getting back needed a 7619% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.14 – $7.22
From 52-week high
−82.8%
vs 50-day average
−22.8%
vs 200-day average
−59.3%
Volatility (1 year)
92%
Beta vs S&P 500
0.95

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±15.7%
After a week
2 up, 10 down
typical move ±15.2%
After a month
4 up, 8 down
typical move ±19.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −42.6% +1.6% −49.8% −55.9%
April 30, 2026 +4.6% +1.3% +1.6% +12.8%
February 26, 2026 −40.8% −1.0% −15.3% −36.5%
October 30, 2025 −34.1% −0.8% −41.2% −52.2%
July 30, 2025 +8.4% −0.5% +13.3% +5.5%
May 1, 2025 −0.7% +2.2% −0.8% −4.1%
February 27, 2025 −7.4% −0.1% −9.2% −27.7%
November 7, 2024 −7.8% +1.2% −10.3% +3.6%
October 29, 2024 −20.3% −0.1% −15.2% −8.7%
August 1, 2024 −6.9% −3.3% −14.1% −6.5%
May 2, 2024 −9.2% +2.2% −11.0% −9.4%
February 22, 2024 −5.9% +2.1% −1.0% +4.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Thryv Holdings, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Thryv Holdings, Inc.
$700M $800M $900M $1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $960.2M Revenue (TTM), FY23 Q4: $917M Revenue (TTM), FY24 Q1: $905M Revenue (TTM), FY24 Q2: $877.7M Revenue (TTM), FY24 Q3: $873.7M Revenue (TTM), FY24 Q4: $824.2M Revenue (TTM), FY25 Q1: $771.9M Revenue (TTM), FY25 Q2: $758.3M Revenue (TTM), FY25 Q3: $780M Revenue (TTM), FY25 Q4: $785M Revenue (TTM), FY26 Q1: $771.3M Revenue (TTM), FY26 Q2: $711.6M $711.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $960.2M
FY23 Q4 $917M
FY24 Q1 $905M
FY24 Q2 $877.7M
FY24 Q3 $873.7M
FY24 Q4 $824.2M
FY25 Q1 $771.9M
FY25 Q2 $758.3M
FY25 Q3 $780M
FY25 Q4 $785M
FY26 Q1 $771.3M
FY26 Q2 $711.6M
Revenue growth, TTM YoY Thryv Holdings, Inc.
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -17.8% Revenue growth, TTM YoY, FY23 Q4: -23.7% Revenue growth, TTM YoY, FY24 Q1: -20.6% Revenue growth, TTM YoY, FY24 Q2: -17.0% Revenue growth, TTM YoY, FY24 Q3: -9.0% Revenue growth, TTM YoY, FY24 Q4: -10.1% Revenue growth, TTM YoY, FY25 Q1: -14.7% Revenue growth, TTM YoY, FY25 Q2: -13.6% Revenue growth, TTM YoY, FY25 Q3: -10.7% Revenue growth, TTM YoY, FY25 Q4: -4.7% Revenue growth, TTM YoY, FY26 Q1: -0.1% Revenue growth, TTM YoY, FY26 Q2: -6.2% -6.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -17.8%
FY23 Q4 -23.7%
FY24 Q1 -20.6%
FY24 Q2 -17.0%
FY24 Q3 -9.0%
FY24 Q4 -10.1%
FY25 Q1 -14.7%
FY25 Q2 -13.6%
FY25 Q3 -10.7%
FY25 Q4 -4.7%
FY26 Q1 -0.1%
FY26 Q2 -6.2%
Operating margin (TTM) Thryv Holdings, Inc.
-40% -30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -2.6% Operating margin (TTM), FY23 Q4: -21.8% Operating margin (TTM), FY24 Q1: -22.1% Operating margin (TTM), FY24 Q2: -22.7% Operating margin (TTM), FY24 Q3: -30.7% Operating margin (TTM), FY24 Q4: -4.0% Operating margin (TTM), FY25 Q1: -8.7% Operating margin (TTM), FY25 Q2: -9.1% Operating margin (TTM), FY25 Q3: 5.0% Operating margin (TTM), FY25 Q4: 7.2% Operating margin (TTM), FY26 Q1: 8.3% Operating margin (TTM), FY26 Q2: 4.7% 4.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -2.6%
FY23 Q4 -21.8%
FY24 Q1 -22.1%
FY24 Q2 -22.7%
FY24 Q3 -30.7%
FY24 Q4 -4.0%
FY25 Q1 -8.7%
FY25 Q2 -9.1%
FY25 Q3 5.0%
FY25 Q4 7.2%
FY26 Q1 8.3%
FY26 Q2 4.7%
FCF margin (TTM) Thryv Holdings, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 12.0% FCF margin (TTM), FY23 Q4: 12.5% FCF margin (TTM), FY24 Q1: 9.5% FCF margin (TTM), FY24 Q2: 9.4% FCF margin (TTM), FY24 Q3: 8.4% FCF margin (TTM), FY24 Q4: 6.8% FCF margin (TTM), FY25 Q1: 5.2% FCF margin (TTM), FY25 Q2: 6.5% FCF margin (TTM), FY25 Q3: 4.6% FCF margin (TTM), FY25 Q4: 4.0% FCF margin (TTM), FY26 Q1: 5.6% FCF margin (TTM), FY26 Q2: 5.4% 5.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 12.0%
FY23 Q4 12.5%
FY24 Q1 9.5%
FY24 Q2 9.4%
FY24 Q3 8.4%
FY24 Q4 6.8%
FY25 Q1 5.2%
FY25 Q2 6.5%
FY25 Q3 4.6%
FY25 Q4 4.0%
FY26 Q1 5.6%
FY26 Q2 5.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,481 1,278 1,444 1,815 1,784 1,421 1,109 1,113 1,202 917 824 785 712
Gross profit 1,118 920 965 1,239 — 840 670 705 780 578 537 533 471
EBITDA −178 522 −85 639 429 412 299 295 188 −137 19 96 71
Operating income −430 103 −850 −4 162 206 152 190 99 −200 −33 57 33
Net income −519 41 −819 −371 52 36 149 102 54 −259 −74 0 −16
Diluted EPS −$51.75 $4.09 −$54.89 −$21.43 $0.88 $0.82 $4.42 $2.78 $1.49 −$7.47 −$2.00 $0.01 −$0.36
Growth (year on year)
Revenue — −13.7% +13.0% +25.7% −1.7% −20.3% −21.9% +0.4% +8.0% −23.7% −10.1% −4.7% −6.2%
EBITDA — — −116.3% — −32.8% −4.0% −27.6% −1.0% −36.5% −172.9% — +393.4% —
Operating income — — −925.2% — — +26.9% −26.2% +25.0% −47.7% −301.4% — — —
Net income — — <−999% — — −32.1% +320.3% −31.9% −46.5% −577.1% — — —
Diluted EPS — — <−999% — — −6.8% +439.0% −37.1% −46.4% −601.3% — — —
Margins
Gross margin 75.5% 72.0% 66.8% 68.3% — 59.1% 60.4% 63.4% 64.9% 63.1% 65.2% 67.9% 66.1%
EBITDA margin −12.0% 40.8% −5.9% 35.2% 24.1% 29.0% 26.9% 26.5% 15.6% −14.9% 2.4% 12.3% 10.0%
Operating margin −29.0% 8.1% −58.9% −0.2% 9.1% 14.5% 13.7% 17.1% 8.3% −21.8% −4.0% 7.2% 4.7%
Net margin −35.0% 3.2% −56.7% −20.4% 2.9% 2.5% 13.5% 9.1% 4.5% −28.3% −9.0% 0.0% −2.3%
Free-cash-flow margin 26.0% 25.5% 23.3% 20.4% 17.9% 17.2% 18.5% 12.9% 9.9% 12.5% 6.8% 4.0% 5.4%
Cash flow
Cash from operations 413 349 360 388 347 271 233 171 149 148 90 64 72
Capital spending 28 23 24 18 27 26 28 27 29 33 34 32 34
Free cash flow 385 326 336 370 320 245 205 144 119 115 56 31 38
Stock-based pay 5 5 4 4 40 14 −3 8 15 22 24 25 19
Free cash flow after stock pay 380 321 332 366 280 230 208 136 105 93 32 6 19
Balance sheet
Cash 258 172 156 171 34 2 2 11 16 18 16 11 9
Total debt 0 2,010 2,675 2,396 0 714 528 562 470 349 284 253 244
Net debt (negative = net cash) −258 1,838 2,519 2,225 −34 712 526 551 454 331 268 243 235
Diluted shares 10m 10m 15m 17m 60m 43m 34m 36m 37m 35m 37m 44m 45m
Returned to shareholders
Buybacks — — — — 0 438 31 0 0 0 0 5 —
Total returned — — — — 0 438 31 0 0 0 0 5 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $654m
Short-term assets $158mLonger-term assets $496m
What it owes, and who funded it · $370m
Short-term liabilities $158mShareholders' equity $212m
  • Short-term assets cover short-term liabilities $158m of assets due within a year against $158m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $9m of cash against $244m of debt.
  • Debt below 40% of shareholders' equity Debt is 115% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 156% to 115% over five years.
  • A year's operating cash flow covers at least 20% of debt $72m of operating cash flow against $244m of debt.
  • Operating profit covers interest at least five times over Operating income of $33m against $31m of interest.

From Thryv Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$5.5M
Diluted share count
+11.9%
year over year
Days sales outstanding
66 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in advertising
Last 12 months unless stated THRY MGNI DV PERI TEAD DSP Median
Revenue, last 12 months $712m $742m $786m $440m $1.2bn $388m $202m
Revenue growth, last 12 months −6.2% 8.3% 7.2% −11.7% 12.3% 22.0% −1.2%
Revenue growth, 3-year average −12.4% 7.1% 13.7% 10.6% 9.0% 24.3% 7.7%
Revenue growth, latest quarter −28.4% 11.2% 9.0% — −17.1% 33.9% 2.4%
Gross margin 66.1% 64.8% 82.2% 90.2% 33.2% 44.5% 40.3%
Operating margin 4.7% 15.6% 13.3% −3.4% −31.9% 2.3% −3.3%
Operating margin, 3-year average −9.1% 9.6% 12.3% −7.1% −12.2% 0.2% −2.8%
Net margin −2.3% 22.5% 8.2% −1.8% −43.3% 2.2% −2.3%
Cash from operations / revenue 10.1% 37.9% 26.6% 9.5% −3.5% 17.3% 3.5%
Free-cash-flow margin 5.4% 27.0% 21.3% 8.7% −3.7% 17.0% 3.9%
Free-cash-flow margin, 3-year average 7.1% 25.4% 21.3% 12.0% 2.3% 16.6% 8.1%
Stock pay / revenue 2.7% 10.1% 12.8% 7.1% 0.9% 7.6% 2.7%
Change in share count 11.9% 3.8% −4.4% −15.0% 34.9% 16.1% 4.2%

Median of all 27 companies we cover in advertising. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

27 advertising companies
Measure Company Peer median Rank
Revenue growth Growth -6.2% -1.2% 17 of 27
Change in growth rate Growth -6.1pp -0.5pp 16 of 27
Gross margin Profitability 66.1% 44.5% 4 of 22
Operating margin Profitability 4.7% -3.2% 6 of 26
Net margin Profitability -2.3% -2.3% 14 of 27
Free-cash-flow margin Cash generation 5.4% 4.7% 12 of 26
Stock pay as % of revenue Cash generation 2.7% 2.7% 12 of 23
Long-term debt as % of assets Balance sheet 31.9% 18.9% 11 of 15
Change in share count Balance sheet 11.9% 4.2% 15 of 24
Days sales outstanding Balance sheet 66 days 91 days 10 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Software As A Service $461M 58.7% ▲ 34.2%
Marketing Services $324M 41.3% ▼ 32.6%
Geography
Region Revenue Share YoY
United States $659M 84.0% ▼ 3.9%
Outside the US $126M 16.0% ▼ 8.8%

From Thryv Holdings, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$154M
Institutions reporting
127
Shares held vs prior quarter
0.0%
Positions opened / closed
24 / 24

Top buyers and sellers, Q2 2026: 76 institutions bought and 56 sold ; the biggest buyer was Blackrock, Inc (+2.0M shares) and the biggest seller FMR LLC (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Paulson & Co. Inc. $33.3M 8.4M 21.6% 0.0%
Blackrock, Inc. $22.8M 5.8M 14.8% ▲ 52.0%
AQR Capital Management LLC $8.5M 2.2M 5.5% ▲ 76.5%
Vanguard Capital Management LLC $7.1M 1.8M 4.6% ▲ 1.5%
Acadian Asset Management LLC $6.9M 1.7M 4.5% ▲ 1.0%
Wittenberg Investment Management, Inc. $4.4M 1.1M 2.8% ▲ 0.8%
Goldman Sachs Group Inc $4.4M 1.1M 2.8% ▲ 136.0%
Charles Schwab Investment Management Inc $3.9M 986K 2.5% ▼ 19.2%
Geode Capital Management, LLC $3.8M 963K 2.5% ▲ 3.1%
Brooktree Capital Management $3.8M 953K 2.4% ▲ 3.2%
Luxor Capital Group, LP $3.6M 904K 2.3% ▼ 20.1%
D. E. Shaw & Co., Inc. $3.4M 854K 2.2% ▲ 11.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Thryv Holdings, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $7.6M 15 trades by 5 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $7.6M net buying
Insider Date Trade Shares Price Value
Walsh Joe Chairman and CEO September 18, 2026 Buy 25,000 $1.80 $45,000
Paulson & Co. Inc. 10% owner August 5, 2026 Buy 144,975 $2.79 $404,480
Paulson & Co. Inc. 10% owner August 4, 2026 Buy 254,573 $2.82 $717,896
Orfanos Lou Director March 18, 2026 Buy 5,000 $2.60 $13,000
Slater John Director March 17, 2026 Buy 2,000 $2.66 $5,320
Walsh Joe Chairman and CEO March 13, 2026 Buy 15,000 $2.91 $43,650
Slater John Director March 4, 2026 Buy 3,000 $3.24 $9,720
Paulson & Co. Inc. 10% owner March 3, 2026 Buy 593,621 $2.83 $1.7M
Rouse Paul D CFO, Executive VP & Treasurer March 3, 2026 Buy 6,000 $2.61 $15,660
Paulson & Co. Inc. 10% owner March 2, 2026 Buy 987,078 $2.49 $2.5M
Rouse Paul D CFO, Executive VP & Treasurer March 2, 2026 Buy 14,000 $2.35 $32,900
Paulson & Co. Inc. 10% owner February 27, 2026 Buy 857,066 $2.29 $2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 29, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • April 30, 2026
  • February 26, 2026
  • October 30, 2025
  • July 30, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Thryv Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Thryv Holdings, Inc. in brief

What does Thryv Holdings, Inc. do?
Thryv Holdings, Inc. is a US-listed company in the advertising industry. Its financial year ends in December.
What is Thryv Holdings, Inc.'s stock ticker?
Thryv Holdings, Inc. trades under the ticker THRY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Thryv Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Thryv Holdings, Inc. reported revenue of $712M, 6.2% lower than a year earlier, according to its SEC filings.
What is Thryv Holdings, Inc.'s free cash flow?
Thryv Holdings, Inc.'s free-cash-flow margin is 5.4% of revenue over the trailing twelve months, ranking 12 of the 26 advertising companies we cover.
Who are Thryv Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Paulson & Co. Inc., Blackrock, Inc. and AQR Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Thryv Holdings, Inc.'s market cap?
On November 2, 2026, Thryv Holdings, Inc.'s market capitalisation was about $55.7M and net debt of $235M. Market figures come from third-party market data and may be delayed.
How much debt does Thryv Holdings, Inc. have?
Thryv Holdings, Inc.'s debt-to-equity ratio is 115.2%, from its latest balance sheet (156.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Thryv Holdings, Inc.'s competitors?
In our Advertising peer group, the companies closest to Thryv Holdings, Inc. are Magnite, Inc., Doubleverify Holdings, Inc., Perion Network Ltd., Teads Holding Co. and Viant Technology Inc. The side-by-side comparison below sets their revenue, margins and growth against Thryv Holdings, Inc.'s.
Are insiders buying or selling Thryv Holdings, Inc. stock?
Over the last 12 months, Thryv Holdings, Inc.'s directors and officers reported 15 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Thryv Holdings, Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Thryv Holdings, Inc. announces its own schedule.