Thryv (THRY) Q2 2026 earnings summary

Executive summary

• SaaS revenue accounted for 76% of total revenue in Q2 2026, reflecting a strategic shift and the launch of the Thryv Growth Platform.

• SaaS ARPU increased 12% year-over-year to $394, with 72% of SaaS revenue from quality customers and 95,000 SaaS clients at quarter-end.

• Strategic partnerships with Wix and Ooma, and integrations with Breesy and Jobber, were launched to expand reach and enhance platform capabilities.

• A restructuring program was initiated to focus on core growth areas, streamline operations, and realize $55–$60 million in annualized cost savings.

• The company is leveraging AI-native tools to drive client growth, retention, and operational efficiency.

Financial highlights

• Q2 2026 consolidated revenue was $150.7 million, with SaaS revenue at $114.5 million (down 0.5% YoY) and Marketing Services revenue at $36.2 million (down 62% YoY).

• Net loss for Q2 2026 was $16.7 million, compared to net income of $13.9 million in Q2 2025.

• Adjusted EBITDA was $20.8 million (13.8% margin), down from $51.2 million (24.3% margin) in Q2 2025.

• Free cash flow for Q2 2026 was $16.7 million.

• Gross profit for Q2 2026 was $94.6 million (62.7% margin), down from $146.6 million (69.7% margin) in Q2 2025.

Outlook and guidance

• Full-year 2026 SaaS revenue expected at $453–$457 million; SaaS Adjusted EBITDA at $42–$44 million.

• Marketing Services revenue for full-year 2026 expected at $161–$163 million; Adjusted EBITDA at $31–$33 million.

• Q3 2026 SaaS revenue guidance: $111–$112 million; SaaS Adjusted EBITDA: $8.5–$9.5 million.

• Additional restructuring costs of $17–$25 million are expected through 2027 as part of ongoing efficiency initiatives.

• Investment focus shifted to product development in H1, with increased sales and marketing investment planned for H2 2026 and into 2027.