Thryv (THRY) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 13.5% YoY to $118.9M; Adjusted EBITDA improved to $4.2M from a $4.6M loss, while continuing-operations net loss was $116.0M including a $94.8M goodwill impairment.

• Q3 results exceeded guidance on a like-for-like basis; the AI-focused Growth Platform sold ~1,500 times since its August launch, ~190% of plan.

• Strategic focus is shifting toward growth products and local service businesses, with plans to exit print and narrow offerings from broader CRM and end-to-end services.

Financial highlights

• Continuing-operations revenue was $118.9M; gross profit was $73.7M, and diluted EPS was $(2.61), including the $94.8M non-cash impairment.

• Q3 free cash flow was $4.7M; 9M free cash flow was $16.0M, while continuing-operations operating cash flow used $37.9M.

• 9M revenue declined 10.7% to $376.3M; Adjusted EBITDA was $11.9M versus a $7.0M loss a year earlier.

Outlook and guidance

• Q4 continuing-operations guidance: SaaS revenue $110M-$111M and Adjusted EBITDA loss $4.5M-$5.5M; Marketing Services revenue $2M-$3M and Adjusted EBITDA loss $11M-$12M.

• FY26 continuing-operations guidance: SaaS revenue $453M-$454M and Adjusted EBITDA $16.5M-$17.5M; Marketing Services revenue $35M-$36M and Adjusted EBITDA loss $21M-$22M.

• Total guidance is Q4 revenue $112M-$114M and Adjusted EBITDA loss $15.5M-$17.5M; FY26 revenue $488M-$490M and Adjusted EBITDA loss $3.5M-$5.5M.

• Guidance reflects continuing operations and shared costs allocated after print was classified as discontinued; restructuring and R&D cost reclassification weigh on Q4.

• Marketing Services is expected to cease being a reporting segment in H2 2027; remaining clients are expected to migrate to SaaS or exit by mid-2027.