Thryv (THRY) The Citizens JMP Technology Conference 2025 summary

Company evolution and strategy

• Originated as a Yellow Pages business, transitioned to software by leveraging a loyal SMB client base and cutting costs.

• Shifted focus to leveling the technology playing field for small businesses, now generating close to $400 million in high-margin software revenue.

• Acquired Keep to expand into new verticals and upmarket segments, targeting businesses with around 10 employees and $1M+ revenue.

• Moving from a horizontal to a more verticalized approach, with plans to further penetrate professional and service-based industries.

Product suite and innovation

• Offers Command Center (freemium communications hub), Business Center (CRM, scheduling, invoicing), Marketing Center (growth-focused, AI-driven marketing), Reporting Center, and Keep automation.

• Marketing Center, launched in August 2023, has driven significant growth by focusing on lead generation and attribution.

• Reporting Center and Keep automation enhance analytics and lead conversion, while Workforce Center (payroll) is set to launch soon.

• Emphasizes platform unification for seamless cross-sell and upsell, with a focus on automating and simplifying SMB operations.

Customer base and go-to-market

• Core customers are small service-based businesses (3–10 employees), with a growing focus on slightly larger SMBs.

• Direct sales force of 700+ in multiple countries, complemented by an 800-partner network from the Keep acquisition.

• Three-pronged growth strategy: direct sales, partner network, and product-led growth (PLG) via free trials, aiming for significant expansion by 2026.

• Low current cross-platform adoption (12.9%), but rapid growth expected as more products are introduced and partner network expands.