Thryv Posts $2.61 Per-Share Loss as Goodwill Falls by $94.8 Million
Key Facts
Thryv Holdings reported third-quarter 2026 results on November 9, posting consolidated revenue of $118.9 million and a consolidated net loss of $116.0 million, or $2.61 per diluted share. The loss included a non-cash goodwill impairment of $94.8 million, placing a significant portion of the net loss in an accounting context separate from operating results. Net loss in the third quarter of 2025 was about $24.9 million, or $0.57 per diluted share. By contrast, Investing.com, citing Reuters, reported adjusted loss per share of $2.32, versus an expected profit of $0.02. The platform said revenue of $118.93 million fell short of the $150.53 million estimate, while the company's official statement put consolidated revenue at $118.9 million.
SaaS revenue was $112.0 million for the quarter, down 3.3% year over year. The company said revenue from growth products increased 16% annually, but that growth was offset by pressure from legacy customer relationship management products. The figures show a divergence within the software business: expansion in newer products alongside a contraction in the segment's overall revenue. Chief Executive Joe Walsh called the quarter a "strong performance," attributing it to strong momentum and customer uptake of the new AI-powered Thryv Growth Platform. The characterization puts management's focus on platform adoption against the decline in overall software services revenue.
The company ended the quarter with 98 thousand SaaS customers, while monthly average revenue per unit was $373, up 2.2% year over year. Marketing services revenue was $6.9 million. On an adjusted profitability basis, Thryv recorded consolidated EBITDA of $4.2 million, with a 3.5% margin. That compared with a loss of $4.6 million and a negative 3.3% margin in the third quarter of 2025. The comparison presents a different operating picture from the net loss, which included the non-cash goodwill impairment, as the adjusted earnings measure improved from the year-earlier period.
The results come as Thryv reshapes its business portfolio. In August, the company announced a restructuring plan with expected total costs of between $20 million and $25 million and expected gross annual savings of between $55 million and $60 million once complete. It also agreed to sell assets from its print directories business, including Yellow Pages, White Pages and some digital editions, for $142.0 million in cash, subject to customary purchase-price adjustments. The company presented results from its print operations as discontinued operations. The deal puts the business's shift toward software at the center of attention on its results, alongside continued declines in overall SaaS revenue and pressure from legacy customer relationship management products.
Thryv expects SaaS revenue of between $110.0 million and $111.0 million in the fourth quarter of 2026, and between $453.0 million and $454.0 million for fiscal 2026. In its fourth-quarter outlook, it put the SaaS segment's adjusted EBITDA loss at between $4.5 million and $5.5 million, and the marketing services loss at between $11 million and $12 million. The company had scheduled a call to discuss the results for November 9, 2026, at 4:30 p.m. Eastern time. In regular trading on November 9, the stock rose 8.94% to close at $1.28, before falling 30.46% after hours to $0.89, according to Investing.com, citing Reuters. The stock had closed at $1.18 on November 6, according to EL7 data.