Thryv Holdings, Inc. - THRY STOCK NEWS

Thryv Holdings (NASDAQ:THRY), a leading small business software platform provider, has announced its management team's participation in three upcoming investor conferences. The team will host one-on-one meetings at the RBC Global Technology, Internet, Media, and Telecom Conference on November 19th, 2024, in New York, the Needham SaaS 1X1 Virtual Conference on November 21st, 2024, and the Wolfe Research Small and Mid-Cap Conference on December 5th, 2024, which will be held virtually.

Thryv (NASDAQ: THRY) has launched AI Review Response, a new tool enabling small businesses to efficiently respond to online reviews across 24 platforms including Google Business Profile, YP.com, and Trustpilot. The tool aggregates reviews in one view and generates three AI-powered response options that businesses can customize. This development addresses a critical need, as research shows 69% of customers expect responses within a week, and 95% read online reviews before shopping. The tool is part of Thryv's expanding AI-powered offerings, which include Social Media Management Tool and Pro Campaign Editor.

Thryv Holdings (NASDAQ:THRY) reported strong Q3 2024 results with SaaS revenue growing 29% year-over-year to $87.1 million. The company achieved the 'Rule of 40' milestone and raised its full-year 2024 SaaS guidance. Total SaaS clients increased 45% to 96,000, while Seasoned Net Dollar Retention improved to 101%. However, Marketing Services revenue decreased 20% to $92.8 million. The company reported a consolidated net loss of $96.1 million, including an $83.1 million non-cash goodwill impairment charge. Thryv also completed the acquisition of Keap, expanding its integrated marketing and sales solutions.

Thryv Holdings (NASDAQ:THRY) reported strong Q3 2024 performance with 29% year-over-year SaaS revenue growth to $87.1 million. The company achieved the 'Rule of 40' milestone and saw total SaaS clients increase by 45% to 96,000. Key highlights include improved Seasoned Net Dollar Retention of 101%, up 900 basis points year-over-year, and ThryvPay payment volume growth of 30%. The company completed the acquisition of Keap and raised its full-year 2024 SaaS guidance. However, Marketing Services revenue decreased 20% to $92.8 million, and the company reported a consolidated net loss of $96.1 million, including an $83.1 million non-cash goodwill impairment charge.

Thryv Holdings (NASDAQ: THRY) has completed its acquisition of Keap for $80 million in cash. The strategic merger combines two leading SaaS providers for small and medium-sized businesses (SMBs), resulting in a combined base of over 100,000 SaaS subscribers. The acquisition integrates Keap's marketing automation capabilities with Thryv's business management solutions, creating a comprehensive platform for SMBs. The merger expands Thryv's geographic presence in North America and international markets including Europe and Australia, while enhancing its software portfolio with AI-powered marketing tools and automation features.

Thryv Holdings (NASDAQ: THRY) has priced an upsized public offering of 5,715,000 shares of common stock at $14.00 per share, expecting to raise approximately $80.0 million in gross proceeds. The company granted underwriter RBC Capital Markets a 30-day option to purchase up to 857,250 additional shares. The proceeds will partially fund Thryv's previously announced acquisition of Infusion Software (Keap). The offering is expected to close around October 31, 2024, subject to customary conditions.

Thryv Holdings (NASDAQ:THRY) released preliminary Q3 2024 results, reporting SaaS revenue between $86-88 million, up from $67 million year-over-year. SaaS Gross Margin improved to 69-70% from 64%. However, the company expects a net loss of $95-97 million, including an $83 million non-cash goodwill impairment charge in the Marketing Services segment. SaaS Adjusted EBITDA is projected at $10-11 million, compared to -$1 million in Q3 2023. The company's client base grew to 96,000-97,000, up from 66,000, with improved client retention at approximately 100%.

Thryv Holdings (NASDAQ: THRY) announced a $75.0 million public offering of common stock, with an additional 15% option granted to underwriters for a 30-day period. The company plans to use the proceeds to partially fund its previously announced acquisition of Infusion Software (Keap). RBC Capital Markets is serving as the sole book-running manager, offering shares through various channels including Nasdaq and over-the-counter markets. The offering will be conducted under Thryv's effective shelf registration statement on Form S-3ASR.

Thryv Holdings (NASDAQ: THRY) has signed a definitive agreement to acquire Keap for $80 million in cash. Keap, a provider of CRM and marketing automation solutions for SMBs, generated approximately $85 million in revenue during the trailing twelve months through June 2024. The acquisition will establish Thryv as a market leader with total SaaS revenue exceeding $400 million in recurring revenue. The combined entity will have over 100k SaaS subscriptions, expanding Thryv's presence in North America, Europe, and Australia. The transaction is expected to close in Q4 2024, funded through equity financing and existing credit facility.