Thryv pivots to AI SaaS, cuts costs, sells print unit
AI platform launch targets growth Thryv launched an AI-native growth platform for small businesses, with early data showing 40% more revenue per client and 1.5x lead conversion. This could attract new customers and lift future revenue, supporting the stock.
New product launch is a key growth driver for Thryv's SaaS pivot.
Wix partnership expands reach Thryv and Wix plan a strategic partnership to offer integrated tools to small businesses, combining Thryv's marketing with Wix's websites. This expands Thryv's market and could boost customer demand.
Partnership is a new distribution channel that can drive subscriber growth.
Cost cuts and revised guidance Thryv announced $60M in run-rate savings and set 2026 SaaS EBITDA at $42-44M, but Q2 results showed a 36% drop in marketing billings. Cost cuts help profit, but weak billings and a securities investigation weigh on the stock.
Restructuring and guidance revision are central to the period's news and investor concern.
Print directories sale to cut debt Thryv agreed to sell its print directories business for $142M cash and will use proceeds to repay debt. This strengthens the balance sheet and sharpens focus on SaaS, pushing shares up 4.5% premarket.
Divestiture is a major strategic move that improves financial health.