Thryv Shifts Focus to AI as SaaS Revenue Jumps 34% in 2025

Event summary

Thryv reported a 14.1% year-over-year increase in SaaS revenue to $119.0 million in Q4 2025, with full-year growth of 34%.
Marketing Services revenue declined by 11.7% year-over-year in Q4 2025 and 32.6% for the full year.
The company shifted focus to an AI-enabled 'Market, Sell, Grow' platform aimed at empowering SMBs.
Consolidated total revenue increased by 2.7% year-over-year in Q4 2025 but decreased by 4.7% for the full year.

The big picture

Thryv's strategic pivot to AI reflects the broader industry trend of leveraging artificial intelligence to enhance small business marketing and sales capabilities. The company's focus on SaaS revenue growth, despite a decline in traditional Marketing Services, highlights its transition from legacy print services to a leading SMB software provider.

What we're watching

AI Integration: How Thryv's shift to an AI-enabled platform will impact its ability to attract and retain SMB customers.
Revenue Diversification: Whether the company can sustain SaaS revenue growth while managing the decline in Marketing Services revenue.
Operational Efficiency: The pace at which Thryv can improve its Adjusted EBITDA margin amid increasing operational costs.