Thryv Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Thryv Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2013	FY2014	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,444	1,815	1,784	1,421	1,109	1,113	1,202	917	824	785
Cost of revenue	479	576	647	581	440	408	422	339	287	252
Gross profit	965	1,239	1,137	840	670	705	780	578	537	533
Research and development								12.7	15.7	39.1
Selling and marketing	383	436	469	432	315	358	362	288	254	226
General and administrative	209	164	239	197	178	154	216	209	217	211
Operating income	-850	-4	162	206	152	190	99.3	-200	-33.3	56.7
Interest expense			82.7	93	68.5	66.4	60.4	61.7	46.8	34.8
Other non-operating income			-11	-5.43	0	-4.15	15.4	-1.52	-10.7	3.91
Pre-tax income	-1,195	-358	60.8	53.6	41.2	134	99	-261	-66	17
Income tax	-376	13	8.49	18.1	-108	32.7	44.6	-1.25	8.22	16.7
Net income	-819	-371	52.3	35.5	149	102	54.3	-259	-74.2	0.31
EBITDA	-85	639	429	412	299	295	188	-137	19.5	96.2
EPS, basic	-54.89	-21.43	0.91	0.87	4.73	3.02	1.58	-7.47	-2.00	0.01
EPS, diluted	-54.89	-21.43	0.88	0.82	4.42	2.78	1.49	-7.47	-2.00	0.01
Shares, basic (weighted)	14.9	17.3	57.3	40.8	31.5	33.6	34.3	34.7	37.1	43.6
Shares, diluted (weighted)	14.9	17.3	59.6	43.5	33.8	36.5	36.5	34.7	37.1	44.5

Balance sheet

	FY2013	FY2014	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	156	171	34.2	1.91	2.41	11.3	16	18.2	16.3	10.8
Receivables	218	151		370	297	279	285	206	162	136
Other current assets	27	14		28	12.8	13.6	2.32	2.66	2.12	0.68
Total current assets	609	497		479	370	371	378	267	211	179
Property, plant and equipment	106	64		102	89	50.9	42.3	38.6	44.5	50.9
Lease right-of-use assets				39	9.2	9.52	4.84	2.72	2.42	0.71
Goodwill	315	315	609	609	609	672	566	302	253	254
Intangible assets	1,381	794	312	147	31.8	82.6	34.7	18.8	34.3	25.9
Other non-current assets	12	7		51.3	21.9	33.9	42.6	28.5	25.9	45.9
Total assets	2,464	1,722		1,388	1,215	1,301	1,178	783	712	689
Accounts payable	20	14		16.1	8.93	8.61	19	10.3	13	9.76
Accrued liabilities	56	31		140	140	132	127	106	95.5	91.2
Deferred revenue	126	93		24.7	18.9	51.7	41.9	44.6	40.3	28.9
Short-term debt	154	124			0	70	70	70	13.1	17.5
Total current liabilities	466	404		257	207	307	300	263	196	180
Long-term debt	2,521	2,272		420	528	492	400	279	271	236
Lease liabilities				28.8	24.6	24.3	13.6	5.83	2.81	0.22
Other non-current liabilities	1	0		85.4	36.3	35.2	22.7	19	9.76	10.7
Total liabilities	3,167	2,844		1,361	1,018	986	796	630	515	470
Total debt	2,675	2,396		714	528	562	470	349	284	253
Paid-in capital	1,551	1,554		1,009	1,060	1,084	1,106	1,151	1,272	1,303
Retained earnings	-2,220	-2,591		-544	-395	-293	-239	-498	-572	-572
Treasury stock				-438	-469	-469	-469	-486	-489	-498
Other comprehensive income	-34	-85			0	-8.05	-16.3	-15.2	-14.9	-15.5
Shareholders' equity	-703	-1,122	428	27.3	197	315	382	153	197	218
Total equity	-703	-1,122	428	27.3	197	315	382	153	197	218
Total liabilities and equity	2,464	1,722		1,388	1,215	1,301	1,178	783	712	689
Shares outstanding	17.6	17.6		33.5	32.9	34.1	34.6	35.3	43	43.8

Cash flow statement

	FY2013	FY2014	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-819	-371	52.3	35.5	149	102	54.3	-259	-74.2	0.31
Depreciation and amortization	765	643	267	206	147	105	88.4	63.3	52.8	39.5
Stock-based compensation	4	4	39.6	14.1	-2.9	8.09	14.6	22.2	24.1	25.3
Deferred income tax	-351	11	-22.7	-25.1	-145	-19.3	-15.1	-12.9	-5.4	10.6
Change in receivables	291	41	14.5	16.5	41.4	74.4	-5.24	54.3	23.2	-9.85
Change in payables	-32	-27	-72.1	-64.9	-86.2	-126	-41.1	-37.7	-26.5	-12.7
Cash from operations	360	388	347	271	233	171	149	148	89.8	63.5
Capital expenditures	-24	-18	-27.4	-26.1	-27.8	-26.8	-29.2	-33.4	-33.5	-32.4
Acquisitions			-1.25	-0.15	0	-175	-22.8	-8.9	-76.9	-0.14
Cash from investing	130	-5	-28.7	-25.4	-26.2	-197	-52	-42.5	-110	-32.5
Debt issued			382	194	0
Debt repaid	-505	-367		-148	-114
Stock issued			0	0.44	11.2	7	0	0	87.4	0
Share buybacks			0	-438	-30.6	0	0	0	-0.5	-5
Cash from financing	-506	-368	-286	-277	-206	39.1	-91.1	-103	19.2	-38.5
Exchange rate effect				0	0	-1.93	-0.83	0.13	-1.34	0.59
Net change in cash	-16	15	32.1	-32.3	0.49	11.2	4.62	2.35	-2.77	-6.89
Free cash flow	336	370	320	245	205	144	119	115	56.2	31.1
Interest paid	254	269	81	81.5	72.9	66.7	57.1	57	44	31.6
Income taxes paid	14	4	44	38.1	24.8	63.9	58.3	9.31	15.4	5.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.79 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	66.1%	Gross profit / revenue.
Operating margin	4.7%	Operating income / revenue.
EBITDA margin	10.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.5%	Pre-tax income / revenue.
Net margin	-2.3%	Net income / revenue.
FCF margin	5.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.1%	Cash from operations / revenue.
Return on equity (ROE)	-7.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.5%	Net income / average total assets.
Return on invested capital (ROIC)	5.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.7%	Capital expenditures / revenue.
D&A / revenue	5.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-4.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-13.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-6.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-0.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-12.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-4.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	-17.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-17.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	393.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-20.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-20.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-82.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-71.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 3y	-81.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-70.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-29.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-24.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-22.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-44.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-36.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-31.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	10.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-17.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-3.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-16.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-10.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	19.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	6.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.00x	Current assets / current liabilities.
Quick ratio	0.86x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.06x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.15x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.3%	Total debt / total assets.
Liabilities / assets	67.7%	Total liabilities / total assets.
Net debt	$234.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.31x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.07x	Operating income / interest expense.
Working capital	-$477.0K	Current assets - current liabilities.
Goodwill and intangibles / assets	42.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$65.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.09x	Revenue / average total assets.
Fixed asset turnover	14.5x	Revenue / average property, plant and equipment.
Receivables turnover	5.57x	Revenue / average receivables.
Days sales outstanding	66 days	365 x average receivables / revenue.
Days payables	8 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	46.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.36	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$16.04	Revenue / diluted weighted shares.
FCF per share	$0.86	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.62	Cash from operations / diluted weighted shares.
Book value per share	$4.76	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$1.47	Tangible book value / shares outstanding.
Cash per share	$0.21	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$79.5M	Share price x shares outstanding.
Enterprise value	$314.1M	Market cap + total debt - cash - short-term investments.
P/S	0.11x	Market cap / revenue.
P/B	0.38x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	2.09x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	1.11x	Market cap / cash from operations, when positive.
EV/Sales	0.44x	Enterprise value / revenue.
EV/EBIT	9.49x	Enterprise value / operating income, when both are positive.
EV/EBITDA	4.43x	Enterprise value / EBITDA, when both are positive.
EV/FCF	8.23x	Enterprise value / free cash flow, when both are positive.
FCF yield	48.0%	Free cash flow / market cap.
Earnings yield	-20.3%	Net income / market cap (the inverse of P/E).

What was Thryv Holdings, Inc.'s revenue in fiscal 2025?

Thryv Holdings, Inc. reported revenue of $785.0M for fiscal 2025, 4.7% lower than the year before.

Was Thryv Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $307.0K, a net margin of 0%.

How much free cash flow did Thryv Holdings, Inc. generate in fiscal 2025?

Cash from operations of $63.5M minus capital expenditures of $32.4M left free cash flow of $31.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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