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Thryv is a software-led platform company focused on enabling small and medium-sized businesses ( SMBs ) to run and grow their businesses more efficiently with artificial intelligence ( AI ) tools and automations. Our strategy is centered on delivering a unified, extensible SaaS platform that supports customer acquisition, engagement, operations, and retention across the SMB lifecycle.
Margins and capital returns are both well above average: 39.36% operating margin, ROIC at 60.18%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue declined 4.7% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 45% versus the prior year, cash generation momentum has weakened. Net debt of $251M represents 8.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$771M
▼ -4.7% YoY
Net Income (TTM)
$14M
▲ +100.4% YoY
Op. Margin
40.98%
▲ +43.4pp YoY
ROIC
62.11%
▲ +65.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$43M
▼ -44.6% YoY
Op. Cash Flow (TTM)
$75M
▼ -29.2% YoY
Net Debt
$251M
Cash & Equiv.
$8M
5Y CAGR: -6.7%
5Y CAGR: -31.4%
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