Thryv Q3 revenue falls as legacy CRM products weigh
THRY•Thryv’s Q3 revenue fell 13.5% to $118.94 million, missing the $145.67 million analyst estimate, while adjusted EBITDA of $4.20 million also missed expectations. The company forecast Q4 SaaS revenue of $110 million to $111 million and full-year 2026 SaaS revenue of $453 million to $454 million.
1. Quarterly results
Thryv reported Q3 revenue of $118.94 million, down 13.5% year over year and below the $145.67 million analyst estimate. Adjusted EBITDA was $4.20 million, compared with the $13.99 million estimate. The company posted a net loss of $103.07 million, driven by a $94.8 million non-cash goodwill impairment.
2. Outlook and drivers
Thryv expects Q4 SaaS revenue of $110 million to $111 million and SaaS adjusted EBITDA of negative $4.5 million to negative $5.5 million. For full-year 2026, it forecasts SaaS revenue of $453 million to $454 million and SaaS adjusted EBITDA of $16.5 million to $17.5 million. Growth product revenue rose 16% year over year, while declines in legacy CRM products weighed on SaaS revenue; the company cited adoption of its AI-powered Thryv Growth Platform and its transition to a pure-play SaaS model.
