Thryv Holdings pushes for majority SaaS revenue by 2025

On December 3, 2024, Thryv Holdings hosted its Analyst Day at the NASDAQ Marketsite in New York City, where Chairman and CEO Joe Walsh presented an overview of the company's growth strategy, particularly focusing on its SaaS offerings. The event featured an emphasis on recent transformations that have improved key operational metrics, serving over 100,000 small business clients. Walsh highlighted an ambitious goal for 2025, aiming for the company to generate the majority of its revenue from its SaaS platforms. The discussion included significant updates on Thryv's recent acquisition of Keap, a move that is expected to strengthen the firm's market position by providing increased automation and enhancing their suite of marketing resources. The integration is anticipated to yield significant cost savings and drive innovation through an expanded product development team. The changes are reflective of a strategic pivot towards a more robust SaaS model that aligns with contemporary market demands. Additionally, Thryv announced the launch of two new service centers: the Thryv Reporting Center which will offer essential performance metrics to small business owners for better decision-making, and the future Thryv Workforce Center aimed to improve employee management and payroll processes in 2025. The company is also seeking to rationalize costs and is preparing to exit its marketing services line by 2028, signaling a trend towards digital solutions that resonate more with current customer needs. With a projected 18%-20% growth in organic SaaS revenue and an outlook for Keap's contribution to reach between $75 million and $78 million, Thryv's financial perspectives indicate a commitment to a long-term SaaS revenue strategy. By extending their print directory cycle and migrating digital clients to SaaS models, Thryv plans to enhance its cash flow while reducing expenditures. Overall, the Analyst Day underscored Thryv Holdings' potential growth trajectory and reaffirmed the leadership's commitment to evolving in a shifting marketplace.