Filing Flows › Thryv Holdings (THRY) › Q1 2026 › vs Q4 2025
Thryv Holdings (THRY) Q1 2026 vs Q4 2025 (quarter over quarter)
Thryv Holdings's revenue fell $23.9M (-12%) from $192M in Q4 2025 to $168M in Q1 2026. The biggest changes: Marketing Services −$21.7M (-30%); SaaS −$2.3M (-2%).
Thryv Holdings, Q1 2026: revenue $168M (-8% year over year), operating margin 2.4%, net earnings $4.5M, operating cash flow $1.5M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| SaaS | $117M | $119M | −$2.3M | -2% |
| Marketing Services | $50.9M | $72.6M | −$21.7M | -30% |
| Revenue | $168M | $192M | −$23.9M | -12% |
| Income tax benefit | $6.0M | −$5.3M | $11.4M | — |
| Costs & expenses | $174M | $201M | −$27.6M | -14% |
| Operating costs | $164M | $181M | −$17.8M | -10% |
| Interest & other, net | $5.5M | $14.5M | −$9.0M | -62% |
| Net earnings | $4.5M | −$9.7M | $14.2M | — |
| Cost of revenue | $58.4M | $61.3M | −$2.9M | -5% |
| Sales & marketing | $47.9M | $22.5M | $25.4M | +113% |
| General & admin | $45.8M | $58.6M | −$12.7M | -22% |
| Operating cash sources | $18.5M | $4.2M | $14.3M | +342% |
| Depreciation & amortization | $9.2M | $8.1M | $1.0M | +13% |
| Share-based compensation | $4.8M | $5.7M | −$948K | -17% |
| Working capital & other | $17.0M | −$18.0M | $35.0M | — |
| Operating cash flow | $1.5M | $22.2M | −$20.7M | -93% |
| Capital expenditures | $6.9M | $9.9M | −$3.0M | -30% |
| Negative free cash flow (OCF − capex) | $5.5M | −$12.3M | $17.8M | — |
Questions
How much did Thryv Holdings's revenue grow quarter over quarter in Q1 2026?
Thryv Holdings's revenue fell $23.9M (-12%) from $192M in Q4 2025 to $168M in Q1 2026.
What drove Thryv Holdings's revenue change in Q1 2026?
Marketing Services −$21.7M (-30%); SaaS −$2.3M (-2%).