Thryv Holdings Management
Management criteria checks 3/4
Thryv Holdings' CEO is Joe Walsh, appointed in Oct 2014, has a tenure of 11.67 years. total yearly compensation is $5.26M, comprised of 20.2% salary and 79.8% bonuses, including company stock and options. directly owns 4.94% of the company’s shares, worth $9.06M. The average tenure of the management team and the board of directors is 4.9 years and 5.8 years respectively.
Key information
Joe Walsh
Chief executive officer
US$5.3m
Total compensation
| CEO salary percentage | 20.17% |
| CEO tenure | 11.7yrs |
| CEO ownership | 4.9% |
| Management average tenure | 4.9yrs |
| Board average tenure | 5.8yrs |
Recent management updates
Recent updates
Narrative Update • May 25
THRY: AI SaaS Pivot And Churn Reset Will Shape 2026 Cash Outlook
Analysts have reduced their price target on Thryv Holdings to $5 from $15, pointing to softer medium term expectations as the company shifts its SaaS offering toward an AI native unified platform and anticipates higher churn from smaller customers before potential benefits from larger clients. Analyst Commentary Bearish analysts have reacted to Thryv Holdings' latest update by sharply reducing expectations, with one price target moving to US$5 from US$15 after the Q4 print and FY26 outlook.Narrative Update • Apr 28
THRY: AI SaaS Pivot Will Reshape 2026 Churn And Cash Outlook
Analysts have sharply cut Thryv Holdings' average price targets, with examples ranging from a move to $5 from $15 and to $7 from $13, as they factor in the planned shift toward an AI native unified SaaS platform, expected near term churn among smaller customers, and a focus on higher value clients over time. Analyst Commentary Recent price target cuts reflect a reset in expectations as bearish analysts react to Thryv's planned move toward an AI native unified SaaS platform and the related guidance for 2026.
Narrative Update • Apr 14
THRY: AI Native SaaS Pivot Will Ultimately Support Margin And Cash Flow Recovery
Analysts cut the fair value estimate for Thryv Holdings to $6.00 from $15.00, reflecting reduced price targets in the $5 to $7 range as they factor in softer revenue assumptions, higher required returns, lower future P/E expectations, and a focus on improved profit margins during the shift toward an AI native, unified SaaS platform. Analyst Commentary Recent research takes a more cautious stance on upside potential, but there are still clear pockets of optimism around Thryv Holdings as it leans into an AI native, unified SaaS model.Narrative Update • Mar 30
THRY: AI Native SaaS Pivot Will Reset 2026 Churn And Cash Profile
Narrative Update Analysts have cut Thryv Holdings' price targets sharply, with recent moves from $15 to $5 and from $13 to $7. These changes reflect concerns around the SaaS transition toward an AI native unified platform and near term churn risk, even as analysts note potential upside from higher value clients over time.Seeking Alpha • Mar 28
Thryv: Good Value, But SaaS Execution Is Shakier (Downgrade)
Summary Thryv has lost 60% YTD, pressured by SaaS sector turmoil and macro headwinds. At a 3.4x EV/FY26 adjusted EBITDA multiple, THRY appears deeply discounted, but execution risk remains high. FY26 guidance calls for $611–$631M revenue (-20% to -22%) and $100–$110M adjusted EBITDA (-31% midpoint). I downgrade THRY to neutral, citing weak growth outlook and customer churn risk despite low valuation. Read the full article on Seeking AlphaNarrative Update • Mar 16
THRY: AI Native SaaS Transition Will Reshape 2026 Outlook And Risk Profile
Narrative Update Analysts have cut the average price target for Thryv Holdings sharply, with recent moves from $15 to $5 and from $13 to $7. These changes are tied to concerns about the shift toward an AI native unified SaaS platform, expected churn among smaller customers, and uncertainty around the 2026 outlook for small business spending.
Narrative Update • Mar 02
THRY: AI Native SaaS Shift And Index Removals Will Set Up Rebound
Analysts have reduced their price targets on Thryv Holdings, with our fair value estimate moving from $13.00 to $4.75, as they factor in the shift toward an AI native unified SaaS platform, higher expected churn among smaller clients, updated discount rate assumptions, and a lower future P/E multiple despite slightly higher projected profit margins. Analyst Commentary Recent Street research has focused on how Thryv's shift toward an AI native unified SaaS platform and updated guidance are feeding into valuation, growth expectations, and execution risk.Narrative Update • Feb 16
THRY: Index Removals Will Set Stage For Future Upside Potential
Analysts now see Thryv Holdings as fairly valued at $13.00 per share, with the updated target based on slightly adjusted assumptions for the discount rate, revenue trajectory, profit margins and future P/E expectations. What's in the News Thryv Holdings, Inc.Narrative Update • Feb 02
THRY: Self Serve SaaS Transition Will Eventually Clarify And Support Recovery Potential
Analysts have maintained their fair value estimate for Thryv Holdings at US$15.00, incorporating slightly softer revenue growth assumptions and a modestly higher discount rate. This reflects concerns about challenging SaaS growth and limited near term visibility highlighted in recent research.Analysis Article • Jan 28
Thryv Holdings, Inc.'s (NASDAQ:THRY) 26% Dip In Price Shows Sentiment Is Matching Revenues
Unfortunately for some shareholders, the Thryv Holdings, Inc. ( NASDAQ:THRY ) share price has dived 26% in the last...Narrative Update • Jan 19
THRY: Self Serve SaaS Transition Will Eventually Support Medium Term Upside
Analysts have kept their fair value estimate for Thryv Holdings steady at $13.00. However, with a slightly higher discount rate and future P/E assumption, many are tempering expectations in light of recent downgrades that cite challenging growth dynamics and limited near term visibility in the SaaS transition.Narrative Update • Jan 05
THRY: Self Serve Transition Will Set Up SaaS Business For Recovery
Analysts have reduced their price target on Thryv Holdings from US$26 to US$15, citing recent downgrades and concerns about challenging growth in the software business, as well as limited near term visibility while the company works through a transition in its customer acquisition model. Analyst Commentary Recent commentary from Street research has shifted to a more cautious tone, with the stock moving to a Market Perform stance and no formal price target.Narrative Update • Dec 15
THRY: Self-Serve SaaS Pivot Will Drive Medium-Term Upside Despite Downgrade
Analysts have nudged their price target for Thryv Holdings slightly higher to $13.00 from $13.00, reflecting updated modeling assumptions that modestly tweak discount rates and long term profitability, while still highlighting near term growth visibility challenges in the SaaS transition. Analyst Commentary Recent research updates underscore a mixed backdrop for Thryv Holdings, with valuation adjustments reflecting both execution risk in the SaaS pivot and potential upside if the transition stabilizes.Narrative Update • Nov 30
THRY: Self-Serve Transition Will Drive Medium-Term Upside Amid Downgrade Concerns
Analysts have modestly lowered their fair value estimate for Thryv Holdings to $13.00 per share. This change reflects concerns about challenging growth and limited visibility in the company’s near-term outlook.Narrative Update • Nov 16
THRY: Future Revenue Stream Will Depend On Stabilizing Self-Serve Transition
Analysts have lowered their fair value price target for Thryv Holdings from $19.50 to $13.00. They cite increased uncertainty over the company’s growth prospects and profitability during a challenging transition period.Analysis Article • Nov 04
Why Investors Shouldn't Be Surprised By Thryv Holdings, Inc.'s (NASDAQ:THRY) 41% Share Price Plunge
The Thryv Holdings, Inc. ( NASDAQ:THRY ) share price has fared very poorly over the last month, falling by a...Narrative Update • Nov 01
THRY: Digital Transformation Will Support Future Margin Improvement And Value Creation
Analysts have lowered their price target for Thryv Holdings from $21.75 to $19.50, citing increased discount rates, reduced revenue growth expectations, and a lower profit margin outlook for the company. Valuation Changes Consensus Analyst Price Target has decreased from $21.75 to $19.50, reflecting a lower expected valuation for Thryv Holdings.Analysis Article • Aug 01
Is There An Opportunity With Thryv Holdings, Inc.'s (NASDAQ:THRY) 30% Undervaluation?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Thryv Holdings fair value estimate is US$18.73 Thryv Holdings...New Narrative • May 29
SaaS Shift Will Unlock Broader Digital Opportunities
Ongoing shift to SaaS and deeper client engagement drives improved margins, predictable earnings, and reduces churn for long-term growth stability.Analysis Article • May 06
Thryv Holdings, Inc.'s (NASDAQ:THRY) 26% Share Price Surge Not Quite Adding Up
Those holding Thryv Holdings, Inc. ( NASDAQ:THRY ) shares would be relieved that the share price has rebounded 26% in...Analysis Article • Mar 19
Thryv Holdings, Inc. (NASDAQ:THRY) Shares May Have Slumped 25% But Getting In Cheap Is Still Unlikely
Thryv Holdings, Inc. ( NASDAQ:THRY ) shares have retraced a considerable 25% in the last month, reversing a fair amount...Analysis Article • Feb 28
An Intrinsic Calculation For Thryv Holdings, Inc. (NASDAQ:THRY) Suggests It's 42% Undervalued
Key Insights The projected fair value for Thryv Holdings is US$30.04 based on 2 Stage Free Cash Flow to Equity Thryv...Analysis Article • Jan 17
What Thryv Holdings, Inc.'s (NASDAQ:THRY) P/S Is Not Telling You
It's not a stretch to say that Thryv Holdings, Inc.'s ( NASDAQ:THRY ) price-to-sales (or "P/S") ratio of 0.8x seems...Analysis Article • Sep 27
Revenues Not Telling The Story For Thryv Holdings, Inc. (NASDAQ:THRY)
It's not a stretch to say that Thryv Holdings, Inc.'s ( NASDAQ:THRY ) price-to-sales (or "P/S") ratio of 0.7x right now...Analysis Article • Aug 04
Thryv Holdings, Inc. Just Missed Earnings - But Analysts Have Updated Their Models
Shareholders might have noticed that Thryv Holdings, Inc. ( NASDAQ:THRY ) filed its second-quarter result this time...Analysis Article • Jul 17
Thryv Holdings' (NASDAQ:THRY) Returns On Capital Not Reflecting Well On The Business
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? Typically...Analysis Article • Jun 07
Shareholders May Be Wary Of Increasing Thryv Holdings, Inc.'s (NASDAQ:THRY) CEO Compensation Package
Key Insights Thryv Holdings will host its Annual General Meeting on 13th of June Total pay for CEO Joe Walsh includes...Analysis Article • May 23
Is There Now An Opportunity In Thryv Holdings, Inc. (NASDAQ:THRY)?
Thryv Holdings, Inc. ( NASDAQ:THRY ), is not the largest company out there, but it saw significant share price movement...Analysis Article • May 05
Thryv Holdings, Inc. Just Missed EPS By 46%: Here's What Analysts Think Will Happen Next
Shareholders might have noticed that Thryv Holdings, Inc. ( NASDAQ:THRY ) filed its first-quarter result this time last...Analysis Article • Apr 24
Revenues Not Telling The Story For Thryv Holdings, Inc. (NASDAQ:THRY)
It's not a stretch to say that Thryv Holdings, Inc.'s ( NASDAQ:THRY ) price-to-sales (or "P/S") ratio of 0.9x seems...Analysis Article • Jan 06
Thryv Holdings (NASDAQ:THRY) Shareholders Will Want The ROCE Trajectory To Continue
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • Oct 09
Does Thryv Holdings (NASDAQ:THRY) Have A Healthy Balance Sheet?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$14m |
| Dec 31 2025 | US$5m | US$1m | US$307k |
| Sep 30 2025 | n/a | n/a | US$18m |
| Jun 30 2025 | n/a | n/a | -US$84m |
| Mar 31 2025 | n/a | n/a | -US$92m |
| Dec 31 2024 | US$5m | US$1m | -US$74m |
| Sep 30 2024 | n/a | n/a | -US$340m |
| Jun 30 2024 | n/a | n/a | -US$271m |
| Mar 31 2024 | n/a | n/a | -US$260m |
| Dec 31 2023 | US$6m | US$1m | -US$259m |
| Sep 30 2023 | n/a | n/a | -US$52m |
| Jun 30 2023 | n/a | n/a | -US$12m |
| Mar 31 2023 | n/a | n/a | US$30m |
| Dec 31 2022 | US$7m | US$1m | US$54m |
| Sep 30 2022 | n/a | n/a | US$110m |
| Jun 30 2022 | n/a | n/a | US$132m |
| Mar 31 2022 | n/a | n/a | US$99m |
| Dec 31 2021 | US$3m | US$1m | US$102m |
| Sep 30 2021 | n/a | n/a | US$206m |
| Jun 30 2021 | n/a | n/a | US$171m |
| Mar 31 2021 | n/a | n/a | US$158m |
| Dec 31 2020 | US$4m | US$1m | US$149m |
| Sep 30 2020 | n/a | n/a | US$37m |
| Jun 30 2020 | n/a | n/a | US$37m |
| Mar 31 2020 | n/a | n/a | US$29m |
| Dec 31 2019 | US$29m | US$1m | US$36m |
Compensation vs Market: Joe's total compensation ($USD5.26M) is above average for companies of similar size in the US market ($USD1.59M).
Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.
CEO
Joe Walsh (62 yo)
11.7yrs
Tenure
US$5,259,837
Compensation
Mr. Joseph A. Walsh, also known as Joe, serves as Chief Executive Officer and Director of Thryv Holdings, Inc. (formerly known as Thryv, Inc.) (formerly known as Dex Media Holdings, Inc.) since October 201...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 11.7yrs | US$5.26m | 4.94% $ 9.1m | |
| President | 2.8yrs | US$3.39m | 0.22% $ 408.0k | |
| CFO, Executive VP & Treasurer | 11.6yrs | US$3.43m | 0.40% $ 730.0k | |
| Executive VP and Chief Operations & Customer Success Officer | 11.4yrs | US$2.51m | 0.44% $ 814.3k | |
| Chief Legal Officer and Human Resources | 7yrs | US$2.40m | 0.23% $ 420.8k | |
| Chief Technology Officer | less than a year | no data | no data | |
| Assistant Vice President of Investor Relations | no data | no data | no data | |
| VP of Partnerships & Sales | 1.3yrs | no data | no data | |
| Head of Thryv Australia and New Zealand & VP of Revenue ANZ | no data | no data | no data | |
| Chief Product Officer | 2.2yrs | no data | no data |
4.9yrs
Average Tenure
61yo
Average Age
Experienced Management: THRY's management team is considered experienced (4.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 11.7yrs | US$5.26m | 4.94% $ 9.1m | |
| Independent Director | 5.8yrs | US$271.88k | 0.030% $ 54.4k | |
| Independent Director | 5.8yrs | US$265.00k | 0.030% $ 54.6k | |
| Independent Director | 5.8yrs | US$265.00k | 0.028% $ 52.1k | |
| Lead Independent Director | 9.9yrs | US$318.75k | 0.053% $ 96.9k | |
| Independent Director | 5.8yrs | US$271.88k | 0.025% $ 45.3k | |
| Independent Director | 1yr | US$227.50k | 0.011% $ 20.6k |
5.8yrs
Average Tenure
55yo
Average Age
Experienced Board: THRY's board of directors are considered experienced (5.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/02 04:44 |
| End of Day Share Price | 2026/06/02 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Thryv Holdings, Inc. is covered by 8 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Stephen Weiss | BofA Global Research |
| Jason Alper | BTIG |
| Jason Kreyer | Craig-Hallum Capital Group LLC |