Thryv Holdings, Inc. Files 2023 Annual Report on Form 10-K

Ticker: THRY · Form: 10-K · Filed: Feb 22, 2024 · CIK: 1556739

Thryv Holdings, Inc. 10-K Filing Summary
FieldDetail
CompanyThryv Holdings, Inc. (THRY)
Form Type10-K
Filed DateFeb 22, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $510.5 million, $142.7 million
Sentimentneutral

Sentiment: neutral

Topics: 10-K, Annual Report, Thryv Holdings, Financials, SEC Filing

TL;DR

<b>Thryv Holdings, Inc. has submitted its 2023 annual report on Form 10-K, detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Thryv Holdings, Inc. (THRY) filed a Annual Report (10-K) with the SEC on February 22, 2024. Thryv Holdings, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company was formerly known as DEX MEDIA, INC. and NEWDEX, INC. Thryv Holdings, Inc. is incorporated in Delaware. The company's principal business address is 2200 West Airfield Drive, D/FW Airport, TX 75261.

Why It Matters

For investors and stakeholders tracking Thryv Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Thryv's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors assessing the company's current standing and future prospects. The filing includes detailed financial statements and disclosures, offering insights into revenue streams, profitability, and balance sheet items, which are essential for understanding the company's performance against its peers and market trends.

Risk Assessment

Risk Level: medium — Thryv Holdings, Inc. shows moderate risk based on this filing. The company's financial performance and future outlook are subject to various market and operational risks inherent in the advertising and services industry, as detailed in their 10-K filings.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Thryv Holdings' financial health and strategic direction.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Reporting period)
  • 2024-02-22 — Filing Date (Date of submission)
  • 001-35895 — SEC File Number (SEC registration number)
  • 2200 West Airfield Drive — Business Address (Company headquarters location)

Key Players & Entities

  • Thryv Holdings, Inc. (company) — Filer name
  • DEX MEDIA, INC. (company) — Former company name
  • NEWDEX, INC. (company) — Former company name
  • 2023-12-31 (date) — Fiscal year end
  • 2024-02-22 (date) — Filing date
  • 7310 (industry_code) — Standard Industrial Classification
  • DE (state) — State of incorporation
  • TX (state) — State in business address

FAQ

When did Thryv Holdings, Inc. file this 10-K?

Thryv Holdings, Inc. filed this Annual Report (10-K) with the SEC on February 22, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Thryv Holdings, Inc. (THRY).

Where can I read the original 10-K filing from Thryv Holdings, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Thryv Holdings, Inc..

What are the key takeaways from Thryv Holdings, Inc.'s 10-K?

Thryv Holdings, Inc. filed this 10-K on February 22, 2024. Key takeaways: Thryv Holdings, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company was formerly known as DEX MEDIA, INC. and NEWDEX, INC..

Is Thryv Holdings, Inc. a risky investment based on this filing?

Based on this 10-K, Thryv Holdings, Inc. presents a moderate-risk profile. The company's financial performance and future outlook are subject to various market and operational risks inherent in the advertising and services industry, as detailed in their 10-K filings.

What should investors do after reading Thryv Holdings, Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess Thryv Holdings' financial health and strategic direction. The overall sentiment from this filing is neutral.

How does Thryv Holdings, Inc. compare to its industry peers?

Thryv Holdings operates in the services-advertising industry (SIC 7310), providing digital marketing solutions and business management software to small and medium-sized businesses.

Are there regulatory concerns for Thryv Holdings, Inc.?

As a publicly traded company, Thryv Holdings is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

Industry Context

Thryv Holdings operates in the services-advertising industry (SIC 7310), providing digital marketing solutions and business management software to small and medium-sized businesses.

Regulatory Implications

As a publicly traded company, Thryv Holdings is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

  1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
  2. Analyze the risk factors section to understand potential challenges and uncertainties facing Thryv Holdings.
  3. Compare Thryv's reported financial metrics with industry benchmarks and historical performance.

Key Dates

  • 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
  • 2024-02-22: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted from the provided text, and no prior filing data is available for comparison.

Filing Stats: 4,414 words · 18 min read · ~15 pages · Grade level 13.2 · Accepted 2024-02-22 07:34:01

Key Financial Figures

  • $0.01 — ange on which registered Common Stock, $0.01 par value per share THRY The Nasdaq Sto
  • $510.5 million — S. and International segments generated $510.5 million and $142.7 million of revenue for the y
  • $142.7 million — l segments generated $510.5 million and $142.7 million of revenue for the year ended December

Filing Documents

Risk Factors

Item 1A. Risk Factors 12 Item 1B. Unresolved Staff Comments 39

Cybersecurity

Item 1C. Cybersecurity 39 Item 2.

Legal Proceedings

Item 3. Legal Proceedings 40 Item 4. Mine Safety Disclosures 40 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. Reserved 41 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 59 Consolidated Statements of Operations and Comprehensive (Loss) Income 63 Consolidated Balance Sheets 64 Consolidated Statements of Changes in Stockholders' Equity 65 Consolidated Statements of Cash Flows 66

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 67 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 106 Item 9A.

Controls and Procedures

Controls and Procedures 106 Item 9B. Other Information 109

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 109 PART III Item 10. Directors, Executive Officers and Corporate Governance 109 Item 11.

Executive Compensation

Executive Compensation 109 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 109 Item 13. Certain Relationships and Related Transactions, and Director Independence 109 Item 14. Principal Accountant Fees and Services 109 PART IV Item 15. Exhibits and Financial Statement Schedules 109 Item 16. Form 10-K Summary 112

SIGNATURES

SIGNATURES 113 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (" Annual Report ") contains forward-looking statements that reflect our current views with respect to future events and financial performance. Such statements are provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995 and include, without limitation, statements concerning the conditions of our industry and our operations, performance, and financial condition, including, in particular, statements relating to our business, growth strategies, product development efforts, and future expenses. Forward-looking statements include all statements that do not relate solely to historical or current facts and generally can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "could," "estimates," "expects," "likely," "may," and similar references to future periods, or by the inclusion of forecasts or projections. Examples of forward-looking statements include, but are not limited to, statements we make regarding the outlook for our future business and financial performance, such as those contained in "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Accordingly, we caution you against relying on forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national, or global political, economic, business, competitive, ma

Business

Item 1. Business Overview We are dedicated to supporting local, independent service-based businesses and emerging franchises by providing a cloud-based software platform, and innovative marketing solutions to the entrepreneurs who run them. Our company is built upon a rich legacy in the marketing and advertising industry. We are one of the largest providers of print and digital marketing solutions to SMBs and SaaS all-in-one small business management software. Our solutions enable our SMB clients to generate new business leads, manage their customer relationships, and run their day-to-day operations. As of December 31, 2023 , we serve approximately 350,000 SMB clients through four business segments: Thryv U.S. Marketing Services, Thryv U.S. SaaS, Thryv International Marketing Services and Thryv International SaaS. On April 3, 2023, Thryv New Zealand Limited, the Company's wholly-owned subsidiary, acquired Yellow Holdings Limited, a New Zealand marketing services company (the " Yellow Acquisition "). In addition, on January 21, 2022, Thryv, Inc., the Company's wholly-owned subsidiary, acquired Vivial Media Holdings, Inc., a marketing and advertising company with operations in the United States . Further, o n March 1, 2021, the Company completed the acquisition of Sensis Holding Limited (" Thryv Australia "), a provider of marketing solutions serving SMBs in Australia (the " Thryv Australia Acquisition " ) . The Company reports its results based on four reportable segments (see Note 17, Segment Information) : Thryv U.S. Marketing Services, which includes the Company's print and digital solutions business in the United States; Thryv U.S. SaaS, which includes the Company's SaaS flagship all-in-one small business management platform in the United States; Thryv International Marketing Services, which is comprised of Thryv's print and digital solutions business outside of the United States; and Thryv International SaaS, which includes our SaaS flagship all-in-

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