Thryv Stock Plummets Over 35% on Q2 Earnings Miss, SaaS Guidance Cut

Shares of Thryv Holdings Inc. (NASDAQ: THRY) plunged more than 35% in Tuesday trading after the company reported second-quarter financial results that fell significantly short of analyst expectations and cut its forecast for its core software division.

Earnings and Guidance Disappoint

Thryv announced its Q2 2026 results before the market open, revealing a performance that missed on both the top and bottom lines. The report highlighted several key concerns for investors:

• Adjusted Loss: The company posted an adjusted loss of $0.38 per share, substantially worse than the consensus estimate for a $0.10 loss.
• Revenue Decline: Total revenue was $150.7 million, a decline of approximately 28% compared to the same period in the prior year.
• SaaS Slowdown: Revenue from its software-as-a-service (SaaS) segment, central to the company's growth strategy, was $114.5 million. This figure was essentially flat year-over-year, a dramatic deceleration from the 48% growth reported in Q2 2025.

Compounding the weak quarterly results, Thryv revised its full-year SaaS revenue guidance downward. This move directly challenged the investment thesis that the company's transition from legacy marketing services to a recurring software model would fuel sustainable growth.

Restructuring and Market Reaction

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In response to the deteriorating financial performance, management announced a new restructuring plan. The company aims to achieve between $55 million and $60 million in annualized cost savings through this initiative.

A separately announced strategic partnership with Wix, intended to deliver integrated solutions for small businesses, failed to reassure investors. The focus remained squarely on the earnings miss and guidance reduction, which sent shares tumbling toward their 52-week low.

Context for the Sell-Off

The sharp decline in Thryv's stock was particularly stark against a backdrop of broad market strength. On the same day, the S&P 500 gained 1.8% and the Nasdaq Composite climbed 2.5%, underscoring the company-specific nature of the sell-off.

The combination of a severe earnings miss, a guidance cut for its most important business segment, and the announcement of a major restructuring overwhelmed any potential positive sentiment, leading to a significant loss of investor confidence.