Thryv (THRY) 10-Q1 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-35895
Entity Registrant Name	THRYV HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2740040
Entity Address, Address Line One	2200 West Airfield Drive, P.O. Box 619810
Entity Address, City or Town	D/FW Airport
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75261
City Area Code	(972)
Local Phone Number	453-7000
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	THRY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		36,303,038
Entity Central Index Key	0001556739
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue	$ 224,084	$ 251,421	$ 457,708	$ 496,976
Cost of services	75,496	91,336	155,479	182,083
Gross profit	148,588	160,085	302,229	314,893
Operating expenses:
Sales and marketing	65,409	75,683	135,500	152,026
General and administrative	51,841	53,695	104,257	101,375
Total operating expenses	117,250	129,378	239,757	253,401
Operating income	31,338	30,707	62,472	61,492
Other income (expense):
Interest expense, nonoperating	(12,175)	(16,292)	(25,534)	(32,780)
Other components of net periodic pension cost	(1,581)	(1,865)	(3,162)	(1,986)
Other expense	(5,416)	0	(7,789)	(366)
Income before income tax (expense) benefit	12,166	12,550	25,987	26,360
Income tax (expense) benefit	(6,618)	3,428	(12,015)	(1,068)
Net income	5,548	15,978	13,972	25,292
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	67	(302)	(198)	(2,490)
Comprehensive income	$ 5,615	$ 15,676	$ 13,774	$ 22,802
Net income per common share:
Basic (in dollars per share)	$ 0.15	$ 0.46	$ 0.39	$ 0.73
Diluted (in dollars per share)	$ 0.15	$ 0.43	$ 0.37	$ 0.68
Weighted-average shares used in computing basic and diluted net income per common share:
Basic (in shares)	36,004,324	34,575,338	35,818,549	34,625,561
Diluted (in shares)	37,631,825	36,863,295	38,032,132	36,956,933
Nonrelated Party
Other income (expense):
Interest expense, nonoperating	$ (10,001)	$ (16,292)	$ (23,360)	$ (32,780)
Related Party
Other income (expense):
Interest expense, nonoperating	$ (2,174)	$ 0	$ (2,174)	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 15,519	$ 18,216
Accounts receivable, net of allowance of $18,042 in 2024 and $14,926 in 2023	193,725	205,503
Contract assets, net of allowance of $37 in 2024 and $35 in 2023	8,118	2,909
Taxes receivable	1,516	3,085
Prepaid expenses	23,124	17,771
Deferred costs	12,796	16,722
Other current assets	5,822	2,662
Total current assets	260,620	266,868
Fixed assets and capitalized software, net	37,805	38,599
Goodwill	300,995	302,400
Intangible assets, net	6,640	18,788
Deferred tax assets	152,171	128,051
Other assets	27,252	28,464
Total assets	785,483	783,170
Current liabilities
Accounts payable	8,661	10,348
Accrued liabilities	110,193	105,903
Current portion of unrecognized tax benefits	25,060	23,979
Contract liabilities	25,668	44,558
Other current liabilities	6,022	8,402
Total current liabilities	228,104	263,190
ABL Facility	18,000	48,845
Pension obligations, net	72,279	69,388
Other liabilities	12,448	18,995
Total long-term liabilities	374,319	367,280
Commitments and contingencies (see Note 13)
Stockholders' equity
Common stock - $0.01 par value, 250,000,000 shares authorized; 63,808,097 shares issued and 36,294,269 shares outstanding at June 30, 2024; and 62,660,783 shares issued and 35,302,746 shares outstanding at December 31, 2023	638	627
Additional paid-in capital	1,170,798	1,151,259
Treasury stock - 27,513,828 shares at June 30, 2024 and 27,358,037 shares at December 31, 2023	(488,757)	(485,793)
Accumulated other comprehensive loss	(15,389)	(15,191)
Accumulated deficit	(484,230)	(498,202)
Total stockholders' equity	183,060	152,700
Total liabilities and stockholders' equity	785,483	783,170
Nonrelated Party
Current liabilities
Current portion of Term Loan	35,783	70,000
Term Loan, net	183,772	230,052
Related Party
Current liabilities
Current portion of Term Loan	16,717	0
Term Loan, net	$ 87,820	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance	$ 18,042	$ 14,926
Contract assets, net of allowance	$ 37	$ 35
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	250,000,000	250,000,000
Common stock, issued (in shares)	63,808,097	62,660,783
Common stock, outstanding (in shares)	36,294,269	35,302,746
Treasury stock (in shares)	27,513,828	27,358,037

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		61,279,379
Beginning balance at Dec. 31, 2022	$ 382,267	$ 613	$ 1,105,701	$ (468,879)	$ (16,261)	$ (238,907)
Beginning balance, treasury stock (in shares) at Dec. 31, 2022				(26,685,542)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares related to stock-based compensation (in shares)		552,936		(55,533)
Issuance of shares related to stock-based compensation	3,826	$ 5	4,912	$ (1,091)
Stock-based compensation expense	11,191		11,191
Settlement of indemnification asset (in shares)				(613,954)
Settlement of indemnification asset	(15,760)			$ (15,760)
Foreign currency translation adjustment, net of tax	(2,490)				(2,490)
Net income	25,292					25,292
Ending balance (in shares) at Jun. 30, 2023		61,832,315
Ending balance at Jun. 30, 2023	404,326	$ 618	1,121,804	$ (485,730)	(18,751)	(213,615)
Ending balance, treasury stock (in shares) at Jun. 30, 2023				(27,355,029)
Beginning balance (in shares) at Mar. 31, 2023		61,557,811
Beginning balance at Mar. 31, 2023	395,053	$ 616	1,112,420	$ (469,941)	(18,449)	(229,593)
Beginning balance, treasury stock (in shares) at Mar. 31, 2023				(26,739,832)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares related to stock-based compensation (in shares)		274,504		(1,243)
Issuance of shares related to stock-based compensation	3,559	$ 2	3,586	$ (29)
Stock-based compensation expense	5,798		5,798
Settlement of indemnification asset (in shares)				(613,954)
Settlement of indemnification asset	(15,760)			$ (15,760)
Foreign currency translation adjustment, net of tax	(302)				(302)
Net income	15,978					15,978
Ending balance (in shares) at Jun. 30, 2023		61,832,315
Ending balance at Jun. 30, 2023	$ 404,326	$ 618	1,121,804	$ (485,730)	(18,751)	(213,615)
Ending balance, treasury stock (in shares) at Jun. 30, 2023				(27,355,029)
Beginning balance (in shares) at Dec. 31, 2023	35,302,746	62,660,783
Beginning balance at Dec. 31, 2023	$ 152,700	$ 627	1,151,259	$ (485,793)	(15,191)	(498,202)
Beginning balance, treasury stock (in shares) at Dec. 31, 2023	(27,358,037)			(27,358,037)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares related to stock-based compensation (in shares)		1,147,314		(129,296)
Issuance of shares related to stock-based compensation	$ 5,443	$ 11	7,897	$ (2,465)
Stock-based compensation expense	11,642		11,642
Purchase of treasury stock (in shares)				(26,495)
Purchase of treasury stock	(499)			$ (499)
Foreign currency translation adjustment, net of tax	(198)				(198)
Net income	$ 13,972					13,972
Ending balance (in shares) at Jun. 30, 2024	36,294,269	63,808,097
Ending balance at Jun. 30, 2024	$ 183,060	$ 638	1,170,798	$ (488,757)	(15,389)	(484,230)
Ending balance, treasury stock (in shares) at Jun. 30, 2024	(27,513,828)			(27,513,828)
Beginning balance (in shares) at Mar. 31, 2024		63,306,246
Beginning balance at Mar. 31, 2024	$ 167,066	$ 633	1,159,754	$ (488,087)	(15,456)	(489,778)
Beginning balance, treasury stock (in shares) at Mar. 31, 2024				(27,479,338)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares related to stock-based compensation (in shares)		501,851		(7,995)
Issuance of shares related to stock-based compensation	4,525	$ 5	4,691	$ (171)
Stock-based compensation expense	6,353		6,353
Purchase of treasury stock (in shares)				(26,495)
Purchase of treasury stock	(499)			$ (499)
Foreign currency translation adjustment, net of tax	67				67
Net income	$ 5,548					5,548
Ending balance (in shares) at Jun. 30, 2024	36,294,269	63,808,097
Ending balance at Jun. 30, 2024	$ 183,060	$ 638	$ 1,170,798	$ (488,757)	$ (15,389)	$ (484,230)
Ending balance, treasury stock (in shares) at Jun. 30, 2024	(27,513,828)			(27,513,828)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities
Net income	$ 13,972	$ 25,292
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	28,625	31,098
Amortization of deferred commissions	9,624	5,032
Amortization of debt issuance costs	2,255	2,721
Deferred income taxes	(24,060)	(9,135)
Provision for credit losses and service credits	12,179	11,580
Stock-based compensation expense	11,642	11,191
Other components of net periodic pension cost	3,162	1,986
Loss (gain) on foreign currency exchange rates	1,151	(881)
Non-cash loss from the remeasurement of the indemnification asset	0	10,734
Loss on early extinguishment of debt	6,638	0
Other	(3,170)	0
Changes in working capital items, excluding acquisitions:
Accounts receivable	923	25,075
Contract assets	(5,210)	837
Prepaid expenses and other assets	(10,614)	10,090
Accounts payable and accrued liabilities	2,428	(38,654)
Other liabilities	(21,885)	(29,230)
Net cash provided by operating activities	27,660	57,736
Cash Flows from Investing Activities
Additions to fixed assets and capitalized software	(16,230)	(14,016)
Acquisition of a business, net of cash acquired	0	(8,897)
Other	0	(217)
Net cash used in investing activities	(16,230)	(23,130)
Cash Flows from Financing Activities
Debt issuance costs	(5,319)	0
Purchase of treasury stock	(499)	0
Other	5,442	3,826
Net cash used in financing activities	(10,514)	(34,951)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(448)	(240)
Increase (decrease) in cash, cash equivalents and restricted cash	468	(585)
Cash, cash equivalents and restricted cash, beginning of period	20,530	18,180
Cash, cash equivalents and restricted cash, end of period	20,998	17,595
Supplemental Information
Cash paid for interest	24,378	29,592
Cash paid for income taxes, net	13,343	7,419
Non-cash investing and financing activities
Repurchase of Treasury stock as a result of the settlement of the indemnification asset	0	15,760
Term Loan \| Nonrelated Party
Cash Flows from Financing Activities
Proceeds from Term Loan	234,256	0
Payments of Term Loan	(318,654)	(52,500)
Term Loan \| Related Party
Cash Flows from Financing Activities
Proceeds from Term Loan	109,444	0
Payments of Term Loan	(4,339)	0
ABL Facility \| Revolving Credit Facility
Cash Flows from Financing Activities
Proceeds from ABL Facility	230,079	483,473
Payments of ABL Facility	$ (260,924)	$ (469,750)

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies General Thryv Holdings, Inc. (“ Thryv ” or the “ Company ”) provides small-to-medium sized businesses (“ SMBs ”) with print and digital marketing services and Software as a Service (“ SaaS ”) business management tools. The Company owns and operates Print Yellow Pages (“ PYP ” or “Print ”) and digital marketing services (“ Digital ”), which includes Internet Yellow Pages (“ IYP ”), search engine marketing ( “SEM ”), and other digital media services, including online display advertising, and search engine optimization (“ SEO ”) tools. In addition, through the Thryv® platform, the Company is a provider of SaaS business management, communication, and marketing tools designed for SMBs. On April 3, 2023, Thryv New Zealand Limited, the Company’s wholly-owned subsidiary, acquired Yellow Holdings Limited (“ Yellow ”), a New Zealand marketing services company . During the first quarter of 2024, the Company changed the internal reporting provided to the chief operating decision maker ( “ CODM ” ). As a result, the Company reevaluated its segment reporting and determined that Thryv U.S. Marketing Services and Thryv International Marketing Services should be reflected as a single reportable segment, and that Thryv U.S. SaaS and Thryv International SaaS should be reflected as a single reportable segment. As such, beginning on January 1, 2024, the results of our Marketing Services and SaaS businesses will be presented as two reportable segments. Comparative prior periods have been recast to reflect the current presentation. The Company reports its results based on two reportable segments (see Note 15, Segment Information) : • Thryv Marketing Services, which includes the Company's Print and Digital solutions business; and • Thryv SaaS, which includes the Company's SaaS flagship all-in-one small business management modular software platform. Basis of Presentation The Company prepares its financial statements in accordance with generally accepted accounting principles in the United States (“ U.S. GAAP ”). The consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “ SEC ”) regarding interim financial reporting. Accordingly, certain information and disclosures normally included in the complete financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. The consolidated financial statements include the financial statements of Thryv Holdings, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, consisting of only normal recurring items and accruals, necessary for the fair statement of the financial position, results of operations and cash flows of the Company for the periods presented. The consolidated financial statements as of and for the three and six months ended June 30, 2024 and 2023 have been prepared on the same basis as the audited annual financial statements . The consolidated balance sheet as of December 31, 2023 was derived from the audited annual financial statements. The consolidated results for interim periods are not necessarily indicative of results for the full year and should be read in conjunction with the Company’s audited financial statements and related footnotes for the year ended December 31, 2023. Use of Estimates The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions about future events that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. The results of those estimates form the basis for making judgments about the carrying values of certain assets and liabilities. Examples of reported amounts that rely on significant estimates include revenue recognition, allowance for credit losses, assets acquired and liabilities assumed in business combinations, capitalized costs to obtain a contract, certain amounts relating to the accounting for income taxes, including valuation allowance, indemnification asset, stock-based compensation expense, operating lease right-of-use assets and operating lease liabilities, accrued service credits, and pension obligations. Significant estimates are also used in determining the recoverability and fair value of fixed assets and capitalized software, operating lease right-of-use assets, goodwill and intangible assets. Summary of Significant Accounting Policies The Company describes its significant accounting policies in Note 1 to the financial statements in Part II, Item 8 of its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. There have been no changes to the Company's significant accounting policies during the three and six months ended June 30, 2024. Restricted Cash The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Company's consolidated balance sheets to the amount shown in the Company's consolidated statements of cash flows for the six months ended June 30, 2024 and 2023: (in thousands) June 30, 2024 June 30, 2023 Cash and cash equivalents $ 15,519 $ 15,245 Restricted cash, included in Other current assets 5,479 2,350 Total cash, cash equivalents and restricted cash $ 20,998 $ 17,595 Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“ FASB ”) issued ASU No. 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ” (“ ASU 2023-07 ”). ASU 2023-07 requires additional disclosures, including more detailed information about segment expenses about a public entity’s reportable segments on an annual and interim basis. The new segment disclosures are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Management will review the extent of new disclosures necessary in the coming quarters, prior to implementation in the Company's 2024 Annual Report on Form 10-K. Other than additional disclosures, the Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures ” (“ ASU 2023-09 ”). ASU 2023-09 requires additional disclosures primarily related to the rate reconciliation and income taxes paid information. The new income tax disclosures are effective for fiscal years beginning after December 15, 2024. Management will review the extent of new disclosures necessary in the coming years, prior to implementation in the Company's 2025 Annual Report on Form 10-K. Other than additional disclosures, the Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Yellow New Zealand Acquisition On April 3, 2023 (the “ Yellow Acquisition Date ”), Thryv New Zealand Limited, the Company’s wholly-owned subsidiary, acquired Yellow, a New Zealand marketing services company for $8.9 million in cash (net of $1.7 million of cash acquired), subject to certain adjustments (the “ Yellow Acquisition ”). The Yellow Acquisition expanded the Company's market share with a broader geographical footprint and provided the Company with an increase in our clients. Yellow is a provider of marketing solutions serving SMBs in New Zealand. Control was obtained by means of acquiring all the voting interests. The assets acquired consisted primarily of $2.4 million in current assets and $5.6 million in fixed and intangible assets, consisting primarily of customer relationships, trade name, and technology assets, along with $5.1 million in goodwill. The Company also assumed liabilities of $4.7 million, consisting primarily of accrued, contract, and deferred liabilities. The Company accounted for the Yellow Acquisition using the acquisition method of accounting in accordance with Accounting Standards Codification 805, Business Combinations ( “ ASC 805 ” ) . This requires that the assets acquired and liabilities assumed are measured at fair value. With the assistance of a third-party valuation firm, the Company determined, using Level 3 inputs (see Note 4, Fair Value Measurements ), the fair value of certain assets and liabilities, including fixed assets and intangible assets by applying the income approach and the cost approach. Specific to intangible assets, client relationships were valued using a combination of the income and excess earnings approach, whereas trade names were valued using a relief of royalty method and assumptions related to Yellow's assets acquired and liabilities assumed . The fair values of existing technologies were computed using a relief of royalty approach, similar to the trade name valuation. The following table summarizes the assets acquired and liabilities assumed at the Yellow Acquisition Date: (in thousands) Current assets $ 2,438 Fixed and intangible assets 5,565 Other assets 457 Current liabilities (3,533) Other liabilities (1,159) Goodwill 5,129 Fair value allocated to net assets acquired $ 8,897 The excess of the purchase price over the fair value of the identifiable net assets acquired and the liabilities assumed was allocated to goodwill. The recognized goodwill of $5.1 million was primarily related to the benefits expected from the acquisition and was allocated to the Thryv Marketing Services segment. The goodwill recognized is not deductible for income tax purposes.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company has determined that each of its Print and Digital marketing services and SaaS business management tools services is distinct and represents a separate performance obligation. The client can benefit from each service on its own or together with other resources that are readily available to the client. Services are separately identifiable from other promises in the contract. Control over the Company’s Print services transfers to the client upon delivery of the published directories containing their advertisements to the intended market(s). Therefore, revenue associated with Print services is recognized at a point in time upon delivery to the intended market(s). The Company bills clients for Print advertising services monthly over the relative contract term. The difference between the timing of recognition of Print advertising revenue and monthly billing generates the Company’s unbilled receivables balance. The unbilled receivables balance is reclassified as billed accounts receivable through the passage of time as the clients a re invoiced each month. SaaS and Digital marketing services are recognized using the series guidance. Under the series guidance, the Company's obligation to provide services is the same for each day under the contract, and therefore represents a single performance obligation. Revenue associated with SaaS and Digital marketing services is recognized over time using an output method to measure the progress toward satisfying a performance obligation. Disaggregation of Revenue The Company presents disaggregated revenue based on the type of service within its segment footnote. See Note 15, Segment Information . Contract Assets and Liabilities The timing of revenue recognition may differ from the timing of billing to the Company’s clients. These timing differences result in receivables, contract assets, or contract liabilities (deferred revenue) as disclosed on the Company's consolidated balance sheets. Contract assets represent the Company's right to consideration when revenue recognized exceeds the receivable from the client because the consideration allocated to fulfilled performance obligations exceeds the Company’s right to payment, and the right to payment is subject to more than the passage of time. Contract liabilities represent remaining performance obligations that consist of advance payments and revenue deferrals resulting from the allocation of the consideration to performance obligations. The Company recognizes revenue on all of its remaining performance obligations within the next twelve months. For the three and six months ended June 30, 2024, the Company recognized revenue of $8.3 million and $36.8 million, respectively, that was recorded in Contract liabilities as of December 31, 2023

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to settle a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Level 3 — Unobservable inputs that reflect the Company's own assumptions incorporated into valuation techniques. These valuations require significant judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When there is more than one input at different levels within the hierarchy, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Assessment of the significance of a particular input to the fair value measurement in its entirety requires substantial judgment and consideration of factors specific to the asset or liability. Level 3 inputs are inherently difficult to estimate. Changes to these inputs can have a significant impact on fair value measurements. Assets and liabilities measured at fair value using Level 3 inputs are based on one or more of the following valuation techniques: market approach, income approach or cost approach. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company’s non-financial assets such as goodwill, intangible assets, fixed assets, capitalized software and operating lease right-of-use assets are adjusted to fair value when the net book values of the assets exceed their respective fair values, resulting in an impairment charge. Such fair value measurements are predominantly based on Level 3 inputs. Assets and Liabilities Measured at Fair Value on a Recurring Basis Indemnification Asset On June 30, 2017, the Company completed the acquisition of YP Holdings, Inc. (the “ YP Acquisition ”). As further discussed in Note 13, Contingent Liabilities , as part of the YP Acquisition agreement, the Company was indemnified for an uncertain tax position for up to the fair value of 1,804,715 shares held in escrow, subject to certain contract limitations (the “indemnification asset” ). On June 22, 2023, the Company entered into a settlement agreement with the sellers regarding the settlement of the indemnification asset. Pursuant to the settlement agreement, the Company and the sellers agreed (i) that the sellers would pay and indemnify the Company for $15.8 million of indemnified taxes (the “Indemnity Amount” ) and (ii) that the Indemnity Amount would be deemed satisfied by the transfer of 613,954 outstanding shares of the Company’s common stock from the sellers back to the Company, which were returned to treasury and reduced the number of outstanding shares of the Company’s common stock. Furthermore, the sellers would be entitled to retain 1,190,761 currently outstanding shares of the Company’s common stock that previously secured the sellers' tax indemnity obligations under the YP Acquisition agreement. As of June 30, 2024 and December 31, 2023, the Company no longer recorded a Level 1 indemnification asset because it was settled on June 22, 2023. A loss of $11.5 million and $10.7 million from the change in fair value of the Company’s Level 1 indemnification asset during the three and six months ended June 30, 2023 was recorded in General and administrative expense on the Company's consolidated statements of operations and comprehensive income. The $15.8 million Indemnity Amount, which was the fair value of the shares returned to treasury, was recorded in Treasury stock on the Company's consolidated balance sheets, along with the 613,954 shares that the Company received from the sellers, as of June 30, 2023 . Benefit Plan Assets The fair value of benefit plan assets is measured and recorded on the Company's consolidated balance sheets using Level 2 inputs. See Note 9, Pensions . Fair Value of Financial Instruments The Company considers the carrying amounts of cash, trade receivables, and accounts payable to approximate fair value because of the relatively short period of time between the origination of these instruments and their expected realization or payment. Additionally, the Company considers the carrying amounts of its New ABL Facility and Prior ABL Facility (each as defined in Note 8, Debt Obligations ) and financing obligations to approximate their respective fair values due to their short-term nature and approximation of interest rates to market rates. These fair value measurements are considered Level 2. See Note 8, Debt Obligations . The New Term Loan and Prior Term Loan (each as defined in Note 8, Debt Obligations ) are carried at amortized cost; however, the Company estimates the fair value of the New Term Loan and Prior Term Loan for disclosure purposes. The fair values of the New Term Loan and Prior Term Loan are determined based on quoted prices that are observable in the marketplace and are classified as Level 2 measurements. See Note 8, Debt Obligations . The following table sets forth the carrying amount and fair value of the New Term Loan and Prior Term Loan: June 30, 2024 December 31, 2023 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value New Term Loan, net $ 324,092 $ 329,763 $ — $ — Prior Term Loan, net — — 300,052 300,052

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The following table sets forth the changes in the carrying amount of the Company's goodwill for the six months ended June 30, 2024 and the year ended December 31, 2023 . (in thousands) Thryv Marketing Services Thryv SaaS Total Balance as of December 31, 2022 $ 347,120 $ 218,884 $ 566,004 Yellow Acquisition (1) 5,129 — 5,129 Impairments (268,800) — (268,800) Effects of foreign currency translation 67 — 67 Balance as of December 31, 2023 $ 83,516 $ 218,884 $ 302,400 Effects of foreign currency translation (1,405) — (1,405) Balance as of June 30, 2024 $ 82,111 $ 218,884 $ 300,995 (1) Yellow was included in the Thryv Marketing Services reporting unit. In the first quarter of 2024, the Company changed its reporting structure from four to two reporting units. Accordingly, the Company assessed its goodwill for impairment under a four reporting unit structure prior to the assessment. Upon completion of this assessment, the Company determined that no impairment existed. Subsequent to this review and after allocating goodwill to the new reporting units based on relative fair value, the Company reassessed goodwill for impairment at the new reporting unit level (i.e., the Marketing Services and SaaS reporting units). Based upon each of these assessments, the Company determined no impairment existed for any of the Company's reporting units. Intangible Assets The following tables set forth the details of the Company's intangible assets as of June 30, 2024 and December 31, 2023 : As of June 30, 2024 (in thousands) Gross Accumulated Net Weighted Client relationships $ 797,854 $ (792,836) $ 5,018 1.3 Trademarks and domain names 223,916 (222,487) 1,429 2.5 Covenants not to compete 4,921 (4,728) 193 1.0 Total intangible assets $ 1,026,691 $ (1,020,051) $ 6,640 1.5 As of December 31, 2023 (in thousands) Gross Accumulated Net Weighted Client relationships $ 799,882 $ (787,736) $ 12,146 1.4 Trademarks and domain names 224,423 (220,886) 3,537 1.9 Covenants not to compete 10,446 (7,341) 3,105 0.8 Total intangible assets $ 1,034,751 $ (1,015,963) $ 18,788 1.4 Amortization expense for intangible assets for the three and six months ended June 30, 2024 was $5.1 million and $10.5 million, respectively . Amortization expense for intangible assets for the three and six months ended June 30, 2023 was $6.5 million and $12.7 million, respectively. Estimated aggregate future amortization expense by fiscal year for the Company's intangible assets is as follows: (in thousands) Estimated Future 2024 (remaining) $ 4,195 2025 1,867 2026 403 2027 134 2028 41 Total $ 6,640

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
Allowance for Credit Losses	Jun. 30, 2024
Credit Loss [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The following table sets forth the Company's allowance for credit losses as of June 30, 2024 and 2023: (in thousands) 2024 2023 Balance as of January 1 $ 14,961 $ 14,799 Additions (1) 8,990 7,262 Deductions (2) (5,872) (7,634) Balance as of June 30 (3) $ 18,079 $ 14,427 (1) For the six months ended June 30, 2024 and 2023, the Company recorded a provision for credit losses of $9.0 million and $7.3 million, respectively, which is included in General and administrative expense in the Company's consolidated statements of operations and comprehensive income. For the three months ended June 30, 2024 and 2023, the Company recorded a provision for credit losses of $3.0 million a nd $3.4 million, respectively, which is included in General and administrative expense in the Company's consolidated statements of operations and comprehensive income. (2) For the six months ended June 30, 2024 and 2023, the deductions represent amounts written off as uncollectible, net of recoveries. (3) As of June 30, 2024, $18.0 million of the allowance is attributable to Accounts receivable and less than $0.1 million is attributable to Contract assets. As of June 30, 2023, $14.4 million of the allowance is attributable to Accounts receivable and less than $0.1 million is attributable to Contract assets. The Company’s exposure to expected credit losses depends on the financial condition of its clients and other macroeconomic factors. The Company maintains an allowance for credit losses based upon its estimate of potential credit losses. This allowance is based upon historical and current client collection trends, any identified client-specific collection issues, and current as well as expected future economic conditions and market trends.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
Accrued Liabilities	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities The following table sets forth additional financial information related to the Company's accrued liabilities as of June 30, 2024 and December 31, 2023: (in thousands) June 30, 2024 December 31, 2023 Accrued salaries and related expenses $ 45,255 $ 57,357 Accrued expenses 35,575 37,889 Accrued taxes 26,966 8,832 Accrued service credits 2,397 1,825 Accrued liabilities $ 110,193 $ 105,903

Debt Obligations

Debt Obligations	6 Months Ended
Debt Obligations	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations The following table sets forth the Company's outstanding debt obligations as of June 30, 2024 and December 31, 2023: (in thousands) Maturity Interest Rate June 30, 2024 December 31, 2023 New Term Loan May 1, 2029 SOFR + 6.75% $ 336,375 $ — Prior Term Loan March 1, 2026 SOFR + 8.5% — 309,368 New ABL Facility May 1, 2028 SOFR + 2.50% - 2.75% 18,000 — Prior ABL Facility March 1, 2026 SOFR + 3.0% — 48,845 Unamortized original issue discount and debt issuance costs (12,283) (9,316) Total debt obligations $ 342,092 $ 348,897 Current portion of New Term Loan/Prior Term Loan (52,500) (70,000) Total long-term debt obligations $ 289,592 $ 278,897 Term Loan On May 1, 2024, the Company entered into a new Term Loan Credit Agreement (the “ New Term Loan ”), the proceeds of which were used to refinance and pay off in full the Company’s previous term loan facility (the “ Prior Term Loan ”) and to pay fees and expenses related to the refinancing. The New Term Loan established a senior secured term loan facility (the “ New Term Loan Facility ”) in an aggregate principal amount equal to $350.0 million, of which 31.8% was held by a related party who was an equity holder of the Company as of May 1, 2024. The Company defines a related party as any shareholder owning more than 5% of the Company's voting securities. As of June 30, 2024, 31.8% of the New Term Loan was held by a related party who was an equity holder of the Company as of that date. The New Term Loan Facility matures on May 1, 2029 and borrowings under the New Term Loan Facility bear interest at a fluctuating rate per annum equal to, at the Company’s option, SOFR or base rate, in each case, plus an applicable margin per annum equal to (i) 6.75% (for SOFR loans) and (ii) 5.75% (for base rate loans). The New Term Loan Facility requires mandatory amortization payments, paid quarterly commencing June 30, 2024, equal to (i) $52.5 million per year for the first two years following the closing date of the New Term Loan, and (ii) $35.0 million per year thereafter. The New Term Loan, which was incurred by Thryv, Inc., the Company’s operating subsidiary, is secured by all the assets of Thryv, Inc., certain of its subsidiaries and the Company, and is guaranteed by the Company and certain of its subsidiaries. The net proceeds from the New Term Loan of $337.6 million (net of original issue discount costs of $6.3 million and third-party fees of $6.1 million) were used to repay the remaining $300.0 million outstanding principal balance of the Prior Term Loan, accrued interest of $3.8 million, and third-party fees of $0.6 million. The Company accounted for this transaction as a modification for lenders that were party to both the Prior Term Loan and New Term Loan. The debt of the new lenders that were party to the New Term Loan are new issuances, while the other lenders that were party to only the Prior Term Loan were accounted for as an extinguishment. Accordingly, total third-party fees paid were $6.1 million, of which $2.0 million was immediately charged to General and administrative expense on the Company's consolidated statement of operations and comprehensive income. The remaining third-party fees of $4.1 million were deferred as debt issuance costs and will be amortized to interest expense, over the term of the New Term Loan, using the effective interest method. Additionally, there were unamortized debt issuance costs which includes third-party fees and original issue discount costs of $7.8 million on the Prior Term Loan, of which $5.4 million was written off and recorded as a loss on early extinguishment of debt on the Company's consolidated statement of operations and comprehensive income. The remaining unamortized debt issuance costs of $2.4 million were deferred as debt issuance costs and will be amortized to interest expense, over the term of the New Term Loan, using the effective interest method. The Company has recorded accrued interest of $0.2 million and $1.1 million as of June 30, 2024 and December 31, 2023, respectively. Accrued interest is included in Other current liabilities on the Company's consolidated balance sheets. Term Loan Covenants The New Term Loan Facility contains certain covenants that, subject to exceptions, limit or restrict the Company’s ability to, among others, incur additional indebtedness, guarantees and liens; make investments, loans and advances; dispose of assets and make sale-leaseback transactions; enter into swap agreements; make payments of dividends and other distributions; make payments in respect of certain indebtedness; enter into certain affiliate transactions and restrictive amendments to certain agreements; change its lines of business; amend certain material documents; consummate certain mergers, consolidations and liquidations; and use the proceeds of the term loans. Additionally, the Company is required to maintain compliance with (a) a maximum “Total Net Leverage Ratio”, calculated as the ratio of “Consolidated Total Net Indebtedness” to “Consolidated EBITDA” (in each case, as defined in the New Term Loan, which shall not be 3.0 to 1.0 as of the last day of each fiscal quarter and (b) a minimum “SaaS Revenue” (as defined in the New Term Loan), which shall not be less than the quarterly thresholds set forth in the New Term Loan Agreement as of the last day of each fiscal quarter. As of June 30, 2024, the Company was in compliance with its New Term Loan covenants. The Company also expects to be in compliance with these covenants for the next twelve months. ABL Facility On May 1, 2024, the Company entered into a new Credit Agreement (the “ ABL Credit Agreement ”), which established a new $85.0 million asset-based revolving loan facility (the “ New ABL Facility ”). The New ABL Facility refinanced the Company’s previous asset-based revolving loan facility (the “Prior ABL Facility ”). Proceeds of the New ABL Facility may be used by the Company for ongoing general corporate purposes and working capital. The New ABL Facility matures on May 1, 2028 and borrowings under the New ABL Facility bear interest at a fluctuating rate per annum equal to, at the Company’s option, SOFR or base rate, in each case, plus an applicable margin per annum, depending on the average excess availability under the New ABL Facility, equal to (i) 2.50% to 2.75% (for SOFR loans) and (ii) 1.50% to 1.75% (for base rate loans). The fee for undrawn commitments under the New ABL Facility is equal to 0.375% per annum. The Company accounted for this transaction as an extinguishment of the Prior ABL Facility. Total third-party fees and lender fees of $1.2 million associated with the New ABL Facility, were deferred as debt issuance costs and will be amortized as interest expense, over the term of the New ABL Facility. Additionally, the unamortized debt issuance costs associated with the Prior ABL Facility of $1.2 million , were written off and recorded as a loss on early extinguishment of debt on the Company's consolidated statement of operations and comprehensive income. As of June 30, 2024 and December 31, 2023, the Company had debt issuance costs with a remaining balance of $1.2 million and $1.4 million, respectively. These debt issuance costs are included in Other assets on the Company's consolidated balance sheets. As of June 30, 2024, the Company had borrowing base availability of $64.8 million . As a result of certain restrictions in the Company's debt agreements, as of June 30, 2024, approximately $54.2 million was available to be drawn upon under the New ABL Facility. ABL Facility Covenants The ABL Credit Agreement contains certain covenants that, subject to exceptions, limit or restrict the Company’s ability to, among others, incur additional indebtedness, guarantees and liens; make investments, loans and advances; dispose of assets and make sale-leaseback transactions; enter into swap agreements; make payments of dividends and other distributions; make payments in respect of certain indebtedness; enter into certain affiliate transactions and restrictive amendments to certain agreements; change its lines of business; amend certain material documents; consummate certain mergers, consolidations and liquidations; and use the proceeds of the revolving loans. Additionally, the Company is required to maintain compliance with (a) a minimum “Fixed Charge Coverage Ratio”, calculated as the ratio of “Consolidated EBITDA” minus unfinanced capital expenditures to “Fixed Charges” (in each case, as defined in the ABL Credit Agreement), which shall not be less than 1.0 to 1.0 as of the last day of each fiscal quarter and (b) a minimum “Excess Availability” (as defined in the ABL Credit Agreement) of at least $8.5 million at all times. As of June 30, 2024, the Company was in compliance with its ABL Credit Agreement covenants. The Company also expects to be in compliance with these covenants for the next twelve months.

Pensions

Pensions	6 Months Ended
Pensions	Jun. 30, 2024
Retirement Benefits [Abstract]
Pensions	Pensions The Company maintains pension obligations associated with non-contributory defined benefit pension plans that are currently frozen and incur no additional service costs. The Company immediately recognizes actuarial gains and losses in its operating results in the period in which the gains and losses occur. The Company estimates the interest cost component of net periodic pension cost by utilizing a full yield curve approach and applying the specific spot rates along the yield curve used in the determination of the benefit obligations of the relevant projected cash flows. This method provides a more precise measurement of interest costs by improving the correlation between projected cash flows to the corresponding spot yield curve rates. Net Periodic Pension Cost The following table details the other components of net periodic pension cost for the Company's pension plans: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Interest cost $ 4,824 $ 7,406 $ 9,648 $ 10,910 Expected return on assets (3,243) (3,778) (6,486) (7,161) Settlement (gain) — (420) — (420) Remeasurement (gain) — (1,343) — (1,343) Net periodic pension cost $ 1,581 $ 1,865 $ 3,162 $ 1,986 Since all pension plans are frozen and no employees accrue future pension benefits under any of the pension plans, the rate of compensation increase assumption is no longer needed. The Company determines the weighted-average discount rate by applying a yield curve comprised of the yields on several hundred high-quality, fixed income corporate bonds available on the measurement date to expected future benefit cash flows. During the three and six months ended June 30, 2023, the Company recognized a settlement gain of $0.4 million, and as a result of an interim actuarial valuation due to the settlement of one of the Company's pension plans, the Company recognized a remeasurement gain of $1.3 million . During the three and six months ended June 30, 2024, the Company made no contributions to the qualified plans and contributions and associated payments of $0.1 million and $0.3 million to the non-qualified plans. During the three and six months ended June 30, 2023, the Company made no cash contributions to the qualified plans, and contributions and associated payments of $0.1 million and $0.3 million to the non-qualified plans. For the fiscal year 2024, the Company does not expect to make a contribution to the qualified plans and expects to contribute approximately $0.5 million to the non-qualified plans.

Stock-Based Compensation and St

Stock-Based Compensation and Stockholders' Equity	6 Months Ended
Stock-Based Compensation and Stockholders' Equity	Jun. 30, 2024
Equity [Abstract]
Stock-Based Compensation and Stockholders' Equity	Stock-Based Compensation and Stockholders' Equity Stock-Based Compensation Expense The following table sets forth stock-based compensation expense recognized by the Company in the following line items in the Company's consolidated statements of operations and comprehensive income during the periods presented: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of services $ 174 $ 173 $ 347 $ 322 Sales and marketing 2,313 2,954 3,340 5,612 General and administrative 3,866 2,671 7,955 5,257 Stock-based compensation expense $ 6,353 $ 5,798 $ 11,642 $ 11,191 The following table sets forth stock-based compensation expense by award type during the periods presented: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 RSUs $ 3,187 $ 2,409 $ 6,584 $ 4,820 PSUs 2,609 2,352 4,105 4,615 Stock options 143 413 290 841 ESPP 414 624 663 915 Stock-based compensation expense $ 6,353 $ 5,798 $ 11,642 $ 11,191 Restricted Stock Units The following table sets forth the Company's restricted stock unit (“ RSU ”) activity during the six months ended June 30, 2024: Number of Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2023 992,464 $ 21.52 Granted 891,598 18.42 Vested (430,520) 22.13 Forfeited (222,999) 19.32 Nonvested balance as of June 30, 2024 1,230,543 $ 19.46 The Company grants RSUs to the Company's employees and non-employee directors under the Company’s 2020 Incentive Award Plan (the “ 2020 Plan ”). Pursuant to the RSU award agreements, each RSU entitles the recipient to one share of the Company’s common stock, subject to time-based vesting conditions set forth in individual agreements. The fair value of each RSU grant is determined based upon the market closing price of the Company’s common stock on the date of grant. The RSUs vest over the requisite service period, which ranges between one year and three years from the date of grant, subject to the continued employment of the employees and services of the non-employee board members. As of June 30, 2024, the unrecognized stock-based compensation expense related to the unvested portion of the Company's RSU awards was approximately $19.1 million and is expected to be recognized over a weighted-average period of 1.98 years. During the six months ended June 30, 2024, the Company issued an aggregate of 430,520 shares of common stock to employees and non-employee directors upon the vesting of RSUs previously granted under the 2020 Plan. Performance-Based Restricted Stock Units The following table sets forth the Company's performance-based restricted stock unit (“ PSU ”) activity during the six months ended June 30, 2024: Number of Performance-Based Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2023 1,130,779 $ 23.68 Granted 693,936 18.89 Vested (122,241) 26.33 Forfeited (352,116) 22.31 Nonvested balance as of June 30, 2024 1,350,358 $ 21.85 The Company also grants PSUs to employees under the Company’s 2020 Plan. Pursuant to the PSU Award Agreement, each PSU entitles the recipient to up to 1.5 shares of the Company’s common stock, subject to certain performance measures set forth in individual agreements. The PSUs will vest, if at all, following the achievement of certain performance measures over a three year performance period, relative to certain performance and market conditions. The grant date fair value of PSUs that vest relative to a performance condition is measured based upon the market closing price of the Company’s common stock on the date of grant and expensed on a straight-line basis when it becomes probable that the performance conditions will be satisfied, net of forfeitures, over the service period of the awards, which is generally the vesting term of three years. The grant date fair value of PSUs that vest relative to a market condition is measured using a Monte Carlo simulation model and expensed on a straight-line basis, net of forfeitures, over the service period of the awards, which is generally the vesting term of three years. As of June 30, 2024, the nonvested balance of PSUs that vest based on performance and market conditions are 729,894 and 1,094,821 shares, respectively. As of June 30, 2024, the unrecognized stock-based compensation expense related to the unvested portion of the Company's PSU awards was approximately $15.1 million and is expected to be recognized over a weighted-average period of 1.64 years. Stock Options As of June 30, 2024, the unrecognized stock-based compensation expense related to the unvested portion of the Company's stock options was approximately $0.2 million , and is expected to be recognized over a weighted average period of 0.29 years. As of June 30, 2024, there were 83,334 stock options expected to vest with a weighted-average grant-date fair value of $13.82. During the six months ended June 30, 2024, the Company issued an aggregate of 566,811 shares of common stock to employees upon the exercise of options previously granted under the 2016 Stock Incentive Plan and 2020 Plan at exercise prices ranging from $3.68 to $13.82 per share. During the six months ended June 30, 2023, the Company issued an aggregate of 156,592 shares of common stock to employees upon the exercise of options previously granted under the 2016 Stock Incentive Plan and 2020 Plan at exercise prices ranging from $3.68 to $13.82 per share. Employee Stock Purchase Plan During the six months ended June 30, 2024, the Company issued 149,983 shares through the Employee Stock Purchase Plan (“ ESPP” ). During the six months ended June 30, 2023, the Company issued 189,837 shares through the ESPP. Share Repurchase Program On April 30, 2024, the Board authorized a new share repurchase program (the “ Share Repurchase Program ”), under which the Company may repurchase up to $40 million in shares of common stock through April 30, 2029. The repurchase program will be subject to market conditions, the periodic capital needs of the Company’s operating activities, and the continued satisfaction of all covenants under the Company’s New Term Loan and ABL Credit Agreement. The Share Repurchase Program does not obligate the Company to repurchase shares and may be suspended, terminated, or modified at any time. On June 20, 2024, the Company repurchased approximately 26,495 shares of its outstanding common stock. The total purchase price of this transaction was approximately $0.5 million. The acquired shares were recorded as Treasury stock upon repurchase.

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following table sets forth the calculation of the Company's basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2024 2023 2024 2023 Basic net income per share: Net income $ 5,548 $ 15,978 $ 13,972 $ 25,292 Weighted-average common shares outstanding during the period 36,004,324 34,575,338 35,818,549 34,625,561 Basic net income per share $ 0.15 $ 0.46 $ 0.39 $ 0.73 Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2024 2023 2024 2023 Diluted net income per share: Net income $ 5,548 $ 15,978 $ 13,972 $ 25,292 Weighted-average basic shares outstanding during the period 36,004,324 34,575,338 35,818,549 34,625,561 Plus: Common stock equivalents associated with stock-based compensation 1,627,501 2,287,957 2,213,583 2,331,372 Weighted-average diluted shares outstanding 37,631,825 36,863,295 38,032,132 36,956,933 Diluted net income per share $ 0.15 $ 0.43 $ 0.37 $ 0.68 The computation of weighted-average diluted shares outstanding excluded the following share amounts as their effect would have been anti-dilutive for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Outstanding RSUs 52,683 339,173 192,347 328,207 Outstanding PSUs 124,811 284,025 221,326 284,025 Outstanding ESPP shares 124,502 105,559 167,265 76,846 Outstanding Stock warrants — 5,231,572 — 5,234,493

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate (“ ETR ”) was 54.4% and 46.2% for the three and six months ended June 30, 2024, respectively, and (27.3%) and 4.1% for the three and six months ended June 30, 2023, respectively. The Company's ETR differs from the 21.0% U.S. Federal statutory rate primarily due to permanent differences, including state taxes, non-deductible executive compensation, non-U.S. taxing jurisdictions, tax credits, change in valuation allowance due to expiring net operating losses, and the discrete impact of the debt refinancing discussed in Note 8, Debt Obligations. As of June 30, 2024 and December 31, 2023, the amount of unrecognized tax benefits was $18.1 million and $17.1 million, respectively, excluding interest and penalties, that if recognized, would impact the effective tax rate. As of June 30, 2024 and December 31, 2023, the Company had $10.1 million and $9.0 million, respectively, recorded for interest on the Company's consolidated balance sheets. The Company engages in continuous discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. The Company expects to complete resolution of certain tax years with various tax authorities within the next 12 months. The Company believes it is reasonably possible that its existing gross unrecognized tax benefits may be reduced by up to $15.6 million within the next 12 months, affecting the Company’s ETR if realized. See Note 13, Contingent Liabilities. Risks Related to Taxes and Tariffs The international tax environment remains highly uncertain and increasingly complex as evidenced by initiatives put forth by the Organization for Economic Co-operation and Development (“ OECD ”), which includes the introduction of a global minimum tax at a rate of 15% under the OECD’s Pillar Two rules. We continue to monitor these proposals closely and, if enacted by various countries in which we do business, they may increase our taxes in the applicable jurisdictions or cause us to change the way we operate our business and result in increased taxation of our international earnings. As of the six months ended June 30, 2024, Pillar Two legislation enacted by countries in which Thryv operates is not expected to materially impact the Company’s taxes in 2024.

Contingent Liabilities

Contingent Liabilities	6 Months Ended
Contingent Liabilities	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	Contingent Liabilities Litigation The Company is subject to various lawsuits and other claims in the normal course of business. In addition, from time to time, the Company receives communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdictions in which the Company operates. The Company establishes reserves for the estimated losses on specific contingent liabilities for regulatory and legal actions where the Company deems a loss to be probable and the amount of the loss can be reasonably estimated. In other instances, losses are considered probable, but the Company is not able to make a reasonable estimate of the liability because of the uncertainties related to the outcome or the amount or range of potential loss. For these matters, disclosure is made when material, but no amount is reserved. The Company does not expect that the ultimate resolution of pending regulatory and legal matters in future periods will have a material adverse effect on the Company's consolidated statements of operations and comprehensive income, balance sheets or cash flows. Section 199 and Research and Development Tax Case Section 199 of the Internal Revenue Code of 1986, as amended (the “Tax Code” ), provides for deductions for manufacturing performed in the U.S. The Internal Revenue Service (“ IRS ”) has taken the position that directory providers are not entitled to take advantage of the deductions because printing vendors are already taking deductions and only one taxpayer can claim the deduction. The Tax Code also grants tax credits related to research and development expenditures. The IRS also takes the position that the expenditures have not been sufficiently documented to be eligible for the tax credit. The Company disagrees with these positions. The IRS has challenged the Company's positions. With respect to the tax years 2012 through June 2015 for the YP LLC partnership, the IRS sent 90-day notices to DexYP on August 29, 2018. In response, the Company filed three petitions (in the names of various related partners) in U.S. Tax Court, and the IRS filed answers to those petitions. The three cases were consolidated by the court and were referred back to IRS Administrative Appeals for settlement negotiations, during which time the litigation was suspended. Several appeals c onferences for YP have been held. The Company and the IRS also reached an agreement regarding additional research and development tax credits for the tax years at issue whereby the IRS will allow more tax credits than were originally claimed on the tax returns. With respect to the tax year from July to December 2015 for the Print Media LLC partnership, the Company has been unsuccessful in its attempt to negotiate a settlement with IRS Appeals, and the IRS issued a 90-day notice to the Company. The Company filed a petition in the U.S. Tax Court to challenge the IRS denial. As of June 30, 2024 and December 31, 2023, the Company has reserved $27.2 million and $26.1 million, respectively, in connection with the Section 199 disallowance and less than $0.1 million related to the research and development tax credit disallowance. See Note 4, Fair Value Measurements, for a discussion of the Company's former indemnification asset related to these matters . On May 22, 2023, the Company received a draft Appeals Settlement document (“ Draft Settlement ”) from the IRS relating to the IRC Section 199 tax case. Once finalized, the Draft Settlement will result in a decrease in the unrecognized tax benefit recorded for this tax position. During the year ended December 31, 2023 , the Company recorded a measurement adjustment to the uncertain tax position liability to account for the new information received from the Draft Settlement. The Company is in continued discussion with the IRS regarding the finalization of this case and final tax impact that will result. As of June 30, 2024, the final settlement has not been issued by the IRS. Accordingly, the Company does not consider the matter effectively settled.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	6 Months Ended
Changes in Accumulated Other Comprehensive Loss	Jun. 30, 2024
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	Changes in Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders' equity, for the six months ended June 30, 2024 and 2023: Accumulated Other Comprehensive Loss (in thousands) 2024 2023 Beginning balance at January 1, $ (15,191) $ (16,261) Foreign currency translation adjustment, net of tax expense of $0.1 million and $1.1 million, respectively (198) (2,490) Ending balance at June 30, $ (15,389) $ (18,751)

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information During the first quarter of 2024, the Company changed the internal reporting provided to the CODM. As a result, the Company reevaluated its segment reporting, as discussed in Note 1, Description of Business and Summary of Significant Accounting Policies . The Company determined that the Company manages its operations using two operating segments, which are also its reportable segments: (1) Thryv Marketing Services and (2) Thryv SaaS. Comparative prior periods have been recast to reflect the current presentation. The Company does not allocate assets to its segments and the CODM does not evaluate performance or allocate resources based on segment asset data, and therefore, such information is not presented. The following tables summarize the operating results of the Company's reportable segments: Three Months Ended June 30, 2024 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 146,290 $ 77,794 $ 224,084 Segment Gross Profit 96,299 52,289 148,588 Segment Adjusted EBITDA 49,149 10,165 59,314 Three Months Ended June 30, 2023 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 188,963 $ 62,458 $ 251,421 Segment Gross Profit 120,875 39,210 160,085 Segment Adjusted EBITDA 63,209 6,230 69,439 Six Months Ended June 30, 2024 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 305,592 $ 152,116 $ 457,708 Segment Gross Profit 200,845 101,384 302,229 Segment Adjusted EBITDA 99,828 13,600 113,428 Six Months Ended June 30, 2023 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 374,589 $ 122,387 $ 496,976 Segment Gross Profit 238,529 76,364 314,893 Segment Adjusted EBITDA 121,882 6,026 127,908 A reconciliation of the Company’s Income before income tax expense to total Segment Adjusted EBITDA is as follows : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Income before income tax expense $ 12,166 $ 12,550 $ 25,987 $ 26,360 Interest expense 12,175 16,292 25,534 32,780 Depreciation and amortization expense 14,072 15,667 28,625 31,098 Stock-based compensation expense 6,353 5,798 11,642 11,191 Restructuring and integration expenses 7,553 3,921 12,818 9,261 Transaction costs (1) — — — 373 Other components of net periodic pension cost 1,581 1,865 3,162 1,986 Loss on early extinguishment of debt 6,638 — 6,638 — Non-cash loss from remeasurement of indemnification asset — 11,490 — 10,734 Other (1,224) 1,856 (978) 4,125 Total Segment Adjusted EBITDA $ 59,314 $ 69,439 $ 113,428 $ 127,908 (1) Consists of expenses related to the Yellow Acquisition and other transaction cost s. The following table sets forth the Company's disaggregation of Revenue based on services for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Thryv Marketing Services Print $ 82,631 $ 86,494 $ 167,267 $ 163,860 Digital 63,659 102,469 138,325 210,729 Total Thryv Marketing Services 146,290 188,963 305,592 374,589 Thryv SaaS 77,794 62,458 152,116 122,387 Revenue $ 224,084 $ 251,421 $ 457,708 $ 496,976 Revenue by geography is based on the location of the customer. The following table sets forth the Company's disaggregation of Revenue based on geographic region for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 United States $ 178,129 $ 197,834 $ 374,569 $ 403,261 International 45,955 53,587 83,139 93,715 Revenue $ 224,084 $ 251,421 $ 457,708 $ 496,976 Thryv Australia's revenue attributed to the International region was approximately 16.9% and 18.9% of total revenue for the three months ended June 30, 2024 and 2023, respectively, and 15.9% and 17.6% for the six months ended June 30, 2024 and 2023, respectively. No other individual country from the International region contributed more than 10% of total revenue for the three and six months ended June 30, 2024 and 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 5,548	$ 15,978	$ 13,972	$ 25,292

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company prepares its financial statements in accordance with generally accepted accounting principles in the United States (“ U.S. GAAP ”). The consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “ SEC ”) regarding interim financial reporting. Accordingly, certain information and disclosures normally included in the complete financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. The consolidated financial statements include the financial statements of Thryv Holdings, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, consisting of only normal recurring items and accruals, necessary for the fair statement of the financial position, results of operations and cash flows of the Company for the periods presented. The consolidated financial statements as of and for the three and six months ended June 30, 2024 and 2023 have been prepared on the same basis as the audited annual financial statements . The consolidated balance sheet as of December 31, 2023 was derived from the audited annual financial statements. The consolidated results for interim periods are not necessarily indicative of results for the full year and should be read in conjunction with the Company’s audited financial statements and related footnotes for the year ended December 31, 2023.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions about future events that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. The results of those estimates form the basis for making judgments about the carrying values of certain assets and liabilities. Examples of reported amounts that rely on significant estimates include revenue recognition, allowance for credit losses, assets acquired and liabilities assumed in business combinations, capitalized costs to obtain a contract, certain amounts relating to the accounting for income taxes, including valuation allowance, indemnification asset, stock-based compensation expense, operating lease right-of-use assets and operating lease liabilities, accrued service credits, and pension obligations. Significant estimates are also used in determining the recoverability and fair value of fixed assets and capitalized software, operating lease right-of-use assets, goodwill and intangible assets.
Restricted Cash	Restricted Cash The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Company's consolidated balance sheets to the amount shown in the Company's consolidated statements of cash flows for the six months ended June 30, 2024 and 2023: (in thousands) June 30, 2024 June 30, 2023 Cash and cash equivalents $ 15,519 $ 15,245 Restricted cash, included in Other current assets 5,479 2,350 Total cash, cash equivalents and restricted cash $ 20,998 $ 17,595
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“ FASB ”) issued ASU No. 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ” (“ ASU 2023-07 ”). ASU 2023-07 requires additional disclosures, including more detailed information about segment expenses about a public entity’s reportable segments on an annual and interim basis. The new segment disclosures are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Management will review the extent of new disclosures necessary in the coming quarters, prior to implementation in the Company's 2024 Annual Report on Form 10-K. Other than additional disclosures, the Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures ” (“ ASU 2023-09 ”). ASU 2023-09 requires additional disclosures primarily related to the rate reconciliation and income taxes paid information. The new income tax disclosures are effective for fiscal years beginning after December 15, 2024. Management will review the extent of new disclosures necessary in the coming years, prior to implementation in the Company's 2025 Annual Report on Form 10-K. Other than additional disclosures, the Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Company's consolidated balance sheets to the amount shown in the Company's consolidated statements of cash flows for the six months ended June 30, 2024 and 2023: (in thousands) June 30, 2024 June 30, 2023 Cash and cash equivalents $ 15,519 $ 15,245 Restricted cash, included in Other current assets 5,479 2,350 Total cash, cash equivalents and restricted cash $ 20,998 $ 17,595

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the assets acquired and liabilities assumed at the Yellow Acquisition Date: (in thousands) Current assets $ 2,438 Fixed and intangible assets 5,565 Other assets 457 Current liabilities (3,533) Other liabilities (1,159) Goodwill 5,129 Fair value allocated to net assets acquired $ 8,897

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value and Carrying Value of Debt Instruments	The following table sets forth the carrying amount and fair value of the New Term Loan and Prior Term Loan: June 30, 2024 December 31, 2023 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value New Term Loan, net $ 324,092 $ 329,763 $ — $ — Prior Term Loan, net — — 300,052 300,052

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table sets forth the changes in the carrying amount of the Company's goodwill for the six months ended June 30, 2024 and the year ended December 31, 2023 . (in thousands) Thryv Marketing Services Thryv SaaS Total Balance as of December 31, 2022 $ 347,120 $ 218,884 $ 566,004 Yellow Acquisition (1) 5,129 — 5,129 Impairments (268,800) — (268,800) Effects of foreign currency translation 67 — 67 Balance as of December 31, 2023 $ 83,516 $ 218,884 $ 302,400 Effects of foreign currency translation (1,405) — (1,405) Balance as of June 30, 2024 $ 82,111 $ 218,884 $ 300,995 (1)
Schedule of Finite-lived Intangible Assets	The following tables set forth the details of the Company's intangible assets as of June 30, 2024 and December 31, 2023 : As of June 30, 2024 (in thousands) Gross Accumulated Net Weighted Client relationships $ 797,854 $ (792,836) $ 5,018 1.3 Trademarks and domain names 223,916 (222,487) 1,429 2.5 Covenants not to compete 4,921 (4,728) 193 1.0 Total intangible assets $ 1,026,691 $ (1,020,051) $ 6,640 1.5 As of December 31, 2023 (in thousands) Gross Accumulated Net Weighted Client relationships $ 799,882 $ (787,736) $ 12,146 1.4 Trademarks and domain names 224,423 (220,886) 3,537 1.9 Covenants not to compete 10,446 (7,341) 3,105 0.8 Total intangible assets $ 1,034,751 $ (1,015,963) $ 18,788 1.4
Schedule of Estimated Aggregate Future Amortization Expense	Estimated aggregate future amortization expense by fiscal year for the Company's intangible assets is as follows: (in thousands) Estimated Future 2024 (remaining) $ 4,195 2025 1,867 2026 403 2027 134 2028 41 Total $ 6,640

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
Allowance for Credit Losses (Tables)	Jun. 30, 2024
Credit Loss [Abstract]
Schedule of Allowance for Credit Losses	The following table sets forth the Company's allowance for credit losses as of June 30, 2024 and 2023: (in thousands) 2024 2023 Balance as of January 1 $ 14,961 $ 14,799 Additions (1) 8,990 7,262 Deductions (2) (5,872) (7,634) Balance as of June 30 (3) $ 18,079 $ 14,427 (1) For the six months ended June 30, 2024 and 2023, the Company recorded a provision for credit losses of $9.0 million and $7.3 million, respectively, which is included in General and administrative expense in the Company's consolidated statements of operations and comprehensive income. For the three months ended June 30, 2024 and 2023, the Company recorded a provision for credit losses of $3.0 million a nd $3.4 million, respectively, which is included in General and administrative expense in the Company's consolidated statements of operations and comprehensive income. (2) For the six months ended June 30, 2024 and 2023, the deductions represent amounts written off as uncollectible, net of recoveries. (3) As of June 30, 2024, $18.0 million of the allowance is attributable to Accounts receivable and less than $0.1 million is attributable to Contract assets.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
Accrued Liabilities (Tables)	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The following table sets forth additional financial information related to the Company's accrued liabilities as of June 30, 2024 and December 31, 2023: (in thousands) June 30, 2024 December 31, 2023 Accrued salaries and related expenses $ 45,255 $ 57,357 Accrued expenses 35,575 37,889 Accrued taxes 26,966 8,832 Accrued service credits 2,397 1,825 Accrued liabilities $ 110,193 $ 105,903

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
Debt Obligations (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Debt Obligations	The following table sets forth the Company's outstanding debt obligations as of June 30, 2024 and December 31, 2023: (in thousands) Maturity Interest Rate June 30, 2024 December 31, 2023 New Term Loan May 1, 2029 SOFR + 6.75% $ 336,375 $ — Prior Term Loan March 1, 2026 SOFR + 8.5% — 309,368 New ABL Facility May 1, 2028 SOFR + 2.50% - 2.75% 18,000 — Prior ABL Facility March 1, 2026 SOFR + 3.0% — 48,845 Unamortized original issue discount and debt issuance costs (12,283) (9,316) Total debt obligations $ 342,092 $ 348,897 Current portion of New Term Loan/Prior Term Loan (52,500) (70,000) Total long-term debt obligations $ 289,592 $ 278,897

Pensions (Tables)

Pensions (Tables)	6 Months Ended
Pensions (Tables)	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Pension Cost	The following table details the other components of net periodic pension cost for the Company's pension plans: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Interest cost $ 4,824 $ 7,406 $ 9,648 $ 10,910 Expected return on assets (3,243) (3,778) (6,486) (7,161) Settlement (gain) — (420) — (420) Remeasurement (gain) — (1,343) — (1,343) Net periodic pension cost $ 1,581 $ 1,865 $ 3,162 $ 1,986

Stock-Based Compensation and _2

Stock-Based Compensation and Stockholders' Equity (Tables)	6 Months Ended
Stock-Based Compensation and Stockholders' Equity (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Share-based Payment Arrangement, Cost by Plan	The following table sets forth stock-based compensation expense recognized by the Company in the following line items in the Company's consolidated statements of operations and comprehensive income during the periods presented: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of services $ 174 $ 173 $ 347 $ 322 Sales and marketing 2,313 2,954 3,340 5,612 General and administrative 3,866 2,671 7,955 5,257 Stock-based compensation expense $ 6,353 $ 5,798 $ 11,642 $ 11,191
Schedule of Stock-based Compensation Expense	The following table sets forth stock-based compensation expense by award type during the periods presented: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 RSUs $ 3,187 $ 2,409 $ 6,584 $ 4,820 PSUs 2,609 2,352 4,105 4,615 Stock options 143 413 290 841 ESPP 414 624 663 915 Stock-based compensation expense $ 6,353 $ 5,798 $ 11,642 $ 11,191
Schedule of Nonvested Restricted Stock Shares Activity	The following table sets forth the Company's restricted stock unit (“ RSU ”) activity during the six months ended June 30, 2024: Number of Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2023 992,464 $ 21.52 Granted 891,598 18.42 Vested (430,520) 22.13 Forfeited (222,999) 19.32 Nonvested balance as of June 30, 2024 1,230,543 $ 19.46
Schedule of Nonvested Performance-Based Units Activity	The following table sets forth the Company's performance-based restricted stock unit (“ PSU ”) activity during the six months ended June 30, 2024: Number of Performance-Based Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2023 1,130,779 $ 23.68 Granted 693,936 18.89 Vested (122,241) 26.33 Forfeited (352,116) 22.31 Nonvested balance as of June 30, 2024 1,350,358 $ 21.85

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the calculation of the Company's basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2024 2023 2024 2023 Basic net income per share: Net income $ 5,548 $ 15,978 $ 13,972 $ 25,292 Weighted-average common shares outstanding during the period 36,004,324 34,575,338 35,818,549 34,625,561 Basic net income per share $ 0.15 $ 0.46 $ 0.39 $ 0.73 Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2024 2023 2024 2023 Diluted net income per share: Net income $ 5,548 $ 15,978 $ 13,972 $ 25,292 Weighted-average basic shares outstanding during the period 36,004,324 34,575,338 35,818,549 34,625,561 Plus: Common stock equivalents associated with stock-based compensation 1,627,501 2,287,957 2,213,583 2,331,372 Weighted-average diluted shares outstanding 37,631,825 36,863,295 38,032,132 36,956,933 Diluted net income per share $ 0.15 $ 0.43 $ 0.37 $ 0.68
Schedule of Computation of Diluted Shares Outstanding	The computation of weighted-average diluted shares outstanding excluded the following share amounts as their effect would have been anti-dilutive for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Outstanding RSUs 52,683 339,173 192,347 328,207 Outstanding PSUs 124,811 284,025 221,326 284,025 Outstanding ESPP shares 124,502 105,559 167,265 76,846 Outstanding Stock warrants — 5,231,572 — 5,234,493

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Changes in Accumulated Other Comprehensive Loss (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders' equity, for the six months ended June 30, 2024 and 2023: Accumulated Other Comprehensive Loss (in thousands) 2024 2023 Beginning balance at January 1, $ (15,191) $ (16,261) Foreign currency translation adjustment, net of tax expense of $0.1 million and $1.1 million, respectively (198) (2,490) Ending balance at June 30, $ (15,389) $ (18,751)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize the operating results of the Company's reportable segments: Three Months Ended June 30, 2024 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 146,290 $ 77,794 $ 224,084 Segment Gross Profit 96,299 52,289 148,588 Segment Adjusted EBITDA 49,149 10,165 59,314 Three Months Ended June 30, 2023 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 188,963 $ 62,458 $ 251,421 Segment Gross Profit 120,875 39,210 160,085 Segment Adjusted EBITDA 63,209 6,230 69,439 Six Months Ended June 30, 2024 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 305,592 $ 152,116 $ 457,708 Segment Gross Profit 200,845 101,384 302,229 Segment Adjusted EBITDA 99,828 13,600 113,428 Six Months Ended June 30, 2023 (in thousands) Thryv Marketing Services Thryv SaaS Total Revenue $ 374,589 $ 122,387 $ 496,976 Segment Gross Profit 238,529 76,364 314,893 Segment Adjusted EBITDA 121,882 6,026 127,908
Schedule of Reconciliation of Earnings Before Interest, Tax, Depreciation, and Amortization from Segments to Consolidated	A reconciliation of the Company’s Income before income tax expense to total Segment Adjusted EBITDA is as follows : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Income before income tax expense $ 12,166 $ 12,550 $ 25,987 $ 26,360 Interest expense 12,175 16,292 25,534 32,780 Depreciation and amortization expense 14,072 15,667 28,625 31,098 Stock-based compensation expense 6,353 5,798 11,642 11,191 Restructuring and integration expenses 7,553 3,921 12,818 9,261 Transaction costs (1) — — — 373 Other components of net periodic pension cost 1,581 1,865 3,162 1,986 Loss on early extinguishment of debt 6,638 — 6,638 — Non-cash loss from remeasurement of indemnification asset — 11,490 — 10,734 Other (1,224) 1,856 (978) 4,125 Total Segment Adjusted EBITDA $ 59,314 $ 69,439 $ 113,428 $ 127,908 (1) Consists of expenses related to the Yellow Acquisition and other transaction cost s.
Schedule of Disaggregation of Revenue	The following table sets forth the Company's disaggregation of Revenue based on services for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Thryv Marketing Services Print $ 82,631 $ 86,494 $ 167,267 $ 163,860 Digital 63,659 102,469 138,325 210,729 Total Thryv Marketing Services 146,290 188,963 305,592 374,589 Thryv SaaS 77,794 62,458 152,116 122,387 Revenue $ 224,084 $ 251,421 $ 457,708 $ 496,976 Revenue by geography is based on the location of the customer. The following table sets forth the Company's disaggregation of Revenue based on geographic region for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 United States $ 178,129 $ 197,834 $ 374,569 $ 403,261 International 45,955 53,587 83,139 93,715 Revenue $ 224,084 $ 251,421 $ 457,708 $ 496,976

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 15,519	$ 18,216	$ 15,245
Restricted cash, included in Other current assets	5,479		2,350
Total cash, cash equivalents and restricted cash	$ 20,998	$ 20,530	$ 17,595	$ 18,180

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Apr. 03, 2023	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 300,995	$ 302,400	$ 566,004
Yellow New Zealand
Business Acquisition [Line Items]
Acquisition of a business, net of cash acquired	$ 8,897
Cash acquired from acquisition	1,700
Current assets	2,438
Fixed and intangible assets	5,565
Goodwill	5,129
Accounts payable assumed in business acquisition	$ 4,700

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Apr. 03, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 300,995	$ 302,400		$ 566,004
Yellow New Zealand
Business Acquisition [Line Items]
Current assets			$ 2,438
Fixed and intangible assets			5,565
Other assets			457
Current liabilities			(3,533)
Other liabilities			(1,159)
Goodwill			5,129
Fair value allocated to net assets acquired			$ 8,897

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue Recognition (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized	$ 8.3	$ 9.2	$ 36.8	$ 39
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligations period (in months)	12 months		12 months

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 22, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Settlement of indemnification asset			$ 15,760		$ 15,760
Gain (loss) on remeasurement of indemnification asset		$ 0	(11,490)	$ 0	(10,734)
Treasury Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Settlement of indemnification asset	$ 15,800		$ 15,760		$ 15,760
Settlement of indemnification asset (in shares)	613,954		613,954		613,954
Number of shares expected to be retain by the seller (in shares)	1,190,761
YP Acquisition
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Shares held in escrow (in shares)						1,804,715

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value and Carrying Value of Debt Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
New Term Loan \| Carrying Amount
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value	$ 324,092	$ 0
New Term Loan \| Fair Value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value	329,763	0
Term Loan \| Carrying Amount
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value	0	300,052
Term Loan \| Fair Value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value	$ 0	$ 300,052

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill Rollforward (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Beginning balance	$ 302,400	$ 566,004
Yellow Acquisition		5,129
Impairments		(268,800)
Effects of foreign currency translation	(1,405)	67
Ending balance	300,995	302,400
Thryv Marketing Services
Goodwill [Roll Forward]
Beginning balance	83,516	347,120
Yellow Acquisition		5,129
Impairments		(268,800)
Effects of foreign currency translation	(1,405)	67
Ending balance	82,111	83,516
Thryv SaaS
Goodwill [Roll Forward]
Beginning balance	218,884	218,884
Yellow Acquisition		0
Impairments		0
Effects of foreign currency translation	0	0
Ending balance	$ 218,884	$ 218,884

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 reporting_unit	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 reporting_unit
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reporting units \| reporting_unit		2				4
Amortization expense \| $	$ 5.1		$ 6.5	$ 10.5	$ 12.7

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,026,691	$ 1,034,751
Accumulated Amortization	(1,020,051)	(1,015,963)
Total	$ 6,640	$ 18,788
Weighted average remaining amortization period in years (in years)	1 year 6 months	1 year 4 months 24 days
Client relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 797,854	$ 799,882
Accumulated Amortization	(792,836)	(787,736)
Total	$ 5,018	$ 12,146
Weighted average remaining amortization period in years (in years)	1 year 3 months 18 days	1 year 4 months 24 days
Trademarks and domain names
Finite-Lived Intangible Assets [Line Items]
Gross	$ 223,916	$ 224,423
Accumulated Amortization	(222,487)	(220,886)
Total	$ 1,429	$ 3,537
Weighted average remaining amortization period in years (in years)	2 years 6 months	1 year 10 months 24 days
Covenants not to compete
Finite-Lived Intangible Assets [Line Items]
Gross	$ 4,921	$ 10,446
Accumulated Amortization	(4,728)	(7,341)
Total	$ 193	$ 3,105
Weighted average remaining amortization period in years (in years)	1 year	9 months 18 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Aggregate Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024 (remaining)	$ 4,195
2025	1,867
2026	403
2027	134
2028	41
Total	$ 6,640	$ 18,788

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			$ 14,961	$ 14,799
Additions	$ 3,000	$ 3,400	8,990	7,262
Deductions			(5,872)	(7,634)
Ending balance	18,079	14,427	18,079	14,427
Accounts receivable, allowance for credit loss	18,000	14,400	18,000	14,400
Contract with customer, asset, allowance for credit loss (less than)	$ 100	$ 100	$ 100	$ 100

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued salaries and related expenses	$ 45,255	$ 57,357
Accrued expenses	35,575	37,889
Accrued taxes	26,966	8,832
Accrued service credits	2,397	1,825
Accrued liabilities	$ 110,193	$ 105,903

Debt Obligations - Schedule of

Debt Obligations - Schedule of Outstanding Debt Obligations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Unamortized original issue discount and debt issuance costs	$ (12,283)	$ (9,316)
Total debt obligations	342,092	348,897
Current portion of New Term Loan/Prior Term Loan	(52,500)	(70,000)
Total long-term debt obligations	$ 289,592	278,897
New Term Loan
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR)
Debt obligations	$ 336,375	0
New Term Loan \| Variable Rate Component One
Debt Instrument [Line Items]
Interest Rate	6.75%
Prior Term Loan
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR)
Debt obligations	$ 0	309,368
Prior Term Loan \| Variable Rate Component One
Debt Instrument [Line Items]
Interest Rate	8.50%
ABL Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR)
Debt obligations	$ 18,000	0
ABL Facility \| Variable Rate Component One \| Revolving Credit Facility \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Interest Rate	2.50%
ABL Facility \| Variable Rate Component One \| Revolving Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Interest Rate	2.75%
Prior ABL Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR)
Debt obligations	$ 0	$ 48,845
Prior ABL Facility \| Variable Rate Component One \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Interest Rate	3%

Debt Obligations - Narrative (D

Debt Obligations - Narrative (Details)		6 Months Ended
Debt Obligations - Narrative (Details)	May 01, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Interest payable, current		$ 200,000	$ 1,100,000
Related Party \| Minimum
Debt Instrument [Line Items]
Debt instrument, percent ownership		5%
New Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 350,000,000
Debt instrument, amortization payment period	2 years
Proceeds from issuance of debt	$ 337,600,000
Term loan, original issue discount	6,300,000
Debt issuance costs	6,100,000
Payments of financing costs	6,100,000
Unamortized debt issuance expense	4,100,000
Debt instrument, covenant, leverage ratio to EBITDA, maximum		3
New Term Loan \| General and administrative
Debt Instrument [Line Items]
Payments of financing costs	2,000,000
New Term Loan \| Payment Terms Tranche One
Debt Instrument [Line Items]
Debt instrument, mandatory quarterly amortization payment	52,500,000
New Term Loan \| Payment Terms Tranche Two
Debt Instrument [Line Items]
Debt instrument, mandatory quarterly amortization payment	$ 35,000,000
New Term Loan \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	6.75%
New Term Loan \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	5.75%
New Term Loan \| Related Party
Debt Instrument [Line Items]
Debt instrument, percent ownership	31.80%	31.80%
Term Loan
Debt Instrument [Line Items]
Debt issuance costs	$ 600,000
Repayment of debt	300,000,000
Interest expense	3,800,000
Unamortized debt issuance expense	2,400,000
Term loan, debt issuance costs	7,800,000
Write off of deferred debt issuance costs	5,400,000
ABL Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt issuance costs	1,200,000
Maximum borrowing capacity	$ 85,000,000
Line of credit facility, unused capacity, commitment fee (as percent)	0.375%
Debt issuance costs, line of credit	$ 1,200,000
Debt issuance costs, line of credit, balance		$ 1,200,000	$ 1,400,000
Borrowing base capacity		64,800,000
Current borrowing capacity		$ 54,200,000
ABL Facility \| Secured Overnight Financing Rate (SOFR) \| Revolving Credit Facility \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	2.50%
ABL Facility \| Secured Overnight Financing Rate (SOFR) \| Revolving Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	2.75%
ABL Facility \| Base Rate \| Revolving Credit Facility \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	1.50%
ABL Facility \| Base Rate \| Revolving Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	1.75%
Prior ABL Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, fixed charge coverage ratio		1
Debt instrument, covenant, remaining borrowing capacity required, minimum		$ 8,500,000

Pensions - Schedule of Componen

Pensions - Schedule of Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Interest cost	$ 4,824	$ 7,406	$ 9,648	$ 10,910
Expected return on assets	(3,243)	(3,778)	(6,486)	(7,161)
Settlement (gain)	0	(420)	0	(420)
Remeasurement (gain)	0	(1,343)	0	(1,343)
Net periodic pension cost	$ 1,581	$ 1,865	$ 3,162	$ 1,986

Pensions - Narrative (Details)

Pensions - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Pensions - Narrative (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlement gain	$ 0	$ 420,000	$ 0	$ 420,000
Remeasurement gain	0	1,343,000	0	1,343,000
Qualified Plan \| Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution costs	0	0	0	0
Nonqualified Plan \| Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution costs	100,000	$ 100,000	300,000	$ 300,000
Expected future employer contribution, current fiscal year	$ 500,000		$ 500,000

Stock-Based Compensation and _3

Stock-Based Compensation and Stockholders' Equity - Schedule of Compensation Expense Allocation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 6,353	$ 5,798	$ 11,642	$ 11,191
Cost of services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	174	173	347	322
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,313	2,954	3,340	5,612
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,866	$ 2,671	$ 7,955	$ 5,257

Stock-Based Compensation and _4

Stock-Based Compensation and Stockholders' Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 6,353	$ 5,798	$ 11,642	$ 11,191
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	3,187	2,409	6,584	4,820
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,609	2,352	4,105	4,615
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	143	413	290	841
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 414	$ 624	$ 663	$ 915

Stock-Based Compensation and _5

Stock-Based Compensation and Stockholders' Equity - Schedule of Nonvested Units Activity (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
RSUs
Number of Restricted Stock Units
Nonvested beginning balance (in shares) \| shares	992,464
Granted (in shares) \| shares	891,598
Vested (in shares) \| shares	(430,520)
Forfeited (in shares) \| shares	(222,999)
Nonvested ending balance (in shares) \| shares	1,230,543
Weighted-Average Grant-Date Fair Value
Nonvested beginning balance (in dollars per share) \| $ / shares	$ 21.52
Granted (in dollars per share) \| $ / shares	18.42
Vested (in dollars per share) \| $ / shares	22.13
Forfeited (in dollars per share) \| $ / shares	19.32
Nonvested ending balance (in dollars per share) \| $ / shares	$ 19.46
PSUs
Number of Restricted Stock Units
Nonvested beginning balance (in shares) \| shares	1,130,779
Granted (in shares) \| shares	693,936
Vested (in shares) \| shares	(122,241)
Forfeited (in shares) \| shares	(352,116)
Nonvested ending balance (in shares) \| shares	1,350,358
Weighted-Average Grant-Date Fair Value
Nonvested beginning balance (in dollars per share) \| $ / shares	$ 23.68
Granted (in dollars per share) \| $ / shares	18.89
Vested (in dollars per share) \| $ / shares	26.33
Forfeited (in dollars per share) \| $ / shares	22.31
Nonvested ending balance (in dollars per share) \| $ / shares	$ 21.85

Stock-Based Compensation and _6

Stock-Based Compensation and Stockholders' Equity - Narrative (Details) - USD ($)		3 Months Ended	6 Months Ended
	Jun. 20, 2024	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Apr. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares entitled per RSU (in shares)			1
Nonvested award, option, cost not yet recognized, amount		$ 200,000	$ 200,000
Stock options granted during period (in shares)			566,811	156,592
Stock repurchase program, authorized amount					$ 40,000,000
Purchase of treasury stock (in shares)	26,495
Purchase of treasury stock	$ 500,000	499,000	$ 499,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense		$ 19,100,000	$ 19,100,000
Share-based payment arrangement, period for recognition (in years)			1 year 11 months 23 days
ESPP shares issued during period (in shares)			430,520
Nonvested balance (in shares)		1,230,543	1,230,543			992,464
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period (in years)			3 years
Unrecognized stock based compensation expense		$ 15,100,000	$ 15,100,000
Share-based payment arrangement, period for recognition (in years)			1 year 7 months 20 days
Shares of entitled common stock (in shares)			1.5
Award vesting period (in years)			3 years
Nonvested balance (in shares)		1,350,358	1,350,358			1,130,779
PSUs \| Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested balance (in shares)		729,894	729,894
PSUs \| Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested balance (in shares)		1,094,821	1,094,821
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, period for recognition (in years)			3 months 14 days
Stock options expected to vest (in shares)		83,334	83,334
Stock options expected to vest, weighted average grant-date fair value (in dollars per share)		$ 13.82	$ 13.82
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP shares issued during period (in shares)			149,983	189,837
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price of options exercised during period (in dollars per share)			$ 3.68	$ 3.68
Minimum \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period (in years)			1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price of options exercised during period (in dollars per share)			$ 13.82	$ 13.82
Maximum \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period (in years)			3 years

Earnings per Share - Schedule o

Earnings per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic net income per share:
Net income	$ 5,548	$ 15,978	$ 13,972	$ 25,292
Weighted-average common shares outstanding during the period (in shares)	36,004,324	34,575,338	35,818,549	34,625,561
Basic net income per share (in dollars per share)	$ 0.15	$ 0.46	$ 0.39	$ 0.73
Diluted net income per share:
Net income	$ 5,548	$ 15,978	$ 13,972	$ 25,292
Weighted-average basic shares outstanding during the period (in shares)	36,004,324	34,575,338	35,818,549	34,625,561
Plus: Common stock equivalents associated with stock-based compensation (in shares)	1,627,501	2,287,957	2,213,583	2,331,372
Weighted-average diluted shares outstanding (in shares)	37,631,825	36,863,295	38,032,132	36,956,933
Diluted net income per share (in dollars per share)	$ 0.15	$ 0.43	$ 0.37	$ 0.68

Earnings per Share - Schedule_2

Earnings per Share - Schedule of Computation of Diluted Shares Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Outstanding RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of antidilutive securities not included in calculation of earnings per share (in shares)	52,683	339,173	192,347	328,207
Outstanding PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of antidilutive securities not included in calculation of earnings per share (in shares)	124,811	284,025	221,326	284,025
Outstanding ESPP shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of antidilutive securities not included in calculation of earnings per share (in shares)	124,502	105,559	167,265	76,846
Outstanding Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of antidilutive securities not included in calculation of earnings per share (in shares)	0	5,231,572	0	5,234,493

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (as percent)	54.40%	(27.30%)	46.20%	4.10%
Unrecognized tax benefits	$ 18.1		$ 18.1		$ 17.1
Penalties and interest expense			10.1		$ 9
Unrecognized tax benefits that would impact effective tax rate	$ 15.6		$ 15.6

Contingent Liabilities (Details

Contingent Liabilities (Details) $ in Millions	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2018 case petition
Loss Contingencies [Line Items]
Number of petitions filed \| petition			3
Number of cases consolidated by court \| case			3
Section 199 Tax Case \| IRS
Loss Contingencies [Line Items]
Reserve in connection with disallowance	$ 27.2	$ 26.1
Research and Development Tax Case \| IRS
Loss Contingencies [Line Items]
Reserve in connection with disallowance	$ 0.1	$ 0.1

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 152,700	$ 382,267
Ending balance	183,060	404,326
Foreign currency translation adjustment, tax	100	(1,100)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(15,191)	(16,261)
Foreign currency translation adjustment, net of tax expense of $0.1 million and $1.1 million, respectively	(198)	(2,490)
Ending balance	$ (15,389)	$ (18,751)

Segment Information - Narrative

Segment Information - Narrative (Details) - segment	3 Months Ended		6 Months Ended
Segment Information - Narrative (Details) - segment	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue, Major Customer [Line Items]
Number of operating segments			2
Number of reportable segments			2
International \| Revenue Benchmark \| Geographic Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage	16.90%	18.90%	15.90%	17.60%

Segment Information - Schedule

Segment Information - Schedule of Segment Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue	$ 224,084	$ 251,421	$ 457,708	$ 496,976
Segment Gross Profit	148,588	160,085	302,229	314,893
Segment Adjusted EBITDA	59,314	69,439	113,428	127,908
Thryv Marketing Services
Segment Reporting Information [Line Items]
Revenue	146,290	188,963	305,592	374,589
Segment Gross Profit	96,299	120,875	200,845	238,529
Segment Adjusted EBITDA	49,149	63,209	99,828	121,882
Thryv SaaS
Segment Reporting Information [Line Items]
Revenue	77,794	62,458	152,116	122,387
Segment Gross Profit	52,289	39,210	101,384	76,364
Segment Adjusted EBITDA	$ 10,165	$ 6,230	$ 13,600	$ 6,026

Segment Information - Schedul_2

Segment Information - Schedule of Reconciliation of Earnings Before Interest, Tax, Depreciation, and Amortization from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting [Abstract]
Income before income tax expense	$ 12,166	$ 12,550	$ 25,987	$ 26,360
Interest expense	12,175	16,292	25,534	32,780
Depreciation and amortization expense	14,072	15,667	28,625	31,098
Stock-based compensation expense	6,353	5,798	11,642	11,191
Restructuring and integration expenses	7,553	3,921	12,818	9,261
Transaction costs	0	0	0	373
Other components of net periodic pension cost	1,581	1,865	3,162	1,986
Loss on early extinguishment of debt	6,638	0	6,638	0
Non-cash loss from remeasurement of indemnification asset	0	11,490	0	10,734
Other	(1,224)	1,856	(978)	4,125
Total Segment Adjusted EBITDA	$ 59,314	$ 69,439	$ 113,428	$ 127,908

Segment Information - Schedul_3

Segment Information - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 224,084	$ 251,421	$ 457,708	$ 496,976
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	178,129	197,834	374,569	403,261
International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	45,955	53,587	83,139	93,715
Thryv Marketing Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	146,290	188,963	305,592	374,589
Thryv SaaS
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	77,794	62,458	152,116	122,387
Print \| Thryv Marketing Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	82,631	86,494	167,267	163,860
Digital \| Thryv Marketing Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 63,659	$ 102,469	$ 138,325	$ 210,729