Thryv (THRY) 10-Q3 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,603,870
Entity Central Index Key	0001556739
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 251,421,000	$ 333,995,000	$ 496,976,000	$ 642,370,000
Cost of services	91,336,000	106,013,000	182,083,000	216,532,000
Gross profit	160,085,000	227,982,000	314,893,000	425,838,000
Operating expenses:
Sales and marketing	75,683,000	91,813,000	152,026,000	185,768,000
General and administrative	53,695,000	52,650,000	101,375,000	104,844,000
Impairment charges	0	222,000	0	222,000
Total operating expenses	129,378,000	144,685,000	253,401,000	290,834,000
Operating income	30,707,000	83,297,000	61,492,000	135,004,000
Other income (expense):
Other components of net periodic pension (cost) benefit	(1,865,000)	9,153,000	(1,986,000)	9,223,000
Other income (expense)	0	2,404,000	(366,000)	8,626,000
Income before income tax benefit (expense)	12,550,000	80,202,000	26,360,000	123,334,000
Income tax benefit (expense)	3,428,000	(22,200,000)	(1,068,000)	(31,821,000)
Net income	15,978,000	58,002,000	25,292,000	91,513,000
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	(302,000)	(10,139,000)	(2,490,000)	(4,691,000)
Comprehensive income	$ 15,676,000	$ 47,863,000	$ 22,802,000	$ 86,822,000
Net income per common share:
Basic (in dollars per share)	$ 0.46	$ 1.69	$ 0.73	$ 2.68
Diluted (in dollars per share)	$ 0.43	$ 1.61	$ 0.68	$ 2.47
Weighted-average shares used in computing basic and diluted net income per common share:
Basic (in shares)	34,575,338	34,250,706	34,625,561	34,205,593
Diluted (in shares)	36,863,295	36,137,989	36,956,933	37,048,087
Nonrelated Party
Other income (expense):
Interest expense	$ (16,292,000)	$ (13,756,000)	$ (32,780,000)	$ (26,864,000)
Related Party
Other income (expense):
Interest expense	$ 0	$ (896,000)	$ 0	$ (2,655,000)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 15,245	$ 16,031
Accounts receivable, net of allowance of $14,399 in 2023 and $14,766 in 2022	243,893	284,698
Contract assets, net of allowance of $28 in 2023 and $33 in 2022	1,746	2,583
Taxes receivable	3,640	11,553
Prepaid expenses	29,318	25,092
Indemnification asset	0	26,495
Other current assets	15,557	11,864
Total current assets	309,399	378,316
Fixed assets and capitalized software, net	38,569	42,334
Goodwill	569,780	566,004
Intangible assets, net	31,321	34,715
Deferred tax assets	122,548	113,859
Other assets	29,610	42,649
Total assets	1,101,227	1,177,877
Current liabilities
Accounts payable	7,341	18,972
Accrued liabilities	106,606	126,810
Current portion of unrecognized tax benefits	22,969	31,919
Contract liabilities	20,136	41,854
Current portion of long-term debt	70,000	70,000
Other current liabilities	10,887	10,937
Total current liabilities	237,939	300,492
Term Loan, net	295,179	345,256
ABL Facility	68,278	54,554
Pension obligations, net	74,321	72,590
Other liabilities	21,184	22,718
Total long-term liabilities	458,962	495,118
Commitments and contingencies (see Note 13)
Stockholders' equity
Common stock - $0.01 par value, 250,000,000 shares authorized; 61,832,315 shares issued and 34,477,286 shares outstanding at June 30, 2023; and 61,279,379 shares issued and 34,593,837 shares outstanding at December 31, 2022	618	613
Additional paid-in capital	1,121,804	1,105,701
Treasury stock - 27,355,029 shares at June 30, 2023 and 26,685,542 shares at December 31, 2022	(485,730)	(468,879)
Accumulated other comprehensive income (loss)	(18,751)	(16,261)
Accumulated deficit	(213,615)	(238,907)
Total stockholders' equity	404,326	382,267
Total liabilities and stockholders' equity	$ 1,101,227	$ 1,177,877

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 14,399	$ 14,766
Contract with customer, asset, allowance for credit loss	$ 28	$ 33
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	61,832,315	61,279,379
Common stock, shares outstanding (in shares)	34,477,286	34,593,837
Treasury stock (in shares)	27,355,029	26,685,542

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (unaudited) - 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, 2021		60,830,853
Beginning balance at Dec. 31, 2021	$ 314,715	$ 608	$ 1,084,288	$ (468,879)	$ (8,047)	$ (293,255)
Beginning balance, treasury stock (in shares) at Dec. 31, 2021				(26,685,542)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of RSUs and PSUs (in shares)		290,205
Exercise of stock options, vesting of RSUs and PSUs	4,339	$ 3	4,336
Stock compensation expense	5,738		5,738
Foreign currency translation adjustment, net of tax	(4,691)				(4,691)
Net income	91,513					91,513
Ending balance (in shares) at Jun. 30, 2022		61,121,058
Ending balance at Jun. 30, 2022	411,614	$ 611	1,094,362	$ (468,879)	(12,738)	(201,742)
Ending balance, treasury stock (in shares) at Jun. 30, 2022				(26,685,542)
Beginning balance (in shares) at Mar. 31, 2022		60,913,663
Beginning balance at Mar. 31, 2022	356,441	$ 609	1,087,054	$ (468,879)	(2,599)	(259,744)
Beginning balance, treasury stock (in shares) at Mar. 31, 2022				(26,685,542)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of RSUs and PSUs (in shares)		207,395
Exercise of stock options, vesting of RSUs and PSUs	3,500	$ 2	3,498
Stock compensation expense	3,810		3,810
Foreign currency translation adjustment, net of tax	(10,139)				(10,139)
Net income	58,002					58,002
Ending balance (in shares) at Jun. 30, 2022		61,121,058
Ending balance at Jun. 30, 2022	$ 411,614	$ 611	1,094,362	$ (468,879)	(12,738)	(201,742)
Ending balance, treasury stock (in shares) at Jun. 30, 2022				(26,685,542)
Beginning balance (in shares) at Dec. 31, 2022	34,593,837	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)			(26,685,542)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of RSUs and PSUs (in shares)		552,936		(55,533)
Exercise of stock options, vesting of RSUs and PSUs	$ 3,826	$ 5	4,912	$ (1,091)
Stock 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	34,477,286	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)			(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]
Exercise of stock options, vesting of RSUs and PSUs (in shares)		274,504		(1,243)
Exercise of stock options, vesting of RSUs and PSUs	3,559	$ 2	3,586	$ (29)
Stock 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	34,477,286	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)			(27,355,029)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net income	$ 25,292	$ 91,513
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	31,098	42,561
Amortization of deferred commissions	5,032	5,174
Amortization of debt issuance costs	2,721	2,883
Deferred income taxes	(9,135)	(16,752)
Provision for credit losses and service credits	11,580	13,043
Stock-based compensation expense	11,191	5,738
Other components of net periodic pension cost (benefit)	1,986	(9,223)
Impairment charges	0	222
Gain on foreign currency exchange rates	(881)	(1,622)
Non-cash loss (gain) from remeasurement of indemnification asset	10,734	(887)
Bargain purchase gain	0	(7,005)
Other	0	1,688
Changes in working capital items, excluding acquisitions:
Accounts receivable	25,075	(10,298)
Contract assets	837	1,793
Prepaid expenses and other assets	10,090	2,748
Accounts payable and accrued liabilities	(38,654)	(29,472)
Other liabilities	(29,230)	(35,201)
Net cash provided by operating activities	57,736	56,903
Cash Flows from Investing Activities
Additions to fixed assets and capitalized software	(14,016)	(9,648)
Acquisition of a business, net of cash acquired	(8,897)	(22,777)
Other	(217)	0
Net cash (used in) investing activities	(23,130)	(32,425)
Cash Flows from Financing Activities
Proceeds from ABL Facility	483,473	488,547
Payments of ABL Facility	(469,750)	(471,866)
Other	3,826	4,338
Net cash (used in) financing activities	(34,951)	(21,481)
Effect of exchange rate changes on cash and cash equivalents	(240)	(627)
(Decrease) increase in cash and cash equivalents and restricted cash	(585)	2,370
Cash and cash equivalents and restricted cash, beginning of period	18,180	13,557
Cash and cash equivalents and restricted cash, end of period	17,595	15,927
Supplemental Information
Cash paid for interest	29,592	24,915
Cash paid for income taxes, net	7,419	36,934
Non-cash investing and financing activities
Repurchase of Treasury stock as a result of the settlement of the indemnification asset	15,760	0
Term Loan
Cash Flows from Financing Activities
Payments of Term Loan	(52,500)	(36,828)
Payments of Term Loan, related party	$ 0	$ (5,672)

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
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 ( “Print” ) and digital marketing services ( “Digital” ), which includes Internet Yellow Pages, search engine marketing, and other digital media services, including online display advertising, and search engine optimization tools. In addition, through the Thryv® platform, the Company is a provider of SaaS small business management software 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 . Additionally, o n January 21, 2022, Thryv, Inc., the Company’s wholly-owned subsidiary, acquired Vivial Media Holdings, Inc. (“ Vivial ”), a marketing and advertising company with operations in the United States . The Company reports its results based on four reportable segments (see Note 15, Segment Information) : • Thryv U.S. Marketing Services, which includes the Company's Print and Digital solutions business in the United States; • Thryv U.S. SaaS, which includes the Company's SaaS flagship all-in-one small business management modular software platform in the United States; • Thryv International Marketing Services, which is comprised of the Company's Print and Digital solutions business outside of the United States; and • Thryv International SaaS, which primarily includes the Company's flagship all-in-one small business management modular software platform outside of the United States. 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, 2023 and 2022 have been prepared on the same basis as the audited annual financial statements . The consolidated balance sheet as of December 31, 2022 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, 2022. 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, 2022. There have been no changes to the Company's significant accounting policies during the three and six months ended June 30, 2023. Restricted Cash The following table presents a reconciliation of Cash and 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, 2023 and 2022: (in thousands) June 30, 2023 June 30, 2022 December 31, 2022 Cash and cash equivalents $ 15,245 $ 13,746 $ 16,031 Restricted cash, included in Other current assets 2,350 2,181 2,149 Total Cash and cash equivalents and restricted cash $ 17,595 $ 15,927 $ 18,180

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Jun. 30, 2023
Business Combination and Asset Acquisition [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 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 preliminary purchase price allocation is expected to be finalized within 12 months after the Yellow Acquisition Date. 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 is allocated to the Thryv International Marketing Services segment. The goodwill recognized is not deductible for income tax purposes. The Yellow Acquisition has contributed $6.0 million in revenue since the Yellow Acquisition Date. Vivial Acquisition On January 21, 2022 (the “ Vivial Acquisition Date ”), Thryv, Inc., the Company’s wholly-owned subsidiary, acquired Vivial, for $22.8 million in cash (net of $8.5 million of cash acquired) (the “ Vivial Acquisition ”). The assets acquired as part of these transactions consisted primarily of $27.7 million in current assets and $9.8 million in fixed and intangible assets, consisting primarily of customer relationships and technology assets, $14.5 million in deferred tax assets, along with a $10.9 million bargain purchase gain. The Vivial Acquisition resulted in a bargain purchase gain in part because the seller was motivated to divest its marketing services business that was in secular decline. The Company also assumed liabilities of $20.4 million, consisting primarily of accounts payable and accrued liabilities. The Company accounted for the Vivial Acquisition using the acquisition method of accounting in accordance with 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 Vivial’s assets acquired and liabilities assumed. The following table summarizes the assets acquired and liabilities assumed at the Vivial Acquisition Date: (in thousands) Current assets $ 27,705 Fixed and intangible assets 9,759 Deferred tax assets 14,530 Other assets 2,103 Current liabilities (18,775) Other liabilities (1,646) Bargain purchase gain (10,883) Fair value allocated to net assets acquired, net of bargain purchase gain $ 22,793

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2023
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 consist of advance payments and revenue deferrals resulting from the allocation of the consideration to performance obligations. For the three and six months ended June 30, 2023, the Company recognized Revenue of $9.2 million and $39.0 million, respectively, that was recorded in Contract liabilities as of December 31, 2022

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2023
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 is 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, 2023, the Company no longer recorded a Level 1 indemnification asset because it was settled on June 22, 2023. As of December 31, 2022, the fair value of the Company's Level 1 indemnification asset was $26.5 million. 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, respectively, was recorded in General and administrative expense on the Company's consolidated statements of operations and comprehensive income (loss). The $15.8 million Indemnity Amount, 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 ABL Facility (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 Term Loan (as defined in Note 8, Debt Obligations ) is carried at amortized cost; however, the Company estimates the fair value of the Term Loan for disclosure purposes. The fair value of the Term Loan is 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 Term Loan: June 30, 2023 December 31, 2022 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Term Loan, net $ 365,179 $ 362,214 $ 415,256 $ 410,065

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The following tables set forth the changes in the carrying amount of the Company's goodwill for the six months ended June 30, 2023 and the year ended December 31, 2022 . Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Balance as of December 31, 2021 $ 390,573 $ 218,884 $ 62,429 $ — $ 671,886 Additions — — — — — Impairments (102,000) — — — (102,000) Effects of foreign currency translation — — (3,882) — (3,882) Balance as of December 31, 2022 $ 288,573 $ 218,884 $ 58,547 $ — $ 566,004 Additions — — — — — Impairments — — — — — Yellow Acquisition 1 — — 5,129 — 5,129 Effects of foreign currency translation — — (1,353) — (1,353) Balance as of June 30, 2023 $ 288,573 $ 218,884 $ 62,323 $ — $ 569,780 (1) Yellow was included in the International Marketing Services reporting unit. Intangible Assets The following tables set forth the details of the Company's intangible assets as of June 30, 2023 and December 31, 2022 : As of June 30, 2023 (in thousands) Gross Accumulated Net Weighted Client relationships $ 797,800 $ (777,849) $ 19,951 1.7 Trademarks and domain names 223,905 (217,859) 6,046 1.9 Patented technologies 19,600 (19,600) — 0.0 Covenants not to compete 10,352 (5,028) 5,324 1.2 Total intangible assets $ 1,051,657 $ (1,020,336) $ 31,321 1.6 As of December 31, 2022 (in thousands) Gross Accumulated Net Weighted Client relationships $ 796,213 $ (771,475) $ 24,738 1.8 Trademarks and domain names 223,206 (215,639) 7,567 1.7 Patented technologies 19,600 (19,600) — 0.0 Covenants not to compete 5,240 (2,830) 2,410 2.0 Total intangible assets $ 1,044,259 $ (1,009,544) $ 34,715 1.8 Amortization expense for intangible assets for the three and six months ended June 30, 2023 was $6.5 million and $12.7 million , respectively. Amortization expense for the three and six months ended June 30, 2022 was $11.8 million and $25.0 million, respectively. Estimated aggregate future amortization expense by fiscal year for the Company's intangible assets is as follows: (in thousands) Estimated Future 2023 $ 12,942 2024 15,800 2025 2,000 2026 406 2027 135 Thereafter 38 Total $ 31,321

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
Allowance for Credit Losses	Jun. 30, 2023
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, 2023 and 2022: (in thousands) 2023 2022 Balance as of January 1 $ 14,799 $ 17,475 Additions (1) 7,262 7,880 Deductions (2) (7,634) (9,228) Balance as of June 30 (3) $ 14,427 $ 16,127 (1) For the six months ended June 30, 2023 and 2022, the Company recorded a provision for bad debt expense of $7.3 million and $7.9 million, respectively, which is included in General and administrative expense. For the three months ended June 30, 2023 and 2022, the Company recorded a provision for bad debt expense of $3.4 million and $4.6 million, respectively, which is included in General and administrative expense. (2) For the six months ended June 30, 2023 and 2022, represents amounts written off as uncollectible, net of recoveries. (3) 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. As of June 30, 2022, $16.0 million of the allowance is attributable to Accounts receivable and less than $0.1 million is attributable to Contract assets.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
Accrued Liabilities	Jun. 30, 2023
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, 2023 and December 31, 2022: (in thousands) June 30, 2023 December 31, 2022 Accrued salaries and related expenses $ 45,362 $ 62,044 Accrued expenses 46,739 52,313 Accrued taxes 11,749 9,799 Accrued service credits 2,756 2,654 Accrued liabilities $ 106,606 $ 126,810

Debt Obligations

Debt Obligations	6 Months Ended
Debt Obligations	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations The following table sets forth the Company's outstanding debt obligations as of June 30, 2023 and December 31, 2022: (in thousands) Maturity Interest Rate June 30, 2023 December 31, 2022 Term Loan (1) March 1, 2026 SOFR + 8.5% $ 376,868 $ 429,368 ABL Facility (Seventh Amendment) (2) March 1, 2026 Adjusted Daily Simple SOFR + 3.0% 68,278 54,554 Unamortized original issue discount and debt issuance costs (11,689) (14,112) Total debt obligations $ 433,457 $ 469,810 Current portion of Term Loan (70,000) (70,000) Total long-term debt obligations $ 363,457 $ 399,810 (1) Effective June 30, 2023, the Company's Term Loan amendment replaced the LIBOR benchmark with a Secured Overnight Financing Rate (“ SOFR ”) based benchmark. (2) Effective June 1, 2023, the Company's ABL Facility amendment replaced the LIBOR benchmark with a SOFR based benchmark. Term Loan On March 1, 2021, the Company entered into a Term Loan credit agreement (the “ Term Loan ”). The proceeds of the Term Loan were used to finance the acquisition of Sensis Holding Limited (the “ Thryv Australia Acquisition ”), refinance in full the Company's existing term loan facility (the “ Senior Term Loan ”), and pay fees and expenses related to the Thryv Australia Acquisition and related financing. The Term Loan established a senior secured term loan facility (the “ Term Loan Facility ”) in an aggregate principal amount equal to $700.0 million, of which 38.4% was held by related parties who were equity holders of the Company as of March 1, 2021. As of June 30, 2023 and December 31, 2022 , no portion of the Term Loan was held by related parties who were equity holders of the Company as of such date. The Term Loan Facility matures on March 1, 2026. For the three and six months ended June 30, 2023, borrowings under the Term Loan Facility bore interest at a fluctuating rate per annum equal to, at the Company’s option, LIBOR or a base rate, in each case, plus an applicable margin per annum equal to (i) 8.50% (for LIBOR loans) and (ii) 7.50% (for base rate loans). The Term Loan Facility requires mandatory amortization payments equal to $17.5 million per fiscal quarter. On June 21, 2023, the Company entered into an agreement to amend the Term Loan Facility (the “ Term Loan Amendment ”). The Term Loan Amendment replaced the LIBOR benchmark applicable to the loan with a SOFR based rate. Effective June 30, 2023, borrowings under the Term Loan Facility bear interest at a fluctuating rate per annum equal to, at the Company’s option, SOFR or a base rate, in each case, plus an applicable margin per annum equal to (i) 8.50% (for SOFR loans) and (ii) 7.50% (for base rate loans). In accordance with the Term Loan, the Company recorded no interest expense with related parties for the three and six months ended June 30, 2023, compared to $0.9 million and $2.7 million of interest expense with related parties for the three and six months ended June 30, 2022. The Company has recorded accrued interest of $1.7 million and $1.2 million as of June 30, 2023 and December 31, 2022, respectively. Accrued interest is included in Other current liabilities on the Company's consolidated balance sheets. Term Loan Covenants The Term Loan contains certain covenants that, subject to exceptions, limit or restrict the borrower's incurrence of additional indebtedness, liens, investments, loans, advances, guarantees, acquisitions, sales of assets, sale-leaseback transactions, swap agreements, payments of dividends or distributions, payments in respect of certain indebtedness, certain affiliate transactions, restrictive amendments to agreements, changes in business, amendments of certain material documents, capital expenditures, mergers, consolidations and liquidations, and use of the proceeds. Additionally, the Company is required to maintain compliance with a Total Net Leverage Ratio, calculated as Net Debt to Consolidated EBITDA, which shall not be greater than 3.0 to 1.0 as of the last day of each fiscal quarter. As of June 30, 2023, the Company was in compliance with its Term Loan covenants. The Company also expects to be in compliance with these covenants for the next twelve months. ABL Facility On March 1, 2021, the Company entered into an agreement to amend (the “ ABL Amendment ”) the June 30, 2017 asset-based lending (“ ABL ”) facility (the “ ABL Facility ”). The ABL Amendment was entered into in order to permit the Senior Term Loan refinancing, the Thryv Australia Acquisition and make certain other changes to the ABL credit agreement, including, among others: • revise the maximum revolver amount to $175.0 million; • reduce the interest rate per annum to (i) 3-month LIBOR plus 3.00% for LIBOR loans and (ii) base rate plus 2.00% for base rate loans; • reduce the commitment fee on undrawn amounts under the ABL Facility to 0.375%; • extend the maturity date of the ABL Facility to the earlier of March 1, 2026 and 91 days prior to the stated maturity date of the Term Loan Facility; • add the Australian subsidiaries acquired pursuant to the Thryv Australia Acquisition as borrowers and guarantors, and establish an Australian borrowing base; and • make certain other conforming changes consistent with the Term Loan agreement. On June 1, 2023, the Company entered into an agreement to amend its existing ABL Facility (the “ ABL Seventh Amendment ”). The ABL Seventh Amendment replaced the 3-month LIBOR benchmark applicable to the facility with a SOFR based rate, defined as the Adjusted Daily Simple SOFR. Borrowings under the ABL Facility bear interest at a rate per annum equal to (i) Adjusted Daily Simple SOFR plus 3.00% for SOFR loans and (ii) base rate plus 2.00% for base rate loans. As of June 30, 2023 and December 31, 2022, the Company had debt issuance costs with a remaining balance of $1.7 million and $2.0 million, respectively. These debt issuance costs are included in Other assets on the Company's consolidated balance sheets. As of June 30, 2023, the Company had borrowing capacity of $54.2 million under the ABL Facility. ABL Facility Covenants The ABL Facility contains certain covenants that, subject to exceptions, limit or restrict the borrower's incurrence of additional indebtedness, liens, investments, loans, advances, guarantees, acquisitions, disposals of assets, payments of certain indebtedness, certain affiliate transactions, changes in fiscal year or accounting methods, issuance or sale of equity instruments, mergers, liquidations and consolidations, use of proceeds, maintenance of certain deposit accounts, compliance with certain ERISA requirements and compliance with certain Australian tax requirements. The Company is required to maintain compliance with a fixed charge coverage ratio that must exceed a ratio of 1.00. The fixed charge coverage ratio is defined as, with respect to any fiscal period determined on a consolidated basis in accordance with GAAP, the ratio of (a) Consolidated EBITDA as defined in the ABL credit agreement for such period minus capital expenditures incurred during such period, to (b) fixed charges. Fixed charges is defined as, with respect to any fiscal period determined on a consolidated basis in accordance with GAAP, the sum, without duplication, of (a) consolidated interest expense accrued (other than amortization of debt issuance costs, and other non-cash interest expense) during such period, (b) scheduled principal payments in respect of indebtedness paid during such period, (c) all federal, state, and local income taxes accrued during such period, (d) all management, consulting, monitoring, and advisory fees paid to certain individuals or their affiliates during such period, and (e) all restricted payments paid during such period (whether in cash or other property, other than common equity interest). The Company is also required to maintain excess availability of at least $14.0 million, and U.S. excess

Pensions

Pensions	6 Months Ended
Pensions	Jun. 30, 2023
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 (benefit) for the Company's pension plans: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Interest cost $ 7,406 $ 3,418 $ 10,910 $ 6,836 Expected return on assets (3,778) (3,489) (7,161) (6,977) Settlement (gain) (420) (390) (420) (390) Remeasurement (gain) (1,343) (8,692) (1,343) (8,692) Net periodic pension cost (benefit) $ 1,865 $ (9,153) $ 1,986 $ (9,223) 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, 2022, 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 $8.7 million . During the three and six months ended June 30, 2023, 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, 2022, the Company made cash contributions of $7.5 million and $15.0 million 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 2023, the Company is not anticipating making any contributions 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, 2023
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 (loss) during the periods presented: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Cost of services $ 173 $ 131 $ 322 $ 207 Sales and marketing 2,954 1,833 5,612 2,602 General and administrative 2,671 1,846 5,257 2,929 Stock-based compensation expense $ 5,798 $ 3,810 $ 11,191 $ 5,738 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) 2023 2022 2023 2022 RSUs $ 2,409 $ 792 $ 4,820 $ 792 PSUs 2,352 753 4,615 753 Stock options 413 1,507 841 3,060 ESPP 624 758 915 1,133 Stock-based compensation expense $ 5,798 $ 3,810 $ 11,191 $ 5,738 Restricted Stock Units The following table sets forth the Company's restricted stock unit (“ RSU ”) activity during the six months ended June 30, 2023: Number of Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2022 517,135 $ 25.93 Granted 709,175 19.58 Vested (199,997) 23.72 Forfeited (15,511) 24.30 Nonvested balance as of June 30, 2023 1,010,802 $ 21.55 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, 2023, the unrecognized stock-based compensation expense related to the unvested portion of the Company's RSU awards was approximately $18.6 million and is expected to be recognized over a weighted-average period of 2.0 years. During the six months ended June 30, 2023, the Company issued an aggregate of 200,887 shares of common stock to employees and non-employee directors upon the exercise 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, 2023: Number of Performance-Based Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2022 473,371 $ 26.76 Granted 657,408 21.46 Vested — — Forfeited — — Nonvested balance as of June 30, 2023 1,130,779 $ 23.68 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 performance-based vesting conditions 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. 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. 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, 2023, the nonvested balance of PSUs that vest based on performance and market conditions are 452,316 and 678,463 shares, respectively. As of June 30, 2023, the unrecognized stock-based compensation expense related to the unvested portion of the Company's PSU awards was approximately $19.0 million and is expected to be recognized over a weighted-average period of 2.1 years. Stock Options As of June 30, 2023, the unrecognized stock-based compensation expense related to the unvested portion of the Company's stock options was approximately $1.3 million, and is expected to be recognized over a weighted average period of 0.7 years. As of June 30, 2023, there were 671,595 stock options expected to vest with a weighted-average grant-date fair value of $13.09. 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. During the six months ended June 30, 2022, the Company issued an aggregate of 134,719 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, 2023, the Company issued 189,837 shares through the Employee Stock Purchase Plan (“ ESPP” ). During the six months ended June 30, 2022, the Company issued 155,486 shares through the ESPP. Stock Warrants As of June 30, 2023 and December 31, 2022 , the Company had fully vested outstanding warrants of 9,416,830 and 9,427,343, respectively. As of June 30, 2023 and December 31, 2022, the holders of such warrants were entitled to purchase, in the aggregate, up to 5,231,572 shares and 5,237,413 shares, respectively, of common stock. Warrants can be exercised at a strike price of $24.39 per common share. The warrants were issued in 2016 upon the Company's emergence from its pre-packaged bankruptcy. These warrants expire on August 15, 2023. During the three and six months ended June 30, 2023 , 10,513 warrants were exercised. During the three and six months ended June 30, 2022 , no warrants were exercised. Cash proceeds from exercises of stock warrants during the three and six months ended June 30, 2023 were $0.1 million and are recorded in Other under Cash flows from financing activities on the Company's consolidated statements of cash flows.

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Jun. 30, 2023
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, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2023 2022 2023 2022 Basic net income per share: Net income $ 15,978 $ 58,002 $ 25,292 $ 91,513 Weighted-average common shares outstanding during the period 34,575,338 34,250,706 34,625,561 34,205,593 Basic net income per share $ 0.46 $ 1.69 $ 0.73 $ 2.68 Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2023 2022 2023 2022 Diluted net income per share: Net income $ 15,978 $ 58,002 $ 25,292 $ 91,513 Basic shares outstanding during the period 34,575,338 34,250,706 34,625,561 34,205,593 Plus: Common stock equivalents associated with stock-based compensation 2,287,957 1,887,283 2,331,372 2,842,494 Diluted shares outstanding 36,863,295 36,137,989 36,956,933 37,048,087 Diluted net income per share $ 0.43 $ 1.61 $ 0.68 $ 2.47 The computation of 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, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Outstanding RSUs 339,173 525,735 328,207 262,868 Outstanding PSUs 284,025 473,371 284,025 236,686 Outstanding ESPP shares 105,559 — 76,846 16,546 Outstanding stock warrants 5,231,572 — 5,234,493 —

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate (“ ETR ”) was (27.3%) and 4.1% for the three and six months ended June 30, 2023, and 27.7% and 25.8% for the three and six months ended June 30, 2022. 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, and the discrete impact of uncertain tax positions and the settlement of the indemnification asset further discussed in Note 13, Contingent Liabilities . As of June 30, 2023 and December 31, 2022, the amount of unrecognized tax benefits was $16.7 million and $21.4 million, respectively, excluding interest and penalties, that if recognized, would impact the effective tax rate. As of June 30, 2023 and December 31, 2022, the Company had $7.9 million and $11.7 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.

Contingent Liabilities

Contingent Liabilities	6 Months Ended
Contingent Liabilities	Jun. 30, 2023
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 (loss), 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. The appeals c onference for YP occurred on May 9, 2022. The Company is working through ongoing settlement negotiations with the Appeals Officer. In advance of the IRS Appeals conference, the parties 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 was unsuccessful in its attempt to negotiate a settlement with IRS Administrative Appeals, and the IRS issued a 90-day notice to the Company. The Company filed a petition in the U.S. Tax Court on March 30, 2021 to challenge the IRS denial. As of June 30, 2023 and December 31, 2022, the Company has reserved approximately $25.1 million and $34.0 million, respectively, in connection with the Section 199 disallowance and less than $0.1 million related to the research and development tax credit disallowance. Pursuant to the YP Acquisition agreement, the Company is entitled to (i) a dollar-for-dollar indemnification for the research and development tax liability, and (ii) a dollar-for-dollar indemnification for the Section 199-tax liability after the Company pays the first $8.0 million in liability. The indemnification asset, however, is subject to a provision in the YP Acquisition agreement that limits the seller’s liability. The indemnification asset balance was $26.5 million as of December 31, 2022. The indemnification asset was settled with the seller as of June 30, 2023. See Note 4, Fair Value Measurements. 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 described in Note 15 Contingent Liabilities of our Form 10-K for year ended December 31, 2022. Once finalized, the Draft Settlement will result in a decrease in the unrecognized tax benefit recorded for this tax position. As a result of this new information received from the Draft Settlement provided by the IRS, we recorded a remeasurement adjustment to the related Uncertain Tax Position liability of $8.9 million for the six months ended June 30, 2023 . The same adjustment will be reflected to the Uncertain Tax Position for the case for Print Media LLC as YP LLP given the same facts and anticipated results from tax court. The Company is in continued discussion with the IRS regarding the finalization of this case and final tax impact that will result. Accordingly, we do not consider the matter effectively settled as of this quarter.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Changes in Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2023
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss), which is reported as a component of stockholders' equity, for the six months ended June 30, 2023 and 2022: Accumulated Other Comprehensive Income (Loss) (in thousands) 2023 2022 Beginning balance at January 1, $ (16,261) $ (8,047) Foreign currency translation adjustment, net of tax expense of $1.1 million and $3.9 million, respectively (2,490) (4,691) Ending balance at June 30, $ (18,751) $ (12,738)

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company manages its operations using four operating segments, which are also its reportable segments: (1) Thryv U.S. Marketing Services, (2) Thryv U.S. SaaS, (3) Thryv International Marketing Services, and (4) Thryv International SaaS. The Company does not allocate assets to its segments and the chief operating decision maker 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, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 137,684 $ 60,150 $ 51,279 $ 2,308 $ 251,421 Segment Gross Profit 88,023 37,563 32,852 1,647 160,085 Segment Adjusted EBITDA 38,233 7,123 24,976 (893) 69,439 Three Months Ended June 30, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 222,570 $ 51,167 $ 59,218 $ 1,040 $ 333,995 Segment Gross Profit 151,774 32,092 43,627 489 227,982 Segment Adjusted EBITDA 83,674 197 34,545 (2,416) 116,000 Six Months Ended June 30, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 284,984 $ 118,277 $ 89,605 $ 4,110 $ 496,976 Segment Gross Profit 181,197 73,523 57,332 2,841 314,893 Segment Adjusted EBITDA 79,497 8,245 42,385 (2,219) 127,908 Six Months Ended June 30, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 435,103 $ 98,510 $ 106,882 $ 1,875 $ 642,370 Segment Gross Profit 288,284 61,501 75,343 710 425,838 Segment Adjusted EBITDA 150,069 (4,167) 58,642 (4,827) 199,717 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) 2023 2022 2023 2022 Income before income tax expense $ 12,550 $ 80,202 $ 26,360 $ 123,334 Interest expense 16,292 14,652 32,780 29,519 Depreciation and amortization expense 15,667 20,592 31,098 42,561 Stock-based compensation expense 5,798 3,810 11,191 5,738 Restructuring and integration expenses 3,921 4,822 9,261 10,649 Transaction costs (1) — 1,616 373 3,336 Other components of net periodic pension cost (benefit) 1,865 (9,153) 1,986 (9,223) Non-cash loss (gain) from remeasurement of indemnification asset 11,490 (487) 10,734 (887) Impairment charges — 222 — 222 Other 1,856 (276) 4,125 (5,532) Total Segment Adjusted EBITDA $ 69,439 $ 116,000 $ 127,908 $ 199,717 (1) Consists of Yellow Acquisition, Vivial 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) 2023 2022 2023 2022 Thryv U.S. Print $ 56,312 $ 104,264 $ 115,566 $ 202,170 Digital 81,372 118,306 169,418 232,933 Total Marketing Services 137,684 222,570 284,984 435,103 SaaS 60,150 51,167 118,277 98,510 Total Thryv U.S. $ 197,834 $ 273,737 $ 403,261 $ 533,613 Thryv International Print $ 30,182 $ 34,907 $ 48,294 $ 56,407 Digital 21,097 24,311 41,311 50,475 Total Marketing Services 51,279 59,218 89,605 106,882 SaaS 2,308 1,040 4,110 1,875 Total Thryv International $ 53,587 $ 60,258 $ 93,715 $ 108,757 Revenue $ 251,421 $ 333,995 $ 496,976 $ 642,370

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 15,978	$ 58,002	$ 25,292	$ 91,513

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	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, 2023
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, 2023 and 2022 have been prepared on the same basis as the audited annual financial statements . The consolidated balance sheet as of December 31, 2022 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, 2022.
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.
Restricted Cash	Restricted Cash The following table presents a reconciliation of Cash and 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, 2023 and 2022: (in thousands) June 30, 2023 June 30, 2022 December 31, 2022 Cash and cash equivalents $ 15,245 $ 13,746 $ 16,031 Restricted cash, included in Other current assets 2,350 2,181 2,149 Total Cash and cash equivalents and restricted cash $ 17,595 $ 15,927 $ 18,180

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table presents a reconciliation of Cash and 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, 2023 and 2022: (in thousands) June 30, 2023 June 30, 2022 December 31, 2022 Cash and cash equivalents $ 15,245 $ 13,746 $ 16,031 Restricted cash, included in Other current assets 2,350 2,181 2,149 Total Cash and cash equivalents and restricted cash $ 17,595 $ 15,927 $ 18,180

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Jun. 30, 2023
Business Combination and Asset Acquisition [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 The following table summarizes the assets acquired and liabilities assumed at the Vivial Acquisition Date: (in thousands) Current assets $ 27,705 Fixed and intangible assets 9,759 Deferred tax assets 14,530 Other assets 2,103 Current liabilities (18,775) Other liabilities (1,646) Bargain purchase gain (10,883) Fair value allocated to net assets acquired, net of bargain purchase gain $ 22,793

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table sets forth the carrying amount and fair value of the Term Loan: June 30, 2023 December 31, 2022 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Term Loan, net $ 365,179 $ 362,214 $ 415,256 $ 410,065

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following tables set forth the changes in the carrying amount of the Company's goodwill for the six months ended June 30, 2023 and the year ended December 31, 2022 . Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Balance as of December 31, 2021 $ 390,573 $ 218,884 $ 62,429 $ — $ 671,886 Additions — — — — — Impairments (102,000) — — — (102,000) Effects of foreign currency translation — — (3,882) — (3,882) Balance as of December 31, 2022 $ 288,573 $ 218,884 $ 58,547 $ — $ 566,004 Additions — — — — — Impairments — — — — — Yellow Acquisition 1 — — 5,129 — 5,129 Effects of foreign currency translation — — (1,353) — (1,353) Balance as of June 30, 2023 $ 288,573 $ 218,884 $ 62,323 $ — $ 569,780
Schedule of Finite-Lived Intangible Assets	The following tables set forth the details of the Company's intangible assets as of June 30, 2023 and December 31, 2022 : As of June 30, 2023 (in thousands) Gross Accumulated Net Weighted Client relationships $ 797,800 $ (777,849) $ 19,951 1.7 Trademarks and domain names 223,905 (217,859) 6,046 1.9 Patented technologies 19,600 (19,600) — 0.0 Covenants not to compete 10,352 (5,028) 5,324 1.2 Total intangible assets $ 1,051,657 $ (1,020,336) $ 31,321 1.6 As of December 31, 2022 (in thousands) Gross Accumulated Net Weighted Client relationships $ 796,213 $ (771,475) $ 24,738 1.8 Trademarks and domain names 223,206 (215,639) 7,567 1.7 Patented technologies 19,600 (19,600) — 0.0 Covenants not to compete 5,240 (2,830) 2,410 2.0 Total intangible assets $ 1,044,259 $ (1,009,544) $ 34,715 1.8
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated aggregate future amortization expense by fiscal year for the Company's intangible assets is as follows: (in thousands) Estimated Future 2023 $ 12,942 2024 15,800 2025 2,000 2026 406 2027 135 Thereafter 38 Total $ 31,321

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
Allowance for Credit Losses (Tables)	Jun. 30, 2023
Credit Loss [Abstract]
Schedule of Accounts Receivable, Allowance for Credit Loss	The following table sets forth the Company's allowance for credit losses as of June 30, 2023 and 2022: (in thousands) 2023 2022 Balance as of January 1 $ 14,799 $ 17,475 Additions (1) 7,262 7,880 Deductions (2) (7,634) (9,228) Balance as of June 30 (3) $ 14,427 $ 16,127 (1) For the six months ended June 30, 2023 and 2022, the Company recorded a provision for bad debt expense of $7.3 million and $7.9 million, respectively, which is included in General and administrative expense. For the three months ended June 30, 2023 and 2022, the Company recorded a provision for bad debt expense of $3.4 million and $4.6 million, respectively, which is included in General and administrative expense. (2) For the six months ended June 30, 2023 and 2022, represents amounts written off as uncollectible, net of recoveries. (3) 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.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
Accrued Liabilities (Tables)	Jun. 30, 2023
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, 2023 and December 31, 2022: (in thousands) June 30, 2023 December 31, 2022 Accrued salaries and related expenses $ 45,362 $ 62,044 Accrued expenses 46,739 52,313 Accrued taxes 11,749 9,799 Accrued service credits 2,756 2,654 Accrued liabilities $ 106,606 $ 126,810

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
Debt Obligations (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table sets forth the Company's outstanding debt obligations as of June 30, 2023 and December 31, 2022: (in thousands) Maturity Interest Rate June 30, 2023 December 31, 2022 Term Loan (1) March 1, 2026 SOFR + 8.5% $ 376,868 $ 429,368 ABL Facility (Seventh Amendment) (2) March 1, 2026 Adjusted Daily Simple SOFR + 3.0% 68,278 54,554 Unamortized original issue discount and debt issuance costs (11,689) (14,112) Total debt obligations $ 433,457 $ 469,810 Current portion of Term Loan (70,000) (70,000) Total long-term debt obligations $ 363,457 $ 399,810 (1) Effective June 30, 2023, the Company's Term Loan amendment replaced the LIBOR benchmark with a Secured Overnight Financing Rate (“ SOFR ”) based benchmark.

Pensions (Tables)

Pensions (Tables)	6 Months Ended
Pensions (Tables)	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The following table details the other components of net periodic pension cost (benefit) for the Company's pension plans: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Interest cost $ 7,406 $ 3,418 $ 10,910 $ 6,836 Expected return on assets (3,778) (3,489) (7,161) (6,977) Settlement (gain) (420) (390) (420) (390) Remeasurement (gain) (1,343) (8,692) (1,343) (8,692) Net periodic pension cost (benefit) $ 1,865 $ (9,153) $ 1,986 $ (9,223)

Stock-Based Compensation and _2

Stock-Based Compensation and Stockholders' Equity (Tables)	6 Months Ended
Stock-Based Compensation and Stockholders' Equity (Tables)	Jun. 30, 2023
Equity [Abstract]
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 (loss) during the periods presented: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Cost of services $ 173 $ 131 $ 322 $ 207 Sales and marketing 2,954 1,833 5,612 2,602 General and administrative 2,671 1,846 5,257 2,929 Stock-based compensation expense $ 5,798 $ 3,810 $ 11,191 $ 5,738
Schedule of Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award	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) 2023 2022 2023 2022 RSUs $ 2,409 $ 792 $ 4,820 $ 792 PSUs 2,352 753 4,615 753 Stock options 413 1,507 841 3,060 ESPP 624 758 915 1,133 Stock-based compensation expense $ 5,798 $ 3,810 $ 11,191 $ 5,738
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, 2023: Number of Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2022 517,135 $ 25.93 Granted 709,175 19.58 Vested (199,997) 23.72 Forfeited (15,511) 24.30 Nonvested balance as of June 30, 2023 1,010,802 $ 21.55
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, 2023: Number of Performance-Based Restricted Stock Units Weighted-Average Grant-Date Fair Value Nonvested balance as of December 31, 2022 473,371 $ 26.76 Granted 657,408 21.46 Vested — — Forfeited — — Nonvested balance as of June 30, 2023 1,130,779 $ 23.68

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Jun. 30, 2023
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, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2023 2022 2023 2022 Basic net income per share: Net income $ 15,978 $ 58,002 $ 25,292 $ 91,513 Weighted-average common shares outstanding during the period 34,575,338 34,250,706 34,625,561 34,205,593 Basic net income per share $ 0.46 $ 1.69 $ 0.73 $ 2.68 Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2023 2022 2023 2022 Diluted net income per share: Net income $ 15,978 $ 58,002 $ 25,292 $ 91,513 Basic shares outstanding during the period 34,575,338 34,250,706 34,625,561 34,205,593 Plus: Common stock equivalents associated with stock-based compensation 2,287,957 1,887,283 2,331,372 2,842,494 Diluted shares outstanding 36,863,295 36,137,989 36,956,933 37,048,087 Diluted net income per share $ 0.43 $ 1.61 $ 0.68 $ 2.47
Schedule of Computation of Diluted Shares Outstanding	The computation of 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, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Outstanding RSUs 339,173 525,735 328,207 262,868 Outstanding PSUs 284,025 473,371 284,025 236,686 Outstanding ESPP shares 105,559 — 76,846 16,546 Outstanding stock warrants 5,231,572 — 5,234,493 —

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (loss), which is reported as a component of stockholders' equity, for the six months ended June 30, 2023 and 2022: Accumulated Other Comprehensive Income (Loss) (in thousands) 2023 2022 Beginning balance at January 1, $ (16,261) $ (8,047) Foreign currency translation adjustment, net of tax expense of $1.1 million and $3.9 million, respectively (2,490) (4,691) Ending balance at June 30, $ (18,751) $ (12,738)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2023
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, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 137,684 $ 60,150 $ 51,279 $ 2,308 $ 251,421 Segment Gross Profit 88,023 37,563 32,852 1,647 160,085 Segment Adjusted EBITDA 38,233 7,123 24,976 (893) 69,439 Three Months Ended June 30, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 222,570 $ 51,167 $ 59,218 $ 1,040 $ 333,995 Segment Gross Profit 151,774 32,092 43,627 489 227,982 Segment Adjusted EBITDA 83,674 197 34,545 (2,416) 116,000 Six Months Ended June 30, 2023 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 284,984 $ 118,277 $ 89,605 $ 4,110 $ 496,976 Segment Gross Profit 181,197 73,523 57,332 2,841 314,893 Segment Adjusted EBITDA 79,497 8,245 42,385 (2,219) 127,908 Six Months Ended June 30, 2022 Thryv U.S. Thryv International (in thousands) Marketing Services SaaS Marketing Services SaaS Total Revenue $ 435,103 $ 98,510 $ 106,882 $ 1,875 $ 642,370 Segment Gross Profit 288,284 61,501 75,343 710 425,838 Segment Adjusted EBITDA 150,069 (4,167) 58,642 (4,827) 199,717
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) 2023 2022 2023 2022 Income before income tax expense $ 12,550 $ 80,202 $ 26,360 $ 123,334 Interest expense 16,292 14,652 32,780 29,519 Depreciation and amortization expense 15,667 20,592 31,098 42,561 Stock-based compensation expense 5,798 3,810 11,191 5,738 Restructuring and integration expenses 3,921 4,822 9,261 10,649 Transaction costs (1) — 1,616 373 3,336 Other components of net periodic pension cost (benefit) 1,865 (9,153) 1,986 (9,223) Non-cash loss (gain) from remeasurement of indemnification asset 11,490 (487) 10,734 (887) Impairment charges — 222 — 222 Other 1,856 (276) 4,125 (5,532) Total Segment Adjusted EBITDA $ 69,439 $ 116,000 $ 127,908 $ 199,717 (1) Consists of Yellow Acquisition, Vivial 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) 2023 2022 2023 2022 Thryv U.S. Print $ 56,312 $ 104,264 $ 115,566 $ 202,170 Digital 81,372 118,306 169,418 232,933 Total Marketing Services 137,684 222,570 284,984 435,103 SaaS 60,150 51,167 118,277 98,510 Total Thryv U.S. $ 197,834 $ 273,737 $ 403,261 $ 533,613 Thryv International Print $ 30,182 $ 34,907 $ 48,294 $ 56,407 Digital 21,097 24,311 41,311 50,475 Total Marketing Services 51,279 59,218 89,605 106,882 SaaS 2,308 1,040 4,110 1,875 Total Thryv International $ 53,587 $ 60,258 $ 93,715 $ 108,757 Revenue $ 251,421 $ 333,995 $ 496,976 $ 642,370

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	4
Number of reportable segments	4

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, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 15,245	$ 16,031	$ 13,746
Restricted cash, included in Other current assets	2,350	2,149	2,181
Total Cash and cash equivalents and restricted cash	$ 17,595	$ 18,180	$ 15,927	$ 13,557

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands			6 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Apr. 03, 2023	Jan. 21, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Acquisition of a business, net of cash acquired			$ 8,897	$ 22,777
Goodwill			569,780		$ 566,004	$ 671,886
Bargain purchase gain			$ 0	$ 7,005
Yellow New Zealand
Business Acquisition [Line Items]
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
Finalization period for purchase price	12 months
Business combination, pro forma revenue, actual	$ 6,000
Vivial
Business Acquisition [Line Items]
Acquisition of a business, net of cash acquired		$ 22,800
Current assets		27,705
Fixed and intangible assets		9,759
Accounts payable assumed in business acquisition		20,400
Recognized Identifiable, cash and equivalents acquired		8,500
Deferred tax assets		14,500
Bargain purchase gain		$ 10,900

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Apr. 03, 2023	Dec. 31, 2022	Jan. 21, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 569,780		$ 566,004		$ 671,886
Vivial
Business Acquisition [Line Items]
Current assets				$ 27,705
Fixed and intangible assets				9,759
Deferred tax assets				14,530
Other assets				2,103
Current liabilities				(18,775)
Other liabilities				(1,646)
Bargain purchase gain				(10,883)
Fair value allocated to net assets acquired, net of bargain purchase gain				$ 22,793
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, net of bargain purchase gain		$ 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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 9.2	$ 12.9	$ 39	$ 25.9

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 22, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 30, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Settlement of indemnification asset		$ 15,760		$ 15,760
Loss on indemnification asset		11,490	$ (487)	10,734	$ (887)
Indemnification Asset \| Fair Value, Inputs, Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of indemnification asset						$ 26,500
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 - Fair

Fair Value Measurements - Fair Value and Carrying Value of Debt Instruments (Details) - Term Loan - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying Amount
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Term Loan, net	$ 365,179	$ 415,256
Fair Value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Term Loan, net	$ 362,214	$ 410,065

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, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 566,004	$ 671,886
Additions	0	0
Impairments	0	(102,000)
Goodwill additions	5,129
Effects of foreign currency translation	(1,353)	(3,882)
Ending balance	569,780	566,004
Marketing Services
Goodwill [Roll Forward]
Beginning balance	288,573	390,573
Additions	0	0
Impairments	0	(102,000)
Goodwill additions	0
Effects of foreign currency translation	0	0
Ending balance	288,573	288,573
SaaS
Goodwill [Roll Forward]
Beginning balance	218,884	218,884
Additions	0	0
Impairments	0	0
Goodwill additions	0
Effects of foreign currency translation	0	0
Ending balance	218,884	218,884
Marketing Services
Goodwill [Roll Forward]
Beginning balance	58,547	62,429
Additions	0	0
Impairments	0	0
Goodwill additions	5,129
Effects of foreign currency translation	(1,353)	(3,882)
Ending balance	62,323	58,547
SaaS
Goodwill [Roll Forward]
Beginning balance	0	0
Additions	0	0
Impairments	0	0
Goodwill additions	0
Effects of foreign currency translation	0	0
Ending balance	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,051,657	$ 1,044,259
Accumulated Amortization	(1,020,336)	(1,009,544)
Total	$ 31,321	$ 34,715
Weighted average remaining amortization period in years (in years)	1 year 7 months 6 days	1 year 9 months 18 days
Client relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 797,800	$ 796,213
Accumulated Amortization	(777,849)	(771,475)
Total	$ 19,951	$ 24,738
Weighted average remaining amortization period in years (in years)	1 year 8 months 12 days	1 year 9 months 18 days
Trademarks and domain names
Finite-Lived Intangible Assets [Line Items]
Gross	$ 223,905	$ 223,206
Accumulated Amortization	(217,859)	(215,639)
Total	$ 6,046	$ 7,567
Weighted average remaining amortization period in years (in years)	1 year 10 months 24 days	1 year 8 months 12 days
Patented technologies
Finite-Lived Intangible Assets [Line Items]
Gross	$ 19,600	$ 19,600
Accumulated Amortization	(19,600)	(19,600)
Total	$ 0	$ 0
Weighted average remaining amortization period in years (in years)	0 years	0 years
Covenants not to compete
Finite-Lived Intangible Assets [Line Items]
Gross	$ 10,352	$ 5,240
Accumulated Amortization	(5,028)	(2,830)
Total	$ 5,324	$ 2,410
Weighted average remaining amortization period in years (in years)	1 year 2 months 12 days	2 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 6.5	$ 11.8	$ 12.7	$ 25

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 12,942
2024	15,800
2025	2,000
2026	406
2027	135
Thereafter	38
Total	$ 31,321	$ 34,715

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance			$ 14,799	$ 17,475
Additions	$ 3,400	$ 4,600	7,262	7,880
Deductions			(7,634)	(9,228)
Ending balance	14,427	16,127	14,427	16,127
Accounts receivable, allowance for credit loss	14,400	16,000	14,400	16,000
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, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued salaries and related expenses	$ 45,362	$ 62,044
Accrued expenses	46,739	52,313
Accrued taxes	11,749	9,799
Accrued service credits	2,756	2,654
Accrued liabilities	$ 106,606	$ 126,810

Debt Obligations - Schedule of

Debt Obligations - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Unamortized original issue discount and debt issuance costs	$ (11,689)	$ (14,112)
Total debt obligations	433,457	469,810
Current portion of Term Loan	(70,000)	(70,000)
Total long-term debt obligations	363,457	399,810
Term Loan
Debt Instrument [Line Items]
Debt obligations	$ 376,868	429,368
Term Loan \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest Rate	8.50%
ABL Facility (Seventh Amendment) \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Debt obligations	$ 68,278	$ 54,554
ABL Facility (Seventh Amendment) \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Line of Credit
Debt Instrument [Line Items]
Interest Rate	3%

Debt Obligations - Narrative (D

Debt Obligations - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
Debt Obligations - Narrative (Details) - USD ($)	Mar. 01, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Interest payable, current		$ 1,700,000		$ 1,700,000		$ 1,200,000
Related Party
Debt Instrument [Line Items]
Interest expense		$ 0	$ 896,000	$ 0	$ 2,655,000
Term Loan
Debt Instrument [Line Items]
Principal value for line of credit	$ 700,000,000
Debt instrument, mandatory quarterly amortization payment	$ 17,500,000
Debt instrument, covenant, leverage ratio to EBITDA, maximum		3		3
Term Loan \| LIBOR
Debt Instrument [Line Items]
Interest rate	8.50%
Term Loan \| Base Rate
Debt Instrument [Line Items]
Interest rate	7.50%
Term Loan \| Related Party
Debt Instrument [Line Items]
Debt instrument, percent ownership	38.40%	0%		0%		0%
ABL Facility (Seventh Amendment) \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum revolver amount	$ 175,000,000
Debt issuance costs, line of credit, balance		$ 1,700,000		$ 1,700,000		$ 2,000,000
Current borrowing capacity		54,200,000		54,200,000
Debt instrument, covenant, remaining borrowing capacity required, minimum		14,000,000		14,000,000
Debt instrument, covenant, remaining borrowing capacity required for U.S excess availability, minimum		$ 10,000,000		$ 10,000,000
ABL Facility (Seventh Amendment) \| LIBOR \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Interest rate	3%
Line of credit facility, unused capacity, commitment fee percentage	0.375%
ABL Facility (Seventh Amendment) \| Base Rate \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Interest rate	2%

Pensions - Components of Pensio

Pensions - Components of Pension Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Interest cost	$ 7,406	$ 3,418	$ 10,910	$ 6,836
Expected return on assets	(3,778)	(3,489)	(7,161)	(6,977)
Settlement (gain)	(420)	(390)	(420)	(390)
Remeasurement (gain)	(1,343)	(8,692)	(1,343)	(8,692)
Net periodic pension cost (benefit)	$ 1,865	$ (9,153)	$ 1,986	$ (9,223)

Pensions - Narrative (Details)

Pensions - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Pensions - Narrative (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Gain (loss) due to settlement	$ 420,000	$ 390,000	$ 420,000	$ 390,000
Remeasurement gain (loss)	1,343,000	8,692,000	1,343,000	8,692,000
Qualified Plan \| Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution costs	0	7,500,000	0	15,000,000
Expected future employer contribution, current fiscal year	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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,798	$ 3,810	$ 11,191	$ 5,738
Cost of services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	173	131	322	207
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,954	1,833	5,612	2,602
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,671	$ 1,846	$ 5,257	$ 2,929

Stock-Based Compensation and _4

Stock-Based Compensation and Stockholders' Equity - Share based Payment Award (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,798	$ 3,810	$ 11,191	$ 5,738
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,409	792	4,820	792
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,352	753	4,615	753
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	413	1,507	841	3,060
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 624	$ 758	$ 915	$ 1,133

Stock-Based Compensation and _5

Stock-Based Compensation and Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
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	$ 1.3		$ 1.3
Stock options granted during period (in shares)			156,592	134,719
Warrants outstanding (in shares)	9,416,830		9,416,830		9,427,343
Number of shares of common stock to be issued for upon exercise of warrants (in shares)	5,231,572		5,231,572		5,237,413
Warrant, exercise price (in dollars per share)	$ 24.39		$ 24.39
Number of warrants exercised during period (in shares)	10,513	0	10,513	0
Proceeds from exercises of stock options and stock warrants	$ 0.1		$ 0.1
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
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
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense	$ 18.6		$ 18.6
Share-based payment arrangement, period for recognition			2 years
ESPP shares issued during period (in shares)			200,887
Nonvested balance (in shares)	1,010,802		1,010,802		517,135
RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			1 year
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			3 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			3 years
Unrecognized stock based compensation expense	$ 19		$ 19
Share-based payment arrangement, period for recognition			2 years 1 month 6 days
Shares of entitled common stock (in shares)			1.5
Award vesting period			3 years
Nonvested balance (in shares)	1,130,779		1,130,779		473,371
PSUs \| Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested balance (in shares)	452,316		452,316
PSUs \| Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested balance (in shares)	678,463		678,463
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, period for recognition			8 months 12 days
Stock options expected to vest (in shares)	671,595		671,595
Stock options expected to vest, weighted average grant-date fair value (in dollars per share)	$ 13.09		$ 13.09
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP shares issued during period (in shares)			189,837	155,486,000

Stock-Based Compensation and _6

Stock-Based Compensation and Stockholders' Equity - Schedule of Nonvested Units Activity (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested beginning balance (in shares) \| shares	517,135
Granted (in shares) \| shares	709,175
Vested (in shares) \| shares	(199,997)
Forfeited (in shares) \| shares	(15,511)
Nonvested ending balance (in shares) \| shares	1,010,802
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value beginning balance (in dollars per share) \| $ / shares	$ 25.93
Granted, Weighted average grant date fair value (in dollars per share) \| $ / shares	19.58
Vested, Weighted average grant date fair value (in dollars per share) \| $ / shares	23.72
Forfeited, Weighted average grant date fair value (in dollars per share) \| $ / shares	24.30
Weighted average grant date fair value ending balance (in dollars per share) \| $ / shares	$ 21.55
PSUs
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested beginning balance (in shares) \| shares	473,371
Granted (in shares) \| shares	657,408
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Nonvested ending balance (in shares) \| shares	1,130,779
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value beginning balance (in dollars per share) \| $ / shares	$ 26.76
Granted, Weighted average grant date fair value (in dollars per share) \| $ / shares	21.46
Vested, Weighted average grant date fair value (in dollars per share) \| $ / shares	0
Forfeited, Weighted average grant date fair value (in dollars per share) \| $ / shares	0
Weighted average grant date fair value ending balance (in dollars per share) \| $ / shares	$ 23.68

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic net income per share:
Net income	$ 15,978	$ 58,002	$ 25,292	$ 91,513
Weighted-average common shares outstanding during period (in shares)	34,575,338	34,250,706	34,625,561	34,205,593
Basic net income per share (in dollars per share)	$ 0.46	$ 1.69	$ 0.73	$ 2.68
Diluted net income per share:
Net income	$ 15,978	$ 58,002	$ 25,292	$ 91,513
Basic shares outstanding during the period (in shares)	34,575,338	34,250,706	34,625,561	34,205,593
Plus: Common stock equivalents associated with stock-based compensation (in shares)	2,287,957	1,887,283	2,331,372	2,842,494
Diluted shares outstanding (in shares)	36,863,295	36,137,989	36,956,933	37,048,087
Diluted net income per share (in dollars per share)	$ 0.43	$ 1.61	$ 0.68	$ 2.47

Earnings per Share - Computatio

Earnings per Share - Computation of Diluted Shares Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
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)	339,173	525,735	328,207	262,868
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)	284,025	473,371	284,025	236,686
ESPP
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)	105,559		76,846	16,546
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)	5,231,572		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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	(27.30%)	27.70%	4.10%	25.80%
Unrecognized tax benefits	$ 16.7		$ 16.7		$ 21.4
Penalties and interest expense			7.9		$ 11.7
Unrecognized tax benefits that would impact effective tax rate	$ 15.6		$ 15.6

Contingent Liabilities (Details

Contingent Liabilities (Details) $ in Millions	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2018 petition case
Loss Contingencies [Line Items]
Number of petitions filed \| petition			3
Number of cases consolidated by court \| case			3
YP Acquisition
Loss Contingencies [Line Items]
Value of escrowed stock		$ 26.5
IRS
Loss Contingencies [Line Items]
Uncertain tax position liability	$ 8.9
IRS \| Section 199 Tax Case
Loss Contingencies [Line Items]
Reserve in connection with disallowance	25.1	(34)
Amount to be paid before allowance of tax credit	8	8
IRS \| Research and Development Tax Case
Loss Contingencies [Line Items]
Reserve in connection with disallowance	$ 0.1	$ 0.1

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 382,267	$ 314,715
Ending balance	404,326	411,614
Foreign currency translation adjustment, tax	(1,100)	3,900
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(16,261)	(8,047)
Foreign currency translation adjustment, net of tax expense of $1.1 million and $3.9 million, respectively	(2,490)	(4,691)
Ending balance	$ (18,751)	$ (12,738)

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	4
Number of reportable segments	4

Segment Information - Segment O

Segment Information - Segment Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 251,421	$ 333,995	$ 496,976	$ 642,370
Segment Gross Profit	160,085	227,982	314,893	425,838
Segment Adjusted EBITDA	69,439	116,000	127,908	199,717
Marketing Services
Segment Reporting Information [Line Items]
Revenue	137,684	222,570	284,984	435,103
Segment Gross Profit	88,023	151,774	181,197	288,284
Segment Adjusted EBITDA	38,233	83,674	79,497	150,069
SaaS
Segment Reporting Information [Line Items]
Revenue	60,150	51,167	118,277	98,510
Segment Gross Profit	37,563	32,092	73,523	61,501
Segment Adjusted EBITDA	7,123	197	8,245	(4,167)
Marketing Services
Segment Reporting Information [Line Items]
Revenue	51,279	59,218	89,605	106,882
Segment Gross Profit	32,852	43,627	57,332	75,343
Segment Adjusted EBITDA	24,976	34,545	42,385	58,642
SaaS
Segment Reporting Information [Line Items]
Revenue	2,308	1,040	4,110	1,875
Segment Gross Profit	1,647	489	2,841	710
Segment Adjusted EBITDA	$ (893)	$ (2,416)	$ (2,219)	$ (4,827)

Segment Information - Segment R

Segment Information - Segment Reconciliation of Operating Income to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting [Abstract]
Income before income tax expense	$ 12,550	$ 80,202	$ 26,360	$ 123,334
Interest expense	16,292	14,652	32,780	29,519
Depreciation and amortization	15,667	20,592	31,098	42,561
Stock-based compensation expense	5,798	3,810	11,191	5,738
Restructuring and integration expenses	3,921	4,822	9,261	10,649
Transaction costs	0	1,616	373	3,336
Other components of net periodic pension cost (benefit)	1,865	(9,153)	1,986	(9,223)
Non-cash loss (gain) from remeasurement of indemnification asset	11,490	(487)	10,734	(887)
Impairment charges	0	222	0	222
Other	1,856	(276)	4,125	(5,532)
Total Segment Adjusted EBITDA	$ 69,439	$ 116,000	$ 127,908	$ 199,717

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 251,421	$ 333,995	$ 496,976	$ 642,370
Total Thryv U.S.
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	197,834	273,737	403,261	533,613
Total Thryv International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	53,587	60,258	93,715	108,757
Marketing Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	137,684	222,570	284,984	435,103
Marketing Services \| Print
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	56,312	104,264	115,566	202,170
Marketing Services \| Digital
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	81,372	118,306	169,418	232,933
SaaS
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	60,150	51,167	118,277	98,510
Marketing Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	51,279	59,218	89,605	106,882
Marketing Services \| Print
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	30,182	34,907	48,294	56,407
Marketing Services \| Digital
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	21,097	24,311	41,311	50,475
SaaS
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 2,308	$ 1,040	$ 4,110	$ 1,875