NASDAQ: THRY

SaaS

Thryv’s SaaS segment consists of a unified marketing platform that combines customer relationship management (“CRM”), marketing execution, automation, communications, payments, and reporting into a single system. The platform is modular by design, allowing customers to adopt core capabilities and extend functionality as their needs evolve.

The platform incorporates Keap’s CRM and automation engine with Thryv’s marketing, communication, payment, and reporting capabilities. Rather than operating as standalone products, these capabilities are connected and function as integrated components of a single platform.

Revenue in the SaaS segment is generated through subscription plans, platform extensions, payment solutions, and professional services (collectively referred to as our “SaaS solutions”). Customers may expand their usage of the SaaS solutions over time through purchasing additional features and expanding capacity.

Our subscription offerings are sold on a recurring basis and are designed to scale with the growth and complexity of our customers’ businesses. Additionally, the Company has expanded its approach for certain SaaS offerings by introducing a performance-based model, in which clients' fees are based on the volume of inquiries generated by the Company's services.

Core Platform Capabilities

The Thryv Platform delivers a set of core capabilities that support the full SMB customer lifecycle, including:

• Marketing execution, including social media management, across digital channels;

• Customer data and relationship management;

• Workflow automation and customer communications;

• Payments, invoicing, and revenue tracking; and

• Embedded reporting and performance insights.

These capabilities are delivered through a unified interface and are designed to work together, enabling SMBs to seamlessly transition from customer acquisition to engagement, conversion, and retention.

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Our core platform offerings include Thryv Marketing Center and Keap®.

Thryv Marketing Center includes everything an SMB owner needs to effectively market and grow their business, including easy to understand, AI-driven analytics and lead attribution that help them understand which marketing efforts are delivering results. Thryv Marketing Center offers the following:

•AutoID. Marketing Center connects prospects’ and customers’ digital interactions with the business and synchronizes these activities with the Thryv CRM records. This enables device-level attribution, giving Thryv’s users clear insight into when and where a client found them for proper attribution of what works and what doesn’t.

•Enhanced Online Presence. Marketing Center includes paid profiles on YP.com, Yelp.com, and other partner sites, as well as a robust Google Business Profile Optimization service. This ensures that the SMB's most viewed online profiles stand out from the competition, get noticed, and drive results.

•Marketing Tools. Marketing Center includes additional marketing tools to help users optimize their online marketing efforts. These include a robust heat mapping tool to optimize and improve their website and landing pages based on visitor behavior and off-line call tracking to track the efficacy of offline media efforts such as lawn signs or post cards. Marketing Center also includes a robust competitor watch to track the digital advertising activities of competitors, providing valuable insights and helping users gain a competitive advantage when run in conjunction with paid campaigns. Additionally, Marketing Center's social media management tools generate content tailored for each social media platform and allow an SMB to share content instantly across their channels. SMBs can also plan and schedule social media posts in advance using Marketing Center's scheduling software.

Keap® is our CRM and automation engine that helps SMBs efficiently grow by automating repetitive tasks, campaigns, and processes, using automation tools and AI. Keap offers the following:

•CRM. Manage contacts, notes, tags, and custom fields—all in one place.

•Sales and Marketing Automations. Streamline repetitive tasks such as lead follow-up, re-engagement campaigns, and gathering customer reviews using Keap's Automation Builder.

•Sales Pipelines. Organize and manage leads with a drag-and-drop interface that triggers emails, quotes, and invoices as leads progress through the pipeline.

•Keap Business Line. Keep business and personal communications separate with a business phone line that works on personal smartphones.

•Text Messaging. Send 1:1 texts or broadcast messages to a customer base with ease.

•Payments and Invoicing. Convert quotes to invoices in just a few clicks and add “pay now” buttons to emails and texts for faster payments.

•Landing Pages. Create and test new sales offers with landing pages in minutes—no website needed.

•Email Marketing. Send customized newsletters, broadcasts, or 1:1 emails, scheduled or triggered by customer behavior.

Extensions

The Thryv Platform supports extensions and integrations that allow customers to tailor the platform to their specific business needs. Our extension offerings include Thryv Leads®, growth packages, search engine optimization (“SEO”) tools, and website creation and management tools. These optional platform add-ons provide a seamless user experience and drive higher engagement within the Thryv Platform while also producing incremental revenue growth.

Payment Solutions

ThryvPay® and KeapPay are our own branded payment solutions that allow users to get paid via credit card and ACH and are tailored to service-based businesses that want to provide consumers with safe, contactless, and fast online payment options. These payment solutions are available to any user of the Thryv Platform and offer the following:

•Competitive Credit Card Processing Rates. Offers a flat rate per transaction with no set-up fees.

•ACH Payments Processing. Small businesses save money on a per-transaction charge.

•Scheduled Payments. Service-based businesses that offer ongoing services or memberships can utilize our scheduled payments feature. Our payment solutions also allow customized installment plans for pre-set specific dates.

•Convenience Fees, Surcharges and Tipping. SMBs can pass on optional convenience fees and/or surcharges, where allowed, for consumers who want to pay by credit card when presented with multiple payment options. These

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optional fees often drive customers to pay by ACH methods, which generates significant savings for SMBs. Our payment solutions also allow consumers to leave a tip.

•Credit Card and Bank Account on File. Consumer information is stored in the SMBs' account for future transactions, reducing friction for repeat business.

•Real-time Reporting and Assistance. Our payment solutions integrate and auto-sync with QuickBooks Online, QuickBooks Desktop, MYOB, Freshbooks, and Xero for accounting reconciliation. Thryv provides dedicated support for dispute and chargeback assistance.

•Consumer Financing. Our payment solutions include a fully integrated partnership with Wisetack, a consumer lending platform that specializes in service-based lending. This enables consumers of Thryv’s clients to apply for and pay their service providers utilizing financing. Thryv clients enjoy additional revenue by enabling larger purchases with additional convenience.

Supporting Software Solutions

Our supporting software offerings, including Thryv Business Center, seamlessly integrate with our core platform offerings, providing customers with enhanced functionality and additional features.Thryv Business Center is designed to allow an SMB everything necessary to streamline day-to-day business operations, including CRM, appointment scheduling, estimate and invoice creation, and payments. Business Center and Marketing Center work together to generate new business via Marketing Center and have these business opportunities automatically injected into their CRM system. These new business leads populate the client’s CRM database enabling our clients to email, text, call, or otherwise communicate with prospective customers via our Thryv Platform.

Professional Services

We offer implementation, training, and consulting services to help customers maximize value from our platform, including onboarding and implementation, a year-one Customer Success Manager, and Thryv Success Services which includes listing refresh services, strategic content creation, and ongoing strategic consulting.

Artificial Intelligence

Artificial intelligence is a cross-platform capability embedded throughout the Thryv Platform. AI is used to simplify complex workflows, generate marketing and communications content, surface performance insights, and guide users toward actions that improve business outcomes.

Rather than existing as isolated features, AI functions as an enabling layer across automation, reporting, marketing execution, and customer engagement, reducing time-to-value and lowering operational complexity for SMBs.

Ecosystem

We continue to expand our partner and integration ecosystem to extend our Thryv Platform's functionality and support industry-specific and use-case-specific solutions.

Marketing Services

Our Marketing Services segment provides legacy print and digital marketing solutions. During the year ended December 31, 2024, we made a strategic decision to terminate our Marketing Services offerings by the end of 2028. We are actively managing this segment to maximize cash flow and profitability during the transition period, while limiting incremental investment. The final publication of printed directories is expected to occur in December 2028, with billing and collection extending beyond that date. While Marketing Services offerings are no longer a strategic growth focus of the Company, our Marketing Services clients continue to serve as a source of customer relationships that can be transitioned to the Thryv Platform over time.

Our primary Marketing Services offerings include:

Print

•Print Yellow and White Pages. Our print marketing solutions (“Print”) include our owned and operated Print Yellow Pages (“PYP”), which carry “The Real Yellow Pages” tagline in the U.S. Domestically, we primarily publish PYP titles on an 18 to 24-month publication cycle, with the majority on a 24-month publication cycle. Internationally, we publish PYP and Print White Page titles on a 12 to 18-month

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publication cycle in Australia, and an 18-month publication cycle in New Zealand. We generate revenue by charging for advertisements placed within these titles. In 2025, domestically, we delivered approximately 21 million PYP directories to strategically targeted American homes whose demographics indicate a higher propensity to use print marketing solutions.

Digital

•Internet Yellow Pages. Our digital marketing solutions (“Digital”) include our proprietary Internet Yellow Pages (“IYPs”) and Extended Search Solutions (“ESS”) in the U.S. and internationally. We generate IYP revenue by charging for advertisements and priority placement. We also offer ESS enabling SMBs to buy advertising on our network of owned and third-party directory websites, including Yelp, Nextdoor, and other popular sites. Our ESS network provides SMB clients with expanded access to high-converting traffic at a low cost. We believe we are the only provider to offer this broad network of online directory sites with a single purchase.

•Search Engine Marketing and Other Digital Media Solutions. Search engine marketing (“SEM”) solutions deliver business leads from major engines and directories leveraging a mix of in-house and off-the-shelf technology to design ads, generate bids, and deliver reporting to advertisers. We track cost-per-click and cost-per-call metrics for our SMB clients, which gives them insights into the effectiveness of their ad campaigns. Other digital media solutions include online display and social advertising, online presence, and SEO tools.

We are continuing to transition clients with these Digital marketing services products to our SaaS Platform offerings.

Transition of Digital Marketing Services Clients to the Thryv Platform

During the fourth quarter of 2023, we made a strategic decision to accelerate the transition of clients with Digital marketing services solutions to our Thryv Platform by converting certain Marketing Services products to the Thryv Platform through upgrades initiated for clients by Thryv outside of the sales process at no additional base cost at the time of upgrade.

During 2025, we converted approximately 12,000 clients with Digital marketing services products to our Thryv Platform who were not already SaaS clients at the time of conversion. As of December 31, 2025, approximately 9,000 of these clients remained as active SaaS clients. The conversion of these Marketing Services clients increased SaaS revenue by $9.4 million for the year ended December 31, 2025.

Additionally, during 2025, we converted Digital marketing services products to our Thryv Platform for approximately 10,000 clients who already had at least one SaaS product in our Thryv Platform at the time of conversion. The conversion of these Marketing Services clients increased SaaS revenue by $11.0 million during the year ended December 31, 2025.

The conversion of Marketing Services products for clients who were not already SaaS clients at the time of conversion decreases the number of clients in the Marketing Services segment and increases the number of clients in the SaaS segment. The conversion of products for Marketing Services clients (whether or not those clients had SaaS solutions prior to the conversion) decreases the revenue of the Marketing Services segment and increases the revenue of the SaaS segment. While we believe these clients are receiving a valuable upgrade to our Thryv Platform and will be more likely to subscribe for additional features of the Thryv Platform in the future, the conversion of these clients outside of the sales process could result in these clients cancelling their services with us (known as “churn”) at a materially higher rate than the other clients in our SaaS segment. During 2025, the churn of clients converted from our Digital marketing services solutions was in line with the churn from the other clients in our SaaS segment.

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Our Strategy

Fully Transition into SaaS by 2028

We made the strategic decision to exit the Marketing Services business entirely by the end of 2028. This decision aligns with our long-term vision to fully transition into a SaaS-driven business model. The final publication of printed directories will occur in December 2028, with the billing collection period extending 24 months thereafter. Leading up to this exit, we have implemented significant operational improvements, including optimizing book formatting, streamlining ad pricing strategies, and extending phone directory contract periods to improve billing cycles and reduce publication costs. These measures are intended to support client retention and maximize value during this transitional phase.

As of December 31, 2025, we had approximately 171,000 Marketing Services clients. Our Marketing Services client base continues to serve as an important strategic client acquisition channel for SaaS, enabling low-cost client acquisition and providing significant potential for higher lifetime client value, particularly as we exit the Marketing Services business. This is accomplished through targeted engagement by our sales team, and by strategically converting selected legacy clients outside the sales process by initiating upgrades from Marketing Services products to SaaS solutions at no additional base cost at the time of upgrade. Additionally, we leverage our sales team to engage upgraded clients with their new services, thereby improving clients' operational capabilities, integrate them in Thryv's SaaS platform more quickly and at a lower transition cost to the company per client, increase customer value, and create opportunities to sell them additional SaaS products in the future.

In our SaaS business, we remain steadfast in our commitment to advancing the Thryv Platform as a catalyst for transformative growth. Through rigorous analysis of user behavior and client feedback, we continually refine and expand our feature set to address the evolving needs of our customer base. Each year, our product and engineering teams deliver strategic platform enhancements, fostering improved functionality, deepening interoperability with cloud-based tools, and unlocking revenue opportunities. These initiatives not only fuel annual recurring revenue growth but also solidify our standing as the premier provider of integrated cloud-based solutions for SMBs, driving sustainable long-term value creation.

Platform Unification and Product Investment

We are prioritizing product development and platform unification efforts that deepen integration across CRM, automation, marketing, communications, payments, and reporting. These investments are intended to improve customer engagement, reduce complexity, and accelerate time-to-value.

Go-to-Market and Customer Growth

We utilize a hybrid go-to-market approach that includes direct sales, partners, and self-service acquisition. Our strategy emphasizes increasing lifetime customer value through expanded platform adoption, automation, and payments, while improving customer retention through improved outcomes and usability.

We reach our clients utilizing a multi-channel sales approach that allows us to meet market demand through an extensive inside and outside sales force, channel partners, and targeted digital campaigns. Our nationwide field sales force allows us to have local and virtual interactions with SMB clients, which differentiates us from our competitors.

Leverage Our Nationwide Scale and Extensive Sales Force

We have one of the largest SMB-focused sales forces in the U.S. within the SaaS and marketing solutions space, which we utilize to attract, upsell, and manage our clients. We leverage our sales force to introduce and expand our SaaS solutions to new prospects and existing Marketing Services clients and converted SaaS clients through in-person, local, virtual, and online meetings. SMB demand for SaaS solutions continues to grow as SMBs increase their remote working capabilities and contact-less customer interactions.

Actively Manage Shift in Marketing Services Revenue Mix to Maintain Profitability

We continue to manage our Marketing Services offerings, some of which are in secular decline, notably Print, to maximize profitability and extend the life of these solutions through the end of 2028. During the year ended December 31, 2024, we made the strategic decision to terminate our Marketing Services solutions by the end of 2028. Our cost management strategy includes using third-party printers and cost-effective long-term paper, printing, and directory distribution contracts.

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Continued Cash Flow Generation and Selected Capital Allocation

We remain highly focused on methodically managing our assets, maintaining a highly variable cost structure, and building our SaaS business in a way to generate significant cash flow. We believe that our cash flow generation and strategic capital allocation will enable us to continue to reduce debt and pursue acquisitions to create value for our stockholders. We will continue to employ a disciplined financial policy that maintains our financial strength and favorable cost structure.

Additionally, as part of our transition to a SaaS-driven business model, we are directing capital and operating investment toward SaaS product development and go-to-market execution while deliberately limiting incremental investment in Marketing Services. This approach is intended to support cash flow generation, debt reduction, and selective acquisitions aligned with our platform strategy.

Opportunistic Acquisitions to Drive Synergy

The Company has experience executing accretive acquisitions. We believe we are well-positioned to continue this strategy to leverage our platform and scale in our industry. Historically, as a result of our acquisitions, including the October 2024 acquisition of Keap, we have realized significant cost synergies and obtained new clients that also bought our SaaS solutions.

International Growth

We continue to expand into international markets, which we view as a large opportunity for growth. We intend to penetrate international markets through acquisition, re-seller agreements, or other commercial arrangements. For example, in 2024, the acquisition of Keap resulted in additional international growth.

Vertical Solutions

In 2025, we announced Thryv for HVAC, a SaaS solution tailored specifically to heating, ventilation, and air conditioning (“HVAC”) businesses. This solution was developed in collaboration with HVAC professionals to address the unique challenges contractors face in marketing, lead conversion, and customer retention.

We believe that industry specific solutions can help continue to position our products as industry-leading, providing specially tailored solutions to SMBs within a vertical. We will continue to explore specialized solutions for verticals we believe we can serve.

Our Competition

Our industry is highly fragmented, intensely competitive, and constantly evolving. With the introduction of new technologies and market entrants, we expect the competitive environment to remain intense going forward. We believe the principal competitive factors in our segments are the following:

•customized, integrated, and tailored solution strategies;

•flexible technology that is compatible with third-party applications and data sources;

•quality;

•pricing;

•ease of use;

•brand recognition and word-of-mouth referrals;

•availability of onboarding programs and customer support; and

•nationwide and extensive, inside and outside sales forces.

We believe we compete favorably with respect to all these factors and that we are well-positioned as a leading provider of marketing solutions and cloud-based end-to-end customer experience tools to SMBs across the United States.

We derive a competitive advantage from our industry experience, sizable sales force, and our Thryv Platform. Existing and potential SMBs have choices when selecting SaaS solutions. Numerous niche cloud-based tools are available for SMBs to self-provision online, and other providers market competing end-to-end solutions. Because the cost of entry into the SaaS space is relatively low, new entrants continue to emerge. Although we believe many of these solutions lack a comprehensive set of features and offer less onboarding and customer support, SMBs may opt for less expensive solutions or a package of solutions provided by less experienced entrants at a lower cost.

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We face competition from other companies that provide marketing solutions and cloud-based SaaS tools to SMBs.

SaaS Competitors

In our SaaS business, we believe we compete with three general categories of competitors:

•Point Solution Providers. We compete with single-point solution providers across many features. Many of these products are low-cost and some have been in the market longer than Thryv.

•Vertical Solutions. Vertical solutions exist in many categories, including Home Services, Health & Wellness, Animal Services, Professional Services and Educational Services. Competitors have studied these categories and customized their products for the applicable category. These companies offer a tailored solution with a targeted appeal. Some also have consumer-facing apps that create demand for the SMB.

•All-In-One Competitors. Our most direct competitors are other all-in-one solutions. Several are priced above our price point or target larger companies with more employees.

Marketing Services Competitors

In our Marketing Services business, we compete with numerous national companies that sell marketing campaigns on major national search engines and social media sites and build and host websites.

Human Capital

Our key human capital management objectives are to attract the right talent, develop potential future and current talent for leadership positions, retain high performers and reward employees through competitive pay and employee benefits. We support these objectives with employee experience and culture initiatives aimed at making the workplace diverse, engaging and inclusive, while providing growth opportunities, internal leadership programs and diversity programs. In addition, we consistently monitor employee engagement through employee engagement studies and monthly surveys.

As of December 31, 2025, we had 2,729 employees. Our workforce is comprised of approximately 99% full-time and 1% part-time employees. The majority of our employees are in Outside and Inside Sales, Inbound Sales and Sales Operations, Client Experience, Operations, Information Technology, Client Care and Billing and Print Directories departments.

Some examples of our key programs and initiatives intended to attract, develop and retain our diverse workforce include:

•Inclusion. The Company offers a platform for our employees to communicate with leadership – to share insights, generate ideas, and drive actions that promote inclusion at Thryv. The Company organizes and sponsors events to celebrate inclusion, educate and raise awareness, and create opportunities for networking and mentorship across the Company's workforce.

•Ready.Set.Thryv! (“RST”). A global program called “Ready.Set.Thryv!” was recently launched to enhance the onboarding experience for all new hires. This program kicks off new hires’ experience with two partial days of valuable information to “immerse” the new hires in our company culture and support their acclimation to Thryv. During the first Monday and Tuesday of their experience, we share Thryv’s company history, our robust culture, wide variety of company programs, product learning, expert tips on successful remote work, learning and development opportunities, inclusion efforts, introduction to our executive team and more. RST supports a consistent approach to orientation for all new hires around the globe.

•Trailblazers Program. After piloting a mentorship program called “Trailblazers” in 2024, we fully implemented the program in 2025. Trailblazers pairs Explorers (mentees) with Pathfinders (mentors) to facilitate networking, development, and support for employee growth across the Company. In 2025, more than 200 employees from around the world voluntarily participated. The program received positive feedback and, due to its success, will continue into 2026.

•Accelerators Recognition Program. This program is designed to strengthen connections and recognize top performers who demonstrate our core values in their excellent performance. Over the past five years of this program, over 600 employees have been recognized for their excellent demonstration of our core values outlined below:

•Client Devoted

•DONE3

•Act Like You Own the Place

•Invest in Our People

•Under Promise, Over Deliver

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•Making Money is a By-Product of Helping People

•Think Long-Term; Act with Passion and Integrity

•Benefits. Among our benefit offerings, Personify wellness programming has become a key motivator of good health and well-being. It is a user-friendly platform that encourages well-being, safety and performance, by providing friendly team-based competitions, self-directed wellness journeys and incentives to build healthy habits and drive collaboration across Thryv. With 79% of employees enrolled on the platform and 62% of those enrolled actively engaged, the digital well-being platform has contributed meaningfully to our Work From Anywhere approach while creating connections and supporting a healthy lifestyle among our employees.

•Talent Development. We prioritize and invest in creating opportunities to help employees grow and build their careers through training and development programs. These include online and on-the-job learning formats.

•Our Emerging Leaders Program is designed to help identify and develop future leaders. Once identified, Emerging Leaders are provided focused leadership and management skill development programs – instructor-led, online and on-the-job. In 2025, 19 employees successfully completed the Emerging Leader program. Company-wide, we awarded 359 promotions, 35 of which were individual contributors moving to management roles. The program continues into 2026 as we continue to positively support career growth while building a bench of leadership candidates.

•Our New Manager Training Program is provided to newly promoted managers to develop and enhance their soft skills in people management. This program aims to set up newly promoted managers for success while developing a network of colleagues to draw support and counsel.

•The Mindful Manager Program is designed to provide leaders with the opportunity to invest in their own development through quarterly online coursework. Courses are focused on elevated employee matters such as Leading with Emotional Intelligence, Mastering the Art of Listening, and Navigating Cross-Cultural Differences. Following completion of the coursework, leaders are invited to attend a Leadership Roundtable to discuss the assigned content and share learnings.

•The Career Development Employee Investment Program (“CDEIP”). Formerly known as the Tuition Assistance Program, CDEIP supports the lifelong learning of all employees. Through a generous reimbursement program, we encourage employees to seek continuous education and personal development to support their career aspirations while contributing to Thryv’s collective growth and success. Eligible coursework may be aimed at the achievement of an Associate’s, Bachelor's or Master’s degree or may be specialized in various certificate/certification programs. In 2023, we began offering language learning resources through Berlitz across all parts of the business.

•Culture Team. “Invest in Our People” is one of our core values, which we support with various initiatives.

•Our Thryv Life Channel (facilitated by Microsoft Teams) serves as our internal social media platform. The platform provides a vehicle to highlight personal and professional successes, share inspirational stories, publicize social opportunities, run “fun” employee-centric virtual events and generally connect our people. Engagement is high and continues to enhance the promotion of core values and relationship-building as we continually learn and grow in a Work From Anywhere environment.

•Learning Opportunities. To ensure we provide learning opportunities that enable us to adapt, belong and connect, we launched monthly “Lunch and Learn” sessions featuring a wide variety of employee-centric topics such as building one’s personal brand, communication skills, and other specific skill-building subjects.

•Culture Clubs are designed to purposefully drive connection and relationship-building across diverse work teams and individuals. Recognizing that the virtual workplace can be challenging for new relationship-building, the Culture Clubs offer meaningful opportunities to a broad group of employees to identify and join groups of colleagues with similar hobbies and interests.

•Virtual Onboarding. We are focused on virtually onboarding new employees through an enhanced virtual onboarding program. Video engagements, networking, a buddy program and social interactions are all included in properly onboarding a virtual employee while weaving core values and key job learnings into the programming.

•Cheers for Peers is a newly launched app within Thryv Life Channel. It is designed to encourage organic recognition among employees at all levels and across all functions. This is one more supportive program to encourage relationship building, positive feedback to teammates and high employee engagement. Recognizing a job well done, no matter how big or small, is key to our team members’ job joy.

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Our Intellectual Property

The protection of our technology and intellectual property is an important component of our success. We rely on intellectual property laws, including trade secrets, copyright, patent, and trademark laws in the United States and abroad and use contracts, confidentiality procedures, non-disclosure agreements, employee disclosure and invention assignment agreements, and other contractual rights to protect our intellectual property. We possess certain intellectual property relating to Thryv®, Thryv Leads®, and our Marketing Services offerings, including but not limited to the following:

•trademark protection on brands, taglines, and products;

•proprietary roadmap and product stack with proprietary code;

•machine-learning algorithms and techniques;

•notice of allowance on a patent related to systems and methods underlying Thryv Leads, which processes include the coordination among our lead estimator tool, lead scoring systems, budget allocation systems, and the SMB’s CRM system;

•strategic alliances;

•branding via proprietary print and online assets; and

•copyright protections on work product.

We maintain a library of high-quality, proprietary communications, including:

•product features;

•customer FAQ's;

•our ideal client profile;

•website images and content;

•vertical industry templates and taxonomy;

•how-to-videos; and

•articles, blogs, and guides on using and competing with digital marketing.

In addition to the foregoing, we have established business procedures designed to maintain the confidentiality of our proprietary information, including the use of confidentiality agreements and assignment of inventions agreements with employees, independent contractors, consultants, and companies with which we conduct business.

The SaaS industry is characterized by the existence of a large number of patents and frequent claims and related litigation regarding patents and other intellectual property rights. In particular, leading companies in the technology industry have extensive patent portfolios. From time to time, third parties have asserted copyright, trademark, and other intellectual property rights against us or our clients. Litigation and associated expenses may be necessary to enforce our proprietary rights.

Our Use of Technology

Our Thryv Platform is comprised of unique integrations and solutions historically built by Thryv or built for Thryv, and to Thryv’s specifications. In 2025, we augmented the Thryv Platform with Keap Automations, which were developed by Keap. In addition, we integrate with select third-party vendors who are managed by our in-house product and development teams. Thryv has chosen to utilize best-in-class systems and tools to integrate them in unique ways that unlock value for the end customer. SaaS order processing and tracking, client engagement, client communications, and many other aspects of running the day-to-day SaaS business are performed using subscription-based third-party tools. When Thryv feels functionality is of strategic long-term importance, or it is not readily available in the marketplace, we leverage our internal engineering teams to create technology and innovation on top of the existing interoperable technology stack. We ensure that we retain intellectual property for the critical elements of the Thryv Platform.

In Marketing Services, our print directories are published using a customized platform supported by our in-house engineering team. Our IYPs are managed by our in-house engineering team using proprietary software that we build and maintain. Other Digital marketing services offerings are fulfilled in-house using third-party cloud-based software.

Government Regulation

We are subject to many U.S. federal and state and other foreign laws and regulations, including those related to privacy, data protection, content regulation, intellectual property, consumer protection, rights of publicity, health and safety, employment and labor and taxation.

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Compliance with government regulations, including environmental regulations, has not had and is not expected to have a material effect upon the capital expenditures, earnings, or competitive position of our company. However, these laws and regulations are constantly evolving and may be interpreted, applied, created, or amended in a manner that could harm our business. See “Risk Factors — Legal, Tax, Regulatory and Compliance Risks” for additional information.