Why Has Thryv (NASDAQ:THRY) Shed 22.76% Pre-Market on Tuesday After Q3?

Vinay Lochav

10 November 2026 11:43 PM AEDT

Why Has Thryv (NASDAQ:THRY) Shed 22.76% Pre-Market on Tuesday After Q3?

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Key Highlights

Thryv Holdings (NASDAQ:THRY) was quoted at USD 0.99 before the open on Tuesday, November 10, 2026, a decline of 22.76% from a calculated prior close of USD 1.28 after results were published on November 9.
Third-quarter Revenue from continuing operations dropped 13.5% to USD 118.9 million from USD 137.4 million, with SaaS revenue down 3.3% to USD 112.0 million and Marketing Services sliding 67.9% to USD 6.9 million.
A non-cash Goodwill Impairment of USD 94.8 million led to an operating loss of USD 110.3 million and a total net loss of USD 103.1 million, or USD 2.32 per diluted share.
Consolidated adjusted EBITDA came to USD 4.2 million versus negative USD 4.6 million, and cash was USD 8.8 million, with a USD 142.0 million print Business sale agreed.

What Moved Thryv Pre-Market (down 22.76%)

The Thryv Holdings (NASDAQ:THRY) indication of USD 0.99 is set against a calculated prior close of USD 1.28, a gap of about USD 0.29 per share. With 44,447,599 shares outstanding at September 30, 2026, calculated Market Value shrinks from about USD 57.0 million to about USD 44.0 million. The company published third-quarter results on November 9, 2026 and hosted its call at 4:30 p.m. ET. Gross Profit was USD 73.7 million, a 62.0% margin, versus USD 85.7 million. The operating loss reached USD 110.3 million compared with USD 25.2 million, and restructuring and integration costs were USD 4.2 million. The loss from continuing operations was USD 116.0 million, or USD 2.61 per share, against USD 24.9 million, or USD 0.57. Nine-month revenue came to USD 376.3 million, down 10.7%.

Why Thryv Fell: Impairment, Guidance and General Context

The catalyst identified is the third-quarter release. Fourth-quarter SaaS adjusted EBITDA is guided to negative USD 4.5 million to negative USD 5.5 million, and Marketing Services adjusted EBITDA to negative USD 11.0 million to negative USD 12.0 million. Full-year SaaS revenue is expected at USD 453.0 million to USD 454.0 million, with SaaS adjusted EBITDA of USD 16.5 million to USD 17.5 million. Goodwill fell to USD 159.0 million from USD 253.8 million at year-end 2025. On September 12, 2026 the company agreed to sell its print business to Coldwater YP for USD 142.0 million in cash, with closing anticipated in the fourth quarter, and it intends to exit Marketing Services by the end of 2028. For broader context, a large impairment together with a negative fourth-quarter outlook can weigh on a small cap even when part of the loss is non-cash.

Valuation, Liquidity and Risks for Thryv

Cash was USD 8.8 million, and calculated debt, combining the current and long-term term loans with the asset-based facility, was about USD 239.2 million. The agreed USD 142.0 million sale price is roughly 2.5 times the calculated prior-close market value, basic arithmetic on two published figures, though closing is not guaranteed. SaaS clients numbered 98 thousand, monthly ARPU was USD 373 and seasoned net revenue retention was 89%. Published coverage did not confirm a 52-week range, average Volume or pre-market volume, so none is given. The hazards are light pre-market volume, wide spreads, closing risk on the print sale, shrinking Marketing Services revenue and a Reversal after the 9:30 a.m. ET open. A price under USD 1.00 also brings up the general matter of exchange minimum bid rules, although no notice is reported here.

Where Things Stand

Thryv (NASDAQ:THRY) is down 22.76% pre-market on Tuesday, November 10, 2026, after a quarter featuring a USD 94.8 million goodwill impairment, a USD 103.1 million net loss and fourth-quarter SaaS adjusted EBITDA guided below zero. The USD 0.99 quote reflects light trading and may reverse at the open. The USD 142.0 million print sale, expected to close in the fourth quarter, is the largest swing Factor on the balance sheet.

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