Thryv Holdings, Inc. THRY

Competitive advantage analysis · communication-services

Software & SaaS Specialized
Overall moat score
46/100
Developing

About Thryv Holdings, Inc.

Thryv Holdings, Inc. provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States. It operates in two segments, Thryv Marketing Services and Thryv SaaS. The company provides print yellow pages, internet yellow pages, search engine marketing, and other digital media solutions, such as online display and social advertising, online presence and video, and search engine … Full THRY analysis →

Competitive advantage assessment

Key strengths

  • Asset-Light Returns Return profile is strong (score 0.67), supporting a capital-efficient model.
  • Consistent Subscription Growth Revenue consistency is strong (score 0.76), pointing to a sticky customer base.

Key risks

  • FCF Trend Is Softening FCF trend is weak (score 0.25), suggesting cash scalability is deteriorating.
  • Contracted Demand Looks Thin Contracted demand signal is weak (score 0.14), limiting evidence of strong subscription stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
55

Where THRY ranks in Internet Content & Information

Thryv Holdings, Inc. ranks #41 of 78 scored companies in Internet Content & Information by moat score — the top 53%. The widest moat in the group is Alphabet Inc. (GOOG) at 75/100.

Moat scores for companies ranked near THRY in Internet Content & Information
# Company Moat score Rating
37 Phoenix New Media Limited FENG 49/100 Developing
38 Zedge, Inc. ZDGE 48/100 Developing
39 DouYu International Holdings Li DOYU 48/100 Developing
40 IAC Inc. IAC 47/100 Developing
41 Thryv Holdings, Inc. THRY 46/100 Developing
42 The Beachbody Company, Inc. BODI 46/100 Developing
43 Nebius Group N.V. NBIS 45/100 Developing
44 comScore, Inc. SCOR 45/100 Developing
45 Trump Media & Technology Group DJT 45/100 Developing

See every Software & SaaS company ranked by moat score →

How THRY scores on the Software & SaaS Specialized defenses

Pricing Power

Score 55 · 20% of the moat score

In software, pricing power is visible in gross margin: a vendor that has to discount in order to renew gives it up first.

Recurring Revenue Stickiness

Score 42 · 18% of the moat score

Recurring revenue is the model's central claim, and it is a moat only when customers renew and expand without being re-sold each year.

Innovation Engine

Score 42 · 16% of the moat score

Software is competed away rather than depreciated, so a vendor that stops investing loses its category.

Cash Scalability

Score 39 · 18% of the moat score

The test of a software business is whether growth eventually stops consuming cash.

Capital Efficiency

Score 57 · 16% of the moat score

A software platform employs very little capital, so a genuine franchise should produce high returns on it without leverage.

Balance Sheet Resilience

Score 42 · 12% of the moat score

Software companies fund years of customer acquisition before those customers pay back, which makes access to capital a strategic variable rather than a treasury detail.

How each Software & SaaS Specialized defense is measured, in full →

Understanding THRY's moat

What is Thryv Holdings, Inc.'s moat score?

Thryv Holdings, Inc. (THRY) scores 46 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #41 of 78 scored companies in Internet Content & Information, the top 53%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 77 companies in Internet Content & Information. Its strongest defense is Capital Efficiency (57/100) and its weakest is Cash Scalability (39/100).

How does Thryv Holdings, Inc. compare with other Internet Content & Information companies?

Thryv Holdings, Inc. ranks #41 of 78 scored companies in Internet Content & Information by moat score. The widest moat in Internet Content & Information is Alphabet Inc. (GOOG) at 75/100. The companies ranked closest are IAC Inc. (IAC) at 47 just above it and The Beachbody Company, Inc. (BODI) at 46 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Software & SaaS Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 77 companies in Internet Content & Information. The defenses are then weighted to produce the overall score out of 100.

Why is Thryv Holdings, Inc. scored with the Software & SaaS Specialized template?

Software costs almost nothing to reproduce, so the entire economic question is whether customers keep paying. Revenue is a subscription rather than a sale, the cost of winning a customer is paid years before that customer becomes profitable, and margins arrive only if renewals hold. The Software & SaaS template scores retention, reinvestment, and the point at which growth turns into cash.

Which competitive defenses are measured for Thryv Holdings, Inc.?

The Software & SaaS Specialized template measures 6 defenses, and THRY scores: Pricing Power (55), Recurring Revenue Stickiness (42), Innovation Engine (42), Cash Scalability (39), Capital Efficiency (57), Balance Sheet Resilience (42). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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