In a challenging economic climate, THRY, the stock symbol for Dex Media Inc, has reached its 52-week low, trading at $15.01. This price point marks a significant moment for the company, reflecting the volatility and pressures faced by the industry over the past year. Despite the downturn, Dex Media Inc has experienced a 1-year change showing a 5.22% increase, indicating resilience and potential for recovery as market conditions evolve. Investors are closely monitoring the stock's performance for signs of stabilization or further fluctuations in the coming weeks.
In other recent news, Thryv Holdings is set to acquire Keap, a company specializing in customer relationship management and marketing automation, in an $80 million deal. The acquisition, expected to close in the fourth quarter of 2024, will be funded through equity financing and borrowings under Thryv's existing credit facility. Keap, with its significant footprint in North America, Europe, and Australia, reported approximately $85 million in revenue in the trailing twelve months through June 30, 2024.
Thryv also recently announced a public offering of $75 million in common stock to partially fund the acquisition of Keap. Craig-Hallum has given Thryv a Buy rating, citing a promising growth story within the company's Software as a Service (SaaS) segment.
In the second quarter of 2024, Thryv reported a robust 25% year-over-year increase in SaaS revenue, reaching $77.8 million, and a 60% year-over-year increase in adjusted SaaS EBITDA, reaching $10 million. It is predicted that Thryv's SaaS revenue will represent over 40% of their consolidated revenues in 2024 and more than 50% in 2025. These are recent developments in Thryv Holdings.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on THRY's current position and future prospects. Despite trading near its 52-week low, the stock has shown a significant return over the last week, with a 1-week price total return of 8.52%. This short-term uptick suggests a potential rebound from its recent lows.
InvestingPro Tips highlight that THRY has a high shareholder yield and has delivered a high return over the last decade, indicating long-term value creation for investors. However, the company is not currently profitable over the last twelve months, with a negative P/E ratio of -11.32. On a positive note, analysts predict that the company will return to profitability this year.
The company's financial health appears stable, with liquid assets exceeding short-term obligations. This liquidity position could provide a buffer as THRY navigates current market challenges. However, with revenue of $877.69 million in the last twelve months and a revenue decline of 16.96%, the company faces headwinds in its growth trajectory.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for THRY, providing a deeper understanding of the company's financial position and market outlook.
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