DALLAS - Thryv Holdings, Inc. (NASDAQ:THRY), a provider of a small business software platform, has announced a stock repurchase program authorizing the buyback of up to $40 million of its outstanding common stock. The decision, made by the company's Board of Directors, allows for repurchases in the open market or through private transactions, potentially leveraging a Rule 10b5-1 trading plan.
The repurchase initiative is subject to market conditions, stock availability, the trading price, alternative capital uses, and Thryv's financial performance. The buybacks are set to comply with SEC Rule 10b-18 and other legal requirements.
Thryv has clarified that there is no obligation to repurchase any specific number of shares or to conduct repurchases within a set timeframe. The program can be altered, paused, or terminated at the company's discretion, and the repurchases will be funded using Thryv's available liquidity.
Thryv Holdings, recognized for its Thryv® software platform, aims to modernize small business operations, offering tools for communication, daily management, and growth opportunities. The platform is designed to save business owners up to 20 hours per week by centralizing various business functions.
The forward-looking statements included in the company's announcement are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Factors that may influence Thryv's performance include liquidity for operations, financial performance, the impact of acquisitions, and changes in technology and consumer preferences, among others.
Investors are cautioned against placing undue reliance on these forward-looking statements, which are qualified by these risks and are based on current expectations. Thryv does not commit to publicly updating any forward-looking statements, except as required by law.
This news article is based on a press release statement from Thryv Holdings, Inc.
InvestingPro Insights
Thryv Holdings, Inc. (NASDAQ:THRY) has recently made headlines with its announcement of a new stock repurchase program. Investors considering Thryv's latest move may find the following metrics and InvestingPro Tips particularly enlightening:
According to the latest data from InvestingPro, Thryv has a market capitalization of approximately $848.42 million, reflecting the company's size and market value. Despite a challenging period with a reported revenue decline of 23.74% over the last twelve months, Thryv's gross profit margin remains strong at 63.06%, indicating the company's ability to maintain profitability on its core services and products.
InvestingPro Tips suggest a mixed outlook for Thryv. While the company has not been profitable over the last twelve months, with a negative P/E ratio of -3.23, analysts are predicting that Thryv will return to profitability this year. Moreover, Thryv has experienced a significant price uptick of 36.48% over the last six months, possibly reflecting investor optimism about the company's future performance.
It is worth noting that Thryv is trading at a high Price / Book multiple of 5.56, which could suggest that the stock is relatively expensive compared to the company's book value. Furthermore, Thryv does not pay a dividend, which might be a consideration for income-focused investors. Still, with a high shareholder yield and a significant return over the last decade, Thryv may still appeal to growth-oriented investors.
For those interested in a deeper analysis, InvestingPro offers additional insights and tips on Thryv Holdings, Inc. To explore these further, visit https://www.investing.com/pro/THRY and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 7 additional InvestingPro Tips available, investors can gain a more comprehensive understanding of Thryv's financial health and market position.
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