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DALLAS - In a move aimed at bolstering support for small businesses, Thryv Holdings, Inc. (NASDAQ:THRY), an $846 million market cap small business software provider showing strong momentum with a 33% gain year-to-date, has announced a partnership with 1-800Accountant, a leading virtual accounting firm in the United States. According to InvestingPro data, the company has demonstrated remarkable recent performance, with its stock climbing over 6% in the past week alone. The collaboration is set to provide Thryv clients with a free Tax Savings Consultation, a service that could prove beneficial as businesses gear up for tax season.
The consultation, typically valued at $199, offers a 30-minute session with a tax expert specializing in small business needs. During the call, a business analysis is conducted, and the advantages of a proactive tax strategy are discussed. On average, 1-800Accountant’s experts have identified over $12,000 in annual tax savings for their clients. While Thryv’s revenue declined 9% in the last twelve months, InvestingPro analysts project a return to profitability this year, suggesting potential benefits from strategic partnerships like this one.
Tami Cannizzaro, Chief Marketing Officer of Thryv, highlighted the significance of this partnership, especially in light of the optimistic outlook many small businesses have for 2025. According to Thryv’s 2024 Small Business Index, half of the small businesses surveyed expect an increase in revenue in the first quarter of the year. Cannizzaro emphasized that accounting guidance is crucial for safeguarding profits and facilitating further investment in their businesses.
In a reciprocal arrangement, 1-800Accountant clients are given access to Thryv’s free online health assessment, which helps improve their online presence. Thryv’s software platform is designed to help small businesses expand efficiently through marketing, communications, data reporting, and customer relationship management (CRM) tools.
Joshua Popsie, Vice President of Marketing at 1-800Accountant, expressed enthusiasm for the partnership, noting the shift in optimism for 2025 and the potential benefits for small businesses in maximizing their online presence with Thryv while minimizing their tax liabilities through 1-800Accountant’s services.
The partnership between Thryv and 1-800Accountant reflects a shared mission to support small businesses by providing resources and tools necessary for growth, particularly in the financial and digital realms. This information is based on a press release statement. Based on InvestingPro’s Fair Value analysis, Thryv appears slightly overvalued at current levels. Investors seeking deeper insights can access over 10 additional ProTips and comprehensive financial metrics through InvestingPro’s detailed research report, which provides expert analysis on Thryv and 1,400+ other US stocks.
In other recent news, Thryv Holdings Inc. has been rated as a ’Buy’ by Needham & Company, following the company’s Analyst Day. The financial firm expressed heightened optimism about Thryv’s growth prospects and financial strategy, especially its customer penetration strategy, which is set to be enhanced by the introduction of two new Centers and the integration of Keap’s Automations.
Thryv has also forecasted a significant cumulative Free Cash Flow (FCF) of nearly $600 million through the fiscal year 2030. This projection is expected to serve as a substantial buffer against its current net debt of $290 million, effectively addressing prior concerns about the company’s balance sheet.
Needham & Company believes that with these balance sheet concerns now resolved and a clearer understanding of Thryv’s growth drivers, the stock is currently very appealing. The company’s valuation, approximately 2 times Software (ETR:SOWGn) as a Service (SaaS) revenues, is perceived as attractive for a firm with a profitable growth trajectory exceeding 20%. These are among the recent developments for Thryv Holdings.
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