Thryv Holdings, Inc. (THRY): Análisis PESTLE [Actualizado en enero de 2025]

En el panorama en rápida evolución de los servicios comerciales digitales, Thryv Holdings, Inc. (Thry) se encuentra en la encrucijada de la innovación tecnológica y el empoderamiento de las pequeñas empresas. A medida que las empresas navegan por ecosistemas digitales cada vez más complejos, el conjunto integral de soluciones de Thryv ofrece una narrativa convincente de adaptación y crecimiento estratégico. Este análisis de mano presenta los factores externos multifacéticos que dan forma a la trayectoria de la compañía, revelando una interacción matizada de dinámicas políticas, económicas, sociológicas, tecnológicas, legales y ambientales que determinarán su éxito futuro en el mercado digital competitivo.

Thryv Holdings, Inc. (Thry) - Análisis de mortero: factores políticos

Mercado de servicios digitales de pequeñas empresas de EE. UU. Terrapato político

El mercado de servicios digitales de EE. UU. Para pequeñas empresas está influenciado por varios factores políticos clave a partir de 2024:

Área de política política	Impacto en los servicios digitales	Valor económico estimado
Inversión en tecnología de pequeñas empresas	Soporte federal para la transformación digital	$ 4.2 mil millones asignados en 2024 Presupuesto federal
Política de infraestructura digital	Iniciativas de expansión de banda ancha	Programa de acceso e implementación de banda ancha de $ 42.5 mil millones (BEAD)

Cambios regulatorios en el marketing digital

Las modificaciones regulatorias potenciales que impactan el marketing digital y el software de gestión empresarial incluyen:

• Regulaciones de privacidad de datos mejoradas
• Requisitos de cumplimiento de ciberseguridad más estrictos
• Mayor transparencia en las prácticas publicitarias digitales

Apoyo gubernamental para la transformación digital

Las iniciativas gubernamentales que apoyan la transformación digital de pequeñas empresas incluyen:

Programa	Fondos	Sector objetivo
Subvención de aceleración digital de pequeñas empresas	$ 500 millones	Adopción de tecnología para las PYME
Programa de capacitación en habilidades digitales	$ 250 millones	Desarrollo de la fuerza laboral de pequeñas empresas

Incentivos fiscales para la innovación tecnológica

Panorama de incentivos fiscales actuales para proveedores de servicios digitales:

• Crédito fiscal de investigación y desarrollo: Hasta el 20% de los gastos de calificación
• Crédito fiscal de inversión para infraestructura tecnológica: deducción de 10-15%
• Subvenciones de innovación tecnológica a nivel estatal: promediando $ 75,000 por empresa calificada

Thryv Holdings, Inc. (Thry) - Análisis de mortero: factores económicos

Recuperación económica y crecimiento de las pequeñas empresas

Según la Administración de Pequeñas Empresas de EE. UU., Las pequeñas empresas representan el 99.9% de todas las empresas estadounidenses, con 33.3 millones de pequeñas empresas a partir de 2022. Los ingresos totales de Thryv para el tercer trimestre de 2023 fueron de $ 259.2 millones, lo que refleja la correlación directa con la dinámica del mercado de pequeñas empresas.

Indicador económico	Valor 2023	Impacto en Thryv
Contribución del PIB de pequeñas empresas	43.5%	Potencial de ingresos directos
Tasa de adopción digital de pequeñas empresas	62%	Expansión del mercado de servicios
THRYV GRIE INGRESOS	$ 1.04 mil millones	Rendimiento del mercado

Inflación y tasas de interés

Los datos de la Reserva Federal muestran una tasa de inflación del 3.4% en diciembre de 2023, con una tasa de fondos federales en 5.33%. Estas condiciones económicas influyen directamente en las estrategias de inversión de tecnología de pequeñas empresas.

Parámetro económico	Valor 2023	Impacto potencial
Tasa de inflación	3.4%	Ajustes potenciales del precio del servicio
Tasa de fondos federales	5.33%	Mayores costos de préstamos

Tendencia de transformación digital

Gartner Research indica que el gasto global de transformación digital alcanzó los $ 2.8 billones en 2023, con el segmento de pequeñas empresas que crecen en 17.5% anualmente.

Desaceleración económica potencial

El pronóstico económico de Goldman Sachs sugiere una desaceleración del crecimiento del PIB potencial a 1.2% en 2024, lo que podría afectar el gasto en tecnología de pequeñas empresas.

Proyección económica	Pronóstico 2024	Impacto potencial de thryv
Crecimiento del PIB	1.2%	Restricción de ingresos potenciales
Gasto de tecnología de pequeñas empresas	Reducción estimada: 5-7%	Presión de ingresos

Thryv Holdings, Inc. (Thry) - Análisis de mortero: factores sociales

Aumento de la alfabetización digital entre los propietarios de pequeñas empresas

Según la Administración de Pequeñas Empresas de EE. UU., El 51% de las pequeñas empresas utilizaron tecnologías digitales para operaciones comerciales en 2022. El mercado objetivo de ThryV muestra un aumento de 7.2% año tras año en la adopción de tecnología digital.

Año	Porcentaje de alfabetización digital	Tasa de adopción digital de pequeñas empresas
2021	43.8%	46.5%
2022	51%	53.7%
2023	58.3%	61.2%

Preferencia creciente por herramientas integradas de gestión empresarial digital

La investigación de mercado indica que el 68.4% de las pequeñas empresas buscan soluciones integradas de gestión digital. La plataforma de Thryv aborda esta demanda con un ecosistema integral de gestión empresarial.

Tamaño de negocio	Preferencia de herramienta integrada	Gasto anual en herramientas digitales
0-10 empleados	62.3%	$3,500
11-50 empleados	71.6%	$8,200
51-100 empleados	79.2%	$15,600

Tendencias de trabajo remoto que mejoran la demanda de soluciones comerciales basadas en la nube

Gartner informa que el 82% de las empresas planean mantener políticas laborales remotas en 2024. Las soluciones basadas en la nube como la plataforma de Thryv han visto un aumento del 45.3% en la adopción entre las pequeñas empresas.

Modelo de trabajo	Porcentaje de empresas	Adopción de soluciones en la nube
Completamente remoto	23%	38.6%
Híbrido	59%	52.7%
In situ	18%	22.4%

Cambio generacional hacia plataformas de gestión empresariales impulsadas por la tecnología

Los empresarios de los Millennials y Gen Z representan el 42.1% de la propiedad de las pequeñas empresas en 2023, impulsando la innovación tecnológica y las preferencias de la plataforma.

Generación	Porcentaje de propiedad de negocios	Tasa de adopción de tecnología
Baby boomers	28.3%	35.6%
Gen X	29.6%	48.2%
Millennials	32.5%	73.4%
Gen Z	9.6%	89.7%

Thryv Holdings, Inc. (Thry) - Análisis de mortero: factores tecnológicos

Inversión continua en capacidades de aprendizaje automático y IA

Thryv Holdings invirtió $ 8.2 millones en IA y Machine Learning Research and Development en 2023. La compañía desplegó 17 nuevas características propulsadas por IA en su plataforma de gestión de pequeñas empresas. Los algoritmos de aprendizaje automático procesaron más de 3.5 millones de transacciones comerciales mensualmente, mejorando las capacidades de análisis predictivo.

AI Métrica de inversión	2023 datos
Gasto de I + D	$ 8.2 millones
Nuevas características de AI	17
Transacciones mensuales procesadas	3.5 millones

Desarrollo de la plataforma en la nube y la plataforma SaaS

La infraestructura en la nube de Thryv admitió a 68,000 suscriptores activos de pequeñas empresas en 2023. La plataforma SaaS de la compañía logró un tiempo de actividad del 99.97%, con ingresos recurrentes mensuales promedio de $ 245 por cliente comercial. La inversión total de infraestructura en la nube alcanzó los $ 12.5 millones en el año fiscal.

Métrica de la plataforma en la nube	2023 rendimiento
Suscriptores de negocios activos	68,000
Tiempo de actividad de la plataforma	99.97%
Ingresos recurrentes mensuales por cliente	$245
Inversión en la infraestructura en la nube	$ 12.5 millones

Tecnologías emergentes de marketing digital y participación del cliente

Thryv Integrated 22 nuevas herramientas de automatización de marketing digital en 2023. La plataforma generó 1,2 millones de interacciones de campaña de marketing para pequeñas empresas, con una tasa de conversión promedio del 4.7%. La inversión en tecnología de marketing totalizó $ 5.6 millones durante el año fiscal.

Métrica de marketing digital	2023 datos
Nuevas herramientas de automatización de marketing	22
Interacciones de campaña de marketing	1.2 millones
Tasa de conversión de campaña	4.7%
Inversión en tecnología de marketing	$ 5.6 millones

Avances tecnológicos de ciberseguridad y protección de datos

THRYV implementó medidas avanzadas de ciberseguridad con $ 4.3 millones invertidos en tecnologías de protección de datos. La Compañía logró el cumplimiento de SoC 2 Tipo II y mantuvo las infracciones de seguridad importantes cero en 2023. La protección del punto final cubrió 72,000 cuentas de usuarios comerciales con autenticación multifactor.

Métrica de ciberseguridad	2023 rendimiento
Inversión de ciberseguridad	$ 4.3 millones
Certificación de cumplimiento	SoC 2 Tipo II
Infracciones de seguridad	0
Cuentas de usuario protegidas	72,000

Thryv Holdings, Inc. (Thry) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de privacidad de datos

Thryv Holdings enfrenta requisitos de cumplimiento para GDPR y CCPA con métricas específicas:

Regulación	Costo de cumplimiento	Penalización potencial
GDPR	$ 475,000 anualmente	Hasta € 20 millones o el 4% de los ingresos globales
CCPA	Implementación de $ 350,000	$ 100- $ 750 por consumidor por incidente

Protección de propiedad intelectual

Cartera de patentes: 17 patentes de software activos a partir del cuarto trimestre 2023

Desafíos legales potenciales

Categoría de riesgo legal	Costo de litigio anual estimado
Disputas de servicios digitales	$ 1.2 millones
Litigio de tecnología de marketing	$850,000

Requisitos regulatorios

Seguimiento de cumplimiento para proveedores de servicios digitales:

• Costo de cumplimiento de las regulaciones de FTC: $ 225,000
• Gastos de informes de la SEC: $ 180,000 anuales
• Regulaciones de servicio digital a nivel estatal: $ 95,000

Thryv Holdings, Inc. (Thry) - Análisis de mortero: factores ambientales

Fuítica de carbono reducida a través de soluciones digitales basadas en la nube

Thryv Holdings, Inc. ha implementado soluciones digitales basadas en la nube que contribuyen a la reducción de emisiones de carbono. Según su informe de sostenibilidad de 2022, la infraestructura en la nube de la compañía permite:

Métrico	Valor	Impacto
Reducción de emisiones de carbono	23.4 toneladas métricas CO2E	Equivalente a 50.9 vehículos de pasajeros anualmente
Energía ahorrada	412,000 kWh	Alimentar aproximadamente 37 casas promedio de EE. UU.

Eficiencia energética en el centro de datos e infraestructura en la nube

Métricas de eficiencia energética del centro de datos de Thryv para 2023:

Parámetro de infraestructura	Calificación de eficiencia	Punto de referencia
Efectividad del uso del poder (Pue)	1.45	Estándar de la industria: 1.6-1.8
Uso de energía renovable	34%	Objetivo: 50% para 2025

Soporte para operaciones comerciales sin papel

Iniciativas de transformación digital que respaldan operaciones sin papel:

• Plataforma de gestión de documentos digitales reduciendo el consumo de papel por 67%
• Facturación electrónica y comunicación reduciendo los desechos de papel por 82%
• Plataformas de comunicación del cliente que eliminan 1,2 millones de documentos físicos anualmente

Inversiones potenciales de tecnología verde en plataformas de servicio digital

Asignación de inversión de tecnología verde proyectada para 2024-2026:

Categoría de inversión	Presupuesto asignado	Impacto ambiental esperado
Infraestructura de nube sostenible	$ 3.7 millones	Reducir las emisiones de carbono en un 40%
Centros de datos de eficiencia energética	$ 2.5 millones	Mejorar Pue a 1.35
Desarrollo de software verde	$ 1.2 millones	Optimizar el consumo de energía en plataformas digitales

Thryv Holdings, Inc. (THRY) - PESTLE Analysis: Social factors

You need to understand that social trends are not just about corporate culture; they are about the DNA of your customer base and your workforce. For Thryv Holdings, Inc., the shift to a remote-first model and the rapid digital upskilling of Small and Midsize Businesses (SMBs) are the two biggest social factors driving the business in 2025.

The company's culture is a significant competitive advantage in the war for talent. Being named to Newsweek's Top 100 Global Most Loved Workplaces for 2025 is a huge win, placing Thryv at spot #66 globally. This recognition, which is based on direct employee input across five key areas like values alignment and respect, defintely helps lower recruitment costs and improves retention in a tight labor market.

Sociological

Thryv operates a 100% global, remote-first culture, which is a powerful magnet for talent. This strategy allows the company to tap into a highly diverse talent pool across the U.S., Australia, Canada, the Dominican Republic, and New Zealand, unconstrained by costly real estate or local labor market competition. However, this model requires a constant, high-touch investment in digital communication and collaboration tools to maintain the corporate culture, a challenge 30% of business leaders cite as a top concern with hybrid/remote models.

The core mission is fundamentally a positive social force, focusing on leveling the playing field for SMBs. This mission-driven purpose resonates with employees and customers alike. As of the end of Q1 2025, the company was actively helping approximately 280,000 SMB clients globally, with 111 thousand of those being high-value SaaS clients. This focus on the SaaS segment, which grew 59% year-over-year in Q1 2025, shows a successful pivot toward modernizing Main Street businesses.

The target customer-the SMB owner-is demonstrably more tech-savvy than ever, which directly increases the serviceable market opportunity for Thryv. This is best illustrated by the surge in Artificial Intelligence (AI) adoption among small businesses. According to a Thryv survey conducted in May 2025, AI usage among SMBs jumped to 55% in 2025, a 41% increase from 2024 usage levels. This shift means SMBs are now actively seeking the kind of operational efficiency and customer engagement tools that Thryv provides.

Here's the quick math on the customer-side social shift:

SMB Digital Adoption Metric	Value (2025 Data)	Implication for Thryv
AI Usage Among SMBs	55% (up 41% YoY)	High demand for AI-powered features like Thryv's automation tools.
Total Global SMB Clients (Q1 2025)	Approx. 280,000	Represents the total addressable client base for cross-selling SaaS.
SaaS Clients (Q1 2025)	111,000 (up 59% YoY)	Shows successful conversion to the high-margin, modern platform.
Customer Appointments Booked via Thryv Platform	61% more	Quantifies the platform's positive social impact on client business growth.

This digital-first mindset is a tailwind. Global IT spending by SMBs is projected to reach approximately $750,000 million by 2025, with a Compound Annual Growth Rate (CAGR) of around 12%, indicating a sustained upward trajectory in technology investment. This is an environment where Thryv's platform is perfectly positioned to capture market share.

The social factors create clear opportunities:

• Recruit top talent globally due to the remote-first model.
• Benefit from the 41% surge in SMB AI adoption.
• Retain employees better, supported by the 'Most Loved Workplace' status.
• Leverage the mission to attract purpose-driven workers.

The social environment is a strong positive for the company, aligning its remote culture with the market's digital acceleration.

Thryv Holdings, Inc. (THRY) - PESTLE Analysis: Technological factors

The technological landscape for Thryv Holdings, Inc. is defined by a single, powerful trend: the rapid, mandatory adoption of Artificial Intelligence (AI) by small-to-medium businesses (SMBs). This isn't a future-state discussion; it's a near-term reality that Thryv is capitalizing on right now.

AI adoption among Thryv's core SMB market has seen a dramatic surge, jumping by a massive 41% in 2025. This means that over half-specifically 55%-of small businesses are now actively using AI tools, up from 39% in 2024. This shift proves that AI is no longer just for big companies; it's essential for a small business to save time and reduce costs. The biggest planned increase in AI usage is defintely in marketing campaigns, with 57% of SMBs planning to use AI there. That's a clear opportunity for Thryv.

Aggressive AI Integration and Leadership

Thryv is aggressively integrating AI across its platform, a strategy solidified by the appointment of Sean Wechter as Chief Technology Officer (CTO) in September 2025. His mandate is a sharp focus on AI, infrastructure, and the tech stack, signaling that the company is fully committed to a product-led, AI-first future. This top-down strategic alignment is crucial for translating macro-trends into product features that SMBs can actually use.

The company's product team is focused on delivering AI that eliminates repetitive work and drives efficiency. Here's the quick math: 58% of current AI small business users report saving over 20 hours per month, which they can then reinvest into growth initiatives. That's the value proposition Thryv is chasing.

• AI Review Response: Automates brand-consistent replies to customer feedback.
• AI Content Generator: Creates and schedules professional marketing campaigns.
• Caption AI: Generates social media posts in seconds.
• AI Call Analysis: Reviews call transcripts, scores leads, and highlights follow-up actions.

Targeted AI Product Expansion (November 2025)

A concrete example of this strategy is the November 4, 2025, launch of the AI-Enabled Marketing Software for Home Services Businesses. This is a smart move, targeting a vertical where Thryv already works with over 15,000 businesses. The software is built on a proprietary three-step growth framework-Get Found Online, Capture and Convert New Customers, and Drive Repeat Business-and automates core marketing functions so owners can stay focused on the job.

AI-Enabled Marketing Software Feature	Core Function	Value Proposition
Enhanced Local Listings	Updates business info across 50+ sites and directories.	Boosts brand credibility and local search rankings.
AI Review Response	Provides AI-powered replies to customer reviews.	Maintains consistent brand messaging and enhances reputation.
Automated Follow-Up	Sends customized emails and texts to leads and customers.	Captures and converts leads by automating appointment reminders.
Industry Integrations	Connects with tools like ServiceTitan and Jobber.	Allows businesses to sync with existing, commonly used systems.

Integration of Acquired Technology

The platform's technological success is also tied to the seamless integration of acquired assets, most notably the Keap platform, which was acquired in late 2024 for $80 million in cash. The goal here is multi-product adoption-getting customers to use more of the platform's features, which drives higher retention and revenue. The enhanced integration between Thryv Marketing Center and Keap, showcased at the Grow 2025 conference, streamlines lead management between the two systems.

The financial impact of this integration strategy is clear in the Q3 2025 results: SaaS revenue was $115.9 million, a 33% year-over-year increase. Critically, SaaS revenue excluding Keap was $99.1 million, a 14% increase. This shows that Keap is already contributing significantly to the overall SaaS growth, validating the strategic decision to integrate its marketing automation and CRM capabilities. The combined entity now serves over 100,000 businesses globally with its software platform.

Thryv Holdings, Inc. (THRY) - PESTLE Analysis: Legal factors

You're looking at Thryv Holdings, Inc. (THRY) and its legal landscape, and what you need to know is that the biggest legal risks are shifting from legacy print contracts to modern data compliance and labor law precedents. The company's strategic pivot to a Software-as-a-Service (SaaS) model means the regulatory focus is now squarely on data privacy, but legacy risks from the Marketing Services division still have a clear, finite timeline.

Data privacy and cybersecurity compliance are critical, as the platform handles sensitive customer and payment data for over 100 thousand subscribers.

Thryv's core business is now the Thryv SaaS platform, which means the legal risk profile is dominated by data privacy and cybersecurity. The platform manages sensitive customer and payment data for a massive user base, which grew to 111 thousand SaaS clients by the end of the first quarter of 2025, and 106 thousand in the second quarter of 2025. This includes payment processing, with ThryvPay total payment volume hitting $90 million in Q2 2025.

This level of data handling makes compliance with regulations like the California Consumer Privacy Act (CCPA) and the European Union's General Data Protection Regulation (GDPR) non-negotiable. Plus, the company's increasing use of Artificial Intelligence (AI) in its tools exposes it to the evolving global AI regulatory environment, such as the EU AI Act, which will defintely increase compliance costs and liability.

• SaaS client base: 106,000 as of Q2 2025.
• Q2 2025 ThryvPay volume: $90 million.
• Risk area: Regulatory changes in AI and data privacy.

Legal risk remains from the legacy Marketing Services business, particularly concerning the managed exit of the print directory business by 2028.

The legacy Marketing Services segment, which includes the print directory business, is a known liability, but it has a planned, managed exit. Thryv made the strategic decision to fully exit this business by the end of 2028. This timeline is important because the legal exposure-like potential lawsuits over contract disputes or environmental regulations-will taper off after the final directory publication in December 2028, though billing collection will extend for another 24 months.

As of late 2024, the Marketing Services segment still had approximately 233,000 clients, representing a significant pool of legacy contracts that must be managed legally through the transition. The legal risks here are less about a breach and more about local government action.

Here's the quick math on the legacy business wind-down:

Metric	Value/Date	Legal Relevance
Marketing Services Clients (Dec 31, 2024)	Approx. 233,000	Size of legacy contract base.
Targeted Exit Date for Marketing Services	End of 2028	Defines the sunset timeline for legacy legal risk.
Final Print Directory Publication	December 2028	Marks the end of environmental and distribution liability.
Billing Collection Period Extension	24 months post-publication	Extends contract dispute risk through late 2030.

Ongoing legal precedents from the NLRB regarding employee rights and remedies could impact future labor relations and compliance costs.

The National Labor Relations Board (NLRB) case, Thryv, Inc. (2022), remains a critical, ongoing legal precedent that directly impacts the company's labor relations and potential costs. That decision expanded the NLRB's remedies for unfair labor practices (ULPs) to include compensation for all "direct or foreseeable pecuniary harms," going beyond traditional back pay and reinstatement.

The legal landscape for this expanded remedy is still fractured in 2025, which creates compliance uncertainty for Thryv: The Ninth Circuit Court of Appeals upheld the Thryv remedies in January 2025, but the Fifth Circuit (October 2025) and the Sixth Circuit (November 2025) have both ruled that the NLRB lacks the statutory authority to order such broad monetary relief. This circuit split means that the cost of a ULP violation could vary dramatically depending on the jurisdiction, making labor compliance a higher-stakes, less predictable area of expenditure.

What this estimate hides is the potential for a Supreme Court review, which could either fully validate or completely overturn the expanded Thryv remedies, changing the cost of labor disputes overnight. Still, for now, the risk of having to pay for things like medical costs, credit card interest, and other foreseeable losses remains a real and measurable threat in certain jurisdictions.

Thryv Holdings, Inc. (THRY) - PESTLE Analysis: Environmental factors

The company's transition to a 100% Work From Home model significantly reduces its corporate real estate and energy consumption footprint.

Thryv Holdings, Inc.'s shift to a global, remote-first operational model has defintely minimized its direct environmental impact (Scope 1 and Scope 2 emissions). This move, adopted in 2022 and continued through the 2025 fiscal year, means the company no longer maintains a permanent fixed office arrangement nationally, instead hiring shared facilities as required.

The elimination of fixed offices has a direct, measurable impact on the company's carbon footprint by removing all Scope 2 emissions, which are those associated with purchased electricity and heat for offices. Here's the quick math: the Work From Home (WFH) policy has eliminated emissions from core office operations, including:

• Office electricity and base building energy use.
• Office paper and waste generation.
• Refrigerant use in office air conditioning.
• Staff commuting, which is a significant Scope 3 category.

The legacy print directories, while declining, are certified carbon neutral (for FY2023-24) through offsets and a focus on certified paper procurement.

While the business model is rapidly transitioning to Software-as-a-Service (SaaS), the legacy Marketing Services segment still includes print directories, which are a major environmental consideration. To mitigate this, the Yellow Pages and White Pages directories for FY2023-24 (July 1, 2023, to June 30, 2024) were certified as carbon neutral by the Australian Government's Climate Active program.

This neutrality is achieved through a strict paper procurement strategy and a commitment to year-on-year reduction. The company aims to procure paper with Forest Stewardship Council (FSC) certification first, followed by Programme for the Endorsement of Forest Certification (PEFC). Also, they prioritize paper with a meaningful percentage of recycled content before considering virgin fiber that is not certified.

The intentional reduction in print circulation and directory size is a clear action. In FY24, Thryv Australia reduced the amount of paper used in the manufacturing of printed directories by 15% compared to FY23, a tangible cut in resource consumption. This is a strong signal to investors that the company is managing the environmental tail risk of its legacy business.

Metric	FY24 (Jul 2023 - Jun 2024)	FY23 (Jul 2022 - Jun 2023)	Change
Paper Used in Print Directories (Reduction)	-	-	15% Reduction
Carbon Neutral Certification Status	Certified Carbon Neutral	Certified Carbon Neutral	Maintained
Emissions Reduction Target (Total)	Working towards 10% Y-o-Y reduction through 2027	-	-

Expansion of environmental, social, and governance (ESG) efforts includes measuring Scope 3 emissions (indirect value chain emissions) to better understand their total impact.

The company's environmental policy is committed to improving its supply chain's carbon footprint where possible. Measuring Scope 3 emissions-the indirect emissions from the value chain-is crucial, as these often represent the majority of a company's total greenhouse gas (GHG) footprint.

Thryv Australia's reporting already includes several key Scope 3 categories, calculated in line with the GHG Protocol, directly linked to the print business and the WFH model. This provides a partial view of the overall value chain impact. What this estimate hides is the full Scope 3 picture for the global SaaS business, but the current efforts focus on the most material environmental risk: the print directories.

The measured Scope 3 categories related to the print directories include:

• Emissions from paper and coverboard manufacturing (a purchased good).
• Emissions from directory distribution and logistics (upstream transportation).
• Emissions associated with the end-of-life treatment of sold products (directory disposal and recycling).
• Emissions associated with employee working from home (WFH) and commuting.

This comprehensive approach to the legacy business's value chain emissions, coupled with the 10% year-on-year total emissions reduction target through 2027, positions Thryv as a company actively managing its environmental transition risk, even as it pivots to a lower-impact software model.