Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize the operating results of the Company's reportable segments:

	Three Months Ended June 30, 2022
	Thryv U.S.				Thryv International
(in thousands)	Marketing Services		SaaS		Marketing Services		SaaS		Total
Revenue	$	222,570	$	51,167	$	59,218	$	1,040	$	333,995
Segment Gross Profit	151,774		32,092		43,627		489		227,982
Segment Adjusted EBITDA	83,674		197		34,545		(2,416)		116,000

	Three Months Ended June 30, 2021
	Thryv U.S.				Thryv International
(in thousands)	Marketing Services		SaaS		Marketing Services		SaaS		Total
Revenue	$	202,795	$	41,386	$	46,857	$	9	$	291,047
Segment Gross Profit	136,831		25,314		16,290		5		178,440
Segment Adjusted EBITDA	82,684		(2,119)		16,183		5		96,753

	Six Months Ended June 30, 2022
	Thryv U.S.				Thryv International
(in thousands)	Marketing Services		SaaS		Marketing Services		SaaS		Total
Revenue	$	435,103	$	98,510	$	106,882	$	1,875	$	642,370
Segment Gross Profit	288,284		61,501		75,343		710		425,838
Segment Adjusted EBITDA	150,069		(4,167)		58,642		(4,827)		199,717

	Six Months Ended June 30, 2021
	Thryv U.S.				Thryv International
(in thousands)	Marketing Services		SaaS		Marketing Services		SaaS		Total
Revenue	$	430,728	$	78,637	$	62,279	$	9	$	571,653
Segment Gross Profit	292,992		48,481		19,408		5		360,886
Segment Adjusted EBITDA	181,315		(1,803)		22,169		5		201,686

Reconciliation of Earnings Before Interest, Tax, Depreciation, and Amortization from Segments to Consolidated

A reconciliation of the Company’s Income before income tax expense to total Segment Adjusted EBITDA is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Income before income tax expense	$	80,202	$	32,471	$	123,334	$	80,786
Interest expense	14,652		19,170		29,519		34,842
Depreciation and amortization	20,592		29,908		42,561		49,626
Other components of net periodic pension (benefit)	(9,153)		(272)		(9,223)		(725)
Loss on termination of leaseback obligations	—		3,110		—		3,409
Impairment charges	222		3,611		222		3,611
Restructuring and integration expenses	4,822		3,489		10,649		12,723
Transaction costs (1)	1,616		5,440		3,336		15,986
Stock-based compensation expense	3,810		1,921		5,738		3,892
(Gain) from remeasurement of indemnification asset	(487)		(844)		(887)		(844)
Other	(276)		(1,251)		(5,532)		(1,620)
Total Segment Adjusted EBITDA	$	116,000	$	96,753	$	199,717	$	201,686

(1)Consists of Vivial Acquisition, Thryv Australia Acquisition and other transaction costs.

Disaggregation of Revenue

The following table sets forth the Company's disaggregation of Revenue based on services for the periods indicated:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Thryv U.S.
Print	$	104,264	$	93,753	$	202,170	$	206,664
Digital	118,306		109,042		232,933		224,064
Total Marketing Services	222,570		202,795		435,103		430,728
SaaS	51,167		41,386		98,510		78,637
Total Thryv U.S.	$	273,737	$	244,181	$	533,613	$	509,365
Thryv International
Print	$	34,907	$	15,231	$	56,407	$	20,944
Digital	24,311		31,626		50,475		41,335
Total Marketing Services	59,218		46,857		106,882		62,279
SaaS	1,040		9		1,875		9
Total Thryv International	60,258		46,866		108,757		62,288
Total Revenue	$	333,995	$	291,047	$	642,370	$	571,653