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Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's internal financial reporting and management structure is focused on the major types of services it provides. The Company manages operations using two operating segments which are also its reportable segments: (1) Marketing Services and (2) SaaS. These reportable segments are consistent with information used by the Chief Executive Officer, who is also the chief operating decision maker (“CODM”), to assess performance and allocate resources. Marketing Services includes PYP, IYP, SEM, and other digital media solutions including online display and social advertising, online presence and video, and SEO tools. SaaS segment revenue consists of the Thryv platform and Thryv Leads and add-ons.

The Company's CODM evaluates performance, makes operating decisions, and allocates resources based on the Company's revenue and Adjusted EBITDA, both on a consolidated basis and for the two reportable segments. Segment EBITDA is the Company’s measure of profitability for its two reportable segments. Segment EBITDA is defined as earnings before interest, taxes, depreciation and amortization and excluding other components of net periodic pension cost, stock-based compensation expense, gain/(loss) on early extinguishment of debt, adjustments for acquisition accounting and fresh start accounting, accounting conformity adjustments, and restructuring and integration expenses.

The Company does not evaluate performance or allocate resources based on segment asset data, and, therefore, such information is not presented. In addition, the Company does not enter into transactions between its reportable segments.

The following tables summarize the operating results of our reportable segments (in thousands):

Year Ended December 31, 2020
Marketing ServicesSaaSTotal
Revenue$979,611 $129,824 $1,109,435 
Segment EBITDA358,804 13,035 371,839 
Year Ended December 31, 2019
Marketing ServicesSaaSTotal
Revenue$1,292,795$128,579 $1,421,374 
Segment EBITDA468,93412,165 481,099 
Year Ended December 31, 2018
Marketing ServicesSaaSTotal
Revenue$1,659,786$124,615 $1,784,401 
Segment EBITDA593,432(6,927)586,505 
A reconciliation of total Segment EBITDA to the Company’s Income before (provision) for income taxes is as follows (in thousands):
Years Ended December 31,
202020192018
Total Segment Adjusted EBITDA$371,839 $481,099 $586,505 
Impact of ASC 842 — 534 — 
Impact of ASC 606— — (213)
Interest expense(68,539)(92,951)(82,697)
Depreciation and amortization expense(146,523)(206,270)(266,975)
Other components of net periodic pension cost(42,236)(53,161)(516)
(Loss) on early extinguishment of debt— (6,375)(18,375)
Adjustments for acquisition accounting, fresh start accounting, and other one-time adjustments including accounting conformity adjustments(1)
— — (28,587)
Impairment charges(24,911)(5,670)— 
Restructuring and other integration expenses (2)
(28,459)(40,290)(87,307)
Transaction costs (3)
(20,999)(6,081)— 
Stock-based compensation benefit (expense)2,895 (14,119)(39,604)
(Loss) gain on remeasurement of indemnification asset(5,443)(4,093)9,518 
Other 3,614 943 (10,991)
Income before benefit (provision) for income taxes$41,238 $53,566 $60,758 
(1)The Company's segment results include the recognition of contract liabilities (deferred revenue) and deferred costs associated with deferred balances that were written off in acquisition accounting and fresh start accounting. The Company's consolidated results do not include these amounts.
(2)For the year ended December 31, 2020, the Company incurred $11.7 million of severance expense, of which $5.0 million was a result of the COVID-19 pandemic as discussed in Note 9. In addition, the Company incurred losses on disposal of fixed assets and capitalized software and costs associated with abandoned facilities and system consolidation.
(3)Consists of direct listing and other transaction costs.
The following table sets forth the Company's disaggregation of revenue based on services for the periods indicated (in thousands):
Years Ended December 31,
202020192018
Marketing Services
PYP$443,315 $605,952 $798,838 
IYP280,750 339,416 379,687 
SEM167,770 232,345 328,814 
Other87,776 115,082 152,447 
Total Marketing Services$979,611 $1,292,795 $1,659,786 
SaaS
Thryv Platform$90,923 $96,405 $111,875 
Thryv Leads and Add-ons38,901 32,174 12,740 
Total SaaS$129,824 $128,579 $124,615 
Total Revenue$1,109,435 $1,421,374 $1,784,401