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Segment Information
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
As a result of the Sensis Acquisition, we reviewed our segment reporting based on the information used by the Chief Executive Officer, who is also the chief operating decision maker (“CODM”), to assess performance and allocate resources subsequent to the Sensis Acquisition. As a result of this review, we determined that the Company manages operations using three operating segments which are also its reportable segments: (1) Marketing Services, (2) SaaS, and (3) Thryv International.
During the six months ended June 30, 2021, the Company adjusted its methodology of classifying certain revenue between products of its SaaS segment. The three and six months ended June 30, 2021, and 2020 reflect the current methodology.
The following tables summarize the operating results of our reportable segments (in thousands):
Three Months Ended June 30, 2021
Marketing ServicesSaaSThryv InternationalTotal
Revenue$202,795 $41,386 $46,866 $291,047 
Segment EBITDA82,684 (2,119)16,188 96,753 
Three Months Ended June 30, 2020
Marketing ServicesSaaSThryv InternationalTotal
Revenue$272,327 $31,285 $— $303,612 
Segment EBITDA112,612 5,523 — 118,135 
Six Months Ended June 30, 2021
Marketing ServicesSaaSThryv InternationalTotal
Revenue$430,728 $78,637 $62,288 $571,653 
Segment EBITDA181,315 (1,803)22,174 201,686 
Six Months Ended June 30, 2020
Marketing ServicesSaaSThryv InternationalTotal
Revenue$559,049 $63,133 $— $622,182 
Segment EBITDA222,690 8,224 — 230,914 
A reconciliation of total Segment EBITDA to the Company’s Income before benefit (provision) for income taxes is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Total Segment EBITDA$96,753 $118,135 $201,686 $230,914 
Interest expense(19,170)(18,012)(34,842)(37,942)
Depreciation and amortization(29,908)(37,606)(49,626)(75,429)
Other components of net periodic pension benefit (cost)272 (936)725 (1,137)
(Loss) on termination of leaseback obligations(3,110)— (3,409)— 
Impairment charges(3,611)(18,132)(3,611)(18,230)
Restructuring and integration expenses (1)
(3,489)(7,347)(12,723)(17,192)
Transaction costs (2)
(5,440)(3,232)(15,986)(9,766)
Stock-based compensation (expense) benefit(1,921)(580)(3,892)5,484 
Gain (loss) from remeasurement of indemnification asset844 (617)844 (4,418)
Other1,251 955 1,620 1,855 
Income before (provision) for income taxes$32,471 $32,628 $80,786 $74,139 
(1)During the three and six months ended June 30, 2021, the Company incurred $0.6 million and $1.2 million of severance expense, respectively, of which none was a result of the COVID-19 pandemic. During the three and six months ended June 30, 2020, the Company incurred a total of $4.0 million and $7.3 million of severance expense, respectively, of which $4.0 million and $5.0 million, respectively, was a result of the COVID-19 pandemic. In addition, the Company incurred losses on disposal of fixed assets and capitalized software and costs associated with abandoned facilities and system consolidation.
(2)Consists of direct listing, Sensis Acquisition and other transaction costs.
The following table sets forth the Company's disaggregation of revenue based on services for the periods indicated (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Marketing Services
PYP$93,753 $139,160 $206,664 $276,547 
IYP61,004 69,321 125,099 144,267 
SEM32,202 40,951 66,634 90,659 
Other15,836 22,895 32,331 47,576 
Total Marketing Services202,795 272,327 430,728 559,049 
SaaS
Thryv Platform26,798 24,263 52,698 49,531 
Thryv Add-ons14,588 7,022 25,939 13,602 
Total SaaS41,386 31,285 78,637 63,133 
Thryv International
PYP15,231 — 20,944 — 
IYP18,361 — 24,931 — 
SEM6,030 — 8,031 — 
Other7,235 — 8,373 — 
Thryv Platform 6 — 6 — 
Thryv Add-ons3 — 3 — 
Total Thryv International46,866 — 62,288 — 
Total Revenue$291,047 $303,612 $571,653 $622,182