Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Segment Reporting Information, by Segment

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


	Three Months Ended June 30, 2021
	Marketing Services		SaaS		Thryv International		Total
Revenue	$	202,795	$	41,386	$	46,866	$	291,047
Segment EBITDA	82,684		(2,119)		16,188		96,753


	Three Months Ended June 30, 2020
	Marketing Services		SaaS		Thryv International		Total
Revenue	$	272,327	$	31,285	$	—	$	303,612
Segment EBITDA	112,612		5,523		—		118,135


	Six Months Ended June 30, 2021
	Marketing Services		SaaS		Thryv International		Total
Revenue	$	430,728	$	78,637	$	62,288	$	571,653
Segment EBITDA	181,315		(1,803)		22,174		201,686


	Six Months Ended June 30, 2020
	Marketing Services		SaaS		Thryv International		Total
Revenue	$	559,049	$	63,133	$	—	$	622,182
Segment EBITDA	222,690		8,224		—		230,914

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

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,
	2021		2020		2021		2020
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 asset	844		(617)		844		(4,418)
Other	1,251		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.

Disaggregation of Revenue

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,
	2021		2020		2021		2020
Marketing Services
PYP	$	93,753	$	139,160	$	206,664	$	276,547
IYP	61,004		69,321		125,099		144,267
SEM	32,202		40,951		66,634		90,659
Other	15,836		22,895		32,331		47,576
Total Marketing Services	202,795		272,327		430,728		559,049
SaaS
Thryv Platform	26,798		24,263		52,698		49,531
Thryv Add-ons	14,588		7,022		25,939		13,602
Total SaaS	41,386		31,285		78,637		63,133
Thryv International
PYP	15,231		—		20,944		—
IYP	18,361		—		24,931		—
SEM	6,030		—		8,031		—
Other	7,235		—		8,373		—
Thryv Platform	6		—		6		—
Thryv Add-ons	3		—		3		—
Total Thryv International	46,866		—		62,288		—
Total Revenue	$	291,047	$	303,612	$	571,653	$	622,182