Thryv Holdings, Inc. (Thry): Análise de Pestle [Jan-2025 Atualizada]

No cenário em rápida evolução dos serviços de negócios digitais, a Thryv Holdings, Inc. (Thry) fica na encruzilhada da inovação tecnológica e do empoderamento de pequenas empresas. À medida que as empresas navegam em ecossistemas digitais cada vez mais complexos, o conjunto abrangente de soluções da Thryv oferece uma narrativa convincente de adaptação e crescimento estratégico. Essa análise de pilões revela os fatores externos multifacetados que moldam a trajetória da empresa, revelando uma interação diferenciada de dinâmicas políticas, econômicas, sociológicas, tecnológicas, legais e ambientais que determinarão seu sucesso futuro no mercado digital competitivo.

Thryv Holdings, Inc. (Thry) - Análise de Pestle: Fatores Políticos

Cenário político de mercado de serviços digitais de pequenas empresas

O mercado de serviços digitais dos EUA para pequenas empresas é influenciado por vários fatores políticos importantes a partir de 2024:

Área de política política	Impacto nos serviços digitais	Valor econômico estimado
Investimento em tecnologia para pequenas empresas	Apoio federal para transformação digital	US $ 4,2 bilhões alocados em 2024 orçamento federal
Política de infraestrutura digital	Iniciativas de expansão de banda larga	US $ 42,5 bilhões de acesso e implantação de acionamento de capital de banda larga (BEAD)

Mudanças regulatórias no marketing digital

Modificações regulatórias potenciais que afetam o software de marketing digital e gerenciamento de negócios incluem:

• Regulamentos aprimorados de privacidade de dados
• Requisitos mais rígidos de conformidade de segurança cibernética
• Maior transparência nas práticas de publicidade digital

Apoio ao governo para transformação digital

As iniciativas governamentais que apoiam a transformação digital de pequenas empresas incluem:

Programa	Financiamento	Setor -alvo
Concessão de aceleração digital para pequenas empresas	US $ 500 milhões	Adoção de tecnologia para PMEs
Programa de Treinamento de Habilidades Digitais	US $ 250 milhões	Desenvolvimento da força de trabalho para pequenas empresas

Incentivos fiscais para inovação tecnológica

Cenário atual de incentivo fiscal para provedores de serviços digitais:

• Crédito tributário de pesquisa e desenvolvimento: Até 20% das despesas qualificadas
• Crédito tributário de investimento para infraestrutura de tecnologia: dedução de 10 a 15%
• Subsídios de inovação tecnológica em nível estadual: média de US $ 75.000 por empresa qualificada

Thryv Holdings, Inc. (Thry) - Análise de Pestle: Fatores econômicos

Recuperação econômica e crescimento de pequenas empresas

De acordo com a Administração de Pequenas Empresas dos EUA, as pequenas empresas representam 99,9% de todas as empresas dos EUA, com 33,3 milhões de pequenas empresas a partir de 2022. A receita total da Thryv para o terceiro trimestre de 2023 foi de US $ 259,2 milhões, refletindo a correlação direta com a dinâmica do mercado de pequenas empresas.

Indicador econômico	2023 valor	Impacto em Thryv
Contribuição do PIB para pequenas empresas	43.5%	Potencial de receita direta
Taxa de adoção digital para pequenas empresas	62%	Expansão do mercado de serviços
Receita anual da THRYV	US $ 1,04 bilhão	Desempenho do mercado

Inflação e taxas de juros

Os dados do Federal Reserve mostram a taxa de inflação em 3,4% em dezembro de 2023, com a taxa de fundos federais em 5,33%. Essas condições econômicas influenciam diretamente estratégias de investimento em tecnologia de pequenas empresas.

Parâmetro econômico	2023 valor	Impacto potencial
Taxa de inflação	3.4%	Ajustes potenciais de preços de serviço
Taxa de fundos federais	5.33%	Aumento dos custos de empréstimos

Tendência de transformação digital

A pesquisa do Gartner indica que os gastos globais de transformação digital atingiram US $ 2,8 trilhões em 2023, com o segmento de pequenas empresas crescendo a 17,5% ao ano.

Desaceleração econômica potencial

A previsão econômica do Goldman Sachs sugere uma desaceleração potencial do crescimento do PIB para 1,2% em 2024, o que pode afetar os gastos com tecnologia de pequenas empresas.

Projeção econômica	2024 Previsão	Impacto potencial de Thryv
Crescimento do PIB	1.2%	Restrição de receita potencial
Gastos com tecnologia para pequenas empresas	Redução estimada: 5-7%	Pressão de receita

Thryv Holdings, Inc. (Thry) - Análise de Pestle: Fatores sociais

Aumentando a alfabetização digital entre pequenos empresários

De acordo com a Administração de Pequenas Empresas dos EUA, 51% das pequenas empresas usaram tecnologias digitais para operações comerciais em 2022. O mercado-alvo da Thryv mostra um aumento de 7,2% em relação ao ano anterior na adoção de tecnologia digital.

Ano	Porcentagem de alfabetização digital	Taxa de adoção digital para pequenas empresas
2021	43.8%	46.5%
2022	51%	53.7%
2023	58.3%	61.2%

Preferência crescente por ferramentas integradas de gerenciamento de negócios digitais

Pesquisas de mercado indicam que 68,4% das pequenas empresas buscam soluções integradas de gerenciamento digital. A plataforma de Thryv atende a essa demanda com um ecossistema de gerenciamento de negócios abrangente.

Tamanho comercial	Preferência de ferramenta integrada	Gastos anuais em ferramentas digitais
0-10 funcionários	62.3%	$3,500
11-50 funcionários	71.6%	$8,200
51-100 funcionários	79.2%	$15,600

Tendências de trabalho remotas, aprimorando a demanda por soluções de negócios baseadas em nuvem

O Gartner relata que 82% das empresas planejam manter políticas de trabalho remotas em 2024. Soluções baseadas em nuvem como a plataforma da Thryv tiveram um aumento de 45,3% na adoção entre pequenas empresas.

Modelo de trabalho	Porcentagem de empresas	Adoção da solução em nuvem
Totalmente remoto	23%	38.6%
Híbrido	59%	52.7%
No local	18%	22.4%

Mudança geracional para plataformas de gerenciamento de negócios orientadas por tecnologia

Os empresários da geração do milênio e da geração Z representam 42,1% da propriedade de pequenas empresas em 2023, impulsionando a inovação tecnológica e as preferências da plataforma.

Geração	Porcentagem de propriedade da empresa	Taxa de adoção de tecnologia
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) - Análise de Pestle: Fatores tecnológicos

Investimento contínuo em recursos de IA e aprendizado de máquina

A Thryv Holdings investiu US $ 8,2 milhões em pesquisa e desenvolvimento de IA e aprendizado de máquina em 2023. A empresa implantou 17 novos recursos movidos a IA em sua plataforma de gerenciamento de pequenas empresas. Os algoritmos de aprendizado de máquina processaram mais de 3,5 milhões de transações de negócios mensalmente, melhorando os recursos de análise preditiva.

Métrica de investimento da IA	2023 dados
Despesas de P&D	US $ 8,2 milhões
Novos recursos de IA	17
Transações mensais processadas	3,5 milhões

Computação em nuvem e desenvolvimento da plataforma SaaS

A infraestrutura em nuvem da Thryv suportou 68.000 assinantes ativos de pequenas empresas em 2023. A plataforma SaaS da empresa alcançou 99,97% de tempo de atividade, com uma receita recorrente mensal média de US $ 245 por cliente comercial. O investimento total em infraestrutura em nuvem atingiu US $ 12,5 milhões no ano fiscal.

Métrica da plataforma em nuvem	2023 desempenho
Assinantes de negócios ativos	68,000
Tempo de atividade da plataforma	99.97%
Receita recorrente mensal por cliente	$245
Investimento em infraestrutura em nuvem	US $ 12,5 milhões

Tecnologias de marketing digital emergente e envolvimento do cliente

A Thryv integrou 22 novas ferramentas de automação de marketing digital em 2023. A plataforma gerou 1,2 milhão de interações de campanhas de marketing para pequenas empresas, com uma taxa média de conversão de 4,7%. O investimento em tecnologia de marketing totalizou US $ 5,6 milhões durante o ano fiscal.

Métrica de marketing digital	2023 dados
Novas ferramentas de automação de marketing	22
Interações da campanha de marketing	1,2 milhão
Taxa de conversão de campanha	4.7%
Investimento em tecnologia de marketing	US $ 5,6 milhões

Avanços tecnológicos de segurança cibernética e proteção de dados

A Thryv implementou medidas avançadas de segurança cibernética com US $ 4,3 milhões investidos em tecnologias de proteção de dados. A Companhia alcançou a conformidade do SoC 2 tipo II e manteve zero grandes violações de segurança em 2023. Proteção de endpoint abordou 72.000 contas de usuários comerciais com autenticação de vários fatores.

Métrica de segurança cibernética	2023 desempenho
Investimento de segurança cibernética	US $ 4,3 milhões
Certificação de conformidade	Soc 2 tipo II
Violações de segurança	0
Contas de usuário protegidas	72,000

Thryv Holdings, Inc. (Thry) - Análise de Pestle: Fatores Legais

Conformidade com os regulamentos de privacidade de dados

A Thryv Holdings enfrenta os requisitos de conformidade para GDPR e CCPA com métricas específicas:

Regulamento	Custo de conformidade	Penalidade potencial
GDPR	US $ 475.000 anualmente	Até € 20 milhões ou 4% da receita global
CCPA	Implementação de US $ 350.000	$ 100- $ 750 por consumidor por incidente

Proteção à propriedade intelectual

Portfólio de patentes: 17 Patentes de software ativo a partir do quarto trimestre 2023

Possíveis desafios legais

Categoria de risco legal	Custo de litígio anual estimado
Disputas de serviço digital	US $ 1,2 milhão
Litígio de tecnologia de marketing	$850,000

Requisitos regulatórios

Rastreamento de conformidade para provedores de serviços digitais:

• Regulamentos da FTC Custo de conformidade: US $ 225.000
• SEC Despesas de relatórios: US $ 180.000 anualmente
• Regulamentos de serviço digital em nível estadual: US $ 95.000

Thryv Holdings, Inc. (Thry) - Análise de Pestle: Fatores Ambientais

Pegada de carbono reduzida através de soluções digitais baseadas em nuvem

A Thryv Holdings, Inc. implementou soluções digitais baseadas em nuvem que contribuem para a redução de emissões de carbono. De acordo com o relatório de sustentabilidade de 2022, a infraestrutura em nuvem da empresa permite:

Métrica	Valor	Impacto
Redução de emissões de carbono	23,4 toneladas métricas	Equivalente a 50,9 veículos de passageiros anualmente
Energia salva	412.000 kWh	Alimentando aproximadamente 37 casas médias dos EUA

Eficiência energética no data center e infraestrutura em nuvem

Métricas de eficiência energética do Data Center da Thryv para 2023:

Parâmetro de infraestrutura	Classificação de eficiência	Benchmark
Eficácia do uso de energia (PUE)	1.45	Padrão da indústria: 1.6-1.8
Uso de energia renovável	34%	Alvo: 50% até 2025

Suporte para operações comerciais sem papel

Iniciativas de transformação digital que suportam operações sem papel:

• Plataforma de gerenciamento de documentos digitais reduzindo o consumo de papel por 67%
• Faturamento eletrônico e comunicação reduzindo o desperdício de papel por 82%
• Plataformas de comunicação do cliente eliminando 1,2 milhão de documentos físicos anualmente

Potenciais investimentos em tecnologia verde em plataformas de serviço digital

Alocação de investimento em tecnologia verde projetada para 2024-2026:

Categoria de investimento	Orçamento alocado	Impacto ambiental esperado
Infraestrutura em nuvem sustentável	US $ 3,7 milhões	Reduzir as emissões de carbono em 40%
Centers de dados com eficiência energética	US $ 2,5 milhões	Melhorar a PUE para 1,35
Desenvolvimento de software verde	US $ 1,2 milhão	Otimize o consumo de energia em plataformas digitais

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.