Thryv Holdings Inc (THRY) stock is soaring 5.10% in Friday's trading session, following the release of its impressive first-quarter 2025 earnings report. The company's successful transition to a SaaS-focused model and strong financial results have sparked investor enthusiasm.

Highlights from the earnings call include a remarkable 50% year-over-year revenue growth, with a 24% increase when normalized for the recent Keep acquisition. Thryv achieved a significant milestone as SaaS revenue now accounts for 61% of total revenue, underscoring the company's successful pivot from marketing services to a SaaS-centric business model. Subscriber growth was robust at 37%, bringing the total subscriber base to 96,000, or 111,000 when including Keep subscribers.

Joe Walsh, CEO of Thryv, emphasized the company's strong performance in customer retention and expansion. "We've reached a record high net revenue retention of 103%, indicating strong customer satisfaction and effective cross-selling strategies," Walsh stated during the earnings call. He also highlighted the successful integration of Keep's partner channel, which has enhanced Thryv's market reach and product offerings. Despite some challenges, including a seasonal dip in customer additions and ongoing integration efforts, the overall positive results and outlook appear to have bolstered investor confidence, driving the stock's significant gain in today's trading.