DALLAS - Thryv, Inc. (NASDAQ: THRY), a provider of small business software solutions, has welcomed Rees Johnson to its executive team as chief product officer. Johnson will take the helm of product vision, strategy, and development for Thryv's platform, which is designed to assist small businesses in automating and modernizing their operations. He will report to Thryv President Grant Freeman.
Johnson's arrival marks a significant phase for Thryv as the company is set to expand its platform offerings and enhance artificial intelligence integration. With over two decades of experience in product leadership, Johnson's previous role was at Forcepoint, where he served as chief product officer, focusing on transitioning products and customers to a full SaaS business model. His expertise also includes senior positions at Symantec (NASDAQ:GEN)'s enterprise division, Intel (NASDAQ:INTC), and McAfee Labs.
Grant Freeman expressed confidence in Johnson's ability to drive the company's product strategy forward, emphasizing his proven track record in product adoption and value creation for customers. Johnson holds an MBA from The Wharton School and a BS in Finance from the University of Utah.
In a statement, Johnson conveyed his commitment to easing the operational challenges faced by small business owners and expressed enthusiasm for leading Thryv's product innovation.
Thryv's platform is known for its customizable nature, featuring three core centers: the Thryv Command Center, Business Center, and Marketing Center. The company's mission is to provide small business owners with a comprehensive suite of tools to manage their operations effectively, aiming to save them up to 20 hours per week. Thryv's services are utilized by over 300,000 businesses globally.
The information for this report is based on a press release statement.
InvestingPro Insights
As Thryv, Inc. (NASDAQ: THRY) continues to innovate and expand its small business software solutions under the leadership of newly appointed Chief Product Officer Rees Johnson, investors and stakeholders are closely monitoring the company's financial health and market performance. The latest data from InvestingPro reveals a snapshot of Thryv's current financial metrics that could influence the company's strategic decisions and market outlook.
Thryv's market capitalization stands at $791.52 million, reflecting the company's size and market value as of the most recent data. Despite challenges, Thryv has managed to maintain a strong gross profit margin of 63.06% over the last twelve months as of Q4 2023, indicating their ability to retain a significant portion of revenue after accounting for the cost of goods sold. This is particularly relevant as the company focuses on enhancing its product offerings and artificial intelligence capabilities.
Investors should also consider the InvestingPro Tips that provide deeper insights into Thryv's financial standing and future prospects. The company is trading at a high Price / Book multiple of 5.18, which may suggest a premium valuation by the market. Additionally, analysts are predicting a sales decline in the current year, which could be a point of concern for potential investors. However, it's worth noting that Thryv has experienced a strong return over the last three months, with a price total return of 21.44%, signaling positive investor sentiment in the short term.
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Investors and analysts alike will be watching to see how Johnson's expertise and Thryv's product development efforts align with the company's financial trajectory and market performance as they navigate through the competitive landscape of small business solutions.
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