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Thryv Holdings, Inc.（THRY）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
Thryv Holdings, Inc.的季度营收约是再鼎医药的1.3倍（$167.7M vs $127.1M），再鼎医药同比增速更快（17.1% vs -7.5%），Thryv Holdings, Inc.自由现金流更多（$-5.5M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -13.5%）
Thryv Holdings, Inc.是一家上市软件服务（SaaS）企业，面向中小企业提供客户关系管理与网络声誉管理软件解决方案。公司总部位于得克萨斯州达拉斯，业务覆盖美国48个州，现有员工超过2400名，其前身是多家黄页企业组成的集团。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
THRY vs ZLAB — 直观对比
营收规模更大
THRY
是对方的1.3倍
$127.1M
营收增速更快
ZLAB
高出24.7%
-7.5%
自由现金流更多
THRY
多$21.2M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-13.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $167.7M | $127.1M |
| 净利润 | $4.5M | — |
| 毛利率 | 65.2% | 51.0% |
| 营业利润率 | 37.3% | -54.6% |
| 净利率 | 2.7% | — |
| 营收同比 | -7.5% | 17.1% |
| 净利润同比 | 147.2% | — |
| 每股收益（稀释后） | $0.10 | $-0.05 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收THRYZLAB
| Q1 26 | $167.7M | — | ||
| Q4 25 | $191.6M | $127.1M | ||
| Q3 25 | $201.6M | $115.4M | ||
| Q2 25 | $210.5M | $109.1M | ||
| Q1 25 | $181.4M | $105.7M | ||
| Q4 24 | $186.6M | $108.5M | ||
| Q3 24 | $179.9M | $101.8M | ||
| Q2 24 | $224.1M | $100.1M |
净利润THRYZLAB
| Q1 26 | $4.5M | — | ||
| Q4 25 | $-9.7M | — | ||
| Q3 25 | $5.7M | $-36.0M | ||
| Q2 25 | $13.9M | $-40.7M | ||
| Q1 25 | $-9.6M | $-48.4M | ||
| Q4 24 | $7.9M | — | ||
| Q3 24 | $-96.1M | $-41.7M | ||
| Q2 24 | $5.5M | $-80.3M |
毛利率THRYZLAB
| Q1 26 | 65.2% | — | ||
| Q4 25 | 68.0% | 51.0% | ||
| Q3 25 | 67.7% | 59.5% | ||
| Q2 25 | 69.7% | 60.6% | ||
| Q1 25 | 65.8% | 63.6% | ||
| Q4 24 | 65.9% | 61.5% | ||
| Q3 24 | 62.3% | 64.1% | ||
| Q2 24 | 66.3% | 64.9% |
营业利润率THRYZLAB
| Q1 26 | 37.3% | — | ||
| Q4 25 | 5.3% | -54.6% | ||
| Q3 25 | 9.9% | -42.3% | ||
| Q2 25 | 14.0% | -50.3% | ||
| Q1 25 | -1.7% | -53.3% | ||
| Q4 24 | -3.9% | -62.6% | ||
| Q3 24 | -49.2% | -66.6% | ||
| Q2 24 | 14.0% | -76.0% |
净利率THRYZLAB
| Q1 26 | 2.7% | — | ||
| Q4 25 | -5.0% | — | ||
| Q3 25 | 2.8% | -31.2% | ||
| Q2 25 | 6.6% | -37.3% | ||
| Q1 25 | -5.3% | -45.8% | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | -53.4% | -40.9% | ||
| Q2 24 | 2.5% | -80.2% |
每股收益（稀释后）THRYZLAB
| Q1 26 | $0.10 | — | ||
| Q4 25 | $-0.21 | $-0.05 | ||
| Q3 25 | $0.13 | $-0.03 | ||
| Q2 25 | $0.31 | $-0.04 | ||
| Q1 25 | $-0.22 | $-0.04 | ||
| Q4 24 | $0.28 | $-0.09 | ||
| Q3 24 | $-2.65 | $-0.04 | ||
| Q2 24 | $0.15 | $-0.08 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $8.0M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $225.4M | $715.5M |
| 总资产 | $693.7M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资THRYZLAB
| Q1 26 | $8.0M | — | ||
| Q4 25 | $10.8M | $689.6M | ||
| Q3 25 | $11.6M | $717.2M | ||
| Q2 25 | $10.8M | $732.2M | ||
| Q1 25 | $11.0M | $757.3M | ||
| Q4 24 | $16.3M | $779.7M | ||
| Q3 24 | $12.5M | $616.1M | ||
| Q2 24 | $15.5M | $630.0M |
总债务THRYZLAB
| Q1 26 | — | — | ||
| Q4 25 | $253.5M | — | ||
| Q3 25 | $268.2M | — | ||
| Q2 25 | $275.6M | — | ||
| Q1 25 | $299.0M | — | ||
| Q4 24 | $284.3M | — | ||
| Q3 24 | $307.8M | — | ||
| Q2 24 | $342.1M | — |
股东权益THRYZLAB
| Q1 26 | $225.4M | — | ||
| Q4 25 | $218.1M | $715.5M | ||
| Q3 25 | $221.1M | $759.9M | ||
| Q2 25 | $214.9M | $791.7M | ||
| Q1 25 | $193.2M | $810.8M | ||
| Q4 24 | $196.9M | $840.9M | ||
| Q3 24 | $94.5M | $667.7M | ||
| Q2 24 | $183.1M | $704.2M |
总资产THRYZLAB
| Q1 26 | $693.7M | — | ||
| Q4 25 | $688.6M | $1.2B | ||
| Q3 25 | $701.8M | $1.2B | ||
| Q2 25 | $687.7M | $1.2B | ||
| Q1 25 | $703.7M | $1.2B | ||
| Q4 24 | $712.2M | $1.2B | ||
| Q3 24 | $654.8M | $985.3M | ||
| Q2 24 | $785.5M | $987.4M |
负债/权益比THRYZLAB
| Q1 26 | — | — | ||
| Q4 25 | 1.16× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.55× | — | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | 3.26× | — | ||
| Q2 24 | 1.87× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-5.5M | $-26.7M |
| 自由现金流率自由现金流/营收 | -3.3% | -21.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $43.3M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流THRYZLAB
| Q1 26 | — | — | ||
| Q4 25 | $22.2M | $-26.0M | ||
| Q3 25 | $22.2M | $-32.0M | ||
| Q2 25 | $29.6M | $-31.0M | ||
| Q1 25 | $-10.5M | $-61.7M | ||
| Q4 24 | $26.1M | $-55.8M | ||
| Q3 24 | $36.0M | $-26.8M | ||
| Q2 24 | $22.2M | $-42.2M |
自由现金流THRYZLAB
| Q1 26 | $-5.5M | — | ||
| Q4 25 | $12.3M | $-26.7M | ||
| Q3 25 | $14.6M | $-35.0M | ||
| Q2 25 | $21.8M | $-33.9M | ||
| Q1 25 | $-17.6M | $-63.2M | ||
| Q4 24 | $17.3M | $-58.4M | ||
| Q3 24 | $27.5M | $-28.2M | ||
| Q2 24 | $13.3M | $-42.9M |
自由现金流率THRYZLAB
| Q1 26 | -3.3% | — | ||
| Q4 25 | 6.4% | -21.0% | ||
| Q3 25 | 7.2% | -30.4% | ||
| Q2 25 | 10.4% | -31.1% | ||
| Q1 25 | -9.7% | -59.9% | ||
| Q4 24 | 9.3% | -53.8% | ||
| Q3 24 | 15.3% | -27.7% | ||
| Q2 24 | 5.9% | -42.9% |
资本支出强度THRYZLAB
| Q1 26 | — | — | ||
| Q4 25 | 5.2% | 0.5% | ||
| Q3 25 | 3.8% | 2.6% | ||
| Q2 25 | 3.7% | 2.6% | ||
| Q1 25 | 3.9% | 1.5% | ||
| Q4 24 | 4.7% | 2.4% | ||
| Q3 24 | 4.7% | 1.3% | ||
| Q2 24 | 4.0% | 0.7% |
现金转化率THRYZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.93× | — | ||
| Q2 25 | 2.12× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.32× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 4.01× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
THRY
| SaaS | $116.7M | 70% |
| Other | $50.9M | 30% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
