Nerdy Inc.

nerdy.com

What Do They Do?

Provides live tutoring, classes and self-study tools to individual learners and education systems through an online learning platform.

How Do They Make Money?

Learners pay a fixed monthly rate for Learning Memberships, generally collected in advance; Nerdy earns revenue as tutoring sessions are delivered. Institutions pay a fixed rate for access under contracts, with some paying in advance and others invoiced monthly for sessions provided.

FY2025 revenue

Who Are Their Customers?

Individual learners access the platform directly through Learning Memberships; education institutions use Varsity Tutors for Schools, including tutoring and other online learning resources.

Do Revenues Turn Into Profits?

No. It lost $39.9M in FY2025.

Operating income, FY2025

−35% of revenue

▼ −12% (Loss) vs FY2024 (−$70.1M, −37%)

Net income, FY2025

−22% of revenue

▼ −6% (Loss) vs FY2024 (−$42.6M, −22%)

Free cash flow, FY2025

−14% of revenue

▲ +8% (Loss) vs FY2024 (−$22.5M, −12%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −4%; vs $45.3M in Q2 FY2025
Net income: ▼ −41% (Loss); vs −$7.9M in Q2 FY2025

Sep 2, 2026 Regained compliance with NYSE minimum share-price requirement The NYSE confirmed the company met its minimum share-price requirement and would continue trading on the exchange.
Aug 6, 2026 Reduced full-year revenue and adjusted EBITDA outlook Revenue outlook fell to $168 million to $175 million from $180 million to $190 million; adjusted EBITDA outlook became negative $4 million to approximately breakeven.
Aug 6, 2026 Plans to wind down its Varsity Tutors for Schools business The company said the wind-down would let it focus on its Consumer business.

Growing. Revenue grew 27% in 4 years, from $140.7M in FY2021 to $179M in FY2025, about 6% a year.

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