$NRDY
Nerdy Inc

2022 Q2 Form 10-Q Financial Statement

#000181940422000076 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $42.19M $42.02M $32.79M
YoY Change 28.67%
Cost Of Revenue $13.43M $13.36M $11.51M
YoY Change 16.66% 53.1%
Gross Profit $28.76M $28.66M $21.27M
YoY Change 35.17% 51.41%
Gross Profit Margin 68.16% 68.21% 64.88%
Selling, General & Admin $50.76M $51.98M $28.69M
YoY Change 76.92% 69.88%
% of Gross Profit 176.53% 181.37% 134.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0K $1.628M $200.0K
YoY Change 35.0% -46.8% -93.31%
% of Gross Profit 0.94% 5.68% 0.94%
Operating Expenses $50.76M $55.22M $28.69M
YoY Change 76.92% 3913.05% 3297831.03%
Operating Profit -$22.01M -$26.57M -$7.419M
YoY Change 196.63% 854623.5%
Interest Expense $37.34M $59.70M -$2.502M
YoY Change -1592.45% -287.02%
% of Operating Profit
Other Income/Expense, Net -$57.00K -$27.00K -$58.00K
YoY Change -1.72% 480.0%
Pretax Income $15.28M $33.11M -$336.0K
YoY Change -4646.73% -199.43% 38520.69%
Income Tax $0.00 $5.000K $0.00
% Of Pretax Income 0.0% 0.02%
Net Earnings $8.695M $17.50M $0.00
YoY Change -152.55% -100.0%
Net Earnings / Revenue 20.61% 41.64% 0.0%
Basic Earnings Per Share $0.10 $0.00
Diluted Earnings Per Share $0.09 $220.8K $0.00
COMMON SHARES
Basic Shares Outstanding 86.37M shares 0.000 shares
Diluted Shares Outstanding 88.60M shares 0.000 shares

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.0M $144.0M $1.122M
YoY Change 10683.23% 26854.5% 4371.46%
Cash & Equivalents $121.0M $144.0M $14.72M
Short-Term Investments
Other Short-Term Assets $4.133M $6.165M $241.5K
YoY Change 1611.46% 238.55% 1624.93%
Inventory
Prepaid Expenses $3.590M
Receivables $2.837M $5.321M $1.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $127.9M $155.5M $1.363M
YoY Change 9284.47% 392.54% 3387.8%
LONG-TERM ASSETS
Property, Plant & Equipment $11.70M $10.72M $9.900M
YoY Change 18.15% 4.09%
Goodwill $5.717M $5.717M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $450.0M
YoY Change
Other Assets $4.408M $832.0K $3.400M
YoY Change 29.65% -28.58%
Total Long-Term Assets $25.70M $21.70M $450.0M
YoY Change -94.29% -15.63%
TOTAL ASSETS
Total Short-Term Assets $127.9M $155.5M $1.363M
Total Long-Term Assets $25.70M $21.70M $450.0M
Total Assets $153.6M $177.1M $451.4M
YoY Change -65.96% 209.29% 1154627.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.320M $3.590M $5.200M
YoY Change -36.15% -19.25%
Accrued Expenses $1.675M $4.717M
YoY Change -64.49% 20016.08%
Deferred Revenue $22.56M $30.01M
YoY Change 73.74%
Short-Term Debt $0.00 $0.00 $2.000M
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $35.01M $41.91M $57.24M
YoY Change -38.85% 22.04% 243996.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $15.11M $39.43M $1.500M
YoY Change 907.47% 2437.39%
Total Long-Term Liabilities $15.11M $39.43M $0.00
YoY Change -7.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.01M $41.91M $57.24M
Total Long-Term Liabilities $15.11M $39.43M $0.00
Total Liabilities $50.12M $81.34M $57.24M
YoY Change -12.44% 5.72% 243996.16%
SHAREHOLDERS EQUITY
Retained Earnings -$447.9M -$439.7M -$55.88M
YoY Change 701.49% 6.63%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.11M $50.66M -$55.88M
YoY Change
Total Liabilities & Shareholders Equity $153.6M $177.1M $451.4M
YoY Change -65.96% 209.29% 1154627.34%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $8.695M $17.50M $0.00
YoY Change -152.55% -100.0%
Depreciation, Depletion And Amortization $270.0K $1.628M $200.0K
YoY Change 35.0% -46.8% -93.31%
Cash From Operating Activities -$19.26M -$18.94M -$586.8K
YoY Change 3182.32% 3919.1% -652077.78%
INVESTING ACTIVITIES
Capital Expenditures -$1.450M -$1.394M $2.120M
YoY Change -168.4% -189.94% 60.61%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.450M -$1.394M -$2.120M
YoY Change -31.6% -99.69% 60.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.00K -42.44M 0.000
YoY Change -109.41% -100.0%
NET CHANGE
Cash From Operating Activities -19.26M -18.94M -586.8K
Cash From Investing Activities -1.450M -1.394M -2.120M
Cash From Financing Activities -21.00K -42.44M 0.000
Net Change In Cash -20.73M -62.77M -586.8K
YoY Change 3433.01% -15477.87% -2438.7%
FREE CASH FLOW
Cash From Operating Activities -$19.26M -$18.94M -$586.8K
Capital Expenditures -$1.450M -$1.394M $2.120M
Free Cash Flow -$17.81M -$17.55M -$2.707M
YoY Change 557.98% 768.15% 105.07%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Fiscal Period Focus
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dei Amendment Flag
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
EntityRegistrantName
NERDY INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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CY2021Q4 nrdy Warrants Held By Nerdy Inc
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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16135000 usd
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28467000 usd
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20600000 usd
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17749000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
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11697000 usd
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10718000 usd
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1169000 usd
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1112000 usd
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2333000 usd
us-gaap Capitalized Computer Software Amortization1
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2245000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
270000 usd
CY2021Q2 us-gaap Depreciation
Depreciation
200000 usd
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Depreciation
528000 usd
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Depreciation
384000 usd
CY2022Q2 us-gaap Finite Lived Trade Names Gross
FiniteLivedTradeNamesGross
6073000 usd
CY2022Q2 nrdy Finite Lived Trade Names Accumulated Amortization
FiniteLivedTradeNamesAccumulatedAmortization
2205000 usd
CY2022Q2 nrdy Finite Lived Trade Names Net
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3868000 usd
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6073000 usd
CY2021Q4 nrdy Finite Lived Trade Names Accumulated Amortization
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1913000 usd
CY2021Q4 nrdy Finite Lived Trade Names Net
FiniteLivedTradeNamesNet
4160000 usd
CY2022Q2 nrdy Finite Lived Intangible Assets Foreign Currency Translation Gain Loss Carrying Amount
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLossCarryingAmount
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9000 usd
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FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLossCarryingAmount
252000 usd
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FiniteLivedIntangibleAssetsForeignCurrencyTranslationAdjustmentGainLossNetAmount
268000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
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5964000 usd
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2087000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
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3877000 usd
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6325000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1897000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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4428000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
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151000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
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268000 usd
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308000 usd
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536000 usd
CY2022Q2 nrdy Number Of Finance Lease Agreements
NumberOfFinanceLeaseAgreements
0 agreement
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3576000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
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1675000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
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2545000 usd
CY2022Q2 us-gaap Operating Lease Liability
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4220000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
897000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1622000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1273000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
644000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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0 usd
CY2022Q2 nrdy Lessee Operating Lease Liability To Be Paid After Year Four
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0 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4436000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
216000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4220000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1749000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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1599000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1250000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
632000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
0 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5230000 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
385000 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
263000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
770000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
530000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
33000 usd
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
50000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
250000 usd
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
104000 usd
us-gaap Sublease Income
SubleaseIncome
500000 usd
us-gaap Sublease Income
SubleaseIncome
207000 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M21D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0309
CY2021Q2 nrdy Reverse Recapitalization Exchange Ratio
ReverseRecapitalizationExchangeRatio
0.64

Files In Submission

Name View Source Status
nrdy-20220630_def.xml Edgar Link unprocessable
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0001819404-22-000076-index.html Edgar Link pending
0001819404-22-000076.txt Edgar Link pending
0001819404-22-000076-xbrl.zip Edgar Link pending
ex101-ianclarksonagreement.htm Edgar Link pending
ex311-nerdy6302022.htm Edgar Link pending
ex312-nerdy6302022.htm Edgar Link pending
ex321-nerdy6302022.htm Edgar Link pending
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