2022 Q4 Form 10-K Financial Statement

#000181940423000013 Filed on February 28, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $41.80M $162.7M $42.02M
YoY Change -0.51% 15.64%
Cost Of Revenue $12.31M $49.73M $13.36M
YoY Change -7.8% 6.49%
Gross Profit $29.49M $112.9M $28.66M
YoY Change 2.89% 20.19%
Gross Profit Margin 70.54% 69.43% 68.21%
Selling, General & Admin $49.51M $203.7M $51.98M
YoY Change -4.74% 8.72%
% of Gross Profit 167.91% 180.41% 181.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.699M $1.054M $1.628M
YoY Change 4.36% 26.23% -46.8%
% of Gross Profit 5.76% 0.93% 5.68%
Operating Expenses $49.92M $203.7M $55.22M
YoY Change -9.6% 8.72% 3913.05%
Operating Profit -$20.43M -$90.81M -$26.57M
YoY Change -23.08% -5.85%
Interest Expense $5.311M $27.10M $59.70M
YoY Change -91.1% 614.93% -287.02%
% of Operating Profit
Other Income/Expense, Net -$34.00K -$183.0K -$27.00K
YoY Change 25.93% -97.86%
Pretax Income -$15.16M -$63.89M $33.11M
YoY Change -145.78% 108.52% -199.43%
Income Tax -$16.00K $19.00K $5.000K
% Of Pretax Income 0.02%
Net Earnings -$8.733M -$35.40M $17.50M
YoY Change -149.91% 836.73% -152.55%
Net Earnings / Revenue -20.89% -21.76% 41.64%
Basic Earnings Per Share -$0.41
Diluted Earnings Per Share -$0.10 -$0.41 $220.8K
COMMON SHARES
Basic Shares Outstanding 85.87M shares
Diluted Shares Outstanding 85.87M shares

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.72M $90.72M $144.0M
YoY Change -36.99% -36.99% 26854.5%
Cash & Equivalents $90.72M $90.72M $144.0M
Short-Term Investments
Other Short-Term Assets $5.345M $5.345M $6.165M
YoY Change -13.3% -13.3% 238.55%
Inventory
Prepaid Expenses $3.708M $3.590M
Receivables $11.60M $11.60M $5.321M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $107.7M $107.7M $155.5M
YoY Change -30.75% -30.75% 392.54%
LONG-TERM ASSETS
Property, Plant & Equipment $12.50M $15.43M $10.72M
YoY Change 16.66% 43.95% 4.09%
Goodwill $5.717M $5.717M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.241M $316.0K $832.0K
YoY Change 289.54% -62.02% -28.58%
Total Long-Term Assets $25.04M $25.04M $21.70M
YoY Change 15.4% 15.4% -15.63%
TOTAL ASSETS
Total Short-Term Assets $107.7M $107.7M $155.5M
Total Long-Term Assets $25.04M $25.04M $21.70M
Total Assets $132.7M $132.7M $177.1M
YoY Change -25.09% -25.09% 209.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.199M $3.199M $3.590M
YoY Change -10.89% -10.89% -19.25%
Accrued Expenses $1.528M $3.963M
YoY Change 3.02%
Deferred Revenue $25.54M $30.01M
YoY Change -14.88% 73.74%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $37.33M $37.33M $41.91M
YoY Change -10.92% -10.92% 22.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $14.31M $14.31M $39.43M
YoY Change -63.71% -63.71% 2437.39%
Total Long-Term Liabilities $14.31M $14.31M $39.43M
YoY Change -63.71% -63.71% -7.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.33M $37.33M $41.91M
Total Long-Term Liabilities $14.31M $14.31M $39.43M
Total Liabilities $51.64M $85.76M $81.34M
YoY Change -36.51% -32.19% 5.72%
SHAREHOLDERS EQUITY
Retained Earnings -$475.1M -$439.7M
YoY Change 8.05% 6.63%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.93M $46.93M $50.66M
YoY Change
Total Liabilities & Shareholders Equity $132.7M $132.7M $177.1M
YoY Change -25.09% -25.09% 209.29%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income -$8.733M -$35.40M $17.50M
YoY Change -149.91% 836.73% -152.55%
Depreciation, Depletion And Amortization $1.699M $1.054M $1.628M
YoY Change 4.36% 26.23% -46.8%
Cash From Operating Activities -$14.53M -$48.00M -$18.94M
YoY Change -23.28% 23.43% 3919.1%
INVESTING ACTIVITIES
Capital Expenditures $978.0K $5.317M -$1.394M
YoY Change -170.16% 2.98% -189.94%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$978.0K -$5.317M -$1.394M
YoY Change -29.84% 2.98% -99.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -137.0K -$1.000M -42.44M
YoY Change -99.68% -100.63% -109.41%
NET CHANGE
Cash From Operating Activities -14.53M -$48.00M -18.94M
Cash From Investing Activities -978.0K -$5.317M -1.394M
Cash From Financing Activities -137.0K -$1.000M -42.44M
Net Change In Cash -15.65M -$54.33M -62.77M
YoY Change -75.07% -147.16% -15477.87%
FREE CASH FLOW
Cash From Operating Activities -$14.53M -$48.00M -$18.94M
Capital Expenditures $978.0K $5.317M -$1.394M
Free Cash Flow -$15.51M -$53.32M -$17.55M
YoY Change -11.61% 21.03% 768.15%

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CY2022 us-gaap Gains Losses On Extinguishment Of Debt
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0 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
7117000 usd
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
47244000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
54417000 usd
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
1730000 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3009000 usd
CY2020 us-gaap Impairment Of Intangible Assets Finitelived
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0 usd
CY2022 us-gaap Amortization Of Financing Costs
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0 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
493000 usd
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
657000 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-24000 usd
CY2020 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-458000 usd
CY2022 nrdy Reverse Recapitalization Costs Allocated To Warrants And Earnouts
ReverseRecapitalizationCostsAllocatedToWarrantsAndEarnouts
0 usd
CY2021 nrdy Reverse Recapitalization Costs Allocated To Warrants And Earnouts
ReverseRecapitalizationCostsAllocatedToWarrantsAndEarnouts
1604000 usd
CY2020 nrdy Reverse Recapitalization Costs Allocated To Warrants And Earnouts
ReverseRecapitalizationCostsAllocatedToWarrantsAndEarnouts
0 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6275000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4846000 usd
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-283000 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-125000 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2902000 usd
CY2020 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-343000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1232000 usd
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-16000 usd
CY2020 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
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CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-391000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-856000 usd
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2179000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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-4466000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
12735000 usd
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
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2547000 usd
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-188000 usd
CY2021 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
1111000 usd
CY2020 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
2066000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1276000 usd
CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1248000 usd
CY2020 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1554000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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5317000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5163000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2874000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 nrdy Proceeds From Reverse Recapitalization
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0 usd
CY2021 nrdy Proceeds From Reverse Recapitalization
ProceedsFromReverseRecapitalization
557574000 usd
CY2020 nrdy Proceeds From Reverse Recapitalization
ProceedsFromReverseRecapitalization
0 usd
CY2022 nrdy Payments To Legacy Investors
PaymentsToLegacyInvestors
767000 usd
CY2021 nrdy Payments To Legacy Investors
PaymentsToLegacyInvestors
336079000 usd
CY2020 nrdy Payments To Legacy Investors
PaymentsToLegacyInvestors
0 usd
CY2022 nrdy Payments Of Reverse Recapitalization Costs
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0 usd
CY2021 nrdy Payments Of Reverse Recapitalization Costs
PaymentsOfReverseRecapitalizationCosts
21638000 usd
CY2020 nrdy Payments Of Reverse Recapitalization Costs
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0 usd
CY2022 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 usd
CY2021 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
11000000 usd
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
4000000 usd
CY2022 us-gaap Proceeds From Notes Payable
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0 usd
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2020 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
8293000 usd
CY2022 us-gaap Repayments Of Debt
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0 usd
CY2021 us-gaap Repayments Of Debt
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50000000 usd
CY2020 us-gaap Repayments Of Debt
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0 usd
CY2022 us-gaap Payments Of Debt Extinguishment Costs
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0 usd
CY2021 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
1607000 usd
CY2020 us-gaap Payments Of Debt Extinguishment Costs
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0 usd
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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-233000 usd
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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0 usd
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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0 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
159250000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12293000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-13000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1000 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-54332000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
115197000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2786000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145879000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30682000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27896000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
91547000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145879000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30682000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
44000 usd
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
28000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
4069000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
4148000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
38000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-156391000 usd
CY2020 nrdy Net Income Loss Attributable To Legacy Investors Prior To Reverse Recapitalization
NetIncomeLossAttributableToLegacyInvestorsPriorToReverseRecapitalization
-24663000 usd
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1730000 usd
CY2020 nrdy Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Not Of Tax Attributable To Legacy Investors Prior To Reverse Recapitalization
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNotOfTaxAttributableToLegacyInvestorsPriorToReverseRecapitalization
120000 usd
CY2020 nrdy Temporary Equity Shares Redeemable Preferred Stock Value
TemporaryEquitySharesRedeemablePreferredStockValue
-219257000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-398461000 usd
nrdy Net Income Loss Attributable To Legacy Investors Prior To Reverse Recapitalization
NetIncomeLossAttributableToLegacyInvestorsPriorToReverseRecapitalization
-23546000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1451000 usd
nrdy Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Not Of Tax Attributable To Legacy Investors Prior To Reverse Recapitalization
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNotOfTaxAttributableToLegacyInvestorsPriorToReverseRecapitalization
13000 usd
CY2021 nrdy Reverse Recapitalization Net
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470011000 usd
us-gaap Profit Loss
ProfitLoss
-7133000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
53509000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-39000 usd
nrdy Rebalancing Of Ownership Percentage Between Parent And Noncontrolling Interests
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0 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
95805000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-63908000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
49651000 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-266000 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-232000 usd
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 usd
CY2022 nrdy Rebalancing Of Ownership Percentage Between Parent And Noncontrolling Interests
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0 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
81050000 usd
CY2021Q3 nrdy Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
30099000 usd
CY2021Q3 nrdy Class Of Warrant Or Right Redemption Threshold Trading Days
ClassOfWarrantOrRightRedemptionThresholdTradingDays
20 day
CY2021Q3 nrdy Class Of Warrant Or Right Redemption Threshold Consecutive Trading Days
ClassOfWarrantOrRightRedemptionThresholdConsecutiveTradingDays
30 day
CY2021Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2021Q4 nrdy Warrants Held By Nerdy Inc
WarrantsHeldByNerdyInc
22000 shares
CY2022Q4 nrdy Warrants Held By Nerdy Inc
WarrantsHeldByNerdyInc
22000 shares
CY2021Q4 nrdy Earnouts Held By Nerdy Inc
EarnoutsHeldByNerdyInc
36000 shares
CY2022Q4 nrdy Earnouts Held By Nerdy Inc
EarnoutsHeldByNerdyInc
36000 shares
CY2021Q3 nrdy Reverse Recapitalization Exchange Ratio
ReverseRecapitalizationExchangeRatio
0.64
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-3779000 usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3354000 usd
CY2021 nrdy Net Income Loss Attributable To Legacy Investors Prior To Reverse Recapitalization
NetIncomeLossAttributableToLegacyInvestorsPriorToReverseRecapitalization
-23546000 usd
CY2020 nrdy Net Income Loss Attributable To Legacy Investors Prior To Reverse Recapitalization
NetIncomeLossAttributableToLegacyInvestorsPriorToReverseRecapitalization
-24663000 usd
CY2022Q4 nrdy Reverse Recapitalization Right To Appoint Number Of Directors
ReverseRecapitalizationRightToAppointNumberOfDirectors
3 manager
CY2022Q4 nrdy Reverse Recapitalization Number Of Directors
ReverseRecapitalizationNumberOfDirectors
5 manager
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities; the disclosure of contingent liabilities at the date of the financial statements; and the reported amounts of revenues and expenses during the reporting periods. Significant estimates, assumptions, and judgments are used for, but not limited to: revenue recognition, stock-based compensation expense, the valuation of the Earnouts and the Founder’s Award (as defined in Note 18), impairment of goodwill, long-lived assets and definite-lived intangible assets,, internal-use software, and website development costs. The Company bases its estimates on historical experience, knowledge of current business conditions, and various other factors it believes to be reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions the Company may undertake in the future. Actual results could differ from these estimates, and such differences could be material to its financial position and operating cash flows.</span></div>
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q4 us-gaap Prepaid Expense Current
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3708000 usd
CY2021Q4 us-gaap Prepaid Expense Current
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3590000 usd
CY2022Q4 us-gaap Goodwill
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5717000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
5717000 usd
CY2022 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P10Y
CY2022 us-gaap Marketing Expense
MarketingExpense
45113000 usd
CY2021 us-gaap Marketing Expense
MarketingExpense
44393000 usd
CY2020 us-gaap Marketing Expense
MarketingExpense
29293000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
868000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
337000 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
138000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
11596000 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5321000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
25539000 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
30005000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
858000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
477000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
19000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
40000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
19000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
40000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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0 usd
us-gaap Deferred Federal Income Tax Expense Benefit
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0 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-63889000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7093000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.0003
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.0056
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-13417000 usd
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1489000 usd
CY2022 nrdy Effective Income Tax Rate Reconciliation Deduction Partnership Outside Basis Adjustment Amount
EffectiveIncomeTaxRateReconciliationDeductionPartnershipOutsideBasisAdjustmentAmount
3840000 usd
nrdy Effective Income Tax Rate Reconciliation Deduction Partnership Outside Basis Adjustment Amount
EffectiveIncomeTaxRateReconciliationDeductionPartnershipOutsideBasisAdjustmentAmount
8827000 usd
CY2022 us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
-7085000 usd
us-gaap Income Tax Reconciliation Minority Interest Income Expense
IncomeTaxReconciliationMinorityInterestIncomeExpense
-797000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
14301000 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9812000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-2406000 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-190000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1704000 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-63000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000 usd
CY2022Q4 us-gaap Deferred Tax Assets Investment In Subsidiaries
DeferredTaxAssetsInvestmentInSubsidiaries
63501000 usd
CY2022Q4 nrdy Deferred Tax Assets Liabilities Investments In Subsidiaries Net
DeferredTaxAssetsLiabilitiesInvestmentsInSubsidiariesNet
63501000 usd
CY2021Q4 us-gaap Deferred Tax Assets Investment In Subsidiaries
DeferredTaxAssetsInvestmentInSubsidiaries
54527000 usd
CY2021Q4 nrdy Deferred Tax Assets Liabilities Investments In Subsidiaries Net
DeferredTaxAssetsLiabilitiesInvestmentsInSubsidiariesNet
54527000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
23095000 usd
CY2022Q4 nrdy Deferred Tax Assets Liabilities Operating Loss Carry Forwards Net
DeferredTaxAssetsLiabilitiesOperatingLossCarryForwardsNet
23095000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5829000 usd
CY2021Q4 nrdy Deferred Tax Assets Liabilities Operating Loss Carry Forwards Net
DeferredTaxAssetsLiabilitiesOperatingLossCarryForwardsNet
5829000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
178000 usd
CY2022Q4 nrdy Deferred Tax Asset Liabilities Other Net
DeferredTaxAssetLiabilitiesOtherNet
178000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
127000 usd
CY2021Q4 nrdy Deferred Tax Asset Liabilities Other Net
DeferredTaxAssetLiabilitiesOtherNet
127000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
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