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NRDY

Nerdy, Inc.

NRDY

Nerdy, Inc. • NYSE
$1.34 ▲ 7.20% (+0.09)
Market Cap $164.74 M
52w High $2.18
52w Low $0.77
Dividend Yield 0%
P/E -3.83
Volume 1.19M
Outstanding Shares 122.94M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $37.019M ▼ $42.378M ▲ $-12.287M ▼ -33.191% ▼ $-0.1 ▼ $-18.429M ▼
Q2-2025 $45.263M ▼ $40.13M ▼ $-7.897M ▲ -17.447% ▲ $-0.066 ▲ $-9.931M ▲
Q1-2025 $47.595M ▼ $44.196M ▼ $-10.496M ▼ -22.053% ▼ $-0.089 ▼ $-14.6M ▼
Q4-2024 $47.99M ▲ $48.241M ▼ $-10.146M ▲ -21.142% ▲ $-0.087 ▲ $-14.329M ▲
Q3-2024 $37.53M $52.177M $-15.9M -42.366% $-0.14 $-23.79M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $32.71M ▼ $70.412M ▼ $33.355M ▲ $24.272M ▼
Q2-2025 $36.722M ▼ $73.689M ▼ $24.949M ▼ $31.827M ▼
Q1-2025 $44.922M ▼ $83.032M ▼ $30.16M ▼ $34.367M ▼
Q4-2024 $52.541M ▼ $92.507M ▼ $31.394M ▼ $39.479M ▼
Q3-2024 $65.002M $106.759M $38.953M $43.328M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-18.756M ▼ $-2.424M ▲ $-1.718M ▼ $0 $-4.144M ▲ $-4.142M ▲
Q2-2025 $-12.001M ▲ $-7.045M ▼ $-1.158M ▲ $0 $-8.2M ▼ $-8.203M ▼
Q1-2025 $-16.151M ▼ $-6.444M ▲ $-1.175M ▼ $0 $-7.619M ▲ $-7.619M ▲
Q4-2024 $-15.771M ▲ $-11.315M ▼ $-1.163M ▲ $0 $-12.461M ▼ $-12.478M ▼
Q3-2024 $-24.958M $-3.053M $-1.945M $0 $-5.02M $-4.998M

Revenue by Products

Product Q3-2021Q4-2021
Online
Online
 $30.00M ▲$40.00M ▲
Inperson
Inperson
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last several years, and gross profit has risen along with it, suggesting the core business has solid unit economics and attractive margins. However, the company is still operating at a loss: operating income, EBITDA, and net income have all been negative every year. Losses narrowed meaningfully from the early years but have recently stalled, with profitability still out of reach. In simple terms, the business model is gaining scale and efficiency, but the company has not yet converted growth and high gross margins into bottom‑line profits.

Balance Sheet

Balance Sheet The balance sheet is relatively simple and fairly conservative. Total assets have come down from earlier peak levels but remain comfortably above liabilities, and cash makes up a large share of those assets. The company eliminated its earlier debt and is currently essentially debt‑free, which lowers financial risk and interest burden. Shareholders’ equity has moved from negative to clearly positive and has held fairly steady, indicating that while the firm is not yet profitable, it is not rapidly eroding its capital base. The main watchpoint is that the asset and cash cushions are smaller than a few years ago, so the margin for error is not unlimited.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, but the cash burn has moderated compared with the more aggressive spending period in the past. Free cash flow tracks operating cash flow closely, because capital spending is modest and relatively stable. This means most of the cash usage is driven by ongoing operating losses rather than heavy investment in physical assets. The pattern points to a business that has been tightening spending but still relies on its cash reserves to fund growth and the transition toward profitability. Sustained improvement in operating cash flow will be critical over the next phase.

Competitive Edge

Competitive Edge Nerdy sits in a competitive education‑technology space but is trying to differentiate itself with its AI‑driven “Live + AI” platform and strong focus on personalized live instruction. Its large network of tutors, proprietary matching algorithms, and extensive dataset from many hours of live teaching create both network effects and a data advantage that are not trivial to replicate. The Varsity Tutors brand adds recognition and trust, especially in North America, and school‑district partnerships broaden its reach beyond individual consumers. At the same time, it competes with well‑funded edtech and homework‑help platforms, so continued product differentiation, marketing effectiveness, and proof of superior learning outcomes will heavily influence its long‑term position.

Innovation and R&D

Innovation and R&D Innovation is clearly at the center of Nerdy’s strategy. The company has embedded generative AI into key parts of the experience: student‑tutor matching, AI assistants for students, in‑session copilot tools for tutors, auto‑generated lesson plans, and post‑session summaries. Its new “AI‑native” live learning platform aims to make teaching more efficient and learning more engaging, while the subscription model and school‑focused offerings are product innovations on the business side. Future upside depends on continuing to roll out impactful AI features, deepening integrations with schools, and possibly creating new data‑driven services. The main risk is execution: the company must keep innovating quickly while also proving that these tools materially improve outcomes and economics.

Summary

Nerdy is an AI‑driven education platform with solid revenue growth, strong gross margins, and a differentiated technology‑first approach in online learning, particularly in live tutoring. Financially, it remains loss‑making and cash‑consuming, though its balance sheet is currently clean and debt‑free with a meaningful, if shrinking, cash cushion. The strategic shift to subscriptions and institutional school partnerships, combined with its proprietary AI and data assets, could strengthen its competitive moat if executed well. The key questions going forward are whether Nerdy can turn its technological lead and brand into sustained operating profitability and positive cash flow before its financial flexibility narrows, and how effectively it can stand out in a crowded edtech landscape.

NEWS

November 6, 2025 · 4:05 PM UTC

Nerdy Announces Third Quarter 2025 Financial Results

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October 30, 2025 · 4:10 PM UTC

Nerdy to Announce Third Quarter 2025 Results on November 6, 2025

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October 1, 2025 · 7:00 AM UTC

Varsity Tutors Introduces New Live+AI™ Tools and Capabilities That Teachers and School Administrators Can Use to Support Student Learning

Read more