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Nerdy Inc. operates platform for live online learning in the United States. The company's platform uses artificial intelligence to connect students, users, parents, guardians, and purchasers of various ages to tutors, instructors, subject matter experts, educators, and other professionals. Its learning destination provides learning experiences across various subjects and multiple formats, including one-on-one instruction, small group tutoring, large format classes, tutor chat, essay review, adaptive assessment, and self-study tools. The company operates Varsity Tutors and Varsity Tutors for Schools platform for live online tutoring and classes. It provides solutions directly to learners, as well as through education systems. Nerdy Inc. was founded in 2007 and is headquartered in Saint Louis, Missouri.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $179M | $-54M | $-40M | $-24M | -138.0% | -5.9% | - |
| 2024 | $190M | $-63M | $-43M | $-22M | -69.7% | -1.6% | - |
| 2023 | $193M | $-51M | $-40M | $-14M | -46.9% | 18.9% | - |
| 2022 | $163M | $-84M | $-35M | $-53M | -43.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 162.66 | 193.40 | 190.23 | 178.99 |
| Cost Of Revenue | 49.73 | 56.95 | 61.84 | 75.21 |
| Gross Profit | 112.93 | 136.45 | 128.39 | 103.78 |
| Operating Expense | 203.74 | 194.02 | 198.50 | 165.64 |
| Operating Income | -90.81 | -57.57 | -70.11 | -61.86 |
| EBITDA | -84.29 | -50.80 | -62.54 | -54.23 |
| EBIT | -90.81 | -57.57 | -70.11 | -61.86 |
| Pretax Income | -63.89 | -67.56 | -67.03 | -60.79 |
| Tax Provision | 0.02 | 0.11 | 0.12 | 0.16 |
| Net Income | -35.40 | -40.17 | -42.59 | -39.92 |
| Net Income Common Stockholders | -35.40 | -40.17 | -42.59 | -39.92 |
| Total Expenses | 253.47 | 250.97 | 260.34 | 240.85 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 0.48 | 3.38 | 3.10 | 1.07 |
| Selling General And Administration | 203.74 | 194.02 | 198.50 | 165.64 |
| Normalized EBITDA | -110.91 | -37.41 | -62.54 | -54.23 |
| Normalized Income | -56.43 | -29.60 | -42.59 | -39.92 |
| Basic EPS | -0.41 | -0.41 | -0.38 | 0 |
| Diluted EPS | -0.41 | -0.41 | -0.38 | 0 |
| Tax Effect Of Unusual Items | 5.59 | -2.81 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | 26.62 | -13.38 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 26.62 | -13.38 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -35.40 | -40.17 | -42.59 | -39.92 |
| Reconciled Depreciation | 6.52 | 6.77 | 7.57 | 7.63 |
| Reconciled Cost Of Revenue | 49.73 | 56.95 | 61.84 | 75.21 |
| Net Interest Income | 0.48 | 3.38 | 3.10 | 1.07 |
| Net Income From Continuing And Discontinued Operation | -35.40 | -40.17 | -42.59 | -39.92 |
| Total Operating Income As Reported | -90.81 | -57.57 | -70.11 | -61.86 |
| Diluted Average Shares | 85.87 | 97.16 | 111.69 | 0 |
| Basic Average Shares | 85.87 | 97.16 | 111.69 | 0 |
| Diluted NI Availto Com Stockholders | -35.40 | -40.17 | -42.59 | -39.92 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Minority Interests | 28.51 | 27.50 | 24.56 | 21.03 |
| Net Income Including Noncontrolling Interests | -63.91 | -67.67 | -67.14 | -60.95 |
| Net Income Continuous Operations | -63.91 | -67.67 | -67.14 | -60.95 |
| Other Income Expense | 26.44 | -13.37 | -0.02 | 0 |
| Other Non Operating Income Expenses | -0.18 | 0.02 | -0.02 | 0 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | 26.62 | -13.38 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0.48 | 3.38 | 3.10 | 1.07 |
| Total Other Finance Cost | -0.48 | -3.38 | 0 | 0 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 0.48 | 3.38 | 3.10 | 1.07 |
| Selling And Marketing Expense | 74.18 | 68.45 | 71.62 | 60.12 |
| General And Administrative Expense | 129.56 | 125.57 | 126.88 | 105.52 |
| Other Gand A | 129.56 | 125.57 | 126.88 | 105.52 |
| Operating Revenue | 162.66 | 193.40 | 190.23 | 178.99 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Nerdy Inc.this co. | NRDY | $218M | - | 5.75 | -138.0% | -1.79 |
| Blaize Holdings, Inc. | BZAI | $234M | - | 5.97 | -530.5% | -2.12 |
| M-tron Industries, Inc. | MPTI | $233M | 24.96 | 3.42 | 13.4% | 18.05 |
| Commerce.com, Inc. | CMRC | $230M | - | 5.79 | -49.1% | 28.41 |
| Turtle Beach Corporation | TBCH | $223M | 14.60 | 1.68 |
| 12.2% |
| 8.87 |
| Kaltura, Inc. | KLTR | $211M | - | 33.02 | -190.7% | 236.12 |
| MicroVision, Inc. | MVIS | $208M | - | 3.52 | -171.0% | -2.34 |
| eGain Corporation | EGAN | $201M | 5.79 | 2.27 | 40.0% | 14.32 |
| Richardson Electronics, Ltd. | RELL | $200M | 50.93 | 1.25 | -0.7% | 29.40 |
| Peer Median | - | 19.78 | 3.47 | -24.9% | 16.18 | |