Nerdy Q3 revenue $31.3M (+19%), launches K12 institutional strategy; guides Q4 rev $40-43M

Nerdy Inc.

2021-Q3 EPS reported -$0.27 revenue$98,649,000

Revenue $31.3M (+19% YoY); net loss $57.7M incl $7.2M transaction costs; adjusted EBITDA loss $11.7M.
Active Learners 52k (+36% YoY), Online Sessions 451k (+45%); bookings $44.5M (+32% YoY).
Launched Varsity Tutors for Schools with 47 contracts signed worth ~$10M annual contract value.
Q4 2021 revenue guidance $40-43M (midpoint +25% YoY); full-year $138-141M (+35% midpoint).
Completed SPAC merger with TPG Pace on Sep 20; $170M cash and no debt.

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