secwatch.observer — SEC 8-K summary
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Issuer:     Nerdy Inc. (NRDY)
CIK:        0001819404
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0001193125-22-151700
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nerdy posts record Q1 revenue $46.9M (+36% YoY); COO Ian Clarkson departs
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- Revenue $46.9M (record), bookings $48.5M, net loss ($31.7M) vs ($5.7M) YoY.
- Non-GAAP adjusted EBITDA loss ($6.6M) vs ($0.3M); cash $141.7M, no debt.
- Active Learners +56%, Online Sessions +57%, Active Experts +37%.
- Small class/group revenue $6.4M (+243%); Varsity Tutors for Schools $4.6M (10% rev), 61 new contracts.
- President & COO Ian Clarkson departed May 13; will consult 9 months, equity adjustments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819404/000119312522151700/0001193125-22-151700-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819404/000119312522151700/d668525d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-151700

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer