Nerdy Q3 revenue $31.8M in line; Learning Membership run-rate $50.2M; guides Q4 rev $39-41M

Nerdy Inc.

2022-Q3 EPS reported -$0.32 revenue$120,863,000

Revenue $31.8M (guidance $30-33M); net loss $(32.3)M vs $(57.7)M prior year; adjusted EBITDA loss $(14.0)M at high end of guidance.
Learning Memberships hit $50.2M annualized run-rate; recognized revenue $5.8M (18% of total) vs 2% in Q2.
Institutional: 21 new contracts, $5.6M bookings; average contract value more than doubled.
Q4 guidance: revenue $39-41M, adjusted EBITDA loss $6-8M; FY2022 rev $160-162M, adjusted EBITDA loss $36-38M.
Cash $106.4M, no debt; reaffirms adjusted EBITDA profitability by end of 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nerdy Inc. reported the third quarter ended September 30, 2022 results: revenue $31.8 million.

Period: the third quarter ended September 30, 2022
Revenue: $31.8 million
Result: reported results

Exact text from the filing

We delivered revenue of $31.8 million for the third quarter, in line with our guidance range of $30-33 million.

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Source: SEC EDGAR

accession 0001193125-22-284542

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