---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-139405"
form_type: "8-K"
ticker: "NRDY"
cik: "0001819404"
company_name: "Nerdy Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:47:17.053970+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nerdy Q1 rev $49.2M above guidance; turns EBITDA positive at $1.4M

## Summary
- Revenue of $49.2M up 5% YoY, above $45-47M guidance; returned to growth after J-Curve transition.
- Adjusted EBITDA profitability $1.4M, nine months ahead of plan; operating cash flow $6.8M, free cash flow $5.8M.
- Learning Memberships 60% of total revenue with annualized run-rate $143M, active members 32.9K.
- Institutional revenue record $8.5M, up 32% YoY; 97 contracts booked totaling $6.3M in Q1.
- Launched AI-Enabled Chat Tutoring and AI Lesson Plan Generator; 30% of code now AI-written.

## SEC filing metadata
- accession: 0001193125-23-139405
- form_type: 8-K
- ticker: NRDY
- cik: 0001819404
- company_name: Nerdy Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819404/000119312523139405/0001193125-23-139405-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819404/000119312523139405/d469463d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-139405
- JSON: https://secwatch.observer/filing/0001193125-23-139405.json
- Plain text: https://secwatch.observer/filing/0001193125-23-139405.txt

## Key facts
- Earnings Releases
  Nerdy Inc. reported first quarter ended March 31, 2023 results: revenue $49.2 million.
  - Period: first quarter ended March 31, 2023
  - Revenue: $49.2 million
  - Result: reported results
  source text: and that we anticipated achieving adjusted EBITDA profitability by the end of 2023. ● We exited the ‘J-Curve’ business model transition and returned to growth delivering $49.2 million of revenue, above our guidance range of $45-47 million. ● Learning Membership subscriptions accounted for 60% of total company recognized revenue, up from nearly 0% in the first
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819404/000119312523139405/0001193125-23-139405-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.