secwatch.observer — SEC 8-K summary
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Issuer:     Nerdy Inc. (NRDY)
CIK:        0001819404
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001193125-23-139405
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819404/000119312523139405/0001193125-23-139405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819404/000119312523139405/d469463d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-139405

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