Nerdy Q2 revenue $48.8M (+16% YoY), beats guidance; positive adjusted EBITDA $1.3M

Nerdy Inc.

2023-Q2 EPS reported -$0.24 revenue$98,019,000

Revenue $48.8M (+16% YoY) above guidance $45-47M; GAAP net loss $5.6M, adjusted EBITDA positive $1.3M (beat -$3M to $0).
Learning Memberships revenue $35.6M (73% of total); Active Members 31K, ARPM ~$350, annualized run-rate ~$130M.
Institutional revenue $8.4M (+43% YoY); bookings $10.5M (+175% YoY); 48 contracts executed.
Completed shift to 100% Learning Memberships for new Consumer customers six months early; new customer additions +19% YoY.
Gross margin 69.8% (+166 bps YoY); sales & marketing efficiency improved 1100 bps.

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 0.95

Nerdy Inc. reported second quarter ended June 30, 2023 results: revenue $48.8 million, net income $5.6 million.

Period: second quarter ended June 30, 2023
Revenue: $48.8 million
Net income: $5.6 million
Result: reported results

Exact text from the filing

model. Those anticipated business model benefits are now being realized and driving substantial improvements in our operating results. In the second quarter, we recognized $48.8 million of revenue, an increase of 16% year-over-year, exceeding our guidance range of $45-47 million, and a 1,100 bps acceleration in growth over the previous quarter. The new and

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Nerdy Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-206194

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