secwatch.observer — SEC 8-K summary
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Issuer:     Nerdy Inc. (NRDY)
CIK:        0001819404
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001193125-23-206194
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819404/000119312523206194/0001193125-23-206194-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819404/000119312523206194/d502883d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-206194

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