Nerdy Q1 revenue $53.7M (+9% YoY); Learning Memberships up 34%; positive adj EBITDA $24K

Nerdy Inc.

2024-Q1 EPS reported -$0.07 revenue$53,727,000

Consumer Learning Membership revenue $39.9M (+34% YoY), 74% of total revenue; Active Members 46.1K (+40% YoY).
Institutional revenue $11.9M (+39% YoY), record; enabled 1.2M new students, total 2.2M across 475 districts.
Net loss $12.0M (incl $11.1M stock comp); non-GAAP adjusted EBITDA positive $24K vs guidance -$3M to $0.
Operating cash flow $4.4M; no debt, cash $77M. Q2 revenue guidance $50-52M; full yr reaffirmed $232-246M.
FY2024 adj EBITDA guidance $5-15M; Q2 adj EBITDA expected -$4M to -$2M.

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 first quarter ended March 31, 2024 results: revenue $53.7 million, net income net loss of $12.0 million.

Period: first quarter ended March 31, 2024
Revenue: $53.7 million
Net income: net loss of $12.0 million
Result: reported results

Exact text from the filing

and referrals between Consumer and Institutional, and ultimately improve growth and profitability. Q1 Earnings Release 2024 2 First Quarter in Review • We delivered revenue of $53.7 million, an increase of 9% year-over-year from $49.2 million during the same period in 2023. Revenue growth was driven by both our Consumer and Institutional businesses, which were up 3%

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Source: SEC EDGAR

accession 0001193125-24-133089

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