Nerdy Q3 revenue $37.5M (-7% YoY); net loss $25.0M; adj. EBITDA loss $14.0M beats guidance

Nerdy Inc.

2024-Q3 EPS reported -$0.29 revenue$142,241,000

Revenue $37.5M (down 7% YoY from $40.3M); gross margin 70.5% vs. 72.4% a year ago.
Net loss $25.0M vs. $20.6M YoY; non-GAAP adj. net loss $15.1M.
Adjusted EBITDA loss of $14.0M beat guidance range of -$17M to -$19M.
Active Members 39.7K (up 1% YoY); ARPM $302 vs. $346 a year ago; Learning Membership revenue $31.4M (84% of total).
Institutional revenue $5.4M; 117 contracts ($8.5M bookings); 32% of paid contracts from free-access conversions.

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