---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-269494"
form_type: "8-K"
ticker: "NRDY"
cik: "0001819404"
company_name: "Nerdy Inc."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:57:03.615858+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nerdy Q3 revenue $37.0M (-1% YoY); adjusted EBITDA loss $10.2M beats guidance; Q4 rev guidance $45-47M

## Summary
- Net loss $18.7M vs $25.0M a year ago; non-GAAP adjusted EBITDA loss $10.2M beats guidance range ($11M-$13M loss).
- Active Members 34.3k (down YoY) but ARPM up 24% to $374; Learning Membership revenue $33.0M (+5% YoY).
- Institutional bookings $6.8M (-20% YoY); revenue $3.7M (10% of total); federal/state funding delays cited.
- Entered $50M term loan on Nov 3; borrowed $20M initially; cash balance $32.7M as of Sep 30; Q4 end cash expected $45-48M.
- Q4 revenue guidance $45-47M; full-year revenue $175-177M; Q4 adjusted EBITDA loss -$2M to breakeven; full-year loss $19-21M.

## SEC filing metadata
- accession: 0001193125-25-269494
- form_type: 8-K
- ticker: NRDY
- cik: 0001819404
- company_name: Nerdy Inc.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819404/000119312525269494/0001193125-25-269494-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819404/000119312525269494/d915805d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-269494
- JSON: https://secwatch.observer/filing/0001193125-25-269494.json
- Plain text: https://secwatch.observer/filing/0001193125-25-269494.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.