Nerdy Announces Fourth Quarter 2024 Financial Results
Nerdy (NYSE: NRDY) reported Q4 2024 financial results with revenue of $48.0 million, exceeding guidance but showing a 13% year-over-year decline from $55.1 million in 2023. The company posted a non-GAAP adjusted EBITDA loss of $5.5 million, better than expected.
Consumer Learning Memberships generated $39.2 million (82% of total revenue) with 37.5K Active Members. Institutional revenue was $6.8 million (14% of total revenue), with Varsity Tutors for Schools securing 91 contracts worth $4.6 million in bookings.
Gross margin decreased to 66.6% from 71.3% in Q4 2023. The company maintains a strong balance sheet with $52.5 million in cash and no debt. For 2025, Nerdy projects Q1 revenue of $45-47 million and full-year revenue of $190-200 million, with expected adjusted EBITDA losses.
Nerdy (NYSE: NRDY) ha riportato i risultati finanziari del quarto trimestre 2024 con ricavi di 48,0 milioni di dollari, superando le previsioni ma mostrando un calo del 13% rispetto all'anno precedente, quando erano pari a 55,1 milioni di dollari nel 2023. L'azienda ha registrato una perdita di EBITDA rettificato non-GAAP di 5,5 milioni di dollari, migliore del previsto.
Le iscrizioni ai programmi di apprendimento per i consumatori hanno generato 39,2 milioni di dollari (82% del fatturato totale) con 37.500 membri attivi. I ricavi istituzionali sono stati di 6,8 milioni di dollari (14% del fatturato totale), con Varsity Tutors for Schools che ha ottenuto 91 contratti per un valore di 4,6 milioni di dollari in prenotazioni.
Il margine lordo è diminuito al 66,6% rispetto al 71,3% del quarto trimestre 2023. L'azienda mantiene un bilancio solido con 52,5 milioni di dollari in contante e senza debiti. Per il 2025, Nerdy prevede ricavi per il primo trimestre tra 45 e 47 milioni di dollari e ricavi totali per l'intero anno tra 190 e 200 milioni di dollari, con perdite di EBITDA rettificate previste.
Nerdy (NYSE: NRDY) reportó los resultados financieros del cuarto trimestre de 2024 con ingresos de 48,0 millones de dólares, superando las expectativas, pero mostrando una disminución del 13% en comparación con los 55,1 millones de dólares de 2023. La compañía registró una pérdida de EBITDA ajustado no-GAAP de 5,5 millones de dólares, mejor de lo esperado.
Las Membresías de Aprendizaje para Consumidores generaron 39,2 millones de dólares (82% de los ingresos totales) con 37,5K Miembros Activos. Los ingresos institucionales fueron de 6,8 millones de dólares (14% de los ingresos totales), con Varsity Tutors for Schools asegurando 91 contratos por un valor de 4,6 millones de dólares en reservas.
El margen bruto disminuyó al 66,6% desde el 71,3% en el cuarto trimestre de 2023. La empresa mantiene un balance sólido con 52,5 millones de dólares en efectivo y sin deudas. Para 2025, Nerdy proyecta ingresos del primer trimestre de entre 45 y 47 millones de dólares y ingresos anuales totales de entre 190 y 200 millones de dólares, con pérdidas de EBITDA ajustadas esperadas.
Nerdy (NYSE: NRDY)는 2024년 4분기 재무 결과를 보고하며 4800만 달러의 수익을 기록했으며, 이는 예상치를 초과했지만 2023년의 5510만 달러와 비교하여 13% 감소했습니다. 회사는 예상보다 나은 550만 달러의 비GAAP 조정 EBITDA 손실을 기록했습니다.
소비자 학습 멤버십은 3920만 달러 (총 수익의 82%)를 생성했으며, 37.5K명의 활성 멤버가 있습니다. 기관 수익은 680만 달러 (총 수익의 14%)로, Varsity Tutors for Schools는 460만 달러의 예약을 위한 91개의 계약을 확보했습니다.
총 마진은 2023년 4분기의 71.3%에서 66.6%으로 감소했습니다. 회사는 5250만 달러의 현금과 부채가 없는 강력한 대차대조표를 유지하고 있습니다. 2025년을 위해 Nerdy는 1분기 수익을 4500만에서 4700만 달러로, 연간 수익을 1억 9000만에서 2억 달러로 예상하며, 조정 EBITDA 손실이 예상됩니다.
Nerdy (NYSE: NRDY) a annoncé les résultats financiers du quatrième trimestre 2024 avec un chiffre d'affaires de 48,0 millions de dollars, dépassant les prévisions mais montrant une baisse de 13 % par rapport aux 55,1 millions de dollars de 2023. L'entreprise a affiché une perte d'EBITDA ajusté non-GAAP de 5,5 millions de dollars, meilleure que prévu.
Les abonnements à l'apprentissage pour les consommateurs ont généré 39,2 millions de dollars (82 % du chiffre d'affaires total) avec 37,5K membres actifs. Les revenus institutionnels s'élevaient à 6,8 millions de dollars (14 % du chiffre d'affaires total), Varsity Tutors for Schools ayant sécurisé 91 contrats d'une valeur de 4,6 millions de dollars en réservations.
La marge brute a diminué à 66,6% contre 71,3 % au quatrième trimestre 2023. L'entreprise maintient un bilan solide avec 52,5 millions de dollars en liquidités et aucune dette. Pour 2025, Nerdy prévoit un chiffre d'affaires au premier trimestre de 45 à 47 millions de dollars et un chiffre d'affaires annuel total de 190 à 200 millions de dollars, avec des pertes d'EBITDA ajustées attendues.
Nerdy (NYSE: NRDY) hat die finanziellen Ergebnisse für das vierte Quartal 2024 mit einem Umsatz von 48,0 Millionen Dollar veröffentlicht, der die Erwartungen übertroffen hat, aber einen Rückgang von 13% im Vergleich zu 55,1 Millionen Dollar im Jahr 2023 zeigt. Das Unternehmen verzeichnete einen Verlust von 5,5 Millionen Dollar bei bereinigtem EBITDA nach Non-GAAP, besser als erwartet.
Die Mitgliedschaften für Verbraucherlernen generierten 39,2 Millionen Dollar (82% des Gesamtumsatzes) mit 37,5K aktiven Mitgliedern. Die institutionellen Einnahmen betrugen 6,8 Millionen Dollar (14% des Gesamtumsatzes), wobei Varsity Tutors for Schools 91 Verträge im Wert von 4,6 Millionen Dollar in Buchungen sicherte.
Die Bruttomarge sank auf 66,6% von 71,3% im vierten Quartal 2023. Das Unternehmen hat eine starke Bilanz mit 52,5 Millionen Dollar in bar und ohne Schulden. Für 2025 prognostiziert Nerdy einen Umsatz im ersten Quartal von 45 bis 47 Millionen Dollar und einen Gesamtjahresumsatz von 190 bis 200 Millionen Dollar, mit erwarteten bereinigten EBITDA-Verlusten.
- Revenue of $48.0M exceeded guidance range
- Adjusted EBITDA loss better than guidance at -$5.5M
- Strong cash position of $52.5M with no debt
- 91 new institutional contracts worth $4.6M in bookings
- Platform reach expanded to 5.0M students across 1,100+ school districts
- 13% year-over-year revenue decline to $48.0M
- Net loss increased to $15.7M from $9.2M YoY
- Gross margin declined to 66.6% from 71.3% YoY
- Lower Active Members and ARPM in Consumer business
- Projected continued EBITDA losses for 2025
Insights
Nerdy's Q4 results reveal concerning operational trends despite exceeding lowered guidance targets. Revenue of
The company faces fundamental challenges in both business segments. Consumer Learning Memberships, representing
Nerdy's Institutional segment shows promise with 5.0 million students across 1,100 school districts, but at
Management's 2025 guidance projects continued challenges, with Q1 revenue of
While management emphasizes AI initiatives and platform unification as future growth drivers, these investments come amid declining core business metrics. The company's "AI for HI" strategy may provide differentiation in the competitive edtech landscape, but execution will be critical given the financial headwinds and the need to reverse declining user and revenue trends.
Nerdy delivers fourth quarter revenue of
“Throughout 2024, Nerdy made substantial progress against our key objectives, including unifying our platforms and enhancing our marketplace technology, which has set the stage for our next phase of growth. We’ve recently launched several AI-powered products on our platform, and as we move into 2025, we’re excited to accelerate our focus on AI innovation. These advancements are driving us toward our vision of AI for HI®, or Artificial Intelligence for Human Interaction, enabling us to deliver exceptional support to Learners and Experts throughout their learning journey,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy Inc.
Please visit the Nerdy investor relations website https://investors.nerdy.com to view the Nerdy Q4 Shareholder Letter on the Quarterly Results Page.
Fourth Quarter Financial Highlights:
-
Revenue Beats Top End of Guidance Range – In the fourth quarter, Nerdy delivered revenue of
$48.0 million $44 $47 million 13% year-over-year from$55.1 million -
Consumer Learning Memberships – Revenue recognized in the fourth quarter from Learning Memberships was
$39.2 million 82% of total Company revenue. There were 37.5K Active Members as of December 31, 2024. -
Institutional Strategy – In the fourth quarter, Institutional delivered revenue of
$6.8 million 14% of total Company revenue. Varsity Tutors for Schools executed 91 contracts, yielding$4.6 million 43% of paid contracts and36% of total bookings value in the fourth quarter. -
Gross Margin – Gross margin was
66.6% for the three months ended December 31, 2024, compared to a gross margin of71.3% during the comparable period in 2023. The decrease in gross margin was primarily due to lower ARPM coupled with higher utilization of tutoring sessions across Learning Memberships in our Consumer business. We also implemented new Expert incentives during the fourth quarter that we believe will drive further engagement with our platform, and customer retention improvements. -
Adjusted EBITDA Loss Beats Top End of Guidance Range – Net loss was
$15.7 million $9.2 million $7.0 million $2.2 million $5.5 million $7.0 million $10.0 million $3.0 million -
Liquidity and Capital Resources – With no debt and
$52.5 million
First Quarter and Full Year 2025 Outlook: We are providing first quarter and full year revenue and adjusted EBITDA guidance for 2025.
-
Revenue Guidance: For the first quarter of 2025, we expect revenue in a range of
$45 $47 million $190 $200 million -
Non-GAAP Adjusted EBITDA Guidance: For the first quarter of 2025, we expect adjusted EBITDA in a range of negative
$6 million $8 million $8 million $18 million -
Liquidity and Capital Resources: We expect to end the year with no debt and cash in the range of
$35 $40 million
Webcast and Earnings Conference Call
Nerdy’s management will host a conference call to discuss its financial results on Thursday, February 27, 2025 at 5:00 p.m. Eastern Time. Interested parties in the
A live webcast of the call will also be available on Nerdy’s investor relations website at https://investors.nerdy.com. A replay of the webcast will be available on Nerdy’s website for one year following the event and a telephonic replay of the call will be available until March 6, 2025 by dialing 1-866-813-9403 from the
About Nerdy Inc.
Nerdy (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. Nerdy’s comprehensive learning destination provides learning experiences across thousands of subjects and multiple formats—including Learning Memberships, one-on-one instruction, small group tutoring, large format classes, and adaptive assessments. Nerdy’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about Nerdy at https://www.nerdy.com.
Forward-looking Statements
All statements contained herein that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our strategic priorities, including those related to enhancing the Learning Membership experience; continued improvements in sales and marketing leverage; gross margin and operating leverage; the growth of our Institutional business; changes to our marketplace infrastructure systems; simplifying our operations model while growing our business; the sufficiency of our cash to fund future operations; and our anticipated quarterly and full year 2025 outlook; as well as statements that include the words “expect,” “plan,” “believe,” “project,” and “may,” and similar statements of a future or forward-looking nature.
The forward-looking statements made herein relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
There are a significant number of factors that could cause actual results to differ materially from statements made herein or in connection herewith, including but not limited to, our offerings continue to evolve, which makes it difficult to predict our future financial and operating results; our history of net losses and negative operating cash flows, which could require us to need other sources of liquidity; risks associated with our ability to acquire and retain customers, operate, and scale up our Consumer and Institutional businesses; risks associated with our intellectual property, including claims that we infringe on a third-party’s intellectual property rights; risks associated with our classification of some individuals and entities we contract with as independent contractors; risks associated with the liquidity and trading of our securities; risks associated with payments that we may be required to make under the tax receivable agreement; litigation, regulatory and reputational risks arising from the fact that many of our Learners are minors; changes in applicable law or regulation; the possibility of cyber-related incidents and their related impacts on our business and results of operations; risks associated with the development and use of artificial intelligence and related regulatory uncertainty; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; and risks associated with managing our rapid growth.
Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our filings with the SEC, including our Annual Report on Form 10-K filed on February 27, 2025, as well as other filings that we may make from time to time with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250227303890/en/
Investor Relations
investors@nerdy.com
Source: Nerdy Inc.
FAQ
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