Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-K _________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-39595 _________________________________________ NERDY INC. (Exact na ...

ST. LOUIS--(BUSINESS WIRE)--Nerdy Inc. (NYSE: NRDY), a leading platform for delivering live online learning, today announced that management will participate in a fireside chat at the Citizens JMP Technology Conference on March 5, 2024 at 3:00 p.m. ET / 12:00 p.m. PT. Chuck Cohn, Founder, Chairman, and Chief Executive Officer, and Jason Pello, Chief Financial Officer, will represent Nerdy at the conference. A live webcast of the fireside chat will be available on Nerdy’s investor relations website at https ...

Entering 2024, a shift toward optimism emerges in the market, with eased monetary policies potentially opening doors for penny stocks to rebound. Savvy investors, drawn to overlooked opportunities, may find penny stocks appealing for their explosive long-term gains with even a modest investment. However, this excitement necessitates a cautious approach, underscoring the importance of thorough research.Amid a robust economy, strong corporate earnings and favorable forecasts for falling inflation and interest ...

ST. LOUIS--(BUSINESS WIRE)--Nerdy Inc. (NYSE: NRDY), a leading platform for delivering live online learning, today announced the company will release its fourth quarter and full year financial results for the period ended December 31, 2023 after the U.S. stock market closes on Tuesday, February 27, 2024. Following the release, Nerdy management will host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the company’s financial and operating results. Interested parties in the U.S. may listen ...

ST. LOUIS--(BUSINESS WIRE)--The Michigan Association of Intermediate School Advisors (MAISA) on Friday announced Varsity Tutors for Schools, a Nerdy (NYSE: NRDY) company and the leading platform for high-impact live online tutoring, was selected as a vetted provider for school districts pursuing funding through the 23g MI Kids Back on Track Grant Program. Districts that use state grant funds administered by MAISA to select Varsity Tutors as their vendor will have access to multiple implementation models ...

RgStudio/E+ via Getty Images Nerdy, Inc. (NYSE:NRDY) is a small-cap online tutoring learning platform that has been public since 2021 through an overvalued SPAC deal of $1.7 billion. While the company has been around since 2007, it was really thanks to the COVID-19 pandemic that the business looked into the scalability of its solutions. And if we look at the business' performance and solutions, it's really only in the last year that the company has found a successful way of doing this. Due to strategic ...

Nerdy, Inc. (NYSE:NRDY) Q3 2023 Earnings Conference Call November 7, 2023 5:00 PM ET Company Participants TJ Lynn - Associate General Counsel Chuck Cohn - Founder, Chairman & Chief Executive Officer Jason Pello - Chief Financial Officer Conference Call Participants Matt Shea - Needham Bryan Smilek - JPMorgan Operator Hello, everyone, and welcome to the Nerdy, Inc. Third Quarter 2023 Earnings Call. My name is Felicia, and I will be your operator today. Please note after the presentation part of this call, th ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from _______ to _______ Commission File Number: 1-39595 NERDY INC. (Exact name of registrant as spe ...

Nerdy, Inc. (NYSE:NRDY) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants TJ Lynn - Associate General Counsel Chuck Cohn - Founder, Chairman and Chief Executive Officer Jason Pello - Chief Financial Officer Conference Call Participants Bryan Smilek - JPMorgan Matt Shea - Needham Andrew Boone - JMP Securities Operator Good afternoon. Thank you for attending today's Nerdy, Inc. Second Quarter 2023 Earnings Call. My name is Bethany and I'll be the moderator for today's call. [Oper ...

Membership Growth - Active Members increased to 31,000 as of June 30, 2023, up from 20,200 a year earlier, reflecting strong demand for Learning Memberships[78] - The transition to Learning Memberships is expected to enhance customer retention and lifetime value, positioning the company for future growth[75] - The transition to Learning Memberships is expected to yield sequential year-over-year revenue growth each quarter as the Institutional business continues to scale[92] Financial Performance - Revenue for Q2 2023 was $48,839,000, a 16% increase from $42,186,000 in Q2 2022, driven by the adoption of Learning Memberships[82] - Gross profit for Q2 2023 was $34,099,000, representing a 19% increase compared to $28,755,000 in Q2 2022, with a gross margin of 70%[87] - The company reported a net loss of $(5,550,000) for Q2 2023, compared to a net income of $15,277,000 in Q2 2022, primarily due to changes in revenue recognition[82] Operational Efficiency - Operating loss for Q2 2023 was $(10,473,000), significantly reduced from $(22,007,000) in Q2 2022, indicating improved operational efficiency[82] - Sales and marketing expenses for Q2 2023 were $14,859,000, a decrease of 18% from $18,011,000 in Q2 2022, improving efficiency[90] - Total operating expenses decreased by 12% to $44,572,000 in Q2 2023 from $50,762,000 in Q2 2022, reflecting cost management efforts[89] Expert Engagement - Active Experts decreased by 17% year-over-year to 10,000 in Q2 2023, down from 12,100 in Q2 2022[80] Administrative Expenses - General and administrative expenses for Q2 2023 were $9,440 thousand, a decrease of $2,594 thousand or 11% year-over-year, representing 42% of revenue compared to 54% in Q2 2022, a 1,270 basis point improvement[93] - For the first half of 2023, general and administrative expenses were $19,651 thousand, down $2,199 thousand or 5% year-over-year, at 41% of revenue compared to 47% in the same period of 2022, a 652 basis point improvement[94] Cash Flow and Investments - Cash provided by operating activities for the first half of 2023 was $2,279 thousand, an improvement from cash used of $20,191 thousand in the prior year, attributed to higher revenues and efficiency gains[110] - Cash used in investing activities for the first half of 2023 was $2,049 thousand, primarily for internal use software and IT equipment development, compared to $2,714 thousand in the same period of 2022[111] - As of June 30, 2023, the company had cash and cash equivalents totaling $90,929 thousand, slightly up from $90,715 thousand at the end of 2022[104] Interest Income - Interest income for Q2 2023 was $783 thousand, up from $5 thousand in Q2 2022, and for the first half of 2023, it was $1,616 thousand, up from $12 thousand in the same period of 2022, driven by higher interest on cash balances[102] Non-Cash Adjustments - The company recognized a net gain of $(4,198) thousand for Q2 2023 related to non-cash mark-to-market adjustments on warrants and earnouts[96] - A hypothetical 10% adverse change in the price of public warrants as of June 30, 2023 would have increased the fair value of related liabilities by approximately $1,048 thousand[128] - Additional information regarding warrants and earnout contracts is available in Notes 10 within "Notes to Condensed Consolidated Financial Statements" in Part I, Item 1 of the report[129]