Why Nerdy Stock Tumbled Today

Core Insights - Nerdy reported a loss per share of $0.09, better than the consensus estimate of a loss of$0.14 per share [2] - Sales reached $48 million, exceeding the company's guidance of$44 million to $47 million and Wall Street's estimate of$45 million [2] - However, sales declined by 13% year-over-year, and gross margin fell to 66.6% from 71.3% in the previous year [3] - The net loss widened to $15.7 million compared to a loss of$9.2 million in the same quarter last year [3] - Active members decreased by about 8%, from 40,700 to 37,500 [4] Future Outlook - For the upcoming quarter, Nerdy expects sales between $45 million to$47 million, indicating a 14% decline from the previous year [5] - Adjusted EBITDA is projected to be a loss of $7 million, a significant drop from a positive EBITDA of$24,000 in the first quarter of 2024 [6]