Nerdy Inc (NRDY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NRDY SEC filings page.
Nerdy Inc (NRDY) reported $178.1M in revenue over the twelve months to Jun 30, 2026, down 0.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cost contraction against a shrinking, lower-margin revenue base leaves cash needs unresolved.
SG&A fell in FY2025 while operating loss narrowed to-$61.9M , but operating cash flow worsened to-$18.8M . With capex of$5.4M , free cash flow reached-$24.2M , showing that the income-statement improvement did not carry through to cash conversion.
Assets fell to
Gross margin compressed over the last two years as revenue declined, indicating weaker economics per dollar sold rather than a purely volume-driven slowdown. The liquidity comparison equaled 30.5 months of FY2025 reported annual operating outflow, but coexisted with negative free cash flow and newly reported debt.
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Nerdy Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Nerdy Inc held $47.9M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $18.8M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Nerdy Inc scores 56/100 among other emerging companies.
Not available for Nerdy Inc, and counted as zero in the overall score.
Not available for Nerdy Inc, and counted as zero in the overall score.
Nerdy Inc reported revenue of $179.0M in fiscal year 2025, against $190.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Nerdy Inc scores 38/100 among other emerging companies.
Nerdy Inc's operations used $18.8M of cash in fiscal year 2025, against $15.6M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Nerdy Inc scores 13/100 among other emerging companies.
Nerdy Inc's cash, cash equivalents and investments came to $47.9M at the end of fiscal year 2025, against $47.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Nerdy Inc scores 59/100 among other emerging companies.
Nerdy Inc scores -1.91, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($699.9M) relative to total liabilities ($47.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Nerdy Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Nerdy Inc reported a net loss of $39.9M while operations used $18.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Nerdy Inc generated $43.2M in revenue in Q2 2026. This represents a decrease of 4.5% from the same quarter a year earlier. Against the prior quarter it is down 11.3%.
Nerdy Inc's EBITDA was -$6.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 48.3% from the same quarter a year earlier. Against the prior quarter it is down 12.8%.
Nerdy Inc reported -$4.7M in net income in Q2 2026. This represents an increase of 41.1% from the same quarter a year earlier. Against the prior quarter it is down 14.2%.
Nerdy Inc earned -$0.04 per diluted share (EPS) in Q2 2026. This represents an increase of 42.9% from the same quarter a year earlier. Against the prior quarter it is down 33.3%.
Cash & Balance Sheet
Nerdy Inc recorded an outflow of $6.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 23.5% from the same quarter a year earlier. Against the prior quarter it is down 111.9%.
Nerdy Inc held $38.4M in cash against $19.6M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Nerdy Inc's gross margin was 64.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.5 percentage points.
Nerdy Inc's operating margin was -15.0% in Q2 2026, reflecting core business profitability. This is up 12.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.1 percentage points.
Nerdy Inc's net profit margin was -10.8% in Q2 2026, showing the share of revenue converted to profit. This is up 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.4 percentage points.
Nerdy Inc's ROE was -26.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.8 percentage points.
Capital Allocation
Nerdy Inc invested $1.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 32.3% from the same quarter a year earlier. Against the prior quarter it is up 29.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
NRDY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $43.2M-4.5% | $48.7M+2.4% | $49.1M+2.3% | $37.0M-1.4% | $45.3M-11.2% | $47.6M-11.4% | $48.0M-12.9% | $37.5M-6.9% |
| Cost of Revenue | $15.2M-12.5% | $16.5M-17.6% | $24.1M+50.0% | $13.7M+23.9% | $17.4M-0.4% | $20.0M+16.1% | $16.1M+1.5% | $11.1M-0.3% |
| Gross Profit | $28.0M+0.5% | $32.3M+16.9% | $25.0M-21.6% | $23.3M-11.9% | $27.8M-16.9% | $27.6M-24.4% | $31.9M-18.7% | $26.5M-9.4% |
| SG&A Expenses | $22.9M-13.9% | $23.9M-15.8% | $24.7M-17.2% | $25.8M-19.0% | $26.6M-19.9% | $28.4M-11.1% | $29.9M-2.6% | $31.9M-10.3% |
| Operating Income | -$6.5M+47.3% | -$5.8M+65.0% | -$13.9M+14.7% | -$19.1M+25.8% | -$12.3M+19.3% | -$16.6M-29.0% | -$16.3M-60.2% | -$25.7M-0.7% |
| EBITDA | -$6.2M+48.3% | -$5.5M+66.2% | -$13.6M+14.6% | -$18.8M+25.9% | -$12.0M+19.2% | -$16.3M-30.6% | -$15.9M-62.0% | -$25.4M-0.7% |
| Interest Expense | $672K | $660K | N/A | N/A | $0 | $0-100.0% | N/A | N/A |
| Income Tax | $34K-54.1% | $22K-21.4% | $22K-12.0% | $35K+20.7% | $74K+94.7% | $28K+21.7% | $25K+108.3% | $29K+38.1% |
| Net Income | -$4.7M+41.1% | -$4.1M+61.2% | -$9.2M+8.9% | -$12.3M+22.7% | -$7.9M+13.2% | -$10.5M-41.0% | -$10.1M-79.4% | -$15.9M-29.4% |
| EPS (Basic) | -$0.04+42.9% | -$0.03+66.7% | -$0.07+22.2% | -$0.10+28.6% | -$0.07+12.5% | -$0.09-28.6% | -$0.09-125.0% | -$0.14-7.7% |
| EPS (Diluted) | -$0.04+42.9% | -$0.03+66.7% | -$0.07+22.2% | -$0.10+28.6% | -$0.07+12.5% | -$0.09-28.6% | -$0.09-125.0% | -$0.14-7.7% |
| Diluted Shares (Avg) | 126M+5.2% | 124M+4.9% | N/A | 122M+7.4% | 120M+9.3% | 118M+9.7% | N/A | 113M+16.7% |
Not reported in any period shown, so not listed: R&D Expenses.
NRDY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $64.6M-12.4% | $73.0M-12.1% | $76.2M-17.7% | $70.4M-34.0% | $73.7M-33.8% | $83.0M-31.6% | $92.5M-25.8% | $106.8M-13.7% |
| Current Assets | $46.4M-2.7% | $54.5M-2.8% | $58.2M-10.1% | $44.5M-43.0% | $47.6M-42.2% | $56.1M-39.1% | $64.7M-31.9% | $78.1M-20.4% |
| Cash & Equivalents | $38.4M+4.6% | $44.7M-0.5% | $47.9M-8.8% | $32.7M-49.7% | $36.7M-47.4% | $44.9M-41.6% | $52.5M-29.8% | $65.0M-22.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $4.3M-32.1% | $4.7M-25.3% | $5.6M-23.1% | $6.5M-12.5% | $6.4M-12.2% | $6.4M-34.1% | $7.3M-52.4% | $7.4M-9.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% | $5.7M0.0% |
| Total Liabilities | $38.6M-7.7% | $44.0M-9.5% | $47.2M-10.9% | $33.4M-47.4% | $41.9M-29.2% | $48.7M-29.0% | $53.0M-26.6% | $63.4M-13.6% |
| Current Liabilities | $17.2M-23.4% | $22.6M-17.4% | $25.6M-9.5% | $31.0M-13.5% | $22.4M-12.8% | $27.4M-17.1% | $28.3M-20.4% | $35.8M-10.0% |
| Non-Current Liabilities | $21.5M+10.3% | $21.4M+0.6% | $21.6M-12.5% | $2.3M-91.5% | $19.5M-41.9% | $21.3M-40.0% | $24.7M-32.6% | $27.6M-17.8% |
| Long-Term Debt | $19.6M | $19.4M | $19.3M | N/A | N/A | N/A | $0 | N/A |
| Total Equity | $17.3M-45.7% | $19.3M-43.9% | $19.0M-51.9% | $24.3M-44.0% | $31.8M-39.0% | $34.4M-34.9% | $39.5M-24.8% | $43.3M-13.8% |
| Retained Earnings | -$606.5M-5.3% | -$601.9M-5.9% | -$597.8M-7.2% | -$588.5M-7.5% | -$576.3M-8.4% | -$568.4M-8.7% | -$557.9M-8.3% | -$547.7M-7.5% |
Not reported in any period shown, so not listed: Inventory.
NRDY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.7M+32.6% | -$1.8M+72.4% | -$2.9M+74.1% | -$2.4M+20.6% | -$7.0M-26.1% | -$6.4M-248.0% | -$11.3M-124.3% | -$3.1M+36.3% |
| Depreciation & Amortization | $275K-5.2% | $301K-7.1% | $294K-18.1% | $292K-21.5% | $290K-24.3% | $324K-18.6% | $359K+8.1% | $372K+0.3% |
| Stock-Based Compensation | N/A | $6.0M-21.2% | N/A | N/A | N/A | $7.6M-31.7% | N/A | N/A |
| Capital Expenditures | $1.5M+32.3% | $1.2M+0.6% | $1.3M+13.4% | $1.7M-11.7% | $1.2M-24.5% | $1.2M-47.1% | $1.2M-60.8% | $1.9M+3.8% |
| Free Cash Flow | -$6.3M+23.5% | -$3.0M+61.1% | -$4.3M+65.9% | -$4.1M+17.1% | -$8.2M-15.2% | -$7.6M-457.4% | -$12.5M-55.8% | -$5.0M+25.0% |
| Investing Cash Flow | -$1.5M-32.3% | -$1.2M-0.6% | -$1.3M-13.4% | -$1.7M+11.7% | -$1.2M+24.5% | -$1.2M+47.1% | -$1.2M+60.8% | -$1.9M-3.8% |
| Financing Cash Flow | $0 | -$250K | $19.5M | $0 | $0 | $0 | $0+100.0% | $0+100.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
NRDY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.7%+3.2pp | 66.2%+8.2pp | 51.0%-15.6pp | 62.9%-7.6pp | 61.5%-4.2pp | 58.0%-10.0pp | 66.5%-4.7pp | 70.5%-2.0pp |
| Operating Margin | -15.0%+12.2pp | -11.9%+22.9pp | -28.3%+5.6pp | -51.5%+17.0pp | -27.2%+2.7pp | -34.8%-10.9pp | -34.0%-15.5pp | -68.5%-5.1pp |
| Net Margin | -10.8%+6.7pp | -8.4%+13.7pp | -18.8%+2.3pp | -33.2%+9.2pp | -17.4%+0.4pp | -22.1%-8.2pp | -21.1%-10.9pp | -42.4%-11.9pp |
| Return on Equity | -26.9%-2.1pp | -21.1%+9.4pp | -48.6%-22.9pp | -50.6%-13.9pp | -24.8%-7.4pp | -30.5%-16.4pp | -25.7%-14.9pp | -36.7%-12.3pp |
| Return on Assets | -7.2%+3.5pp | -5.6%+7.1pp | -12.1%-1.2pp | -17.4%-2.6pp | -10.7%-2.6pp | -12.6%-6.5pp | -11.0%-6.4pp | -14.9%-5.0pp |
| Current Ratio | 2.70+0.6x | 2.41+0.4x | 2.270.0x | 1.43-0.7x | 2.13-1.1x | 2.05-0.7x | 2.28-0.4x | 2.18-0.3x |
| Debt-to-Equity | 1.13-0.2x | 1.01-0.4x | 1.02+1.0x | 1.37-0.1x | 1.32+0.2x | 1.42+0.1x | 0.00-1.4x | 1.460.0x |
| Asset Turnover | 0.67+0.1x | 0.67+0.1x | 0.64+0.1x | 0.53+0.2x | 0.61+0.2x | 0.57+0.1x | 0.52+0.1x | 0.350.0x |
| FCF Margin | -14.5%+3.6pp | -6.1%+9.9pp | -8.7%+17.3pp | -11.2%+2.1pp | -18.1%-4.2pp | -16.0%-20.0pp | -26.0%-11.5pp | -13.3%+3.2pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Nerdy Inc NRDY | FY2025 | $179.0M | -$39.9M | -22.3% | $699.9M | 28/100 |
| KALTURA INC KLTR | FY2025 | $180.9M | -$12.1M | -6.7% | $234.9M | 66/100 |
| Smartrent Inc SMRT | FY2025 | $152.3M | -$60.6M | -39.8% | $252.9M | 45/100 |
| ON24 INC ONTF | FY2025 | $139.3M | -$28.9M | -20.7% | $348.2M | 67/100 |
| Wm Technology Inc MAPS | FY2025 | $174.7M | $2.0M | 1.1% | $45.4M | — |
| Xperi XPER | FY2025 | $448.1M | -$56.3M | -12.6% | $282.9M | 34/100 |
Where Nerdy Inc Ranks
Frequently Asked Questions
What is Nerdy Inc's annual revenue?
Nerdy Inc (NRDY) reported $179.0M in total revenue for fiscal year 2025. This represents a -5.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nerdy Inc's revenue growing?
Nerdy Inc (NRDY) revenue declined by 5.9% year-over-year, from $190.2M to $179.0M in fiscal year 2025.
Is Nerdy Inc profitable?
No, Nerdy Inc (NRDY) reported a net income of -$39.9M in fiscal year 2025, with a net profit margin of -22.3%.
What is Nerdy Inc's EBITDA?
Nerdy Inc (NRDY) had EBITDA of -$60.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nerdy Inc have?
As of fiscal year 2025, Nerdy Inc (NRDY) had $47.9M in cash and equivalents against $19.3M in long-term debt.
What is Nerdy Inc's gross margin?
Nerdy Inc (NRDY) had a gross margin of 58.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nerdy Inc's operating margin?
Nerdy Inc (NRDY) had an operating margin of -34.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Nerdy Inc's net profit margin?
Nerdy Inc (NRDY) had a net profit margin of -22.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Nerdy Inc's return on equity (ROE)?
Nerdy Inc (NRDY) has a return on equity of -210.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Nerdy Inc's free cash flow?
Nerdy Inc (NRDY) recorded an outflow of $24.2M in free cash flow during fiscal year 2025. This represents a -7.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nerdy Inc's operating cash flow?
Nerdy Inc (NRDY) recorded an outflow of $18.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Nerdy Inc's total assets?
Nerdy Inc (NRDY) had $76.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Nerdy Inc's capital expenditures?
Nerdy Inc (NRDY) invested $5.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Nerdy Inc's current ratio?
Nerdy Inc (NRDY) had a current ratio of 2.27 as of fiscal year 2025, which is generally considered healthy.
What is Nerdy Inc's debt-to-equity ratio?
Nerdy Inc (NRDY) had a debt-to-equity ratio of 1.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nerdy Inc's return on assets (ROA)?
Nerdy Inc (NRDY) had a return on assets of -52.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Nerdy Inc's P/E ratio?
Nerdy Inc (NRDY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $699.9M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Nerdy Inc's price-to-sales ratio?
Nerdy Inc (NRDY) trades at 3.9x sales, its market capitalization divided by revenue of $178.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $699.9M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Nerdy Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Nerdy Inc (NRDY) held $47.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $18.8M over that year. Dividing the one by the other, the reported balance equals about 30 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Nerdy Inc's Altman Z-Score?
Nerdy Inc (NRDY) has an Altman Z-Score of -1.91, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Nerdy Inc's Piotroski F-Score?
Nerdy Inc (NRDY) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nerdy Inc's earnings high quality?
Nerdy Inc (NRDY) reported a net loss of $39.9M while operations used $18.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Nerdy Inc?
Nerdy Inc (NRDY) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.