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Nerdy Inc. reports developments around its live online learning platform, which connects learners with expert instructors through technology and artificial intelligence. The company operates its flagship Varsity Tutors business and offers Learning Memberships, one-on-one instruction, small group tutoring, large-format classes and adaptive assessments for consumers, schools and other institutions.
Recurring news items cover quarterly results, revenue trends, adjusted profitability measures, liquidity and capital resources, product work on its Live+AI platform, management presentations and leadership changes. Company updates also describe how Nerdy applies AI to personalize learning and support tutors across its consumer and institutional channels.
GoFundMe has appointed Greg Mrva as the new Chief Financial Officer, bringing over 25 years of experience in finance and strategy from leading technology firms. Mrva previously led a successful business combination with Nerdy Inc. (NYSE: NRDY) and has held roles at StubHub, Morgan Stanley, and Yahoo!. His expertise is expected to enhance GoFundMe's scaling efforts and market expansion. The company recently completed the acquisition of Classy, solidifying its position in the philanthropic market worth nearly $500 billion.
Nerdy Inc. (NYSE: NRDY) has been awarded the title of Best Student Personalization Solution by the EdTech Breakthrough Awards for its product, Varsity Tutors for Schools. This award recognizes the platform's capability to provide personalized learning solutions amid educational challenges like learning gaps and staffing issues. Varsity Tutors for Schools offers customizable support for students at various educational levels and aims to enhance the learning experience through data-driven insights and individualized approaches. The award program received over 2,250 nominations globally.
Nerdy Inc. (NYSE: NRDY) has partnered with the Smithsonian Institution to offer a free online class titled "Live from the Smithsonian: Living in the World of Dinosaurs" on May 24 at 7 PM ET. This event will provide global learners access to Smithsonian content through a live session led by Matthew Carrano, Curator of Dinosauria. The class will explore dinosaur origins and evolution, featuring interactive challenges. This collaboration aims to attract a broad audience, enhancing Nerdy's educational offerings through its StarCourse series.
Nerdy Inc. (NYSE: NRDY) reported record financial results for Q1 2022, achieving $48.5 million in bookings and $46.9 million in revenue, representing increases of 30% and 36% year-over-year, respectively. The growth was bolstered by strong direct-to-consumer offerings and the expansion of Varsity Tutors for Schools, which generated over $4.6 million in revenue from 61 new contracts. Additionally, gross profit rose 40% to $32.8 million. The company remains debt-free, with a cash balance of $141.7 million, focusing on profitability initiatives for 2023.
Nerdy Inc. (NYSE: NRDY) will release its Q1 financial results for the period ended March 31, 2022, after U.S. market close on May 16, 2022. Following this, management will conduct a conference call at 5:00 p.m. ET to discuss the financial and operational outcomes. Interested parties can join via a toll-free number or through a live webcast on the company’s investor relations website. Nerdy is dedicated to revolutionizing learning through technology, connecting learners with experts in over 3,000 subjects.
TMA Systems has appointed Mike Hill as Vice President of Engineering to enhance its engineering team. Hill brings over 20 years of enterprise software experience, previously serving as Senior Director of Engineering at Varsity Tutors, a Nerdy company (NYSE: NRDY). His role will involve leading the product roadmap and accelerating new feature development to meet the growing demand for Computerized Maintenance Management Systems (CMMS) and Enterprise Asset Management Solutions (EAMS).
TMA Systems has appointed Todd Miltenberger as Vice President of Finance & Corporate Development. With over 12 years of financial expertise, he previously played a pivotal role in executing the IPO of Nerdy, Inc. (NYSE: NRDY). Miltenberger’s appointment follows a significant investment from Silversmith Capital Partners in September 2021, signaling TMA's aim for accelerated growth and potential acquisitions. CEO Mark Simner highlighted Miltenberger's experience in building high-performing finance teams as crucial for TMA's expansion strategy.
Nerdy Inc. (NYSE: NRDY) announced participation in upcoming investor conferences this March. The JMP Securities Technology Conference is scheduled for March 7, 2022, at 2:00 p.m. PT, with CEO Chuck Cohn and CFO Jason Pello as speakers. Subsequently, the Deutsche Bank 30th Annual Media, Internet, & Telecom Conference will take place on March 14, 2022, at 12:50 p.m. PT. Live webcasts will be available on Nerdy’s investor relations website.
Nerdy focuses on live online learning, connecting learners with experts across over 3,000 subjects.
Nerdy Inc. (NYSE: NRDY) reported record financial results for Q4 and the full year ended December 31, 2021. Bookings reached $159.9 million (+48%) and revenue hit $140.7 million (+35%) year-over-year. Q4 figures also set new highs with bookings of $47.3 million (+53%) and revenue of $42.0 million (+27%). The company experienced a 46% increase in Active Learners and a 73% rise in Online Sessions. For Q1 2022, revenue guidance is projected at $45-$48 million, while full-year expectations stand at $196-$200 million, indicating over 40% growth.
Nerdy Inc. (NYSE: NRDY) will release its fourth quarter and full year financial results for the period ending December 31, 2021, after the U.S. stock market closes on February 28, 2022. A conference call and webcast is scheduled for 5:00 p.m. Eastern Time on the same day to discuss the results. Interested parties can listen in by dialing the provided numbers or via Nerdy's investor relations website. The company's platform connects learners to experts across 3,000+ subjects, emphasizing their mission to enhance online learning through technology.