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Jun 30, 2025
Nerdy Q2 2025 Earnings Report
Estimated Revenue:$46.6M
-9.1% YoY
Estimated EPS:-$0.05
+53.4% YoY
Key Takeaways
Nerdy reported Q2 2025 revenue of $45.3 million, within guidance, despite an 11% year-over-year decrease primarily due to lower Institutional revenue and the non-recurrence of a specific state-funded consumer program. The company saw a return to growth in Consumer Learning Membership revenue and beat its Non-GAAP Adjusted EBITDA Loss guidance, reinforcing its path to profitability by Q4 2025.
Revenue for Q2 2025 was $45.3 million, aligning with guidance but down 11% year-over-year.
Consumer Learning Membership revenue increased 4% year-over-year, reaching $37.8 million and representing 84% of total revenue.
Non-GAAP Adjusted EBITDA Loss was $2.7 million, outperforming guidance of negative $3.0 million to negative $6.0 million.
The company maintains a strong liquidity position with $36.7 million in cash and no debt.
Revenue by Segment
Forward Guidance
Nerdy is introducing third quarter guidance and updating full year guidance for 2025, expecting continued sequential revenue growth and progress towards non-GAAP adjusted EBITDA profitability by Q4.
Positive Outlook
- Expected sequential acceleration in consolidated revenue growth each quarter throughout 2025.
- Anticipated sequential quarterly gross margin improvements throughout 2025.
- Firmly on track for profitability on a non-GAAP adjusted EBITDA basis in the fourth quarter of 2025.
- Expected to end the year with no debt and ample liquidity.
- AI-enabled productivity improvements and cost reduction efforts are expected to continue driving operating efficiencies.
Challenges Ahead
- Third quarter 2025 revenue guidance of $37 million to $40 million is lower than Q2 revenue.
- Third quarter 2025 non-GAAP Adjusted EBITDA Loss is expected to be in the range of $11 million to $13 million, a significant increase in loss compared to Q2.
- Full year 2025 non-GAAP Adjusted EBITDA loss is projected to be between $13 million and $17 million.
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