Nerdy Inc. announced strong fourth quarter 2024 financial results, with revenue of $48.0 million and a non-GAAP adjusted EBITDA loss of $5.5 million, both surpassing the high end of their guidance ranges. The company made significant progress in unifying platforms and enhancing marketplace technology, driven by AI innovation, and ended the year with a strong cash position.
Fourth quarter revenue reached $48.0 million, exceeding the guidance range of $44 to $47 million.
Non-GAAP adjusted EBITDA loss was $5.5 million, better than the guidance of negative $7.0 million to negative $10.0 million.
Consumer Learning Memberships generated $39.2 million in revenue, accounting for 82% of total company revenue, with 37.5K active members.
Institutional revenue was $6.8 million, representing 14% of total revenue, with Varsity Tutors for Schools executing 91 contracts and enabling access for 5.0 million students.
For the first quarter of 2025, Nerdy expects revenue between $45 million and $47 million, and adjusted EBITDA in the range of negative $6 million to negative $8 million. For the full year 2025, revenue is projected to be between $190 million and $200 million, with adjusted EBITDA between negative $8 million and negative $18 million. The company anticipates ending 2025 with $35 million to $40 million in cash and no debt.
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