Nerdy ( (NRDY) ) has released its Q4 earnings. Here is a breakdown of the information Nerdy presented to its investors.
Nerdy Inc. is a leading platform for live online learning, leveraging technology, including AI, to connect learners with experts across various subjects and formats. The company recently reported its fourth-quarter 2024 financial results, showcasing revenue of $48.0 million and a non-GAAP adjusted EBITDA loss of $5.5 million, both exceeding the high end of their guidance ranges. Despite a 13% year-over-year revenue decline due to lower institutional revenue and consumer business metrics, Nerdy made significant strides in platform unification and AI-powered product launches, setting the stage for future growth. Key financial highlights include a gross margin of 66.6% and a net loss of $15.7 million, with consumer learning memberships contributing 82% of total revenue. Institutional revenue reached $6.8 million, with Varsity Tutors for Schools executing 91 contracts and expanding platform access to 5 million students. Looking ahead, Nerdy anticipates first-quarter 2025 revenue between $45 to $47 million and full-year revenue of $190 to $200 million, with continued focus on AI innovation and growth initiatives.