What is Nerdy's operating income?

Nerdy's total operating income in 2025 was -$61.86 million, based on the following breakdown: Total Gross Profit: $103.78 million Total Operating Expenses: $165.64 million

Nerdy (NRDY) Financials

$0.98 +0.02 (+2.14%)

Closing price 03:58 PM Eastern

Extended Trading

$0.97 -0.02 (-1.93%)

As of 04:15 PM Eastern

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Annual Income Statements for Nerdy

This table shows Nerdy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	0.00	0.00	-3.78	-35	-40	-43	-40
Consolidated Net Income / (Loss)	-22	-25	-31	-64	-68	-67	-61
Net Income / (Loss) Continuing Operations	-22	-25	-31	-64	-68	-67	-61
Total Pre-Tax Income	-22	-25	-31	-64	-68	-67	-61
Total Operating Income	-21	-18	-96	-91	-58	-70	-62
Total Gross Profit	60	69	94	113	136	128	104
Total Revenue	90	104	141	163	193	190	179
Operating Revenue	90	104	141	163	193	190	179
Total Cost of Revenue	31	35	47	50	57	62	75
Operating Cost of Revenue	31	35	47	50	57	62	75
Total Operating Expenses	80	87	190	204	194	199	166
Selling, General & Admin Expense	42	43	122	130	126	127	106
Marketing Expense	38	44	65	74	68	72	60
Total Other Income / (Expense), net	-1.90	-6.73	66	27	-9.99	3.08	1.08
Interest & Investment Income	-	-	-	0.48	3.38	3.10	1.07
Other Income / (Expense), net	0.20	-1.90	62	26	-13	-0.02	0.00
Income Tax Expense	0.00	0.00	0.04	0.02	0.11	0.12	0.16
Net Income / (Loss) Attributable to Noncontrolling Interest	-22	-25	-27	-29	-27	-25	-21
Basic Earnings per Share	$0.00	$0.00	($0.05)	($0.41)	($0.41)	($0.38)	($0.33)
Weighted Average Basic Shares Outstanding	0.00	0.00	79.24M	85.87M	97.16M	111.70M	120.83M
Diluted Earnings per Share	$0.00	$0.00	($0.05)	($0.41)	($0.41)	($0.38)	($0.33)
Weighted Average Diluted Shares Outstanding	0.00	0.00	79.24M	85.87M	97.16M	111.70M	120.83M
Weighted Average Basic & Diluted Shares Outstanding	-	10.33M	158.10M	165.12M	173.71M	182.45M	188.60M

This table shows Nerdy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-12	-5.66	-7.45	-9.09	-16	-10	-10	-7.90	-12	-9.24	-4.08
Consolidated Net Income / (Loss)	-21	-9.24	-12	-14	-25	-16	-16	-12	-19	-14	-6.13
Net Income / (Loss) Continuing Operations	-21	-9.24	-12	-14	-25	-16	-16	-12	-19	-14	-6.13
Total Pre-Tax Income	-21	-9.23	-12	-14	-25	-16	-16	-12	-19	-14	-6.11
Total Operating Income	-26	-10	-13	-15	-26	-16	-17	-12	-19	-14	-5.80
Total Gross Profit	29	39	37	33	26	32	28	28	23	25	32
Total Revenue	40	55	54	51	38	48	48	45	37	49	49
Operating Revenue	40	55	54	51	38	48	48	45	37	49	49
Total Cost of Revenue	11	16	17	17	11	16	20	17	14	24	16
Operating Cost of Revenue	11	16	17	17	11	16	20	17	14	24	16
Total Operating Expenses	55	49	49	49	52	48	44	40	42	39	38
Selling, General & Admin Expense	36	31	32	33	32	30	28	27	26	25	24
Marketing Expense	19	19	17	16	20	18	16	14	17	14	14
Total Other Income / (Expense), net	4.95	0.95	0.86	0.87	0.80	0.56	0.46	0.36	0.36	-0.11	-0.31
Interest Expense	-	-	-	-	-	-	0.00	-	-	-	0.66
Interest & Investment Income	0.84	-	0.89	0.88	0.77	-	0.46	0.37	0.36	-0.11	0.37
Other Income / (Expense), net	4.10	0.03	-0.03	-0.01	0.03	-0.02	0.00	-0.00	0.00	0.00	-0.02
Income Tax Expense	0.02	0.01	0.02	0.04	0.03	0.03	0.03	0.07	0.04	0.02	0.02
Net Income / (Loss) Attributable to Noncontrolling Interest	-8.34	-3.59	-4.57	-5.31	-9.06	-5.63	-5.66	-4.10	-6.47	-4.80	-2.05
Basic Earnings per Share	($0.13)	($0.04)	($0.07)	($0.08)	($0.14)	($0.09)	($0.09)	($0.07)	($0.10)	($0.07)	($0.03)
Weighted Average Basic Shares Outstanding	97.08M	97.16M	107.95M	109.92M	113.29M	111.70M	118.46M	120.15M	121.67M	120.83M	124.30M
Diluted Earnings per Share	($0.13)	($0.04)	($0.07)	($0.08)	($0.14)	($0.09)	($0.09)	($0.07)	($0.10)	($0.07)	($0.03)
Weighted Average Diluted Shares Outstanding	97.08M	97.16M	107.95M	109.92M	113.29M	111.70M	118.46M	120.15M	121.67M	120.83M	124.30M
Weighted Average Basic & Diluted Shares Outstanding	171.64M	173.71M	175.70M	178.05M	180.38M	182.45M	184.16M	185.80M	187.33M	188.60M	190.11M

This table details how cash moves in and out of Nerdy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.74	2.79	115	-54	-16	-22	-4.72
Net Cash From Operating Activities	-16	-6.65	-39	-48	-7.56	-16	-19
Net Cash From Continuing Operating Activities	-16	-6.65	-39	-48	-7.56	-16	-19
Net Income / (Loss) Continuing Operations	-22	-25	-31	-64	-68	-67	-61
Consolidated Net Income / (Loss)	-22	-25	-31	-64	-68	-67	-61
Depreciation Expense	3.96	5.00	5.32	5.92	6.17	6.96	7.00
Amortization Expense	1.30	1.70	1.07	0.60	0.61	0.61	0.70
Non-Cash Adjustments To Reconcile Net Income	1.74	2.19	52	47	44	41	36
Changes in Operating Assets and Liabilities, net	-0.87	9.12	-67	-38	9.07	2.88	-1.17
Net Cash From Investing Activities	-6.36	-2.87	-5.16	-5.32	-6.89	-6.86	-5.37
Net Cash From Continuing Investing Activities	-6.36	-2.87	-5.16	-5.32	-6.89	-6.86	-5.37
Purchase of Property, Plant & Equipment	-6.36	-2.87	-5.16	-5.32	-6.89	-6.86	-5.37
Net Cash From Financing Activities	24	12	159	-1.00	-1.94	0.00	19
Net Cash From Continuing Financing Activities	24	12	159	-1.00	-1.94	0.00	19
Repayment of Debt	-11	0.00	-52	-0.23	0.00	0.00	-0.50
Issuance of Debt	35	12	11	-	0.00	0.00	20
Other Financing Activities, net	0.00	0.00	200	-0.77	-1.94	-	0.00
Cash Interest Paid	1.44	4.15	4.07	-	0.00	0.00	0.17
Cash Income Taxes Paid	-	0.00	0.00	0.04	0.09	0.12	0.15

This table details how cash moves in and out of Nerdy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-7.21	-9.39	2.14	-7.12	-5.02	-12	-7.62	-8.20	-4.14	15	-3.20
Net Cash From Operating Activities	-4.79	-5.05	4.35	-5.59	-3.05	-11	-6.44	-7.05	-2.42	-2.93	-1.78
Net Cash From Continuing Operating Activities	-5.36	-4.48	4.35	-5.59	-3.05	-11	-6.44	-7.05	-2.42	-2.93	-1.78
Net Income / (Loss) Continuing Operations	-21	-9.24	-12	-14	-25	-16	-16	-12	-19	-14	-6.13
Consolidated Net Income / (Loss)	-21	-9.24	-12	-14	-25	-16	-16	-12	-19	-14	-6.13
Depreciation Expense	1.52	1.56	1.64	1.72	1.78	1.82	1.83	1.84	1.87	1.46	0.66
Amortization Expense	0.15	0.15	0.15	0.15	0.16	0.15	0.15	0.16	0.16	0.24	0.28
Non-Cash Adjustments To Reconcile Net Income	12	11	11	11	9.81	8.85	7.59	7.54	6.85	14	5.98
Changes in Operating Assets and Liabilities, net	1.97	-8.41	3.47	-4.38	10	-6.37	0.13	-4.58	7.46	-4.18	-2.57
Net Cash From Investing Activities	-1.87	-2.96	-2.22	-1.53	-1.95	-1.16	-1.18	-1.16	-1.72	-1.32	-1.18
Net Cash From Continuing Investing Activities	-1.87	-2.96	-2.22	-1.53	-1.95	-1.16	-1.18	-1.16	-1.72	-1.32	-1.18
Purchase of Property, Plant & Equipment	-1.87	-2.96	-2.22	-1.53	-1.95	-1.16	-1.18	-1.16	-1.72	-1.32	-1.18
Net Cash From Financing Activities	-0.57	-1.37	0.00	-	-	-	0.00	-	-	19	-0.25
Net Cash From Continuing Financing Activities	-	-1.94	0.00	-	-	-	0.00	-	-	19	-0.25
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-	-0.25
Effect of Exchange Rate Changes	0.02	-	0.00	-	-0.02	0.02	0.00	0.00	-0.00	-	0.02
Cash Interest Paid	-	-	-	-	-	-	0.00	-	-	-	0.54

This table presents Nerdy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	0.03	57	177	133	125	93	76
Total Current Assets	0.03	32	155	108	95	65	58
Cash & Equivalents	0.03	29	144	91	75	53	48
Accounts Receivable	-	0.48	5.32	12	15	7.34	5.64
Other Current Assets	-	1.82	6.17	5.35	4.82	4.84	4.64
Plant, Property, & Equipment, net	0.00	10	11	13	16	17	8.68
Total Noncurrent Assets	0.00	15	11	13	13	11	9.31
Goodwill	-	5.72	5.72	5.72	5.72	5.72	5.72
Intangible Assets	-	8.53	4.43	3.57	3.06	2.43	1.89
Other Noncurrent Operating Assets	0.00	1.17	0.83	3.24	4.54	2.50	1.70
Total Liabilities & Shareholders' Equity	0.03	57	177	133	125	93	76
Total Liabilities	0.01	77	81	52	39	31	47
Total Current Liabilities	0.01	34	42	37	36	28	26
Accounts Payable	-	4.45	4.43	3.20	3.44	2.56	3.38
Current Deferred Revenue	-	17	30	26	20	15	14
Other Current Liabilities	0.00	6.09	7.47	8.59	12	11	7.77
Total Noncurrent Liabilities	0.00	43	39	14	3.53	3.07	22
Long-Term Debt	-	41	-	-	-	0.00	19
Other Noncurrent Operating Liabilities	0.00	1.55	39	14	3.53	3.07	2.28
Total Equity & Noncontrolling Interests	0.02	-398	96	81	86	61	29
Total Preferred & Common Equity	0.02	-398	51	47	52	39	19
Total Common Equity	0.02	-405	51	47	52	39	19
Common Stock	0.03	6.92	490	522	568	597	617
Retained Earnings	-0.01	-412	-440	-475	-515	-558	-598
Accumulated Other Comprehensive Income / (Loss)	-	0.30	0.14	-0.01	0.03	0.02	0.04
Noncontrolling Interest	-	0.00	45	34	33	22	9.92

This table presents Nerdy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	124	121	111	107	83	74	70	73
Total Current Assets	98	92	82	78	56	48	44	54
Cash & Equivalents	84	77	70	65	45	37	33	45
Accounts Receivable	8.24	9.63	7.25	7.42	6.35	6.36	6.50	4.75
Other Current Assets	5.86	5.41	5.30	5.65	4.79	4.56	5.28	5.05
Plant, Property, & Equipment, net	14	17	17	17	17	16	16	9.39
Total Noncurrent Assets	12	13	12	11	10	9.74	9.52	9.08
Goodwill	5.72	5.72	5.72	5.72	5.72	5.72	5.72	5.72
Intangible Assets	3.14	2.89	2.75	2.68	2.32	2.23	2.05	1.72
Other Noncurrent Operating Assets	3.03	3.97	3.47	2.79	2.20	1.80	1.75	1.65
Total Liabilities & Shareholders' Equity	124	121	111	107	83	74	70	73
Total Liabilities	41	36	29	39	30	25	33	44
Total Current Liabilities	40	33	26	36	27	22	31	23
Accounts Payable	7.40	4.62	2.68	5.81	4.22	3.84	5.62	4.73
Current Deferred Revenue	19	16	11	16	13	10	16	10
Other Current Liabilities	14	12	12	14	9.80	8.22	9.48	7.77
Total Noncurrent Liabilities	1.14	3.13	3.08	3.11	2.78	2.54	2.34	21
Long-Term Debt	-	-	-	-	-	-	-	19
Other Noncurrent Operating Liabilities	1.14	3.13	3.08	3.11	2.78	2.54	2.34	1.98
Total Equity & Noncontrolling Interests	83	85	83	68	53	49	37	29
Total Preferred & Common Equity	50	53	52	43	34	32	24	19
Total Common Equity	50	53	52	43	34	32	24	19
Common Stock	560	576	584	591	603	608	613	621
Retained Earnings	-510	-523	-532	-548	-568	-576	-589	-602
Accumulated Other Comprehensive Income / (Loss)	0.00	0.03	0.03	0.07	0.04	0.09	0.08	0.04
Noncontrolling Interest	32	32	30	24	19	17	13	9.63

This table displays calculated financial ratios and metrics derived from Nerdy's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	57,937,500.00	157,846,186.00	162,452,638.00	171,643,771.00	-	187,334,048.00
DEI Adjusted Shares Outstanding	0.00	57,937,500.00	157,846,186.00	162,452,638.00	171,643,771.00	-	187,334,048.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-0.02	-0.22	-0.23	-	-0.21
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	14.94%	35.30%	15.64%	18.89%	-1.64%	-5.91%
EBITDA Growth	0.00%	12.93%	-110.07%	-109.64%	-10.91%	2.50%	13.44%
EBIT Growth	0.00%	2.47%	-71.32%	-89.42%	-10.20%	1.14%	11.79%
NOPAT Growth	0.00%	12.67%	-437.80%	5.85%	36.60%	-21.78%	11.76%
Net Income Growth	0.00%	-9.91%	-24.39%	-108.31%	-5.89%	0.78%	9.23%
EPS Growth	0.00%	0.00%	0.00%	-720.00%	0.00%	7.32%	13.16%
Operating Cash Flow Growth	0.00%	59.22%	-484.48%	-23.43%	84.25%	-106.39%	-20.78%
Free Cash Flow Firm Growth	0.00%	0.00%	-84.71%	-392.81%	40.48%	22.85%	25.11%
Invested Capital Growth	0.00%	-15,633.08%	-3,464.69%	79.93%	211.56%	-20.50%	-95.74%
Revenue Q/Q Growth	0.00%	0.00%	-20.18%	-0.13%	7.37%	-3.60%	0.63%
EBITDA Q/Q Growth	0.00%	0.00%	63.57%	-496.83%	7.88%	-10.43%	3.79%
EBIT Q/Q Growth	0.00%	0.00%	58.90%	-311.32%	7.17%	-9.65%	3.75%
NOPAT Q/Q Growth	0.00%	0.00%	-16.64%	6.33%	15.12%	-9.58%	3.72%
Net Income Q/Q Growth	0.00%	0.00%	62.09%	-307.94%	8.02%	-10.78%	2.76%
EPS Q/Q Growth	0.00%	0.00%	81.48%	-272.73%	8.89%	-15.15%	5.71%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-75.32%	8.41%	55.65%	-67.18%	30.78%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	39.63%	11.47%	4.19%	24.56%
Invested Capital Q/Q Growth	0.00%	0.00%	61.06%	56.98%	913.12%	205.71%	-91.60%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	65.92%	66.50%	66.80%	69.43%	70.55%	67.49%	57.98%
EBITDA Margin	-16.68%	-12.63%	-19.62%	-35.56%	-33.18%	-32.89%	-30.26%
Operating Margin	-22.70%	-17.25%	-68.57%	-55.83%	-29.77%	-36.85%	-34.56%
EBIT Margin	-22.48%	-19.08%	-24.16%	-39.57%	-36.68%	-36.87%	-34.56%
Profit (Net Income) Margin	-24.81%	-23.72%	-21.81%	-39.29%	-34.99%	-35.30%	-34.05%
Tax Burden Percent	100.00%	100.00%	100.13%	100.03%	100.16%	100.17%	100.26%
Interest Burden Percent	110.33%	124.33%	90.16%	99.25%	95.24%	95.57%	98.27%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-7,215.70%	-507.14%	-969.11%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-7,182.64%	-478.77%	-925.61%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	7,134.49%	415.61%	833.74%
Return on Equity (ROE)	-135,944.51%	251.04%	-80.59%	-72.27%	-81.21%	-91.52%	-135.37%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-563.41%	-484.30%	-785.45%
Operating Return on Assets (OROA)	-81,050.49%	-69.24%	-28.99%	-41.55%	-55.11%	-64.56%	-73.35%
Return on Assets (ROA)	-89,423.35%	-86.09%	-26.17%	-41.25%	-52.57%	-61.81%	-72.27%
Return on Common Equity (ROCE)	-135,944.51%	5,176.48%	375.20%	-39.88%	-48.44%	-57.36%	-87.93%
Return on Equity Simple (ROE_SIMPLE)	0.00%	6.19%	-60.56%	-136.18%	0.00%	-170.07%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-13	-68	-64	-40	-49	-43
NOPAT Margin	-15.89%	-12.08%	-48.00%	-39.08%	-20.84%	-25.80%	-24.19%
Net Nonoperating Expense Percent (NNEP)	-32,132.87%	132.41%	58.64%	-0.29%	-33.07%	-28.37%	-43.50%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-78.43%	-47.08%	-80.30%	-89.73%
Cost of Revenue to Revenue	34.08%	33.50%	33.20%	30.57%	29.45%	32.51%	42.02%
SG&A Expenses to Revenue	46.65%	41.58%	86.71%	79.65%	64.93%	66.70%	58.95%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	88.62%	83.75%	135.37%	125.25%	100.32%	104.35%	92.54%
Earnings before Interest and Taxes (EBIT)	-20	-20	-34	-64	-71	-70	-62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-15	-13	-28	-58	-64	-63	-54
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	27,262.81	0.00	14.02	7.79	11.22	7.40	10.25
Price to Tangible Book Value (P/TBV)	27,262.81	0.00	17.53	9.71	13.47	9.33	17.09
Price to Revenue (P/Rev)	4.98	6.19	5.05	2.25	3.04	1.54	1.09
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	50.74	30.48	482.69
Enterprise Value to Revenue (EV/Rev)	4.97	10.07	4.35	1.90	2.83	1.37	0.98
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	-2.42	0.00	0.00	0.00	0.00	0.67
Long-Term Debt to Equity	0.00	-2.09	0.00	0.00	0.00	0.00	0.67
Financial Leverage	-1.52	-0.93	-1.65	-1.33	-0.99	-0.87	-0.90
Leverage Ratio	1.52	-2.92	3.08	1.75	1.54	1.48	1.87
Compound Leverage Factor	1.68	-3.63	2.78	1.74	1.47	1.42	1.84
Debt to Total Capital	0.00%	170.45%	0.00%	0.00%	0.00%	0.00%	40.05%
Short-Term Debt to Total Capital	0.00%	23.41%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	147.04%	0.00%	0.00%	0.00%	0.00%	40.05%
Preferred Equity to Total Capital	0.00%	24.03%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1,357.01%	47.12%	42.10%	38.70%	35.40%	20.56%
Common Equity to Total Capital	100.00%	-1,451.49%	52.88%	57.90%	61.30%	64.60%	39.39%
Debt to EBITDA	0.00	-3.62	0.00	0.00	0.00	0.00	-0.36
Net Debt to EBITDA	0.00	-1.39	0.00	0.00	0.00	0.00	0.53
Long-Term Debt to EBITDA	0.00	-3.12	0.00	0.00	0.00	0.00	-0.36
Debt to NOPAT	0.00	-3.79	0.00	0.00	0.00	0.00	-0.45
Net Debt to NOPAT	0.00	-1.46	0.00	0.00	0.00	0.00	0.66
Long-Term Debt to NOPAT	0.00	-3.27	0.00	0.00	0.00	0.00	-0.45
Altman Z-Score	32,373.20	-4.45	2.69	-0.51	3.49	-2.83	-8.33
Noncontrolling Interest Sharing Ratio	0.00%	-1,962.00%	565.60%	44.82%	40.35%	37.33%	35.05%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	2.92	0.92	3.71	2.88	2.67	2.28	2.27
Quick Ratio	2.92	0.87	3.56	2.74	2.53	2.11	2.09
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-11	-21	-102	-61	-47	-35
Operating Cash Flow to CapEx	-256.73%	-231.52%	-753.26%	-902.80%	-109.77%	-227.35%	-350.95%
Free Cash Flow to Firm to Interest Expense	0.00	-2.32	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-7.77	-1.38	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-10.79	-1.97	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	3,604.67	3.63	1.20	1.05	1.50	1.75	2.12
Accounts Receivable Turnover	0.00	0.00	48.54	19.23	14.33	16.74	27.59
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	13.39	14.01	13.39	11.34	13.86
Accounts Payable Turnover	0.00	0.00	10.52	13.04	17.15	20.62	25.36
Days Sales Outstanding (DSO)	0.00	0.00	7.52	18.98	25.47	21.81	13.23
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	34.69	28.00	21.28	17.70	14.39
Cash Conversion Cycle (CCC)	0.00	0.00	-27.17	-9.02	4.19	4.11	-1.16
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	-0.01	-1.35	-48	-9.67	11	8.57	0.37
Invested Capital Turnover	-10,533.60	-152.94	-5.68	-5.63	346.28	19.66	40.06
Increase / (Decrease) in Invested Capital	0.00	-1.34	-47	38	20	-2.21	-8.21
Enterprise Value (EV)	450	1,047	611	309	547	261	176
Market Capitalization	450	643	710	366	589	292	195
Book Value per Share	$0.00	($6.99)	$0.32	$0.29	$0.31	$0.22	$0.10
Tangible Book Value per Share	$0.00	($7.24)	$0.26	$0.23	$0.25	$0.17	$0.06
Total Capital	0.02	28	96	81	86	61	48
Total Debt	0.00	48	0.00	0.00	0.00	0.00	19
Total Long-Term Debt	0.00	41	0.00	0.00	0.00	0.00	19
Net Debt	-0.03	18	-144	-91	-75	-53	-29
Capital Expenditures (CapEx)	6.36	2.87	5.16	5.32	6.89	6.86	5.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.01	-26	-30	-20	-15	-16	-15
Debt-free Net Working Capital (DFNWC)	0.02	3.76	114	70	59	36	33
Net Working Capital (NWC)	0.02	-2.78	114	70	59	36	33
Net Nonoperating Expense (NNE)	8.06	12	-37	0.34	27	18	18
Net Nonoperating Obligations (NNO)	-0.03	18	-144	-91	-75	-53	-29
Total Depreciation and Amortization (D&A)	5.25	6.70	6.39	6.52	6.77	7.57	7.71
Debt-free, Cash-free Net Working Capital to Revenue	-0.01%	-24.54%	-21.63%	-12.54%	-7.96%	-8.49%	-8.57%
Debt-free Net Working Capital to Revenue	0.02%	3.61%	80.72%	43.23%	30.73%	19.13%	18.19%
Net Working Capital to Revenue	0.02%	-2.67%	80.72%	43.23%	30.73%	19.13%	18.19%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.05)	($0.41)	($0.41)	($0.38)	($0.33)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	79.24M	85.87M	97.16M	111.70M	120.83M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.05)	($0.41)	($0.41)	($0.38)	($0.33)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	79.24M	85.87M	97.16M	111.70M	120.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	158.10M	165.12M	173.71M	182.45M	188.60M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-13	-65	-64	-40	-49	-43
Normalized NOPAT Margin	-15.89%	-12.08%	-46.50%	-39.08%	-20.84%	-25.80%	-24.19%
Pre Tax Income Margin	-24.81%	-23.72%	-21.78%	-39.28%	-34.93%	-35.23%	-33.96%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.68	-4.11	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-6.84	-2.60	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-12.71	-4.70	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-9.87	-3.20	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Nerdy's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	169,397,715.00	171,643,771.00	171,643,771.00	175,697,556.00	178,046,305.00	-	182,447,045.00	184,163,686.00	185,798,825.00	187,334,048.00	188,596,785.00
DEI Adjusted Shares Outstanding	169,397,715.00	171,643,771.00	171,643,771.00	175,697,556.00	178,046,305.00	-	182,447,045.00	184,163,686.00	185,798,825.00	187,334,048.00	188,596,785.00
DEI Earnings Per Adjusted Shares Outstanding	-0.07	-0.03	-0.04	-0.05	-0.09	-	-0.06	-0.04	-0.07	-0.05	-0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.91%	31.77%	9.25%	4.39%	-6.86%	-12.88%	-11.41%	-11.22%	-1.36%	2.34%	2.40%
EBITDA Growth	35.43%	39.40%	64.64%	-191.20%	-20.14%	-70.03%	-31.67%	22.97%	28.25%	14.89%	66.60%
EBIT Growth	33.56%	35.05%	61.05%	-142.66%	-19.81%	-60.84%	-28.79%	19.34%	25.76%	14.77%	64.94%
NOPAT Growth	7.71%	50.20%	-13.04%	-45.41%	-0.67%	-60.22%	-29.04%	19.31%	25.82%	14.68%	65.04%
Net Income Growth	36.14%	38.97%	62.75%	-159.42%	-21.00%	-70.68%	-34.42%	16.65%	24.85%	10.98%	62.06%
EPS Growth	38.10%	50.00%	66.67%	-166.67%	-7.69%	-125.00%	-28.57%	12.50%	28.57%	22.22%	66.67%
Operating Cash Flow Growth	63.90%	65.28%	-35.93%	-23.77%	36.32%	-124.28%	-248.04%	-26.07%	20.60%	74.08%	72.38%
Free Cash Flow Firm Growth	67.64%	47.78%	-46.03%	-7,689.72%	43.28%	66.62%	78.74%	83.79%	32.69%	83.38%	101.86%
Invested Capital Growth	94.10%	211.56%	122.76%	150.00%	311.46%	-20.50%	-3.27%	-5.46%	55.03%	-95.74%	-53.70%
Revenue Q/Q Growth	-17.49%	36.70%	-2.46%	-5.11%	-26.39%	27.87%	-0.82%	-4.90%	-18.21%	32.66%	-0.77%
EBITDA Q/Q Growth	-330.92%	57.35%	-31.44%	-20.54%	-77.79%	39.64%	-1.78%	29.48%	-65.61%	28.40%	60.06%
EBIT Q/Q Growth	-241.54%	52.70%	-26.94%	-18.33%	-68.63%	36.50%	-1.64%	25.88%	-55.21%	27.10%	58.19%
NOPAT Q/Q Growth	-143.99%	60.18%	-26.32%	-18.49%	-68.91%	36.63%	-1.74%	25.91%	-55.29%	27.11%	58.31%
Net Income Q/Q Growth	-271.64%	55.20%	-30.03%	-19.83%	-73.34%	36.81%	-2.41%	25.70%	-56.29%	25.14%	56.35%
EPS Q/Q Growth	-333.33%	69.23%	-75.00%	-14.29%	-75.00%	35.71%	0.00%	22.22%	-42.86%	30.00%	57.14%
Operating Cash Flow Q/Q Growth	-6.18%	-5.24%	186.28%	-228.37%	45.37%	-270.62%	43.05%	-9.33%	65.59%	-21.00%	39.31%
Free Cash Flow Firm Q/Q Growth	-6,170.32%	29.36%	-93.45%	8.51%	54.63%	58.43%	-23.25%	30.27%	-88.43%	89.74%	113.76%
Invested Capital Q/Q Growth	94.78%	913.12%	-23.77%	54.67%	-77.94%	205.71%	-7.26%	51.17%	-63.83%	-91.60%	908.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.43%	71.29%	67.96%	65.68%	70.48%	66.55%	58.01%	61.51%	62.93%	50.97%	66.22%
EBITDA Margin	-49.08%	-15.31%	-20.64%	-26.22%	-63.32%	-29.89%	-30.68%	-22.75%	-46.06%	-24.86%	-10.01%
Operating Margin	-63.41%	-18.47%	-23.92%	-29.87%	-68.54%	-33.97%	-34.85%	-27.15%	-51.55%	-28.32%	-11.90%
EBIT Margin	-53.23%	-18.42%	-23.97%	-29.89%	-68.47%	-34.00%	-34.85%	-27.16%	-51.54%	-28.32%	-11.93%
Profit (Net Income) Margin	-51.19%	-16.77%	-22.36%	-28.24%	-66.50%	-32.86%	-33.93%	-26.51%	-50.67%	-28.59%	-12.57%
Tax Burden Percent	100.10%	100.13%	100.19%	100.26%	100.12%	100.16%	100.17%	100.62%	100.19%	100.16%	100.36%
Interest Burden Percent	96.07%	90.96%	93.12%	94.23%	97.01%	96.50%	97.21%	97.03%	98.13%	100.80%	105.02%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-4,477.53%	0.00%	0.00%	-12,811.37%	-467.44%	-555.46%	-274.15%	-1,794.96%	-794.10%	-257.95%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-4,474.97%	0.00%	0.00%	-12,802.04%	-460.60%	-548.00%	-267.77%	-1,783.91%	-783.49%	-252.05%
Return on Net Nonoperating Assets (RNNOA)	0.00%	4,444.97%	0.00%	0.00%	12,676.33%	399.84%	483.82%	217.33%	1,662.26%	705.73%	216.21%
Return on Equity (ROE)	-88.31%	-32.55%	-65.16%	-76.02%	-135.04%	-67.60%	-71.64%	-56.82%	-132.70%	-88.37%	-41.74%
Cash Return on Invested Capital (CROIC)	0.00%	-563.41%	-1,042.38%	-651.36%	-1,744.53%	-484.30%	-636.02%	-395.76%	-1,301.16%	-785.45%	-541.40%
Operating Return on Assets (OROA)	-72.83%	-27.67%	-37.52%	-50.78%	-117.27%	-59.54%	-62.78%	-52.37%	-103.48%	-60.10%	-27.55%
Return on Assets (ROA)	-70.03%	-25.20%	-35.01%	-47.98%	-113.90%	-57.55%	-61.13%	-51.13%	-101.73%	-60.67%	-29.04%
Return on Common Equity (ROCE)	-52.18%	-19.42%	-39.48%	-46.70%	-83.99%	-42.37%	-45.24%	-36.35%	-85.55%	-57.40%	-27.38%
Return on Equity Simple (ROE_SIMPLE)	-146.30%	0.00%	-89.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-18	-7.12	-9.00	-11	-18	-11	-12	-8.60	-13	-9.74	-4.06
NOPAT Margin	-44.39%	-12.93%	-16.75%	-20.91%	-47.98%	-23.78%	-24.39%	-19.00%	-36.08%	-19.83%	-8.33%
Net Nonoperating Expense Percent (NNEP)	-2.88%	-2.56%	-3.48%	-4.65%	-9.33%	-6.85%	-7.45%	-6.38%	-11.05%	-10.61%	-5.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-8.32%	-10.56%	-12.91%	-26.56%	-18.67%	-21.96%	-17.65%	-36.05%	-20.17%	-8.39%
Cost of Revenue to Revenue	27.57%	28.71%	32.04%	34.32%	29.52%	33.45%	41.99%	38.49%	37.07%	49.03%	33.78%
SG&A Expenses to Revenue	88.12%	55.64%	59.52%	65.08%	84.90%	62.23%	59.69%	58.71%	69.73%	50.34%	49.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	135.85%	89.76%	91.89%	95.55%	139.03%	100.52%	92.86%	88.66%	114.48%	79.29%	78.12%
Earnings before Interest and Taxes (EBIT)	-21	-10	-13	-15	-26	-16	-17	-12	-19	-14	-5.81
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-8.44	-11	-13	-24	-14	-15	-10	-17	-12	-4.88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	12.46	11.22	9.46	5.62	4.04	7.40	7.54	9.43	9.65	10.25	7.98
Price to Tangible Book Value (P/TBV)	15.13	13.47	11.30	6.71	5.01	9.33	9.84	12.57	14.18	17.09	12.98
Price to Revenue (P/Rev)	3.48	3.04	2.52	1.47	0.89	1.54	1.41	1.68	1.32	1.09	0.85
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	50.74	55.35	19.98	47.97	30.48	29.27	23.33	49.27	482.69	37.58
Enterprise Value to Revenue (EV/Rev)	3.19	2.83	2.30	1.27	0.68	1.37	1.26	1.57	1.20	0.98	0.77
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.67	0.67
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.67	0.67
Financial Leverage	-1.14	-0.99	-1.19	-1.09	-0.99	-0.87	-0.88	-0.81	-0.93	-0.90	-0.86
Leverage Ratio	1.58	1.54	1.74	1.59	1.53	1.48	1.48	1.41	1.69	1.87	1.91
Compound Leverage Factor	1.52	1.41	1.62	1.50	1.49	1.43	1.44	1.37	1.66	1.89	2.00
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	40.05%	40.20%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	40.05%	40.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	39.20%	38.70%	38.00%	36.80%	36.10%	35.40%	35.00%	34.70%	34.50%	20.56%	19.91%
Common Equity to Total Capital	60.80%	61.30%	62.00%	63.20%	63.90%	64.60%	65.00%	65.30%	65.50%	39.39%	39.89%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.36	-0.44
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.53	0.57
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.36	-0.44
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.45	-0.54
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.66	0.71
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.45	-0.54
Altman Z-Score	4.86	5.10	4.12	1.39	-2.96	-0.91	-2.46	-1.45	-5.63	-6.25	-6.72
Noncontrolling Interest Sharing Ratio	40.91%	40.35%	39.41%	38.57%	37.80%	37.33%	36.85%	36.02%	35.53%	35.05%	34.40%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.46	2.67	2.78	3.21	2.18	2.28	2.05	2.13	1.43	2.27	2.41
Quick Ratio	2.32	2.53	2.62	3.00	2.02	2.11	1.87	1.92	1.26	2.09	2.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-39	-28	-53	-49	-22	-9.20	-11	-7.91	-15	-1.53	0.21
Operating Cash Flow to CapEx	-255.82%	-170.21%	195.99%	-364.28%	-156.97%	-972.91%	-548.43%	-608.38%	-141.09%	-222.37%	-150.59%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.32
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2.70
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-4.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.37	1.50	1.57	1.70	1.71	1.75	1.80	1.93	2.01	2.12	2.31
Accounts Receivable Turnover	30.43	14.33	24.80	32.23	25.20	16.74	23.04	26.23	25.56	27.59	32.46
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	13.75	13.39	13.55	13.57	12.67	11.34	10.99	10.71	10.49	13.86	13.79
Accounts Payable Turnover	8.23	17.15	13.43	21.95	9.33	20.62	14.63	19.82	11.75	25.36	16.04
Days Sales Outstanding (DSO)	11.99	25.47	14.72	11.33	14.48	21.81	15.84	13.92	14.28	13.23	11.24
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	44.38	21.28	27.18	16.63	39.13	17.70	24.96	18.42	31.06	14.39	22.76
Cash Conversion Cycle (CCC)	-32.38	4.19	-12.46	-5.30	-24.65	4.11	-9.11	-4.50	-16.77	-1.16	-11.52
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1.33	11	8.22	13	2.80	8.57	7.95	12	4.35	0.37	3.68
Invested Capital Turnover	-15.14	346.28	-14.19	-31.49	267.02	19.66	22.77	14.43	49.75	40.06	30.97
Increase / (Decrease) in Invested Capital	21	20	44	38	4.13	-2.21	-0.27	-0.69	1.54	-8.21	-4.27
Enterprise Value (EV)	575	547	455	254	135	261	233	280	214	176	138
Market Capitalization	627	589	499	293	175	292	259	300	234	195	154
Book Value per Share	$0.30	$0.31	$0.49	$0.30	$0.24	$0.22	$0.19	$0.17	$0.13	$0.10	$0.10
Tangible Book Value per Share	$0.24	$0.25	$0.41	$0.25	$0.20	$0.17	$0.14	$0.13	$0.09	$0.06	$0.06
Total Capital	83	86	85	83	68	61	53	49	37	48	48
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19	19
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19	19
Net Debt	-84	-75	-77	-70	-65	-53	-45	-37	-33	-29	-25
Capital Expenditures (CapEx)	1.87	2.96	2.22	1.53	1.95	1.16	1.18	1.16	1.72	1.32	1.18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-26	-15	-18	-13	-23	-16	-16	-11	-19	-15	-13
Debt-free Net Working Capital (DFNWC)	58	59	59	57	42	36	29	25	13	33	32
Net Working Capital (NWC)	58	59	59	57	42	36	29	25	13	33	32
Net Nonoperating Expense (NNE)	2.74	2.12	3.02	3.74	6.95	4.36	4.54	3.40	5.40	4.30	2.07
Net Nonoperating Obligations (NNO)	-84	-75	-77	-70	-65	-53	-45	-37	-33	-29	-25
Total Depreciation and Amortization (D&A)	1.67	1.71	1.79	1.87	1.93	1.97	1.99	2.00	2.03	1.70	0.94
Debt-free, Cash-free Net Working Capital to Revenue	-14.28%	-7.96%	-9.09%	-6.57%	-11.54%	-8.49%	-8.82%	-6.44%	-10.81%	-8.57%	-7.11%
Debt-free Net Working Capital to Revenue	32.37%	30.73%	29.79%	28.33%	21.40%	19.13%	15.58%	14.14%	7.58%	18.19%	17.70%
Net Working Capital to Revenue	32.37%	30.73%	29.79%	28.33%	21.40%	19.13%	15.58%	14.14%	7.58%	18.19%	17.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.13)	($0.04)	($0.07)	($0.08)	($0.14)	($0.09)	($0.09)	($0.07)	($0.10)	($0.07)	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	97.08M	97.16M	107.95M	109.92M	113.29M	111.70M	118.46M	120.15M	121.67M	120.83M	124.30M
Adjusted Diluted Earnings per Share	($0.13)	($0.04)	($0.07)	($0.08)	($0.14)	($0.09)	($0.09)	($0.07)	($0.10)	($0.07)	($0.03)
Adjusted Weighted Average Diluted Shares Outstanding	97.08M	97.16M	107.95M	109.92M	113.29M	111.70M	118.46M	120.15M	121.67M	120.83M	124.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	171.64M	173.71M	175.70M	178.05M	180.38M	182.45M	184.16M	185.80M	187.33M	188.60M	190.11M
Normalized Net Operating Profit after Tax (NOPAT)	-18	-7.12	-9.00	-11	-18	-11	-12	-8.60	-13	-9.74	-4.06
Normalized NOPAT Margin	-44.39%	-12.93%	-16.75%	-20.91%	-47.98%	-23.78%	-24.39%	-19.00%	-36.08%	-19.83%	-8.33%
Pre Tax Income Margin	-51.13%	-16.75%	-22.32%	-28.17%	-66.42%	-32.81%	-33.88%	-26.35%	-50.57%	-28.54%	-12.53%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.81
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-6.15
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-10.60
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-7.94
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Nerdy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Nerdy's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Nerdy's net income appears to be on an upward trend, with a most recent value of -$60.95 million in 2025, rising from -$22.44 million in 2019. The previous period was -$67.14 million in 2024. Check out Nerdy's forecast to explore projected trends and price targets.

Nerdy's total operating income in 2025 was -$61.86 million, based on the following breakdown:

Total Gross Profit: $103.78 million
Total Operating Expenses: $165.64 million

Over the last 6 years, Nerdy's total revenue changed from $90.45 million in 2019 to $178.99 million in 2025, a change of 97.9%.

Nerdy's total liabilities were at $47.23 million at the end of 2025, a 50.5% increase from 2024, and a 549,952.4% increase since 2019.

In the past 6 years, Nerdy's cash and equivalents has ranged from $25.09 thousand in 2019 to $143.96 million in 2021, and is currently $47.90 million as of their latest financial filing in 2025.

Over the last 6 years, Nerdy's book value per share changed from 0.00 in 2019 to 0.10 in 2025, a change of 25,275.0%.

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Financial statements for NYSE:NRDY last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Nerdy (NRDY) Financials

Financials Breakdown Chart

Nerdy Financials - Frequently Asked Questions

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Nerdy (NRDY) Financials

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Financials Breakdown Chart

Nerdy Financials - Frequently Asked Questions

When does Nerdy's financial year end?

How has Nerdy's net income changed over the last 6 years?

What is Nerdy's operating income?

How has Nerdy's revenue changed over the last 6 years?

How much debt does Nerdy have?

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How has Nerdy's book value per share changed over the last 6 years?

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