Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Nerdy Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
90.5
104
141
163
193
190
179
Cost of revenue
30.8
34.8
46.7
49.7
57
61.8
75.2
Gross profit
59.6
69.1
94
113
136
128
104
Selling and marketing
38
43.8
65.4
74.2
68.4
71.6
60.1
General and administrative
42.2
43.2
122
130
126
127
106
Operating income
-20.5
-17.9
-96.5
-90.8
-57.6
-70.1
-61.9
Interest expense
2.1
4.9
3.79
Interest income
0.01
Other non-operating income
0.2
-1.9
-8.57
-0.18
0.02
-0.02
0
Pre-tax income
-22.4
-24.7
-30.6
-63.9
-67.6
-67
-60.8
Income tax
0
0
0.04
0.02
0.11
0.12
0.16
Net income to minority interests
0
0
-3.35
-28.5
-27.5
-24.6
-21
Net income
0
0
-3.78
-35.4
-40.2
-42.6
-39.9
EBITDA
-19.5
-17
-95.6
-89.8
-56.7
-69.2
-61.3
EPS, basic
0.00
0.00
-0.05
-0.41
-0.41
-0.38
-0.33
EPS, diluted
0.00
0.00
-0.05
-0.41
-0.41
-0.38
-0.33
Shares, basic (weighted)
0
0
79.2
85.9
97.2
112
121
Shares, diluted (weighted)
0
0
79.2
85.9
97.2
112
121
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
25
29.3
144
90.7
74.8
52.5
47.9
Receivables
0.48
5.32
11.6
15.4
7.34
5.64
Other current assets
1.82
6.17
5.35
4.82
4.84
4.64
Total current assets
0.03
31.6
155
108
95
64.7
58.2
Property, plant and equipment
10.3
10.7
12.5
16.4
17.1
8.68
Lease right-of-use assets
2.93
3.61
2.5
1.7
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 non-current assets
1.17
0.83
3.24
4.54
2.5
1.7
Total assets
0.03
57.3
177
133
125
92.5
76.2
Accounts payable
4.45
3.59
3.2
3.44
2.56
3.38
Accrued liabilities
0.01
0.53
1.96
2.07
3.4
2.78
3.58
Deferred revenue
17.3
30
25.5
20.5
15.3
14.5
Short-term debt
6.54
0
Total current liabilities
0.01
34.3
41.9
37.3
35.6
28.3
25.6
Long-term debt
41
0
0
19.3
Lease liabilities
1.86
3.35
2.4
2.07
Other non-current liabilities
1.55
39.4
14.3
3.53
3.07
2.28
Total liabilities
0.01
76.9
81.3
51.6
39.1
31.4
47.2
Total debt
47.6
0
0
19.3
Paid-in capital
0.02
6.83
490
522
568
597
617
Retained earnings
-0.01
-412
-440
-475
-515
-558
-598
Other comprehensive income
0.3
0.14
-0.01
0.03
0.02
0.04
Shareholders' equity
0.02
-398
50.7
46.9
52.5
39.5
19
Minority interests
0
45.1
34.1
33.1
21.6
9.92
Total equity
-156
-398
95.8
81.1
85.6
61.1
28.9
Total liabilities and equity
0.03
57.3
177
133
125
92.5
76.2
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-22.4
-24.7
-30.7
-63.9
-67.7
-67.1
-60.9
Depreciation and amortization
1.07
0.92
0.84
1.05
0.9
0.9
0.58
Stock-based compensation
1.75
1.73
54.4
47.2
44.3
41.1
27.8
Deferred income tax
0
0
0
0
0
Change in receivables
-0.24
0.28
-4.85
-6.28
-3.8
8.06
1.7
Change in payables
0.95
2.18
-0.86
-0.39
-0.47
-0.17
0.54
Cash from operations
-16.3
-6.65
-38.9
-48
-7.56
-15.6
-18.8
Capital expenditures
-6.36
-2.87
-5.16
-5.32
-6.89
-6.86
-5.37
Cash from investing
-6.36
-2.87
-5.16
-5.32
-6.89
-6.86
-5.37
Debt repaid
0
0
-50
0
0
Cash from financing
24.4
12.3
159
-1
-1.94
0
19.5
Exchange rate effect
0.03
0.02
0
-0.01
-0.02
-0
-0.06
Net change in cash
1.74
2.79
115
-54.3
-16.4
-22.5
-4.78
Free cash flow
-22.7
-9.53
-44.1
-53.3
-14.4
-22.5
-24.2
Interest paid
1.44
4.15
4.07
0
0
0
0.17
Income taxes paid
0
0
0.04
0.09
0.12
0.15
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $8.67 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
61.0%
Gross profit / revenue.
Operating margin
-25.4%
Operating income / revenue.
EBITDA margin
-25.1%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-25.6%
Pre-tax income / revenue.
Net margin
-17.0%
Net income / revenue.
FCF margin
-9.9%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-6.7%
Cash from operations / revenue.
Return on equity (ROE)
-175.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-46.9%
Net income / average total assets.
Stock-based pay / revenue
12.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
3.2%
Capital expenditures / revenue.
D&A / revenue
0.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-5.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
3.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
11.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-19.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-2.8%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
8.5%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-51.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-26.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-17.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-16.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
5.9%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
8.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
12.1%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.70x
Current assets / current liabilities.
Quick ratio
2.49x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.24x
(Cash + short-term investments) / current liabilities.
Debt / equity
1.13x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
30.3%
Total debt / total assets.
Liabilities / assets
59.8%
Total liabilities / total assets.
Net debt
-$18.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$1.41
Revenue / diluted weighted shares.
FCF per share
-$0.14
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.09
Cash from operations / diluted weighted shares.
Book value per share
$0.14
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
9.33x
Market cap / revenue.
P/B
96.2x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
153x
Market cap / tangible book value, when positive.
EV/Sales
9.22x
Enterprise value / revenue.
FCF yield
-1.1%
Free cash flow / market cap.
Earnings yield
-1.8%
Net income / market cap (the inverse of P/E).
What was Nerdy Inc.'s revenue in fiscal 2025?
Nerdy Inc. reported revenue of $179.0M for fiscal 2025, 5.9% lower than the year before.
Was Nerdy Inc. profitable in fiscal 2025?
No. It reported a net loss of $39.9M.
How much free cash flow did Nerdy Inc. generate in fiscal 2025?
Cash from operations of $18.8M minus capital expenditures of $5.4M left free cash flow of -$24.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.