NRDY NYSE Services-Educational Services Financials FY2019βFY2025
Nerdy Inc. had $179M of revenue in fiscal 2025, down 5.9% on the year before. Over five years, revenue changed +11.5% a year on average.
Last close Β· Oct 23, 2026
$6.14
5.7%Hi! I read Nerdy Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β5.9%
No. Sales fell 5.9% last year.
Does it make a profit?
β22.3%
No. It lost money last year.
Does profit turn into cash?
β13.5%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 9
Weak. It passes 2 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Nerdy Inc. had $179M of revenue in fiscal 2025, down 5.9% on the year before. Over five years, revenue changed +11.5% a year on average. Its operating margin was β34.6%, up 2.3Β pts: of every 100 in sales, about β35 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Nerdy Inc. lost $39.9M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$24.2M in fiscal 2025, β13.5% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $5.3M and sold $0.8M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$5.3M
1 insider
Sold, 12 months
$0.8M
6 insiders
Of sales under plans
28%
$0.2M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 16, 2026 | Atul Madan Mohan BaggaChief Financial Officer | Sold | 2,355 | $5.98 | $0.0M | Form 4 |
| Oct 16, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 3,330 | $5.98 | $0.0M | Form 4 |
| Sep 11, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 1,741 | $9.05 | $0.0M | Form 4 |
| Jul 16, 2026 | Kyle CallawayChief Accounting Officer | Sold | 13,377 | $0.83 | $0.0M | Form 4 |
| Jul 16, 2026 | Atul Madan Mohan BaggaChief Financial Officer | Sold | 36,426 | $0.83 | $0.0M | Form 4 |
| Jul 16, 2026 | John Andrew PaszterkoChief Operating Officer | Sold | 31,034 | $0.83 | $0.0M | Form 4 |
| Jul 16, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 22,707 | $0.83 | $0.0M | Form 4 |
| Jun 16, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 20,153 | $0.88 | $0.0M | Form 4 |
| Jun 15, 2026 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 250,007 | $1.00 | $0.3M | Form 4 |
| Jun 12, 2026 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 251,081 | $1.00 | $0.3M | Form 4 |
| Jun 11, 2026 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 258,204 | $0.97 | $0.3M | Form 4 |
| Jun 10, 2026 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 219,019 | $0.91 | $0.2M | Form 4 |
| May 18, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 22,796 | $0.80 | $0.0M | Form 4 |
| Apr 16, 2026 | John Andrew PaszterkoChief Operating Officer | Sold | 31,788 | $0.93 | $0.0M | Form 4 |
| Apr 16, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 69,796 | $0.93 | $0.1M | Form 4 |
| Mar 16, 2026 | Jason H. PelloChief Financial Officer | Sold | 30,609 | $0.90 | $0.0M | Form 4 |
| Mar 16, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 18,366 | $0.90 | $0.0M | Form 4 |
| Mar 10, 2026 | Jason H. PelloChief Financial Officer | Sold plan | 75,000 | $0.92 | $0.1M | Form 4 |
| Feb 17, 2026 | Jason H. PelloChief Financial Officer | Sold | 49,814 | $0.97 | $0.0M | Form 4 |
| Feb 17, 2026 | Christopher C. SwensonChief Legal Officer | Sold | 32,641 | $0.97 | $0.0M | Form 4 |
| Jan 16, 2026 | John Andrew PaszterkoChief Operating Officer | Sold | 18,457 | $1.01 | $0.0M | Form 4 |
| Dec 22, 2025 | Christopher C. SwensonChief Legal Officer | Sold plan | 35,000 | $1.33 | $0.0M | Form 4 |
| Dec 16, 2025 | Jason H. PelloChief Financial Officer | Sold | 32,006 | $1.20 | $0.0M | Form 4 |
| Dec 16, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 197,242 | $1.22 | $0.2M | Form 4 |
| Dec 16, 2025 | Christopher C. SwensonChief Legal Officer | Sold | 19,204 | $1.20 | $0.0M | Form 4 |
| Dec 15, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 174,076 | $1.36 | $0.2M | Form 4 |
| Dec 12, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 180,353 | $1.38 | $0.2M | Form 4 |
| Dec 11, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 180,000 | $1.38 | $0.2M | Form 4 |
| Dec 10, 2025 | Jason H. PelloChief Financial Officer | Sold plan | 75,000 | $1.39 | $0.1M | Form 4 |
| Dec 10, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 174,947 | $1.40 | $0.2M | Form 4 |
| Dec 9, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 176,215 | $1.44 | $0.3M | Form 4 |
| Dec 8, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 184,491 | $1.33 | $0.2M | Form 4 |
| Dec 5, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 177,969 | $1.40 | $0.2M | Form 4 |
| Dec 4, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 186,930 | $1.37 | $0.3M | Form 4 |
| Dec 3, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 181,672 | $1.31 | $0.2M | Form 4 |
| Dec 2, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 198,100 | $1.26 | $0.2M | Form 4 |
| Dec 1, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 189,000 | $1.32 | $0.2M | Form 4 |
| Nov 28, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 80,708 | $1.32 | $0.1M | Form 4 |
| Nov 26, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 144,783 | $1.25 | $0.2M | Form 4 |
| Nov 25, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 119,242 | $1.16 | $0.1M | Form 4 |
| Nov 24, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 238,749 | $1.05 | $0.3M | Form 4 |
| Nov 21, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 257,210 | $1.06 | $0.3M | Form 4 |
| Nov 20, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 203,500 | $0.98 | $0.2M | Form 4 |
| Nov 19, 2025 | Charles K. CohnChief Executive Officer, Director, 10% owner | Bought | 270,578 | $0.91 | $0.2M | Form 4 |
| Nov 17, 2025 | Jason H. PelloChief Financial Officer | Sold | 43,969 | $0.84 | $0.0M | Form 4 |
| Nov 17, 2025 | Christopher C. SwensonChief Legal Officer | Sold | 28,810 | $0.84 | $0.0M | Form 4 |
| Nov 14, 2025 | Gregory MrvaDirector | Sold | 25,000 | $0.85 | $0.0M | Form 4 |
| Nov 13, 2025 | Gregory MrvaDirector | Sold | 25,000 | $0.89 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Nerdy Inc. has $28.6M more cash than debt.
Cash, debt and the ratios that show how comfortably Nerdy Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $144M | $90.7M | $74.8M | $52.5M | $47.9M |
| Debt incl. finance leases | $0.0M | β | β | $0.0M | $19.3M |
| Debt / equity | 0.0x | β | β | 0.0x | 1.0x |
| Interest coverage | β25.4x | β | β | β | β |
| Current ratio | 3.7x | 2.9x | 2.7x | 2.3x | 2.3x |
| Quick ratio | 3.7x | 2.9x | 2.7x | 2.3x | 2.3x |
| Total assets | $177M | $133M | $125M | $92.5M | $76.2M |
| Total liabilities | $81.3M | $51.6M | $39.1M | $31.4M | $47.2M |
| Shareholders' equity | $50.7M | $46.9M | $52.5M | $39.5M | $19.0M |
| Net debt (β = net cash) | β$144M | β | β | β$52.5M | β$28.6M |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Nerdy Inc. passes 2 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 8 | 3 / 9 | 2 / 8 | 3 / 8 | 2 / 8 | 2 / 9 |
| Accruals ratio | 65,012.0% | 23.2% | 30.0% | 8.1% | β25.3% | β24.8% | β25.0% |
| Altman Z'' | β5,493.13 | β31.33 | β6.89 | β11.84 | β12.03 | β20.85 | β27.82 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $90.5M | $104M | $141M | $163M | $193M | $190M | $179M |
| Net interest income | β | β$4.8M | β$3.8M | $0.5M | $3.4M | β | β |
| Gross profit | $59.6M | $69.1M | $94.0M | $113M | $136M | $128M | $104M |
| Operating income | β$20.5M | β$17.9M | β$96.5M | β$90.8M | β$57.6M | β$70.1M | β$61.9M |
| Interest expense | $2.1M | $4.9M | $3.8M | β | β | β | β |
| Pretax income | β$22.4M | β$24.7M | β$30.6M | β$63.9M | β$67.6M | β$67.0M | β$60.8M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.2M |
| Net income | $0.0M | $0.0M | β$3.8M | β$35.4M | β$40.2M | β$42.6M | β$39.9M |
| Net income to common | β | β$33.3M | β$3.8M | β$35.4M | β$40.2M | β$42.6M | β$39.9M |
| Diluted EPS | $0.00 | $0.00 | β$0.05 | β$0.41 | β$0.41 | β$0.38 | β$0.33 |
| Diluted shares | 0.00B | 0.00B | 0.08B | 0.09B | 0.10B | 0.11B | 0.12B |
| Cash flow | |||||||
| Cash from operations | β$16.3M | β$6.7M | β$38.9M | β$48.0M | β$7.6M | β$15.6M | β$18.8M |
| Capital expenditure | $6.4M | $2.9M | $5.2M | $5.3M | $6.9M | $6.9M | $5.4M |
| Free cash flow | β$22.7M | β$9.5M | β$44.1M | β$53.3M | β$14.4M | β$22.5M | β$24.2M |
| Depreciation and amortization | $1.1M | $0.9M | $0.8M | $1.1M | $0.9M | $0.9M | $0.6M |
| Stock-based compensation | $1.7M | $1.7M | $54.4M | $47.2M | $44.3M | $41.1M | $27.8M |
| Balance sheet | |||||||
| Cash and short-term investments | $25.0M | $29.3M | $144M | $90.7M | $74.8M | $52.5M | $47.9M |
| Total debt | β | $47.6M | $0.0M | β | β | $0.0M | $19.3M |
| Current assets | $0.0M | $31.6M | $155M | $108M | $95.0M | $64.7M | $58.2M |
| Current liabilities | $0.0M | $34.3M | $41.9M | $37.3M | $35.6M | $28.3M | $25.6M |
| Property and equipment, net | β | $10.3M | $10.7M | $12.5M | $16.4M | $17.1M | $8.7M |
| Goodwill | β | $5.7M | $5.7M | $5.7M | $5.7M | $5.7M | $5.7M |
| Intangible assets | β | $8.5M | $4.4M | $3.6M | $3.1M | $2.4M | $1.9M |
| Total assets | $0.0M | $57.3M | $177M | $133M | $125M | $92.5M | $76.2M |
| Total liabilities | $0.0M | $76.9M | $81.3M | $51.6M | $39.1M | $31.4M | $47.2M |
| Shareholders' equity | $0.0M | β$398M | $50.7M | $46.9M | $52.5M | $39.5M | $19.0M |
| Margins | |||||||
| Gross margin | 65.9% | 66.5% | 66.8% | 69.4% | 70.6% | 67.5% | 58.0% |
| Operating margin | β22.7% | β17.3% | β68.6% | β55.8% | β29.8% | β36.9% | β34.6% |
| EBITDA margin | β21.5% | β16.4% | β68.0% | β55.2% | β29.3% | β36.4% | β34.2% |
| Net margin | 0.0% | 0.0% | β2.7% | β21.8% | β20.8% | β22.4% | β22.3% |
| FCF margin | β25.1% | β9.2% | β31.3% | β32.8% | β7.5% | β11.8% | β13.5% |
| Net interest share of revenue | β | β4.6% | β2.7% | 0.3% | 1.7% | β | β |
| Returns | |||||||
| Return on capital employed | β124,466.7% | β78.2% | β71.3% | β95.2% | β64.6% | β109.2% | β122.4% |
| Return on equity | 0.0% | β | β | β72.5% | β80.8% | β92.6% | β136.5% |
| Return on assets | 0.0% | 0.0% | β3.2% | β22.9% | β31.2% | β39.2% | β47.3% |
| Return on tangible equity | 0.0% | β | β9.3% | β94.1% | β91.9% | β135.9% | β350.2% |
| Growth | |||||||
| Revenue growth | β | 14.9% | 35.3% | 15.6% | 18.9% | β1.6% | β5.9% |
| Share count change | β | β | β | 8.4% | 13.1% | 15.0% | 8.2% |
| Financial health | |||||||
| Debt / equity | β | β | 0.0x | β | β | 0.0x | 1.0x |
| Interest coverage | β9.8x | β3.7x | β25.4x | β | β | β | β |
| Current ratio | 2.9x | 0.9x | 3.7x | 2.9x | 2.7x | 2.3x | 2.3x |
| Quick ratio | 2.9x | 0.9x | 3.7x | 2.9x | 2.7x | 2.3x | 2.3x |
| Capital allocation | |||||||
| Capex / revenue | 7.0% | 2.8% | 3.7% | 3.3% | 3.6% | 3.6% | 3.0% |
| Stock comp / revenue | 1.9% | 1.7% | 38.7% | 29.0% | 22.9% | 21.6% | 15.5% |
| Quality scores | |||||||
| Piotroski F-score | β | 2.0 | 3.0 | 2.0 | 3.0 | 2.0 | 2.0 |
| Altman Z'' | β5,493.1 | β31.3 | β6.9 | β11.8 | β12.0 | β20.9 | β27.8 |
| Accruals ratio | 65,012.0% | 23.2% | 30.0% | 8.1% | β25.3% | β24.8% | β25.0% |
Source: SEC EDGAR XBRL filings (CIK 0001819404). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
