Nerdy — Q3 2026 Earnings Summary

Nerdy reported third-quarter 2026 revenue of $33.2 million, a 10% decline from the prior year, driven by the wind-down of its Institutional VT4S business and lower consumer active member counts. The company posted a non-GAAP adjusted EBITDA loss of $5.7 million, an improvement of $4.5 million year-over-year, supported by reduced staffing costs and a 60% decrease in annualized AI spending. Although product transformation initiatives, including a new messaging-first student experience and self-service e-commerce, were delayed and limited Q3 acquisition, the company expects fourth-quarter revenue to reach $37 million to $39 million with non-GAAP adjusted EBITDA approaching breakeven.