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Nerdy (NRDY) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · Nerdy (NRDY) Q2 2026 earnings results →
Q2 2026 Revenue down 4% year over year to $43.2M · 16¢ of every $1 of revenue lost · operating margin -15.0%
Nerdy made $43.2M in Q2 2026 (-4% Y/Y). Operating margin -15.0%, net loss $6.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $43.2M in Q2 2026, down 4% year over year and down 11% from the previous quarter.
Gross margin was 64.7%, up 3.2 points from Q2 2025. Operating costs exceeded revenue by $6.5M, an operating margin of -15.0%. Operating expenses fell 14% while revenue fell 4%. The quarter ended with a net loss of $6.9M, wider than the previous quarter's $6.1M loss. Minority interests bore $2.2M of it: to shareholders the quarter was a loss of $4.7M.
Operating cash flow was −$4.7M. Non-cash charges added back $275K of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items used $2.0M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$6.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $43.2M | -4% | -15.0% | −$6.9M | −$4.7M |
| Q1 2026 | 10-Q | May 7, 2026 | $48.7M | +2% | -11.9% | −$6.1M | −$1.8M |
| Q4 2025 | 10-K | Feb 26, 2026 | $49.1M | +2% | -28.3% | −$14.0M | −$2.9M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $37.0M | -1% | -51.5% | −$18.8M | −$2.4M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $45.3M | -11% | -27.1% | −$12.0M | −$7.0M |
| Q1 2025 | 10-Q | May 8, 2025 | $47.6M | -11% | -34.8% | −$16.2M | −$6.4M |
| Q4 2024 | 10-K | Feb 27, 2025 | $48.0M | -13% | -34.0% | −$15.8M | −$11.3M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Nerdy
Unless otherwise stated or the context otherwise indicates, all references in this Form 10-K to “Nerdy,” “the Company,” “us,” “our,” or “we” mean Nerdy Inc. and its consolidated subsidiaries. We operate a next-generation live tutoring and intervention platform that leverages the power of human expertise with advanced artificial intelligence (“AI”) to personalize learning, accelerate student achievement, and empower educators. Our mission is to transform the way people learn through technology. Our purpose-built proprietary platform leverages technology, including AI, to connect students, users, parents, guardians, and purchasers (“Learner(s)”) of all ages to tutors, instructors, subject matter experts, educators, and other professionals (“Expert(s)”), delivering superior value on both sides of the network.
In its own words, from its 10-K, filed Feb 26, 2026.
Nerdy against its Services-Educational Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +3%. Operating margin: -15.0% against the peers' median 12.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NRDY Nerdy | Q2 2026 | $43.2M | -4% | -15.0% |
| GHC Graham Holdings | Q3 2026 | $1.3B | +4% | 6.4% |
| BSAA Best SPAC I Acquisition | Q1 2026 | $1.2B | — | 0.0% |
| LRN Stride | Q1 FY27 | $639M | +3% | 13.2% |
| CVSA Covista | Q1 FY27 | $512M | +11% | 19.2% |
| LAUR Laureate Education | Q3 2026 | $485M | +21% | 24.6% |
| STRA Strategic Education | Q3 2026 | $325M | +2% | -26.9% |
| LOPE Grand Canyon Education | Q3 2026 | $267M | +2% | 19.3% |
| PXED Phoenix Education Partners | Q4 FY26 | $261M | +1% | 12.0% |
Source: Nerdy 10-Q on SEC EDGAR · CIK 1819404 · Services-Educational Services
More on NRDY
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results