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Nerdy cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$6.3M in Q2 2026 · −$17.6M over twelve months

Operating cash flow−$4.7M
Capital spending−$1.5M
Free cash flow−$6.3M
Cash conversion cycle-18 days

Analysis

In Q2 2026, Nerdy generated −$4.7M of operating cash flow and spent $1.5M on capital projects, leaving free cash flow of −$6.3M. That is $1.9M more than in Q2 2025 (−$8.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$11.9M; the largest uses were operating cash flow ($11.9M), capital spending ($5.8M); besides operations, cash came from other financing ($19.2M); the cash balance rose by $1.6M.

Operating cash flow was −$4.7M against net income of −$6.9M. The largest differences: deferred revenue −$3.9M, stock-based pay +$3.9M, prepaid and other assets +$1.4M.

Its cash conversion cycle was -18 days (receivables 10 + inventory 0 − payables 27): suppliers fund its working capital.

Free cash flow

Nerdy: free cash flow by quarterNerdy: free cash flow by quarter−$5.0MQ3 2024−$12.5MQ4 2024−$7.6MQ1 2025−$8.2MQ2 2025−$4.1MQ3 2025−$4.3MQ4 2025−$3.0MQ1 2026−$6.3MQ2 2026
Operating cash flow less capital spending.
Nerdy: operating cash flow against capital spendingNerdy: operating cash flow against capital spendingOperating cash flowCapital spending−$3.1M$1.9MQ3 2024−$11.3M$1.2MQ4 2024−$6.4M$1.2MQ1 2025−$7.0M$1.2MQ2 2025−$2.4M$1.7MQ3 2025−$2.9M$1.3MQ4 2025−$1.8M$1.2MQ1 2026−$4.7M$1.5MQ2 2026
Latest (Q2 2026): Operating cash flow −$4.7M, Capital spending $1.5M.

Capital allocation, year by year

Nerdy: where the cash came from (up) and went (down), by fiscal yearNerdy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingFY2021: Operating cash flow −$38.9MFY2021: Net borrowing −$39.0MFY2021: Capital spending −$5.2MFY2021FY2022: Operating cash flow −$48.0MFY2022: Capital spending −$5.3MFY2022FY2023: Operating cash flow −$7.6MFY2023: Capital spending −$6.9MFY2023FY2024: Operating cash flow −$15.6MFY2024: Capital spending −$6.9MFY2024FY2025: Operating cash flow −$18.8MFY2025: Net borrowing $20.0MFY2025: Capital spending −$5.4M$20.0MFY2025
Over these 5 years operating cash flow totalled −$129M; the largest uses were operating cash flow ($129M) and net borrowing ($39.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$38.4M
Debt$19.6M
Net cash$18.8M
Cash runway2.2 years

Nerdy is burning cash: its operations consume cash, a free cash flow of −$17.6M a year at the current rate against $38.4M of cash and investments: a runway of about 2.2 years before any new financing.

Where the cash came from and went

Nerdy: sources (+) and uses (−) of cash, Q2 2026Nerdy: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$6.3MOperating cash flow−$4.7MCapital spending−$1.5MExchange rates$3K
Nerdy: sources (+) and uses (−) of cash, TTM to Q2 2026Nerdy: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$19.2MOperating cash flow−$11.9MCapital spending−$5.8MCash drawn (+) / kept (−)−$1.6MExchange rates−$46K

From profit to cash

Nerdy: net income to operating cash flow, Q2 2026Nerdy: net income to operating cash flow, Q2 2026Net income−$6.9MDepreciation & amortization$275KStock-based pay$3.9MReceivables$427KPayables−$294KDeferred revenue−$3.9MPrepaid and other assets$1.4MOther liabilities−$1.1MOperating cash flow−$4.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202610—27-18
Q1 202610—22-13
Q4 202511—17-6
Q3 202516—32-16
Q2 202513—21-8
Q1 202513—15-2
Q4 202414—24-10
Q3 202418—35-17

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q2 2026−$4.7M−$1.5M$6.3M−$6.3M
Q1 2026−$1.8M−$1.2M$3.2M−$3.0M
Q4 2025−$2.9M−$1.3M−$15.2M−$4.3M
Q3 2025−$2.4M−$1.7M$4.1M−$4.1M
Q2 2025−$7.0M−$1.2M$8.2M−$8.2M
Q1 2025−$6.4M−$1.2M$7.6M−$7.6M
Q4 2024−$11.3M−$1.2M$12.5M−$12.5M
Q3 2024−$3.1M−$1.9M$5.0M−$5.0M

Nerdy: income statement and cash flow

Nerdy, Q2 2026: revenue $43.2M (-4% year over year), operating margin -15.0%. The chart follows the revenue to costs, profit and cash.

Nerdy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.