Filing Flows › Nerdy (NRDY) › Q3 2025
Nerdy (NRDY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Nerdy (NRDY) reported revenue of $37.0M for the third quarter 2025 (Q3 2025), -1% from a year earlier and -18% from the quarter before. Operating margin was -51.5%, net loss $18.8M (50.7% of revenue).
Nerdy, Q3 2025: revenue $37.0M (-1% year over year), operating margin -51.5%, net loss $18.8M, operating cash flow −$2.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $37.0M | -18% | -1% |
| Operating profit | −$19.1M | — | — |
| Net earnings | −$18.8M | — | — |
| Operating cash flow | −$2.4M | — | — |
What changed
Revenue was $37.0M in Q3 2025, down 1% year over year and down 18% from the previous quarter.
Gross margin was 62.9%, down 7.6 points from a year earlier. Operating costs exceeded revenue by $19.1M, an operating margin of -51.5%. Operating expenses fell 19% while revenue fell 1%. The quarter ended with a net loss of $18.8M, wider than the previous quarter's $12.0M loss. Minority interests bore $6.5M of it: to shareholders the quarter was a loss of $12.3M.
Operating cash flow was −$2.4M. Non-cash charges added back $292K of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items added $9.2M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$4.1M.
Questions
What was Nerdy's revenue in the third quarter 2025?
Nerdy (NRDY) reported revenue of $37.0M for the third quarter 2025 (Q3 2025), -1% from a year earlier and -18% from the quarter before.
Was Nerdy profitable in the third quarter 2025?
Operating loss was $19.1M (-51.5% of revenue) and net loss $18.8M.
Source: Nerdy 10-Q on SEC EDGAR.