Filing Flows › Nerdy (NRDY) › Q4 2025
Nerdy (NRDY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Nerdy (NRDY) reported revenue of $49.1M for the fourth quarter 2025 (Q4 2025), +2% from a year earlier and +33% from the quarter before. Operating margin was -28.3%, net loss $14.0M (28.6% of revenue).
Nerdy, Q4 2025: revenue $49.1M (+2% year over year), operating margin -28.3%, net loss $14.0M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $49.1M | +33% | +2% |
| Operating profit | −$13.9M | — | — |
| Net earnings | −$14.0M | — | — |
| Operating cash flow | −$2.9M | — | — |
What changed
Revenue was $49.1M in Q4 2025, up 2% year over year and up 33% from the previous quarter.
Gross margin was 51.0%, down 15.6 points from Q4 2024. Operating costs exceeded revenue by $13.9M, an operating margin of -28.3%. Operating expenses fell 19% while revenue rose 2%. The quarter ended with a net loss of $14.0M, narrower than the previous quarter's $18.8M loss. Minority interests bore $4.8M of it: to shareholders the quarter was a loss of $9.2M.
Operating cash flow was −$2.9M. Non-cash charges added back $294K of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items added $5.0M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$4.3M.
Questions
What was Nerdy's revenue in the fourth quarter 2025?
Nerdy (NRDY) reported revenue of $49.1M for the fourth quarter 2025 (Q4 2025), +2% from a year earlier and +33% from the quarter before.
Was Nerdy profitable in the fourth quarter 2025?
Operating loss was $13.9M (-28.3% of revenue) and net loss $14.0M.
Source: Nerdy 10-K on SEC EDGAR.