Nerdy reports Q2 EPS (3c), consensus (1c)

Reports Q2 revenue $48.8M, consensus $45.9M. “Our strong start to the year continued into the second quarter. The business model improvements stemming from our new ‘always on’ offerings, combined with the application of AI, drove revenue and adjusted EBITDA outperformance relative to our guidance.” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy Inc. “We are pleased to report that our Consumer business completed its evolution to Learning Membership subscriptions, that Varsity Tutors for Schools drove more than $10 million in bookings in the quarter, and that we were profitable on an adjusted EBITDA basis, which represents more than a 2,500 bps improvement year-over-year.”