Nerdy reports Q4 revenue $55.1M, consensus $54.83M

“In the fourth quarter, we completed the evolution to access-based subscription products in our Consumer and Institutional businesses, while delivering accelerating revenue growth each quarter throughout the year that culminated in 32% year-over-year growth in the fourth quarter, and 19% year-over-year growth for the full year. Our business model changes delivered substantial operating leverage, achieving adjusted EBITDA profitability in the fourth quarter of $3.0 million, and full-year adjusted EBITDA improvements of $33.2 million and approximately 2,100 bps year-over-year,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy Inc. “We’ve made great progress evolving and enhancing our Consumer and Institutional business models and products to position Nerdy for accelerating revenue growth and adjusted EBITDA profitability for the full-year in 2024. We look forward to continuing to push the pace of innovation, including with the introduction of freemium models for both Consumer and Institutional, and continuing to elevate and enhance our ability to meet the needs of Learners in any subject, anywhere, and at any time.”