RestructuringAug 6, 2026, 04:16 PM
Nerdy to Wind Down Varsity Tutors for Schools; Q2 Net Loss $(4.65)M
AI Summary
Nerdy Inc. announced plans to wind down its Varsity Tutors for Schools business line, expecting $2 million to $4 million in exit costs in Q3 2026, and previously abandoned its First Tutors business in Q2 2026. For the second quarter of 2026, the company reported revenue of $43.231 million, a decrease from $45.263 million in the prior year period. Net loss significantly improved to $4.653 million, or $(0.04) per share, compared to a net loss of $7.897 million, or $(0.07) per share, in Q2 2025.
Key Highlights
- Nerdy to wind down Varsity Tutors for Schools, estimating $2M-$4M exit costs.
- Abandoned First Tutors business in Q2 2026 to focus on core operations.
- Q2 2026 Revenue: $43.231M, down from $45.263M in Q2 2025.
- Q2 2026 Net Loss: $(4.653)M, improved from $(7.897)M in Q2 2025.
- Q2 2026 Loss per share: $(0.04), improved from $(0.07) in Q2 2025.
- Active Members: 29.1K as of June 30, 2026, a 5% YoY decrease.
- Average Revenue per Member per Month (ARPM): $366, a 5% YoY increase.
Price Impact
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