Nerdy Inc. filed its Form 10-Q with the SEC on November 9, 2026, reporting unaudited financial results for the quarterly period ended September 30, 2026.

Key Highlights

  • Revenue declined: Nerdy reported revenue of $33,189 thousand for the three months ended September 30, 2026, compared with $37,019 thousand in the same period of 2025, according to the filing.
  • Net loss narrowed year over year: Net loss for Q3 2026 was $12,844 thousand, versus $18,756 thousand in Q3 2025, the company disclosed.
  • Loss per share: Basic and diluted loss per share of Class A common stock was $(1.01) for the three months ended September 30, 2026, compared with $(1.51) in the prior-year quarter.
  • Cash position: Cash and cash equivalents stood at $42,535 thousand as of September 30, 2026, down from $47,895 thousand at December 31, 2025.
  • Term loan proceeds: The company received $10,000 thousand in proceeds from a term loan during the nine months ended September 30, 2026, the filing stated.
  • Nine-month operating loss improved: Operating loss for the nine months ended September 30, 2026 was $24,644 thousand, compared with $47,955 thousand for the same period in 2025.

Nerdy Inc. Q3 2026 Financial Results: Revenue, Losses, and Liquidity

According to the filing, Nerdy Inc. (NYSE:NRDY) reported revenue of $33,189 thousand for the three months ended September 30, 2026, a decrease from $37,019 thousand in the same quarter of 2025. Gross profit for the quarter was $19,803 thousand, down from $23,296 thousand in Q3 2025. For the nine-month period ended September 30, 2026, revenue totaled $125,155 thousand versus $129,877 thousand in the comparable prior-year period, while gross profit improved to $80,061 thousand from $78,749 thousand.

The company disclosed that operating loss for Q3 2026 was $12,370 thousand, compared with $19,082 thousand in Q3 2025. Sales and marketing expenses declined to $13,760 thousand from $16,563 thousand, and general and administrative expenses fell to $18,413 thousand from $25,815 thousand in the prior-year quarter. Net loss attributable to Class A common stockholders was $8,593 thousand for the quarter, with basic and diluted loss per share of $(1.01) on weighted-average shares outstanding of 8,521 thousand. The filing also noted a non-cash loss on abandonment of business lines of $3,276 thousand in the nine-month period.

As of September 30, 2026, Nerdy reported total assets of $64,832 thousand and total liabilities of $49,786 thousand, leaving total stockholders' equity of $15,046 thousand. Long-term debt increased to $29,714 thousand from $19,327 thousand at December 31, 2025, reflecting the $10,000 thousand term loan proceeds received during the nine-month period. Net cash used in operating activities for the nine months ended September 30, 2026 was $11,089 thousand, an improvement from $15,913 thousand in the prior-year period. As of October 31, 2026, the company reported 8,598,829 shares of Class A common stock and 4,248,687 shares of Class B common stock outstanding.

What Was Disclosed

Nerdy Inc. filed a quarterly report covering the period ended September 30, 2026, disclosing revenue, operating losses, cash flows, and balance sheet data. The filing also noted a $10,000 thousand term loan and a non-cash loss on abandonment of business lines of $3,276 thousand.