# NERDY INC. (NRDY) · Edgar & Edgarette company card

> Nerdy (NRDY) saw revenue fall 5.9% in FY2025 to $179 million, operating margin -34.6% against a 7.4% median for educational services, equity 25.0% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1819404 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/NRDY) · [JSON](https://www.pops4.com/boards/company/NRDY.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $179M |
| Revenue growth, 1 year | -5.9% |
| Revenue growth per year | 6.2% |
| Operating margin | -34.6% (prior year -36.9%) |
| Net margin | -34.1% |
| Operating cash flow | −$19M |
| Capital spending | $5M |
| Free cash flow | −$24M |
| Cash | $48M |
| Long-term debt | $19M |
| Total assets | $76M |
| Total equity | $19M |
| Equity ÷ assets | 25.0% |
| Return on equity | -320.6% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -27.82 (distress zone)
- Piotroski F: 2 of 9 (weak)
- Beneish M: -5.48 (below the −1.78 line)
- Health Harbor boat: Old boat · three warning signs · filed restructuring or exit costs in the last 12 months; operating cash flow was negative; operating loss: a margin of -34.6% in FY2025
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $179.0M (FY2025), total debt $19.3M. Experience: revenue down 5.9% on the year, up 6.2% a year over 4 years; operating margin -34.6%, up from -36.9%. Soundness: equity 25.0% of assets, return on equity -320.6%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $144.8M and $207.2M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $132.2M to $227.7M. A statistical range, not company guidance. Against peers (23 filers, $50M+ revenue, services-educational services): operating margin -34.6% against a 7.4% median; growth -5.9% against 8.6%.

Range logged 2026-09-25, receipt ffca98b601d2a39f, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 3.01 Exchange listing notice or transfer: 1, latest 2026-03-06 ([filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000024/0001819404-26-000024-index.htm))
- Item 2.05 Restructuring or exit costs: 1, latest 2026-08-06 ([filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000079/0001819404-26-000079-index.htm))
- Item 5.02 Director or officer change: 5, latest 2026-09-08 ([filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000097/0001819404-26-000097-index.htm))

## Recent filings

- 8-K · filed 2026-09-08 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000097/0001819404-26-000097-index.htm)
- 8-K · filed 2026-09-02 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000094/0001819404-26-000094-index.htm)
- 8-K · filed 2026-08-21 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1819404/000162828026058487/0001628280-26-058487-index.htm)
- 8-K · filed 2026-08-14 · 3.03 Material Modifications to Rights of Security Holders; 5.03 Amendments to Articles or Bylaws; Change in Fiscal Year; 5.07 Submission of Matters to a Vote of Security Holders; 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000085/0001819404-26-000085-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/1819404/000181940426000080/0001819404-26-000080-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1819404/000119312526337961/0001193125-26-337961-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001819404.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1819404

## Cite

POPS4, Edgar & Edgarette: NERDY INC. (NRDY) company card, from the company's own SEC filings, accessed 2026-11-05, https://www.pops4.com/boards/company/NRDY. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.