Nerdy (NRDY) Reports Q3 2026 Revenue Decline Amid Cost Discipline and AI Efficiency
Nerdy (NRDY) reported third-quarter revenue of $33.2 million, a 10% decrease compared to the same period in 2025. Despite the top-line decline, the company showed significant progress in narrowing its net loss to $12.8 million from $18.7 million last year. This improvement was driven by aggressive cost discipline and AI-enabled efficiencies, which helped expand Non-GAAP Adjusted EBITDA margins by over 1,000 basis points. The decline in revenue was attributed to a 34% drop in institutional revenue following the wind-down of its Varsity Tutors for Schools business and delayed product launches that slowed new client acquisition. However, management provided optimistic guidance for Q4, projecting revenue between $37 million and $39 million and expecting to reach adjusted EBITDA breakeven by the end of the year.
Tickers: $NRDY
Topics: AI efficiency Cost reduction EBITDA guidance miss Net loss improvement Revenue decline
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