Nerdy (NRDY)


Market Price (11/10/2026): $6.39 | Market Cap: $54.3 MilSector: Information Technology | Industry: Application Software

Nerdy (NRDY)


Market Price (11/10/2026): $6.39
Market Cap: $54.3 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41%

Megatrend and thematic drivers
Megatrends include Cloud Computing, E-commerce & Digital Retail, and Social Media & Creator Economy. Themes include Software as a Service (SaaS), Show more.

Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -156%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -45 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -25%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -4.5%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.9%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -56%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.23

Key risks
NRDY key risks include [1] its history of net losses and challenges achieving profitability, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -32%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41%
2 Megatrend and thematic drivers
Megatrends include Cloud Computing, E-commerce & Digital Retail, and Social Media & Creator Economy. Themes include Software as a Service (SaaS), Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -156%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -45 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -25%
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -4.5%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.9%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -56%
9 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.23
10 Key risks
NRDY key risks include [1] its history of net losses and challenges achieving profitability, Show more.

NRDY in ETFs

Weight = NRDY's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/9/2026

Nerdy (NRDY) stock has lost about 45% since 7/31/2026 because of the following key factors:

1. Significant Revenue and Membership Decline: Nerdy reported a 10% year-over-year decline in revenue to $33.2 million in fiscal Q3 2026 (ended September 30, 2026), falling short of analyst consensus estimates. This was coupled with a 7% decrease in active members, totaling 31,800 by the end of the quarter.

2. Delayed Product Launches Impacting Customer Acquisition: The company's customer acquisition efforts were hampered during the crucial back-to-school season in fiscal Q3 2026 due to delays in the launch of self-service and other new products. This operational setback contributed to a smaller recurring revenue base going into fiscal Q4 2026.

Show more
Updated on 11/9/2026

Nerdy (NRDY) stock has lost about 45% since 7/31/2026 because of the following key factors:

1. Significant Revenue and Membership Decline: Nerdy reported a 10% year-over-year decline in revenue to $33.2 million in fiscal Q3 2026 (ended September 30, 2026), falling short of analyst consensus estimates. This was coupled with a 7% decrease in active members, totaling 31,800 by the end of the quarter.

2. Delayed Product Launches Impacting Customer Acquisition: The company's customer acquisition efforts were hampered during the crucial back-to-school season in fiscal Q3 2026 due to delays in the launch of self-service and other new products. This operational setback contributed to a smaller recurring revenue base going into fiscal Q4 2026.

3. Decline in Institutional Revenue from Business Wind-down: Institutional revenue experienced a substantial 34% year-over-year decrease, reaching $2.5 million in fiscal Q3 2026. This decline was primarily a result of the strategic wind-down of the Varsity Tutors for Schools business line.

4. Conservative Fiscal Q4 2026 Outlook: Nerdy provided a cautious financial outlook for fiscal Q4 2026, projecting revenue between $37 million and $39 million. The company noted that its reduced member base is expected to limit growth, and anticipates non-GAAP adjusted EBITDA to be approximately breakeven for the quarter.

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Stock Movement Drivers

Fundamental Drivers

The -44.0% change in NRDY stock from 7/31/2026 to 11/9/2026 was primarily driven by a -42.4% change in the company's P/S Multiple.
(LTM values as of)731202611092026Change
Stock Price ($)12.476.98-44.0%
Change Contribution By: 
Total Revenues ($ Mil)180178-1.1%
P/S Multiple0.60.3-42.4%
Shares Outstanding (Mil)88-1.7%
Cumulative Contribution-44.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/9/2026
ReturnCorrelation
NRDY-44.0% 
Market (SPY)0.8%26.0%
Sector (XLK)-2.5%17.3%

Fundamental Drivers

The -48.0% change in NRDY stock from 4/30/2026 to 11/9/2026 was primarily driven by a -46.3% change in the company's P/S Multiple.
(LTM values as of)430202611092026Change
Stock Price ($)13.416.98-48.0%
Change Contribution By: 
Total Revenues ($ Mil)179178-0.5%
P/S Multiple0.60.3-46.3%
Shares Outstanding (Mil)88-2.6%
Cumulative Contribution-48.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/9/2026
ReturnCorrelation
NRDY-48.0% 
Market (SPY)5.0%22.0%
Sector (XLK)7.3%15.0%

Fundamental Drivers

The -53.0% change in NRDY stock from 10/31/2025 to 11/9/2026 was primarily driven by a -50.5% change in the company's P/S Multiple.
(LTM values as of)1031202511092026Change
Stock Price ($)14.856.98-53.0%
Change Contribution By: 
Total Revenues ($ Mil)178178-0.2%
P/S Multiple0.70.3-50.5%
Shares Outstanding (Mil)88-4.9%
Cumulative Contribution-53.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/9/2026
ReturnCorrelation
NRDY-53.0% 
Market (SPY)11.3%29.2%
Sector (XLK)14.1%19.6%

Fundamental Drivers

The -84.9% change in NRDY stock from 10/31/2023 to 11/9/2026 was primarily driven by a -80.5% change in the company's P/S Multiple.
(LTM values as of)1031202311092026Change
Stock Price ($)46.206.98-84.9%
Change Contribution By: 
Total Revenues ($ Mil)1721783.8%
P/S Multiple1.70.3-80.5%
Shares Outstanding (Mil)68-25.3%
Cumulative Contribution-84.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/9/2026
ReturnCorrelation
NRDY-84.9% 
Market (SPY)86.2%31.1%
Sector (XLK)112.1%25.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NRDY Return-61%-50%52%-53%-36%-55%-96%
Peers Return-16%-13%31%-11%-23%-24%-50%
S&P 500 Return27%-19%24%23%16%8%96%

Monthly Win Rates [3]
NRDY Win Rate0%50%42%33%33%27% 
Peers Win Rate41%50%60%42%50%41% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
NRDY Max Drawdown--67%-53%-79%-58%-67% 
Peers Max Drawdown-47%-43%-36%-49%-53%-44% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CHGG, COUR, LRN, LOPE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/9/2026 (YTD)

How Low Can It Go

EventNRDYS&P 500
2025 US Tariff Shock
  % Loss-30.6%-18.8%
  % Gain to Breakeven44.0%23.1%
  Time to Breakeven63 days79 days
2024 Yen Carry Trade Unwind
  % Loss-51.6%-7.8%
  % Gain to Breakeven106.7%8.5%
  Time to Breakeven109 days18 days
2023 SVB Regional Banking Crisis
  % Loss-22.1%-6.7%
  % Gain to Breakeven28.4%7.1%
  Time to Breakeven5 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-60.5%-24.5%
  % Gain to Breakeven153.2%32.4%
  Time to Breakeven419 days427 days

Compare to CHGG, COUR, LRN, LOPE

In The Past

Nerdy's stock fell -30.6% during the 2025 US Tariff Shock. Such a loss loss requires a 44.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventNRDYS&P 500
2025 US Tariff Shock
  % Loss-30.6%-18.8%
  % Gain to Breakeven44.0%23.1%
  Time to Breakeven63 days79 days
2024 Yen Carry Trade Unwind
  % Loss-51.6%-7.8%
  % Gain to Breakeven106.7%8.5%
  Time to Breakeven109 days18 days
2023 SVB Regional Banking Crisis
  % Loss-22.1%-6.7%
  % Gain to Breakeven28.4%7.1%
  Time to Breakeven5 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-60.5%-24.5%
  % Gain to Breakeven153.2%32.4%
  Time to Breakeven419 days427 days

Compare to CHGG, COUR, LRN, LOPE

In The Past

Nerdy's stock fell -30.6% during the 2025 US Tariff Shock. Such a loss loss requires a 44.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Nerdy (NRDY)

Nerdy, Inc. (NRDY) is an educational technology company that operates a proprietary platform for live online learning. Leveraging advanced technology, including AI, Nerdy connects learners of various ages with expert instructors across a wide array of subjects. The company's fundamental purpose is to create value for both sides of its network: individuals seeking to learn and educators looking to share their expertise.

The company's learning destination offers a diverse range of educational experiences tailored to different needs and preferences. These formats include personalized one-on-one instruction, interactive small group classes, larger format group classes, and adaptive self-study programs. Nerdy's flagship business, Varsity Tutors, is central to its offerings, providing live online tutoring and class solutions.

Nerdy serves a dual customer base, making its solutions available directly to individual learners who seek supplemental education or skill development. Furthermore, the company partners with and provides its services to institutions such as schools and other organizations, integrating its robust online learning platform into their educational ecosystems to support broader learning initiatives.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Nerdy (NRDY):

  • An Uber for live online tutoring and classes.
  • A Chegg for live online instruction and one-on-one tutoring.
  • A modern, AI-powered Sylvan Learning Center, delivered entirely online.

AI Analysis | Feedback

  • Live Online Tutoring and Classes (Varsity Tutors): Nerdy's flagship service provides personalized and group live online learning experiences across various subjects.
  • One-on-one Instruction: Dedicated live online sessions connecting a single learner with an expert for personalized learning.
  • Small Group Classes: Live online learning sessions designed for a limited number of learners to interact with an instructor.
  • Large Format Group Classes: Live online educational sessions catering to a larger audience, typically for broader subject coverage.
  • Adaptive Self-Study: Technology-driven self-paced learning experiences tailored to individual learner progress and needs.

AI Analysis | Feedback

Nerdy (NRDY) primarily serves individual learners directly, although it also has offerings through schools and other institutions. Based on the description of its platform connecting "learners of various ages to experts" and its flagship business "Varsity Tutors," its major customer categories are:

  • K-12 Students (and their parents/guardians): This segment includes students from elementary to high school seeking academic support, homework help, test preparation (e.g., SAT, ACT, AP exams), and subject-specific tutoring across a wide range of subjects.

  • College/University Students: Learners pursuing higher education who need assistance with specific college-level courses, academic challenges, or preparation for standardized graduate school entrance exams (e.g., GRE, GMAT, LSAT).

  • Adult Learners/Professionals: Individuals seeking to acquire new skills, pursue professional development, prepare for certifications, or engage in personal enrichment learning across various subjects and disciplines offered on the platform.

AI Analysis | Feedback

Major Suppliers:

  • Amazon Web Services (part of Amazon.com, Inc. - AMZN)
  • Google Cloud Platform (part of Alphabet Inc. - GOOGL)
  • Stripe

AI Analysis | Feedback

Chuck Cohn, Founder, Chairman & CEO

Chuck Cohn founded Varsity Tutors (which became Nerdy) in 2007 during his junior year of college. He bootstrapped the company and, prior to focusing on Nerdy full-time, worked in energy & power investment banking at Wells Fargo Securities (Wachovia) and healthcare private equity at Ascension Ventures, an $800M AUM private equity fund. He also held positions as a Principal at A.G. Edwards & Sons, Inc., Wachovia Bank NA, and Principal-Global Sourcing at Harbour Group Industries, Inc. Nerdy went public in February 2021. He has a BSBA in Finance & Entrepreneurship from Washington University in St. Louis. Cohn founded Varsity Tutors LLC and Live Learning Technologies LLC in 2007.

Jason Pello, Chief Financial Officer

Jason Pello has 18 years of progressive experience in Finance and Accounting. Before joining Nerdy, he served as Vice President - Corporate FP&A at SAVE-A-LOT, a grocery chain owned by private equity. He also held roles as Vice President - Internal Audit and Interim Vice President FP&A at Caleres (formerly Brown Shoe Company), a publicly traded shoe retailer, and spent five years at Peabody Energy, a Fortune 500 coal company. Pello began his career at PwC, spending eight years in the firm's Assurance practice. He holds Bachelor's and Master's degrees in Accounting from the University of Missouri and is a registered CPA in Missouri.

John Paszterko, Chief Operating Officer

John Paszterko was appointed Chief Operating Officer of Nerdy on August 26, 2025. He joined Nerdy from Amazon, where he spent over nine years, most recently as Head of North America Customer Fulfillment (NACF) operations efficiency and technology integration. Prior to his time at Amazon, Paszterko served 10 years in the U.S. Army. He is a graduate of the United States Military Academy at West Point and holds a Master of Science in Global Business and Finance from Georgetown University.

Rian Schilligo, Chief People Officer

Rian Schilligo is the Chief People Officer at Nerdy, Inc. Her background includes serving as the VP of HR Business Partners, Talent Strategy, and Talent Acquisition at Caleres, Inc., a publicly traded footwear company, where she supported growth through diverse brand acquisitions. Schilligo holds a Master of Business Administration (MBA) degree in Human Resource Management and Marketing from Loyola University Chicago.

Chris Swenson, Chief Legal Officer

Chris Swenson serves as Nerdy's Chief Legal Officer and Corporate Secretary, having started the company's legal department in May 2015 as VP & General Counsel. He previously was a partner at Polsinelli PC, where he led the firm's startup ventures group, and served as outside counsel for Nerdy (then Varsity Tutors) since 2008. Swenson played a role in taking Varsity Tutors public through Nerdy Inc. in 2021. He holds a BSBA and a BA from Washington University in St. Louis and a JD from the University of Missouri-Kansas City.

AI Analysis | Feedback

The key risks to Nerdy's (NRDY) business include its challenges with NYSE compliance due to a low stock price and persistent unprofitability, intense competition in the online learning market leading to customer retention issues, and the impact of expiring federal funding on its institutional segment.

  1. NYSE Compliance and Persistent Unprofitability: Nerdy is currently facing compliance challenges with the New York Stock Exchange (NYSE) because its Class A common stock has traded below $1.00 for 30 consecutive days. The company is considering a reverse stock split to address this issue and regain compliance. This situation highlights persistent financial pressures, as Nerdy has reported ongoing net losses and negative operating cash flows, with profitability not expected in the near term.
  2. Intense Competition and Customer Retention Challenges: The online learning sector is highly competitive, with Nerdy facing rivals from both traditional education providers and other online platforms. Despite efforts to increase average revenue per member, the company has experienced a decline in active learning memberships, raising concerns about its ability to attract and retain customers in this crowded market.
  3. Dependence on Institutional Clients and Expiring Funding: Nerdy's institutional business segment is encountering significant headwinds due to the expiration of Elementary and Secondary School Emergency Relief (ESSER) funding. This federal funding has been a key driver of revenue in the education sector, and its absence is expected to lead to a continued decline in institutional revenue throughout 2025.

AI Analysis | Feedback

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AI Analysis | Feedback

Nerdy, Inc. (NRDY) operates within the expansive online learning and tutoring markets. The company's main products and services, primarily delivered through its flagship business Varsity Tutors, encompass live online tutoring and classes, which fall under the broader categories of e-learning and online tutoring services.

Addressable Market Sizes:

  • Global E-learning Services Market: The global e-learning services market was valued at approximately USD 299.67 billion in 2024. This market is projected to grow significantly, reaching an estimated USD 842.64 billion by 2030, with a compound annual growth rate (CAGR) of 19.0% from 2025 to 2030. Another source indicates a market size of USD 356.66 billion in 2025, projected to reach USD 1,307.62 billion by 2032, with a CAGR of 20.39%.
  • U.S. E-learning Market: The e-learning market in the United States exceeded USD 128.37 billion in 2024 and is expected to reach USD 278.27 billion by 2033, growing at a CAGR of 8.83% between 2025 and 2033. Another report estimates the U.S. e-learning market size at USD 145.52 billion in 2025, projected to reach USD 302.18 billion by 2034, with a CAGR of 8.46% from 2026-2034.
  • Global Online Tutoring Market: The global online tutoring market was valued at USD 37.74 billion in 2023. It is forecasted to reach USD 386.56 billion by 2032, growing at a CAGR of 29.5% during the forecast period of 2024-2032. Other estimates place the global online tutoring market at USD 8.36 billion in 2024, projected to grow to USD 27.63 billion by 2034, at a 12.7% CAGR. Another report states the market size as USD 8 billion in 2024, projected to reach USD 18.2 billion by 2030, with a CAGR of 14.6%.
  • North America Online Tutoring Market: North America held a share of over 30% in the global online tutoring market in 2020. In 2024, North America's online tutoring services market dominated with a revenue share of over 35%.
  • U.S. Private Tutoring Market: The private tutoring market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 15.74 billion by 2032.

AI Analysis | Feedback

Nerdy (NRDY) anticipates several key drivers to fuel its revenue growth over the next two to three years:

  1. Expansion of Consumer Learning Memberships and Increased Average Revenue Per Member (ARPM): Nerdy is focused on growing its consumer base by shifting towards higher-frequency, higher-value learning memberships. This strategy, combined with price increases for new consumer customers and improved user experiences, is expected to boost Average Revenue Per Member (ARPM) and enhance customer retention, thereby driving overall consumer revenue growth.
  2. Leveraging the Live+AI™ Platform and AI-Native Capabilities: The company completed the replatforming and launch of its Live+AI™ platform using AI-native coding in the fourth quarter of 2025. This advanced platform is projected to deliver more personalized learning experiences, increase the effectiveness of expert tutors, accelerate product development velocity, and improve unit economics, all contributing to future revenue expansion.
  3. Growth in Institutional Revenue (Varsity Tutors for Schools): Following challenges due to federal and state funding delays in 2025, Nerdy expects a more stable funding environment in the latter half of 2026. The flow-through of 2025 bookings into 2026, alongside the anticipated launch of new offerings for its Varsity Tutors for Schools segment, is expected to drive a return to growth in institutional revenue.
  4. Enhanced Operational Efficiency and Profitability for Reinvestment: Continuous improvements in operational efficiency, including AI-enabled productivity gains and diligent cost control, are leading to improved profitability. This stronger financial position allows Nerdy to make strategic investments in growth initiatives and enhance the learner experience, indirectly supporting and enabling future revenue expansion.

AI Analysis | Feedback

Share Repurchases

No information is available regarding formal share repurchase programs authorized or executed by Nerdy (NRDY) over the last 3-5 years.

Share Issuance

  • Nerdy became a public company in September 2021 through an IPO.
  • The number of outstanding shares for Nerdy increased significantly between 2021 and 2025. Shares outstanding grew from 79.23 million at the end of 2021 to 121.666 million by the end of 2025, indicating share issuances during this period.

Capital Expenditures

  • In Q4 2025, capital expenditures amounted to $5.4 million.
  • Product development costs, which are a component of capital allocation towards growth and improvement, were $9.6 million in Q4 2025, and $10.7 million in Q1 2025.
  • Nerdy completed a replatforming and launched its Live+AI™ platform using AI-native coding during Q4 2025, representing a significant investment in technology and the learner experience.

Better Bets vs. Nerdy (NRDY)

Peer Outperformance in Application Software

NRDY has trailed 84% of its 125 Application Software peers over 5Y. Among the peers that beat it are MSTR, DBX and DLB. Application Software ranks 12th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Application Software constituents that NRDY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
30%
of 151 industry peers · -45.9% return
3Y
14%
of 136 industry peers · -81.3% return
5Y
16%
of 125 industry peers · -94.1% return
Application Software peers with revenue growth within 4pp of NRDY's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
NRDY Nerdy 1.9% -1.9x -45.9%-81.3%-94.1% —
MSTR Strategy -0.5% -3.7x -48.1%146.7%46.2% +140pp
DBX Dropbox 0.9% 16.3x 5.5%22.4%14.2% +108pp
DLB Dolby Laboratories 1.8% 27.0x 1.8%-21.4%-21.0% +73pp
BLKB Blackbaud 2.3% 16.2x -4.8%-24.9%-36.1% +58pp
TRMB Trimble 1.2% -80.9x -30.7%30.7%-38.1% +56pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Application Software is NRDY's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 10 15.6%110.8%187.8% FLEX 499% · TTMI 428% · JBL 303%
Technology Distributors 9 50.7%59.2%59.9% AVT 146% · SNX 118% · CNXN 77%
Semiconductor Materials & Equipment 28 39.5%48.2%43.1% AXTI 370% · KLAC 281% · LRCX 274%
Communications Equipment 36 10.5%99.8%38.1% AAOI 806% · LITE 546% · ANET 461%
Electronic Components 24 20.6%78.5%33.8% CLS 1838% · BELFA 1082% · APH 310%
Electronic Equipment & Instruments 27 -5.1%32.8%-0.4% PI 129% · OSIS 112% · MIR 70%
Semiconductors 55 12.1%44.0%-5.3% MU 893% · AVGO 526% · NVDA 485%
Technology Hardware, Storage & Peripherals 21 13.0%88.7%-8.8% WDC 592% · DELL 581% · SMCI 538%
IT Consulting & Other Services 30 -17.7%-7.7%-25.2% APLD 293% · IBM 142% · GIB -10%
Internet Services & Infrastructure 6 -9.8%38.8%-29.7% GDDY 56% · VRSN 33% · AKAM -27%
Systems Software 70 -7.3%17.7%-52.9% ZETA 227% · CRWD 212% · CVLT 145%
Application Software ← 126 -11.5%-11.7%-55.7% PLTR 598% · FROG 180% · AGYS 141%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

NRDYCHGGCOURLRNLOPEMedian
NameNerdy Chegg Coursera Stride Grand Ca. 
Mkt Price6.390.613.7677.90116.246.39
Mkt Cap0.10.11.03.23.01.0
Rev LTM1782341,0682,5371,1481,068
Op Inc LTM-45-44-61466313-44
FCF LTM-18-1-11423265-1
FCF 3Y Avg-24355431624654
CFO LTM-12121650530216
CFO 3Y Avg-17807538528480

Growth & Margins

NRDYCHGGCOURLRNLOPEMedian
NameNerdy Chegg Coursera Stride Grand Ca. 
Rev Chg LTM-0.2%-47.7%44.3%2.5%5.3%2.5%
Rev Chg 3Y Avg1.9%-29.9%21.6%10.4%6.9%6.9%
Rev Chg Q-4.5%-40.2%94.0%3.0%2.4%2.4%
QoQ Delta Rev Chg LTM-1.1%-11.8%20.6%0.7%0.5%0.5%
Op Inc Chg LTM36.2%59.6%13.1%5.6%5.4%13.1%
Op Inc Chg 3Y Avg11.3%-109.4%28.2%34.8%9.0%11.3%
Op Mgn LTM-25.4%-18.6%-5.7%18.4%27.3%-5.7%
Op Mgn 3Y Avg-32.4%-15.2%-10.3%16.7%27.1%-10.3%
QoQ Delta Op Mgn LTM2.9%2.3%3.1%0.5%-0.5%2.3%
CFO/Rev LTM-6.7%5.3%1.5%19.9%26.3%5.3%
CFO/Rev 3Y Avg-9.3%14.2%10.3%16.0%26.1%14.2%
FCF/Rev LTM-9.9%-0.2%-1.0%16.7%23.0%-0.2%
FCF/Rev 3Y Avg-12.8%5.4%7.7%13.1%22.7%7.7%

Valuation

NRDYCHGGCOURLRNLOPEMedian
NameNerdy Chegg Coursera Stride Grand Ca. 
Mkt Cap0.10.11.03.23.01.0
P/S0.30.30.91.32.60.9
P/Op Inc-1.2-1.5-16.46.99.5-1.2
P/EBIT-1.2-1.7-16.47.19.5-1.2
P/E-1.8-1.7-6.59.711.9-1.7
P/CFO-4.55.461.76.49.96.4
Total Yield-51.4%-60.4%-15.4%10.6%8.4%-15.4%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-14.3%19.0%3.4%7.9%5.5%5.5%
D/E0.40.20.00.20.00.2
Net D/E-0.4-0.5-0.8-0.1-0.0-0.4

Returns

NRDYCHGGCOURLRNLOPEMedian
NameNerdy Chegg Coursera Stride Grand Ca. 
1M Rtn-2.6%-16.9%-27.2%-9.0%-27.3%-16.9%
3M Rtn-41.7%-28.3%-34.8%-2.9%-20.7%-28.3%
6M Rtn-51.2%-38.8%-33.7%-10.8%-28.2%-33.7%
12M Rtn-50.5%-31.4%-54.5%8.2%-30.0%-31.4%
3Y Rtn-82.9%-92.8%-79.9%39.1%-15.0%-79.9%
1M Excs Rtn2.5%-11.3%-21.7%-3.3%-21.7%-11.3%
3M Excs Rtn-38.5%-22.2%-29.5%3.2%-14.9%-22.2%
6M Excs Rtn-50.8%-38.4%-33.2%-10.3%-27.7%-33.2%
12M Excs Rtn-63.4%-49.3%-62.8%0.3%-40.2%-49.3%
3Y Excs Rtn-151.1%-164.0%-150.1%-31.4%-75.5%-150.1%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Tutoring179190193163 
Consumer    130
Institutional    5
Other    6
Total179190193163141


Net Income by Segment
$ Mil202520242023
Tutoring-61-67-68
Total-61-67-68


Price Behavior

Price Behavior
Market Price$6.98 
Market Cap ($ Bil)0.1 
First Trading Date11/27/2020 
Distance from 52W High-67.2% 
   50 Days200 Days
DMA Price$7.53$11.68
DMA Trenddowndown
Distance from DMA-7.3%-40.3%
 3M1YR
Volatility65.1%62.8%
Downside Capture275.65205.47
Upside Capture1.5187.43
Correlation (S&P 500)19.4%25.3%
NRDY Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-1.33-0.170.130.481.171.43
Up Beta-24.12-3.31-1.73-0.211.421.52
Down Beta-0.72-0.33-0.170.110.470.95
Up Capture-262%-121%-88%-14%58%89%
Bmk +ve Days12182862130427
Stock +ve Days9152251104319
Down Capture125%217%255%167%148%112%
Bmk -ve Days10253664121325
Stock -ve Days13274174142396

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NRDY
NRDY-50.4%62.8%-0.87-
Sector ETF (XLK)18.7%28.5%0.5918.8%
Equity (SPY)13.3%13.7%0.6528.5%
Gold (GLD)3.7%28.8%0.127.8%
Commodities (DBC)38.2%21.3%1.42-17.3%
Real Estate (VNQ)13.7%14.3%0.6514.7%
Bitcoin (BTCUSD)-25.3%43.6%-0.5518.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NRDY
NRDY-44.2%77.7%-0.40-
Sector ETF (XLK)17.1%26.5%0.5828.7%
Equity (SPY)11.8%17.3%0.5133.5%
Gold (GLD)17.8%19.1%0.756.7%
Commodities (DBC)8.0%19.6%0.294.3%
Real Estate (VNQ)1.5%18.9%-0.0326.7%
Bitcoin (BTCUSD)4.4%51.6%0.2721.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NRDY
NRDY-27.5%77.4%-0.46-
Sector ETF (XLK)23.1%25.3%0.8328.4%
Equity (SPY)15.3%18.0%0.7233.1%
Gold (GLD)12.1%16.5%0.606.5%
Commodities (DBC)7.6%18.1%0.334.0%
Real Estate (VNQ)6.1%20.7%0.2526.5%
Bitcoin (BTCUSD)60.0%66.3%1.0020.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 93020265.0%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest15.2 days
Basic Shares Quantity8.4 Mil
Short % of Basic Shares4.1%

Earnings Returns History

Updated 11/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-10.2%-14.0%-26.0%
5/7/2026-2.0%-5.2%-7.9%
2/26/20263.9%-1.9%-13.4%
11/6/2025-8.0%-5.3%51.9%
8/7/2025-14.7%-15.3%-13.3%
5/8/2025-6.1%8.0%9.2%
2/27/2025-4.4%1.9%-8.2%
11/7/2024-7.3%-5.6%84.3%
...
SUMMARY STATS   
# Positive557
# Negative151513
Median Positive5.0%5.8%30.4%
Median Negative-10.2%-14.0%-13.3%
Max Positive31.1%43.4%84.3%
Max Negative-48.1%-44.6%-43.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-10.2%-14.0%-26.0%
5/7/2026-2.0%-5.2%-7.9%
2/26/20263.9%-1.9%-13.4%
11/6/2025-8.0%-5.3%51.9%
8/7/2025-14.7%-15.3%-13.3%
5/8/2025-6.1%8.0%9.2%
2/27/2025-4.4%1.9%-8.2%
11/7/2024-7.3%-5.6%84.3%
8/8/2024-48.1%-44.6%-43.3%
5/7/2024-8.7%-18.5%-41.9%
2/27/2024-18.4%-9.2%-3.9%
11/7/2023-17.7%-15.2%-5.2%
8/8/2023-18.7%-13.9%-6.4%
5/9/2023-2.9%5.8%0.6%
2/28/202331.1%43.4%62.9%
11/14/202215.3%3.3%-10.2%
8/15/20225.0%-24.0%-21.2%
5/16/2022-24.9%-18.3%30.4%
2/28/20221.6%-11.5%13.1%
11/15/2021-21.3%-22.4%-31.4%
SUMMARY STATS   
# Positive557
# Negative151513
Median Positive5.0%5.8%30.4%
Median Negative-10.2%-14.0%-13.3%
Max Positive31.1%43.4%84.3%
Max Negative-48.1%-44.6%-43.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/07/202410-Q
12/31/202302/27/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202202/28/202310-K
09/30/202211/14/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/07/202410-Q
12/31/202302/27/202410-K
09/30/202311/07/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202202/28/202310-K
09/30/202211/14/202210-Q
06/30/202208/15/202210-Q
03/31/202205/16/202210-Q
12/31/202102/28/202210-K
09/30/202111/15/202110-Q
06/30/202110/25/2021424B3

Recent Forward Guidance

Updated 11/9/2026

Latest: Q3 2026 Earnings Reported 11/9/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 RevenueReported37.00 Mil38.00 Mil39.00 Mil13.4% Higher NewGuidance: 33.50 Mil for Q3 2026
Q4 2026 Non-GAAP Adjusted EBITDAReported 0 -1 Higher NewGuidance: -7.50 Mil for Q3 2026
2026 Cash and Cash EquivalentsReported35.00 Mil36.00 Mil37.00 Mil   


Prior: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 RevenueReported32.00 Mil33.50 Mil35.00 Mil   
Q3 2026 Non-GAAP Adjusted EBITDAReported-9.00 Mil-7.50 Mil-6.00 Mil   
2026 RevenueReported168.00 Mil171.50 Mil175.00 Mil-7.3% LoweredGuidance: 185.00 Mil for 2026
2026 Non-GAAP Adjusted EBITDAReported-4.00 Mil-2.00 Mil0  LoweredGuidance: 0 for 2026

Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 RevenueReported42.00 Mil43.00 Mil44.00 Mil-8.5% Lower NewGuidance: 47.00 Mil for Q1 2026
Q2 2026 Non-GAAP Adjusted EBITDAReported-2.00 Mil-1.00 Mil0  Lower NewGuidance: 0 for Q1 2026
2026 RevenueReported180.00 Mil185.00 Mil190.00 Mil0 AffirmedGuidance: 185.00 Mil for 2026
2026 Non-GAAP Adjusted EBITDAReported 0   AffirmedGuidance: 0 for 2026

Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 RevenueReported46.00 Mil47.00 Mil48.00 Mil2.2% Higher NewGuidance: 46.00 Mil for Q4 2025
Q1 2026 Non-GAAP Adjusted EBITDAReported 0   Higher NewGuidance: -1.00 Mil for Q4 2025
2026 RevenueReported180.00 Mil185.00 Mil190.00 Mil5.1% Higher NewGuidance: 176.00 Mil for 2025
2026 Non-GAAP Adjusted EBITDAReported 0   Higher NewGuidance: -20.00 Mil for 2025

Insider Activity

Updated 10/20/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Bagga, Atul Madan MohanChief Financial OfficerDirectSell102020265.982,35514,083569,386Form
2Swenson, Christopher CChief Legal OfficerDirectSell102020265.983,33019,913953,930Form
3Swenson, Christopher CChief Legal OfficerDirectSell91520269.051,74115,7561,473,792Form
4Bagga, Atul Madan MohanChief Financial OfficerDirectSell72120260.8336,42630,2341,214,766Form
5Paszterko, John AndrewChief Operating OfficerDirectSell72020260.8331,03425,7581,426,538Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Bagga, Atul Madan MohanChief Financial OfficerDirectSell102020265.982,35514,083569,386Form
2Swenson, Christopher CChief Legal OfficerDirectSell102020265.983,33019,913953,930Form
3Swenson, Christopher CChief Legal OfficerDirectSell91520269.051,74115,7561,473,792Form
4Bagga, Atul Madan MohanChief Financial OfficerDirectSell72120260.8336,42630,2341,214,766Form
5Paszterko, John AndrewChief Operating OfficerDirectSell72020260.8331,03425,7581,426,538Form
6Callaway, KyleChief Accounting OfficerDirectSell72020260.8313,37711,103404,310Form
7Swenson, Christopher CChief Legal OfficerDirectSell72020260.8322,70718,8472,049,207Form
8Swenson, Christopher CChief Legal OfficerDirectSell61820260.8820,15317,7351,664,635Form
9Cohn, Charles KChief Executive OfficerCharles K. Cohn Revocable Trust Agreement Dated February 10, 2016Buy61620261.00250,007250,007978,311Form
10Cohn, Charles KChief Executive OfficerCharles K. Cohn Revocable Trust Agreement Dated February 10, 2016Buy61520261.00251,081251,081728,304Form
11Cohn, Charles KChief Executive OfficerCharles K. Cohn Revocable Trust Agreement Dated February 10, 2016Buy61120260.91219,019199,307199,307Form
12Swenson, Christopher CChief Legal OfficerDirectSell52020260.8022,79618,2371,529,427Form
13Paszterko, John AndrewChief Operating OfficerDirectSell42020260.9331,78829,5631,069,272Form
14Swenson, Christopher CChief Legal OfficerDirectSell42020260.9369,79664,9101,799,159Form
15Swenson, Christopher CChief Legal OfficerDirectSell31820260.9018,36616,5291,803,938Form
16Pello, Jason HChief Financial OfficerDirectSell31820260.9030,60927,5482,286,563Form
17Pello, Jason HChief Financial OfficerDirectSell31220260.9275,00069,0002,365,536Form
18Pello, Jason HChief Financial OfficerDirectSell21820260.9749,81448,3202,566,848Form
19Swenson, Christopher CChief Legal OfficerDirectSell21820260.9732,64131,6621,962,060Form
20Paszterko, John AndrewChief Operating OfficerDirectSell12020261.0118,45718,642587,358Form
21Swenson, Christopher CChief Legal OfficerDirectSell122920251.3335,00046,5501,935,659Form
22Pello, Jason HChief Financial OfficerDirectSell121820251.2032,00638,4072,035,259Form
23Swenson, Christopher CChief Legal OfficerDirectSell121820251.2019,20423,0451,788,460Form
24Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121820251.22197,242240,63540,097,952Form
25Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121720251.36174,076236,74344,431,108Form
26Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121620251.38180,353248,88744,844,281Form
27Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121520251.38180,000248,40044,595,394Form
28Pello, Jason HChief Financial OfficerDirectSell121220251.3975,000104,2502,401,996Form
29Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121220251.40174,947244,92644,989,704Form
30Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121120251.44176,215253,75046,023,201Form
31Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy121020251.33184,491245,37342,273,174Form
32Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy120920251.40177,969249,15744,239,790Form
33Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy120820251.37186,930256,09443,047,977Form
34Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy120520251.31181,672238,85741,066,774Form
35Cohn, Charles KChief Executive OfficerCohn Family Investments Trust dtd 5/24/18Buy120420251.26198,100249,6061,610,925Form
36Cohn, Charles KChief Executive OfficerCohn Family Investments Trust dtd 5/24/18Buy120320251.32189,000249,4801,426,144Form
37Cohn, Charles KChief Executive OfficerCohn Family Investments Trust dtd 5/24/18Buy120220251.3280,708106,5351,176,664Form
38Cohn, Charles KChief Executive OfficerCohn Family Trust 5/24/18Buy120120251.25144,783180,9791,925,384Form
39Cohn, Charles KChief Executive OfficerCohn Family Trust 5/24/18Buy112820251.16119,242138,3211,618,808Form
40Cohn, Charles KChief Executive OfficerCohn Family Trust 5/24/18Buy112620251.05238,749250,6861,340,096Form
41Cohn, Charles KChief Executive OfficerCohn Family Trust 5/24/18Buy112520251.06187,200198,4321,099,785Form
42Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy112520251.0770,01074,91133,227,009Form
43Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy112420250.98203,500199,43030,363,604Form
44Cohn, Charles KChief Executive OfficerCohn Family Trust U/A/D 3/16/2017Buy112120250.91270,578246,22628,009,590Form
45Pello, Jason HChief Financial OfficerDirectSell111820250.8443,96936,9341,514,566Form
46Swenson, Christopher CChief Legal OfficerDirectSell111820250.8428,81024,2001,268,053Form
47Mrva, Gregory DirectSell111420250.8525,00021,250583,092Form
48Mrva, Gregory DirectSell111420250.8925,00022,250632,782Form
Core Cache Last Updated: 11/9/2026