Nerdy Inc. (NRDY) Financial Statements (2023 and earlier)

Company Profile

Business Address 101 S. HANLEY RD., SUITE 300
ST. LOUIS, MO 63105
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments90,715143,964534
Cash and cash equivalents90,715143,964534
Receivables11,5965,321 
Prepaid expense   278
Other current assets5,3456,165 
Total current assets:107,656155,450812
Noncurrent Assets
Property, plant and equipment12,50410,718 
Intangible assets, net (including goodwill)9,29110,145 
Goodwill5,7175,717 
Intangible assets, net (excluding goodwill)3,5744,428 
Asset, held-in-trust   450,006
Other noncurrent assets3,241832 
Total noncurrent assets:25,03621,695450,006
TOTAL ASSETS:132,692177,145450,818
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,1993,590534
Accounts payable3,1993,590 
Accrued liabilities   534
Deferred revenue25,53930,005 
Derivative instruments and hedges, liabilities   59,537
Due to related parties  841 
Other liabilities8,5937,473 
Total current liabilities:37,33141,90960,071
Noncurrent Liabilities
Liabilities, other than long-term debt14,31139,431 
Other liabilities14,31139,431 
Other undisclosed noncurrent liabilities   15,750
Total noncurrent liabilities:14,31139,43115,750
Total liabilities:51,64281,34075,821
Temporary equity, carrying amount   450,006
Equity
Equity, attributable to parent, including:46,92850,663(75,009)
Additional paid in capital522,031490,220 
Accumulated other comprehensive income (loss)(12)136 
Accumulated deficit(475,107)(439,708)(75,010)
Other undisclosed equity, attributable to parent16151
Equity, attributable to noncontrolling interest34,12245,142 
Total equity:81,05095,805(75,009)
TOTAL LIABILITIES AND EQUITY:132,692177,145450,818

Income Statement (P&L) ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Revenues162,665140,664 
Cost of revenue
(Cost of Goods and Services Sold)
(49,732)(46,700) 
Gross profit:112,93393,964 
Operating expenses(203,742)(190,418) 
Other undisclosed operating loss   (33,323)
Operating loss:(90,809)(96,454)(33,323)
Nonoperating income (expense)(183)(8,552)6
Investment income, nonoperating   6
Other nonoperating expense(183)(8,552) 
Interest and debt expense  3,326 
Loss from continuing operations before equity method investments, income taxes:(90,992)(101,680)(33,317)
Other undisclosed income (loss) from continuing operations before income taxes27,10371,041 
Loss from continuing operations before income taxes:(63,889)(30,639)(33,317)
Income tax expense(19)(40) 
Loss from continuing operations:(63,908)(30,679)(33,317)
Loss before gain (loss) on sale of properties:(30,679)(33,317)
Net loss:(63,908)(30,679)(33,317)
Net income attributable to noncontrolling interest28,5093,354 
Other undisclosed net income attributable to parent  23,546 
Net loss available to common stockholders, diluted:(35,399)(3,779)(33,317)

Comprehensive Income ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Net loss:(63,908)(30,679)(33,317)
Other undisclosed comprehensive income (loss)(266)(26) 
Comprehensive loss:(64,174)(30,705)(33,317)
Comprehensive income, net of tax, attributable to noncontrolling interest28,6273,372 
Other undisclosed comprehensive income, net of tax, attributable to parent  23,533 
Comprehensive loss, net of tax, attributable to parent:(35,547)(3,800)(33,317)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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