NRDY - Earnings call transcript Q1 2024

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Operator

Good afternoon. Thank you for attending today's Nerdy Inc. Q1 2024 Earnings Call. My name is Tamia, and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. Instructions]. [Operator like Associate conference General now host, to pass Lynn, TJ Counsel to would over the your I of Nerdy.

proceed. may You

T. Lynn

Good and Chief Chief Financial joining for Officer of XXXX me thank Jason Nerdy's Executive Chuck and Pello, and are Chairman Quarter With Earnings us Founder, Cohn, Officer. Nerdy, First Call. afternoon, for you

with in With discuss expectations statement Chuck. the let measures is any company's to the of such a events, measures. in the all and refer to quarter Nerdy's GAAP. accept circumstances Not Please and future Any I the risks. today's me call the obligation any release but everyone prepared of over that and will results results discussion this statements, today or strategy, SEC turn forward-looking and any or we uncertainties disclaimers over including to to turn remind or today's to opportunities, revisions with Nerdy's first in risks actual made updates results. Before call in refer outlook. today's that, to change financial statements are or expected of contain discussion as of shareholder non-GAAP limited reconciliations the letter not these will respect to from operating results, does any expectations that are which statements Nerdy These to, the that financial based. Please with accordance involve to cause Chuck, to forward-looking date, reflect publicly letter announcing differ forward-looking plans, on I'll any filings change for could statements significant shareholder any for and conditions, materially undertake not forward-looking

Charles Cohn

both including executed to Thanks, year, everyone us across we out freemium full the institutional and In thank primary can year. learners TJ, deliver our laying you impact offerings, by to winning the the expanding for for the X goals first the strategies learner, we the number the laid scaling for product of quarter, foundation for consumer every against we introducing and today. growth profitable and joining

delivering quarter XXXX, resulting easier that total in our to XX% increasing to includes experience, consumers of customers spring engagement year-over-year subscription XX,XXX. which membership experience, consumer tutoring manage learning onboarding target it nondegree XX,XXX to tools make results. enhancing representing of active of continued with March as XX, and quarter, their first Our the We with yielding learning enhancements of the for resonate million revenue self-service year-over-year streamlining is membership company driving for of Learning first focus on and membership positive and $XX.X members semester, during revenue. has the guidance exceeding the the faced XX% XX% up relationships,

to results and the is products In increase our strategy we Our company us delivering at institutional to quarter, institutional first of total quarterly a than of representing an revenue. allowing $XX.X institutions larger revenue scale XX% million, year-over-year, XX% of record introduce before. ever delivered

the bringing Varsity team and districts. at XXX school additional million over Our Tutors different access students, million to total enabled platform to successfully X.X X.X students

scaling resources scale at become K-XX our at For Tutors credibility a this States. ourselves build we trust institutional they students to serve. majority set district way approximately Schools school the believe year. We for this the and live no full by robust be aim the United can of growth efficiently an our States for the that institutional the in ambitious tutoring cost test of year, in lay introduce online full year, the target the positive flow deliver a that to and scalable to for communities for to subscription XX access partners, winning million of a profitable cash consumer stated of offerings students we year. prep to we that the platforms learning XX% operating enabling set providing access-based the United of and of preferred to expected By both Varsity platform, in foundation The or the academic we the enrichment and start and to and population

to of During which first in of access-based $X.X positive Varsity positive and scale billion. range, above for operating was of The convergence our quarter, the which one us institutional for personalized of cash products and businesses intuitive serve our of customers Tutors slightly unify modern continued to resulted business user subscription models memberships is we both Varsity better needs and and into top learners. $XX,XXX, EBITDA and Schools consumer offerings, and experience and Schools the across allowing Tutors adjusted the consumer our the learning end to our active-based flow guidance subscription experiences

just easily K-XX, required sell graduate customers We such our organizational service more into professional of and do time and more. the audiences have enable we expect that beyond in across material and which these to future college changes, as in as consumer school, resources business us spanning and thousands efficiently subjects will

improve us leveraging on our one focus our leverage and times to the to and of us Our many by team convergence and product to focus efforts build better will simplify business allowing also allow engagement of we institutional and that with increase higher levels believe consumer execution and product, experience and can improvements of across businesses, pace the ultimately, growth our profitability. both we consumer have

lifetime our year-over-year engage product, customer personalized higher the of consumer subjects. improvement aims drove including retention predictive self-service cohorts and value. positive as the These and results. reinforce learning onboarding membership of introduced on to in experience, accountability formats personal tools, our quarter. experience, to experience, non-tutoring Based focus enhancing past the the is yielding past with streamlining changes when This encourage engagement which learning experience, achievement, improve it XX% Learning school we to deeply customer long-term to on is a discoverability engagement customers non-tutoring the Hub improving the your more new benefits, homepage among our membership first learning driving year, and stronger and highly My during Moving

also are our to oriented that systems. started invoicing We overhauling last marketplace our improvements fall deliver to infrastructure. scheduling around Two began projects and large

to We by expect recurring customer more improvements and enabling ultimately, drive user those and experience, sessions tutoring improvements material friction. our to less drive projects retention

in their into providing average which test in product model but first continue multiple These academic product, quarter, points and appeal to offering consumer per and revenue tiers are lower tests, ARPU journey. our pricing to the behavior. quarter, in we can teams additional to types ending decreased that signals of a price During month an of new effort preferences, learner the different intent, involve phases identify

of initial year freemium to impact offering is number strategies product the this freemium and as our of allow of our college mentioned and a earlier, customer that our study dates multiple natural enrichment. in learners and we help, to prep, one audience our broader super points online a both expand institutional journey. It I meets on-ramp homework far power education can multiple video-based, version The our consumer across admissions also upsell introduce which goals us consumer across offerings. live As tutoring, by introducing to is across our serves support, one-to-one learner's needs,

school program. in time. we and and ACT universities their have well great way, membership as experience following reinstate place on These both of an support broadly both are given isolated offerings of money example increases rolling customers prep paid demand are to they work learning as as this SAT focus and testing where ACT is to users in and the an This our mission an area we tutoring prep appeal in of out a subset ACT announcing will and in audiences, to districts approach convergence SAT premium colleges once of is scores While our testing again, will our SAT and all we're subjects building part with the a criteria. aim to leveraging experiencing here test interested

XXX,XXX schools high to Varsity institutional Schools sessions, comes scale Teacher Turning simple the high-dosage administer tutoring our operations district XXX% school all-time school range an tutoring resources through teachers, choose Institutional product as choose an Varsity well growing platform parent learning institutional tools Tutors automatically District tutoring. partners. through as access of The home. our products, to demonstrating well fit, attention to district ability to to up through between customers entire models our academic reached of needs now leaders, now to to as parents. the oversee of memberships ability to Utilization for of and with with market Parent the to X allows at high-dosage can a year-over-year, parents offering to for for Assigned. as business. access Assigned, decide powerful with our The meet learning those Assigned, Tutors empower or platform provided

provided us large preferred consumer at lay trusted also foundation early families. chat-based and academic Varsity trust and classes a and provide on no classes Self-study we ultimately and programs. to the live subjects. at focused enrichment, ourselves week and district-wide per they platform drive in This for that Varsity assessments, tutoring to our prep introduce Tutors and review. platform build on-demand district, allow academic a the In implement includes all for the addition cost, to students students, business. test platform to on-demand downstream efficiently strategy and Tutors all By typically to value strategy of we set tools, access robust brand this high-dosage to enrichment, tutoring within resources high-dosage as partners The group models tutoring, XX/X effects these career look test support to of recorded is the providing Free as results. no Hundreds credibility at adaptive is schools of halo essay becoming a cost, in these their believe more. yielding enabling aim us and scale college students readiness to which prep, access positive resources, can K-XX could to to are students' more subset

we to also in program enabled as support the access. As able to to related parent memberships that preliminary as Tutors our year the to Furthermore, be this X.X resources. tutoring availability due school of for health a to students discussions sign, result enable benefit engaged Concurrent suburban recently from shifted to access discussions the consumers at the led platform of these utilizing students, and one school school XX,XXX academic subscriptions the safety who a as of X,XXX those X.X school. night district district to school a access districts. with additional than with hundreds Coast purchase of Varsity we to focused weekly over efforts school Varsity customer providing to East million to learning We enabled ability XX,XXX belong us of the how X,XXX be partner not classes. Initial us about paid assigned Nearly announce assigned and million directly test upcoming learning more to join the live to is to consistently district. to see purchased XXX Tutors on an large them parents design parents successfully district our students, in the bringing towards and strategy of of them our a a other on or conversations parents at momentum hold, total membership platform models our and learned vetted first discount, district able rollout school to half seeking larger the students us for enrichments, from about the powerful the attended taking the teacher That paid example quickly on-site to support for the physically prep free are issues. students marketing parent

institutional, and K-XX a scalability no-cost Our partner. premium represents awareness In and credibility specific focus includes motion efforts. closing, growing By on efforts people the subscription most our our active-based high-dosage technology. company converging and school products way go-to-market each are and effective platform significant districts parents, learn we to a consumer a upsell and build new building transform by way learning focusing is and models across sales opportunity business with business accelerate to support to we of that indicators the to simplifying through tutoring as go-to-market our this tutoring strategy policymakers trust access the for

turn higher We We time. With of and our discuss to us allow more innovate expect over lead profitability with I'll in drive to and changes levels continued of interest over to our detail. financials your engagement to call the in faster, Jason? these customer products appreciate will levels company. that, growth higher Jason the

Jason Pello

Thanks, Chuck, and everyone. good afternoon,

goals initial with As Chuck the first represented X was $XX.X year-over-year, quarter, institutional made mentioned, that happy year-over-year first we year. by and that we revenue which achieving In I'm primary strong the Nerdy the Revenue X% businesses, our delivered up growth. to out laid in consumer progress respectively. the and results quarter, share towards both you were XX% driven growth X% of million, for

lead membership our subscription value lifetime level and learning margin, continues old increased economics, model to learning efficient membership quarter customer first the scalable revenue. appeal, higher customer model broader XX% in Our gross million package higher represented and total of a more to year-over-year to more company unit XX% revenue duration longer Consumer relative and attractive of $XX.X model. relationships, and operating

March resulted acquisition approximately of were quarter customer in million resonate year-over-year XX learning to a Active exceeded from with XX% of of the ARPU learners. our memberships continue XX% first of memberships of at in up first $XXX of $XXX healthy growth quarter approximately increase annualized consumer year-over-year XX% as at guidance of as remained the with quarter New rate end, and XX,XXX members year-over-year. an the end run target XX,XXX. learning

business quarterly hiring record institutional institutional. buying on Varsity million, Our and headcount embedding platform within service revenue sales increase back-to-school for million. the the ramping delivered delivered and of bookings $X.X reflect of year-over-year optimizing the of XX% numbers longer-term focus an Bookings and $XX.X Tutors opportunity and period the of

increase of our XXXX. in by new our on year-over-year. Sales institutional consumer quarter XX.X% period the year. in and within $X.X the the the products million high marketing utilization The were higher a of $XX.X basis quarter in an million our increase sessions gross of Moving during profit GAAP $XX.X expenses business from of the the for increased same were period school primarily to seasonally margin quarter XX% down businesses. a compared institutional of expenses, period noncash P&L. the of year. scaling XX% excluding was to $XX.X profit X% marketing period during the across of primarily decrease in XX% margin million $XX.X Gross sales compensation, revenue same driven first and to was compared and The in last of in revenue or continued gross in year. million to same Gross stock-based due gross or first Non-GAAP million in last tutoring million, access-based margin $XX.X

Included than to impacts in doubling initiatives, growing Varsity by close learning awareness the driven a by in greater accelerate our General model of efficient alignment by for year. $XX.X $XX.X compared revenue were the for of quarter a period $XX XX% same and excluding GAAP of million also administrative the revenue G&A same We tutoring that consumer the the to for the way in local continue offset in invest more increase development were operating capture effective million, efficiencies last or allows is same basis number million the memberships, Tutors of increase to territories of market, compensation, product last Schools an million partially expenses $XX.X ensure marketing state and organization $X.X go-to-market from most activity in which year. transition from to driven drive year. more on learning costs an was costs presence, was stock-based increased by million business. the which period $XX.X educators. Non-GAAP These a of were in million by last to $X.X in the noncash period G&A $X.X million, to million, XX% the

growth to subscriptions simplify non-GAAP platform revenues guidance learning organization, for product efficiency teacher, of of driven and were million have $XX,XXX our our us assigned end EBITDA continuously actually spaced in We gains. non-GAAP Our operating to allowed platform-oriented institutional consumers range EBITDA our live in subscription us the of the products, adjusted including and top parent profitability which continued EBITDA primarily the investments the for in platform. maximize investment our quarter, higher relative needed customers. to adjusted and above negative improvements delivered first memberships access breakeven. adjusted and Non-GAAP to offering Swedes model by slightly $X and approach operating improve launch margin and development offerings guidance our allows our support learning and These to to district

During our of operating the cash ample also fund liquidity flow debt and $X.X positive we of With million. balance have growth on delivered we million first initiatives. sheet, business the we to cash no and quarter, believe $XX pursue

Today, are business quarter the to Turning and reaffirming full outlook. we EBITDA year the guidance introducing guidance. and second for the year previously of provided revenue adjusted

in to as subscribers revenues be will higher of year-over-year of Varsity learning LTV with continue consumer growth continued expect we extension our learning by business, our Schools. corresponding driven the revenue rapidly Tutors for institutional membership We and memberships increase the growth coupled in the scale number

acquisition healthy, with the New in policymakers, most in platform way that demand educators, and member the by a learning year the us remains of tutoring and provides customers confidence joining learning for accelerate parents, is awareness the to growing effective the ahead. offerings

impacted legacy XXXX included not $X.X prior last the transition Second revenue the our longer consumer no quarter package we That of memberships subscription-based business. year quarterly the to half is package year. Once million revenues our of when year, learning in in the in period due comparable growth are recur revenues. reach does in the to completion comparable of revenue second by

growth accelerate, sequential XXXX. in quarterly delivered acceleration the consistent to we with We expect

investments and product School's business growth. drive continued Varsity access-based the on leverage long-term operating customers continuing full Second which quarter relationships benefits subscription offset completion innovation to to adjusted guidance products, year and for go-to-market and recurring from revenue and continued evolution models, our in high-value non-GAAP our with by revenue support from development stemming EBITDA Tutors reflects our of the partially focus organization

the million quarter $XX the to second of million. revenue $XX of expect For XXXX, in range we

$XXX $XXX reaffirming revenue million, we midpoint $XXX growth at million of are the versus to guidance our representing the of the in previously provided year, XXXX revenue XX% For range million. for full

adjusted negative For million. $X second to we XXXX, expect of the the quarter $X in of negative EBITDA non-GAAP million range

year, non-GAAP our the adjusted EBITDA EBITDA in the are an over range $X in of margin reaffirming non-GAAP points XXX improvement of midpoint. $XX we full adjusted million, million at For to expectation for the basis

operating We that, it XXXX. again also our continued and for your operator the turn expect to time to you flow cash for in company. for thank With over deliver your I'll In closing, interest in Operator? Q&A. positive

Operator

Absolutely.

session. will now We the [Operator question-and-answer begin Instructions].

with Smilek question comes The Bryan from first JPMorgan.

Bryan Smilek

of both think platform, to X.X convergence member potential into relative on just timing especially to of one million and with But students Just the help pricing? think VTS you how interplay broadly, the from membership access and continue VTS. to about of as into magnitude start growth growth just us we businesses can in cohesive side, more the conversions consumer test about guess, given should and ARPU have you especially I XXXX, more the premium

Charles Cohn

Great question. Bryan. Thanks,

So, we had great a quarter.

they of the for So, results against. we're quarter build year, our made how rest the proud the some and strategic objectives that the first of in we progress of good

So, sides and products to the our to your consumer of together both question relates having institutional that how on back more house, then the and of bringing convergence unified experience. offering then related freemium a

good progress already year. this journey to progress say past expect where make a is and sequential So, made have that's will I substantial a it one. And we over

on The over can institutional true our learning program in expect able A to consumer we're of business elements be different all SAT both across So, to opposite we ACT, we leverage recent that play number is subjects as example also over the advancing platform. first time on out that to effectively our the deliver to live times. will and could build our That's able once is that leverage going time, well. then a be of business. would be

into subjects and So, professional And middle and to experiences high elementary easier there's start actively we X,XXX school, school, school, segment. more as we becomes these graduate make that college, track that seamless the burners. institutional and adult to in selling call roughly, school, different consumer it, spans offerings continue it easier

to that, be really about able then investments. more which way excited get to of our and out the we're So, extent leverage we'll

gets same or you a We that going really it's you're that we comes it to unified that experience also, consumer school. there's the a have, experience And by whether has as a good a learner type continuity having be of learner a think relationship. from through who experience, that who

so to are a of extend to their can the from seeing that districts having whatnot. the We -- benefit like want some families program school those some families that then also discount vetted sort provider many actually of and and communities

sense, really, there's countless continuity be time. So, expect would and between over the examples the just further where makes good of lot interplay a really to businesses we

Operator

you. Canaccord. The from with comes Maria question next Thank Ripps

Maria Ripps

just trajectory to revenue about ask of wanted Great. through the I your sort year.

But healthy a visibility it about you your package expected instead revenue we given can mind? of trajectory So, from sort in the mind. into seems like fairly revenue sort understanding in anything maybe there second the should the ramp keep that half the guide, component you is of standpoint seasonality of your QX and of just keep in legacy talk should we there. of that whether level seasonality from this sort standpoint, different Anything

Jason Pello

Yes, Thanks This the is Jason. for question. Maria.

think I back seasonally doing on business important remember And larger to with consumer our much half lot that of back-to-school. work the we're side. a the is a has what's

inside the sales doubled you go-to-market quarter, of mentioned about increase the we think and organization. conversion ability the least the move as account the on amount of the platform, side, one when throughout through to So, see learning territories first institutional then on our team I that the consumer number year the the we're well year. of working then the we side call, you executives memberships, increase in on highest at and seeing to school the we ability building we're out to to that it than build levels next, during customers the are from and parallel, think as And engagement to an more retain

revenue that in seeing that third the of side, sales increased the as increased bookings we which we're towards market we'll impacts quarter we level specifically us see just in mentioned move institutional of in the activity the give fourth the team back-to-school, certainly. on confidence the the in quarter, corresponding level the So, and build,

Maria Ripps

for And access guess, Got for talk ambitious year. the target costs it. million you mentioned Varsity that that to this your sort then target? very you so maybe Can Schools Tutors you? That's additional helpful. would students of XX integration with enabling entails? And what require about how What we about associated of should kind from think this of of some I just

Charles Cohn

Sure.

we just actually strategic So, value be And in build credibility a districts with students as a effective it's those it's trust school effective way if way highly embedded districts school more anything, think more show to them. and and within to use get meetings, it's it. to

with and halo credibility well, build You trust leading as those a families ultimately to effect.

particularly call investing key last over we're we sales the so, and to effort districts of realized they we We or some as region effective our that on, that much very year a as they were when sold it, within our our organization is local performance go-to-market focused learnings. not, in kind And tried sales were multistate think reviewed school large find localized when market what than to Xx as a that. more

we that builds for high-dosage the ultimately think excited So, throughout about more tutoring over effective time, more a us we're substantially how that sell in to allows year. and pretty way

cases. be conversations platform XXXX, because able to guaranteeing about strategies relates holistic through the in we're access conversations very nature it the and different span that have to specifically, it oriented use interesting tend to multiple what's As around is access

in effective having is and different through than some actually our includes marginal to more more sales special bear conversations strategic an course. And localized just but to the high-dosage that's overall itself includes all kind a associated includes duration more longer lending we're of to tutoring, bring past. programs, our that X access had our education. platform been and with cost strategy, independent of certainly there's team, able It products. summer the So, far of go-to-market offering resources And of case cost

Operator

[Operator you. Thank Instructions].

Andrew Boone with Citizens. comes Our next question from

Unknown Analyst

And freemium? for for how think with This On versus [ consumer XXXX? launch my following is Joanna Boone. Nerdy's the so we marketing is balancing about much. awareness ] investments should second, first Diaz where school of on Andrew districts Thanks question,

Jason Pello

I'll we on maybe That much awareness. second that of school to is the pace. the districts school product. open mentioned the doors helping at many access at back-to-school provide last is with platform space actively the students it's head that the We're the enable institutional subsequent freemium first. we to the question, as can we dialogues country a leading conversations especially feel question about, to that engaging to drive How us start with in into larger value continue as allowing substantial Chuck within through given paid districts faster period. in good Certainly,

X% So, while it's the way, and about early about million feel on bodes we're freemium well year, our we've which on U.S. already, student we journey population target the the of well, ambitious good X.X that really and with signed think to up the institutional space, fact entire platform sign I access that. on an within of is $XX students full the million up

Charles Cohn

consumer On side, is the marketing Chuck. this

want able And to the itself the of top over features funnel for last somebody and purchase. course to more to the see of to resonate the months, that to likely through better audiences We conversion are offering cause to getting at different good that And really and we've we're several compelling continues at historically then continue to membership that improve pulls highlighting then been be retention. different better engagement. the

in then value a extension. retention, shipped through which corresponding engaging, increase And we classes lifetime made we've and self-study great, more ultimately intuitive, of like course, feel so, in seen more those turn, product good elements in of some improvements falls more tools, which certain about we've engagement, to and as how that drives

particularly and to through levels higher how elements, of combination and more feel we've we likely retention, and outset of as to of products discoverability, So, customer drives recommendations costs. lower kind builds improved pull that the and we've that the then that then shift offerings somebody about would more those acquisition compelling buy, certain ultimately seen make LTV. And good conversion at that

Operator

Northland Securities. with next [Operator you. comes question Gibas Instruction]. Greg Thank The from

Gregory Gibas

what of of between jumping already if mean, more weakest, expecting change, it QX. in there's a addressed but seasonality but the a still -- and implying Been seemingly, I kind kind sorry of like this, you seems few the drove kind calls QX

wondering Just is seems what than a like anticipated. it kind mean, just bit drove you're seeing that? previously of that I lower little QX

Charles Cohn

question. Good Sure.

different there. So, couple there's of elements a

The drive of some that something to mix tests in encouraged are positive little recognize That's trends. enough we're mix some going make of leaned we background. we aggressively we're have the strategy, on ensuring more learning we escape and a I early heading that where and of into first by little kind is that signal some pretty we an of really conscious but of bit kind while continue impact in seeing on a more the data freemium to we're wanting to faster. learn revenue be velocity We based to engagement shift think to and the where back-to-school, that more

of that's seasonality So, change and little of element choice kind the a lean one there. was in to

than ship levels of pulling they've than in the through. little updates The bit probably we're pretty the higher of engagement, since had a second is better we couple expected. shipped, a different about later product quarter we that And excited

And learning So, sessions was expected. will just there's and engagement, definitely you the later had little probably the total And that retention than platform. in earlier be. better on we been a bit your acceleration usage the the get

other expected. forward, large improve just And bookings focus motion, so us, the QX QX And our than that to localized in around school that later districts. for and revenue. third the cover. institutions to more access to offering reps on strategy a into frankly, school just that's we going little the just the just to element then bit builds, So, city, to pull-through from they'll VT engagement leaning then, Again, maybe I very proximate relates but the getting selling districts think,

up of credibility trust ultimately excited different to great So, all a this we is States becoming de United We're think back-to-school how school to sets builds long-term the is winning tutoring different commercial embedded the getting opportunities, us that platform and around of in strategy. districts these about a way sorts facto establish oriented and that in we're for particular. in and all

focus and is on really that everywhere. shipping ourselves the getting So, product embedded

Gregory Gibas

institutional And addressed still what shift Great. Very going it the from early this, or takeaways but it's And you at this expected of you you model, point? shift at premium this to once but do is if apologize that as insights know that I helpful. kind point? I of kind side, early, have regarding again,

Jason Pello

utilization basis, of much at we pace. self-study Great. get higher is districts to school them paid immense Great one, regular with platform the district products faster used our it halo products. provide to free to platform of think perceived similar those their of to those the into level in across on which offerings. of first drive our in doors with early with able value it And the will they're district from and districts tools, is for as open strategy, and upsell has offerings to platform and and question. Maybe has chat-based effect students pay us with leaders. the some a partners both more from both engage high space. foremost, consumer institutional us of we And on students, districts a school school partners. them for insights engagement access classes, And all the real Many then school free students value that allowing and our in access It's driving as school tutoring a

closure deals And it's contract ability time basis, access lines. signals paid institutional us around customers early of transition is customers. So, paid retention pulling go-forward then drive platform to a to which legacy also attach our on to all allowing forward offerings, to the

net-net, So, ability well its strategy access into to and back-to-school period that. beyond platform and really the good build about feel the we

Gregory Gibas

the color, results. on congrats And Got the it. strong Appreciate guys.

Operator

XXXX further time. no This questions are Inc. concludes Nerdy QX the Call. this at participation. you for Earnings There Thank your

You disconnect lines. may now your

Nerdy (NRDY) 7 May 242024 Q1 Earnings call transcript