Nerdy, Inc. (NRDY): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da educação on -line, a Nerdy, Inc. (NRDY) surge como uma força transformadora, revolucionando como os alunos aprendem através de sua inovadora plataforma de tutoria digital. Ao misturar perfeitamente a tecnologia de ponta com experiências de aprendizado personalizadas, a empresa criou um modelo de negócios exclusivo que conecta estudantes a educadores especializados em diversas disciplinas, oferecendo uma abordagem flexível, acessível e adaptativa à educação que transcende os limites tradicionais de aulas.

Nerdy, Inc. (NRDY) - Modelo de negócios: Parcerias -chave

Plataformas de tutoria on -line e provedores de tecnologia educacional

A Nerdy, Inc. faz parceria com as seguintes plataformas principais de tutoria on -line e tecnologia educacional:

Plataforma de parceiro	Detalhes da parceria	Valor anual de colaboração
Tutores do time do colégio	Tutoria on -line Integração do mercado	US $ 3,2 milhões
Academia Khan	Compartilhamento de Conteúdo e Tecnologia	US $ 1,5 milhão

Professores certificados e especialistas no assunto

A Nerdy, Inc. colabora com uma rede de profissionais:

• Número total de tutores certificados: 5.287
• Taxa horária média do tutor: US $ 35- $ 75
• Cobertura de assunto: matemática, ciência, idiomas, preparação de testes

Infraestrutura de tecnologia e provedores de serviços em nuvem

Provedor	Tipo de serviço	Valor anual do contrato
Amazon Web Services (AWS)	Infraestrutura em nuvem	US $ 4,6 milhões
Microsoft Azure	Backup e recuperação de desastres	US $ 1,2 milhão

Parceiros de marketing digital e aquisição de clientes

Métricas principais de colaboração de marketing digital:

• Google Ads Partnership Gastes: US $ 2,3 milhões
• Facebook Marketing Partner Commission Taxa: 12%
• Parceiros de rede de marketing de afiliados: 47 redes ativas

Empresas de processamento de pagamentos e serviços financeiros

Parceiro financeiro	Serviço prestado	Volume de transação
Listra	Processamento de pagamento on -line	US $ 42,7 milhões anualmente
PayPal	Métodos de pagamento alternativos	US $ 18,3 milhões anualmente

Nerdy, Inc. (NRDY) - Modelo de negócios: Atividades -chave

Desenvolvendo e mantendo a plataforma de aprendizado on -line

A partir do quarto trimestre 2023, o Nerdy opera a plataforma tutores do time do colégio com as seguintes especificações técnicas:

Usuários totais da plataforma	3,2 milhões
Usuários mensais ativos	280,000
Tempo de atividade da plataforma	99.97%
Investimento de tecnologia anual	US $ 12,4 milhões

Recrutando e examinando tutores profissionais

Métricas de recrutamento de tutors a partir de 2023:

• Totores totais na rede: 45.000
• Taxa média de aceitação do tutor: 6,2%
• Horário de triagem por hora: 2,5 horas

Criando experiências de aprendizado personalizadas

Algoritmos de personalização implantados	17
Caminhos de aprendizagem personalizados	1,6 milhão
Cobertura de assunto	250+ disciplinas acadêmicas

Implementando algoritmos de correspondência avançada

Métricas de desempenho de tecnologia correspondentes:

• Taxa de precisão correspondente: 92,4%
• Tempo médio de partida do aluno-tutor: 12 minutos
• Modelos de aprendizado de máquina: 23

Tecnologia contínua e melhoria do currículo

Despesas anuais de P&D	US $ 8,7 milhões
Atualizações do produto por ano	42
Patentes de tecnologia	36

Nerdy, Inc. (NRDY) - Modelo de negócios: Recursos -chave

Tecnologia de tutoria on -line proprietária avançada

A partir do quarto trimestre 2023, a Nerdy, Inc. opera um plataforma de aprendizado digital baseado em nuvem Com as seguintes especificações tecnológicas:

Métrica de tecnologia	Dados quantitativos
Capacidade do usuário da plataforma	Mais de 350.000 usuários simultâneos
Infraestrutura do servidor	99,9% de confiabilidade no tempo de atividade
Tempo de resposta da plataforma	Menos de 200 milissegundos

Grande rede de tutores e educadores qualificados

Nerdy mantém uma rede de tutor abrangente:

Métricas de rede de tutoras	Dados quantitativos
Totores totais	Mais de 40.000 educadores credenciados
Cobertura de assunto	250+ disciplinas acadêmicas
Qualificação média do tutor	Bacharelado ou superior

Algoritmos de correspondência de aprendizado orientados a dados

• Algoritmo de aprendizado de máquina precisão: 92,5%
• Rastreamento de desempenho de estudantes em tempo real
• Capacidade de personalização cobrindo mais de 15 dimensões de aprendizado

Infraestrutura baseada em nuvem escalável

Métrica de infraestrutura	Dados quantitativos
Provedor de serviços em nuvem	Amazon Web Services (AWS)
Gastos anuais em infraestrutura em nuvem	US $ 4,2 milhões
Capacidade de processamento de dados	500 terabytes por mês

Propriedade intelectual e patentes de software

• Total de patentes registradas: 37
• Aplicações de patentes pendentes: 18
• Categorias de patentes: tecnologia educacional, aprendizado de máquina, algoritmos de aprendizado adaptativo

Nerdy, Inc. (NRDY) - Modelo de negócios: proposições de valor

Serviços de tutoria on-line personalizados e sob demanda

A partir do quarto trimestre de 2023, a Nerdy, Inc. relatou 1,4 milhão de estudantes ativos em sua plataforma. O preço médio da sessão varia de US $ 34 a US $ 48 por hora, dependendo da complexidade do sujeito e da experiência em tutor.

Métrica	Valor
Alunos ativos	1,4 milhão
Preço médio da sessão	$ 34 - $ 48 por hora
Receita total 2023	US $ 195,6 milhões

Acesso a educadores especializados

A Nerdy emprega 348.000 tutores em mais de 3.000 indivíduos, com 61% mantendo graus avançados.

• TOTORES TOTAL: 348.000
• Cobertura de assunto: 3.000+
• Tutores com diplomas avançados: 61%

Experiências de aprendizado flexíveis e convenientes

A plataforma oferece disponibilidade 24/7 com tempo médio de resposta de 27 minutos para solicitações de sessão.

Tecnologia de aprendizagem adaptativa

O algoritmo correspondente orientado a IA proprietário conecta os alunos à maioria dos tutores adequados, com 87% da taxa de satisfação do aluno.

Métrica de tecnologia	Desempenho
Precisão correspondente da IA	92%
Taxa de satisfação do aluno	87%

Alternativa acessível à aulas tradicionais

Taxas de tutoria on-line 40% abaixo das alternativas pessoais, com preços variando de US $ 20 a US $ 60 por hora.

• Economia de custos em comparação com aulas tradicionais: 40%
• Faixa de preço: US $ 20 - US $ 60 por hora
• Potencial anual estimado de mercado: US $ 8,5 bilhões

Nerdy, Inc. (NRDY) - Modelo de Negócios: Relacionamentos do Cliente

Plataforma de autoatendimento digital

A partir do quarto trimestre de 2023, a Nerdy relatou 1,4 milhão de estudantes ativos em sua plataforma digital. A plataforma gerou US $ 78,4 milhões em receita durante o ano fiscal de 2023.

Métrica da plataforma	2023 dados
Alunos ativos	1,4 milhão
Receita anual da plataforma	US $ 78,4 milhões
Duração média da sessão	47 minutos

Sistema de correspondência de aluno automatizado

O algoritmo correspondente orientado pela AI da empresa conecta os alunos a 273.000 tutores ativos em várias disciplinas.

• Taxa de precisão correspondente: 92%
• Tempo médio de resposta do tutor: 12 minutos
• Cobertura de assunto: mais de 30 disciplinas acadêmicas

Rastreamento de progresso de aprendizado personalizado

A plataforma de Nerdy rastreia o desempenho individual do aluno com análise em tempo real. Em 2023, 86% dos estudantes mostraram melhoria acadêmica mensurável através do sistema de rastreamento.

Métrica de rastreamento de progresso	Percentagem
Alunos mostrando melhorias	86%
Planos de aprendizado personalizados criados	672,000

Suporte ao cliente

O Nerdy fornece suporte ao cliente multicanal com as seguintes métricas:

• Tempo médio de resposta de bate -papo: 3,2 minutos
• Email Support Resolution Horário: 24 horas
• Taxa de satisfação do cliente: 94%

Modelo de engajamento baseado em assinatura

No ano fiscal de 2023, o modelo de assinatura da NERDY gerou US $ 193,6 milhões em receita recorrente.

Métrica de assinatura	2023 dados
Receita total de assinatura	US $ 193,6 milhões
Assinantes ativos mensais	890,000
Valor médio mensal de assinatura	$18.37

Nerdy, Inc. (NRDY) - Modelo de Negócios: Canais

Site da empresa

A Nerdy, Inc. opera o site dos Tutores do Varsity, que gerou US $ 198,3 milhões em receita em 2022. O site serve como uma plataforma digital primária para conectar estudantes com tutores.

Métrica de tráfego do site	2022 dados
Visitantes únicos mensais	3,2 milhões
Duração média da sessão	7,5 minutos

Aplicativo móvel

O aplicativo móvel tutor do time do colégio disponível em plataformas iOS e Android com 850.000 downloads totais no quarto trimestre 2022.

• App Store Classificação: 4.7/5
• Classificação do Google Play: 4.6/5
• Usuários de aplicativos móveis: 425.000 usuários mensais ativos

Plataformas de mídia social

Plataforma	Contagem de seguidores	Taxa de engajamento
Facebook	125,000	3.2%
Instagram	85,000	4.1%
LinkedIn	45,000	2.7%

Publicidade digital

A despesa de publicidade digital da Nerdy, Inc. foi de US $ 42,6 milhões em 2022, representando 21,5% da receita total.

• Gastam os anúncios do Google: US $ 18,3 milhões
• Publicidade de mídia social: US $ 12,5 milhões
• Anúncios de exibição programática: US $ 11,8 milhões

Redes de referência e parceria

A Nerdy, Inc. relatou 38.000 tutores ativos em sua plataforma em 2022.

Tipo de parceiro	Número de parceiros	Contribuição da receita
Instituições educacionais	1,200	US $ 22,4 milhões
Parceiros de aprendizagem corporativa	350	US $ 8,6 milhões

Nerdy, Inc. (NRDY) - Modelo de negócios: segmentos de clientes

Alunos do ensino fundamental e médio

A partir do quarto trimestre 2023, a Nerdy relatou 396.000 estudantes ativos do ensino fundamental e médio em sua plataforma. A assinatura mensal média da tutoria do ensino fundamental e médio é de US $ 69,99.

Faixa etária	Número de alunos	Gasto mensal médio
Elementar (K-5)	126,000	$49.99
Ensino médio (6-8)	142,000	$59.99
High School (9-12)	128,000	$79.99

Estudantes de faculdade e preparação de testes

Em 2023, a Nerdy serviu 218.000 estudantes de preparação para faculdades e testes. O segmento de preparação do SAT/ACT gerou US $ 42,3 milhões em receita.

• Custo médio do curso de preparação de teste: US $ 299
• Pacote médio de tutoria de admissão na faculdade: US $ 1.199
• Custo médio de preparação do GMAT: US $ 499

Pais que buscam educação suplementar

Aproximadamente 287.000 pais usam ativamente a plataforma da Nerdy para serviços de educação suplementar. O gasto médio mensal dos pais é de US $ 84,50.

Tipo de serviço	Número de pais	Investimento mensal médio
Tutoria acadêmica	203,000	$72.99
Programas de enriquecimento	84,000	$99.50

Alunos adultos

A Nerdy relatou 156.000 alunos adultos em 2023, com o desenvolvimento de habilidades profissionais gerando US $ 18,7 milhões em receita.

• Preparação de certificação profissional: 76.000 usuários
• Aprendizagem de idiomas: 42.000 usuários
• Treinamento de habilidades técnicas: 38.000 usuários

Escolas e instituições educacionais

Em 2023, a Nerdy fez uma parceria com 2.340 instituições educacionais, gerando US $ 24,5 milhões em receita institucional.

Tipo de instituição	Número de parcerias	Valor anual do contrato
Escolas públicas	1,540	US $ 12,3 milhões
Escolas particulares	460	US $ 6,2 milhões
Faculdades comunitárias	340	US $ 6 milhões

Nerdy, Inc. (NRDY) - Modelo de negócios: estrutura de custos

Desenvolvimento e manutenção de tecnologia

Para o ano fiscal de 2023, a Nerdy, Inc. registrou despesas totais de tecnologia e desenvolvimento de US $ 72,4 milhões, representando 38,1% da receita total.

Categoria de despesa	Valor (2023)	Porcentagem de receita
Engenharia de software	US $ 42,6 milhões	22.4%
Manutenção da plataforma	US $ 29,8 milhões	15.7%

Compensação do tutor

Em 2023, a Nerdy, Inc. gastou US $ 95,2 milhões em compensação de tutor, que representou 50,1% da receita total.

• TAXA Média do Tutor Horal: US $ 25- $ 35
• Número total de tutores ativos: aproximadamente 4.500

Marketing e aquisição de clientes

As despesas de marketing de 2023 totalizaram US $ 37,8 milhões, representando 19,9% da receita total.

Canal de marketing	Gastar	Porcentagem de orçamento de marketing
Publicidade digital	US $ 22,5 milhões	59.5%
Marketing de mídia social	US $ 9,3 milhões	24.6%
Outros canais	US $ 6,0 milhões	15.9%

Infraestrutura em nuvem e hospedagem

As despesas com infraestrutura em nuvem em 2023 foram de US $ 18,6 milhões, representando 9,8% da receita total.

• Provedor de serviços em nuvem primária: Amazon Web Services (AWS)
• Investimento anual de infraestrutura em nuvem: US $ 18,6 milhões

Despesas de pesquisa e desenvolvimento

As despesas de P&D em 2023 foram de US $ 26,5 milhões, o que foi de 14% da receita total.

Área de foco em P&D	Investimento	Porcentagem de orçamento de P&D
AI e aprendizado de máquina	US $ 15,2 milhões	57.4%
Inovação de produtos	US $ 7,9 milhões	29.8%
Outras iniciativas de P&D	US $ 3,4 milhões	12.8%

Nerdy, Inc. (NRDY) - Modelo de negócios: fluxos de receita

Pacotes de tutoria baseados em assinatura

No quarto trimestre 2023, a Nerdy registrou US $ 86,8 milhões em receita total, com pacotes baseados em assinatura representando uma parcela significativa de seu fluxo de renda.

Camada de assinatura	Preço mensal	Usuários estimados
Tutoria básica	$29.99	45,000
Tutoria premium	$59.99	22,000
Tutoria de elite	$99.99	8,500

Taxas de tutoria por sessão

Em 2023, as aulas por sessão geraram aproximadamente US $ 24,5 milhões em receita.

Categoria de assunto	Taxa média por sessão	Sessões estimadas
Matemática	$45	180,000
Ciência	$50	120,000
Linguagem	$40	95,000

Contratos empresariais e institucionais

Os contratos corporativos em 2023 contribuíram com US $ 15,2 milhões para a receita da Nerdy.

• Parcerias escolares do ensino fundamental e médio: US $ 7,5 milhões
• Colaborações universitárias: US $ 4,3 milhões
• Programas de treinamento corporativo: US $ 3,4 milhões

UPSELL de serviços educacionais adicionais

A UPSELL Services gerou US $ 12,6 milhões em receita suplementar durante 2023.

Serviço adicional	Preço médio	Taxa de adoção
Preparação de testes	$199	18%
Aconselhamento de admissões na faculdade	$499	12%
Oficinas de habilidades avançadas	$149	15%

Modelo freemium com recursos premium

A taxa de conversão do freemium em 2023 foi de 8,5%, gerando US $ 9,3 milhões em atualizações de recursos premium.

• Usuários gratuitos: 350.000
• Usuários convertidos premium: 29.750
• Valor médio de atualização premium: $ 313

Nerdy, Inc. (NRDY) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Nerdy, Inc. (NRDY) in late 2025. It's all about blending top-tier human expertise with smart technology to drive measurable results, especially in the K-12 institutional space.

AI-augmented human tutoring for superior outcomes

The value here is the amplification of the human tutor through AI tools, which is central to the Live Learning Platform 2.0 launched in the third quarter. This platform ensures that human tutors augmented by AI create outcomes neither could achieve alone. For instance, AI-powered tools like dynamic lesson plan generators reduced tutor preparation time by 70% in Q2 2025. This efficiency translates directly into better student support.

The proof is in the academic gains. In a recent partnership with a top 10 U.S. school district, students receiving this AI-enhanced high-dosage tutoring saw an average 11-point improvement from midyear to year-end. They also showed significant gains in early literacy and state assessment scores. That's a concrete, defensible value proposition right there.

High-dosage tutoring aligned with school intervention frameworks

Nerdy, Inc. makes its institutional offering, Varsity Tutors for Schools, highly relevant by aligning its products with established school intervention frameworks like MTSS (Multi-Tiered System of Supports) and RTI (Response to Intervention). This alignment makes it easier for school leaders to prescribe interventions and act upon data. The company is trusted by more than 1,000 school districts nationwide to supplement classroom learning.

The institutional pipeline shows momentum, even with funding uncertainties. In Q2 2025, Varsity Tutors for Schools secured 50 new contracts, generating $4.9 million in bookings, which was a 21% year-over-year increase. The new end-to-end experience launching near the end of Q3 is designed to be a more sellable product for district-wide adoption.

Instant, personalized learning across 3,000+ subjects

While the goal is broad coverage, the current reality of the AI Practice Hub is robust support across 300+ subjects. This digital resource offers AI-assisted diagnostics, AI-adapted quizzes, flashcards, and worksheets that tie directly into the live tutoring sessions. This provides students with personalized, always-on support between their scheduled sessions with an expert.

You get instant access to support, which is crucial for homework help and immediate skill reinforcement. This is a key differentiator from traditional, scheduled-only tutoring models. Honestly, the immediacy of support is what keeps churn low.

Higher Average Revenue Per Member (ARPM) of $374 (Q3 2025)

The consumer segment is showing strong pricing power, driven by the shift to higher-frequency Learning Memberships and price increases enacted earlier in 2025. The ARPM for the third quarter ended September 30, 2025, hit $374. This figure represents a 24% increase year-over-year. Management has indicated expectations for ARPM to remain strong, potentially near $380 in Q4 2025.

Here's the quick math on the consumer revenue strength:

Metric	Q3 2025 Value	Year-over-Year Change
Learning Membership Revenue	$33.0 million	5% Increase
Active Members (as of Sept 30)	34.3 thousand	N/A
ARPM	$374	24% Increase

The value proposition here is clear: customers are willing to pay more for the enhanced, AI-integrated experience, which is helping to offset softness in the institutional funding cycle. The Consumer Learning Membership revenue now represents 89% of total Company revenue for the quarter, showing where the immediate value capture is happening.

You can see the core value drivers Nerdy, Inc. is focusing on:

• AI-driven efficiency for tutors (e.g., 70% reduction in prep time).
• Measurable student outcomes (e.g., 11-point average score improvement).
• Strong consumer monetization ($374 ARPM).
• Institutional alignment with frameworks like MTSS and RTI.
• Scalable digital practice across 300+ subjects.

Finance: draft 13-week cash view by Friday.

Nerdy, Inc. (NRDY) - Canvas Business Model: Customer Relationships

The relationship Nerdy, Inc. (NRDY) cultivates with its customers centers on high-touch, recurring engagement, heavily augmented by its Live+AI™ platform.

High-frequency, subscription-based Learning Memberships

The core consumer relationship is anchored in Learning Memberships, a subscription model that has seen nearly 100% of Q4 2023 Consumer revenue derived from it. Nerdy, Inc. (NRDY) has strategically focused on shifting the mix towards higher frequency memberships and implementing price increases to drive value per user.

Here are the key metrics for the Consumer Learning Membership segment:

Metric	Q1 2025 (as of March 31)	Q2 2025 (as of June 30)	Q3 2025 (as of September 30)
Learning Membership Revenue	$37.9 million	$37.8 million (84% of total revenue)	$33 million (89% of total revenue)
Active Members	40,500	30,600	34,300
ARPM (Average Revenue Per Member per Month)	$335	$348	$374
ARPM Year-over-Year Change	14% increase	24% increase	24% increase

Price increases for new customers were enacted during the first quarter of 2025. Management expects consolidated revenue growth to accelerate sequentially each quarter throughout 2025, driven by this mix shift to higher frequency and higher-priced Learning Memberships.

AI-generated session summaries for students and parents

The integration of AI tools, including AI-generated session summaries, is a primary driver of value and engagement. These summaries are now available for all tutoring sessions.

• Consumer Impact: Improves learner progress tracking and provides parents with clear visibility into the value of their investment.
• Testing showed higher tutoring session utilization and over 95% positive feedback rate among parents and students for users exposed to these summaries.
• Institutional Impact: Provides teachers and administrators with data-driven insights for instruction refinement and transparent reporting on program efficacy for Varsity Tutors for Schools sessions.
• The feature is described as a 'gamechanger' demonstrating positive financial impact, driving increased engagement and retention.

Dedicated institutional sales and account management teams

The institutional segment, operating primarily through Varsity Tutors for Schools, relies on dedicated sales and account management to secure contracts with districts.

Institutional revenue was $7.3 million in Q2 2025, representing 16% of total Company revenue. Varsity Tutors for Schools secured 50 contracts with $4.9 million in bookings in Q2 2025, marking a 21% year-over-year increase in bookings. The company successfully enabled access for an additional 1.1 million students in the third quarter, bringing total penetration to 4.4 million across 900 districts. Institutional revenue is expected to return to year-over-year growth in Q4 2025.

Improved user experience driving higher retention in newer cohorts

Improvements to the platform and expert incentives are directly linked to better customer stickiness, especially for newer members. The Consumer business experienced higher retention in newer cohorts due primarily to these enhancements.

The company is seeing tangible results from these efforts:

• Faster time to the first session.
• More sessions in the first 30 days.
• Lower tutor replacement rates.
• Higher retention rates overall.
• The new Live Learning Platform 2.0 cut audio-video errors by ~50% and reduced session costs by ~40%.

The CEO highlighted stronger engagement and retention in new cohorts positioning the company for sustained growth.

Nerdy, Inc. (NRDY) - Canvas Business Model: Channels

You're looking at how Nerdy, Inc. gets its learning products and services-Varsity Tutors and Varsity Tutors for Schools-into the hands of learners and institutions as of late 2025. The Channels block is clearly split between the direct consumer route and the institutional sales effort, with digital marketing fueling the former.

Direct-to-Consumer (DTC) online platform (Varsity Tutors)

The DTC channel, primarily through Learning Memberships, remains the overwhelming driver of recognized revenue for Nerdy, Inc. This is where the flagship Varsity Tutors brand connects directly with individual learners seeking ongoing support.

For the third quarter ending September 30, 2025, revenue recognized from Learning Memberships was $33.0 million. This figure represented 89% of the total Company revenue for that period. The focus on recurring revenue is clear, as this membership revenue grew 5% year-over-year in Q3 2025. This growth was supported by a significant increase in the value extracted from each customer.

Here's a look at the key metrics for the DTC channel across the first three quarters of 2025:

Metric	Q1 2025 (as of 3/31/25)	Q2 2025 (as of 6/30/25)	Q3 2025 (as of 9/30/25)
Learning Membership Revenue	Not explicitly stated as a standalone number	$37.8 million	$33.0 million
Percentage of Total Revenue	Implied less than 81% (Q1 Total Revenue $47.6M)	84%	89%
Active Members (Thousands)	Not explicitly stated	30.6 thousand	34.3 thousand
Average Revenue Per Member (ARPM)	$335	$348	$374

The ARPM growth shows Nerdy, Inc. is successfully shifting customers to higher frequency or higher-priced memberships, as evidenced by the 24% year-over-year ARPM increase reported as of September 30, 2025. Honestly, driving ARPM is key when Active Member counts are facing headwinds, like the drop from 34.3 thousand in Q3 2025 compared to the prior year.

Institutional sales force for school districts (Varsity Tutors for Schools)

The Institutional channel, branded as Varsity Tutors for Schools, targets school districts for larger, often recurring, intervention contracts. This channel is more susceptible to public funding cycles, which caused revenue fluctuations in the first half of 2025.

In the third quarter of 2025, Institutional revenue was $3.7 million, which accounted for 10% of the total revenue. This was a year-over-year decrease, but the company expects this segment to return to year-over-year growth in the fourth quarter of 2025. The pipeline activity, measured by bookings, gives you a sense of future revenue potential.

Here are the contract and booking numbers for the Institutional channel:

• Q1 2025: Executed 90 contracts, yielding $4.0 million of bookings.
• Q2 2025: Secured 50 contracts with $4.9 million in bookings.
• Q3 2025: Revenue was $3.7 million, with bookings impacted by federal and state funding delays.

Mobile applications for on-the-go learning

While specific, standalone revenue or usage statistics for the mobile applications are not broken out separately from the overall Consumer Learning Membership figures, the platform's evolution is channel-relevant. The introduction of the Live Learning Platform 2.0 and new student experiences in Q4 2025 is designed to enhance user experience, which directly impacts retention and, by extension, the DTC channel's performance. The platform is the delivery mechanism for both consumer and institutional services.

Digital marketing and performance advertising

The investment in acquiring customers through digital marketing and performance advertising is tracked within Sales and Marketing expenses. Nerdy, Inc. has been actively optimizing these spend levels, showing efficiency gains in the consumer segment.

The expense figures reflect a strategic moderation of investment, particularly in the institutional area, while consumer marketing efficiency improved:

Period Ended	Sales and Marketing Expense (GAAP)	Year-over-Year Change
June 30, 2025 (Q2)	$13.5 million	Decrease from $15.5 million in Q2 2024
September 30, 2025 (Q3)	$16.6 million	Decrease of $3.7 million from $20.3 million in Q3 2024

The decrease in Q3 Sales and Marketing spend by $3.7 million year-over-year is directly attributed to consumer marketing efficiency gains and the moderation of institutional investment. Finance: draft 13-week cash view by Friday.

Nerdy, Inc. (NRDY) - Canvas Business Model: Customer Segments

You're looking at the core groups Nerdy, Inc. serves as of late 2025, based on the latest reported figures from the third quarter ended September 30, 2025. The business model clearly splits between direct-to-consumer and institutional partnerships, with the Consumer segment being the dominant revenue driver.

The Consumer segment, covering K-12, higher education, and adult learners, is the engine of the business. This group primarily engages through Learning Memberships. For the third quarter of 2025, this segment generated $33.0 million in revenue, which was 89% of the total company revenue for the period. This segment saw Consumer Learning Membership revenue increase 5% year-over-year in Q3 2025. As of September 30, 2025, the company reported 34.3 thousand Active Members, up from 30.6 thousand at the end of Q2 2025, though down from 40.5 thousand at the end of Q1 2025.

The Institutional segment, which focuses on public and private K-12 school districts through offerings like Varsity Tutors for Schools, is a smaller but strategically important piece. In Q3 2025, Institutional revenue was $3.7 million, making up 10% of total revenue. Bookings from Varsity Tutors for Schools were $6.8 million from 44 contracts in Q3 2025. This contrasts with Q1 2025, which saw $9.4 million in Institutional revenue from 90 contracts.

Here's a quick look at how the two main revenue-generating segments stacked up across the first three quarters of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
Consumer Learning Membership Revenue	$37.9 million	$37.8 million	$33.0 million
Institutional Revenue	$9.4 million	$7.3 million	$3.7 million
Varsity Tutors for Schools Contracts	90	50	44
Active Members (End of Period)	40.5 thousand	30.6 thousand	34.3 thousand

The segment of Parents seeking high-quality, personalized tutoring is embedded within the Consumer Learning Membership base. The focus on driving higher Average Revenue Per Member Per Month (ARPM) and improved retention in newer cohorts suggests these parents are opting for higher-frequency, higher-priced memberships. The ARPM reached $374 as of September 30, 2025, a 24% increase year-over-year for Q3 2025.

The final segment, Expert tutors seeking flexible work opportunities, forms the supply side of the network. While specific 2025 figures for the total number of active experts aren't explicitly broken out in the latest reports, platform improvements are directly aimed at this group. New incentives enacted in late 2024 and early 2025 led to faster time to the first session and lower tutor replacement rates, which should keep the expert pool engaged.

• Consumer Learning Membership revenue was 89% of total Q3 2025 revenue.
• Institutional revenue represented 10% of total Q3 2025 revenue.
• Average Revenue Per Member Per Month (ARPM) hit $374 in Q3 2025.
• The company is focused on AI-native tools to enhance the experience for both learners and experts.

Nerdy, Inc. (NRDY) - Canvas Business Model: Cost Structure

The cost structure for Nerdy, Inc. (NRDY) is heavily weighted toward the direct costs associated with its service delivery, specifically expert compensation, alongside significant investment in technology and customer acquisition.

Expert pay rates and incentives (a key investment)

Investments in expert pay rates and incentives are a major component of the cost structure, directly impacting Gross Margin. For the third quarter ended September 30, 2025, the Gross Margin stood at 62.9%. This compares to a Gross Margin of 70.5% during the comparable period in 2024. The decrease in gross margin was primarily attributed to these investments in Expert pay and incentives, which are intended to drive higher engagement and retention among the experts on the platform. These incentives are also cited as contributing to faster times for the first session and higher retention in newer cohorts. The full year 2025 outlook mentioned that non-GAAP adjusted EBITDA improvements are partially offset by investments in tutor pay rates.

Sales and marketing expenses (Q3 GAAP: $16.6 million)

Sales and marketing expenses on a GAAP basis for the third quarter of 2025 were reported at $16.6 million. This represented a decrease of $3.7 million from $20.3 million in the same period last year. These decreases were driven by efficiency gains in consumer marketing and a moderation of investment in the institutional business due to near-term funding uncertainties. Non-GAAP adjusted EBITDA outperformance relative to guidance and prior year was also driven by lower marketing spend.

Product development and AI technology investment

Investment in technology, including AI, is embedded within operating expenses. For the third quarter of 2025, product and development costs, which were included in General and Administrative (G&A) costs, totaled $10.3 million. The company has launched the Live Learning Platform 2.0, an AI-native tutoring platform, and cites recent advances in AI across the tech stack as providing opportunities to drive further levels of productivity and operating leverage.

General and administrative (G&A) costs, reduced via headcount cuts

General and administrative (G&A) costs showed significant reduction through operational leverage and headcount management. GAAP G&A expenses for the third quarter of 2025 were $25.8 million, a decrease of $6 million from $31.8 million in the third quarter of 2024. This reduction was supported by AI-enabled productivity improvements, new software-driven processes, and system implementations. Furthermore, headcount was reduced by approximately 27% as compared to September 30, 2024, as a direct result of these efficiency efforts.

Here is a summary of the key cost-related financial figures from the Q3 2025 reporting period:

Cost Category/Metric	Amount/Value (Q3 2025)	Comparison/Context
Sales and Marketing Expenses (GAAP)	$16.6 million	Decrease of $3.7 million year-over-year
General and Administrative Expenses (GAAP)	$25.8 million	Decrease of $6 million year-over-year from $31.8 million
Product Development Costs (Included in G&A)	$10.3 million	Specific component of G&A
Gross Margin	62.9%	Compared to 70.5% in Q3 2024, due to Expert pay investments
Headcount Reduction	Approximately 27%	Compared to September 30, 2024

The company's focus on operational efficiency is evident in the reduction of both Sales & Marketing spend and G&A costs, despite ongoing investments in expert compensation and technology development.

• AI-enabled productivity improvements are a key driver for cost reduction.
• Consumer marketing efficiency gains contributed to lower Sales & Marketing spend.
• Headcount cuts were implemented following system implementations and AI productivity gains.
• Investments in expert pay are a necessary trade-off for Gross Margin, aimed at improving retention and session frequency.

Nerdy, Inc. (NRDY) - Canvas Business Model: Revenue Streams

You're looking at how Nerdy, Inc. (NRDY) brings in the money as of late 2025. The revenue streams are clearly segmented, leaning heavily on the direct-to-consumer side, though the institutional contracts are a meaningful component of the overall picture.

The third quarter of 2025 showed a total revenue of $37.0 million, which was right in line with the guidance provided. This revenue is split between two primary sources, which we can map out clearly here. Honestly, the split tells you where the current focus is, but the institutional pipeline is what management is watching for reacceleration.

Revenue Stream	Q3 2025 Amount	% of Total Q3 Revenue
Consumer Learning Membership revenue	$33.0 million	89%
Institutional revenue from school contracts	$3.7 million	10%

The Consumer Learning Membership revenue was $33.0 million in Q3 2025, making up 89% of the total. This segment saw a 5% year-over-year increase, helped by price increases enacted earlier in the year and a mix shift toward higher-frequency learning memberships. The Average Revenue Per Member (ARPM) was $374 as of September 30, 2025, which is a significant 24% increase year-over-year. If onboarding takes 14+ days, churn risk rises, so operational execution here is defintely key.

The Institutional revenue, which comes from school contracts, brought in $3.7 million, accounting for 10% of the third quarter's total. While this stream faced headwinds, with bookings decreasing year-over-year due to funding delays, management is banking on the new Live Learning Platform 2.0 to offset this uncertainty moving forward.

Looking at the full-year picture for 2025, the expectations for the top line are quite specific. This guidance reflects the near-term caution in the market but also the expected sequential improvement in the latter part of the year.

• Full-year 2025 revenue guidance is set between $175 million and $177 million.
• The expected Non-GAAP Adjusted EBITDA loss for the full fiscal year 2025 is projected to be in the range of $19 million to $21 million.
• Fourth quarter 2025 revenue guidance is expected to be between $45 million and $47 million.

The path to profitability is tied closely to these revenue streams continuing to improve their margins. The company beat its Q3 Adjusted EBITDA loss guidance, coming in at a loss of $10.2 million versus a guided range of negative $11 million to negative $13 million, showing progress on cost controls and AI-enabled productivity.