Nerdy Inc. reported third quarter revenue of $37.0 million, a 1% decrease compared to $37.5 million in the same period of 2024, attributed to lower Institutional revenue partially offset by higher consumer revenue. The company forecasts fourth quarter 2025 revenue between $45.0 million and $47.0 million and full year 2025 revenue between $175.0 million and $177.0 million. Nerdy expects a non-GAAP Adjusted EBITDA loss of $2.0 million to breakeven for the fourth quarter, and a full year loss between $19.0 million and $21.0 million. The company anticipates ending the year with $45.0 million to $48.0 million in cash, including $20.0 million from a new Term Loan. Recent business developments include the launch of version 2.0 of its Live Learning Platform and new student and tutor experiences.