Nerdy Expects Q3 Revenue Of $35M - $38M (Est $49.36M); Cuts FY24 Outlook From $232M - $246M To $196M - $204M (Est $237.57M)
Portfolio Pulse from Benzinga Newsdesk
Nerdy Inc. (NRDY) has revised its Q3 2024 revenue expectations to $35M-$38M, significantly below the estimated $49.36M. The company also cut its FY24 revenue outlook from $232M-$246M to $196M-$204M, below the estimated $237.57M. Adjusted EBITDA for Q3 is expected to be between negative $19M and negative $17M, and for the full year, between negative $21M and negative $19M. Despite these revisions, Nerdy expects a return to durable and profitable growth by the end of the year.
August 08, 2024 | 9:01 pm
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Nerdy Inc. has significantly lowered its Q3 and FY24 revenue expectations, which are well below analyst estimates. The company also projects negative adjusted EBITDA for both Q3 and the full year. Despite these negative revisions, Nerdy expects to return to profitable growth by the end of the year.
The significant downward revision in revenue expectations and the projection of negative adjusted EBITDA for both Q3 and the full year are likely to negatively impact investor sentiment and the stock price in the short term. However, the company's expectation of returning to profitable growth by year-end may provide some long-term optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100