Nerdy, Inc. (NYSE:NRDY) Q2 2022 Earnings Conference Call August 15, 2022 5:00 PM ET

Company Participants

Molly Sorg - Head, Investor Relations

Chuck Cohn - Founder, Chairman and Chief Executive Officer

Jason Pello - Chief Financial Officer

Conference Call Participants

Doug Anmuth - JPMorgan

Andrew Boone - JMP Securities

Ryan MacDonald - Needham

Eric Sheridan - Goldman Sachs

Maria Ripps - Canaccord

Brett Knoblauch - Cantor Fitzgerald

Mario Lu - Barclays

Greg Gibas - Northland Securities

Operator

Good afternoon. Thank you for attending the Nerdy Second Quarter 2022 Results Conference Call. My name is Matt, and I will be the moderator for today’s call. [Operator Instructions] I would now like to pass the conference over to our host, Molly Sorg, Head of Investor Relations. Molly, please go ahead.

Molly Sorg

Good afternoon and thank you for joining us for Nerdy’s second quarter 2022 earnings call. With me are Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy and Jason Pello, Chief Financial Officer.

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

With that, let me turn the call over to Chuck. Chuck?

Chuck Cohn

Thanks, Molly, and thank you to everyone who has joined us today. We are happy to be back in front of you discussing our second quarter results as we head into the back-to-school season for the 2022-2023 school year. We continue to experience strong demand for our product offerings. In the second quarter, Nerdy delivered revenue of $42.2 million, above our guidance range of $37 million to $40 million and up 29% as compared to the second quarter of 2021.