Nerdy, Inc. (NYSE:NRDY) Q2 2024 Earnings Call August 8, 2024 5:00 PM ET

Company Participants

T.J. Lynn - Associate General Counsel
Chuck Cohn - Founder, Chairman and Chief Executive Officer
Jason Pello - Chief Financial Officer

Conference Call Participants

Ryan MacDonald - Needham
Andrew Boone - JMP Securities
Greg Gibas - Northland Securities

Operator

Good afternoon. Thank you for attending today’s Nerdy Inc. Q2 2024 Earnings Call. My name is Matt, and I’ll your moderator for today’s call. [Operator Instructions] I would now like to pass the conference over to your host, T.J. Lynn, Associate General Counsel at Nerdy. You may proceed.

T.J. Lynn

Good afternoon and thank you for joining us for Nerdy’s second quarter 2024 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’ll 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 change 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 Cohn

Thanks, T.J., and thank you to everyone for joining us today. In the second quarter, we continued to make progress against the three primary goals we laid out for the year, including our first goal, which was to scale the winning product for every learner. We recently completed the convergence of all of our schools institutional customers on to the unified consumer experience fee for learning membership. The unified platform provides a modern, intuitive and personalized learning experience to better serve the needs of learners while also allowing us to increase the pace of innovation and leverage product improvements across both our consumer and institutional businesses to drive value in both businesses.