NRDY Class A Nerdy Inc. Class A Common Stock
NYSE · Diversified Consumer Services · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$7.65
· of 52w range
· above low
· to high
$7.6552w low
$22.3552w high
P/E (TTM)
-31.9
EPS (TTM)
$-0.24
Revenue (TTM)
$178M
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52W Range
$8–$22
Analyst Rating
BUY
Price Target
$24
P/E
-31.9
ROE
-123.2%
Net Profit Margin
-17.0%
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NRDY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$7.65
P/E (TTM)
-31.9
EPS (TTM)
$-0.24
Revenue (TTM)
$178M
ROE (TTM)
-123.2%
Debt/Equity (MRQ)
1.1
52W Range
$8–$22
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Aug. 19, 2026 | 1-for-15 | Reverse |
About Nerdy Inc. Class A Common Stock Company overview from Wikipedia
sectorDiversified Consumer Services
industryDiversified Consumer Services
employees500
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$179M2019-12-31 → 2025-12-31
EPS$-0.332019-12-31 → 2025-12-31
Free Cash Flow$-24M2021-12-31 → 2025-12-31
Net margin-17.0%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NRDY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -31.95Y avg ≈-22.3 | ≈-22.3 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NRDY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 61.0%5Y avg ≈66.5% | ≈66.5% | · | · | |
| Operating Margin (TTM) | -25.4%5Y avg ≈-45.1% | ≈-45.1% | 0.34% | Weak | |
| EBITDA Margin | -34.6%5Y avg ≈-45.1% | ≈-45.1% | 0.34% | Weak | |
| Pretax Margin (TTM) | -25.6%5Y avg ≈-33.0% | ≈-33.0% | -1.5% | Weak | |
| Net Profit Margin (TTM) | -17.0%5Y avg ≈-18.0% | ≈-18.0% | -1.3% | Weak | |
| ROA (TTM) | -43.8%5Y avg ≈-28.8% | ≈-28.8% | -3.0% | Weak | |
| ROE (TTM) | -123.2%5Y avg ≈-114.5% | ≈-114.5% | -13.4% | Weak | |
| ROIC | -161.8%5Y avg ≈-166.8% | ≈-166.8% | -1.4% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NRDY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 1.1 | · | · | · | |
| Current Ratio (MRQ) | 2.75Y avg ≈2.8 | ≈2.8 | 1.2 | Strong liquidity | |
| Quick Ratio | 2.15Y avg ≈2.6 | ≈2.6 | 0.9 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 1.1 | · | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | NRDY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -5.9%5Y avg ≈12.5% | ≈12.5% | · | · | |
| Revenue CAGR 3Y | 3.2%5Y avg ≈12.3% | ≈12.3% | · | · | |
| Revenue CAGR 5Y | 11.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NRDY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 2.15Y avg ≈1.5 | ≈1.5 | 0.7 | Top tier | |
| Receivables Turnover | 27.65Y avg ≈25.3 | ≈25.3 | 19.2 | Top tier | |
| Revenue / Employee | ≈$358.0K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
42.2%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 6, 2026 | $-0.02 | $-0.77 | 97.4% |
| March 31, 2026 | May 12, 2026 | $-0.45 | $-3.17 | 85.8% |
| Dec. 31, 2025 | $-1.20 | $-0.97 | -23.9% | |
| Sept. 30, 2025 | $-1.50 | $-2.26 | 33.8% | |
| June 30, 2025 | $-0.07 | $-0.10 | 30.2% | |
| March 31, 2025 | $-0.09 | $-0.13 | 29.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $179M | $190M | $193M | $163M | $141M | $104M | $90M | |
| Cost of Revenue | $75M | $62M | $57M | $50M | $47M | $35M | $31M | |
| Gross Profit | $104M | $128M | $136M | $113M | $94M | $69M | $60M | |
| SG&A Expense | $106M | $127M | $126M | $130M | $122M | $43M | $42M | |
| Operating Income | $-62M | $-70M | $-58M | $-91M | $-96M | $-18M | $-21M | |
| Interest Expense | · | · | · | · | $4M | $5M | $2M | |
| Interest Income | · | · | · | · | · | $5.9K | · | |
| Other Non-op | $2.0K | $-23.0K | $19.0K | $-183.0K | $-9M | $-2M | $199.0K | |
| Pretax Income | $-61M | $-67M | $-68M | $-64M | $-31M | $-25M | $-22M | |
| Income Tax | $159.0K | $115.0K | $109.0K | $19.0K | $40.0K | $0 | $0 | |
| Net Income | $-40M | $-43M | $-40M | $-35M | $-4M | $0 | $0 | |
| EPS (Basic) | $-0.33 | $-0.38 | $-0.41 | $-0.41 | $-0.05 | $0.00 | $0.00 | |
| EPS (Diluted) | $-0.33 | $-0.38 | $-0.41 | $-0.41 | $-0.05 | $0.00 | $0.00 | |
| Shares (Basic) | 120,830,000 | 111,695,000 | 97,157,000 | 85,873,000 | 79,236,000 | 0 | 0 | |
| Shares (Diluted) | 120,830,000 | 111,695,000 | 97,157,000 | 85,873,000 | 79,236,000 | 0 | 0 | |
| EBITDA | $-62M | $-70M | $-58M | $-91M | $-96M | $-33M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $48M | $53M | $75M | $91M | $144M | $29M | $25M | |
| Receivables | $6M | $7M | $15M | $12M | $5M | $475.0K | · | |
| Prepaid Expense | $4M | $4M | $3M | $4M | $4M | $574.0K | · | |
| Other Current Assets | $5M | $5M | $5M | $5M | $6M | $2M | · | |
| Current Assets | $58M | $65M | $95M | $108M | $155M | $32M | $25.1K | |
| PP&E (Net) | $9M | $17M | $16M | $13M | $11M | $10M | · | |
| PP&E (Gross) | $30M | $51M | $43M | $36M | $28M | $23M | · | |
| Accum. Depreciation | $22M | $34M | $27M | $24M | $18M | $13M | · | |
| Goodwill | $6M | $6M | $6M | $6M | $6M | $6M | · | |
| Intangibles | $2M | $2M | $3M | $4M | $4M | $9M | · | |
| Other Non-current Assets | $2M | $2M | $5M | $3M | $832.0K | $1M | · | |
| Total Assets | $76M | $93M | $125M | $133M | $177M | $57M | $25.1K | |
| Accounts Payable | $3M | $3M | $3M | $3M | $4M | $4M | · | |
| Accrued Liabilities | · | · | · | · | · | $533.9K | $8.6K | |
| Current Liabilities | $26M | $28M | $36M | $37M | $42M | $34M | $8.6K | |
| Capital Leases | $2M | $2M | $3M | $2M | · | · | · | |
| Other Non-current Liabilities | $2M | $3M | $4M | $14M | $39M | $2M | · | |
| Total Liabilities | $47M | $31M | $39M | $52M | $81M | $77M | $8.6K | |
| Long-term Debt | · | · | · | · | $0 | $48M | · | |
| Total Debt | $19M | · | · | · | $0 | · | · | |
| Paid-in Capital | $617M | $597M | $568M | $522M | $490M | $7M | · | |
| Retained Earnings | $-598M | $-558M | $-515M | $-475M | $-440M | $-412M | $-8.5K | |
| AOCI | $36.0K | $19.0K | $31.0K | $-12.0K | $136.0K | $296.0K | · | |
| Stockholders' Equity | $19M | $39M | $52M | $47M | $51M | $-398M | $16.5K | |
| Liabilities + Equity | $76M | $93M | $125M | $133M | $177M | $57M | $25.1K |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $28M | $41M | $44M | $47M | $54M | $2M | $2M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | · | · | |
| Amort. of Intangibles | $625.0K | $614.0K | $606.0K | $602.0K | $1M | $1M | $1M | |
| Operating Cash Flow | $-19M | $-16M | $-8M | $-48M | $-39M | $-7M | $-16M | |
| CapEx | $5M | $7M | $7M | $5M | $5M | $3M | $6M | |
| Investing Cash Flow | $-5M | $-7M | $-7M | $-5M | $-5M | $-3M | $-6M | |
| Financing Cash Flow | $19M | $0 | $-2M | $-1M | $159M | $12M | $24M | |
| Net Change in Cash | $-5M | $-22M | $-16M | $-54M | $115M | $3M | $2M | |
| Free Cash Flow | $-24M | $-22M | $-14M | $-53M | $-44M | · | · | |
| Levered FCF | · | · | · | · | $-48M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.0% | 67.5% | 70.5% | 69.4% | 66.8% | · | · | |
| Operating Margin | -34.6% | -36.9% | -29.8% | -55.8% | -68.6% | · | · | |
| Net Margin | -22.3% | -22.4% | -20.8% | -21.8% | -2.7% | · | · | |
| Pretax Margin | -34.0% | -35.2% | -34.9% | -39.3% | -21.8% | · | · | |
| EBITDA Margin | -34.6% | -36.9% | -29.8% | -55.8% | -68.6% | · | · | |
| ROA | -47.3% | -39.2% | -31.2% | -22.9% | -3.2% | · | · | |
| ROE | -136.5% | -92.6% | -80.8% | -72.5% | -190.0% | · | · | |
| ROIC | -161.8% | -177.9% | -109.9% | -193.6% | -190.6% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.3 | 2.3 | 2.7 | 2.9 | 3.7 | · | · | |
| Quick Ratio | 2.1 | 2.1 | 2.5 | 2.7 | 3.6 | · | · | |
| Debt / Equity | 1.0 | · | · | · | 0.0 | · | · | |
| LT Debt / Equity | 1.0 | · | · | · | 0.0 | · | · | |
| Interest Coverage | · | · | · | · | -25.4 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.1 | 1.8 | 1.5 | 1.1 | 1.2 | · | · | |
| Receivables Turnover | 27.6 | 16.7 | 14.3 | 19.2 | 48.5 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $1.48 | $1.70 | $1.99 | $1.89 | $1.78 | · | · | |
| Cash Flow / Share | $-0.16 | $-0.14 | $-0.08 | $-0.56 | $-0.49 | · | · | |
| EPS (TTM) | $-0.33 | $-0.38 | $-0.41 | $-0.41 | $-0.05 | $0.00 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -5.9% | -1.6% | 18.9% | 15.6% | 35.3% | · | · | |
| Revenue CAGR 3Y | 3.2% | 10.6% | 23.0% | · | · | · | · | |
| Revenue CAGR 5Y | 11.5% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $179M | $190M | $193M | $163M | $141M | $104M | · | |
| Net Income TTM | $-40M | $-43M | $-40M | $-35M | $-4M | $0 | · | |
| P/E | -3.2 | -4.3 | -8.4 | -5.5 | -90.0 | · | · | |
| Earnings Yield | -31.7% | -23.5% | -11.9% | -18.2% | -1.1% | 0.00% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43M | $49M | $49M | $37M | $45M | $48M | $48M | $38M | $51M | $54M | $55M | $40M | $49M | $49M | $42M | $32M | |
| Cost of Revenue | $15M | $16M | $24M | $14M | $17M | $20M | $16M | $11M | $17M | $17M | $16M | $11M | $15M | $15M | $12M | $10M | |
| Gross Profit | $28M | $32M | $25M | $23M | $28M | $28M | $32M | $26M | $33M | $37M | $39M | $29M | $34M | $34M | $29M | $22M | |
| SG&A Expense | $23M | $24M | $25M | $26M | $27M | $28M | $30M | $32M | $33M | $32M | $31M | $36M | $30M | $30M | $33M | $33M | |
| Operating Income | $-6M | $-6M | $-14M | $-19M | $-12M | $-17M | $-16M | $-26M | $-15M | $-13M | $-10M | $-26M | $-10M | $-11M | $-20M | $-28M | |
| Interest Income | $325.0K | $368.0K | · | · | $365.0K | $462.0K | · | · | · | · | · | · | · | · | · | · | |
| Other Non-op | $1.0K | $-16.0K | $2.0K | $4.0K | $-4.0K | $0 | $-15.0K | $27.0K | $-10.0K | $-25.0K | $30.0K | $5.0K | $-5.0K | $-11.0K | $-34.0K | $-75.0K | |
| Pretax Income | $-7M | $-6M | $-14M | $-19M | $-12M | $-16M | $-16M | $-25M | $-14M | $-12M | $-9M | $-21M | $-5M | $-32M | $-15M | $-32M | |
| Income Tax | $34.0K | $22.0K | $22.0K | $35.0K | $74.0K | $28.0K | $25.0K | $29.0K | $38.0K | $23.0K | $12.0K | $21.0K | $53.0K | $23.0K | $-16.0K | $22.0K | |
| Net Income | $-5M | $-4M | $-9M | $-12M | $-8M | $-10M | $-10M | $-16M | $-9M | $-7M | $-6M | $-12M | $-3M | $-19M | $-9M | $-19M | |
| EPS (Basic) | $-0.04 | $-0.03 | $-0.07 | $-0.10 | $-0.07 | $-0.09 | $-0.09 | $-0.14 | $-0.08 | $-0.07 | $-0.04 | $-0.13 | $-0.03 | $-0.21 | $-0.09 | $-0.21 | |
| EPS (Diluted) | $-0.04 | $-0.03 | $-0.07 | $-0.10 | $-0.07 | $-0.09 | $-0.09 | $-0.14 | $-0.08 | $-0.07 | $-0.04 | $-0.13 | $-0.03 | $-0.21 | $-0.08 | $-0.21 | |
| Shares (Basic) | 126,382,000 | 124,295,000 | · | 121,666,000 | 120,151,000 | 118,456,000 | · | 113,287,000 | 109,924,000 | 107,951,000 | · | 97,077,000 | 94,448,000 | 91,776,000 | · | 87,714,000 | |
| Shares (Diluted) | 126,382,000 | 124,295,000 | · | 121,666,000 | 120,151,000 | 118,456,000 | · | 113,287,000 | 109,924,000 | 107,951,000 | · | 97,077,000 | 94,448,000 | 91,776,000 | · | 87,714,000 | |
| EBITDA | $-6M | $-6M | · | $-19M | $-12M | $-17M | · | $-26M | $-15M | $-13M | · | $-26M | $-10M | $-11M | · | $-28M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $38M | $45M | $48M | $33M | $37M | $45M | $53M | $65M | $70M | $77M | · | $84M | $91M | $97M | $91M | $106M | |
| Receivables | $4M | $5M | $6M | $6M | $6M | $6M | $7M | $7M | $7M | $10M | · | $8M | $5M | $6M | · | $4M | |
| Prepaid Expense | · | · | $4M | · | · | · | $4M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | $4M | $5M | $5M | $5M | $5M | $5M | $5M | $6M | $5M | $5M | · | $6M | $4M | $4M | · | $4M | |
| Current Assets | $46M | $54M | $58M | $44M | $48M | $56M | $65M | $78M | $82M | $92M | · | $98M | $100M | $107M | · | $114M | |
| PP&E (Net) | $10M | $9M | $9M | $16M | $16M | $17M | $17M | $17M | $17M | $17M | · | $14M | $12M | $12M | · | $13M | |
| PP&E (Gross) | $33M | $32M | $30M | $56M | $54M | $52M | $51M | $50M | $47M | $46M | · | $42M | $39M | $37M | · | $35M | |
| Accum. Depreciation | $23M | $22M | $22M | $39M | $38M | $36M | $34M | $32M | $30M | $29M | · | $28M | $27M | $25M | · | $22M | |
| Goodwill | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | · | $6M | $6M | $6M | · | $6M | |
| Intangibles | $688.0K | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | · | $3M | $3M | $3M | · | $4M | |
| Other Non-current Assets | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $4M | · | $3M | $3M | $3M | · | $4M | |
| Total Assets | $65M | $73M | $76M | $70M | $74M | $83M | $93M | $107M | $111M | $121M | · | $124M | $124M | $132M | · | $140M | |
| Accounts Payable | $4M | $5M | $3M | $6M | $4M | $4M | $3M | $6M | $3M | $5M | · | $7M | $3M | $4M | · | $6M | |
| Current Liabilities | $17M | $23M | $26M | $31M | $22M | $27M | $28M | $36M | $26M | $33M | · | $40M | $28M | $36M | · | $36M | |
| Capital Leases | · | · | $2M | · | · | · | $2M | · | · | · | · | · | · | · | · | $2M | |
| Other Non-current Liabilities | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $3M | $3M | · | $1M | $31M | $36M | · | $19M | |
| Total Liabilities | $39M | $44M | $47M | $33M | $25M | $30M | $31M | $39M | $29M | $36M | · | $41M | $59M | $71M | · | $56M | |
| Total Debt | $20M | $19M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Paid-in Capital | $624M | $621M | $617M | $613M | $608M | $603M | $597M | $591M | $584M | $575M | · | $560M | $536M | $529M | · | $515M | |
| Retained Earnings | $-607M | $-602M | $-598M | $-589M | $-576M | $-568M | $-558M | $-548M | $-532M | $-523M | · | $-510M | $-497M | $-494M | · | $-466M | |
| AOCI | $0 | $36.0K | $36.0K | $77.0K | $94.0K | $44.0K | $19.0K | $68.0K | $26.0K | $25.0K | · | $2.0K | $26.0K | $8.0K | · | $-91.0K | |
| Stockholders' Equity | $17M | $19M | $19M | $24M | $32M | $34M | $39M | $43M | $52M | $53M | · | $50M | $39M | $35M | · | $48M | |
| Liabilities + Equity | $65M | $73M | $76M | $70M | $74M | $83M | $93M | $107M | $111M | $121M | · | $124M | $124M | $132M | · | $140M |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $4M | $6M | $6M | $7M | $8M | $8M | $9M | $10M | $11M | $11M | $11M | $12M | $10M | $11M | $12M | $12M | |
| Amort. of Intangibles | $99.0K | $158.0K | $157.0K | $158.0K | $158.0K | $152.0K | $154.0K | $155.0K | $153.0K | $152.0K | $152.0K | $152.0K | $152.0K | $150.0K | $148.0K | $146.0K | |
| Operating Cash Flow | $-5M | $-2M | $-3M | $-2M | $-7M | $-6M | $-11M | $-3M | $-6M | $4M | $-5M | $-5M | $-5M | $7M | $-15M | $-13M | |
| CapEx | $2M | $1M | $1M | $2M | $1M | $1M | $1M | $2M | $2M | $2M | $3M | $2M | $1M | $982.0K | $978.0K | $2M | |
| Investing Cash Flow | $-2M | $-1M | $-1M | $-2M | $-1M | $-1M | $-1M | $-2M | $-2M | $-2M | $-3M | $-2M | $-1M | $-982.0K | $-978.0K | $-2M | |
| Financing Cash Flow | $0 | $-250.0K | $19M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $-1M | $-567.0K | $0 | $0 | $-137.0K | $-26.0K | |
| Net Change in Cash | $-6M | $-3M | $15M | $-4M | $-8M | $-8M | $-12M | $-5M | $-7M | $2M | $-9M | $-7M | $-6M | $6M | $-16M | $-15M | |
| Free Cash Flow | · | $-3M | · | · | · | $-8M | · | · | · | $2M | · | · | · | $6M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.7% | 66.2% | · | 62.9% | 61.5% | 58.0% | · | 70.5% | 65.7% | 68.0% | · | 72.4% | 69.8% | 68.9% | · | 69.0% | |
| Operating Margin | -15.0% | -11.9% | · | -51.5% | -27.2% | -34.8% | · | -68.5% | -29.9% | -23.9% | · | -63.4% | -21.4% | -23.1% | · | -87.2% | |
| Net Margin | -10.8% | -8.4% | · | -33.2% | -17.4% | -22.1% | · | -42.4% | -17.8% | -13.9% | · | -30.5% | -6.8% | -38.5% | · | -58.3% | |
| Pretax Margin | -15.8% | -12.5% | · | -50.6% | -26.4% | -33.9% | · | -66.4% | -28.2% | -22.3% | · | -51.1% | -11.3% | -65.5% | · | -101.6% | |
| EBITDA Margin | -15.0% | -11.9% | · | -51.5% | -27.2% | -34.8% | · | -68.5% | -29.9% | -23.9% | · | -63.4% | -21.4% | -23.1% | · | -87.2% | |
| ROA | -6.7% | -5.2% | · | -13.9% | -8.5% | -10.3% | · | -13.8% | -7.7% | -5.9% | · | -9.3% | -2.4% | -12.3% | · | -9.8% | |
| ROE | -18.9% | -15.2% | · | -36.4% | -18.8% | -24.1% | · | -34.0% | -20.0% | -16.9% | · | -25.0% | -6.7% | -49.7% | · | -43.9% | |
| ROIC | -17.7% | -15.0% | · | -78.8% | -38.9% | -48.3% | · | -59.4% | -29.3% | -24.4% | · | -50.9% | -27.3% | -32.1% | · | -57.5% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 2.4 | · | 1.4 | 2.1 | 2.0 | · | 2.2 | 3.2 | 2.8 | · | 2.5 | 3.6 | 3.0 | · | 3.1 | |
| Quick Ratio | 2.5 | 2.2 | · | 1.3 | 1.9 | 1.9 | · | 2.0 | 3.0 | 2.6 | · | 2.3 | 3.5 | 2.9 | · | 3.0 | |
| Debt / Equity | 1.1 | 1.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | 1.1 | 1.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | · | 0.4 | 0.5 | 0.5 | · | 0.3 | 0.4 | 0.4 | · | 0.3 | 0.4 | 0.3 | · | 0.2 | |
| Receivables Turnover | 8.1 | 8.8 | · | 5.3 | 6.7 | 6.0 | · | 4.8 | 8.2 | 6.7 | · | 6.8 | 12.2 | 9.1 | · | 11.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $0.34 | $0.39 | · | $0.30 | $0.38 | $0.40 | · | $0.33 | $0.46 | $0.50 | · | $0.42 | $0.52 | $0.54 | · | $0.36 | |
| Cash Flow / Share | · | $-0.01 | · | · | · | $-0.05 | · | · | · | $0.04 | · | · | · | $0.07 | · | · | |
| EPS (TTM) | $-0.24 | $-0.27 | · | $-0.35 | $-0.39 | $-0.40 | · | $-0.33 | $-0.32 | $-0.27 | · | $-0.45 | $-0.53 | $-0.41 | · | $-0.11 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $178M | $180M | · | $178M | $178M | $184M | · | $197M | $200M | $198M | · | $180M | $172M | $165M | · | $163M | |
| Net Income TTM | $-30M | $-33M | · | $-41M | $-44M | $-46M | · | $-38M | $-34M | $-29M | · | $-43M | $-49M | $-37M | · | $-9M | |
| P/E | -3.8 | -3.0 | · | -3.6 | -4.2 | -3.5 | · | -3.0 | -5.2 | -10.8 | · | -8.2 | -7.9 | -10.2 | · | -19.2 | |
| Earnings Yield | -26.2% | -33.1% | · | -27.8% | -23.9% | -28.2% | · | -33.6% | -19.2% | -9.3% | · | -12.2% | -12.7% | -9.8% | · | -5.2% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $179M | $190M | $193M | $163M | $141M |
| Gross Margin % | 58.0% | 67.5% | 70.5% | 69.4% | 66.8% |
| Operating Margin % | -34.6% | -36.9% | -29.8% | -55.8% | -68.6% |
| Net Income | $-40M | $-43M | $-40M | $-35M | $-4M |
| Diluted EPS | $-0.33 | $-0.38 | $-0.41 | $-0.41 | $-0.05 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 1.0 | · | · | · | 0.0 |
| Current Ratio | 2.3 | 2.3 | 2.7 | 2.9 | 3.7 |
| Quick Ratio | 2.1 | 2.1 | 2.5 | 2.7 | 3.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-24M | $-22M | $-14M | $-53M | $-44M |
Institutional owners (13F) 89 filers · $17.4M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
89
Value held
$17.4M
New positions
23
Exited positions
30
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 23 (+2 vs prior Q) | 30 (+10 vs prior Q) | 23 (-9 vs prior Q) | 26 (+1 vs prior Q) | -6.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Technology Crossover Management VIII, Ltd. | $3,618,404 | 3,949,791 | 20.81% | Shares |
| VANGUARD GROUP INC | $3,461,393 | 3,328,262 | 19.91% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,290,920 | 2,501,004 | 13.18% | Shares |
| MONETA GROUP INVESTMENT ADVISORS LLC | $943,309 | 1,029,701 | 5.42% | Shares |
| BlackRock, Inc. | $931,938 | 1,017,288 | 5.36% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $804,900 | 878,617 | 4.63% | Shares |
| RBF Capital, LLC | $704,470 | 768,988 | 4.05% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $702,472 | 766,178 | 4.04% | Shares |
| JANE STREET GROUP, LLC | $461,651 | 503,931 | 2.65% | Shares |
| MILLENNIUM MANAGEMENT LLC | $457,279 | 499,158 | 2.63% | Shares |
| GOLDMAN SACHS GROUP INC | $456,115 | 497,888 | 2.62% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $360,877 | 393,970 | 2.08% | Shares |
| STATE STREET CORP | $333,553 | 364,101 | 1.92% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $171,952 | 187,700 | 0.99% | Shares |
| NORTHERN TRUST CORP | $139,646 | 152,435 | 0.80% | Shares |
| MARSHALL WACE, LLP | $137,859 | 149,847 | 0.79% | Shares |
| Point72 Asset Management, L.P. | $136,205 | 148,679 | 0.78% | Shares |
| IEQ CAPITAL, LLC | $126,752 | 138,361 | 0.73% | Shares |
| XTX Topco Ltd | $113,682 | 124,093 | 0.65% | Shares |
| Crewe Advisors LLC | $93,542 | 102,108 | 0.54% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $85,197 | 93,000 | 0.49% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $60,536 | 65,800 | 0.35% | Call option |
| Qube Research & Technologies Ltd | $49,791 | 54,351 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $49,194 | 53,699 | 0.28% | Shares |
| Mariner, LLC | $41,857 | 45,691 | 0.24% | Shares |
| Cerity Partners LLC | $41,085 | 44,847 | 0.24% | Shares |
| THOMPSON DAVIS & CO., INC. | $36,644 | 40,000 | 0.21% | Shares |
| DEUTSCHE BANK AG\ | $35,431 | 38,512 | 0.20% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $32,923 | 35,569 | 0.19% | Shares |
| Ground Swell Capital, LLC | $28,965 | 31,618 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $26,567 | 29,000 | 0.15% | Call option |
| MERCER GLOBAL ADVISORS INC /ADV | $26,463 | 28,887 | 0.15% | Shares |
| CWM, LLC | $25,440 | 31,169 | 0.15% | Shares |
| UBS Group AG | $24,274 | 26,501 | 0.14% | Shares |
| Arax Advisory Partners | $24,254 | 26,476 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $22,580 | 24,648 | 0.13% | Shares |
| KESTRA PRIVATE WEALTH SERVICES, LLC | $21,620 | 23,600 | 0.12% | Shares |
| Tower Research Capital LLC (TRC) | $21,274 | 23,222 | 0.12% | Shares |
| Engineers Gate Manager LP | $20,941 | 22,859 | 0.12% | Shares |
| Vanguard Global Advisers, LLC | $20,608 | 22,498 | 0.12% | Shares |
| JPMORGAN CHASE & CO | $17,459 | 19,197 | 0.10% | Shares |
| CITADEL ADVISORS LLC | $16,673 | 18,200 | 0.10% | Call option |
| Silver Rock Financial LP | $16,186 | 17,668 | 0.09% | Shares |
| Cutter & CO Brokerage, Inc. | $15,620 | 11,000 | 0.09% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $15,567 | 16,993 | 0.09% | Shares |
| Creative Planning | $15,268 | 16,666 | 0.09% | Shares |
| BANK OF AMERICA CORP /DE/ | $13,493 | 14,730 | 0.08% | Shares |
| IMC-Chicago, LLC | $13,364 | 14,588 | 0.08% | Shares |
| Schonfeld Strategic Advisors LLC | $12,427 | 13,566 | 0.07% | Shares |
| ROYAL BANK OF CANADA | $12,000 | 14,046 | 0.07% | Shares |
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| TCV VIII (A), L.P., TCV VIII VT Master GP, LLC, TCV VIII VT Master, L.P., TCV VIII, L.P., Technology Crossover Management VIII, L.P., Technology Crossover Management VIII, Ltd. | Aug. 21, 2026 | 14.20% | Amendment | · | SEC |
| Charles Cohn, Allison Cohn ×4 filings | June 17, 2026 | 48.70% | Amendment | Passive investment | SEC |
| Charles Cohn (2), Allison Cohn (2) ×6 filings | Dec. 4, 2024 | · | Initial filing | Passive investment | SEC |
| TCV VIII VT Master, L.P., TCV VIII (A), L.P., TCV VIII VT Master GP, LLC, TCV VIII, L.P., Technology Crossover Management VIII, L.P., Technology Crossover Management VIII, Ltd. ×3 filings | Oct. 2, 2023 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 17 insiders · 8 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Charles K. Cohn | Chief Executive Officer | June 15, 2026 P | 978,311 | 25 | 0 | $5,308,281 |
| Atul Madan Mohan Bagga | Chief Financial Officer | July 16, 2026 S | 1,463,574 | 0 | 1 | $-30,234 |
| Jason H. Pello | Chief Financial Officer | March 16, 2026 S | 2,540,626 | 0 | 6 | $-324,459 |
| Ian Clarkson | President & COO | Dec. 1, 2021 A | 841,680 | 0 | 0 | $0 |
| John Andrew Paszterko | Chief Operating Officer | July 16, 2026 S | 1,718,721 | 0 | 3 | $-73,963 |
| Christopher C. Swenson | Chief Legal Officer | Sept. 11, 2026 S | 162,850 | 0 | 10 | $-277,471 |
| Kyle Callaway | Chief Accounting Officer | July 16, 2026 S | 487,120 | 0 | 1 | $-11,103 |
| Heidi Robinson | Chief Product Officer | March 2, 2023 S | 1,105,754 | 0 | 0 | $0 |
| Abigail Blunt | Director | April 30, 2026 A | 226,000 | 0 | 0 | $0 |
| Robert J. Hutter | Director | April 30, 2026 A | 1,218,548 | 0 | 0 | $0 |
| Gregory Mrva | Director | April 30, 2026 A | 685,991 | 0 | 2 | $-43,500 |
| Stuart Udell | Director | April 30, 2026 A | · | 0 | 0 | $0 |
| Christopher P Marshall | Director | April 30, 2026 A | · | 0 | 0 | $0 |
| Kathleen Philips | Director | Sept. 28, 2023 D | 66,250 | 0 | 0 | $0 |
| Catherine Beaudoin | Director | May 3, 2023 A | · | 0 | 0 | $0 |
| Erik C Blachford | Director | May 4, 2022 A | · | 0 | 0 | $0 |
| Light Street Mercury Master Fund, L.P. | 10% owner | Sept. 9, 2021 P | 88,944 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 2 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
NRDY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 8 analysts
BUY
Median target
$24.38
+218.6%
2 25.0%
Strong Buy
4 50.0%
Buy
2 25.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
2 analysts · 2026-09-28Mean target $24.38 +218.6%
← Below all targets
Current price $7.65
Low$18.75
Mean$24.38
High$30.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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Source: SEC 10-Q filed Aug 6, 2026