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Revenue Outperforms Guidance – In the first quarter, Nerdy delivered revenue of $49.2 million, above the top end of our guidance range of $45-47 million, and represented an increase of 5% from $46.9 million during the same period in 2022.

Please visit the Nerdy investor relations website to view the Nerdy Q1 Shareholder Letter on the Quarterly Results Page. AI for HI ® also allowed us to achieve a major milestone by surpassing 10 million hours of live face-to-face tutoring delivered on our Live Learning Platform since launch.” EBITDA more than nine months ahead of our target.

”Our evolution to Learning Memberships and the application of AI for HI ®, or Artificial Intelligence for Human Interaction, drove continued growth and improvement in customer lifetime values and was a key contributor to our strong operating results including the delivery of positive Adj. I am pleased to share that in the first quarter, we executed at a high level and returned to growth, having substantially evolved our business model,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of Nerdy Inc. “One year ago, we unveiled an ambitious plan to evolve our products and revenue model toward long-term recurring ‘always-on’ relationships with our customers.

(NYSE: NRDY) today announced financial results for the first quarter ended March 31, 2023.