Nerdy announced plans to wind down its Varsity Tutors for Schools business and exit First Tutors, refocusing on consumer learning. The exits are expected to cut annual fixed costs by about $11 million and reduced 2026 revenue guidance to $168 million to $175 million, from a prior outlook of $180 million to $190 million. Second-quarter revenue fell 4% year over year to $43.3 million, while gross margin expanded to 64.7% and net loss narrowed to $6.9 million. Management expects year-end cash of approximately $30 million to $32 million and believes existing liquidity can fund operations through free-cash-flow breakeven.
Nerdy IncNerdy narrows 2026 revenue guidance and reports Q2 revenue decline, though cost cuts and margin expansion provide some offset.
Duolingo Inc