Nerdy NRDY Varsity Tutors For Schools — Revenue

On July 31, 2026, subsequent to the end of the period, the Company committed to a plan to wind down its Varsity Tutors for Schools offering and business line, which leveraged its next-generation live tutoring and intervention platform capabilities to offer high-dosage tutoring and its online learning solutions to education systems (“Institutions”). In connection with the wind-down, the Company estimates it will incur exit-related costs of approximately $2,000 to $4,000, consisting of employee severance and other employee termination benefits, contract termination costs, asset impairment charges, and other exit-related costs. The Company expects to recognize substantially all of these costs during the third quarter of 2026. No adjustment has been made to the condensed consolidated financial statements as of and for the three and six months ended June 30, 2026. Varsity Tutors for Schools revenue, included within Institutional revenue in Note 4, was $4,311 and $10,339 for the three and six months ended June 30, 2026, respectively.