Nerdy, a direct-to-consumer, curated gig economy platform for live online learning has announced a net loss of $5.7 million for the first quarter of 2021, compared to a net loss of $8 million reported for Q1 2020.
Revenue for the quarter was $34.6 million, up from $23 million reported for the first quarter last year.
Chuck Cohn, founder, chairman and chief executive of Nerdy, said: “We are excited to report record first-quarter results that reflect accelerating top-line growth as several key company initiatives came together to deliver strong learner and engagement growth. In the first half of 2020, the Covid-19 pandemic and resulting closures of schools and testing centres created short-term challenges for our business that we innovated our way through. As states reopen and schools return to in-person instruction, we are seeing demand for our learning solutions accelerate. We are encouraged by both the anticipated return to a new normal given the positive impact we expect such a return will have on our business as well as the strong results we are seeing from our investments in growth and innovation.”
Nerdy is headquartered in St Louis, Missouri.
Date published: 6 May 2021