Yahoo Finance Nerdy (NRDY) Partners With Rossville for Varsity Tutors Access
Nerdy, Inc.'s NRDY leading live online tutoring platform, Varsity Tutors for Schools, announces a partnership with Rossville Consolidated School District. The collaboration aims to provide all district students or families with access to the platform at no cost.
The comprehensive platform offers on-demand learning resources to assist students whenever needed, including interactive study tools, collaborative workspaces and dynamic learning resources.
NRDY provides students with the opportunity to consult with trained professionals through the Varsity Tutors platform. The platform allows budgeting for targeted intervention through high-quality tutoring, with flexible implementation models that cater to the district's needs.
Shares of NERDY moved up 0.7% during the trading session and 2.7% in the after-hour trading session on Apr 5, 2024.
Focus on Varsity Tutors for Schools
The company's Varsity Tutors for Schools product suite utilizes its platform capabilities to offer high-dosage tutoring and online learning solutions to institutions. In 2023, the company enhanced the platform significantly, shifting its institutional business to an access and subscription-based model, providing more value to its institutional customers.
The platform provides access to robust academic resources and tools, with three simple models for high-dosage tutoring administration. This expansion allows the company to serve a broader set of needs for its institutional partners and reach a greater number of students within school districts.
During the year, Varsity Tutors for Schools contracted with nearly 200 school districts. It delivered $37.6 billion in bookings, up 52% year over year. The company achieved significant revenue growth with its Varsity Tutors for Schools, benefiting from efficiencies gained through private investments in institutional sales and go-to-market organization.
The company anticipates further improvements in sales and marketing efficiency driven by a more efficient operating model in its consumer business and the continued scaling of its institutional business, resulting in accelerating revenue growth.
Price Performance
Image Source: Zacks Investment Research
Shares of NRDY have declined 11.2% in the past three months compared with the Zacks Schools industry’s 5.9% growth. Although it has underperformed the industry in the said period, the company is likely to benefit from strong demand in its consumer and institutional businesses. Also, operating leverage from its transition to access-based subscription revenue models bodes well. The transition to learning memberships yields more attractive unit-level economics, longer duration and higher lifetime value customer relationships, along with higher gross margins in a more scalable and efficient operating model.
Zacks Rank & Key Picks
Nerdy currently sports a Zacks Rank #3 (Hold).
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The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels.
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Hyatt Hotels Corporation H presently carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have rallied 44.1% in the past year.
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