On July 31, 2026, Nerdy Inc. committed to a plan to wind down its Varsity Tutors for Schools business line to focus on its core Consumer operations. The company estimates total exit-related costs between $2 million and $4 million, with substantially all expected to be recognized in the third quarter of 2026. This range includes $0.3 million to $0.5 million for employee severance, $0.5 million to $1.3 million for contract termination, $1.4 million to $1.6 million for asset impairments, and other costs of $0.1 million to $0.2 million. Future cash expenses are estimated at $0.7 million to $1.8 million, while non-cash charges range from $1.6 million to $1.8 million. These restructuring charges will be excluded from non-GAAP results but included in GAAP results. Nerdy Inc. operates in the education technology industry, providing online tutoring and learning services.
