Nerdy Investor Presentation Deck
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TPG Pace 2021 Forecast by Quarter¹
$ in Millions
Total Revenue (100% Online)
% YoY Growth
Gross Profit
% Margin
(-) Sales & Marketing Expense
(-) Operations & Fulfillment
(-) Tech & Product
(-) G&A
Total Opex
Other Income (Expense)
Net Income
% Margin
Adjusted EBITDA
% Margin
Q1 2021F Q1 2021A
Is
I
$
IS
I
32 S
41%
22 S
67%
(14)
(3)
(3)
(4)
(11)
(1)
(4) S
(14%)
(1) S
(4%)
351 Is
50% I
23
68%
||
||
11
(15) I
(3)!
(3)
(7)
(13) I
||
(1) I
Q2 2021F Q2 2021A Q3 2021F Q4 2021F
28 S
30%
33 $
52% 1
1
35 $
31%
(17%)
(6)! Is
IT
(0)| | S
(1%) | I
19 S
68%
(12)
(4)
4
(6)
(14)
7
0 $
1%
(5) S
(16%)
21
65%
1
(14)|
1
(4)
(4)!
(6)
(15)
71
(1%)
$
$
(5) S
(15%) I
24 S
70%
(16)
(4)
(4)
(7)
(15)
0
(7) S
(19%)
(4) S
(12%)
43
30%
31
71%
(4)
(5)
(7)
(16)
(15) I
0
0
0%
H1 2021F H1 2021A
60 S
Is
m de
I
I
1
S
S
1
3 I
6% I
41 S
68%
(26)
(7)
(7)
(11)
(25)
6
(4) S
(7%)
(6)
(9%)
67 S
I
I
45
66%
1
(29)
I
(8)
(8)
(13)
(28)
I
61
1
10
(6)! S
(9%)
(5) S
(8%) 1
2021F
138
33%
96
70%
(57)
(11)
(8%)
Revenue growth driven by
multi-format strategy
(14) Targeted marketing
(17)
(25)
(56)
(8)
(5%)
One-on-one strength provides
durable base growth. Classes
and Professional offerings
continue to grow rapidly as we
scale
investments extend reach to
drive Active Learner growth
Significant investments in
additional talent ensure Nerdy
remains at the forefront of
innovation; contributing to
growth in 2022 and beyond
G&A increases driven mainly by
public company costs
Forecast ("F") excludes or otherwise does not account for the following: (i) non-recurring expenses, including de-SPAC transaction expenses; (ii) the application of new accounting treatments associated with the de-SPAC transaction; (iii) the expense related to Unit Appreciation Rights
("UARS") held by Nerdy employees which will be converted into Stock Appreciation Rights ("SARS") in connection with the de-SPAC transaction; and (iv) the impact of any future non-cash compensation changes. Actual ("A") quarterly and semi-annual financial information is unaudited.
Other Income (Expense) in Q2 2021 reflects a one-time non-recurring gain of $8.4 million related to the forgiveness of a Promissory loan.
Adjusted EBITDA (loss) is defined as net income or net loss, as applicable, before net interest income (expense), taxes, depreciation and amortization expense, non-cash compensation expense and other non-recurring items. Adjusted EBITDA is a non-GAAP financial measure.
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STPG nerdy
PACE
TECH OPPORTUNITIES
Ⓒ Nerdy / TPG Pace Tech Opportunities Corp. 2021View entire presentation