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NONCONTROLLING INTERESTS

6 Months Ended

Jun. 30, 2025

Noncontrolling Interest [Abstract]

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS

As of June 30, 2025, Legacy Nerdy Holders owned 64,395 OpCo Units, equal to 34.7% of the economic interest in Nerdy LLC, and 64,395 shares of Class B Common Stock. As of December 31, 2024, Legacy Nerdy Holders owned 64,395 OpCo Units equal to 35.4% of the economic interest in Nerdy LLC, and 64,395 shares of Class B Common Stock.

Nerdy Inc. owned 65.3% and 64.6% of the outstanding OpCo Units as of June 30, 2025 and December 31, 2024, respectively. The financial results of Nerdy LLC and its subsidiaries were consolidated with and into Nerdy Inc., and the portions of the consolidated net earnings (loss) of Nerdy LLC, which the Legacy Nerdy Holders were entitled to or required to absorb, was allocated to NCI. At the end of each reporting period, Nerdy LLC equity attributable to Nerdy Inc. and the Legacy Nerdy Holders was rebalanced to reflect Nerdy Inc.’s and the Legacy Nerdy Holders’ ownership in Nerdy LLC.

The following table summarizes the changes in ownership of OpCo Units in Nerdy LLC for the periods presented.

			As Of and For The Three Months Ended June 30,												As Of and For The Six Months Ended June 30,
			2025						2024						2025						2024
OpCo Units
Nerdy Inc.
Beginning of period			119,356						109,002						117,699						106,416
Vesting or exercise of equity awards			1,671						1,948						3,328						3,903
Conversion of Combined Interests into Class A Common Stock			—						1,295						—						1,926
End of period			121,027						112,245						121,027						112,245
Legacy Nerdy Holders
Beginning of period			64,395						66,674						64,395						67,256
Vesting or exercise of equity awards			—						48						—						97
Conversion of Combined Interests into Class A Common Stock			—						(1,295)						—						(1,926)
End of period			64,395						65,427						64,395						65,427
Total
Beginning of period			183,751						175,676						182,094						173,672
Vesting or exercise of equity awards			1,671						1,996						3,328						4,000
End of period			185,422						177,672						185,422						177,672
Ownership Percentage
Nerdy Inc.
Beginning of period			65.0		%				62.0		%				64.6		%				61.3		%
End of period			65.3		%				63.2		%				65.3		%				63.2		%
Legacy Nerdy Holders
Beginning of period			35.0		%				38.0		%				35.4		%				38.7		%
End of period			34.7		%				36.8		%				34.7		%				36.8		%

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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- References

No definition available.

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