Nerdy Inc. · NYSE:NRDY
Nerdy — TPG Pace Tech Opportunities — SPAC Merger (May 2021)
6 slides from Nerdy's SPAC merger presentation, May 18, 2021
Slide 1: Nerdy Q1 2021 Update
nerdy Q1 2021 Update Mav 2074
Slide 2: Disclaimer
2DisclaimerThis Presentation has been prepared by Nerdy (the “Company”) and TPG Pace based in part upon market information and statistics provided by This non-GAAP measure is in addition, and not a substitute for or superior, to measures of financial performance prepared in accordance with various t
Slide 3: Nerdy learning platform overview
• The Company’s purpose-built proprietary platform leverages AI to connect learners of all ages to experts and deliver superior value on is a leading curated both sides of the network direct-to-consumer • Nerdy’s comprehensive learning destination provides learning experiences across 3,000+ platform
Slide 4: Q1 2020 vs. Q1 2021 Performance
4Q1 2020 vs. Q1 2021 PerformanceNerdy Update Total Revenue 1 Online Revenue 2 Gross Margin440+ bps 68% +50% $35 +100% $35 Investment Thesis$23 • Large TAM Ripe for Disruption $17 63% • Leading Direct-to-Consumer Platform for LearningUnit 1Q 2020 1Q 2021 1Q 2020 1Q 2021 1Q 2020 1Q 2021• Attractive Ec
Slide 5: Nerdy Update (cont'd): COVID Impact and Recovery, LTV Expansion
5Nerdy Update (cont’d)COVID Impact and Recovery LTV Expansion102020 2021 and Beyond LTV expansion driven by multi-format 1Q 2Q engagement and higher consumption+13%11 +24%11Created Short Term Challenges Headwinds Turn to Tailwinds Recent cohorts’ initial LTV significantlySome schools went to optiona
Slide 6: Non-GAAP Reconciliations (unaudited)
6Non-GAAP Reconciliations (unaudited)14$ in Millions Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Net Income $(5) $(4) $(8) $(6) $(8) $(4) $(8) $(5) $(6) Interest Income / Expense, Net001111111 Taxes00(0)000(0)00 Depreciation & Amortization111112222 Non-Cash Compensation E