Estados financieros detallados de Nerdy, Inc. (NRDY): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Nerdy, Inc. registró ingresos de $179.0M en el último ejercicio fiscal, con un CAGR de 5 años del 11.5%.
Márgenes de los últimos 12 meses: margen bruto 60.8%, margen operativo -21.2%, margen neto -17.0%.
Al precio actual de $8.60, NRDY presenta beneficios negativos (P/E no significativo) y un ROE del -151.55%. La capitalización bursátil es de $70M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $72.0M | $90.5M | $104.0M | $140.7M | $162.7M | $193.4M | $190.2M | $179.0M |
| Coste de Ventas | $26.5M | $30.8M | $34.8M | $46.7M | $49.7M | $57.0M | $61.8M | $76.4M |
| Beneficio Bruto | $45.5M | $59.6M | $69.1M | $94.0M | $112.9M | $136.4M | $128.4M | $102.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $41.3M |
| Generales y Administrativos | $71.1M | $80.2M | $87.1M | $187.4M | $203.7M | $194.0M | $198.5M | $165.6M |
| Gastos Operativos | $71.1M | $80.2M | $87.1M | $190.4M | $203.7M | $194.0M | $198.5M | $137.2M |
| Beneficio Operativo | -$25.5M | -$20.5M | -$17.9M | -$96.5M | -$90.8M | -$57.6M | -$70.1M | -$34.6M |
| EBITDA | -$22.7M | -$15.3M | -$11.9M | -$87.1M | -$57.4M | -$60.8M | -$59.5M | -$53.2M |
| Gastos por Intereses | $157000 | $2.1M | $4.9M | $3.8M | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$25.4M | -$22.4M | -$24.7M | -$30.6M | -$63.9M | -$67.6M | -$67.0M | -$60.8M |
| Impuestos | 0 | 0 | 0 | $40000 | $19000 | $109000 | $115000 | $159000 |
| Beneficio Neto | -$25.4M | -$22.4M | -$24.7M | -$27.3M | -$35.4M | -$40.2M | -$42.6M | -$39.9M |
| BPA | $-4.50 | $-4.35 | $-4.35 | $-0.72 | $-6.15 | $-6.15 | $-5.70 | $-4.95 |
| BPA Diluido | $-4.50 | $-4.35 | $-4.35 | $-0.72 | $-6.15 | $-6.15 | $-5.70 | $-4.95 |
| Acciones en Circulación (Diluidas) | $5.6M | $5.6M | $5.6M | $5.3M | $5.7M | $6.5M | $7.4M | $8.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $37.0M | $49.1M | $48.7M | $43.2M |
| Beneficio Bruto | $23.3M | $25.0M | $32.0M | $28.0M |
| Beneficio Operativo | -$19.1M | -$13.9M | $1.8M | -$6.5M |
| EBITDA | -$18.4M | -$12.4M | -$4.6M | -$4.5M |
| Beneficio Neto | -$12.3M | -$9.2M | -$4.1M | -$4.7M |
| BPA | $-1.50 | $-1.13 | $-0.49 | $-0.60 |
| BPA Diluido | $-1.50 | $-1.13 | $-0.49 | $-0.60 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $25.0M | $29.3M | $144.0M | $90.7M | $74.8M | $52.5M | $47.9M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $758000 | $475000 | $5.3M | $11.6M | $15.4M | $7.3M | $5.6M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $28.1M | $31.6M | $155.4M | $107.7M | $95.0M | $64.7M | $58.2M |
| Inmovilizado Material | $12.9M | $10.3M | $10.7M | $12.5M | $16.4M | $17.1M | $8.7M |
| Fondo de Comercio | $5.7M | $5.7M | $5.7M | $5.7M | $5.7M | $5.7M | $5.7M |
| Activos Intangibles | $9.5M | $8.5M | $4.4M | $3.6M | $3.1M | $2.4M | $1.9M |
| Activos Totales | $58.8M | $57.3M | $177.1M | $132.7M | $124.7M | $92.5M | $76.2M |
| Cuentas por Pagar | $2.3M | $4.4M | $3.6M | $3.2M | $3.4M | $2.6M | $3.4M |
| Deuda a Corto | 0 | $6.5M | $841000 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $21.0M | $34.3M | $41.9M | $37.3M | $35.6M | $28.3M | $25.6M |
| Deuda a Largo | $34.6M | $41.0M | 0 | 0 | 0 | 0 | $19.3M |
| Pasivos Totales | $215.2M | $455.7M | $81.3M | $51.6M | $39.1M | $31.4M | $47.2M |
| Reservas | -$168.5M | -$412.4M | -$439.7M | -$475.1M | -$515.3M | -$557.9M | -$597.8M |
| Patrimonio Neto | -$156.4M | -$398.5M | $50.7M | $46.9M | $52.5M | $39.5M | $19.0M |
| Deuda Total | $34.6M | $47.6M | $841000 | $1.5M | $1.3M | $928000 | $19.3M |
| Deuda Neta | $9.6M | $18.3M | -$143.1M | -$89.2M | -$73.5M | -$51.6M | -$28.6M |
| Capital Circulante | $7.1M | -$2.8M | $113.5M | $70.3M | $59.4M | $36.4M | $32.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $32.7M | $47.9M | $44.7M | $38.4M |
| Activos Totales | $70.4M | $76.2M | $73.0M | $64.6M |
| Pasivos Totales | $33.4M | $47.2M | $44.0M | $38.6M |
| Patrimonio Neto | $24.3M | $19.0M | $19.3M | $17.3M |
| Deuda Total | 0 | $19.3M | $19.4M | $19.6M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$25.4M | -$22.4M | -$24.7M | -$30.7M | -$63.9M | -$40.2M | -$67.1M | -$60.9M |
| Amortizaciones | $2.5M | $5.0M | $6.0M | $6.4M | $6.5M | $6.8M | $7.6M | $7.6M |
| Compensación en Acciones | $1.4M | $1.7M | $1.7M | $54.4M | $47.2M | $44.3M | $41.1M | $27.8M |
| Cambio en Capital Circulante | $6.8M | -$873000 | $9.1M | $4.0M | -$11.2M | -$6.3M | $2.9M | -$1.2M |
| Flujo de Caja Operativo | -$14.7M | -$16.3M | -$6.7M | -$38.9M | -$48.0M | -$7.6M | -$15.6M | -$18.8M |
| Inversiones (CapEx) | -$5.8M | -$6.4M | -$2.9M | -$5.2M | -$5.3M | -$6.9M | -$6.9M | -$5.4M |
| Adquisiciones | -$10.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$20.5M | -$22.7M | -$9.5M | -$44.1M | -$53.3M | -$14.4M | -$22.5M | -$24.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$2.4M | -$2.9M | -$1.8M | -$4.7M |
| Inversiones (CapEx) | -$1.7M | -$1.3M | -$1.2M | -$1.5M |
| Flujo de Caja Libre | -$4.1M | -$4.3M | -$3.0M | -$6.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $6.8M | $5.8M | $6.0M | $3.9M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +25.6% | +14.9% | +35.3% | +15.6% | +18.9% | -1.6% | -5.9% |
| Crecimiento Beneficio Neto (anual) | | +11.6% | -9.9% | -10.8% | -29.5% | -13.5% | -6.0% | +6.3% |
| Crecimiento BPA (anual) | | +3.3% | +0.0% | +83.6% | -759.5% | +0.0% | +7.3% | +13.2% |
| Cambio en Acciones (anual) | | +1.0% | -1.0% | -5.5% | +8.4% | +13.1% | +15.0% | +8.2% |
| Crecimiento FCF (anual) | | -10.6% | +58.0% | -362.4% | -21.0% | +72.9% | -55.5% | -7.8% |
| Margen Bruto | 63.2% | 65.9% | 66.5% | 66.8% | 69.4% | 70.6% | 67.5% | 57.3% |
| Margen Operativo | -35.5% | -22.7% | -17.3% | -68.6% | -55.8% | -29.8% | -36.9% | -19.3% |
| Margen EBITDA | -31.5% | -16.9% | -11.4% | -61.9% | -35.3% | -31.4% | -31.3% | -29.7% |
| Margen Neto | -35.2% | -24.8% | -23.7% | -19.4% | -21.8% | -20.8% | -22.4% | -22.3% |
| Margen FCF | -28.5% | -25.1% | -9.2% | -31.3% | -32.8% | -7.5% | -11.8% | -13.5% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.1% | -0.0% | -0.2% | -0.2% | -0.3% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-3.67 | $-4.01 | $-1.70 | $-8.34 | $-9.31 | $-2.23 | $-3.02 | $-3.01 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $5.6M | $5.6M | $5.6M | $5.3M | $5.7M | $6.5M | $7.4M | $8.1M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -151.55% |
| Rentabilidad sobre capital invertido | -79.49% |
| Rentabilidad sobre activos | -46.85% |
| Margen bruto | 60.80% |
| Margen operativo | -21.16% |
| Margen neto | -16.99% |
Salud financiera
| Deuda / Patrimonio | 1.13 |
| Ratio corriente | 2.70 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -8.03 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -32.33 | -33.45 | -38.28 | -94.34 | -5.49 | -8.37 | -4.26 | -3.15 |
| P/VC | 0.00 | -5.25 | -2.34 | 7.04 | 4.12 | 6.35 | 4.58 | 6.61 |
| P/V | 11.29 | 9.09 | 8.95 | 2.53 | 1.19 | 1.72 | 0.95 | 0.70 |
| Margen Bruto | 63.2% | 65.9% | 66.5% | 66.8% | 69.4% | 70.6% | 67.5% | 57.3% |
| Margen Operativo | -35.5% | -22.7% | -17.3% | -68.6% | -55.8% | -29.8% | -36.9% | -19.3% |
| Margen Neto | -35.2% | -24.8% | -23.7% | -19.4% | -21.8% | -20.8% | -22.4% | -22.3% |