NRDY (NRDY) financial statements
NRDY reported revenue of $179M in fiscal 2025, up 12.0% a year over 6 years.
Net income was -$40M and the operating margin -34.6%, against -22.7% in 2019.
Free cash flow was -$24M.
The diluted share count rose 52% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NRDY's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $90M | $104M | $141M | $163M | $193M | $190M | $179M |
| Cost of revenue | $31M | $35M | $47M | $50M | $57M | $62M | $75M |
| Gross profit | $60M | $69M | $94M | $113M | $136M | $128M | $104M |
| Selling, general and admin | $80M | $87M | $187M | $204M | $194M | $199M | $166M |
| Operating income | -$21M | -$18M | -$96M | -$91M | -$58M | -$70M | -$62M |
| Interest expense | $2M | $5M | $4M | — | — | — | — |
| Pre-tax income | -$22M | -$25M | -$31M | -$64M | -$68M | -$67M | -$61M |
| Income tax | $0 | $0 | $40,000 | $19,000 | $109,000 | $115,000 | $159,000 |
| Net income | $0 | $0 | -$4M | -$35M | -$40M | -$43M | -$40M |
| EPS (diluted) | $0.00 | $0.00 | -$0.05 | -$0.41 | -$0.41 | -$0.38 | -$0.33 |
| Diluted shares | 0M | 0M | 79M | 86M | 97M | 112M | 121M |
| Gross margin | 65.9% | 66.5% | 66.8% | 69.4% | 70.6% | 67.5% | 58.0% |
| Operating margin | -22.7% | -17.3% | -68.6% | -55.8% | -29.8% | -36.9% | -34.6% |
| Net margin | 0.0% | 0.0% | -2.7% | -21.8% | -20.8% | -22.4% | -22.3% |
Balance sheet
Fiscal years, from NRDY's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $25M | $29M | $144M | $91M | $75M | $53M | $48M |
| Receivables | — | $475,000 | $5M | $12M | $15M | $7M | $6M |
| Total current assets | $25,093 | $32M | $155M | $108M | $95M | $65M | $58M |
| Property, plant and equipment | — | $10M | $11M | $13M | $16M | $17M | $9M |
| Goodwill | — | $6M | $6M | $6M | $6M | $6M | $6M |
| Total assets | $25,093 | $57M | $177M | $133M | $125M | $93M | $76M |
| Total current liabilities | $8,587 | $34M | $42M | $37M | $36M | $28M | $26M |
| Long-term debt | — | $41M | $0 | — | — | $0 | $19M |
| Total liabilities | $8,587 | $77M | $81M | $52M | $39M | $31M | $47M |
| Shareholders' equity | $16,506 | -$398M | $51M | $47M | $52M | $39M | $19M |
| Net debt | -$25M | $18M | -$144M | -$91M | -$75M | -$53M | -$29M |
Cash flow
Fiscal years, from NRDY's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$16M | -$7M | -$39M | -$48M | -$8M | -$16M | -$19M |
| Capital spending | $6M | $3M | $5M | $5M | $7M | $7M | $5M |
| Free cash flow | -$23M | -$10M | -$44M | -$53M | -$14M | -$22M | -$24M |
| Stock-based compensation | $2M | $2M | $54M | $47M | $44M | $41M | $28M |
| Net borrowing | $0 | $0 | -$50M | $0 | $0 | — | — |
| Free cash flow margin | -25.1% | -9.2% | -31.3% | -32.8% | -7.5% | -11.8% | -13.5% |
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Open NRDY in InvestinglyQuestions
What was NRDY's revenue in 2025?
$179M in fiscal 2025, from its 10-K filing.
How much free cash flow does NRDY generate?
-$24M in fiscal 2025 (operating cash flow minus capital spending).
From NRDY's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.