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Side-by-side financial comparison of Nerdy Inc. (NRDY) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $49.1M, roughly 1.1× Nerdy Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -18.8%, a 86.2% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 2.3%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-4.3M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs -4.4%).
Nerdy Inc. is a leading U.S.-based edtech firm best known for operating the Varsity Tutors platform, offering live one-on-one tutoring, on-demand courses, test prep resources, and skill-building content. It serves K-12 students, higher ed learners, and working professionals across hundreds of academic and professional subject areas.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
NRDY vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $49.1M | $51.6M |
| Net Profit | $-9.2M | $34.8M |
| Gross Margin | 51.0% | — |
| Operating Margin | -28.3% | 97.0% |
| Net Margin | -18.8% | 67.3% |
| Revenue YoY | 2.3% | 32.8% |
| Net Profit YoY | 8.9% | 67.0% |
| EPS (diluted) | $-0.07 | $0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $49.1M | $51.6M | ||
| Q3 25 | $37.0M | $49.1M | ||
| Q2 25 | $45.3M | $47.6M | ||
| Q1 25 | $47.6M | $37.5M | ||
| Q4 24 | $48.0M | $38.9M | ||
| Q3 24 | $37.5M | $35.1M | ||
| Q2 24 | $51.0M | $32.4M | ||
| Q1 24 | $53.7M | $29.5M |
| Q4 25 | $-9.2M | $34.8M | ||
| Q3 25 | $-12.3M | $25.4M | ||
| Q2 25 | $-7.9M | $26.0M | ||
| Q1 25 | $-10.5M | $18.9M | ||
| Q4 24 | $-10.1M | $20.8M | ||
| Q3 24 | $-15.9M | $15.8M | ||
| Q2 24 | $-9.1M | $14.8M | ||
| Q1 24 | $-7.4M | $17.3M |
| Q4 25 | 51.0% | — | ||
| Q3 25 | 62.9% | — | ||
| Q2 25 | 61.5% | — | ||
| Q1 25 | 58.0% | — | ||
| Q4 24 | 66.6% | — | ||
| Q3 24 | 70.5% | — | ||
| Q2 24 | 65.7% | — | ||
| Q1 24 | 68.0% | — |
| Q4 25 | -28.3% | 97.0% | ||
| Q3 25 | -51.5% | 72.1% | ||
| Q2 25 | -27.1% | 71.3% | ||
| Q1 25 | -34.8% | 71.7% | ||
| Q4 24 | -34.0% | 82.5% | ||
| Q3 24 | -68.5% | 60.6% | ||
| Q2 24 | -29.9% | 61.3% | ||
| Q1 24 | -23.9% | 78.8% |
| Q4 25 | -18.8% | 67.3% | ||
| Q3 25 | -33.2% | 51.7% | ||
| Q2 25 | -17.4% | 54.6% | ||
| Q1 25 | -22.1% | 50.4% | ||
| Q4 24 | -21.1% | 53.5% | ||
| Q3 24 | -42.4% | 45.1% | ||
| Q2 24 | -17.8% | 45.6% | ||
| Q1 24 | -13.9% | 58.5% |
| Q4 25 | $-0.07 | $0.90 | ||
| Q3 25 | $-0.10 | $0.65 | ||
| Q2 25 | $-0.07 | $0.69 | ||
| Q1 25 | $-0.09 | $0.51 | ||
| Q4 24 | $-0.09 | $0.56 | ||
| Q3 24 | $-0.14 | $0.44 | ||
| Q2 24 | $-0.08 | $0.42 | ||
| Q1 24 | $-0.07 | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.9M | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $19.0M | $672.5M |
| Total Assets | $76.2M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.9M | $92.1M | ||
| Q3 25 | $32.7M | $99.0M | ||
| Q2 25 | $36.7M | $79.6M | ||
| Q1 25 | $44.9M | $51.7M | ||
| Q4 24 | $52.5M | $49.9M | ||
| Q3 24 | $65.0M | $44.1M | ||
| Q2 24 | $69.8M | $47.4M | ||
| Q1 24 | $77.0M | $34.8M |
| Q4 25 | $19.0M | $672.5M | ||
| Q3 25 | $24.3M | $634.3M | ||
| Q2 25 | $31.8M | $597.9M | ||
| Q1 25 | $34.4M | $563.2M | ||
| Q4 24 | $39.5M | $516.9M | ||
| Q3 24 | $43.3M | $484.6M | ||
| Q2 24 | $52.2M | $471.3M | ||
| Q1 24 | $52.8M | $452.9M |
| Q4 25 | $76.2M | $7.4B | ||
| Q3 25 | $70.4M | $7.0B | ||
| Q2 25 | $73.7M | $6.5B | ||
| Q1 25 | $83.0M | $6.0B | ||
| Q4 24 | $92.5M | $5.5B | ||
| Q3 24 | $106.8M | $5.2B | ||
| Q2 24 | $111.3M | $4.9B | ||
| Q1 24 | $121.3M | $4.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $18.2M |
| Free Cash FlowOCF − Capex | $-4.3M | $17.9M |
| FCF MarginFCF / Revenue | -8.7% | 34.6% |
| Capex IntensityCapex / Revenue | 2.7% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-24.2M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $18.2M | ||
| Q3 25 | $-2.4M | $11.5M | ||
| Q2 25 | $-7.0M | $7.7M | ||
| Q1 25 | $-6.4M | $3.5M | ||
| Q4 24 | $-11.3M | $37.8M | ||
| Q3 24 | $-3.1M | $-17.6M | ||
| Q2 24 | $-5.6M | $11.5M | ||
| Q1 24 | $4.4M | $10.6M |
| Q4 25 | $-4.3M | $17.9M | ||
| Q3 25 | $-4.1M | $11.4M | ||
| Q2 25 | $-8.2M | $7.6M | ||
| Q1 25 | $-7.6M | $3.5M | ||
| Q4 24 | $-12.5M | $37.5M | ||
| Q3 24 | $-5.0M | $-17.6M | ||
| Q2 24 | $-7.1M | $11.4M | ||
| Q1 24 | $2.1M | $10.5M |
| Q4 25 | -8.7% | 34.6% | ||
| Q3 25 | -11.2% | 23.2% | ||
| Q2 25 | -18.1% | 15.9% | ||
| Q1 25 | -16.0% | 9.2% | ||
| Q4 24 | -26.0% | 96.4% | ||
| Q3 24 | -13.3% | -50.3% | ||
| Q2 24 | -14.0% | 35.1% | ||
| Q1 24 | 4.0% | 35.8% |
| Q4 25 | 2.7% | 0.5% | ||
| Q3 25 | 4.6% | 0.1% | ||
| Q2 25 | 2.6% | 0.2% | ||
| Q1 25 | 2.5% | 0.2% | ||
| Q4 24 | 2.4% | 0.7% | ||
| Q3 24 | 5.2% | 0.2% | ||
| Q2 24 | 3.0% | 0.3% | ||
| Q1 24 | 4.1% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NRDY
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
