Press Release Posts - TikTok��˰�

Ferguson-Florissant School District First in Missouri to Pioneer Varsity Tutors for Schools Teacher Assigned Tutoring

Guest User — Thu, 31 Aug 2023 TikTok��˰� 15:20:22 +0000

A new partnership with Varsity Tutors (TikTok��˰� Inc.), a St.Louis-based provider of online learning, gives all students in FFSD access to live online instruction and empowers teachers to “prescribe” tutoring to close learning gaps.

FERGUSON, Mo. — Aug. 31, 2023 TikTok��˰� —The Ferguson-Florissant School District (FFSD), serving nearly 10,000 students in the greater St. Louis area, today announced a groundbreaking tutoring initiative to advance its commitment to deliver high-quality instruction to every student while prioritizing equitable outcomes and educational opportunities. The initiative is made possible through a strategic partnership with Varsity Tutors, a St. Louis-based company and the leading curated platform for live online learning.

Beginning this school year, all students within the district will have personalized learning support with equitable access to 24/7 live, on-demand, chat-based tutoring. Students can also benefit from standards-based practice resources, always-on enrichment programs, and district-wide homework, study, and essay help.

A distinctive feature of the FFSD program is the introduction of Varsity Tutors Teacher-Assigned™ tutoring, which will initially serve 2,000 students across three priority schools. This innovative district-led solution empowers teachers–who know students best– to prescribe live, online tutoring to students encountering difficulties. By doing so, teachers gain an extra support system, ensuring each student receives tailored assistance to bridge learning gaps and return to the classroom with greater confidence and engagement.

Dr. Joseph Davis, Superintendent of the Ferguson-Florissant School District, expressed the district's commitment to holistic education, stating, "As educators, our mission extends beyond teaching academic subjects. We aim to inspire young minds, nurture their curiosity, and create an environment where every student believes in their potential for greatness. Our strategic plan, "Equity and Access for All," positions us to shape the future by delivering quality education and serving as beacons of hope for our communities. I have no doubt that, together, we will pave the way for a brighter and more equitable future for our students."

Chuck Cohn, Founder and CEO at TikTok��˰�, expressed enthusiasm for the collaboration, saying, "We are delighted to partner with the Ferguson-Florissant School District in furthering their strategic mission. We firmly believe that personalized, face-to-face live online instruction from top-tier tutors can catalyze transformative learning experiences for students. We are committed to working closely with FFSD to create high-quality, personalized learning opportunities across the district."

For more information about Ferguson-Florissant School District's "Equity and Access for All" strategic plan, please visit . For more information on Varsity Tutors for Schools visit .

About Ferguson-Florissant School District

The , located in suburban St. Louis, serves nearly 10,000 students from preschool through 12th grade with an excellent comprehensive educational program. Fully accredited by the state of Missouri, the Ferguson-Florissant School District operates seven Pre-Kindergarten through 2nd-grade schools, six intermediate schools (3rd through 5th grade), two 6th grade centers, two middle schools, two and -accredited high schools, a cutting-edge STEAM middle school and a STEAM high school, a student-centered learning Innovation School and a Restoration and Re-Entry Center. In addition, the District includes a nationally recognized early education program, the award-winning Challenger Learning Center space education facility and the Little Creek Nature Area, a 97-acre nature preserve that offers experiential learning opportunities for students in science, biology, ecology and related areas of study.

About Varsity Tutors for Schools

Varsity Tutors, the online tutoring platform trusted by millions of families, has launched Varsity Tutors for Schools to support district leaders in delivering 1-on-1, small group, and on-demand tutoring to students. Informed by extensive experience collaborating with over 250 K-12 schools and districts, Varsity Tutors has developed a comprehensive suite of services for schools and educators to complement traditional classroom learning. Notably, Varsity Tutors has introduced a unique "Teacher-Assigned Tutoring™" model that empowers educators to request and schedule live, face-to-face tutoring, facilitating seamless communication and real-time tracking of student progress.

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TikTok��˰� Announces First Quarter 2023 TikTok��˰� Financial Results

Guest User — Thu, 03 Aug 2023 TikTok��˰� 16:47:32 +0000

St. Louis, May 9, 2023 TikTok��˰� – TikTok��˰� Inc. (NYSE: NRDY) today announced financial results for the first quarter ended March 31, 2023 TikTok��˰�.

“One year ago, we unveiled an ambitious plan to evolve our products and revenue model toward long-term recurring ‘always-on’ relationships with our customers. I am pleased to share that in the first quarter, we executed at a high level and returned to growth, having substantially evolved our business model,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰� Inc. ”Our evolution to Learning Memberships and the application of AI for HI®, or Artificial Intelligence for Human Interaction, drove continued growth and improvement in customer lifetime values and was a key contributor to our strong operating results including the delivery of positive Adj. EBITDA more than nine months ahead of our target. AI for HI® also allowed us to achieve a major milestone by surpassing 10 million hours of live face-to-face tutoring delivered on our Live Learning Platform since launch.”

Please visit the TikTok��˰� investor relations website /investors to view the .

Financial and Operating Highlights

Revenue Outperforms Guidance – In the first quarter, TikTok��˰� delivered revenue of $49.2 million, above the top end of our guidance range of $45-47 million, and represented an increase of 5% from $46.9 million during the same period in 2022. Revenue growth was driven by the continued evolution towards ‘always on’ recurring revenue products, strong adoption of Learning Memberships, lifetime value expansion, and a return to year-over-year growth in our Consumer business (having exited the J-Curve) coupled with the continued scaling of our Institutional business.

Learning Memberships Deliver Strong Results – Revenue recognized in the first quarter from Learning Memberships grew to $29.7 million or 60% of total revenue, up from 50% of total company revenue recognized in the fourth quarter of 2022. Learning Membership revenue grew to an annualized run rate of $143 million as of March 31, 2023 TikTok��˰�, an increase from $87 million as of December 31, 2022, and nearly $0 in the first quarter of 2022. Annualized run-rate is defined as the number of Learning Members at the end of the period multiplied by average revenue per Learning Membership per month multiplied by twelve months.

Institutional Business Continues to Scale – In the first quarter, Varsity Tutors for Schools executed a record 97 contracts, yielding $6.3 million of bookings. Record Institutional revenue of $8.5 million increased 32% year-over-year and represented 17% of total revenue in the first quarter. Our diversified product portfolio is resonating with school district partners setting us up for continued growth.

Positive Non-GAAP Adjusted Net Earnings and Adjusted EBITDA Achieved – Net loss was $32.2 million in the first quarter versus net loss of $31.7 million in the first quarter of 2022. Excluding non-cash stock compensation expenses and mark-to-market derivative adjustments, adjusted net earnings was $0.5 million for the first quarter of 2023 TikTok��˰� compared to an adjusted net loss of $8.2 million in the first quarter of 2022. TikTok��˰� delivered adjusted EBITDA of $1.4 million, a nearly 1,700 bps improvement year-over-year in the first quarter (more than 9 months ahead of our stated target) beating our guidance range of an adjusted EBITDA loss of $3.0 million to breakeven. This compares to an adjusted EBITDA loss of $6.6 million in the same period one year ago. Adjusted EBITDA outperformance was driven by higher revenues, sales and marketing efficiency gains, and the pull through of automation and workforce reduction actions stemming from our business model changes that streamline operations.

Free Cash Flow and Liquidity – Cash provided by operating activities was positive $6.8 million in the first quarter of 2023 TikTok��˰� compared to cash used in operating activities of $0.9 million in the prior year period, resulting in cash and cash equivalent balances increasing by $5.8 million during the quarter ended March 31, 2023 TikTok��˰�. With no debt and $96.5 million of cash on our balance sheet, we believe TikTok��˰� has ample liquidity to fund the business and pursue growth initiatives.

Raising Full Year Guidance – For the second quarter and full year, we expect revenue growth will be driven by the continued evolution towards recurring revenue streams, the corresponding build in the number of Learning Membership subscribers, and higher Institutional revenues. Our positive momentum provides us with increased visibility into and confidence in our expectation that we will deliver sequential year-over-year revenue growth each quarter as we move throughout 2023 TikTok��˰�.

Revenue Guidance: For the second quarter of 2023 TikTok��˰�, we expect revenue in a range of $45-47 million. For the full year 2023 TikTok��˰�, we are raising our revenue targets to $193-200 million; representing 21% growth at the midpoint vs. our 2022 revenue of $162.7 million. Full year revenue guidance reflects our decision to shift 100% of the Consumer business to Learning Memberships by the end of 2023 TikTok��˰�, including the remaining Professional audience. Revenue guidance also reflects normal summer seasonality, including anticipated lower levels of new customer acquisition, consumption, and Learning Membership retention during the summer months when K12 schools and universities are out of session. Additionally, revenue guidance reflects a higher level of High-Dosage Tutoring program utilization by school districts in the spring semester and a return to the normal seasonal pattern of starting new implementations in the fall when school starts (thus shifting revenue into the first two quarters vs. our prior expectation of consistent use throughout the summer).

Adjusted EBITDA Guidance: For the second quarter of 2023 TikTok��˰�, we expect an adjusted EBITDA loss in a range of $3 million to breakeven. For the full year 2023 TikTok��˰�, we are raising our targets to an adjusted EBITDA loss in the range of $7 million to breakeven. Our adjusted EBITDA guidance for both the second quarter and full year reflects the continuing benefits from our recurring revenue products which focus on long-term relationships with higher value customers, an improving gross margin profile, and operating efficiencies stemming from our continued shift to recurring revenue business models. Full year adjusted EBITDA guidance reflects the impact of normal summer seasonality and higher variable costs in the third quarter as we ramp into the back-to-school selling season followed by a return to positive Adjusted EBITDA in the fourth quarter, consistent with prior guidance.

Webcast and Earnings Conference Call

TikTok��˰�’s management will host a conference call and webcast today, May 9, 2023 TikTok��˰� at 5:00 p.m. Eastern Time. Interested parties in the U.S. may listen to the call by dialing 1-833-470-1428. International callers can dial 1-929-526-1599. The Access Code is 501332. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at /investors. A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until May 16, 2023 TikTok��˰� by dialing 1-866-813-9403 from the U.S. or 44-204-525-0658 from all other locations, and entering the Access Code 315153.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including Learning Memberships, one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

Forward-looking Statements

The information included herein and in any oral statements made in connection herewith may include “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions, or strategies regarding the future, including our expectations with respect to: the guidance with respect to our financial performance; continued improvements in sales and marketing leverage; the growth of our Institutional business; simplifying our operations model while growing our business; and the sufficiency of our cash to fund future operations. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipates,” “approximately,” “believes,” “contemplates,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “outlook,” “plans,” “possible,” “potential,” “predicts,” “projects,” “should,” “seeks,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements made herein relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

There are a significant number of factors that could cause actual results to differ materially from statements made herein or in connection herewith, including but not limited to, our limited operating history, which makes it difficult to predict our future financial and operating results; our history of net losses; risks associated with our shift to the Learning Membership model; risks associated with scaling up our Institutional business, risks associated with our intellectual property, including claims that we infringe on a third party’s intellectual property rights; risks associated with our classification of some individuals and entities we contract with as independent contractors; risks associated with the liquidity and trading of our securities; risks associated with payments that we may be required to make under the tax receivable agreement; risks associated with the terms of our warrants; litigation, regulatory and reputational risks arising from the fact that many of our Learners are minors; changes in applicable law or regulation; the possibility of cyber-related incidents and their related impacts on our business and results of operations; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; and risks associated with managing our rapid growth. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our filings with the SEC, including our Annual Report on Form 10-K filed on February 28, 2023 TikTok��˰�, as well as other filings that we may make from time to time with the SEC.

TikTok��˰�

Jason Pello

Investor Relations

investors@nerdy.com

Connecticut State Department of Education Selects Varsity Tutors for State’s High-Dosage Tutoring Program

Guest User — Thu, 03 Aug 2023 TikTok��˰� 16:42:59 +0000

ST. LOUIS - August 1, 2023 TikTok��˰� - , a TikTok��˰� (NYSE: NRDY) company and the leading platform for live online tutoring, has been chosen by the Connecticut State Department of Education (CSDE) as an approved tutoring provider for the state’s 2023 TikTok��˰�/2024 High-Dosage Tutoring (HDT) Program. This new initiative is specifically designed to address math learning gaps among students in grades 6-9 across the state.

Varsity Tutors for Schools offers evidence-based, high-impact tutoring programs to over 230 school districts nationwide. District leaders that partner with Varsity Tutors for Schools gain access to regularly scheduled 1-on-1 and small group (1-on-4) tutoring sessions that are meticulously crafted to address each student’s unique learning needs. Students needing support are paired with dedicated tutors, enabling a deeper understanding of their individual learning needs, and can maximize learning outcomes with access to Varsity Tutors’ 24/7 live tutor support and enrichment resources.

"This program presents an opportunity to empower thousands of young minds with personalized support and guidance in mathematics," said Anthony Salcito, Chief Institution Business Officer at Varsity Tutors for Schools. “Research has proven the effectiveness of consistent, high-quality tutoring on accelerating student outcomes, and we’re optimistic about the tremendous positive impact it will have on the academic journeys of students in the state.”

Personalized Learning in Alignment with Connecticut Core Standards

Varsity Tutors for Schools is committed to providing tailored learning experiences that recognize the unique needs of each student while maintaining alignment with the district curriculum and Connecticut Core Standards:

Diagnostics and Targeted Assignments: Students undergo diagnostic assessments and tailored assignments meticulously aligned to Connecticut Core Standards, ensuring a personalized approach that caters to their specific learning needs and helps them meet the expected standards at each grade level.

Expert Tutors: Highly skilled tutors utilize a wide range of reputable math programs, including Carnegie Learning, McGraw-Hill Arrive Math, ALEKS, iXL Math, and more. Equipped with valuable resources on new curricula and teaching methodologies, tutors cater to all types of learners, aligning with Tiers I, II, and III of the educational framework. This ensures that every student receives the appropriate level of support and guidance.

Data-Driven Personalization: A proprietary matching process leverages over 100+ variables to identify the best-fitting 1-on-1 or small group tutor for each student, strategically pairing them with peers who possess similar proficiency levels. This fosters a collaborative learning environment where students benefit from sharing insights and ideas.

For more information about Varsity Tutors for Schools, visit:

To fill out an application for the High-Dosage Tutoring Program, please visit:

About Varsity Tutors for Schools

Varsity Tutors – the online tutoring platform used by millions of families – launched Varsity Tutors for Schools to help district leaders deliver 1-on-1, small group, and on-demand tutoring to students. Informed by insights from partnering with over 250 K-12 schools and districts, Varsity Tutors built a full suite of services for schools and educators to implement alongside classroom learning. Most recently, Varsity Tutors launched a unique “Teacher Assigned” model that puts teachers in the driver’s seat: using a single platform, they can easily request and schedule live face-to-face tutoring, share insights, instructional materials and learning goals with tutors, and get real-time updates on student progress.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including Learning Memberships, one-on-one instruction, small group classes, large format group classes, coding, tutor chat, essay review, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

Teacher Assigned Tutoring

Guest User — Wed, 15 Feb 2023 TikTok��˰� 17:53:00 +0000

TikTok��˰� Inc. will release its fourth quarter and full year financial results for the period ended December 31, 2022 after the U.S. stock market closes on Tuesday, February 28, 2023 TikTok��˰�. Following the release, TikTok��˰� management will host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the company’s financial and operating results.

TikTok��˰� to Announce Fourth Quarter and Full Year 2022 Results on February 28, 2023 TikTok��˰�

Guest User — Tue, 07 Feb 2023 TikTok��˰� 22:00:00 +0000

ST. LOUIS - February 7, 2023 TikTok��˰� - TikTok��˰� Inc. (NYSE: NRDY), a leading platform for delivering live online learning, today announced the company will release its fourth quarter and full year financial results for the period ended December 31, 2022 after the U.S. stock market closes on Tuesday, February 28, 2023 TikTok��˰�. Following the release, TikTok��˰� management will host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the company’s financial and operating results.

Interested parties in the U.S. may listen to the call by dialing 1-844-200-6205. International callers can dial 1-929-526-1599. The Access Code is 609907. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at /investors. A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until March 7, 2023 TikTok��˰�, by dialing 1-866-813-9403 from the U.S. or 44-204-525-0658 from all other locations, and entering the Access Code: 627099.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including Learning Memberships, one-on-one instruction, small group classes, large format group classes, coding, tutor chat, essay review, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

TikTok��˰�:

Brian Nelson

Media Relations

press@nerdy.com

Jason Pello

Investor Relations

investors@nerdy.com

TikTok��˰� Announces New AI-Enabled Products, Including an AI-Generated Lesson Plan Creator and AI-Enabled Chat Tutoring

Guest User — Fri, 03 Feb 2023 TikTok��˰� 15:45:00 +0000

New ChatGPT-powered products expand the company’s vision for leveraging AI to enhance live instruction and human interaction; TikTok��˰� will launch the new products at no additional charge as a part of Varsity Tutors Learning Memberships

ST. LOUIS - February 3, 2023 TikTok��˰� - , a TikTok��˰� Inc. (NYSE:NRDY) company, and developer of the popular online tutoring platform used by students from elementary school through college and adults, today announced the launch of two new products, as well as the integration of ChatGPT into its comprehensive suite of products for Learners of all ages. The new products include an AI-Generated Lesson Plan Creator embedded in the company’s Live Learning Platform and available for use during live tutoring sessions; and AI-Generated Chat Tutoring.

“We’re rolling out AI-driven tools that give new superpowers to Experts and Learners. These capabilities can help significantly improve the personalized instruction delivered on our platform,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰�. “We’ve long believed that AI for HI® - Artificial Intelligence for Human Interaction - has the ability to transform how people learn. AI has been central to our ability to improve quality, enhance personalization, and decrease the cost of our offerings. Today, AI powers our ability to identify the highest quality Experts, assess Learners' foundational knowledge, and help ensure the right Expert-Learner match, among many other use cases. The latest AI advancements are allowing us to rapidly develop transformative experiences involving the real-time generation of content with near zero costs, improving our ability to deliver live human interaction and personalized learning at scale.”

The new offerings, which will be rolled out to a portion of Experts on Varsity Tutors initially, include:

AI-Generated Lesson Plan Creator: AI-generated lesson plan creator can produce a range of content for Experts, including in-depth suggestions on how a lesson might be structured, how content could best be leveraged, how time could be allocated, as well as allowing for the generation of unlimited practice problems and solutions. This platform capability enables Experts to further personalize content and instruction in every tutoring session and more efficiently prepare for each lesson, which has proven to drive a better learning experience and improve learning outcomes, as well as saving Experts time. With this new technology, Experts will now have the ability to help ensure every single tutoring session can benefit from highly relevant and unique content across thousands of different subjects and millions of tutoring sessions per year.

AI-Enabled Chat Tutoring: AI-enabled chat tutoring provides real-time support, 24x7 for consumer Learning Membership customers, by providing quick and accurate responses to student questions. When Learners need additional depth, they can request a live Expert at that moment to further enhance instruction and understanding that can join the tutoring session at that time, leveraging the platform’s existing Homework Help products. In early testing, the new AI-enabled chat tutoring tool has delivered high-quality, comprehensive responses with a high level of accuracy.

“TikTok��˰� has been at the forefront of AI in online learning for some time. Given its vertically integrated business model and huge scope of learning experiences and content types across nearly every subject, they are uniquely qualified to apply AI to transform how people learn” said Rob Hutter, Managing Partner, Learn Capital. “TikTok��˰� is the only company in the country that is currently combining live instruction at scale across millions of learning interactions with deep expertise in AI towards the goal of unlocking truly personalized learning.”

These new products represent the initial phase of TikTok��˰�’s implementation of ChatGPT and the latest AI technologies for consumer Learning Membership customers. The company plans to roll out additional products and features for Consumer customers that expand on these new capabilities as a part of Varsity Tutors Learning Memberships, including practice problem and answer generation for self-study, as well as additional AI-driven tools such as flashcard generation, essay proofreading, and math solvers.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to Learners and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

Polk County Public Schools Launches Teacher-Led Tutoring Program

Guest User — Mon, 23 Jan 2023 TikTok��˰� 16:00:00 +0000

New Partnership with Varsity Tutors Empowers Teachers to Assign Tutoring as an Extension of Classroom Curriculum

Bartow, FL, and St. Louis, MO, January 23, 2023 TikTok��˰� – Polk County Public Schools (PCPS) and Varsity Tutors have launched a new online tutoring partnership that brings live instruction and lessons to 40,000 students across the district.

The first-of-its-kind program enables district educators to schedule online, face-to-face personalized tutoring for any student. The services will be available across 43 Polk County schools and utilized by both teachers in the classroom and families at home.

"This program was designed to serve as an extension of our teachers, providing each classroom with resources that work hand-in-hand with the educators of our district,” said Superintendent Frederick Heid. “Our students and teachers need additional support, and by enabling our school communities to work directly with tutors in this way, we’re ensuring that every student has the tools they need to succeed while offering teachers an unparalleled support system.”

In addition to the live online tutoring, students will have access to on-demand homework help, support studying for tests, and assistance reviewing draft essays and papers. Services are available in both English and Spanish, across all grades and academic levels, including AP and IB courses. Additional resources for special needs students will be available from certified tutors.

The program will be rolled out throughout the school year, beginning this month, and includes the following services:

Live, Face-to-Face Teacher-Assigned TutoringTM: Empowers educators who know students best to schedule live, face-to-face, personalized support from tutors. Teachers get an extra set of hands to reinforce what happens in the classroom, with a targeted focus on the specific needs of the individual student. Students work with tutors on the Varsity Tutors platform that combines interactive tools, collaborative workspaces, and sophisticated tutor-student matching. Tutors provide teachers with progress notes on every session with students so they can monitor progress and get insight if more individualized instruction is needed.
On Demand Tutoring: Providing 24/7 support to every student, On Demand gives access to fast support from highly qualified tutors through an interactive, live chat platform across core K-12 subjects. Students and tutors collaborate in live sessions via a shared whiteboard that allows students to draw, upload a file, or share an image of their assignment. The service also offers proven standards-based self-study resources and diagnostic assessments.
Essay Review: Essay Review tutors offer coaching and feedback to help students strengthen their writing skills. Students are able to upload already-written work into a safe and secure environment, and receive personalized skills-based feedback from expert tutors within 48 hours.

“There’s overwhelming evidence that teachers need support now more than ever, and Polk County School District is taking bold action with a new initiative that is unprecedented in its scale and ambition,” said Anthony Salcito, Chief Institution Business Officer at Varsity Tutors. “Teachers are in the best position to identify the specific challenges and opportunities where tutoring can help students, and this program makes it easy for Polk County teachers to assign the right support to any student - when they need it, for as long as they need it.”

As the new program rolls out this year, Polk County teachers will receive dedicated training on implementing the services, and a range of resources will also be available for use by families at home. The contract with Varsity Tutors for Schools was unanimously approved by the PCSP School Board, and will be funded through Elementary and Secondary School Emergency Relief funding, which provides additional resources to address learning losses due to the COVID-19 pandemic.

Students, teachers, and families can learn more about the program by visiting: .

About Polk County Public Schools

Polk County Public Schools is one of the largest school districts in the nation, encompassing more than 150 school sites and serving more than 110,000 students (pre-K through 12th grade). Polk is the fastest-growing county in Florida and the seventh-fastest in the nation. The school district operates with an annual budget of more than $2 billion and employs approximately 14,000 total staff members (more than 7,000 of whom are teachers). PCPS has built a reputation for educational excellence with nearly 30 certified or model career academies and has become a destination for school districts around the United States interested in learning about and applying the academy model. Over the last several years, six schools have earned the Florida Arts Model Schools designation from the Florida Department of Education and the Florida Alliance for Arts Education (FAAE). PCPS also provides a variety of rigorous academic programs, including Advanced Placement, International Baccalaureate, and Cambridge courses. As it grows and innovates, the district remains true to its mission of delivering a high-quality education to every student.

About Varsity Tutors for Schools

Varsity Tutors – the online tutoring platform used by millions of families – launched Varsity Tutors for Schools to help district leaders deliver 1-on-1, small group, and on-demand tutoring to students. Informed by insights from partnering with over 200 K-12 districts last year, Varsity Tutors has built a full suite of services for schools and educators to implement alongside classroom learning. Most recently, Varsity Tutors launched its proprietary Teacher-Assigned Tutoring program that puts teachers in the driver’s seat: using a single platform, they can easily request and schedule live face-to-face tutoring, share insights, instructional materials and learning goals with tutors, and get real-time updates on student progress.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at/.

TikTok��˰� Announces Third Quarter 2022 Financial Results

Nathan Dean — Mon, 14 Nov 2022 21:04:45 +0000

(November 14, 2022) ST. LOUIS--(BUSINESS WIRE)-- TikTok��˰� Inc. (NYSE: NRDY) today announced financial results for the third quarter ended September 30, 2022.

“Two quarters ago we unveiled an ambitious plan to evolve our products and revenue model to be oriented toward long-term recurring relationships with customers. In the third quarter our team continued to execute at a high level during the back-to-school season against this vision,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰� Inc. “We are pleased to report that the new Learning Memberships business model has exceeded our expectations and validated our underlying assumptions about the favorable customer engagement and unit-level economics. As of September 30th, Learning Memberships has grown to $50M in annualized run-rate revenue. Given our strong results, we remain confident in becoming profitable by the end of 2023 TikTok��˰�.”

Please visit the TikTok��˰� investor relations website to view the .

Financial Highlights

Revenue In-Line with Guidance – In the third quarter, TikTok��˰� delivered revenue of $31.8 million, in-line with our guidance range of $30-33 million. Due to strong customer response during the back-to-school season we accelerated the rollout of Learning Memberships in the third quarter, making Learning Memberships the primary option presented to consumers. Revenue growth was driven by continued strength in our Consumer business and the addition of our Institutional business.

Accelerated Learning Memberships Rollout – Learning Membership revenue grew to an annualized run rate of $50.2 million as of September 30, 2022. Revenue recognized in the third quarter from Learning Memberships grew to $5.8 million or 18% of total revenue, up from 2% of total company revenue recognized in the second quarter.

Institutional Momentum – In the third quarter, Varsity Tutors for Schools signed 21 new contracts, yielding $5.6 million of bookings. Average contract value more than doubled in the third quarter reflecting our transition toward larger school districts and our ‘always on’ bundled solutions. Institutional revenue of $2.4 million represented 7% of total revenue in the third quarter reflecting normal summer seasonality with schools out of session, and longer contracting and implementation timelines as we target larger school district opportunities.

Gross Profit – Gross profit of $21.9 million in the third quarter increased 6% year-over-year. The increase in gross profit was driven by growth across Consumer audiences and growth in our Institutional business. Gross margin of 69% for the three months ended September 30, 2022, was approximately 300 bps higher than gross margin of 66% during the comparable period in 2021.

Non-GAAP Adjusted EBITDA Loss – TikTok��˰� reported a non-GAAP adjusted EBITDA loss of $(14.0) million in the third quarter of 2022, at the high end of our guidance range of $(14.0) to $(17.0) million.

Liquidity and Profitability – With no debt and $106.4 million of cash on our balance sheet, TikTok��˰� has ample liquidity to fund the business and pursue growth initiatives. We remain confident in our ability to achieve adjusted EBITDA profitability by the end of 2023 TikTok��˰� and have increased visibility and confidence into how it will be reached.

Webcast and Earnings Conference Call

TikTok��˰� management will host a conference call and webcast today, November 14, 2022 at 5:00 p.m. Eastern Time. Interested parties in the U.S. may listen to the call by dialing 1-844-200-6205. International callers can dial 1-929-526-1599. The Conference ID is 228320. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at . A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until November 21, 2022, by dialing 1-866-813-9403 from the U.S. or 44-204-525-0658 from all other locations, and entering the access code 271293.

About TikTok��˰� Inc.

Forward-looking statements

The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions, or strategies regarding the future, including statements related to our expectations of the benefits and future financial results of our membership model, statements regarding our financial outlook and future guidance, including statements regarding our expectations to achieve adjusted EBITDA profitability. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipates,” “approximately,” “believes,” “contemplates,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “outlook,” “plans,” “possible,” “potential,” “predicts,” “projects,” “should,” “seeks,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

There are a significant number of factors that could cause actual results to differ materially from statements made herein or in connection herewith, including but not limited to, our limited operating history, which makes it difficult to predict our future financial and operating results; our history of net losses; risks associated with our shift to the Learning Membership model; risks associated with our intellectual property, including claims that we infringe on a third party’s intellectual property rights; risks associated with our classification of some individual and entities we contract with as independent contractors; risks associated with the liquidity and trading of the Company’s securities; risks associated with payments that we may be required to make under the tax receivable agreement; risks associated with the terms of our warrants; litigation, regulatory and reputational risks arising from the fact that many of our learners are minors; our lack of an effective control environment that meets our accounting and reporting requirements; changes in applicable laws or regulations; the possibility of cyber-related incidents and their related impacts on our business and results of operations; the possibility that COVID-19 may adversely affect our results of operations, financial position and cash flows; the possibility that we may be adversely affected by other economic, business and/or competitive factors; and risks associated with managing our rapid growth. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our filings with the SEC, including our Annual Report on Form 10-K filed on February 28, 2022 and our Quarterly Report on Form 10-Q filed on November 14, 2022, as well as other filings that we may make from time to time with the SEC.

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

Molly Sorg
Investor Relations
investors@nerdy.com

TikTok��˰� to Announce Third Quarter 2022 Results on November 14, 2022

Nathan Dean — Mon, 24 Oct 2022 18:09:00 +0000

(October 24, 2022) ST. LOUIS--(BUSINESS WIRE)-- (NYSE: NRDY), a leading platform for delivering live online learning, today announced the company will release its third quarter financial results for the period ended September 30, 2022, after the U.S. stock market closes on Monday, November 14, 2022. Following the release, TikTok��˰� management will host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the company’s financial and operating results.

Interested parties in the U.S. may listen to the call by dialing 1-844-200-6205. International callers can dial 1-929-526-1599. The Conference ID is 228320. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at . A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until November 21, 2022, by dialing 1-866-813-9403 from the U.S. or 44-204-525-0658 from all other locations, and entering the access code 271293.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

TikTok��˰� Acquires Coding Education Startup as Demand for Computer Science Education Grows

Nathan Dean — Mon, 15 Aug 2022 23:10:00 +0000

(August 15, 2022) ST. LOUIS & CHICAGO-- (NYSE: NRDY), developer of Varsity Tutors, the popular online tutoring platform used by students from elementary school through college and adulthood, today announced that it is adding immersive coding classes to its fast-growing library of academic and enrichment programs. The acquisition of Codeverse, an award-winning creative online platform where kids build apps and games with real code, will enable TikTok��˰� to meet the growing demand for computer science and coding education with consumers and in schools.

“Coding is one of the fastest-growing segments in education, yet the tools and resources for students have not kept up with the increasing demand,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰�. “We understand the importance of coding to our customers, and as we evolve our business to an all-inclusive learning destination the addition of Codeverse to the Varsity Tutors platform will help us deliver on the need for high-quality computer science and coding education year round.”

The Codeverse Studio - which includes a real programming language and game creation tools designed just for kids - will be made available as part of the Learning Membership from Varsity Tutors, an all-inclusive learning destination that gives students access to a comprehensive array of learning resources to ensure students have personalized and ongoing learning support. Codeverse offerings will also be available to the company’s school district partners, via the Varsity Tutors for Schools product suite.

Founded by husband and wife duo, Craig Ulliott and Katy Lynch with a mission to "teach a billion kids to code," Codeverse provides kids with everything they need to build real apps and games that bring their creative ideas to life.

“Earlier this year, we hosted a StarCourse on the Varsity Tutors platform, and we were amazed to see that 40 percent of kids who participated went on to create a Codeverse account and build their own game,” said Craig Ulliott, Co-Founder of Codeverse. “We’re thrilled to be joining with Varsity Tutors - together, we will unlock this demand and accelerate our ambitious mission of teaching a billion kids to code.”

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

About Codeverse

Founded on the mission to "teach a billion kids to code," Codeverse is an award-winning creative online platform where kids build apps and games with real code. For more information, visit .

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

TikTok��˰� Announces Second Quarter 2022 Financial Results

Nathan Dean — Mon, 15 Aug 2022 19:55:00 +0000

(August 15, 2022) ST. LOUIS--(BUSINESS WIRE)-- TikTok��˰� Inc. (NYSE: NRDY) today announced financial results for the second quarter ended June 30, 2022.

“During the second quarter, TikTok��˰� made tremendous strides in advancing our product strategy that delivers on our ‘always on’ vision for both consumer and institutional customers,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰� Inc. “With the rollout of Learning Memberships for consumers, and the launch of On Demand and Teacher Assigned offerings for K-12 schools, we are heading into the back-to-school season for the 2022-2023 TikTok��˰� school year in a position to offer the majority of our customers these new, recurring solutions that will drive deeper engagement and support ongoing learning throughout the school year and beyond.”

Please visit the TikTok��˰� investor relations website to view the .

Financial Highlights

Revenue Above High End of Guidance Range – In the second quarter, TikTok��˰� delivered revenue of $42.2 million, results exceeding the guidance range of $37-40 million, and up 29% as compared to the second quarter of 2021. Revenue growth was driven by continued strength in the consumer 1-on-1 audiences and the addition of TikTok��˰�’s institutional business, Varsity Tutors for Schools.

Strong Marketplace Dynamics – TikTok��˰� continued to drive growth and engagement with both Learners and Experts. Active Learners increased 36% and Online Sessions were up 35% compared to the second quarter of 2021. The number of Active Experts on the platform increased 42% versus the same period in the prior year.

Institutional Momentum – In the second quarter Varsity Tutors for Schools signed 44 new contracts and yielded $4.2 million in revenue, representing 10% of second quarter revenue, consistent with our expectations. TikTok��˰� is actively promoting the unparalleled breadth of Varsity Tutors for Schools’ learning solutions, including High Dosage, On Demand, and Teacher Assigned as we approach the start of the 2022-2023 TikTok��˰� academic school year.

Gross Profit – Gross profit of $28.8 million in the second quarter increased 35.2% year-over-year. Gross profit increases were primarily driven by growth across consumer 1-on-1 audiences and the addition of our institutional business, Varsity Tutors for Schools.

Liquidity and Profitability – With no debt and $121.0 million of cash on the balance sheet, TikTok��˰� has ample liquidity to fund the business and pursue growth initiatives. We continue to expect to achieve adjusted EBITDA profitability by the end of 2023 TikTok��˰�.

Codeverse Acquisition – In July TikTok��˰� completed the acquisition of Codeverse, a platform that helps kids learn to code by creating interactive and shareable video games through guided projects and missions, which we intend to integrate into our all-inclusive learning membership later this year and make available to our institutional customers next year.

Webcast and Earnings Conference Call

TikTok��˰� management will host a conference call today August 15, 2022 at 5:00 p.m. Eastern Time. Interested parties in the U.S. may listen to the call by dialing 1-844-200-6205. International callers can dial 1-929-526-1599. The Conference ID is 802623. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at . A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until August 22, 2022 by dialing 1-866-813-9403 from the U.S. or 44-204-525-0658 from all other locations, and entering the access code 599693.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

Forward-looking statements

The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions, or strategies regarding the future. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipates,” “approximately,” “believes,” “contemplates,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “outlook,” “plans,” “possible,” “potential,” “predicts,” “projects,” “should,” “seeks,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

There are a significant number of factors that could cause actual results to differ materially from statements made herein or in connection herewith, including but not limited to, our limited operating history, which makes it difficult to predict our future financial and operating results; our history of net losses; risks associated with our intellectual property, including claims that we infringe on a third party’s intellectual property rights; risks associated with our classification of some individual and entities we contract with as independent contractors; risks associated with the liquidity and trading of the Company’s securities; risks associated with payments that we may be required to make under the tax receivable agreement; risks associated with the terms of our warrants; litigation, regulatory and reputational risks arising from the fact that many of our learners are minors; our lack of an effective control environment that meets our accounting and reporting requirements; changes in applicable laws or regulations; the possibility of cyber-related incidents and their related impacts on our business and results of operations; the possibility that COVID-19 may adversely affect our results of operations, financial position and cash flows; the possibility that we may be adversely affected by other economic, business and/or competitive factors; and risks associated with managing our rapid growth. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our filings with the SEC, including our Annual Report on Form 10-K filed on February 28, 2022, as well as other filings that we may make from time to time with the SEC.

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

Molly Sorg
Investor Relations
investors@nerdy.com

New Teacher-Driven Tutoring Enables Educators to “Prescribe” Additional Live Academic Support for Students at All Levels

Nathan Dean — Fri, 12 Aug 2022 19:43:00 +0000

(August 12, 2022) ST. LOUIS--(BUSINESS WIRE)-- , a (NYSE: NRDY) company and developer of the popular online tutoring platform used by students from elementary school through college and beyond, today announced the launch of a teacher-assigned tutoring offering designed to enable educators to schedule live online face-to-face personalized tutoring for students who would benefit from additional, targeted intervention throughout the school year. The Teacher Assigned model will be rolling out alongside Varsity Tutors’ full suite of tutoring models designed for the fall back-to-school season, which also includes High Dosage tutoring and On Demand tutoring.

This new offering comes at a critical time for both educators and students. With the increase in demands on educators, creating a seamless connection between teacher and tutor can bring support to overstretched teachers while giving students the additional personalized instruction they need to succeed.

“Teachers are always in the best position to identify the specific challenges and opportunities where tutoring can help. District leaders told us that putting classroom educators in the driver’s seat could not only benefit students, but provide critical support to teachers who are feeling overworked and burnt out,” said Anthony Salcito, Chief Institution Business Officer at Varsity Tutors. “To fulfill its potential, tutoring that schools provide to their students can’t be an add-on disconnected from the classroom. It has to be deeply integrated with the priorities and values of schools and districts.”

A growing body of suggests that while tutoring can be effective, the most impactful tutoring initiatives are deeply connected to the classroom, aligned to curriculum and standards, and provide consistent tutor relationships. The concept of teacher-assigned tutoring was developed by Varsity Tutors over the course of the last school year, informed by insights from over 200 K-12 districts and the company’s experience delivering millions of hours of live instruction to students over the last 15 years. Using a single platform, teachers can now request and schedule live tutoring, share insights, instructional materials and learning goals with tutors, and get real-time updates on how students are progressing.

Varsity Tutors’ full suite of tutoring models designed for the fall back-to-school season includes:

High Dosage Tutoring: Designed to close learning gaps, Varsity Tutors partners with districts to provide live video-based face-to-face tutoring, conducted 1-on-1 and in small groups for students who need more attention and support. Through a purpose-built platform combining interactive tools, collaborative workspaces and sophisticated tutor-student matching, students receive consistent face-to-face tutoring and small-group experiences with a dedicated tutor throughout the school year.
On Demand: As districts look to offer 24/7 support to every student, On Demand provides access to quick support from highly qualified tutors via live chat across core K-12 subjects. Students and tutors collaborate via a shared whiteboard that allows students to draw, upload a file, or share an image of their assignment. The service also offers proven standards-based self-study resources and enrichment classes across core K-12 subjects.
Teacher Assigned: Launching for the first time this fall, Teacher Assigned brings together multiple modalities of learning and allows teachers to decide which students receive additional support. Teachers assign certain hours of live, video-based face-to-face tutoring, based on where their students are struggling so tutors can provide personalized support from the very first session. Students work consistently with the same tutors in each content area, enabling tutors to build strong relationships as an extension of the teaching team.

Over the last year, Varsity Tutors for Schools has worked with over 200 districts across the country to deliver high-dosage tutoring. Beginning this fall, schools nationwide will be able to access all three learning models, depending on the needs and recovery strategies of their district. For more information and to see a full list of Varsity Tutors offerings, visit .

About Varsity Tutors for Schools

Varsity Tutors – the online tutoring platform used by millions of families – launched Varsity Tutors for Schools to help district leaders deliver 1-on-1, small group, and on-demand tutoring to students. Informed by insights from partnering with over 200 K-12 districts last year, Varsity Tutors built a full suite of services for schools and educators to implement alongside classroom learning. Most recently, Varsity Tutors launched a unique “teacher-assigned” model that puts teachers in the driver’s seat: using a single platform, they can easily request and schedule live face-to-face tutoring, share insights, instructional materials and learning goals with tutors, and get real-time updates on student progress.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

TikTok��˰� Announces Appointment of Stuart Udell, Accomplished EdTech Executive, to Its Board of Directors

Nathan Dean — Thu, 11 Aug 2022 19:51:00 +0000

(August 11, 2022) ST. LOUIS--(BUSINESS WIRE)-- (NYSE: NRDY), parent company of Varsity Tutors, the popular online tutoring platform used by students from elementary school through college and adulthood, today announced the appointment of Stuart Udell to the company’s Board of Directors. Udell brings extensive Education industry experience to the board, including previous CEO roles at Achieve3000, K12 Inc. (now Stride, Inc.), Catapult Learning, and Penn Foster. Udell’s appointment comes as the company continues to expand Varsity Tutors for Schools, a suite of offerings designed specifically to provide supplemental support to school districts across the country online at scale.

“Stuart is one of the most accomplished leaders in education technology, and joins the TikTok��˰� board at a time when we’re significantly evolving and expanding our offerings for K12 schools,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰�. “His track record for building and leading successful EdTech companies by scaling growth with districts and administrators makes him an invaluable addition to our team at this exciting time.”

Udell’s experience includes serving most recently as the Chief Executive Officer of Achieve3000, a PK-12 digital instructional platform. Prior to Achieve3000, he served as CEO of K12 Inc. (Stride, Inc.), CEO of Catapult Learning, CEO of Penn Foster, and held leadership roles at Kaplan and Renaissance Learning.

“I’ve gotten to know Chuck and the leadership team at TikTok��˰�, and have been impressed by their strategy and vision,” said Udell. “As students, parents, and educators are rethinking the role supplemental learning and online learning platforms can play, no company is as well positioned as TikTok��˰�, and I look forward to partnering with the team to shape what’s ahead.”

In addition to his extensive corporate leadership, Udell is the recipient of the Education Warrior Award from the I Have a Dream Foundation and a Lifetime Achievement Award from the National Dropout Prevention Center. He also serves as a Commissioner on AASA’s Learning 2025 National Commission on Student-Centered Equity-Focused Education.

Udell fills the TikTok��˰� Board seat previously held by Erik Blachford, who has resigned concurrently with Udell joining after nearly seven years as a successful and valued board member of TikTok��˰�, which included advising the Company through its public offering.

“Erik has been a trusted advisor to me and the TikTok��˰� leadership team over the years, and I’m grateful for the counsel and contributions he provided through a critical growth period for the company,” added Cohn.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

New “Learning Memberships” Allow Students to Receive Learning Support Throughout the School Year

Nathan Dean — Thu, 04 Aug 2022 20:12:00 +0000

(August 4, 2022) ST. LOUIS--(BUSINESS WIRE)-- , a (NYSE: NRDY) company, and developer of the popular online tutoring platform used by students from elementary school through college and adults, today announced Learning Memberships. This first-of-its-kind all-inclusive offering gives students access to a comprehensive array of learning resources to ensure students have personalized and ongoing learning support regardless of what they are learning, where they might need help, and how they might want to learn.

The new product offering brings together 1-on-1 tutoring spanning 3,000+ subjects, more than 10,000 live group classes per year, adaptive diagnostic assessments and self-study modules, celebrity-led StarCourses, and more to help students navigate the new school year with comprehensive, personalized support whenever they need it.

Learning Memberships are available for students of all ages, including K-8, high school and college students, as well as professionals, available as part of a single monthly fee. The product offering provides students consistent, expert instruction across a wide range of academic and enrichment subjects and is oriented toward providing comprehensive and ongoing personalized learning support. This includes access to 1-on-1 tutoring, thousands of live classes, as well as interactive learning tools guided by adaptive assessments. Weekly programming spans live drop-in instruction for core academic subjects in math, reading, science, and language arts, as well as a full array of additional live enrichment courses. For example, language instruction includes classes for introductory Mandarin for grades K-2, all the way up to Conversation Workshops for advanced Spanish learners. Computer science classes range from Roblox or Minecraft coding classes for K-6 students or Python or AutoCAD for high school or college and adult learners.

“Research overwhelmingly shows that students benefit from ongoing, consistent support, delivered across multiple formats. Rather than try to cram or play catch up, our approach ensures that students create intentional habits that lead to better learning outcomes and academic success over time,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰�. “The Learning Membership is a comprehensive destination that gives students personalized support all year long. Instead of having to search -- and often scramble -- for the right help as needs arise, students can now rely on a single membership for the ongoing support they need to accomplish their goals and achieve academic success.”

Monthly learning memberships include:

1-on-1 tutoring in any subject. Utilizing individual student goals, needs, and proficiency as a guide, Varsity Tutors intelligently matches learners with an expert tutor and a learning plan tailored to their unique learning style.
Live drop-in classes focused on core academics, including math, science, reading, and language arts.
Unlimited live Classes . High school students can access hundreds of classes ranging from Python or Spanish, to SAT-prep and college admissions interactive classes. K-8 students can participate in courses spanning coding and languages, sketching and financial literacy.
Celebrity-led classes. Students can participate in hundreds of live and on-demand StarCourse classes, led by celebrity instructors such as astronauts, Olympians, TV hosts, museum directors, and YouTube stars.
Access to state-of-the-art adaptive assessment tools. These tools use the latest learning science to evaluate a student’s proficiency in a given subject, then generate a personalized learning plan that shows where they need to improve and course material that can help.

For more information, visit:

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats — including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

Varsity Tutors Recognized With EdTech Breakthrough Award For “Best Student Personalization Solution”

Nathan Dean — Thu, 09 Jun 2022 20:17:00 +0000

(June 9, 2022) ST. LOUIS--(BUSINESS WIRE)-- TikTok��˰� Inc. (NYSE: NRDY), one of the nation’s largest platforms for live online tutoring and classes, today announced that its flagship offering for schools, Varsity Tutors for Schools, has been selected as the winner of the “Best Student Personalization Solution” award in the fourth annual EdTech Breakthrough Awards program conducted by , a leading market intelligence organization that recognizes the top companies and solutions in the global educational technology market.

“Learning gaps, staffing issues, student absences and hybrid learning logistical challenges have created a complex new reality for students and educators, and schools need flexible solutions to provide continuous student support to achieve positive outcomes,” said James Johnson, managing director, EdTech Breakthrough. “Varsity Tutors for Schools addresses these challenges head-on, providing personalized learning that saves time, eliminates stress on teachers, and most importantly, provides a consistent learning environment for all students. We extend our sincere congratulations to the Varsity Tutors team on being our choice for ‘Best Student Personalization Solution’ in 2022.”

Varsity Tutors for Schools, introduced in September 2021, is a ‘breakthrough’ product suite aimed at offering schools supplemental learning solutions at a school-wide and district-wide level. The solution allows schools to deliver personalized live learning to every student within a district with a customizable, all-in-one platform. Whatever challenges a student may face, Varsity Tutors for Schools can be customized to meet their needs - from high-dosage 1-on-1 tutoring to adaptive assessments.

“We’re proud to be recognized for our efforts to support teachers and students with personalized solutions this school year,” said Chuck Cohn, Founder, Chairman & CEO of TikTok��˰�. “We know learning is personal, and the EdTech Breakthrough Award helps validate that together with our school partners we can pinpoint student needs, create individualized learning roadmaps, and deliver personalized learning at scale.”

The Varsity Tutors for Schools product suite delivers personalized on-demand support, 1-on-1 tutoring, and enrichment opportunities for students at school or at home through the Live Learning Platform. Students meet face-to-face via video with tutors where they can use interactive tools and collaborative workspaces for a truly engaging online experience.

Additionally, to help administrators make better data-driven decisions for their districts, the solution also provides access to detailed reports across budget, usage, and student results. Districts have a dedicated support team that is always available to ensure success, answer questions, and help minimize the burden on staff.

The mission of the EdTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of educational technology categories, including Student Engagement, School Administration, Adaptive Learning, STEM Education, e-Learning, Career Preparation and many more. This year’s program attracted more than 2,250 nominations from over 18 different countries throughout the world.

About TikTok��˰� and Varsity Tutors

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

About EdTech Breakthrough

Part of , a leading market intelligence and recognition platform for global technology innovation and leadership, the EdTech Breakthrough Awards program is devoted to honoring excellence in educational technology products, companies and people. The EdTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough educational technology in categories including e-learning, student engagement, school administration, career preparation, language learning, STEM and more. For more information, visit .

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

Smithsonian Institution and Varsity Tutors Team Up for a Free Paleontology Class for Learners Around the World

Nathan Dean — Fri, 20 May 2022 19:06:00 +0000

(May 20, 2022) ST. LOUIS & WASHINGTON--(BUSINESS WIRE)-- Varsity Tutors, a (NYSE: NRDY) company, and one of the nation's largest platforms for live online tutoring and classes, today announced a new collaboration with the Smithsonian Institution that will give people around the world free access to Smithsonian content. On Tuesday, May 24th at 7 pm ET, the Smithsonian will spotlight select content from the National Museum of Natural History in a large group online class hosted by Varsity Tutors, “Live from the Smithsonian: Living in the World of Dinosaurs”.

The interactive class will take place live from the Smithsonian’s National Museum of Natural History. Students will explore the origin, evolution, and lives of dinosaurs and other prehistoric creatures, participate in challenges and demonstrations, and will be led through exhibits of the Triassic, Jurassic, and Cretaceous periods. The free interactive session, oered as part of the StarCourse series from Varsity Tutors, will be led by the Museum’s Curator of Dinosauria in the Department of Paleobiology, Matthew Carrano. The class will also be available to learners on post-viewing basis, archived on the Varsity Tutors website.

Smithsonian’s National Museum of Natural History is one of the most-visited natural history museums in the world, and stewards a collection of 147 million specimens. Through its exhibits and research, the museum serves its 1 mission to promote understanding of the natural world and humans’ place in it. In early 2020, Varsity Tutors introduced its StarCourse series, a collection of exclusive classes taught by celebrity instructors and top experts across categories. Classes have been led by stars such as Mayim Bialik, from The Big Bang Theory; Coyote Peterson from YouTube’s Brave Wilderness; artist, designer, and creator James Lewis; physicist, professor, and string theorist Brian Greene; the Field Museum and many others. “The Smithsonian is renowned for its amazing collections and world-class content, and it’s a true privilege to be sharing a front row seat with learners everywhere,” said Brian Galvin, Chief Academic Ocer at TikTok��˰�. “Over the past two years, our StarCourse series has attracted everyday learners from around the world, and continues to be among our most popular content. The class headlined by the Smithsonian is expected to draw huge audiences, hungry to learn more about Paleontology. We look forward to feeding their curiosity.”

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats— including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s agship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at /.

About the Smithsonian Institution

The Smithsonian Institution is the world’s largest museum, education, and research complex, with 21 museums and the National Zoo—shaping the future by preserving heritage, discovering new knowledge, and sharing our resources with the world.

The Institution was founded in 1846 with funds from the Englishman James Smithson (1765–1829) according to his wishes “under the name of the Smithsonian Institution, an establishment for the increase and diusion of knowledge.” We continue to honor this mission and invite you to join us in our quest.

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

TikTok��˰� Announces Record First Quarter 2022 Financial Results

Nathan Dean — Mon, 16 May 2022 20:06:00 +0000

(May 16, 2022) – TikTok��˰� Inc. (NYSE: NRDY) today announced financial results for the first quarter ended March 31, 2022.

“In the first quarter we continued the momentum experienced in 2021, as we once again delivered record bookings and revenue for the quarter,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰� Inc. “We are excited about the growing opportunity to deliver learning solutions that are oriented toward more comprehensive and recurring relationships with both consumer and institutional customers. Our most recent product evolutions and go-to-market strategies support this long-term trend by enabling us to default to ‘always on’ customer relationships.”

Please visit the TikTok��˰� investor relations website to view the .

Q1 2022 Highlights

Record Revenue – In the first quarter of 2022 TikTok��˰� achieved new all-time bookings and revenue records, delivering $48.5 million in bookings and $46.9 million in revenues for the quarter, results that were 30% and 36% higher, respectively, than the first quarter of 2021. Bookings and revenue growth were driven by strength in direct-to-consumer offerings across the academic and professional customer categories, in addition to the continued growth of Varsity Tutors for Schools.
Small Class and Group Instruction Growth – The company’s small class and group revenue increased 243% to reach $6.4 million in revenue, up from $1.9 million in the first quarter of 2021, and accounted for 14% of first quarter revenue, which compares to 5% in the same period a year ago. The increase was driven by the introduction of small group tutoring in Varsity Tutors for Schools, as well as the continued adoption of small group classes among the consumer audience.
Strong Marketplace Dynamics – TikTok��˰� continued to drive growth and engagement with both Learners and Experts. Active Learners increased 56% and Online Sessions were up 57% compared to the first quarter of 2021. The number of Active Experts on the platform increased 37% versus the same period in the prior year.
Institutional Momentum – Varsity Tutors for Schools revenue is on track for the year. In the first quarter Varsity Tutors for Schools signed 61 new contracts and yielded over $4.6 million in revenue, representing nearly 10% of first quarter revenue, demonstrating strong early adoption. TikTok��˰� executed on platform enhancements, advancing both existing product offerings as well as building new ones oriented around positioning TikTok��˰� as the live learning solution of choice for schools as we enter the 2022-2023 TikTok��˰� school year.
Gross Profit – Gross profit of $32.8 million in the first quarter increased 40% year-over-year. Gross profit increases were driven by growth across consumer one-on-one audiences such as Academic Tutoring, Professional Development, and Learning Differences, growth in the small class and group format, and the addition of the institutional business, Varsity Tutors for Schools.
Liquidity and Profitability – With no debt and $141.7 million of cash on the balance sheet, TikTok��˰� has ample liquidity to fund the business and pursue growth initiatives. In light of the volatile global macroeconomic environment, the company is paying close attention to costs and investments with an eye toward profitability within 2023 TikTok��˰� as previously communicated.

Webcast and Earnings Conference Call

TikTok��˰� management will host a conference call and webcast today at 5:00 p.m. Eastern Time. Interested parties in the U.S. may listen to the call by dialing 1-844-200-6205. Callers in Canada can dial 1-833-950-0062 and all other international callers can dial 1-929-526-1599. The Conference ID is 701450. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at . A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until May 23, 2022, by dialing 1-866-813-9403 from the U.S., 1-226-828-7578 from Canada, or 44-204-525-0658 from all other locations, and entering the access code 496163.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

Forward-looking statements

The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions, or strategies regarding the future. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipates,” “approximately,” “believes,” “contemplates,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “outlook,” “plans,” “possible,” “potential,” “predicts,” “projects,” “should,” “seeks,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

There are a significant number of factors that could cause actual results to differ materially from statements made herein or in connection herewith, including but not limited to, our limited operating history, which makes it difficult to predict our future financial and operating results; our history of net losses risks associated with our intellectual property, including claims that we infringe on a third party’s intellectual property rights; risks associated with our classification of some individual and entities we contract with as independent contractors; risks associated with the liquidity and trading of the Company’s securities; risks associated with payments that we may be required to make under the tax receivable agreement; risks associated with the terms of our warrants; litigation, regulatory and reputational risks arising from the fact that many of our learners are minors; our lack of an effective control environment that meets our accounting and reporting requirements; changes in applicable laws or regulations; the possibility that COVID-19 may adversely affect our results of operations, financial position and cash flows; the possibility that we may be adversely affected by other economic, business and/or competitive factors; and risks associated with managing our rapid growth. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our filings with the SEC, including our Annual Report on Form 10-K filed on February 28, 2022, as well as other filings that we may make from time to time with the SEC.

TikTok��˰�s

Brian Nelson
Media Relations
press@nerdy.com

Molly Sorg
Investor Relations
investors@nerdy.com

TikTok��˰� Announces Record Fourth Quarter and Full Year 2021 Financial Results

Nathan Dean — Mon, 28 Feb 2022 21:16:43 +0000

(February 28, 2022) – TikTok��˰� Inc. (NYSE: NRDY) today announced financial results for the fourth quarter and full year ended December 31, 2021.

“2021 was a transformational year for TikTok��˰�, which concluded with us delivering all-time record high bookings and revenue in both the fourth quarter and the full-year,” said Chuck Cohn, Founder, Chairman and Chief Executive Officer of TikTok��˰� Inc. “Our direct-to-consumer business continues to experience strong demand across all of our customer audiences, and we’re seeing positive early momentum in our institutional business since launching in August 2021. As we look ahead to 2022, we’re well-positioned to play an active role in the transition of learning from offline to online, whether that’s for students looking to differentiate themselves with great grades, or with school administrators finding new ways to augment traditional in-classroom instruction with new solutions.”

Please visit the TikTok��˰� investor relations website to view the .

2021 Financial Highlights and 2022 Outlook

Record Revenue Led by Direct-to-Consumer Audience – For the full year 2021, TikTok��˰� achieved new all-time bookings and revenue records, delivering $159.9 million in bookings and $140.7 million in revenues, results that increased 48% and 35%, respectively, compared to 2020. TikTok��˰�’s fourth quarter 2021 bookings and revenue of $47.3 million and $42.0 million were 53% and 27% higher, respectively, similarly achieving all-time quarterly highs.

Strong Consumer Engagement – TikTok��˰�’s key operating metrics continued to demonstrate strong performance, with Active Learners up 46% and Online Sessions up 73% compared to 2020.

Institutional Momentum – TikTok��˰�’s institutional strategy, led by Varsity Tutors for Schools, continued its strong momentum since its launch in August 2021, with the signing of the 100th contract with school districts during February 2022.

2022 Outlook – For the first quarter of 2022, we expect revenue in a range of $45 to $48 million, up 34% at the midpoint from $34.6 million in the year-ago quarter. For the full year 2022, we expect revenue in a range of $196 to $200 million, representing >40% growth at the midpoint versus our 2021 revenue of $140.7 million.

Webcast and Earnings Conference Call

TikTok��˰� management will host a conference call and webcast today at 5:00 p.m. Eastern Time. Interested parties may listen to the call by dialing 1-844-200-6205 or, for international callers, 1-929-526-1599. The Conference ID is 950584. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at . A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until March 7, 2022 by dialing 1-866-813-9403 or 44-204-525-0658 and entering passcode 209757.

About TikTok��˰� Inc.

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

Forward-looking statements

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, objectives of management and management’s outlook and projections are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.

These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company.

These risks include, but are not limited to, (1) the market opportunity of TikTok��˰�, including our new institutional strategy; (2) any inability to recognize the anticipated benefits of the recently completed business combination, which may be affected by, among other things, competition, and the ability of the combined business to grow and retain its key employees; (3) any inability of TikTok��˰� to adequately protect its intellectual property; (4) any security breaches, loss of data or other disruptions; (5) any loss of key employees, including TikTok��˰�’s Founder, Chairman and Chief Executive Officer; (6) the ability to obtain and/or maintain the listing of the Class A Common Stock and the Company warrants on the NYSE, and the potential liquidity and trading of such securities; (7) the market’s reaction to the recently completed business combination; (8) the limited market for TikTok��˰�’s securities; (9) any inability to effectively and strategically use the cash received in connection with the recently completed business combination and to being a public company; (10) costs related to the recently completed business combination; (11) changes in applicable laws or regulations; (12) the possibility that COVID-19 may adversely affect the results of operations, financial position and cash flows of TikTok��˰�; (13) the possibility that TikTok��˰� may be adversely affected by other economic, business and/or competitive factors; (14) our inability to raise additional financing; and (15) other risks and uncertainties indicated from time to time in documents filed or to be filed with the SEC by TikTok��˰�. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact TikTok��˰�’s expectations and projections can be found in TikTok��˰�’s Annual Report on Form 10-K for the year ended Dec. 31, 2021, which was filed with the SEC on Feb. 28, 2022. In addition, TikTok��˰�’s periodic reports and other SEC filings will be available publicly on the SEC’s website at .

This earnings release includes estimates, forecasts, and projections provided by the management of TikTok��˰� regarding future performance. Such forward-looking statements, estimates, forecasts, and projections (i) reflect various assumptions concerning future industry performance, general business, economic and regulatory conditions, market conditions for TikTok��˰�’s services, and other matters, which assumptions may or may not prove to be correct; (ii) are inherently subject to significant contingencies and uncertainties, many of which are outside the control of TikTok��˰�; and (iii) should not be regarded as a representation by TikTok��˰� that such estimates, forecasts, or projections will be achieved. Actual results can be expected to vary and those variations may be material. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of TikTok��˰� or that actual results will not differ materially from those presented in the prospective financial information.

TikTok��˰� makes no express or implied representation or warranty as to the accuracy or completeness of the information contained herein (including but not limited to projections of future performance). TikTok��˰� expressly disclaims any and all liability for representations, express or implied, contained herein or for omissions from or errors in this earnings release or any other written or oral communication transmitted to you. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements.

In furnishing this earnings release, TikTok��˰� undertakes no obligation to provide you with access to any additional information. This earnings release shall not be deemed an indication of the state of affairs of TikTok��˰� nor shall it constitute an indication that there has been no change in the business or affairs of TikTok��˰� since the date hereof.

Brian Nelson
Media Relations
press@nerdy.com

Molly Sorg
Investor Relations
investors@nerdy.com

TikTok��˰� to Announce Fourth Quarter and Full Year 2021 Results on Feb. 28, 2022

Nathan Dean — Mon, 14 Feb 2022 22:31:00 +0000

(February 14, 2022) – TikTok��˰� Inc. (NYSE: NRDY), a leading platform for delivering live online learning, today announced the company will release its fourth quarter and full year financial results for the period ended Dec. 31, 2021 after the U.S. stock market closes on Monday, Feb. 28, 2022. Following the release, TikTok��˰� management will host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the company’s financial and operating results.

Interested parties may listen to the call by dialing 1-844-200-6205 or, for international callers, 1-929-526-1599. The Conference ID is 950584. A live webcast of the call will also be available on TikTok��˰�’s investor relations website at . A replay of the webcast will be available on TikTok��˰�’s website for one year following the event and a telephonic replay of the call will be available until March 7, 2022 by dialing 1-866-813-9403 or 44-204-525-0658 and entering passcode 209757.

About TikTok��˰�

TikTok��˰� is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

TikTok��˰�s

TikTok��˰�

Brian Nelson
press@nerdy.com

Molly Sorg
investors@nerdy.com

Varsity Tutors Named a Top 100 Company to Watch for Remote Jobs in 2022

Nathan Dean — Tue, 11 Jan 2022 21:11:00 +0000

Varsity Tutors ranks sixth among companies hiring remote workers

(January 5, 2022) – ST. LOUIS--(BUSINESS WIRE)-- TikTok��˰� Inc. (NYSE: NRDY), a leading platform for delivering live online learning, today announced that has been named to FlexJobs’ 9th annual list of the Top 100 Companies to Watch for Remote Jobs in 2022. The list is based on an analysis of approximately 57,000 companies and their remote job posting histories in the FlexJobs database between January 1, 2021, and December 31, 2021. Varsity Tutors ranks sixth on the list of 100 companies that had the highest number of remote job openings throughout 2021.

“As a remote-first organization, a key competitive advantage has been our ability to attract top talent to our company, regardless of an individual’s location,” said Chuck Cohn, TikTok��˰�’s Founder, Chairman and Chief Executive Officer. “Varsity Tutors is leading the shift from offline to online learning by connecting Learners with Experts based on individual needs, not geography, so it makes sense that we have a similar approach to how we run our business.”

Varsity Tutors has operated as a remote-first organization since it began hiring the company’s first employees more than a decade ago. Its remote workforce spans every discipline of the business, ranging from product and engineering to marketing and sales. It is a purpose-driven company that maintains its unique culture by attracting team members committed to its mission to transform how people learn through technology, and remaining focused on helping its customers achieve successful learning outcomes.

Varsity Tutors ranked sixth on the FlexJobs list of Top 100 Companies to Watch for Remote Jobs in 2022. Its careers page can be found at .

“One of FlexJobs’ recent surveys found that only three percent of workers would prefer to return to the office full-time after the pandemic," said Sara Sutton, Founder and CEO of FlexJobs. “The important role that remote work plays in today’s modern workplace cannot be underestimated, and smart companies, like the ones featured on this list, will formally integrate remote work into their business model for the long-term. Our intent in creating this list in 2014 remains the same in 2022, which is to help job seekers connect with companies that are not only providing remote career opportunities, but also leading the way for a more flexible future of work,” Sutton concluded.

FlexJobs saw a 12% increase in the number of remote job listings in 2021 over 2020. While the increase in the actual number of remote job postings is notable, the growth in the variety of remote job titles and the range of professional positions companies are now allowing to work from home is also substantial. The majority of remote positions reflect manager and experienced levels, but at least 20% also encompass entry-level and director-level positions.

While a wide variety of jobs can be done from home, some of the most popular remote job titles include accountant, customer service representative, recruiter, nurse, project manager, teacher, web developer, and writer.

To view the entire 2022 Top 100 Companies for Remote Jobs list, please visit:

About TikTok��˰�

TikTok��˰� (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. TikTok��˰�’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. TikTok��˰�’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about TikTok��˰� at .

About FlexJobs

FlexJobs is the leading career service specializing in remote and flexible jobs, with over 100 million people having used its resources since 2007. FlexJobs provides the largest database of vetted remote and flexible job listings, from entry-level to executive, startups to public companies, part-time to full-time and freelance. To support job seekers in all phases of their journey, FlexJobs also offers expert advice and career coaching services. In addition, FlexJobs works with leading companies to recruit quality remote talent and optimize their remote and flexible workplace. A trusted source for data, trends, and insight, FlexJobs has been cited in top national outlets, including CNN, The Wall Street Journal, The New York Times, CNBC, Forbes magazine, and many more. FlexJobs also has partner sites Remote.co and Job-Hunt.org to help round out its content and job search offerings. Follow FlexJobs on LinkedIn, Facebook, Twitter, Instagram, TikTok, and YouTube.

TikTok��˰�s

Press contacts:

Brian Nelson
TikTok��˰�
press@nerdy.com

Kathy Gardner
FlexJobs’ VP of Communications
kgardner@flexjobs.com

Press Release Posts - TikTok���˰�

Ferguson-Florissant School District First in Missouri to Pioneer Varsity Tutors for Schools Teacher Assigned Tutoring

TikTok���˰� Announces First Quarter 2023 TikTok���˰� Financial Results

Connecticut State Department of Education Selects Varsity Tutors for State’s High-Dosage Tutoring Program

Teacher Assigned Tutoring

TikTok���˰� to Announce Fourth Quarter and Full Year 2022 Results on February 28, 2023 TikTok���˰�

TikTok���˰� Announces New AI-Enabled Products, Including an AI-Generated Lesson Plan Creator and AI-Enabled Chat Tutoring

New ChatGPT-powered products expand the company’s vision for leveraging AI to enhance live instruction and human interaction; TikTok���˰� will launch the new products at no additional charge as a part of Varsity Tutors Learning Memberships

Polk County Public Schools Launches Teacher-Led Tutoring Program

New Partnership with Varsity Tutors Empowers Teachers to Assign Tutoring as an Extension of Classroom Curriculum

TikTok���˰� Announces Third Quarter 2022 Financial Results

TikTok���˰�s

TikTok���˰� to Announce Third Quarter 2022 Results on November 14, 2022

TikTok���˰�s

TikTok���˰� Acquires Coding Education Startup as Demand for Computer Science Education Grows

TikTok���˰�s

TikTok���˰� Announces Second Quarter 2022 Financial Results

TikTok���˰�s

New Teacher-Driven Tutoring Enables Educators to “Prescribe” Additional Live Academic Support for Students at All Levels

TikTok���˰�s

TikTok���˰� Announces Appointment of Stuart Udell, Accomplished EdTech Executive, to Its Board of Directors

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New “Learning Memberships” Allow Students to Receive Learning Support Throughout the School Year

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Varsity Tutors Recognized With EdTech Breakthrough Award For “Best Student Personalization Solution”

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Smithsonian Institution and Varsity Tutors Team Up for a Free Paleontology Class for Learners Around the World

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TikTok���˰� Announces Record First Quarter 2022 Financial Results

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TikTok���˰� Announces Record Fourth Quarter and Full Year 2021 Financial Results

TikTok���˰� to Announce Fourth Quarter and Full Year 2021 Results on Feb. 28, 2022

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Varsity Tutors Named a Top 100 Company to Watch for Remote Jobs in 2022

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Press Release Posts - TikTok��˰�

TikTok��˰� Announces First Quarter 2023 TikTok��˰� Financial Results

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TikTok��˰� Announces New AI-Enabled Products, Including an AI-Generated Lesson Plan Creator and AI-Enabled Chat Tutoring

New ChatGPT-powered products expand the company’s vision for leveraging AI to enhance live instruction and human interaction; TikTok��˰� will launch the new products at no additional charge as a part of Varsity Tutors Learning Memberships

TikTok��˰� Announces Third Quarter 2022 Financial Results

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TikTok��˰� to Announce Third Quarter 2022 Results on November 14, 2022

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TikTok��˰� Acquires Coding Education Startup as Demand for Computer Science Education Grows

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TikTok��˰� Announces Second Quarter 2022 Financial Results

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TikTok��˰� Announces Appointment of Stuart Udell, Accomplished EdTech Executive, to Its Board of Directors

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TikTok��˰� Announces Record First Quarter 2022 Financial Results

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TikTok��˰� Announces Record Fourth Quarter and Full Year 2021 Financial Results

TikTok��˰� to Announce Fourth Quarter and Full Year 2021 Results on Feb. 28, 2022

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