Latest news with #KinderCare
Yahoo
an hour ago
- Health
- Yahoo
Cypress parent speaks out after daughter allegedly bullied and exploited at daycare
The Brief A Cypress mother claims her daughter was bullied and coerced into taking explicit photos at a daycare, leading to an investigation after the images were shared on Snapchat. Attorney Tasha Ricks asserts that KinderCare is responsible for the incident, while KinderCare's internal investigation found no fault with their staff. The Harris County Sheriff's Office is actively investigating the case. CYPRESS, Texas - A Cypress mother is speaking out after discovering her daughter was allegedly bullied and coerced into taking explicit photos at a local daycare. The incident has sparked an investigation, leaving the parent shocked and concerned. What they're saying Tenesha Whitfield, a concerned parent, expressed her dismay after learning that explicit photos of her daughter were being shared and sold on Snapchat. Her daughter, who was 7-years-old at the time, was one of three minors involved, alongside two others aged nine and eleven. "It's disheartening. Disappointing. It also gives me a feeling of disgust that a person would do this, especially with children," Whitfield said. Whitfield explained that investigators found the photos circulating on Snapchat, leading to an active investigation. "Very shocking. I was confused and it made me anxious. I was calm enough to hear what they had to say. I didn't take it very lightly," she added. Whitfield shared her daughter's emotional struggle, saying, "She thought she was the one in the wrong. After thoroughly explaining to her what took place, I had to let her know you were victimized. I feel like my daughter was handpicked because my daughter is very sweet. She's non-confrontational. And she lacks in the self-defense department, so I know she's not going to stir up anything or put herself in a predicament." Attorney Tasha Ricks stated, "As I understand it, there is a pending criminal investigation against the adult who solicited the photos." When asked about accountability, Ricks pointed to KinderCare, saying, "KinderCare because they had full possession of our client's child at the time the incident occurred. They also were the first reporting agency." The other side FOX 26 reached out to KinderCare, which stated that their internal investigation found no fault with their staff regarding the incident. "Nothing is more important to us than the health and safety of children in our care. As soon as we were made aware of these concerns in June 2023, we immediately self-reported to state licensing, Child Protective Services, and local law enforcement. We also conducted our own internal investigation. State licensing informed us in July 2023 that their investigation found nothing to support any claims that a lack of supervision led to this incident." What's next The Harris County Sheriff's Office is actively investigating the case. The Source FOX 26's Jonathan Mejia spoke with the victim's mother, Tenesha Whitfield, the attorney representing the family, Tasha Ricks, and confirmed with the HCSO that there is an investigation. KinderCare sent FOX 26 a statement.
Business Wire
6 days ago
- Business
- Business Wire
KinderCare to Participate in Upcoming Investor Conferences
LAKE OSWEGO, Ore.--(BUSINESS WIRE)--KinderCare Learning Companies, Inc. (NYSE: KLC) ('KinderCare'), a leading provider of high-quality early childhood education ('ECE'), today announced that Paul Thompson, Chief Executive Officer, and Tony Amandi, Chief Financial Officer, will participate in the following upcoming investor conferences: Baird 2025 Global Consumer, Technology & Services Conference – On Wednesday, June 4, management will participate in a fireside chat beginning at approximately 1:25pm ET. Please contact Baird for attendance information and additional details. Management will also be available for 1x1 and small group investor meetings on both June 3 and June 4. UBS SMID-Cap Multisector Virtual Conference – On Tuesday, June 24, management will be available for virtual 1x1 and small group investor meetings. Ahead of the Baird conference, KinderCare will publish its latest Investor Presentation to the Events & Presentations page of the investor relations website at About KinderCare Learning Companies™ A leading private provider of early childhood and school-age education and care, KinderCare builds confidence for life in children and families from all backgrounds. KinderCare supports hardworking families in 41 states and the District of Columbia with differentiated flexible child care solutions: In neighborhoods, with KinderCare® Learning Centers that offer early learning programs for children six weeks to 12 years old; Crème School®, which offers a premium early education experience using a variety of enrichment classrooms; and In local schools, with Champions® before and after-school programs. KinderCare partners with employers nationwide to address the child care needs of today's dynamic workforce. We provide customized family care benefits for organizations, including care for young children on or near the site where their parents work, tuition benefits, and backup care where KinderCare programs are located. Headquartered in Lake Oswego, Oregon, KinderCare operates more than 2,500 early learning centers and sites.
CNBC
24-05-2025
- Business
- CNBC
Goldman Sachs says buy these five stocks that are set to pop
Goldman Sachs revealed recently several buy-rated stocks that analysts at the investment bank say are set to rise. The Wall Street firm says these companies are resilient and that investors should quickly buy them. CNBC Pro combed through Goldman Sachs research to find five stocks that it says have more upside. They include: Microsoft , KinderCare, Lyft, Woodward and Diamondback. KinderCare Buy the dip in shares of the early childhood learning company, according to analyst George Tong While KinderCare's most recent earnings report was mixed, Goldman is doubliing down on the stock. "While sales cycles have elongated, the company noted healthy growth in parental inquiries, communications and tours, which create a healthy pipeline that can convert during the seasonally strong summer months," Tong wrote. The bank also says it's optimistic that there will be no changes in President Trump's budget outline, which is a positive for the Child Care and Development Block Grant that assists low-income families. This in turn should help KinderCare revenue growth, Tong added. With shares down more than 34% this year, Tong urged clients to quickly accumulate shares. "KinderCare's business model is resilient in an uncertain macro environment given child care services are essential, with broader demand outpacing supply," he went on to say. Diamondback Energy The energy and natural gas company is firing on all cylinders, Goldman wrote recently. Analyst Neil Mehta sees a compelling entry point as shares are down about 17% this year. "As an industry cost-leader, FANG's execution strength can continue to drive capital efficiency improvements over time in our view," he wrote. Mehta likes Diamondback's robust free-cash flow and understands shareholders have concerns about the price of oil. "Investors also highlight risks associated with waiting for a more constructive near- to medium-term oil price to add barrels given timing the market can be challenging," he said. Still, Goldman is sticking with the stock. "We reiterate our Buy rating on FANG and remain constructive on FANG's consistency of execution strength following strong operating and financial results in 1Q25," the bank said. Woodward The aerospace and defense company is seeing robust demand, analyst Noah Poponak wrote, citing several catalysts ahead. Poponak recently held a series of meetings with Woodward's investor relations team and came away feeling even more bullish about the stock. "Aerospace aftermarket fundamentals are strong, including units, price and pent-up demand," the analyst wrote. Further, Poponak says military spending growth remains robust and aerospace manufacturing is picking up. "Industrial indicators are solid, including high levels of power demand," he added. The bank has a Street high, 12-month price target of $229 on the stock, and Woodward remains a top pick and is on Goldman's prestigious conviction buy list. "Multiple growth and margin drivers across the business," Poponak added. Woodward shares are up 25% this year. KinderCare "While sales cycles have elongated, the company noted healthy growth in parental inquiries, communications and tours, which create a healthy pipeline that can convert during the seasonally strong summer months. ... .KinderCare's business model is resilient in an uncertain macro environment given child care services are essential, with broader demand outpacing supply." Lyft "Strong Execution in a Stable Industry Backdrop. ... .While short-term debates will likely stay rooted in industry trends around rideshare pricing, market share fluctuations, positioning against the [autonomous vehicle] theme and/or any changes in consumer discretionary behavior, we believe that shares are dislocated from LYFT's earnings power in the next 2-3 years and upgrade the stock to Buy." Read more about this call here. Diamondback Energy "As an industry cost-leader, FANG's execution strength can continue to drive capital efficiency improvements over time in our view. ... .Investors also highlight risks associated with waiting for a more constructive near- to medium-term oil price to add barrels given timing market can be challenging ... We reiterate our Buy rating on FANG & remain constructive on FANG's consistency of execution strength following strong operating & financial results in 1Q25." Microsoft "With a strong presence across all layers of the cloud stack, including applications, platforms & infrastructure, MSFT is well-positioned, in our view, to capitalize on a number of long-term secular trends, such as Gen-AI, public cloud consumption, SaaS adoption, digital transformation, AI/ML, BI/analytics, & DevOps." Read more about this call here. Woodward "Multiple growth and margin drivers across the business ... Aerospace aftermarket fundamentals are strong, including units, price and pent-up demand ... Aerospace OE is starting to improve. Defense growth is solid, and [joint direct attack munition] is unique for WWD. Industrial indicators are solid, including high levels of power demand."
Yahoo
13-05-2025
- Business
- Yahoo
KinderCare Reports First Quarter 2025 Financial Results
First Quarter Highlighted by Increased Revenue, Net Income Growth, Portfolio Expansion, and Continued Strong Adjusted EBITDA Generation. Reiterates 2025 Guidance. LAKE OSWEGO, Ore., May 13, 2025--(BUSINESS WIRE)--KinderCare Learning Companies, Inc. (NYSE: KLC) ("KinderCare," the "Company," and "we"), a leading provider of high-quality early childhood education ("ECE"), today announced financial results for the first quarter ended March 29, 2025. First Quarter 2025 Highlights Revenue of $668.2 million Income from operations of $48.8 million Net income of $21.2 million and net income per common share, diluted of $0.18 Non-GAAP financial measures Adjusted EBITDA (1) of $83.6 million Adjusted net income (1) of $27.0 million and adjusted net income per common share, diluted (1) of $0.23 "Our first quarter's results came in as anticipated, with moderate growth in revenue but our operating execution drove stronger net income and adjusted EBITDA growth year over year," said Paul Thompson, KinderCare's Chief Executive Officer. "In a quarter with delayed enrollment decisioning across the industry, KinderCare performed well. As we move forward in 2025, we will continue to drive operating leverage and advance our growth initiatives to drive performance in future quarters." Mr. Thompson continued, "We grew our footprint during the quarter by expanding into Idaho, our 41st state. We opened new centers for Crème School and expanded partnerships with employers within our existing markets. I'm proud of our team's ability to execute against our promise of bringing high quality early childhood education and care to even more hardworking families across the country." First Quarter 2025 Financial Results Total revenue increased $13.6 million, or 2.1%, to $668.2 million for the first quarter of 2025 as compared to $654.7 million for the first quarter of 2024. Revenue from early childhood education centers increased by $9.7 million, or 1.6%, for the first quarter of 2025 as compared to the first quarter of 2024, of which approximately 2% was from higher tuition rates, partially offset by slightly lower enrollment. Revenue from before- and after-school sites increased by $3.9 million, or 7.8%, for the first quarter of 2025 as compared to the first quarter of 2024 primarily due to opening new sites. Income from operations increased $15.2 million, or 45.3%, to $48.8 million for the first quarter of 2025 as compared to $33.6 million for the first quarter of 2024. The increase primarily relates to a decrease in stock-based compensation expense and bonus expense of $16.9 million driven by the first quarter of 2024 distribution to profit interest unit ("PIU") holders and a related bonus to restricted stock unit ("RSU") and stock option holders. The increase in income from operations was also due to the $13.6 million in revenue growth noted above, which was partially offset by $10.7 million lower cost reimbursements from government assistance recognized in the first quarter of 2025, primarily related to the conclusion of certain COVID-19 Related Stimulus funding. Net income was $21.2 million for the first quarter of 2025 compared to a net loss of $1.8 million for the first quarter of 2024. The $22.9 million change was driven by the impact to income from operations noted above and a $16.3 million decrease in interest expense primarily driven by lower outstanding principal and interest rates on the First Lien Term Loan Facility as a result of the October 2024 repayment and repricing amendment executed in conjunction with the Company's initial public offering ("IPO"). Net income per common share, diluted was $0.18 for the first quarter of 2025 compared to net loss per common share, diluted of $0.02 for the first quarter of 2024. For the first quarter of 2025, adjusted EBITDA (1) increased $9.1 million, or 12.2%, to $83.6 million, and adjusted net income (1) increased $16.7 million, to $27.0 million, from the first quarter of 2024. Adjusted net income per common share, diluted (1) was $0.23 for the first quarter of 2025. As of March 29, 2025, the Company operated 1,582 early childhood education centers and 1,038 before- and after-school sites. Balance Sheet and Liquidity As of March 29, 2025, the Company had $131.3 million of cash and cash equivalents and $207.4 million of available borrowing capacity under the revolving credit facility, after giving effect to the outstanding letters of credit of $55.1 million. During the fiscal year ended March 29, 2025, the Company generated $98.4 million in cash provided by operating activities and made net investments totaling $28.4 million, which include $23.4 million in property and equipment and $6.1 million in acquisitions. Additionally, during the fiscal year ended March 29, 2025, the Company utilized $1.1 million in cash for financing activities. 2025 Outlook The Company maintains its guidance for full year 2025 consisting of revenue to be approximately $2.75 billion to $2.85 billion, adjusted EBITDA to be approximately $310 million to $325 million (2), and adjusted net income per common share, diluted to be approximately $0.75 to $0.85 (2). Conference Call and Webcast Management will host a conference call today at 5:00 pm ET to discuss the financial results for the first quarter of 2025. The conference call will be webcast live via our investor relations website A replay of the webcast will be made available on our investor relations website shortly after the event concludes. Interested parties may also access the conference call live over the phone by dialing 1-646-564-2877 (Toll-free) or 1-289-819-1520 (Toll) and referencing conference ID 52459. Participants are asked to dial in a few minutes prior to the call to register. Footnote References (1) Adjusted EBITDA, adjusted net income, and adjusted net income per common share are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the comparable GAAP measures are included in the tables at the end of this press release. (2) Future period non-GAAP outlook, including adjusted EBITDA and adjusted net income per common share, diluted, includes adjustments for items not indicative of our core operations, which may include, without limitation, items described in the below section titled "Use of Non-GAAP Financial Measures" and in the accompanying tables. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual, or unanticipated charges, expenses or gains, or other items that may not directly correlate to the underlying performance of our business operations. The exact amounts of these adjustments are not currently determinable but may be significant. It is therefore not practicable to provide the comparable GAAP measures or reconcile this non-GAAP outlook to the most comparable GAAP measures. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this press release and on the related teleconference that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements. These statements include, but are not limited to, statements about the Company's expectations regarding, among other things, financial position; future financial outlook and performance; business plans and objectives; general economic and industry trends; operating results; and working capital and liquidity and other statements contained in this presentation that are not historical facts. When used in this press release and on the related teleconference, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," "vision," or "should," or the negative thereof or other variations thereon or comparable terminology. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: our ability to address changes in the demand for child care and workplace solutions; our ability to adjust to shifts in workforce demographics, economic conditions, office environments and unemployment rates; our ability to hire and retain qualified teachers, management, employees, and maintain strong employee engagement; the impact of public health crises, such as the COVID-19 pandemic, on our business, financial condition and results of operations; our ability to address adverse publicity; changes in federal child care and education spending policies and budget priorities; our ability to acquire additional capital; our ability to successfully identify acquisition targets, acquire businesses and integrate acquired operations into our business; our reliance on our subsidiaries; our ability to protect our intellectual property rights; our ability to protect our information technology and that of our third-party service providers; our ability to manage the costs and liabilities of collecting, using, storing, disclosing, transferring and processing personal information; our ability to manage payment-related risks; our expectations regarding the effects of existing and developing laws and regulations, litigation and regulatory proceedings; our ability to maintain adequate insurance coverage; the fluctuation in our stock price; the occurrence of natural disasters, environmental contamination or other highly disruptive events; expenses associated with being a public company and other risks and uncertainties set forth under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 28, 2024 and in its other filings with the SEC. KinderCare does not undertake to update any forward-looking statements made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based, except as otherwise required by law. Use of Non-GAAP Financial Measures This press release contains certain non-GAAP financial measures, including EBIT, EBITDA, adjusted EBITDA, adjusted net income, and adjusted net income per common share. Tables showing the reconciliation of these non-GAAP financial measures to the comparable GAAP measures are included at the end of this release. Management believes these non-GAAP financial measures are useful in evaluating the Company's operating performance, and may be helpful to securities analysts, institutional investors and other interested parties in understanding the Company's operating performance and prospects. Investors are cautioned against placing undue reliance on non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures, such as net income (loss) or net income (loss) per common share. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures may have limited value for purposes of drawing comparisons between companies because different companies may calculate similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles. About KinderCare Learning Companies™ A leading private provider of early childhood and school-age education and care, KinderCare builds confidence for life in children and families from all backgrounds. KinderCare supports hardworking families in 41 states and the District of Columbia with differentiated flexible child care solutions: In neighborhoods, with KinderCare® Learning Centers that offer early learning programs for children six weeks to 12 years old; Crème School®, which offers a premium early education experience using a variety of enrichment classrooms; and In local schools, with Champions® before and after-school programs. KinderCare partners with employers nationwide to address the child care needs of today's dynamic workforce. We provide customized family care benefits for organizations, including care for young children on or near the site where their parents work, tuition benefits, and backup care where KinderCare programs are located. Headquartered in Lake Oswego, Oregon, KinderCare operates more than 2,500 early learning centers and sites. KinderCare Learning Companies, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands) March 29, 2025 December 28, 2024 Assets Current assets: Cash and cash equivalents $ 131,294 $ 62,336 Accounts receivable, net 95,878 104,333 Prepaid expenses and other current assets 57,505 48,104 Total current assets 284,677 214,773 Property and equipment, net 417,030 418,524 Goodwill 1,126,382 1,119,714 Intangible assets, net 427,457 429,766 Operating lease right-of-use assets 1,381,493 1,373,064 Other assets 81,019 89,626 Total assets $ 3,718,058 $ 3,645,467 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and accrued liabilities $ 183,552 $ 152,660 Related party payables — 119 Current portion of long-term debt 9,668 7,251 Operating lease liabilities—current 149,967 144,919 Deferred revenue 30,627 26,376 Other current liabilities 96,611 81,433 Total current liabilities 470,425 412,758 Long-term debt, net 917,690 918,719 Operating lease liabilities—long-term 1,320,714 1,315,587 Deferred income taxes, net 27,034 30,907 Other long-term liabilities 97,312 102,987 Total liabilities 2,833,175 2,780,958 Total shareholders' equity 884,883 864,509 Total liabilities and shareholders' equity $ 3,718,058 $ 3,645,467 KinderCare Learning Companies, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share data) Three Months Ended March 29, 2025 March 30, 2024 Revenue $ 668,244 $ 654,670 Costs and expenses: Cost of services (excluding depreciation and impairment) 516,188 77.2% 497,694 76.0% Depreciation and amortization 29,977 4.5% 28,540 4.4% Selling, general, and administrative expenses 71,727 10.7% 90,455 13.8% Impairment losses 1,510 0.2% 4,362 0.7% Total costs and expenses 619,402 92.7% 621,051 94.9% Income from operations 48,842 7.3% 33,619 5.1% Interest expense 20,108 3.0% 36,420 5.6% Interest income (659 ) (0.1%) (2,108 ) (0.3%) Other expense (income), net 398 0.1% (3,284 ) (0.5%) Income before income taxes 28,995 4.3% 2,591 0.4% Income tax expense 7,838 1.2% 4,342 0.7% Net income (loss) $ 21,157 3.2% $ (1,751 ) (0.3%) Net income (loss) per common share: (1) Basic $ 0.18 $ (0.02 ) Diluted $ 0.18 $ (0.02 ) Weighted average number of common shares outstanding: (1) Basic 118,239 90,366 Diluted 118,321 90,366 (1) On October 8, 2024, the Company effected a common stock conversion, in which Class A and Class B common stock were converted to common stock at a ratio of 8.375 to one ("Common Stock Conversion"). The outstanding shares and per share amounts for the three months ended March 30, 2024 have been adjusted to retrospectively reflect the conversion. KinderCare Learning Companies, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) Three Months Ended March 29, 2025 March 30, 2024 Operating activities: Net income (loss) $ 21,157 $ (1,751 ) Adjustments to reconcile net income (loss) to cash provided by operating activities: Depreciation and amortization 29,977 28,540 Impairment losses 1,510 4,362 Change in deferred taxes (2,339 ) (511 ) Amortization of debt issuance costs 1,569 408 Stock-based compensation 3,848 16,917 Realized and unrealized losses (gains) from investments held in deferred compensation asset trusts 671 (1,506 ) Gain on disposal of property and equipment (167 ) (1,532 ) Changes in assets and liabilities, net of effects of acquisitions 42,218 19,192 Cash provided by operating activities 98,444 64,119 Investing activities: Purchases of property and equipment (23,360 ) (24,108 ) Payments for acquisitions, net of cash acquired (6,071 ) (6,175 ) Proceeds from the disposal of property and equipment 167 1,532 Investments in deferred compensation asset trusts (2,179 ) (4,125 ) Proceeds from deferred compensation asset trust redemptions 3,055 1,489 Cash used in investing activities (28,388 ) (31,387 ) Financing activities: Payments of deferred offering costs (275 ) — Distribution to parent — (320,000 ) Proceeds from issuance of long-term debt — 264,338 Principal payments of long-term debt — (3,977 ) Payments of debt issuance costs (181 ) (201 ) Repayments of promissory notes (81 ) (84 ) Payments of financing lease obligations (336 ) (389 ) Tax payments related to net settlement of restricted stock units (224 ) — Cash used in financing activities (1,097 ) (60,313 ) Net change in cash, cash equivalents, and restricted cash 68,959 (27,581 ) Cash, cash equivalents, and restricted cash at beginning of period 62,430 156,412 Cash, cash equivalents, and restricted cash at end of period $ 131,389 $ 128,831 KinderCare Learning Companies, Inc. Consolidated Non-GAAP Measures (Unaudited) (In thousands, except per share data) The following table shows EBIT, EBITDA, and adjusted EBITDA for the periods presented, and the reconciliation to its most comparable GAAP measure, net income (loss), for the periods presented: Three Months Ended March 29, March 30, 2025 2024 Net income (loss) $ 21,157 $ (1,751 ) Add back: Interest expense 20,108 36,420 Interest income (659 ) (2,108 ) Income tax expense 7,838 4,342 EBIT $ 48,444 $ 36,903 Add back: Depreciation and amortization 29,977 28,540 EBITDA $ 78,421 $ 65,443 Add back: Impairment losses (1) 1,510 4,362 Stock-based compensation (2) 4,073 (105 ) Management and advisory fee expenses (3) — 1,216 Acquisition related costs (4) — 16 Non-recurring distribution and bonus expense (5) — 19,287 COVID-19 Related Stimulus, net (6) (663 ) (19,494 ) Other costs (7) 210 3,715 Adjusted EBITDA $ 83,551 $ 74,440 The following table shows adjusted net income and adjusted net income per common share for the periods presented and the reconciliation to the most comparable GAAP measure, net income (loss) and net income (loss) per common share, respectively, for the periods presented: Three Months Ended March 29, March 30, 2025 2024 Net income (loss) $ 21,157 $ (1,751 ) Income tax expense 7,838 4,342 Net income before income tax $ 28,995 $ 2,591 Add back: Amortization of intangible assets 2,309 2,284 Impairment losses (1) 1,510 4,362 Stock-based compensation (2) 4,073 (105 ) Management and advisory fee expenses (3) — 1,216 Acquisition related costs (4) — 16 Non-recurring distribution and bonus expense (5) — 19,287 COVID-19 Related Stimulus, net (6) (663 ) (19,494 ) Other costs (7) 210 3,715 Adjusted income before income tax 36,434 13,872 Adjusted income tax expense (8) 9,404 3,580 Adjusted net income $ 27,030 $ 10,292 Net income (loss) per common share: (9) Basic $ 0.18 $ (0.02 ) Diluted $ 0.18 $ (0.02 ) Adjusted net income per common share: (9) Basic $ 0.23 $ 0.11 Diluted $ 0.23 $ 0.11 Weighted average number of common shares outstanding: (9) Basic 118,239 90,366 Diluted 118,321 90,366 Explanation of add backs: (1) Represents impairment charges for long-lived assets as a result of center closures and reduced operating performance at certain centers due to the impact of changing demographics in certain locations in which we operate and current macroeconomic conditions on our overall operations. (2) Represents non-cash stock-based compensation expense in accordance with Accounting Standards Codification 718, Compensation: Stock Compensation, and excludes cash-settled, liability-classified stock-based compensation expense. The three months ended March 30, 2024 excludes $14.3 million in expense included within "Non-recurring distribution and bonus expense" as described in explanation (5) below. (3) Represents amounts incurred for management and advisory fees with related parties in connection with a management services agreement with Partners Group (USA), Inc., a related party of the Company's ultimate parent, which was terminated upon completion of our IPO. (4) Represents costs incurred in connection with planned and completed acquisitions, including due diligence, transaction, integration, and severance related costs. During the three months ended March 30, 2024, these costs were incurred related to the acquisition of Crème School. (5) During March 2024, we recognized a $14.3 million one-time expense related to an advance distribution to holders of Class B PIUs. In connection with this distribution, we recognized a $5.0 million one-time bonus expense for holders of RSUs and stock options to account for the change in value associated with the March 2024 distribution for Class B PIUs. We do not routinely make distributions to Class B PIU holders in advance of a liquidity event or pay bonuses to RSU or stock option holders outside of normal vesting and we do not expect to do so in the future. In connection with our IPO, KC Parent, LP ("KC Parent"), our direct parent prior to our IPO, distributed shares of our common stock then held by KC Parent to unitholders of KC Parent in proportion to their interests in KC Parent. (6) Includes expense reimbursements and revenue arising from the COVID-19 pandemic, net of pass-through expenses incurred as a result of certain grant requirements. We recognized $0.7 million and $24.1 million during the three months ended March 29, 2025 and March 30, 2024, respectively, in funding for reimbursement of center operating expenses in cost of services (excluding depreciation and impairment). COVID-19 Related Stimulus is net of pass-through expenses incurred as stipulated within certain grants of $4.6 million during the three months ended March 30, 2024. We did not incur COVID-19 Related Stimulus pass-through expenses during the three months ended March 29, 2025. (7) Includes certain professional fees incurred for both contemplated and completed debt and equity transactions, as well as costs expensed in connection with prior contemplated offerings. For the three months ended March 29, 2025, other costs include $0.2 million in costs related to our IPO. For the three months ended March 30, 2024, other costs include $2.2 million in transaction costs associated with our incremental first lien term loan borrowing. These costs represent items management believes are not indicative of core operating performance. (8) Includes the tax effect of the non-GAAP adjustments, calculated using the appropriate federal and state statutory tax rate and the applicable tax treatment for each adjustment. The non-GAAP tax rate was 25.8% for the three months ended March 29, 2025 and March 30, 2024. Our statutory rate is re-evaluated at least annually. (9) The outstanding shares and per share amounts for the three months ended March 30, 2024 have been retrospectively adjusted to reflect the Common Stock Conversion. View source version on Contacts Investors Sloan Bohlen, Solebury Strategic Communicationsinvestors@ Media Stephanie Knight, Solebury Strategic Communicationsmedia@ Sign in to access your portfolio
Business Wire
07-05-2025
- Health
- Business Wire
90% of Parents Report High-Quality Child Care Improves Their Well-Being
LAKE OSWEGO, ORE.--(BUSINESS WIRE)--Recent data from KinderCare Learning Companies, Inc.'s (NYSE: KLC) ('KinderCare') sixth annual KinderCare Confidence Index, a national study conducted in partnership with The Harris Poll, found that access to quality child care is a critical cornerstone to enhancing parental well-being and mental health. Parents report unprecedented levels of stress and anxiety in pursuit of "perfect parenting.' Parents also said access to high-quality child care greatly improved their mental health. Consistent, high-quality child care stands out as the top resource for improving parent mental health, with 90% of parents agreeing that quality child care gives them confidence as a parent. 'We know the positive impact that dependable, high-quality child care can have on a parent's mental health. We are at a pivotal moment where both policymakers and businesses can help alleviate some of that stress with comprehensive child care benefits,' said Dan Figurski, President of KinderCare for Employers and Champions. 'At KinderCare, we partner with hundreds of employers nationwide, providing tailored child care options that meet the diverse needs of workforces. It is essential for more employers to join us in enhancing and extending child care solutions for families.' Nearly 67% of parents say the pressure to be a 'perfect parent' adds stress and anxiety to their daily life, and 60% say they feel overwhelmed by the demands of being a parent. Unsurprisingly, child care is among the top issues plaguing modern parents today. The survey found that consistent, high-quality child care stands out as the top resource for improving parent mental health, with 90% of parents agreeing that quality child care gives them confidence as a parent. The escalating mental health crisis among today's parents urgently highlights the need for policymakers and business leaders to enhance child care benefits. Sixty-three percent of parents say the return to in-person work disrupted their child care arrangements. Further, 77% report feeling they must put on a brave face and persevere, even when parenting feels like too much to handle. Faced with these pressures, parents overwhelmingly report the positive impact of reliable child care on their overall well-being. According to the data, 75% of parents indicate that consistent, high-quality child care would allow them to be more present as a parent when they're with their kids, an increase of 10% from 2024. Moreover, 85% say despite the many uncertainties in the world, selecting high-quality child care significantly reduces their anxieties. The data also reveals ongoing struggles among parents: 80% of parents agree the pressures put on parents today to ensure their child is successful is intense 54% of parents say the pressures of 'gentle parenting' have constantly made them feel like they're failing as a parent 51% of parents say they would like to seek out therapy due to the pressures they face as a parent 57% of parents say unreliable child care has negatively impacted their work performance in the past To download the full 2025 KinderCare Confidence Index Survey or learn more about KinderCare's child care solutions, visit here. Methodology This survey was conducted online within the United States by The Harris Poll on behalf of KinderCare from November 21, 2024, to December 2, 2024, among 2,504 parents with children age 12 and younger. Within the sample we surveyed 1,053 parents with children age 5 and under, and 1,451 with children age 6-12. The presentation represents a national sample; we then looked at the data cut by the following demographics: age, race/ethnicity, gender, income, region, and employment status. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. About KinderCare Learning Companies™ A leading provider of early childhood and school-age education and care, KinderCare builds confidence for life in children and families from all backgrounds. KinderCare supports hardworking families in 41 states and the District of Columbia with differentiated flexible child care solutions: In neighborhoods, with KinderCare ® Learning Centers that offer early learning programs for children six weeks to 12 years old; In The Crème de la Crème™ School, which offers a premium early education experience using a variety of enrichment classrooms; and In local schools, with Champions ® before and after-school programs. KinderCare partners with employers nationwide to address the child care needs of today's dynamic workforce. We provide customized family care benefits for organizations, including care for young children on or near the site where their parents work, tuition benefits, and backup care where KinderCare programs are located. Headquartered in Lake Oswego, Oregon, KinderCare operates nearly 2,500 early learning centers and sites. To learn more, visit
