KinderCare Learning Companies, Inc.

Listed Company

KLCCIK 0001873529NYSEAcceleratedServices-Child Day Care ServicesDelawareFY ends Jan 2

Period

FY 2025

Revenue

$2.73B

Net Income

$-112.88M

Total Assets

$3.75B

Equity

$755.26M

Shares Out

118.36M

Op. Cash Flow

$238.53M

Business

KinderCare Learning Companies, Inc. operates as a provider of early childhood education and child care services in the United States. It offers center-based early education, before- and after-school programs, employer-sponsored onsite child care, proprietary curriculum and supplemental enrichment services. The company’s consumer-facing brands include community-based KinderCare Learning Centers, premium Crème School locations, and Champions before- and after-school programs, organized to serve varying family needs and employer partners. KinderCare distributes services through an extensive network of community centers, employer onsite centers and school-based sites across U.S. markets.

Summary from filing dated 2025-03-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue	2,733	2,663	2,510	2,166
Cost of services (excluding depreciation and impairment)	2,128	2,033	1,824	1,425
Depreciation and amortization	124	118	109	89
Selling, general, and administrative expenses	297	423	288	248
Impairment losses	204	11	14	15
Total costs and expenses	2,753	2,584	2,235	1,776
(Loss) income from operations	−20	79	275	389
Interest expense	84	171	153	101
Interest income	−5	−7	−6	—
Other income, net	−6	−6	−1	3
(Loss) income before income taxes	−93	−78	130	288
Income tax expense	20	15	27	69
Net (loss) income	−113	−93	103	219
Change in net (losses) gains on cash flow hedges	−7	3	2	−2
Total comprehensive (loss) income	−120	−90	104	217
Basic (per share)	−0.95	−0.96	1.13	2.35
Diluted (per share)	−0.95	−0.96	1.13	2.35
Basic (shares)	118	96	90	93
Diluted (shares)	118	96	90	93

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	133	62	156	105	—
Accounts receivable, net	119	104	88	—	—
Prepaid expenses and other current assets	106	48	39	—	—
Total current assets	358	215	283	—	—
Property and equipment, net of accumulated depreciation	418	419	396	—	—
Goodwill	965	1,120	1,111	1,103	—
Intangible assets, net of accumulated amortization	421	430	439	—	—
Operating lease right-of-use assets	1,501	1,373	1,352	—	—
Other assets	86	90	73	—	—
Total assets	3,748	3,645	3,653	—	—
Accounts payable and accrued liabilities	163	153	154	—	—
Related party payables	0	119,000	0	—	—
Current portion of long-term debt	10	7	13	—	—
Operating lease liabilities-current	147	145	133	—	—
Deferred revenue	50	26	26	—	—
Other current liabilities	116	81	100	—	—
Total current liabilities	485	413	427	—	—
Long-term debt, net	918	919	1,237	—	—
Operating lease liabilities-long-term	1,448	1,316	1,302	—	—
Deferred income taxes, net	35	31	61	—	—
Other long-term liabilities	107	103	120	—	—
Total liabilities	2,993	2,781	3,146	—	—
Commitments and contingencies (Note 21)	—	—	—	—	—
Preferred stock, par value $0.01; 25,000,000 shares authorized; no shares issued and outstanding as of January 3, 2026 and December 28, 2024	0	0	0	—	—
Common stock, par value $0.01; 750,000,000 shares authorized; 118,340,042 shares issued and outstanding as of January 3, 2026 and 117,984,749 shares issued and outstanding as of December 28, 2024	1	1	904,000	—	—
Additional paid-in capital	841	830	383	—	—
Retained (deficit) earnings	−83	30	123	—	—
Accumulated other comprehensive (loss) income	−5	3	−313,000	—	—
Total shareholders' equity	755	865	507	408	256
Total liabilities and shareholders' equity	3,748	3,645	3,653	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation and amortization	124	118	109	89
Impairment losses	204	11	14	15
Change in deferred taxes	7	−30	−17	26
Loss on extinguishment of long-term debt, net	5	26	4	−193,000
Loss on extinguishment of indebtedness to related party	0	0	472,000	—
Amortization of debt issuance costs	6	7	8	5
Stock-based compensation	12	144	13	10
Realized and unrealized gains from investments held in deferred compensation asset trusts	−3	−2	−3	5
(Gain) loss on disposal of property and equipment	−205,000	−3	2	104,000
Accounts receivable	−14	−16	−18	4
Prepaid expenses and other current assets	−60	−7	22	2
Other assets	8	−2	−1	−30
Accounts payable and accrued liabilities	4	−9	−1	−2
Leases	2	1	1	−14
Deferred revenue	23	569,000	633,000	−18
Other current liabilities	32	−15	21	19
Other long-term liabilities	1	−15	49	13
Related party payables	−119,000	119,000	−2	358,000
Cash provided by operating activities	239	116	304	342
Purchases of property and equipment	−128	−132	−129	−139
Payments for acquisitions, net of cash acquired	−23	−11	−10	−158
Proceeds from the disposal of property and equipment	293,000	3	906,000	299,000
Investments in deferred compensation asset trusts	−7	−9	−7	−5
Proceeds from deferred compensation asset trust redemptions	4	2	2	2
Proceeds from sale and leaseback, net of transaction costs	0	0	26	—
Cash used in investing activities	−154	−147	−118	−300
Proceeds from initial public offering, net of underwriting discounts	0	626	0	—
Payments of deferred offering costs	−275,000	−10	0	—
Distribution to parent	0	−320	0	—
Proceeds from issuance of long-term debt	0	264	1,259	—
Repayment of long-term debt	0	−608	−1,311	−20
Repayment of indebtedness to related party	0	—	−56	—
Principal payments of long-term debt	−10	−12	−6	−12
Payments of debt issuance costs	−317,000	−1	−7	−807,000
Repayments of promissory notes	−354,000	−421,000	−951,000	−13
Payments of financing lease obligations	−1	−2	−2	−2
Tax payments related to net settlement of restricted stock units	−1	−224,000	0	—
Payments of contingent consideration for acquisitions	0	0	−10	—
Cash used in financing activities	−13	−63	−135	−118
Net change in cash, cash equivalents, and restricted cash	71	−94	51	−76
Cash paid for interest	83	126	139	96
Cash paid for income taxes, net of refunds	15	48	29	70
Cash paid for amounts included in the measurement of operating lease liabilities	308	293	284	263
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	304	182	99	102
Reclassification of liability-classified stock options and restricted stock units to equity-classified	0	13	0	—
Deferred cloud computing implementation costs included in accounts payable	127,000	6	0	—
Reclassification of equity-classified stock options and restricted stock units to liability-classified	0	0	7	—
Property and equipment additions included in accounts payable and accrued liabilities	12	6	3	6
Finance lease right-of-use assets obtained in exchange for finance lease liabilities	1	110,000	3	255,000
Reductions to finance lease right-of-use assets resulting from reductions to finance lease liabilities	1	0	512,000	—
Adjustment to tax impact of initial public offering costs	548,000	0	0	—
Deferred offering costs included in accounts payable and accrued liabilities	0	275,000	0	—
Contingent consideration and holdbacks payable for acquisitions	2	0	0	10
Measurement period and other adjustments to reduce contingent consideration payable	0	0	38,000	—

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