BRIGHT HORIZONS FAMILY SOLUTIONS INC.BFAM

BRIGHT HORIZONS FAMILY SOLUTIONS INC. Revenue Disclosure

10-KFiled Feb 26, 20262 min read
REVENUE RECOGNITION
Disaggregation of Revenue
The Company disaggregates revenue from contracts with customers into segments and geographical regions. Revenue disaggregated by segment and geographical region was as follows:
Full service
center-based
child care		Back-up careEducational
advisory services		Total
(In thousands)
Year ended December 31, 2025
North America$1,302,672 $663,750 $124,500 $2,090,922 
Outside North America778,447 64,238 — 842,685 
$2,081,119 $727,988 $124,500 $2,933,607 
Year ended December 31, 2024
North America$1,268,916 $553,892 $114,116 $1,936,924 
Outside North America692,869 56,220 — 749,089 
$1,961,785 $610,112 $114,116 $2,686,013 
Year ended December 31, 2023
North America$1,165,554 $483,251 $111,732 $1,760,537 
Outside North America615,061 42,659 — 657,720 
$1,780,615 $525,910 $111,732 $2,418,257 
The classification “North America” is comprised of the Company’s operations in the United States (including Puerto Rico) and the classification “Outside North America” includes the Company’s operations in the United Kingdom, the Netherlands, Australia and India. Revenue in the United States was substantially all of the revenue in North America. Revenue in the United Kingdom was $506.9 million in 2025, $431.9 million in 2024, and $368.5 million in 2023. Revenue associated with each of the other countries in which the Company operates was less than 10% of total revenue.
Deferred Revenue
The Company records deferred revenue when payments are received in advance of the Company’s performance under the contract, which is recognized as revenue as the performance obligation is satisfied. The Company recognized $303.8 million, $268.3 million, and $220.1 million as revenue in the years ended December 31, 2025, 2024, and 2023, respectively, which was included in the deferred revenue balance at the beginning of each respective year. There were no significant changes in deferred revenue during the years ended December 31, 2025, 2024 and 2023 related to business combinations, impairments, cumulative catch-up or other adjustments.
Remaining Performance Obligations
The Company does not disclose the value of unsatisfied performance obligations for contracts with an original contract term of one year or less, or for variable consideration allocated to the unsatisfied performance obligation of a series of services. The transaction price allocated to the remaining performance obligations relates to services that are paid or invoiced in advance. The Company’s remaining performance obligations not subject to the practical expedients were not material at December 31, 2025.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Feb 27, 2024
2022Feb 28, 2023
2021Feb 25, 2022
2020Mar 1, 2021
2019Feb 27, 2020
2018Feb 27, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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