Bright Horizons Family Solutions Inc 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period fromCommission File Number:001-35780 2 Wells AvenueNewton,Massachusetts registrant was required to submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. FORM 10-QFor the quarterly period ended March31, 2025 TABLE OF CONTENTS Management’s Discussion and Analysis of Financial Condition and Results of Operations Legal ProceedingsItem1A.Risk Factors Other InformationExhibits Item1. Condensed Consolidated Financial Statements (Unaudited) NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)1.ORGANIZATION AND BASIS OF PRESENTATION Company provides services designed to help families, employers and their employees better integrate work and family life, primarilyunder multi-year contracts with employers who offer early education and child care, back-up and family care, and workforceeducation services as part of their employee benefits packages in an effort to support employees across life and career stages and toimprove employee engagement, and to working families directly through community-facing child care centers. Basis of Presentation— The accompanying unaudited condensed consolidated balance sheet as of March31, 2025 and the unauditedcondensed consolidated statements of income, comprehensive income (loss), changes in stockholders’ equity, and cash flows for theinterim periods ended March31, 2025 and 2024 have been prepared in accordance with accounting principles generally accepted inthe United States of America (“U.S. GAAP” or “GAAP”) for interim financial information and pursuant to the rules and regulations ofthe Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required inaccordance with U.S. GAAP for complete financial statements and should be read in conjunction with the audited financial statements adjustments) necessary to present fairly the results of the interim periods presented. The operating results for the interim periodspresented are not necessarily indicative of the results expected for the full year. Stockholders’Equity— The board of directors of the Company authorized a share repurchase program of up to $400million of the Company’s outstanding common stock effective December16, 2021. The share repurchase program has no expiration date. The sharesmay be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, under Rule 10b5-1 plans, or by other means in accordance with federal securities laws. During the three months ended March 31, Disaggregation of RevenueThe Company disaggregates revenue from contracts with customers into segments and geographical regions.Revenue disaggregatedby segment and geographical region was as follows: child careBack-up careadvisory services(In thousands)Three months ended March 31, 2025North America$332,975$118,829$26,368$ Three months ended March 31, 2024 North America$320,203$103,411$24,397$Outside North America163,43711,261—$483,640$114,672$24,397$ classification “Outside North America” includes the Company’s operations in the United Kingdom, the Netherlands, Australia and Deferred Revenue call centers, and to a lesser extent, various office equipment, in the United States, the United Kingdom, the Netherlands, and Australia.Most of the leases expire within10to15years and many contain renewal options and/or termination provisions. As of March31, 2025 and December31, 2024, there were no material finance leases. Lease Expense Operating lease expenseVariable lease expense(1)(1) Total lease expense Remainder of 2025 Total lease paymentsLess imputed interest Present value of lease liabilitiesLess current portion of operating lease liabilities Long-term operating lease liabilities$As of March31, 2025, the Company had not entered into additional operating leases that have not yet commenced. acquisitions arises largely from synergies expected from combining the operations of the businesses acquired with the Company’sexisting operations, including cost efficiencies and leveraging existing client relationships, as well as from benefits derived fromgaining the related assembled workforce.There have beennoacquisitions in the three months ended March 31, 2025. In April 2024, the Company acquired the remaining shares outstanding of a provider of early education and tutoring in the Netherlandsfor cash consideration of $1.3million and contingent consideration of $0.7million payable in 2026