KinderCare Learning Companies (KLC) financial statements
KinderCare Learning Companies reported revenue of $2.7B in fiscal 2025, up 8.1% a year over 3 years.
Net income was -$113M and the operating margin -0.7%, against 18.0% in 2022.
Free cash flow was $110M.
The diluted share count rose 27% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from KinderCare Learning Companies's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $2.2B | $2.5B | $2.7B | $2.7B |
| Cost of revenue | $1.4B | $1.8B | $2.0B | $2.1B |
| Gross profit | $741M | $686M | $631M | $605M |
| Selling, general and admin | $248M | $288M | $423M | $297M |
| Operating income | $389M | $275M | $79M | -$20M |
| Interest expense | $101M | $153M | $171M | $84M |
| Pre-tax income | $288M | $130M | -$78M | -$93M |
| Income tax | $69M | $27M | $15M | $20M |
| Net income | $219M | $103M | -$93M | -$113M |
| EPS (diluted) | $2.35 | $1.13 | -$0.96 | -$0.95 |
| Diluted shares | 93M | 90M | 96M | 118M |
| Gross margin | 34.2% | 27.3% | 23.7% | 22.1% |
| Operating margin | 18.0% | 11.0% | 3.0% | -0.7% |
| Net margin | 10.1% | 4.1% | -3.5% | -4.1% |
Balance sheet
Fiscal years, from KinderCare Learning Companies's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $105M | $156M | $62M | $133M |
| Receivables | — | $88M | $104M | $119M |
| Total current assets | — | $283M | $215M | $358M |
| Property, plant and equipment | — | $396M | $419M | $418M |
| Goodwill | $1.1B | $1.1B | $1.1B | $965M |
| Total assets | — | $3.7B | $3.6B | $3.7B |
| Total current liabilities | — | $427M | $413M | $485M |
| Long-term debt | — | $1.2B | $919M | $918M |
| Total liabilities | — | $3.1B | $2.8B | $3.0B |
| Shareholders' equity | $408M | $507M | $865M | $755M |
| Net debt | -$105M | $1.1B | $864M | $794M |
Cash flow
Fiscal years, from KinderCare Learning Companies's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $342M | $304M | $116M | $239M |
| Capital spending | $139M | $129M | $132M | $128M |
| Free cash flow | $202M | $174M | -$16M | $110M |
| Stock-based compensation | $10M | $13M | $144M | $12M |
| Share buybacks (net) | -$73M | — | — | — |
| Net borrowing | — | $1.3B | $264M | $0 |
| Free cash flow margin | 9.3% | 7.0% | -0.6% | 4.0% |
Questions
What was KinderCare Learning Companies's revenue in 2025?
$2.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does KinderCare Learning Companies generate?
$110M in fiscal 2025 (operating cash flow minus capital spending).
From KinderCare Learning Companies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.