Revenue Performance - Total revenue for Q4 2024 increased by 647.0 million compared to 23.0 million, or 4.0%, driven by a 3% increase in tuition rates and a 1% increase in enrollment[5] - Revenue from before- and after-school sites increased by 2,663,035, an increase of 6.1% from 89.3 million, a significant change from an income of 133.6 million, compared to a net income of 148.4 million change[7] - Net loss for the fiscal year ended December 28, 2024, was 102,558 in the previous year, marking a significant decline[28] - Basic and diluted net loss per common share for the fiscal year ended December 28, 2024, was 1.13 in the previous year[28] Adjusted Metrics - Adjusted EBITDA for Q4 2024 increased by 66.0 million, while adjusted net income rose to 0.1 million in Q4 2023[10] - Adjusted EBITDA for the fiscal year ended December 28, 2024, was 266,382 in the previous year[32] - Adjusted net income for the three months ended December 28, 2024, was 0.1 million for the same period in 2023, representing a significant increase[33] - Adjusted net income per common share for the fiscal year ended December 28, 2024, was 0.20 in the previous fiscal year[33] Cash and Financial Position - As of December 28, 2024, the company had 184.2 million in available borrowing capacity[12] - Cash provided by operating activities for the fiscal year ended December 28, 2024, was 303,540 in the previous year[30] - The company incurred interest expenses of 152,893 in the previous year[28] Company Operations - As of December 28, 2024, the company operated 1,574 early childhood education centers and 1,025 before- and after-school sites[11] - For fiscal year 2025, the company expects revenue to be approximately 2.85 billion, with adjusted EBITDA projected at 325 million[14] - The fiscal year 2025 outlook includes a 53rd week, contributing an estimated 50 million in revenue and 12 million in adjusted EBITDA[14] Impairments and Expenses - The company reported a total impairment loss of 13,560 in the previous year[28] - The company recognized 63.3 million for the fiscal year[35] - Equity-based compensation expense for the three months ended December 28, 2024, included 14.3 million related to advance distributions to Class B PIU recipients in March 2024[34] Shareholder Information - The weighted average number of common shares outstanding for the fiscal year ended December 28, 2024, was 96,309, an increase from 90,366 in the previous year[28] - The weighted average number of common shares outstanding for the three months ended December 28, 2024, was 114,136,000, compared to 90,366,000 for the same period in 2023[33] - The company completed an initial public offering, generating proceeds of 3.6 million in transaction costs associated with its incremental first lien term loan during the fiscal year ended December 28, 2024[35] - Loss on extinguishment of long-term debt for the fiscal year ended December 28, 2024, was primarily due to the repayment of $608.0 million on the first lien term loan[34] - The non-GAAP tax rate was 25.8% for both the three months and fiscal years ended December 28, 2024, and December 30, 2023[34]
Kindercare Learning Companies, Inc.(KLC) - 2024 Q4 - Annual Results