Bright Horizons Family Solutions(US:BFAM)2025-02-13 21:09Financial Performance - Revenue for Q4 2024 was $674 million, an increase of 10% compared to Q4 2023[3] - Income from operations for Q4 2024 was $48.2 million, reflecting a 71% increase from $28.2 million in Q4 2023[4] - Net income for Q4 2024 reached $29.1 million, a significant increase of 427% from $5.5 million in Q4 2023[4] - Adjusted EBITDA for Q4 2024 was $110.7 million, up 12% from the previous year[5] - For the full year 2024, revenue totaled $2.7 billion, an increase of 11% year-over-year[6] - Adjusted net income for Q4 2024 was $57.4 million, a 19% increase from the previous year[5] - Revenue for the year ended December 31, 2024, increased to $2,686,013 thousand, a 11.1% increase from $2,418,257 thousand in 2023[21] - Net income for 2024 was $140,191 thousand, representing a 88.8% increase from $74,223 thousand in 2023, with net income margin at 5.2%[21] - Adjusted income from operations for the year 2024 was $277,753 thousand, up from $212,602 thousand in 2023, reflecting a 30.7% increase[29] - Adjusted EBITDA for the full year 2024 was $409.3 million, up from $352.1 million in 2023, reflecting a year-over-year increase of 16%[32] - Adjusted net income for the full year 2024 was $203.2 million, an increase of 23.7% from $164.3 million in 2023[32] Cash Flow and Assets - The company generated approximately $337.5 million of cash from operations in 2024, compared to $256.1 million in 2023[9] - Cash provided by operating activities increased to $337,462 thousand in 2024, compared to $256,140 thousand in 2023, marking a 31.7% increase[25] - Total assets decreased slightly to $3,850,319 thousand in 2024 from $3,896,144 thousand in 2023[23] - Total stockholders' equity increased to $1,278,396 thousand in 2024, up from $1,212,676 thousand in 2023, indicating a growth of 5.4%[23] Expenses and Liabilities - The company reported a decrease in interest expense to $48,761 thousand in 2024 from $51,609 thousand in 2023, a reduction of 3.6%[21] - The current portion of long-term debt increased to $28,500 thousand in 2024 from $18,500 thousand in 2023, reflecting a 54.1% increase[23] - The company incurred stock-based compensation expenses of $9.0 million in Q4 2024, compared to $7.7 million in Q4 2023, reflecting an increase of 17%[32] Operational Metrics - The company operated 1,019 early education and child care centers as of December 31, 2024, with a capacity to serve approximately 115,000 children[7] - EBITDA as a percentage of revenue improved to 16% in Q4 2024, consistent with the previous year, while full-year EBITDA margin also held steady at 15%[32] - Impairment losses for Q4 2024 totaled $30.3 million, compared to $35.9 million in Q4 2023, indicating a decrease of 15.6%[32] - Income from operations for Q4 2024 was $48.2 million, up from $28.2 million in Q4 2023, representing a growth of 70.8%[32] Future Outlook - The company expects fiscal year 2025 revenue to be in the range of $2.85 billion to $2.9 billion[10] - The company plans to continue focusing on market expansion and new product development to drive future growth[21] Shareholder Information - The company repurchased $84.6 million of its common stock during the year ended December 31, 2024[9] - The company reported a diluted adjusted earnings per share of $0.98 for Q4 2024, compared to $0.83 in Q4 2023, marking a growth of 18.1%[32] - The weighted average diluted shares outstanding increased slightly to 58.4 million in Q4 2024 from 58.1 million in Q4 2023[32]