Bright Horizons Family Solutions Reports Second Quarter of 2022 Financial Results
Bright Horizons Family Solutions (NYSE: BFAM) announced Q2 2022 results, reporting revenue of $490 million, an 11% increase compared to Q2 2021. Net income rose 33% to $25 million, with diluted earnings per share at $0.42, up 35%. Adjusted metrics also showed significant growth, including adjusted EBITDA of $83 million (22% increase) and diluted adjusted EPS of $0.71 (45% increase). The company completed the acquisition of Only About Children on July 1, 2022, enhancing growth prospects despite ongoing challenges from COVID-19.
- Q2 2022 revenue increased by 11% to $490 million.
- Net income rose 33% to $25 million.
- Diluted EPS increased to $0.42, a 35% rise.
- Adjusted EBITDA up 22% to $83 million.
- Acquisition of Only About Children completed on July 1, 2022.
- Centers still below pre-COVID-19 enrollment levels.
- Transaction costs associated with acquisitions impacted net income.
- Higher effective tax rate negatively affected earnings.
Second Quarter 2022 Highlights (compared to Second Quarter 2021):
-
Revenue of
(increase of$490 million 11% ) -
Income from operations of
(increase of$48 million 41% ) -
Net income of
and diluted earnings per common share of$25 million (increases of$0.42 33% and35% , respectively)
Non-GAAP measures
-
Adjusted income from operations* of
(increase of$50 million 48% ) -
Adjusted EBITDA* of
(increase of$83 million 22% ) -
Adjusted net income* of
and diluted adjusted earnings per common share* of$42 million (increases of$0.71 41% and45% , respectively)
“We continued to make good progress in our second quarter with
“We are also thrilled to announce we completed the acquisition of Only About Children on
Second Quarter 2022 Results
Revenue increased
Income from operations was
In the second quarter of 2022, adjusted EBITDA* increased
As of
*Adjusted EBITDA, adjusted income from operations, adjusted net income and diluted adjusted earnings per common share are non-GAAP measures. Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization, stock-based compensation expense, and at times, non-recurring costs, such as loss on foreign currency forward contracts and transaction costs. Adjusted income from operations represents income from operations before non-recurring costs, such as transaction costs. Adjusted net income represents net income determined in accordance with GAAP, adjusted for stock-based compensation expense, amortization expense, and non-recurring costs, such as loss on foreign currency forward contracts and transaction costs, and the income tax provision (benefit) thereon. Diluted adjusted earnings per common share is a non-GAAP measure, calculated using adjusted net income. These non-GAAP measures are more fully described and are reconciled from the respective measures determined under GAAP in “Presentation of Non-GAAP Measures” and the attached table “Bright Horizons Family Solutions Inc. Non-GAAP Reconciliations,” respectively.
Balance Sheet and Liquidity
Bright Horizons has a strong balance sheet, with
2022 Revised Outlook
Although the ongoing impact of the COVID-19 pandemic continues to affect our global operations, we remain focused on our strategic priorities to deliver high-quality education, care and workforce services. Based on current trends and expectations, we have revised 2022 guidance and we currently expect fiscal year 2022 revenue to be approximately
Conference Call
Forward-Looking Statements
This press release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company’s actual results may vary significantly from the results anticipated in these forward-looking statements, which can generally be identified by the use of forward-looking terminology, including the terms “believes,” “expects,” “may,” “will,” “should,” “seeks,” “projects,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or, in each case, their negatives or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, including statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, operating expectations, the effects of the COVID-19 pandemic on our operations, our investments, impact of our services, our market position, our client relations and partners, our future opportunities and business model, our post-pandemic recovery, enrollment and occupancy levels, long-term growth strategy and value, estimated effective tax rate and tax expense and benefits, our care solutions, quality and expanded service offerings, our ability to respond to changing demands, contributions from acquisitions, our future business and financial performance, and our revised 2022 financial guidance. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, prolonged disruptions to our operations as a result of the COVID-19 pandemic, including current conditions and future developments in the public health arena; the continued impact of COVID-19 on the global economy; developments in the persistence and treatment of COVID-19 and its variants; the approval, delivery, effectiveness and public acceptance of vaccines for adults and children; vaccine and workplace mandates; the availability or lack of government support; changes in the demand for child care, dependent care and other workplace solutions, including variations in enrollment trends and lower than expected demand from employer sponsor clients as well as variations in return to work protocols; the constrained labor market for teachers and staff and ability to hire and retain talent; the possibility that acquisitions may disrupt our operations and expose us to additional risk; increased costs resulting from enhanced health and safety protocols and physical distancing; our ability to pass on our increased costs; our indebtedness and the terms of such indebtedness; our ability to withstand seasonal fluctuations in the demand for our services; our ability to implement our growth strategies successfully; changes in tax rates or policies or in rates of inflation; and other risks and uncertainties more fully described in the “Risk Factors” section of our Annual Report on Form 10-K filed on
Presentation of Non-GAAP Measures
In addition to the results provided in accordance with
With respect to our outlook for diluted adjusted earnings per common share, we do not provide the most directly comparable GAAP financial measure or corresponding reconciliation to such GAAP financial measure on a forward-looking basis. We are unable to predict with reasonable certainty and without unreasonable effort certain items such as the timing and amount of excess income tax benefits, transaction costs, and other non-recurring costs, as well as gains or losses from the early retirement of debt and the outcome from legal proceedings. These items are uncertain, depend on various factors outside our management’s control, and could significantly impact, either individually or in the aggregate, our future period earnings per common share as calculated and presented in accordance with GAAP.
For more information regarding adjusted EBITDA, adjusted income from operations, adjusted net income and diluted adjusted earnings per common share, please see the reconciliation of GAAP financial measures to the non-GAAP financial measures in the attached table “Bright Horizons Family Solutions Inc. Non-GAAP Reconciliations.”
About
Bright Horizons® is a leading global provider of high-quality early education and child care, back-up care, and workforce education services. For 35 years, we have partnered with employers to support workforces by providing services that help working families and employees thrive personally and professionally. Bright Horizons operates approximately 1,100 early education and child care centers in
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) |
|||||||||||||
Three Months Ended |
|||||||||||||
|
|
2022 |
|
|
% |
|
|
2021 |
|
|
% |
||
|
|
|
|
|
|
|
|
||||||
|
(In thousands, except share data) |
||||||||||||
Revenue |
$ |
490,341 |
|
|
100.0 |
% |
|
$ |
441,478 |
|
|
100.0 |
% |
Cost of services |
|
361,816 |
|
|
73.8 |
% |
|
|
335,496 |
|
|
76.0 |
% |
Gross profit |
|
128,525 |
|
|
26.2 |
% |
|
|
105,982 |
|
|
24.0 |
% |
Selling, general and administrative expenses |
|
73,673 |
|
|
15.0 |
% |
|
|
64,458 |
|
|
14.6 |
% |
Amortization of intangible assets |
|
7,030 |
|
|
1.4 |
% |
|
|
7,512 |
|
|
1.7 |
% |
Income from operations |
|
47,822 |
|
|
9.8 |
% |
|
|
34,012 |
|
|
7.7 |
% |
Loss on foreign currency forward contracts |
|
(5,917 |
) |
|
(1.2 |
)% |
|
|
— |
|
|
— |
% |
Interest expense — net |
|
(7,942 |
) |
|
(1.7 |
)% |
|
|
(9,580 |
) |
|
(2.2 |
)% |
Income before income tax |
|
33,963 |
|
|
6.9 |
% |
|
|
24,432 |
|
|
5.5 |
% |
Income tax expense |
|
(9,018 |
) |
|
(1.8 |
)% |
|
|
(5,617 |
) |
|
(1.2 |
)% |
Net income |
$ |
24,945 |
|
|
5.1 |
% |
|
$ |
18,815 |
|
|
4.3 |
% |
|
|
|
|
|
|
|
|
||||||
Earnings per common share: |
|
|
|
|
|
|
|
||||||
Common stock — basic |
$ |
0.42 |
|
|
|
|
$ |
0.31 |
|
|
|
||
Common stock — diluted |
$ |
0.42 |
|
|
|
|
$ |
0.31 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
||||||
Common stock — basic |
|
59,113,044 |
|
|
|
|
|
60,551,528 |
|
|
|
||
Common stock — diluted |
|
59,252,869 |
|
|
|
|
|
61,106,792 |
|
|
|
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) |
|||||||||||||
|
Six Months Ended |
||||||||||||
|
|
2022 |
|
|
% |
|
|
2021 |
|
|
% |
||
|
|
|
|
|
|
|
|
||||||
|
(In thousands, except share data) |
||||||||||||
Revenue |
$ |
950,750 |
|
|
100.0 |
% |
|
$ |
832,318 |
|
|
100.0 |
% |
Cost of services |
|
712,166 |
|
|
74.9 |
% |
|
|
644,978 |
|
|
77.5 |
% |
Gross profit |
|
238,584 |
|
|
25.1 |
% |
|
|
187,340 |
|
|
22.5 |
% |
Selling, general and administrative expenses |
|
145,419 |
|
|
15.3 |
% |
|
|
124,568 |
|
|
15.0 |
% |
Amortization of intangible assets |
|
14,179 |
|
|
1.5 |
% |
|
|
15,052 |
|
|
1.8 |
% |
Income from operations |
|
78,986 |
|
|
8.3 |
% |
|
|
47,720 |
|
|
5.7 |
% |
Loss on foreign currency forward contracts |
|
(5,917 |
) |
|
(0.6 |
)% |
|
|
— |
|
|
— |
% |
Interest expense — net |
|
(14,988 |
) |
|
(1.6 |
)% |
|
|
(18,596 |
) |
|
(2.2 |
)% |
Income before income tax |
|
58,081 |
|
|
6.1 |
% |
|
|
29,124 |
|
|
3.5 |
% |
Income tax expense |
|
(13,730 |
) |
|
(1.4 |
)% |
|
|
(3,177 |
) |
|
(0.4 |
)% |
Net income |
$ |
44,351 |
|
|
4.7 |
% |
|
$ |
25,947 |
|
|
3.1 |
% |
|
|
|
|
|
|
|
|
||||||
Earnings per common share: |
|
|
|
|
|
|
|
||||||
Common stock — basic |
$ |
0.75 |
|
|
|
|
$ |
0.43 |
|
|
|
||
Common stock — diluted |
$ |
0.74 |
|
|
|
|
$ |
0.42 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
||||||
Common stock — basic |
|
59,103,884 |
|
|
|
|
|
60,573,237 |
|
|
|
||
Common stock — diluted |
|
59,334,107 |
|
|
|
|
|
61,216,383 |
|
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) |
|||||
|
|
|
|
||
|
|
|
|
||
|
(In thousands) |
||||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
270,425 |
|
$ |
260,980 |
Accounts receivable — net |
|
171,114 |
|
|
210,971 |
Prepaid expenses and other current assets |
|
75,370 |
|
|
68,320 |
Total current assets |
|
516,909 |
|
|
540,271 |
Fixed assets — net |
|
558,143 |
|
|
598,134 |
|
|
1,441,185 |
|
|
1,481,725 |
Other intangible assets — net |
|
235,769 |
|
|
251,032 |
Operating lease right-of-use assets |
|
678,809 |
|
|
696,425 |
Other assets |
|
94,578 |
|
|
72,460 |
Total assets |
$ |
3,525,393 |
|
$ |
3,640,047 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||
Current liabilities: |
|
|
|
||
Current portion of long-term debt |
$ |
16,000 |
|
$ |
16,000 |
Accounts payable and accrued expenses |
|
208,458 |
|
|
197,366 |
Current portion of operating lease liabilities |
|
87,130 |
|
|
87,341 |
Deferred revenue and other current liabilities |
|
287,770 |
|
|
321,468 |
Total current liabilities |
|
599,358 |
|
|
622,175 |
Long-term debt — net |
|
968,989 |
|
|
976,396 |
Operating lease liabilities |
|
686,971 |
|
|
703,911 |
Deferred income taxes |
|
51,817 |
|
|
48,509 |
Other long-term liabilities |
|
99,272 |
|
|
109,780 |
Total liabilities |
|
2,406,407 |
|
|
2,460,771 |
Total stockholders’ equity |
|
1,118,986 |
|
|
1,179,276 |
Total liabilities and stockholders’ equity |
$ |
3,525,393 |
|
$ |
3,640,047 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
|||||
|
Six Months Ended |
||||
|
2022 |
|
2021 |
||
|
|
|
|
||
|
(In thousands) |
||||
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
||
Net income |
$ |
44,351 |
|
$ |
25,947 |
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||
Depreciation and amortization |
|
50,661 |
|
|
55,392 |
Stock-based compensation expense |
|
13,768 |
|
|
11,135 |
Loss on foreign currency forward contracts |
|
5,917 |
|
|
— |
Deferred income taxes |
|
(4,269) |
|
|
2,238 |
Other non-cash adjustments — net |
|
(451) |
|
|
513 |
Changes in assets and liabilities |
|
15,793 |
|
|
40,500 |
Net cash provided by operating activities |
|
125,770 |
|
|
135,725 |
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
||
Purchases of fixed assets — net |
|
(19,246) |
|
|
(28,463) |
Proceeds from the maturity of debt securities and sale of other investments |
|
11,009 |
|
|
10,500 |
Purchases of debt securities and other investments |
|
(7,030) |
|
|
(10,611) |
Settlement of foreign currency forward contracts |
|
(4,591) |
|
|
— |
Payments and settlements for acquisitions — net of cash acquired |
|
(3,282) |
|
|
(9,082) |
Net cash used in investing activities |
|
(23,140) |
|
|
(37,656) |
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
||
Principal payments of long-term debt |
|
(8,000) |
|
|
(5,375) |
Payments of debt issuance costs |
|
— |
|
|
(2,057) |
Purchase of treasury stock |
|
(72,554) |
|
|
(70,346) |
Proceeds from issuance of common stock upon exercise of options and restricted stock upon purchase |
|
10,554 |
|
|
28,180 |
Taxes paid related to the net share settlement of stock options and restricted stock |
|
(5,154) |
|
|
(7,142) |
Payments of contingent consideration for acquisitions |
|
(13,865) |
|
|
— |
Net cash used in financing activities |
|
(89,019) |
|
|
(56,740) |
Effect of exchange rates on cash, cash equivalents and restricted cash |
|
(2,215) |
|
|
(675) |
Net increase in cash, cash equivalents and restricted cash |
|
11,396 |
|
|
40,654 |
Cash, cash equivalents and restricted cash — beginning of period |
|
265,281 |
|
|
388,465 |
Cash, cash equivalents and restricted cash — end of period |
$ |
276,677 |
|
$ |
429,119 |
SEGMENT INFORMATION (Unaudited) |
|||||||||||||||
|
Full service
|
|
Back-up care |
|
Educational
|
|
Total |
||||||||
|
|
|
|
|
|
|
|
||||||||
|
(In thousands) |
||||||||||||||
Three Months Ended |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
371,316 |
|
|
$ |
91,714 |
|
|
$ |
27,311 |
|
|
$ |
490,341 |
|
Income from operations |
|
19,722 |
|
|
|
25,119 |
|
|
|
2,981 |
|
|
|
47,822 |
|
Adjusted income from operations (1) |
|
22,219 |
|
|
|
25,119 |
|
|
|
2,981 |
|
|
|
50,319 |
|
As a percentage of revenue |
|
6 |
% |
|
|
27 |
% |
|
|
11 |
% |
|
|
10 |
% |
|
|
|
|
|
|
|
|
||||||||
Three Months Ended |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
334,427 |
|
|
$ |
81,484 |
|
|
$ |
25,567 |
|
|
$ |
441,478 |
|
Income from operations |
|
4,062 |
|
|
|
24,769 |
|
|
|
5,181 |
|
|
|
34,012 |
|
Adjusted income from operations |
|
4,062 |
|
|
|
24,769 |
|
|
|
5,181 |
|
|
|
34,012 |
|
As a percentage of revenue |
|
1 |
% |
|
|
30 |
% |
|
|
20 |
% |
|
|
8 |
% |
(1) |
|
For the three months ended |
|
Full service
|
|
Back-up care |
|
Educational
|
|
Total |
||||||||
|
|
|
|
|
|
|
|
||||||||
|
(In thousands) |
||||||||||||||
Six Months Ended |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
725,248 |
|
|
$ |
172,558 |
|
|
$ |
52,944 |
|
|
$ |
950,750 |
|
Income from operations |
|
26,883 |
|
|
|
45,577 |
|
|
|
6,526 |
|
|
|
78,986 |
|
Adjusted income from operations (1) |
|
29,380 |
|
|
|
45,577 |
|
|
|
6,526 |
|
|
|
81,483 |
|
As a percentage of revenue |
|
4 |
% |
|
|
26 |
% |
|
|
12 |
% |
|
|
9 |
% |
|
|
|
|
|
|
|
|
||||||||
Six Months Ended |
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
624,746 |
|
|
$ |
157,839 |
|
|
$ |
49,733 |
|
|
$ |
832,318 |
|
Income (loss) from operations |
|
(13,905 |
) |
|
|
51,959 |
|
|
|
9,666 |
|
|
|
47,720 |
|
Adjusted income (loss) from operations |
|
(13,905 |
) |
|
|
51,959 |
|
|
|
9,666 |
|
|
|
47,720 |
|
As a percentage of revenue |
|
(2 |
) % |
|
|
33 |
% |
|
|
19 |
% |
|
|
6 |
% |
(1) |
|
For the six months ended |
NON-GAAP RECONCILIATIONS (Unaudited) |
|||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
2022 |
|
|
|
2021 |
|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
|
|
|
|
|
||||||||
|
(In thousands, except share data) |
||||||||||||||
Net income |
$ |
24,945 |
|
|
$ |
18,815 |
|
|
$ |
44,351 |
|
|
$ |
25,947 |
|
Interest expense — net |
|
7,942 |
|
|
|
9,580 |
|
|
|
14,988 |
|
|
|
18,596 |
|
Income tax expense |
|
9,018 |
|
|
|
5,617 |
|
|
|
13,730 |
|
|
|
3,177 |
|
Depreciation |
|
18,055 |
|
|
|
20,598 |
|
|
|
36,482 |
|
|
|
40,340 |
|
Amortization of intangible assets (a) |
|
7,030 |
|
|
|
7,512 |
|
|
|
14,179 |
|
|
|
15,052 |
|
EBITDA |
|
66,990 |
|
|
|
62,122 |
|
|
|
123,730 |
|
|
|
103,112 |
|
As a percentage of revenue |
|
14 |
% |
|
|
14 |
% |
|
|
13 |
% |
|
|
12 |
% |
Additional adjustments: |
|
|
|
|
|
|
|
||||||||
Stock-based compensation expense (b) |
|
7,672 |
|
|
|
5,829 |
|
|
|
13,768 |
|
|
|
11,135 |
|
Loss on foreign currency forward contracts (c) |
|
5,917 |
|
|
|
— |
|
|
|
5,917 |
|
|
|
— |
|
Other costs (d) |
|
2,497 |
|
|
|
— |
|
|
|
2,497 |
|
|
|
— |
|
Total adjustments |
|
16,086 |
|
|
|
5,829 |
|
|
|
22,182 |
|
|
|
11,135 |
|
Adjusted EBITDA |
$ |
83,076 |
|
|
$ |
67,951 |
|
|
$ |
145,912 |
|
|
$ |
114,247 |
|
As a percentage of revenue |
|
17 |
% |
|
|
15 |
% |
|
|
15 |
% |
|
|
14 |
% |
|
|
|
|
|
|
|
|
||||||||
Income from operations |
$ |
47,822 |
|
|
$ |
34,012 |
|
|
$ |
78,986 |
|
|
$ |
47,720 |
|
Other costs (d) |
|
2,497 |
|
|
|
— |
|
|
|
2,497 |
|
|
|
— |
|
Adjusted income from operations |
$ |
50,319 |
|
|
$ |
34,012 |
|
|
$ |
81,483 |
|
|
$ |
47,720 |
|
As a percentage of revenue |
|
10 |
% |
|
|
8 |
% |
|
|
9 |
% |
|
|
6 |
% |
|
|
|
|
|
|
|
|
||||||||
Net income |
$ |
24,945 |
|
|
$ |
18,815 |
|
|
$ |
44,351 |
|
|
$ |
25,947 |
|
Income tax expense |
|
9,018 |
|
|
|
5,617 |
|
|
|
13,730 |
|
|
|
3,177 |
|
Income before income tax |
|
33,963 |
|
|
|
24,432 |
|
|
|
58,081 |
|
|
|
29,124 |
|
Amortization of intangible assets (a) |
|
7,030 |
|
|
|
7,512 |
|
|
|
14,179 |
|
|
|
15,052 |
|
Stock-based compensation expense (b) |
|
7,672 |
|
|
|
5,829 |
|
|
|
13,768 |
|
|
|
11,135 |
|
Loss on foreign currency forward contracts (c) |
|
5,917 |
|
|
|
— |
|
|
|
5,917 |
|
|
|
— |
|
Other costs (d) |
|
2,497 |
|
|
|
— |
|
|
|
2,497 |
|
|
|
— |
|
Adjusted income before income tax |
|
57,079 |
|
|
|
37,773 |
|
|
|
94,442 |
|
|
|
55,311 |
|
Adjusted income tax expense (e) |
|
(14,966 |
) |
|
|
(7,932 |
) |
|
|
(24,606 |
) |
|
|
(11,615 |
) |
Adjusted net income |
$ |
42,113 |
|
|
$ |
29,841 |
|
|
$ |
69,836 |
|
|
$ |
43,696 |
|
As a percentage of revenue |
|
9 |
% |
|
|
7 |
% |
|
|
7 |
% |
|
|
5 |
% |
|
|
|
|
|
|
|
|
||||||||
Weighted average common shares outstanding — diluted |
|
59,252,869 |
|
|
|
61,106,792 |
|
|
|
59,334,107 |
|
|
|
61,216,383 |
|
Diluted adjusted earnings per common share |
$ |
0.71 |
|
|
$ |
0.49 |
|
|
$ |
1.18 |
|
|
$ |
0.71 |
|
(a) |
|
Amortization of intangible assets represents amortization expense, including quarterly amortization expense of |
(b) |
|
Stock-based compensation expense represents non-cash stock-based compensation expense in accordance with Accounting Standards Codification Topic 718, Compensation-Stock Compensation. |
(c) |
|
During the three months ended |
(d) |
|
Other costs represents transaction costs incurred in connection with acquisitions. |
(e) |
|
Adjusted income tax expense represents income tax expense calculated on adjusted income before income tax at an effective tax rate of approximately |
View source version on businesswire.com: https://www.businesswire.com/news/home/20220802005952/en/
Investors:
Chief Financial Officer - Bright Horizons
eboland@brighthorizons.com
617-673-8125
Senior Director of Investor Relations - Bright Horizons
michael.flanagan@brighthorizons.com
617-673-8720
Media:
Vice President - Communications - Bright Horizons
iserpa@brighthorizons.com
617-673-8044
Source:
FAQ
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