KinderCare Reports Second Quarter 2026 Financial Results
Second Quarter Highlighted by Continued Progress Across Key Growth Initiatives and Center Footprint Optimization.
Company Updates Full-Year Outlook.
Second Quarter 2026 Highlights
-
Revenue of
$697.5 million -
Income from operations of
$2.4 million -
Net loss of
$8.8 million $0.07
Non-GAAP financial measures
-
Adjusted EBITDA (1) of
$63.0 million -
Adjusted net income (1) of
$9.9 million $0.08
“Throughout the second quarter, we remained focused on our mission of providing high-quality early childhood education and care while executing our long-term strategy,” said Tom Wyatt, Chairman and Chief Executive Officer of KinderCare Learning Companies. “We expanded access to our programs in growing communities, built momentum across our early childhood education and school-age offerings, and continued aligning our center footprint to better meet the evolving needs of families.”
Mr. Wyatt continued, “We're encouraged by the progress we're making and remain focused on strengthening KinderCare for the long term. That means supporting our educators, delivering high quality early education and care, and ensuring our centers are positioned to serve families where they live and work.”
Second Quarter 2026 Financial Results
Total revenue decreased
Revenue from early childhood education centers decreased by
Revenue from before- and after-school sites increased by
Income from operations was
Net loss was
For the second quarter of 2026, adjusted EBITDA (1) decreased
As of July 4, 2026, the Company operated 1,567 early childhood education centers and 1,128 before- and after-school sites.
Balance Sheet and Liquidity
As of July 4, 2026, the Company had
During the six months ended July 4, 2026, the Company generated
2026 Outlook
Based on current trends and outlook, the Company is updating its guidance ranges for the full year 2026. Revenue is now expected to be approximately
Conference Call and Webcast
Management will host a conference call today at 5:00 pm ET to discuss the financial results for the second quarter of 2026. The conference call will be webcast live via the Company's investor relations website at https://investors.kindercare.com. A replay of the webcast will be made available on the same investor relations website shortly after the event concludes.
Interested parties may also access the conference call live over the phone by dialing 1-833-461-5787 (Toll-free) or 1-585-542-9983 (Toll) and referencing conference ID 681 245 687. Participants are asked to dial in a few minutes prior to the call to register.
A supplemental presentation of second quarter results will be available at https://investors.kindercare.com.
Footnote References
| (1) | Adjusted EBITDA, adjusted net income, and adjusted net income per common share are non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the comparable GAAP measures are included in the tables at the end of this press release. |
| (2) | Future period non-GAAP outlook, including adjusted EBITDA and adjusted net income per common share, diluted, includes adjustments for items not indicative of our core operations, which may include, without limitation, items described in the below section titled “Use of Non-GAAP Financial Measures” and in the accompanying tables. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual, or unanticipated charges, expenses or gains, or other items that may not directly correlate to the underlying performance of our business operations. The exact amounts of these adjustments are not currently determinable but may be significant. It is therefore not practicable to provide the comparable GAAP measures or reconcile this non-GAAP outlook to the most comparable GAAP measures. |
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this press release and on the related teleconference that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements. These statements include, but are not limited to, statements about the Company’s expectations or guidance regarding, among other things, future enrollment trends, the impact of occupancy initiatives on future performance, future government support for childcare (including the timing or amount of future grants, reimbursement or other forms of government assistance); future business plans, objectives or initiatives; the Company’s future financial position; future financial outlook and performance; general economic and industry trends; future operating results; and working capital and liquidity and other statements that are not statements of historical facts. When used in this press release and on the related teleconference, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “vision,” or “should,” or the negative thereof or other variations thereon or comparable terminology. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: our ability to attract and retain families in our centers, schools and programs, and to attract and retain employers that contract with us for family care benefits for their workforce; our ability to address changes in the demand for child care and workplace solutions; our ability to adjust to shifts in workforce demographics, economic conditions, office environments and unemployment rates; our business may be affected by delays, disruptions or reductions in federally funded childcare subsidies or tuition reimbursements or from reductions in certain federal, state and local government programs; our ability to hire and retain qualified teachers, management, employees, and maintain strong employee engagement; the impact of public health crises on our business, financial condition and results of operations; the negative impact of impairment of goodwill, other intangible assets or long-lived assets on our current and potentially future results of operations; our ability to address adverse publicity; our ability to acquire additional capital; risks associated with acquired centers; our substantial indebtedness could adversely affect our business; our reliance on our subsidiaries; our ability to protect our intellectual property rights; our ability to protect our information technology and that of our third-party service providers; our ability to manage the costs and liabilities of collecting, using, storing, disclosing, transferring and processing personal information; our expectations regarding the effects of existing and developing laws and regulations, litigation and regulatory proceedings; our ability to maintain adequate insurance coverage; the fluctuation in our stock price; we have a material weakness in our internal control over financial reporting; the occurrence of natural disasters, environmental contamination or other highly disruptive events; the interests of Partners Group, a controlling stockholder, may conflict with the interests of our other stockholders; and other risks and uncertainties set forth under “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended January 3, 2026 and in our other filings with the SEC. The Company does not undertake any obligation to update any forward-looking statements made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based, except as otherwise required by law.
Use of Non-GAAP Financial Measures
This press release contains certain non-GAAP financial measures, including EBIT, EBITDA, adjusted EBITDA, adjusted net income, and adjusted net income per common share. Tables showing the reconciliation of these non-GAAP financial measures to the comparable GAAP measures are included at the end of this release. Management believes these non-GAAP financial measures are useful in evaluating the Company’s operating performance, and may be helpful to securities analysts, institutional investors and other interested parties in understanding the Company’s operating performance. Management also uses these non-GAAP financial measures for budgeting and compensation purposes.
Investors are cautioned against placing undue reliance on non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures, such as net (loss) income or net (loss) income per common share. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures may have limited value for purposes of drawing comparisons between companies because different companies may calculate similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles.
About KinderCare Learning Companies™
KinderCare Learning Companies, Inc. (NYSE: KLC) is a leading private provider of early childhood and school-age education and care, KinderCare builds confidence for life in children and families from all backgrounds. KinderCare supports hardworking families in 42 states and the
- In neighborhoods, with KinderCare® Learning Centers that offer early learning programs for children six weeks to 12 years old;
- Crème School®, which offers a premium early education experience using a variety of enrichment classrooms; and
- In local schools, with Champions® before and after-school programs.
KinderCare partners with employers nationwide to address the child care needs of today’s dynamic workforce. We provide customized family care benefits for organizations, including care for young children on or near the site where their parents work, tuition benefits, and backup care where KinderCare programs are located. Headquartered in
KinderCare Learning Companies, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands) |
||||||
|
|
July 4, 2026 |
|
January 3, 2026 |
||
Assets |
|
|
|
|
||
Current assets: |
|
|
|
|
||
Cash and cash equivalents |
|
$ |
173,706 |
|
$ |
133,205 |
Accounts receivable, net |
|
|
114,312 |
|
|
118,523 |
Prepaid expenses and other current assets |
|
|
54,038 |
|
|
106,291 |
Total current assets |
|
|
342,056 |
|
|
358,019 |
Property and equipment, net |
|
|
391,559 |
|
|
417,789 |
Goodwill |
|
|
692,405 |
|
|
964,829 |
Intangible assets, net |
|
|
416,774 |
|
|
420,922 |
Operating lease right-of-use assets |
|
|
1,474,434 |
|
|
1,500,786 |
Other assets |
|
|
86,339 |
|
|
85,545 |
Total assets |
|
$ |
3,403,567 |
|
$ |
3,747,890 |
Liabilities and Shareholders' Equity |
|
|
|
|
||
Current liabilities: |
|
|
|
|
||
Accounts payable and accrued liabilities |
|
$ |
174,793 |
|
$ |
163,312 |
Current portion of long-term debt |
|
|
9,620 |
|
|
9,620 |
Operating lease liabilities—current |
|
|
162,938 |
|
|
146,594 |
Deferred revenue |
|
|
54,875 |
|
|
49,577 |
Other current liabilities |
|
|
56,893 |
|
|
115,762 |
Total current liabilities |
|
|
459,119 |
|
|
484,865 |
Long-term debt, net |
|
|
916,097 |
|
|
917,925 |
Operating lease liabilities—long-term |
|
|
1,421,301 |
|
|
1,447,524 |
Deferred income taxes, net |
|
|
34,585 |
|
|
35,454 |
Other long-term liabilities |
|
|
106,278 |
|
|
106,860 |
Total liabilities |
|
|
2,937,380 |
|
|
2,992,628 |
Total shareholders' equity |
|
|
466,187 |
|
|
755,262 |
Total liabilities and shareholders' equity |
|
$ |
3,403,567 |
|
$ |
3,747,890 |
KinderCare Learning Companies, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share data and percentages) |
||||||||||||||
|
|
Three Months Ended |
||||||||||||
|
|
July 4, 2026 |
|
June 28, 2025 |
||||||||||
Revenue |
|
$ |
697,522 |
|
|
|
|
$ |
700,110 |
|
|
|
||
Costs and expenses: |
|
|
|
|
|
|
|
|
||||||
Cost of services (excluding depreciation and impairment) |
|
|
567,434 |
|
|
81.3 |
% |
|
|
519,477 |
|
|
74.2 |
% |
Depreciation and amortization |
|
|
31,699 |
|
|
4.5 |
% |
|
|
31,074 |
|
|
4.4 |
% |
Selling, general, and administrative expenses |
|
|
73,068 |
|
|
10.5 |
% |
|
|
78,648 |
|
|
11.2 |
% |
Impairment losses |
|
|
22,923 |
|
|
3.3 |
% |
|
|
2,235 |
|
|
0.3 |
% |
Total costs and expenses |
|
|
695,124 |
|
|
99.7 |
% |
|
|
631,434 |
|
|
90.2 |
% |
Income from operations |
|
|
2,398 |
|
|
0.3 |
% |
|
|
68,676 |
|
|
9.8 |
% |
Interest expense |
|
|
18,255 |
|
|
2.6 |
% |
|
|
20,073 |
|
|
2.9 |
% |
Interest income |
|
|
(970 |
) |
|
(0.1 |
%) |
|
|
(1,424 |
) |
|
(0.2 |
%) |
Other income, net |
|
|
(4,342 |
) |
|
(0.6 |
%) |
|
|
(3,049 |
) |
|
(0.4 |
%) |
(Loss) income before income taxes |
|
|
(10,545 |
) |
|
(1.5 |
%) |
|
|
53,076 |
|
|
7.6 |
% |
Income tax (benefit) expense |
|
|
(1,775 |
) |
|
(0.3 |
%) |
|
|
14,488 |
|
|
2.1 |
% |
Net (loss) income |
|
$ |
(8,770 |
) |
|
(1.3 |
%) |
|
$ |
38,588 |
|
|
5.5 |
% |
Net (loss) income per common share: |
|
|
|
|
|
|
|
|
||||||
Basic |
|
$ |
(0.07 |
) |
|
|
|
$ |
0.33 |
|
|
|
||
Diluted |
|
$ |
(0.07 |
) |
|
|
|
$ |
0.33 |
|
|
|
||
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
||||||
Basic |
|
|
118,798 |
|
|
|
|
|
118,309 |
|
|
|
||
Diluted |
|
|
118,798 |
|
|
|
|
|
118,371 |
|
|
|
||
KinderCare Learning Companies, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share data and percentages) |
||||||||||||||
|
|
Six Months Ended |
||||||||||||
|
|
July 4, 2026 |
|
June 28, 2025 |
||||||||||
Revenue |
|
$ |
1,370,044 |
|
|
|
|
$ |
1,368,354 |
|
|
|
||
Costs and expenses: |
|
|
|
|
|
|
|
|
||||||
Cost of services (excluding depreciation and impairment) |
|
|
1,118,357 |
|
|
81.6 |
% |
|
|
1,035,665 |
|
|
75.7 |
% |
Depreciation and amortization |
|
|
62,776 |
|
|
4.6 |
% |
|
|
61,051 |
|
|
4.5 |
% |
Selling, general, and administrative expenses |
|
|
144,197 |
|
|
10.5 |
% |
|
|
150,375 |
|
|
11.0 |
% |
Impairment losses |
|
|
314,398 |
|
|
22.9 |
% |
|
|
3,745 |
|
|
0.3 |
% |
Total costs and expenses |
|
|
1,639,728 |
|
|
119.7 |
% |
|
|
1,250,836 |
|
|
91.4 |
% |
(Loss) income from operations |
|
|
(269,684 |
) |
|
(19.7 |
%) |
|
|
117,518 |
|
|
8.6 |
% |
Interest expense |
|
|
36,475 |
|
|
2.7 |
% |
|
|
40,181 |
|
|
2.9 |
% |
Interest income |
|
|
(1,812 |
) |
|
(0.1 |
%) |
|
|
(2,083 |
) |
|
(0.2 |
%) |
Other income, net |
|
|
(3,435 |
) |
|
(0.3 |
%) |
|
|
(2,651 |
) |
|
(0.2 |
%) |
(Loss) income before income taxes |
|
|
(300,912 |
) |
|
(22.0 |
%) |
|
|
82,071 |
|
|
6.0 |
% |
Income tax (benefit) expense |
|
|
(2,310 |
) |
|
(0.2 |
%) |
|
|
22,326 |
|
|
1.6 |
% |
Net (loss) income |
|
$ |
(298,602 |
) |
|
(21.8 |
%) |
|
$ |
59,745 |
|
|
4.4 |
% |
Net (loss) income per common share: |
|
|
|
|
|
|
|
|
||||||
Basic |
|
$ |
(2.52 |
) |
|
|
|
$ |
0.51 |
|
|
|
||
Diluted |
|
$ |
(2.52 |
) |
|
|
|
$ |
0.50 |
|
|
|
||
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
||||||
Basic |
|
|
118,648 |
|
|
|
|
|
118,274 |
|
|
|
||
Diluted |
|
|
118,648 |
|
|
|
|
|
118,346 |
|
|
|
||
KinderCare Learning Companies, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) |
||||||||
|
|
Six Months Ended |
||||||
|
|
July 4, 2026 |
|
June 28, 2025 |
||||
Operating activities: |
|
|
|
|
||||
Net (loss) income |
|
$ |
(298,602 |
) |
|
$ |
59,745 |
|
Adjustments to reconcile net (loss) income to cash provided by operating activities: |
|
|
|
|
||||
Depreciation and amortization |
|
|
62,776 |
|
|
|
61,051 |
|
Impairment losses |
|
|
314,398 |
|
|
|
3,745 |
|
Change in deferred taxes |
|
|
(2,781 |
) |
|
|
(1,963 |
) |
Amortization of debt issuance costs |
|
|
2,982 |
|
|
|
3,189 |
|
Stock-based compensation |
|
|
4,171 |
|
|
|
7,309 |
|
Realized and unrealized losses from investments held in deferred compensation asset trusts |
|
|
(2,354 |
) |
|
|
(1,978 |
) |
Gain on disposal of property and equipment |
|
|
— |
|
|
|
(97 |
) |
Changes in assets and liabilities, net of effects of acquisitions |
|
|
23,892 |
|
|
|
2,489 |
|
Cash provided by operating activities |
|
|
104,482 |
|
|
|
133,490 |
|
Investing activities: |
|
|
|
|
||||
Purchases of property and equipment |
|
|
(58,005 |
) |
|
|
(57,735 |
) |
Payments for acquisitions, net of cash acquired |
|
|
(995 |
) |
|
|
(14,560 |
) |
Proceeds from the disposal of property and equipment |
|
|
— |
|
|
|
169 |
|
Investments in deferred compensation asset trusts |
|
|
(3,537 |
) |
|
|
(3,667 |
) |
Proceeds from deferred compensation asset trust redemptions |
|
|
4,070 |
|
|
|
3,603 |
|
Cash used in investing activities |
|
|
(58,467 |
) |
|
|
(72,190 |
) |
Financing activities: |
|
|
|
|
||||
Payments of deferred offering costs |
|
|
— |
|
|
|
(275 |
) |
Principal payments of long-term debt |
|
|
(4,810 |
) |
|
|
(2,417 |
) |
Payments of debt issuance costs |
|
|
— |
|
|
|
(269 |
) |
Repayments of promissory notes |
|
|
(149 |
) |
|
|
(165 |
) |
Payments of financing lease obligations |
|
|
(511 |
) |
|
|
(689 |
) |
Tax payments related to net settlement of restricted stock units |
|
|
(138 |
) |
|
|
(786 |
) |
Cash used in financing activities |
|
|
(5,608 |
) |
|
|
(4,601 |
) |
Net change in cash, cash equivalents, and restricted cash |
|
|
40,407 |
|
|
|
56,699 |
|
Cash, cash equivalents, and restricted cash at beginning of period |
|
|
133,299 |
|
|
|
62,430 |
|
Cash, cash equivalents, and restricted cash at end of period |
|
$ |
173,706 |
|
|
$ |
119,129 |
|
KinderCare Learning Companies, Inc. Consolidated Non-GAAP Measures (Unaudited) (In thousands, except per share data) |
||||||||||||||||
The following table shows EBIT, EBITDA, and adjusted EBITDA for the periods presented, and the reconciliation to its most comparable GAAP measure, net (loss) income, for the periods presented: |
||||||||||||||||
|
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
July 4, |
|
June 28, |
|
July 4, |
|
June 28, |
||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
Net (loss) income |
|
$ |
(8,770 |
) |
|
$ |
38,588 |
|
|
$ |
(298,602 |
) |
|
$ |
59,745 |
|
Add back: |
|
|
|
|
|
|
|
|
||||||||
Interest expense |
|
|
18,255 |
|
|
|
20,073 |
|
|
|
36,475 |
|
|
|
40,181 |
|
Interest income |
|
|
(970 |
) |
|
|
(1,424 |
) |
|
|
(1,812 |
) |
|
|
(2,083 |
) |
Income tax (benefit) expense |
|
|
(1,775 |
) |
|
|
14,488 |
|
|
|
(2,310 |
) |
|
|
22,326 |
|
EBIT |
|
$ |
6,740 |
|
|
$ |
71,725 |
|
|
$ |
(266,249 |
) |
|
$ |
120,169 |
|
Add back: |
|
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
|
|
31,699 |
|
|
|
31,074 |
|
|
|
62,776 |
|
|
|
61,051 |
|
EBITDA |
|
$ |
38,439 |
|
|
$ |
102,799 |
|
|
$ |
(203,473 |
) |
|
$ |
181,220 |
|
Add back: |
|
|
|
|
|
|
|
|
||||||||
Impairment losses (1) |
|
|
22,923 |
|
|
|
2,235 |
|
|
|
314,398 |
|
|
|
3,745 |
|
Stock-based compensation (2) |
|
|
1,663 |
|
|
|
3,461 |
|
|
|
4,171 |
|
|
|
7,534 |
|
COVID-19 Related Stimulus, net (3) |
|
|
— |
|
|
|
(26,050 |
) |
|
|
— |
|
|
|
(26,713 |
) |
Other costs (4) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
210 |
|
Adjusted EBITDA |
|
$ |
63,025 |
|
|
$ |
82,445 |
|
|
$ |
115,096 |
|
|
$ |
165,996 |
|
The following table shows adjusted net income and adjusted net income per common share for the periods presented and the reconciliation to the most comparable GAAP measure, net (loss) income and net (loss) income per common share, respectively, for the periods presented: |
||||||||||||||||
|
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
July 4, |
|
June 28, |
|
July 4, |
|
June 28, |
||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
Net (loss) income |
|
$ |
(8,770 |
) |
|
$ |
38,588 |
|
|
$ |
(298,602 |
) |
|
$ |
59,745 |
|
Income tax (benefit) expense |
|
|
(1,775 |
) |
|
|
14,488 |
|
|
|
(2,310 |
) |
|
|
22,326 |
|
Net (loss) income before income tax |
|
$ |
(10,545 |
) |
|
$ |
53,076 |
|
|
$ |
(300,912 |
) |
|
$ |
82,071 |
|
Add back: |
|
|
|
|
|
|
|
|
||||||||
Amortization of intangible assets |
|
|
2,074 |
|
|
|
2,309 |
|
|
|
4,148 |
|
|
|
4,618 |
|
Impairment losses (1) |
|
|
22,923 |
|
|
|
2,235 |
|
|
|
314,398 |
|
|
|
3,745 |
|
Stock-based compensation (2) |
|
|
1,663 |
|
|
|
3,461 |
|
|
|
4,171 |
|
|
|
7,534 |
|
COVID-19 Related Stimulus, net (3) |
|
|
— |
|
|
|
(26,050 |
) |
|
|
— |
|
|
|
(26,713 |
) |
Other costs (4) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
210 |
|
Adjusted income before income tax |
|
|
16,115 |
|
|
|
35,031 |
|
|
|
21,805 |
|
|
|
71,465 |
|
Adjusted income tax expense (5) |
|
|
6,222 |
|
|
|
9,042 |
|
|
|
7,691 |
|
|
|
18,445 |
|
Adjusted net income |
|
$ |
9,893 |
|
|
$ |
25,989 |
|
|
$ |
14,114 |
|
|
$ |
53,020 |
|
Net (loss) income per common share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
(0.07 |
) |
|
$ |
0.33 |
|
|
$ |
(2.52 |
) |
|
$ |
0.51 |
|
Diluted |
|
$ |
(0.07 |
) |
|
$ |
0.33 |
|
|
$ |
(2.52 |
) |
|
$ |
0.50 |
|
Adjusted net income per common share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
0.08 |
|
|
$ |
0.22 |
|
|
$ |
0.12 |
|
|
$ |
0.45 |
|
Diluted |
|
$ |
0.08 |
|
|
$ |
0.22 |
|
|
$ |
0.12 |
|
|
$ |
0.45 |
|
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
118,798 |
|
|
|
118,309 |
|
|
|
118,648 |
|
|
|
118,274 |
|
Diluted |
|
|
118,798 |
|
|
|
118,371 |
|
|
|
118,648 |
|
|
|
118,346 |
|
Explanation of add backs: |
|
| (1) |
Represents impairment charges for goodwill and long-lived assets. Goodwill impairment recognized during the six months ended July 4, 2026 of |
| (2) | Represents non-cash stock based compensation expense in accordance with Accounting Standards Codification (“ASC”) 718, Compensation: Stock Compensation. |
| (3) |
Includes expense reimbursements and revenue arising from the COVID-19 pandemic, net of pass-through expenses incurred as a result of certain grant requirements. During both the three and six months ended June 28, 2025, we recognized |
| (4) |
For the six months ended June 28, 2025, other costs include |
| (5) |
Includes the tax effect of the non-GAAP adjustments, calculated using the appropriate federal and state statutory tax rate and the applicable tax treatment for each adjustment. The non-GAAP tax rate was |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260813429154/en/
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