\nBright Horizons Family Solutions\u00ae<\/sup> Inc. (NYSE: BFAM) today announced financial results for the third quarter of 2026 and provided revised financial guidance for 2026. Bright Horizons is a leading provider of high-quality early education and child care, comprehensive back-up care solutions, and educational advisory services. Our offerings support both working families and employers\u2019 workforce strategies by supporting their employees across life and career stages, and improving employee recruitment, engagement, productivity, retention, and career advancement.<\/p>\n
Third Quarter 2026 Highlights (compared to Third Quarter 2025):<\/b><\/p>\n Non-GAAP financial measures<\/span><\/p>\n \n\u201cOur third quarter results reflect the strength of our diversified portfolio, with revenue up 5%, including 13% growth in back-up care,\u201d said Stephen Kramer, Chief Executive Officer. \u201cThis fall, we were proud to celebrate 40 years of partnering with leading employers to support working families. Our commitment to providing safe, nurturing environments and high-quality care and education for the children and families we serve has guided us since our start in 1986, and I am grateful to our global team, whose dedication brings that commitment to life every day.\u201d<\/p>\n Third Quarter 2026 Results<\/b><\/p>\n \nRevenue increased by $38.7 million, or 5%, to $841.5 million in the third quarter of 2026 from the third quarter of 2025, primarily due to growth in back-up care, partially offset by the reductions in revenue from full service centers that have closed over the last 12 months.<\/p>\n \nLoss from operations was $187.1 million for the third quarter of 2026 compared to income from operations of $120.8 million for the third quarter of 2025. The decrease in income from operations is primarily related to impairment losses of $294.0 million within the international full service operations, partially offset by increased service levels and contributions from our back-up care segment. We had a net loss of $230.7 million for the third quarter of 2026 compared to net income of $78.6 million for the third quarter of 2025 due to the decrease in income from operations noted above, a higher effective tax rate and higher interest expense. Diluted loss per common share was $4.76 for the third quarter of 2026 compared to earnings per common share of $1.37 for the third quarter of 2025.<\/p>\n \nIn the third quarter of 2026, adjusted EBITDA* increased by $7.2 million, or 5%, to $163.3 million, and adjusted income from operations* increased by $5.7 million, or 5%, to $130.2 million from the third quarter of 2025, primarily due to increased service levels and contributions from the back-up care segment. Adjusted net income* was $87.5 million, a decrease from adjusted net income of $90.1 million in the same period in the prior year, as a result of higher interest expense and an increase to the adjusted effective tax rate, partially offset by the increase in adjusted income from operations noted above. Diluted adjusted earnings per common share* was $1.80 for the third quarter of 2026 compared to $1.57 for the third quarter of 2025.<\/p>\n \nAs of September 30, 2026, the Company operated 979 early education and child care centers with the capacity to serve approximately 112,500 children and their families.<\/p>\n *Adjusted EBITDA, adjusted income from operations, adjusted net income and diluted adjusted earnings per common share are financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (\u201cGAAP\u201d), which are commonly referred to as \u201cnon-GAAP financial measures.\u201d Adjusted EBITDA represents EBITDA (which is net income (loss), as determined in accordance with GAAP, before interest expense, income tax expense, depreciation, and amortization) adjusted to exclude stock-based compensation expense, impairment losses, incremental general liability expense, debt refinancing costs, lease termination costs, and, at times, other non-recurring costs, such as transaction costs. Adjusted income from operations represents income (loss) from operations, as determined in accordance with GAAP, adjusted to exclude impairment losses, incremental general liability expense, debt refinancing costs, lease termination costs, and, at times, other non-recurring costs, such as transaction costs. Adjusted net income represents net income (loss), as determined in accordance with GAAP, adjusted to exclude amortization, stock-based compensation expense, impairment losses, incremental general liability expense, debt refinancing costs, lease termination costs, interest related to pre-acquisition obligations, and, at times, other non-recurring costs, such as transaction costs, and the income tax provision (benefit) thereon. Diluted adjusted earnings per common share is calculated using adjusted net income. These non-GAAP financial measures are more fully described and are reconciled from the respective measures determined under GAAP in \u201cPresentation of Non-GAAP Financial Measures\u201d and the attached table \u201cBright Horizons Family Solutions Inc. Non-GAAP Reconciliations,\u201d respectively.<\/i><\/p>\n Balance Sheet and Liquidity<\/b><\/p>\n \nAt September 30, 2026, the Company had $119.2 million of cash and cash equivalents and $436.0 million available for borrowing under its revolving credit facility. In the nine months ended September 30, 2026, we generated $208.1 million of cash from operations, compared to $202.8 million for the same period in 2025, repurchased approximately 7.7 million shares totaling $557.7 million compared to approximately 0.9 million shares totaling $106.0 million for the same period in the prior year, and made net investments totaling $71.8 million, compared to $63.5 million for the same period in the prior year.<\/p>\n 2026 Outlook<\/b><\/p>\n \nBased on current trends and expectations, we currently expect fiscal year 2026 revenue to be approximately $3.07 billion and diluted adjusted earnings per common share to be in the range of $4.98 to $5.03. The Company will provide additional information on its outlook during its earnings conference call.<\/p>\n Conference Call<\/b><\/p>\n \nBright Horizons Family Solutions will host an investor conference call today at 5:00 pm ET to discuss the results for the third quarter of 2026, as well as the Company\u2019s updated business outlook and strategy. Interested parties are invited to listen to the conference call by dialing 1-844-539-3703, or for international callers, 1-412-652-1273, and asking for the Bright Horizons Family Solutions conference call moderated by Chief Executive Officer Stephen Kramer. Replays of the entire call will be available through November 12, 2026 at 1-844-512-2921, or for international callers, at 1-412-317-6671, conference ID #13758194. A link to the audio webcast of the conference call and a copy of this press release are also available through the Investor Relations section of the Company\u2019s web site, investors.brighthorizons.com<\/a><\/i>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis 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\u2019s 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 \u201cbelieves,\u201d \u201cexpects,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cseeks,\u201d \u201cprojects,\u201d \u201capproximately,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cestimates\u201d or \u201canticipates,\u201d 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\u2019s intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, operating expectations, execution and delivery of our services and solutions, our model, business trends, value and quality of our service offerings, our future growth opportunities, enrollment levels and trends in jurisdictions, utilization of services, margins, back-up care contributions, our investments, long-term growth strategy, cash flows, estimated effective tax rate, tax expense, our future business and financial performance, our client partners and relationships, use and impact of our services, our share repurchase activity and our 2026 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, 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 workforce demographics and work environments; the constrained labor market for teachers and staff and ability to hire and retain talent, including the impact of increased compensation and labor costs; the availability or lack of government support programs, and the impact of available government child care benefit programs; our ability to respond to changing client and customer needs; competition in our industry; the possibility that acquisitions may disrupt our operations and expose us to additional risk; our ability to pass on our increased costs; our ability to maintain applicable licenses and registrations in the jurisdictions in which we operate; 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; our ability to close underperforming centers or exit lease arrangements; changes in general economic, political, business and financial market conditions and other macroeconomic events and uncertainty, including the impact of inflation and interest rate fluctuations; fluctuations in currency exchange rates; the effects of a cyber-attack, data breach or other security incident on our information technology system or software or those of our third party vendors; changes in tax rates or policies; damage or harm to our brand or reputation or negative public perception, including as a result of recent incidents and media coverage; outcome of legal matters, claims, allegations, actual or threatened litigation and regulatory investigations and reviews; insurance risks including self-insured risks and excess coverage; changes in laws and regulations; and other risks and uncertainties more fully described in the \u201cRisk Factors\u201d section of our Annual Report on Form 10-K filed on February 26, 2026, and other factors disclosed from time to time in our other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the time of this release and we do not undertake to publicly update or revise them, whether as a result of new information, future events or otherwise, except as required by law.<\/p>\n Presentation of Non-GAAP Financial Measures<\/b><\/p>\n \nIn addition to the results provided in accordance with GAAP throughout this press release, the Company has provided certain non-GAAP financial measures that present operating results on a basis adjusted for certain items. The Company uses these non-GAAP financial measures as key performance indicators for the purpose of evaluating performance internally, and in connection with determining incentive compensation for Company management, including executive officers. Adjusted EBITDA is also used in connection with the determination of certain ratio requirements under our credit agreement. We believe that these non-GAAP financial measures provide investors with useful information with respect to our historical operations. These non-GAAP financial measures are not intended to replace, and should not be considered superior to, the presentation of our financial results in accordance with GAAP. The use of the terms adjusted EBITDA, adjusted income from operations, adjusted net income and diluted adjusted earnings per common share may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures.<\/p>\n \nWith 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 net excess income tax benefits or shortfalls, future impairments, lease termination costs, 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\u2019s 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.<\/p>\n \nFor more information regarding adjusted EBITDA, adjusted income from operations, adjusted net income and diluted adjusted earnings per common share, refer to the reconciliation of GAAP financial measures to the non-GAAP financial measures in the attached table \u201cBright Horizons Family Solutions Inc. Non-GAAP Reconciliations.\u201d<\/p>\n About Bright Horizons Family Solutions Inc.<\/b><\/p>\n \nBright Horizons\u00ae<\/sup> is a leading provider of high-quality early education and child care, back-up care, and workforce education services. For 40 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 1,000 early education and child care centers in the United States, the United Kingdom, the Netherlands, Australia and India, and serves more than 1,450 of the world\u2019s leading employers. Bright Horizons\u2019 early education and child care centers, back-up child and elder care, and workforce education programs help employees succeed at each life and career stage. For more information, go to www.brighthorizons.com<\/a><\/span>.<\/p>\n BRIGHT HORIZONS FAMILY SOLUTIONS INC.<\/b><\/p>\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)<\/b><\/p>\n (In thousands, except share data)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nRevenue<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 841,471<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 100.0<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n802,812<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nCost of services<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 636,645<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 75.7<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n585,763<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 204,826<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 24.3<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n217,049<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 100,824<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12.0<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n94,726<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nGoodwill impairment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 290,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 34.4<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,135<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 0.1<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,477<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nIncome (loss) from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (187,133<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (22.2<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n120,846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nInterest expense \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (17,195<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (2.1<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12,212<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.6<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nIncome (loss) before income tax<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (204,328<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (24.3<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n108,634<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (26,362<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (3.1<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(30,082<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3.7<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (230,690<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (27.4<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n78,552<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEarnings (loss) per common share:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 basic<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (4.76<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.38<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 diluted<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (4.76<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.37<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average common shares outstanding:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 basic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 48,425,768<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,927,187<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 diluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 48,425,768<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,377,773<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n BRIGHT HORIZONS FAMILY SOLUTIONS INC.<\/b><\/p>\n CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)<\/b><\/p>\n (In thousands, except share data)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Nine Months Ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nRevenue<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,332,871<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 100.0<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,199,909<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nCost of services<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,775,592<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 76.1<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,644,573<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n74.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 557,279<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 23.9<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n555,336<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 299,904<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12.9<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n281,421<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nGoodwill impairment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 296,275<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12.7<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,467<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 0.1<\/b><\/p>\n<\/td>\n %<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,745<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nIncome (loss) from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (42,367<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1.8<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n269,170<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nInterest expense \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (43,240<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1.9<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(33,118<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.5<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nIncome (loss) before income tax<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (85,607<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (3.7<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n236,052<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (70,340<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (3.0<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(64,676<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.9<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (155,947<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (6.7<\/b><\/p>\n<\/td>\n )%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n171,376<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEarnings (loss) per common share:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 basic<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (3.03<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3.00<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 diluted<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (3.03<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.97<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average common shares outstanding:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 basic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 51,434,157<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,188,938<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock \u2014 diluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 51,434,157<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,680,543<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n BRIGHT HORIZONS FAMILY SOLUTIONS INC.<\/b><\/p>\n CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n (In thousands)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n September 30, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nDecember 31, 2025<\/p>\n<\/td>\n<\/tr>\n ASSETS<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCurrent assets:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 119,230<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n140,091<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 244,603<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n293,983<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 80,845<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69,899<\/p>\n<\/td>\n<\/tr>\n \nTotal current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 444,678<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n503,973<\/p>\n<\/td>\n<\/tr>\n \nFixed assets \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 566,030<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n574,200<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,532,162<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,824,175<\/p>\n<\/td>\n<\/tr>\n \nOther intangible assets \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 186,479<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n193,452<\/p>\n<\/td>\n<\/tr>\n \nOperating lease right-of-use assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 620,508<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n682,069<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 129,689<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n111,734<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 3,479,546<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,889,603<\/p>\n<\/td>\n<\/tr>\n LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCurrent liabilities:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of long-term debt<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 9,375<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of revolving credit facility<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 283,087<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n199,552<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable and accrued expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 327,178<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n292,812<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of operating lease liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 111,291<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n110,229<\/p>\n<\/td>\n<\/tr>\n \nDeferred revenue<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 229,633<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n330,647<\/p>\n<\/td>\n<\/tr>\n \nOther current liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 31,592<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,925<\/p>\n<\/td>\n<\/tr>\n \nTotal current liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 992,156<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n966,165<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,069,892<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n747,614<\/p>\n<\/td>\n<\/tr>\n \nOperating lease liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 635,735<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n702,845<\/p>\n<\/td>\n<\/tr>\n \nOther long-term liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 120,235<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n118,815<\/p>\n<\/td>\n<\/tr>\n \nDeferred income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 23,141<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,873<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2,841,159<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,550,312<\/p>\n<\/td>\n<\/tr>\n \nTotal stockholders\u2019 equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 638,387<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,339,291<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities and stockholders\u2019 equity<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 3,479,546<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,889,603<\/p>\n<\/td>\n<\/tr>\n<\/table>\n BRIGHT HORIZONS FAMILY SOLUTIONS INC.<\/b><\/p>\n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n (In thousands)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Nine Months Ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n CASH FLOWS FROM OPERATING ACTIVITIES:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (155,947<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n171,376<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjustments to reconcile net income (loss) to net cash provided by operating activities:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill impairment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 296,275<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 73,027<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 22,273<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,512<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLong-lived asset impairment and other non-cash items<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 22,091<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,190<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 7,362<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,491<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nChanges in assets and liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (57,006<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(73,432<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet cash provided by operating activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 208,075<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n202,792<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n CASH FLOWS FROM INVESTING ACTIVITIES:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPurchases of fixed assets \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (69,441<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(58,907<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nProceeds from debt securities and other investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 15,066<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,287<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPurchases of debt securities and other investments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (17,425<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,760<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPayments and settlements for acquisitions \u2014 net of cash acquired<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,106<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet cash used in investing activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (71,800<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(63,486<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n CASH FLOWS FROM FINANCING ACTIVITIES:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRevolving credit facility \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 46,006<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n469,282<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBorrowings of long-term debt \u2014 net of issuance costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 373,610<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPrincipal payments of long-term debt<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (2,344<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(501,000<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPayments of revolving credit facility debt issuance costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (371<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,046<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPurchase of treasury stock<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (559,578<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(104,671<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTaxes paid related to the net share settlement of equity awards<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (8,214<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15,229<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nProceeds from issuance of common stock upon exercise of options<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,826<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet cash used in financing activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (150,891<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(142,838<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nEffect of exchange rates on cash, cash equivalents and restricted cash<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (1,537<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet (decrease) increase in cash, cash equivalents and restricted cash<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (16,153<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,254<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash, cash equivalents and restricted cash \u2014 beginning of period<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 143,158<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n123,715<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash, cash equivalents and restricted cash \u2014 end of period<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 127,005<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n125,969<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n BRIGHT HORIZONS FAMILY SOLUTIONS INC.<\/b><\/p>\n SEGMENT INFORMATION<\/b><\/p>\n (In thousands)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Full service \n\u00a0<\/p>\n<\/td>\n Back-up care<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Educational \n\u00a0<\/p>\n<\/td>\n Total<\/b><\/p>\n<\/td>\n<\/tr>\n Three Months Ended September 30, 2026<\/span><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 521,973<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 286,364<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 33,134<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 841,471<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Income (loss) from operations<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (298,128<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 101,234<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 9,761<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (187,133<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n Adjusted income from operations (1)<\/sup><\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 19,231<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 101,234<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 9,761<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 130,226<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 4<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 35<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 29<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 15<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Three Months Ended September 30, 2025<\/span><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRevenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n515,507<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n253,372<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n33,933<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n802,812<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,750<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,332<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,764<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n120,846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted income from operations (2)<\/sup><\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 20,400<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 95,332<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 8,764<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 124,496<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 4<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 38<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 26<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 16<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \n(2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Full service \n\u00a0<\/p>\n<\/td>\n Back-up care<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Educational \n\u00a0<\/p>\n<\/td>\n Total<\/b><\/p>\n<\/td>\n<\/tr>\n Nine Months Ended September 30, 2026<\/span><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Revenue<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,619,904<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 624,619<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 88,348<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,332,871<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Income (loss) from operations<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (236,163<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 177,084<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 16,712<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (42,367<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n Adjusted income from operations (1)<\/sup><\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 100,334<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 177,084<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 16,712<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 294,130<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 6<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 28<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 19<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 13<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Nine Months Ended September 30, 2025<\/span><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRevenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,566,321<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n544,654<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n88,934<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,199,909<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n90,284<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n162,639<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,247<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n269,170<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted income from operations (2)<\/sup><\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 93,934<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 162,639<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 16,247<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 272,820<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 6<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 30<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 18<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n(1)<\/p>\n<\/td>\n \n(2)<\/p>\n<\/td>\n BRIGHT HORIZONS FAMILY SOLUTIONS INC.<\/b><\/p>\n NON-GAAP RECONCILIATIONS<\/b><\/p>\n (In thousands, except share data)<\/b><\/p>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended September 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Nine Months Ended September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (230,690<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n78,552<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (155,947<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n171,376<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense \u2014 net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 17,195<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,212<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 43,240<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 26,362<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,082<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 70,340<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n64,676<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 24,090<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,569<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 69,560<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63,910<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,135<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,477<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,467<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,745<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n EBITDA<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (161,908<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n144,892<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 30,660<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n337,825<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (19<\/i><\/b><\/p>\n<\/td>\n )%<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 18<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 15<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n<\/tr>\n Additional adjustments:<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill impairment (a)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 290,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 296,275<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther costs (b)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 27,359<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,650<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 40,222<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,650<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense (c)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 7,817<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,526<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 22,273<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,512<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal adjustments<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 325,176<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,176<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 358,770<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,162<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 163,268<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n156,068<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 389,430<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n363,987<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 19<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 19<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 17<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 17<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome (loss) from operations<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (187,133<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n120,846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (42,367<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n269,170<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill impairment (a)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 290,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 296,275<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther costs (b)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 27,359<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,650<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 40,222<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,650<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Adjusted income from operations<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 130,226<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n124,496<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 294,130<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n272,820<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 15<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 16<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 13<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 12<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income (loss)<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (230,690<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n78,552<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (155,947<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n171,376<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 26,362<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,082<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 70,340<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n64,676<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome (loss) before income tax<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (204,328<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n108,634<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (85,607<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n236,052<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,135<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,477<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 3,467<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,745<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill impairment (a)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 290,000<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 296,275<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther costs (b)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 27,359<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,650<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 40,222<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,650<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense (c)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 7,817<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,526<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 22,273<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,512<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther interest costs (d)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,186<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,737<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted income before income tax<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 121,983<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n123,473<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 276,630<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n269,696<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted income tax expense (e)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (34,460<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(33,338<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (78,152<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(73,338<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjusted net income<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 87,523<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n90,135<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 198,478<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n196,358<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n As a percentage of revenue<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 10<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 11<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 9<\/i><\/b><\/p>\n<\/td>\n %<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 9<\/i><\/p>\n<\/td>\n %<\/i><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average common shares outstanding \u2014 diluted (f)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 48,709,897<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,377,773<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 51,723,713<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57,680,543<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Diluted adjusted earnings per common share (g)<\/sup><\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1.80<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.57<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 3.84<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3.40<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n
\n
\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
\n
<\/b>center-based
\n
<\/b>child care<\/b><\/p>\n<\/td>\n\n \n \n \n
\n
<\/b>advisory services<\/b><\/p>\n<\/td>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n For the three months ended September 30, 2026, adjusted income from operations for the full service center-based child care segment represents loss from operations excluding goodwill impairment of $290.0 million, impairment losses for long-lived assets of $4.0 million, and incremental expense of $23.4 million related to general liability reserves for certain safeguarding matters.<\/td>\n<\/tr>\n \n \n \n For the three months ended September 30, 2025, adjusted income from operations for the full service center-based child care segment represents income from operations excluding $1.3 million of costs incurred in connection with the August 2025 debt refinancing and $2.4 million of net lease termination costs.<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n
\n
<\/b>center-based
\n
<\/b>child care<\/b><\/p>\n<\/td>\n\n \n \n \n
\n
<\/b>advisory services<\/b><\/p>\n<\/td>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n For the nine months ended September 30, 2026, adjusted income from operations for the full service center-based child care segment represents loss from operations excluding goodwill impairment of $296.3 million, impairment losses for long-lived assets of $16.8 million, and incremental expense of $23.4 million related to general liability reserves for certain safeguarding matters.<\/td>\n<\/tr>\n \n \n \n For the nine months ended September 30, 2025, adjusted income from operations for the full service center-based child care segment represents income from operations excluding $1.3 million of costs incurred in connection with the August 2025 debt refinancing and $2.4 million of net lease termination costs.<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
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