Revenue and Profit Growth
KinderCare's first quarter revenue grew by 2% to $668 million, driven by stable tuition growth and an increased number of centers and sites. Adjusted EBITDA increased by 12% year-over-year to $84 million, highlighting strong profitability and operational leverage.
Expansion and Acquisitions
KinderCare added 10 centers, including an acquisition in Idaho, and expanded the Champions segment with 19 new sites. The company expects to continue growing its pipeline of new center openings and tuck-in acquisitions throughout the year.
B2B Growth and Partnerships
The B2B platform continues to grow with new partnerships, including Dollar General, LG Energy Solutions, and Hand and Stone Massage. Two new KinderCare For Employer centers opened in Q1, indicating strong demand for employer-based childcare solutions.
Operational Efficiency
General and administrative expenses were down as a percentage of revenue, demonstrating KinderCare's effective cost management and operational efficiency.
Awards and Recognition
KinderCare received Gallup's Exceptional Workplace Award for the ninth consecutive year, underscoring its strong workplace culture and employee engagement.