KinderCare Learning Companies (KLC)
Market Price (9/26/2026): $2.12 | Market Cap: $251.9 MilSector: Consumer Discretionary | Industry: Education Services
KinderCare Learning Companies (KLC)
Market Price (9/26/2026): $2.12Market Cap: $251.9 MilSector: Consumer DiscretionaryIndustry: Education Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 32% Megatrend and thematic driversMegatrends include Future of Work & Workforce Support. Themes include Childcare Services, and Early Childhood Education. | Weak multi-year price returns2Y Excs Rtn is -128%, 3Y Excs Rtn is -168% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 928% Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.4% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -191% Key risksKLC key risks include [1] a securities class action lawsuit alleging IPO misrepresentation regarding child safety failures and [2] significant financial vulnerability due to its heavy reliance on government subsidies. |
| Attractive yieldFCF Yield is 32% |
| Megatrend and thematic driversMegatrends include Future of Work & Workforce Support. Themes include Childcare Services, and Early Childhood Education. |
| Weak multi-year price returns2Y Excs Rtn is -128%, 3Y Excs Rtn is -168% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 928% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.4% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -191% |
| Key risksKLC key risks include [1] a securities class action lawsuit alleging IPO misrepresentation regarding child safety failures and [2] significant financial vulnerability due to its heavy reliance on government subsidies. |
Qualitative Assessment
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KinderCare Learning Companies (KLC) stock has lost about 45% since 5/31/2026 because of the following key factors:
1. Significant Underperformance in Fiscal Q2 2026 Earnings and Weakened Full-Year Outlook.
KinderCare Learning Companies (KLC) reported financial results for its fiscal second quarter ended July 4, 2026, on August 13, 2026, which substantially missed profitability expectations and led to a sharp stock repricing. The company's adjusted Earnings Per Share (EPS) of $0.08 fell short of the $0.10 analyst consensus. KLC swung to a net loss of $8.8 million in fiscal Q2 2026, a significant decline from a net income of $38.6 million in the prior year's comparable quarter. Adjusted EBITDA also collapsed by 23.6% year-over-year to $63.0 million. Concurrently, management lowered its full-year 2026 revenue guidance to approximately $2.66 billion to $2.70 billion and adjusted EBITDA guidance to $200 million to $220 million, further impacting investor confidence.
2. Deteriorating Operational Performance and Strategic Center Closures.
The company experienced operational challenges, including a 4% year-over-year decline in total enrollment in fiscal Q2 2026, which led to occupancy dropping 240 basis points to 68.6%. As part of an ongoing "footprint optimization initiative," KinderCare closed 49 early childhood education centers during fiscal Q2 2026, with expectations to close 80-85 centers for the full year. Furthermore, income from operations decreased by $66.3 million to $2.4 million, driven by an increase in the cost of services and an unexpected $20.7 million in impairment losses primarily due to underperforming centers and closures. The company also recognized $273.5 million of goodwill impairment in the first half of fiscal 2026, tied to stock-price-driven market capitalization declines.
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KinderCare Learning Companies (KLC) stock has lost about 45% since 5/31/2026 because of the following key factors:
1. Significant Underperformance in Fiscal Q2 2026 Earnings and Weakened Full-Year Outlook.
KinderCare Learning Companies (KLC) reported financial results for its fiscal second quarter ended July 4, 2026, on August 13, 2026, which substantially missed profitability expectations and led to a sharp stock repricing. The company's adjusted Earnings Per Share (EPS) of $0.08 fell short of the $0.10 analyst consensus. KLC swung to a net loss of $8.8 million in fiscal Q2 2026, a significant decline from a net income of $38.6 million in the prior year's comparable quarter. Adjusted EBITDA also collapsed by 23.6% year-over-year to $63.0 million. Concurrently, management lowered its full-year 2026 revenue guidance to approximately $2.66 billion to $2.70 billion and adjusted EBITDA guidance to $200 million to $220 million, further impacting investor confidence.
2. Deteriorating Operational Performance and Strategic Center Closures.
The company experienced operational challenges, including a 4% year-over-year decline in total enrollment in fiscal Q2 2026, which led to occupancy dropping 240 basis points to 68.6%. As part of an ongoing "footprint optimization initiative," KinderCare closed 49 early childhood education centers during fiscal Q2 2026, with expectations to close 80-85 centers for the full year. Furthermore, income from operations decreased by $66.3 million to $2.4 million, driven by an increase in the cost of services and an unexpected $20.7 million in impairment losses primarily due to underperforming centers and closures. The company also recognized $273.5 million of goodwill impairment in the first half of fiscal 2026, tied to stock-price-driven market capitalization declines.
3. Macroeconomic Headwinds and Specific Cost Pressures.
KinderCare faced broader macroeconomic challenges impacting the childcare sector, including "structural headwinds from flat federal childcare funding and softer household spending". These conditions contributed to lower tuition rate assumptions due to reduced government subsidy rates, affecting revenue growth. Additionally, the company incurred an unexpected $8 million insurance reserve adjustment, which further contributed to the reduction in its full-year guidance.
4. Negative Analyst Sentiment and Price Target Reductions.
Following the release of the fiscal Q2 2026 results and the revised outlook, several analysts downgraded KinderCare Learning Companies and reduced their price targets. JPMorgan downgraded KLC from a "Neutral" to an "Underweight" rating, while UBS cut its price target from $5.00 to $4.50. Goldman Sachs also trimmed its price target to $2.50 from $2.90. This led to a notably bearish analyst sentiment, with the company receiving a consensus "Reduce" rating and an average price target of approximately $4.13 among analysts.
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Stock Movement Drivers
Fundamental Drivers
The -44.8% change in KLC stock from 5/31/2026 to 9/25/2026 was primarily driven by a -44.6% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.84 | 2.12 | -44.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,738 | 2,735 | -0.1% |
| P/S Multiple | 0.2 | 0.1 | -44.6% |
| Shares Outstanding (Mil) | 118 | 119 | -0.3% |
| Cumulative Contribution | -44.8% |
Market Drivers
5/31/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| KLC | -44.8% | |
| Market (SPY) | 2.2% | 12.9% |
| Sector (XLY) | -8.3% | 21.2% |
Fundamental Drivers
The -39.4% change in KLC stock from 2/28/2026 to 9/25/2026 was primarily driven by a -40.2% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.50 | 2.12 | -39.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,692 | 2,735 | 1.6% |
| P/S Multiple | 0.2 | 0.1 | -40.2% |
| Shares Outstanding (Mil) | 118 | 119 | -0.4% |
| Cumulative Contribution | -39.4% |
Market Drivers
2/28/2026 to 9/25/2026| Return | Correlation | |
|---|---|---|
| KLC | -39.4% | |
| Market (SPY) | 13.0% | 20.8% |
| Sector (XLY) | -5.0% | 21.9% |
Fundamental Drivers
The -70.5% change in KLC stock from 8/31/2025 to 9/25/2026 was primarily driven by a -70.9% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9252026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.19 | 2.12 | -70.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,687 | 2,735 | 1.8% |
| P/S Multiple | 0.3 | 0.1 | -70.9% |
| Shares Outstanding (Mil) | 118 | 119 | -0.4% |
| Cumulative Contribution | -70.5% |
Market Drivers
8/31/2025 to 9/25/2026| Return | Correlation | |
|---|---|---|
| KLC | -70.5% | |
| Market (SPY) | 20.9% | 25.0% |
| Sector (XLY) | -3.8% | 27.5% |
Fundamental Drivers
nullnull
Market Drivers
8/31/2023 to 9/25/2026| Return | Correlation | |
|---|---|---|
| KLC | ||
| Market (SPY) | 77.8% | 27.8% |
| Sector (XLY) | 32.7% | 28.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KLC Return | - | - | - | -32% | -76% | -49% | -92% |
| Peers Return | -2% | -2% | 75% | 36% | 16% | 3% | 173% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| KLC Win Rate | - | - | - | 33% | 33% | 44% | |
| Peers Win Rate | 50% | 48% | 60% | 55% | 55% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| KLC Max Drawdown | - | - | - | - | -83% | -63% | |
| Peers Max Drawdown | -30% | -29% | -19% | -22% | -35% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LOPE, DUOL, LAUR, GHC, CVSA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/25/2026 (YTD)
About KinderCare Learning Companies (KLC)
KinderCare Learning Companies (KLC) is the largest private provider of early childhood education and care services in the United States, serving children from six weeks to 12 years of age. The company operates a substantial network, comprising approximately 1,490 early childhood education centers and contracts for over 650 before- and after-school sites across 40 states and the District of Columbia. KLC is a mission-driven organization focused on delivering high-quality, inclusive educational experiences, leveraging a proprietary curriculum, third-party assessment tools, and voluntary accreditation to ensure children receive a strong foundation in a nurturing and safe environment.
KLC offers its services through three primary go-to-market channels. KinderCare Learning Centers (KCLC), its largest segment, provides community-based early childhood education directly to families seeking care for their children. KinderCare Education at Work (KCE at Work) focuses on employer-sponsored childcare programs, offering both onsite centers and tuition discount benefits to employees. The third channel, Champions, specializes in providing outsourced before- and after-school programs directly within schools, serving families with school-aged children. This diversified approach allows KinderCare to address a broad spectrum of childcare needs across different customer segments.
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The Starbucks of early childhood education.
The Marriott of childcare centers.
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KinderCare Learning Companies (KLC) provides the following major services:
- KinderCare Learning Centers (KCLC): Community-based early childhood education and care for children from six weeks to 12 years of age.
- KinderCare Education at Work (KCE at Work): Employer-sponsored childcare solutions, including onsite centers and tuition discount benefit programs for employees.
- Champions: Before- and after-school programs delivered onsite at partner schools and districts.
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KinderCare Learning Companies (KLC) primarily serves individual families. Based on the provided background, the company's major customer categories are:
- Individual Families: These are the primary customers for KinderCare Learning Centers (KCLC), which accounted for the largest portion of the company's revenue (79.2% in 2020). Families directly enroll their children, ranging from 6 weeks to 12 years of age, in KLC's community-based early childhood education and care centers.
- Employers (Companies): KinderCare Education at Work (KCE at Work) provides employer-sponsored childcare programs, serving over 600 employers. In this segment (17.8% of 2020 revenue), KLC's direct customers are companies that offer childcare benefits, such as onsite centers or tuition discount programs, to their employees. Specific names of these employer customers are not provided in the background.
- Schools and School Districts: Champions, KLC's before- and after-school program division, partners with schools and districts. This segment (3.0% of 2020 revenue) involves providing outsourced staffing, teachers, and curriculum for supplemental education and care programs directly within school facilities. KLC has contracts for more than 650 such sites.
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Tom Wyatt
Chairman and Chief Executive Officer
Tom Wyatt returned as Chief Executive Officer of KinderCare Learning Companies effective December 2, 2025, a role he previously held from 2012 to June 2024. He has also served as Chairman of the Board since 2021. During his tenure as CEO, he led the company through significant growth, including the acquisitions of Rainbow Childcare in 2018 and The Crème de la Crème School in 2022. Wyatt's career spans over 40 years of leadership experience with both public and privately held consumer brands. Prior to joining KinderCare, he was President of the Old Navy division at Gap Inc. from 2008-2012. His past executive roles also include President and CEO for Cutter & Buck, President of Vanity Fair Intimates and Vanity Fair Intimates Coalition, and CEO of Parisian Department Stores (a division of Saks Inc.).
Tony Amandi
Chief Financial Officer
Tony Amandi is the Chief Financial Officer of KinderCare, a position he has held since his promotion in June 2019. In this role, he oversees various financial functions including accounting, treasury, financial planning and analysis (FP&A), and investor relations. Before becoming CFO, he served as Senior Vice President of KinderCare's FP&A organization and previously as Corporate Controller. Prior to joining KinderCare in 2009, Amandi spent nearly 10 years at PricewaterhouseCoopers in their Audit and Assurance practice, where he became a Senior Manager. At PricewaterhouseCoopers, he led audit and advisory engagements for public and non-public, multinational companies and was a project leader for a Fortune 100 company during the initial implementation of 404 controls.
Lindsay Sorhondo
Chief Operating Officer
Lindsay Sorhondo serves as the Chief Operating Officer for KinderCare Learning Companies, where she is responsible for strategy, operations, growth, customer experience, insights, marketing, and IT. She joined KinderCare in 2013 and has held several leadership roles, including Chief Innovation Officer. Before her time at KinderCare, Sorhondo held leadership positions at ANN Inc.
Dan Figurski
President, KinderCare for Employers and Champions
Dan Figurski is the President of KinderCare for Employers and Champions. He brings 20 years of experience in sales, marketing, and business management to his role at KinderCare Learning Companies. During his tenure, his leadership has significantly contributed to the growth of the Champions before- and after-school programs.
Michael Canavin
President, KCLC and Crème de la Crème Schools
Michael Canavin is the President of KinderCare Learning Centers (KCLC) and Crème de la Crème Schools. He joined KinderCare Learning Companies in 2015 and has held various roles, including Regional Vice President and Senior Vice President for KinderCare Learning Centers. Before his time at KinderCare, Michael worked for Family Dollar Corporation for 10 years, Mervyn's Department Stores for 11 years, and Jordan Marsh Department Stores for 8 years.
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Changes in government subsidies and regulations affecting the early childhood education and care sector. KinderCare's expertise in helping families access public subsidies is noted as a core competency and a driver of diversity and access in their centers. Any adverse changes to these subsidies, or increased regulatory burdens, could directly impact enrollment, operational costs, and profitability.
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Ability to attract, retain, and manage qualified staff. The company emphasizes "People & Engagement" as a core pillar and states that high employee engagement leads to better financial performance. The early childhood education sector is highly dependent on a skilled and stable workforce, and challenges in attracting or retaining qualified teachers and caregivers, or increases in labor costs, could impact the quality of care, capacity, and financial results.
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Maintaining a strong reputation for health, safety, and quality. KinderCare highlights its commitment to "Health & Safety" and the importance of transparent, third-party validation of its offerings as a critical factor for parents. In the sensitive childcare industry, any perceived or actual compromise to health, safety, or educational quality could severely damage the brand's reputation, lead to reduced enrollment, and potentially incur legal and financial liabilities.
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The overall U.S. child care market was estimated at approximately $65.15 billion in 2024.
- KinderCare Learning Centers (KCLC): The market size for Early Childhood Learning Centers in the U.S. was $19.9 billion in 2024.
- KinderCare Education at Work (KCE at Work): Employer-sponsored daycare held a 7.8% market share of the U.S. daycare market in 2025. Based on the U.S. child care market size of approximately $65.15 billion in 2024, this segment represents an addressable market of approximately $5.08 billion.
- Champions (Before- and After-School Programs): After-school programs accounted for 10.4% of the U.S. daycare market in 2025. Based on the U.S. child care market size of approximately $65.15 billion in 2024, this segment represents an addressable market of approximately $6.78 billion.
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KinderCare Learning Companies (KLC) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- New Center Openings and Acquisitions: KinderCare plans to expand its footprint by opening new early childhood education centers and making acquisitions. The company intends to invest approximately $131 million to $133 million in new centers and acquisitions, adding capacity to its network. This expansion includes growing the KinderCare, Champions, and Creme Schools brands and entering new markets, such as Idaho.
- Growth in Employer-Sponsored Childcare Programs (KinderCare Education at Work): The company is leveraging its business-to-business (B2B) offerings, which include employer-sponsored childcare contracts and on-site centers. These programs have shown solid growth, with employer on-site centers maintaining over 70% occupancy and securing new tuition-benefit contracts covering a significant number of employees. This B2B segment is expected to contribute to overall revenue growth.
- Expansion of Before- and After-School Programs (Champions): The Champions brand, which provides before- and after-school programs, is a significant growth driver. This segment has demonstrated strong performance with revenue growth, supported by the addition of new sites and increased average enrollments in existing locations.
- Tuition Price Increases: KinderCare anticipates revenue growth driven by tuition increases. While enrollment challenges in some areas may partially offset this, regular tuition adjustments are a consistent component of their revenue strategy.
- Operational Improvements and Enrollment Management: The company is undertaking strategic operational improvements to enhance enrollment and occupancy rates. Initiatives include focusing leadership efforts on KinderCare, increasing investment in paid search, and aligning incentive programs with growth outcomes. These actions are designed to improve center execution and enrollment conversion, aiming for a better performance trajectory.
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Share Repurchases
KinderCare Learning Companies (KLC) had a negative buyback yield of -29.76% in the last 12 months, indicating a net issuance of shares rather than repurchases. No significant share repurchases or authorizations for future repurchases were identified in the provided information.
Share Issuance
The number of KinderCare Learning Companies' shares outstanding increased by 29.76% in one year. As of March 2026, the company had 118.32 million shares outstanding.
Inbound Investments
Partners Group Holding AG owns a significant percentage of KinderCare Learning Companies' common stock, indicating a substantial institutional investment.
Outbound Investments
During fiscal year 2025, KinderCare Learning Companies acquired 26 early childhood education centers. The cash consideration for these 26 acquisitions amounted to $23 million, which was funded from the company's free cash flow.
Capital Expenditures
In the last 12 months (approximately fiscal 2025), KinderCare Learning Companies' capital expenditures totaled $133.63 million. For 2026, capital expenditures are projected to be approximately 5% of revenue. These capital expenditures are largely aimed at growth initiatives.
Peer Outperformance in Education Services
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services ← | 14 | -24.4% | 74.2% | 64.0% | LINC 257% · CVSA 212% · PRDO 210% |
| Homebuilding | 18 | -4.7% | 35.8% | 51.3% | GRBK 222% · PHM 164% · TOL 142% |
| Specialty Stores | 7 | 8.9% | 52.5% | 15.1% | SIG 35% · ASO 22% · DKS 17% |
| Home Improvement Retail | 5 | -26.0% | -3.6% | -1.4% | HVT 11% · LOW 0% · HD -1% |
| Hotels, Resorts & Cruise Lines | 22 | 18.8% | 46.8% | -1.9% | RCL 177% · MAR 141% · HLT 135% |
| Automotive Retail | 18 | -19.5% | -0.9% | -5.2% | MUSA 218% · PAG 121% · ORLY 106% |
| Distributors | 4 | -10.2% | -23.8% | -13.5% | ARMK 142% · GPC 22% · LKQ -49% |
| Home Furnishings | 4 | -4.9% | 26.7% | -15.8% | SGI 36% · LZB 0% · MHK -32% |
| Specialized Consumer Services | 10 | -18.0% | 13.8% | -17.6% | HRB 95% · FTDR 75% · SCI 38% |
| Footwear | 10 | 55.9% | 53.4% | -18.1% | WEYS 174% · DECK 21% · SHOO 20% |
| Restaurants | 35 | -6.2% | -9.5% | -24.8% | EAT 301% · CAKE 137% · BH-A 104% |
| Leisure Products | 13 | -22.7% | -17.9% | -38.8% | GOLF 74% · HAS 14% · MCFT -19% |
| Household Appliances | 17 | -7.5% | 16.0% | -41.2% | FLXS 209% · HBB 168% · KEQU 157% |
| Automotive Parts & Equipment | 38 | -13.0% | -14.0% | -42.0% | MOD 1642% · GTX 269% · STRT 75% |
| Apparel Retail | 26 | -3.4% | 19.8% | -42.6% | ANF 239% · URBN 136% · ROST 115% |
| Apparel, Accessories & Luxury Goods | 28 | -8.7% | 9.2% | -43.2% | RL 238% · TPR 228% · ELA 210% |
| Leisure Facilities | 11 | -19.0% | -4.6% | -44.0% | OSW 134% · JAKK 123% · ESCA 24% |
| Casinos & Gaming | 20 | -16.8% | -25.3% | -48.6% | MCRI 96% · RRR 27% · BYD 16% |
| Computer & Electronics Retail | 3 | -7.4% | 39.4% | -49.5% | BBY 9% · GME -49% · UPBD -64% |
| Broadline Retail | 15 | -3.9% | 15.9% | -55.6% | DDS 311% · EBAY 61% · AMZN 46% |
| Automobile Manufacturers | 8 | -77.6% | -48.7% | -72.3% | GM 65% · TSLA 44% · F 26% |
| Consumer Electronics | 11 | -10.9% | -15.3% | -74.0% | AXIL 2283% · GRMN 89% · SONO -49% |
| Other Specialty Retail | 18 | -36.0% | -44.4% | -79.4% | TLF 110% · BBW 68% · WINA 60% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 132.13 |
| Mkt Cap | 4.5 |
| Rev LTM | 1,892 |
| Op Inc LTM | 302 |
| FCF LTM | 267 |
| FCF 3Y Avg | 259 |
| CFO LTM | 367 |
| CFO 3Y Avg | 324 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.1% |
| Rev Chg 3Y Avg | 10.5% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 15.5% |
| Op Inc Chg 3Y Avg | 15.0% |
| Op Mgn LTM | 16.8% |
| Op Mgn 3Y Avg | 14.0% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 23.2% |
| CFO/Rev 3Y Avg | 19.8% |
| FCF/Rev LTM | 17.9% |
| FCF/Rev 3Y Avg | 15.6% |
Price Behavior
| Market Price | $2.12 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 10/09/2024 | |
| Distance from 52W High | -69.5% | |
| 50 Days | 200 Days | |
| DMA Price | $3.54 | $3.87 |
| DMA Trend | down | down |
| Distance from DMA | -40.2% | -45.2% |
| 3M | 1YR | |
| Volatility | 107.0% | 92.3% |
| Downside Capture | 583.49 | 325.15 |
| Upside Capture | 98.35 | 130.74 |
| Correlation (SPY) | 13.0% | 24.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.50 | 1.16 | 0.82 | 1.63 | 1.77 | -0.44 |
| Up Beta | 1.08 | -0.56 | 0.10 | 0.87 | 1.12 | 0.02 |
| Down Beta | -14.40 | -6.26 | -2.32 | 0.07 | 1.72 | -0.08 |
| Up Capture | 113% | 151% | 174% | 288% | 158% | 17% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 18 | 30 | 66 | 123 | 220 |
| Down Capture | 1536% | 593% | 298% | 241% | 181% | 110% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 13 | 24 | 34 | 56 | 118 | 240 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KLC | |
|---|---|---|---|---|
| KLC | -69.2% | 92.1% | -0.76 | - |
| Sector ETF (XLY) | -7.2% | 19.5% | -0.51 | 27.2% |
| Equity (SPY) | 17.7% | 13.0% | 0.98 | 24.9% |
| Gold (GLD) | 14.7% | 29.3% | 0.46 | -2.8% |
| Commodities (DBC) | 46.8% | 20.7% | 1.75 | -6.8% |
| Real Estate (VNQ) | 4.5% | 13.6% | 0.07 | 20.4% |
| Bitcoin (BTCUSD) | -25.5% | 44.8% | -0.53 | 9.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KLC | |
|---|---|---|---|---|
| KLC | -38.7% | 78.4% | -1.20 | - |
| Sector ETF (XLY) | 4.6% | 24.1% | 0.15 | 28.4% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 27.7% |
| Gold (GLD) | 19.2% | 18.8% | 0.83 | -3.5% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | -3.2% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 24.2% |
| Bitcoin (BTCUSD) | 12.3% | 52.6% | 0.41 | 8.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KLC | |
|---|---|---|---|---|
| KLC | -21.7% | 78.4% | -1.20 | - |
| Sector ETF (XLY) | 12.0% | 22.2% | 0.49 | 28.4% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 27.7% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | -3.5% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | -3.2% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 24.2% |
| Bitcoin (BTCUSD) | 63.9% | 66.2% | 1.04 | 8.8% |
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Earnings Returns History
Updated 9/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | -46.2% | -42.4% | -50.7% |
| 5/14/2026 | -8.0% | -15.1% | -8.7% |
| 3/12/2026 | -42.6% | -30.6% | -12.1% |
| 11/12/2025 | -19.2% | -26.4% | -6.2% |
| 8/12/2025 | -22.3% | -26.9% | -21.9% |
| 5/13/2025 | -8.5% | -12.5% | -20.2% |
| 3/20/2025 | -22.2% | -28.1% | -37.6% |
| 11/20/2024 | -15.0% | 2.1% | -22.9% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 0 |
| # Negative | 8 | 7 | 8 |
| Median Positive | 2.1% | ||
| Median Negative | -20.7% | -26.9% | -21.1% |
| Max Positive | 2.1% | ||
| Max Negative | -46.2% | -42.4% | -50.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | -46.2% | -42.4% | -50.7% |
| 5/14/2026 | -8.0% | -15.1% | -8.7% |
| 3/12/2026 | -42.6% | -30.6% | -12.1% |
| 11/12/2025 | -19.2% | -26.4% | -6.2% |
| 8/12/2025 | -22.3% | -26.9% | -21.9% |
| 5/13/2025 | -8.5% | -12.5% | -20.2% |
| 3/20/2025 | -22.2% | -28.1% | -37.6% |
| 11/20/2024 | -15.0% | 2.1% | -22.9% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 0 |
| # Negative | 8 | 7 | 8 |
| Median Positive | 2.1% | ||
| Median Negative | -20.7% | -26.9% | -21.1% |
| Max Positive | 2.1% | ||
| Max Negative | -46.2% | -42.4% | -50.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/21/2025 | 10-K |
| 09/30/2024 | 11/21/2024 | 10-Q |
| 06/30/2024 | 10/09/2024 | 424B4 |
| 09/30/2022 | 11/10/2022 | S-1/A |
| 03/31/2022 | 05/09/2022 | S-1/A |
| 12/31/2021 | 03/09/2022 | S-1/A |
| 09/30/2021 | 11/08/2021 | S-1/A |
| 06/30/2021 | 10/18/2021 | S-1 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 10-Q |
| 03/31/2026 | 05/14/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/21/2025 | 10-K |
| 09/30/2024 | 11/21/2024 | 10-Q |
| 06/30/2024 | 10/09/2024 | 424B4 |
| 09/30/2022 | 11/10/2022 | S-1/A |
| 03/31/2022 | 05/09/2022 | S-1/A |
| 12/31/2021 | 03/09/2022 | S-1/A |
| 09/30/2021 | 11/08/2021 | S-1/A |
| 06/30/2021 | 10/18/2021 | S-1 |
Recent Forward Guidance
Updated 8/14/2026Latest: Q2 2026 Earnings Reported 8/13/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 2.66 Bil | 2.68 Bil | 2.70 Bil | -1.7% | Lowered | Guidance: 2.73 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 200.00 Mil | 210.00 Mil | 220.00 Mil | -6.7% | Lowered | Guidance: 225.00 Mil for 2026 | |
| 2026 Adjusted EPS | Reported | 0.05 | 0.1 | 0.15 | -50.0% | Lowered | Guidance: 0.2 for 2026 | |
Prior: Q1 2026 Earnings Reported 5/14/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 2.70 Bil | 2.73 Bil | 2.75 Bil | 0 | Affirmed | Guidance: 2.73 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 215.00 Mil | 225.00 Mil | 235.00 Mil | 2.3% | Raised | Guidance: 220.00 Mil for 2026 | |
| 2026 Adjusted EPS | Reported | 0.15 | 0.2 | 0.25 | 33.3% | 5.0% | Raised | Guidance: 0.15 for 2026 |
Q4 2025 Earnings Reported 3/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 2.70 Bil | 2.73 Bil | 2.75 Bil | -0.2% | Lower New | Guidance: 2.73 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 210.00 Mil | 220.00 Mil | 230.00 Mil | -24.8% | Lower New | Guidance: 292.50 Mil for 2025 | |
| 2026 Adjusted EPS | Reported | 0.1 | 0.15 | 0.2 | -77.1% | -50.5% | Lower New | Guidance: 0.66 for 2025 |
Q3 2025 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 2.72 Bil | 2.73 Bil | 2.74 Bil | -1.6% | Lowered | Guidance: 2.77 Bil for 2025 | |
| 2025 Adjusted EBITDA | Reported | 290.00 Mil | 292.50 Mil | 295.00 Mil | -7.1% | Lowered | Guidance: 315.00 Mil for 2025 | |
| 2025 Adjusted EPS | Reported | 0.64 | 0.66 | 0.67 | -17.6% | Lowered | Guidance: 0.8 for 2025 | |
Insider Activity
Updated 9/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nuzzo, Michael | Direct | Buy | 3232026 | 2.22 | 25,000 | 55,500 | 104,129 | Form | |
| 2 | Wyatt, John T | Chief Executive Officer | Direct | Buy | 3182026 | 2.07 | 275,000 | 569,250 | 2,148,316 | Form |
| 3 | Wyatt, John T | Chief Executive Officer | Direct | Buy | 3182026 | 1.96 | 219,118 | 429,471 | 1,495,155 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nuzzo, Michael | Direct | Buy | 3232026 | 2.22 | 25,000 | 55,500 | 104,129 | Form | |
| 2 | Wyatt, John T | Chief Executive Officer | Direct | Buy | 3182026 | 2.07 | 275,000 | 569,250 | 2,148,316 | Form |
| 3 | Wyatt, John T | Chief Executive Officer | Direct | Buy | 3182026 | 1.96 | 219,118 | 429,471 | 1,495,155 | Form |
Investor Activity (13F)
Updated Sep 26, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Education Services Resources |
| EdSurge |
| Education Week |
| Inside Higher Ed |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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