The Starbucks of early childhood education.

The Marriott of childcare centers.

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.

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.

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.

1. 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.

2. 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.

3. 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.

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.

KinderCare Learning Companies (KLC) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.

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.