BFAM on NYSE

Bright Horizons

Logo: brighthorizons.com4

United States–based child-care provider

Bright Horizons Family Solutions Inc. is a United States–based child-care provider and is the largest provider of employer-sponsored child care.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

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  • TickerBFAM on NYSE1
  • Industrychild care1
  • HeadquartersWatertown1
  • Websitewww.brighthorizons.com
  • Business address2 Wells Avenue, Newton, Ma 024595
  • Filer categoryLarge accelerated filer5
Bright Horizons 539a W29 jeh
Photo: Jim.henderson, CC BY-SA 4.0, via Wikimedia Commons7

Bright Horizons Family Solutions Inc. is a United States–based child-care provider and is the largest provider of employer-sponsored child care. It also provides back-up child care and elder care, tuition program management, education advising, and student loan repayment programs. It is headquartered in Newton, Massachusetts.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

23.8%Gross margin8
10.7%Operating margin8
6.6%Net margin8
9.2%Revenue growth, 20258
14.4%Return on equity8
0.56×Debt to equity8
$258.5MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Full-Service Center Based Care brought in 71% of the revenue Bright Horizons broke down this way in fiscal 2025.

  1. Full-Service Center Based Care$2.1B871%up 6% from 2024
  2. Backup Dependent Care$728.0M825%up 19% from 2024
  3. Educational Advisory And Other Services$124.5M84%up 9% from 2024
Business segments by year
Business segments202320242025
Full-Service Center Based Care$1.8B$2.0B$2.1B
Backup Dependent Care$525.9M$610.1M$728.0M
Educational Advisory And Other Services$111.7M$114.1M$124.5M

Regions

North America brought in 61% of the revenue Bright Horizons broke down this way in fiscal 2025.

  1. North America$2.1B861%up 8% from 2024
  2. Outside North America$842.7M824%up 12% from 2024
  3. United Kingdom$506.9M815%up 17% from 2024
Regions by year
Regions202320242025
North America$1.8B$1.9B$2.1B
Outside North America$657.7M$749.1M$842.7M
United Kingdom$368.5M$431.9M$506.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue76¢$2.2B
  • Selling, general and admin13¢$376.4M
  • Other costs2¢$50.9M
  • Income tax3¢$76.8M
  • Profit7¢$193.1M

Out of $2.9B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending26¢$92.2M
  • Share buybacks64¢$225.4M
  • Kept or used elsewhere9¢$33.1M

Out of $350.7M of cash from operations.8

Financial statements

Revenue91011128$2.9B in 2025+42% since 2019
0$1.0B$2.0B$3.0B2019: $2.1B$2.1B20192020: $1.5B$1.5B2020−27%2021: $1.8B$1.8B2021+16%2022: $2.0B$2.0B2022+15%2023: $2.4B$2.4B2023+20%2024: $2.7B$2.7B2024+11%2025: $2.9B$2.9B2025+9%
Gross profit91011128$697.2M in 2025+33% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $522.9M$522.9M20192020: $304.5M$304.5M2020−42%2021: $415.0M$415.0M2021+36%2022: $478.7M$478.7M2022+15%2023: $531.7M$531.7M2023+11%2024: $619.6M$619.6M2024+17%2025: $697.2M$697.2M2025+13%
Operating income91011128$314.7M in 2025+17% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $267.8M$267.8M20192020: $53.3M$53.3M2020−80%2021: $129.0M$129.0M2021+142%2022: $157.6M$157.6M2022+22%2023: $171.2M$171.2M2023+9%2024: $246.6M$246.6M2024+44%2025: $314.7M$314.7M2025+28%
Net income91011128$193.1M in 2025+7% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $180.4M$180.4M20192020: $27.0M$27.0M2020−85%2021: $70.5M$70.5M2021+161%2022: $80.6M$80.6M2022+14%2023: $74.2M$74.2M2023−8%2024: $140.2M$140.2M2024+89%2025: $193.1M$193.1M2025+38%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Revenue$2.9B$2.7B$2.4B
Cost of services$2.2B$2.1B$1.9B
Gross profit$697.2M$619.6M$531.7M
Selling, general and administrative expenses$376.4M$354.6M$327.1M
Amortization of intangible assets$6.1M$18.3M$33.4M
Income from operations$314.7M$246.6M$171.2M
Interest expense net-$44.8M-$48.8M-$51.6M
Income before income tax$269.9M$197.9M$119.6M
Income tax expense-$76.8M-$57.7M-$45.4M
Net income$193.1M$140.2M$74.2M
Common stock basic (in dollars per share)$3.39$2.42$1.28
Common stock diluted (in dollars per share)$3.36$2.40$1.28
Common stockbasic (in shares)56.9M shares57.9M shares57.7M shares
Common stockdiluted (in shares)57.4M shares58.5M shares57.9M shares

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The story

Founded by Linda A. Mason and Roger H. Brown.1

History

Bright Horizons Children's Centers, Inc. was founded in 1986 by Linda A. Mason and Roger H. Brown. Mason and Brown's Cambridge home was used as the company headquarters.

In 1987, the first two Bright Horizons child care centers were opened at the Prudential Center in Boston and at One Kendall Square in Cambridge, both on the same day.

Bright Horizons expanded to California in 1993 after acquiring Cornerstone West.

Founders Roger Brown and Linda Mason were named “Entrepreneur of the Year” by Ernst & Young in 1996.

In 1997, the company conducted a successful IPO and went public as BRHZ.

In 1998, Bright Horizons merged with Corporate Family Solutions (founded by former U.S. Secretary of Education and Tennessee Governor Lamar Alexander and Bob Keeshan, best known as TV's Captain Kangaroo) to form Bright Horizons Family Solutions, and changed their NASDAQ ticker symbol from BRHZ to BFAM. The company is named to FORTUNE Magazine’s list of the “100 Best Companies to Work for in America” for the first time, and would go on to make the list a total of 18 times between 1998 and 2019.

In 2000, the company moved its headquarters to Watertown, Massachusetts. That same year, London-based Nurseryworks and Dublin-based Circle of Friends were acquired by Bright Horizons, expanding its global presence.

The 500th center opened in 2003 – the Child Care Center at Citibank Service Center in San Antonio, Texas.

Read the full text

Bright Horizons began offering center-based back-up child care in 1992 with the first standalone back-up child care center for Chase Manhattan Bank. In 2006, the Back-Up Care Advantage program was established to provide in-home back-up child, and elder care.

In 2006, college advising company College Coach was acquired by Bright Horizons. College Coach founder and CEO Stephen Kramer joins the Bright Horizons executive team. Kramer becomes CEO of Bright Horizons in 2018.

In 2000, Mary Ann Tocio was named president and chief operating officer of BH. She retired in July 2015 and remains on the Board of Directors. Today, the company’s internal training platform – Mary Ann Tocio University (MATU) – is named after her.

David Lissy served for 17 years as chief executive officer beginning in 2002. He became executive chairman in January 2018. During his tenure as CEO, he was responsible for the company’s international expansion.

In 2008, the company returned to its roots as a private company in partnership with Bain Capital.

In 2010, the company launched Tuition Advisory Services, an employer solution working with employers to take a more strategic approach to their tuition reimbursement programs.

In 2013, Bright Horizons went public for the second time on the New York Stock Exchange, with stock symbol BFAM

In 2020, Priya Krishnan joined Bright Horizons' executive team. She was founder and CEO of India's largest childcare company, KLAY Schools.

Bright Horizons Foundation for Children

In 1988, the Horizons Initiative was founded to serve the needs of homeless children throughout Greater Boston.

In 1999, the Bright Horizons Foundation for Children was formed. Through the Foundation, Bright Horizons supports nonprofit organizations with a focus on programs for children and families. The Foundation is headquartered in Newton, Mass. Bright Spaces, the Foundation's main program, creates play rooms for children in crisis located in nonprofit and community agencies.

From Wikipedia’s article on Bright Horizons, shared under CC BY-SA 4.0.6

Leadership

Who has led Bright Horizons, and when. Pick a name to see everywhere that person has worked.

Acquisitions

In 2006, Bright Horizons acquired College Coach, a college advising company.

In April 2009, the British-based childcare group Teddies Nurseries was bought from Bupa.

In 2011, the company acquired EdAssist, Inc. to expand the existing Tuition Advisory Services group, which would later be re-branded as the EdAssist Solutions group.

Also in 2011, Bright Horizons bought a majority stake in Dutch company Kindergarten.

Read the full text

In 2013, the company acquired EdLink, LLC out of Chicago, IL to further expand the EdAssist Solutions group

In 2013, Bright Horizons acquired kidsunlimited, which included 64 nurseries.

In 2016, Bright Horizons bought out the Asquith Court Group adding a further 100 nurseries to its care.

In 2019, the company acquired the tuition program management business at GP Strategies to further expand the EdAssist Solutions group

In 2020, the company acquired Sittercity, an online marketplace for family solutions out of Chicago, IL

From Wikipedia’s article on Bright Horizons, shared under CC BY-SA 4.0.6

Former names

  • BRIGHT HORIZONS SOLUTIONS CORPJun 11, 2008 to Jun 11, 20085

Timeline

  1. Jan 25, 2013Went public Listed on NYSE1

Recent filings

  1. Sep 17, 2026SCHEDULE 13G
  2. Sep 2, 2026144
  3. Sep 2, 20264 PRIMARY DOCUMENT
  4. Sep 2, 20264 PRIMARY DOCUMENT
  5. Sep 1, 2026144
  6. Aug 13, 2026SCHEDULE 13G/A
  7. Aug 6, 202610-Q
  8. Aug 4, 20264 PRIMARY DOCUMENT
  9. Aug 4, 20263 PRIMARY DOCUMENT
  10. Aug 3, 2026144
  11. Jul 31, 2026SCHEDULE 13G
  12. Jul 30, 20268-K
  13. Jul 28, 20264 PRIMARY DOCUMENT
  14. Jun 5, 20264 PRIMARY DOCUMENT
  15. Jun 5, 20264 PRIMARY DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2