Care.Com, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second, Third, Fourth Quarter and Full Year 2018
May 08, 2018 at 11:00 am
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Care.com, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. Revenue for the first quarter of 2018 was $47.3 million, an increase of 9% from $43.4 million in the first quarter of 2017. Net income was $2.7 million in the first quarter of 2018, compared to $0.8 million in the first quarter of 2017, an improvement of $1.9 million. Adjusted EBITDA was $6.7 million in the first quarter of 2018, compared to $3.1 million in the first quarter of 2017, an improvement of $3.6 million. GAAP EPS (Diluted) was $0.05 in the first quarter of 2018, compared to $0.01 in the first quarter of 2017. Non-GAAP EPS (Diluted) was $0.19 in the first quarter of 2018, compared to $0.07 in the first quarter of 2017. Operating income was $1,390,000 compared to $735,000 a year ago. Income before income taxes was $1,952,000 compared to $1,036,000 a year ago. Net income attributable to common stockholders was $1,741,000 compared to $192,000 a year ago. Net cash provided by operating activities was $9,443,000 compared to $4,585,000 a year ago. Purchases of property and equipment and software was $144,000 compared to $271,000 a year ago. EBITDA was $2,159,000 compared to $1,418,000 a year ago. Non-GAAP net income was $7,267,000 compared to $2,533,000 a year ago.
The company provided earnings guidance for the second quarter and full year 2018. For the second quarter, the company expected revenue to be in the range of $45.7 million to $46 million, Adjusted EBITDA to be in the range of $5.0 million to $5.3 million and Non-GAAP EPS is expected to be $0.10.
For the full year, the company expected revenue to be in the range of $191 million to $193 million, Adjusted EBITDA to be in the range of $31 million to $32, yielding EBITDA margin of 16% at the middle of the range, up from 13% in 2017. million and Non-GAAP EPS to be in the range of $0.65 to $0.67.
The company expects that fourth quarter will be its highest margin quarter as it usually is, and that third quarter and fourth quarter will have similar growth versus prior in EBITDA.
Care.com, Inc. is an online marketplace for finding and managing family care. The Company has over 31.7 million members, including 18.3 million families and over 13.4 million caregivers, spanning 20 countries. Its consumer matching solutions allow families to search for, qualify, vet, connect with and select caregivers. It also provides caregivers with solutions to create personal profiles, describe their skills and experience, and otherwise differentiate and market themselves in a fragmented marketplace. In addition to consumer matching solutions, the Company offers its members products and services to facilitate their interaction with caregivers. It serves employers by providing access to certain of its products and services to employer-sponsored families. In addition, it serves care-related businesses, such as day care centers, nanny agencies and home care agencies, willing to market their services to its care-seeking families and recruit its caregiver members.
Care.Com, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second, Third, Fourth Quarter and Full Year 2018