Care.Com, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2018; Announces Impairment of Intangible Assets Results for the Second Quarter of 2018; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of 2018
July 30, 2018 at 11:00 am
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Care.com, Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of $45.966 million against $41.972 million a year ago. Operating loss was $0.271 million against $0.403 million a year ago. Loss before income taxes was $1.039 million against income before income taxes of $0.605 million a year ago. Net loss attributable to common stockholders was $0.834 million or $0.03 per basic and diluted share against net income of $0.874 million or $0.03 per basic and diluted share a year ago. A key driver for the loss was the impact of the weakening euro against the U.S. dollar. EBITDA was $0.277 million against $0.259 of million a year ago. Adjusted EBITDA was $5.929 million against $2.608 million a year ago. Non-GAAP net income was $5.483 million or $0.14 per diluted share against $4.022 million or $0.11 per diluted share a year ago.
For the six months, the company reported revenue of $93.291 million against $85.338 million a year ago. Operating income was $1.119 million against $0.332 million a year ago. Income before income taxes was $0.913 million against $1.641 million a year ago. Net income attributable to common stockholders was $1.020 million or $0.03 per diluted share against $1.066 million or $0.03 per diluted share a year ago. Net cash provided by operating activities was $14.638 million against $11.140 million a year ago. Purchases of property and equipment and software were $0.399 million against $0.387 million a year ago. EBITDA was $2.436 million against $1.677 million a year ago. Adjusted EBITDA was $12.658 million against $5.735 million a year ago. Non-GAAP net income was $12.750 million or $0.33 per diluted share against $6.555 million or $0.18 per diluted share a year ago.
For the quarter, the company announced impairment of intangible assets of $142,000.
The company provided earnings guidance for the third quarter and full year of 2018. For the third quarter, the company expects revenue in the range of $49.0 million to $49.3 million, adjusted EBITDA in the range of $5.25 million to $5.75 million and Non-GAAP EPS expected to be approx. $0.12.
For the fourth quarter, the company expects revenue of $49.8 million. EBITDA is expected to be $13.3 million.
For the full year, the company expects revenue in the range of $191.5 million to $193.0 million, adjusted EBITDA in the range of $31.0 million to $32.0 million and Non-GAAP EPS in the range of $0.65 to $0.67.
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 Financial Results for the Second Quarter and Six Months Ended June 30, 2018; Announces Impairment of Intangible Assets Results for the Second Quarter of 2018; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of 2018