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Bright Horizons Family Solutions cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$25.1M in Q3 2026 · $253M over twelve months

Operating cash flow$5.3M
Capital spending−$30.4M
Free cash flow−$25.1M
Cash conversion cycle-21 days

Analysis

In Q3 2026, Bright Horizons Family Solutions generated $5.3M of operating cash flow and spent $30.4M on capital projects, leaving free cash flow of −$25.1M. That is $17.4M more than in Q3 2025 (−$42.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $356M; the largest uses were buybacks ($680M), capital spending ($103M), taxes on employees’ shares ($8.5M); besides operations, cash came from other financing ($306M), net borrowing (+) / repaid (−) ($141M); the cash balance rose by $1.0M.

Operating cash flow was $5.3M against net income of −$231M. The largest differences: impairments +$290M, deferred revenue −$58.7M, receivables −$35.8M.

Its cash conversion cycle was -21 days (receivables 25 + inventory 0 − payables 46): suppliers fund its working capital.

Free cash flow

Bright Horizons Family Solutions: free cash flow by quarterBright Horizons Family Solutions: free cash flow by quarter$88.6MQ4 2024$70.9MQ1 2025$115MQ2 2025−$42.4MQ3 2025$115MQ4 2025$87.6MQ1 2026$76.1MQ2 2026−$25.1MQ3 2026
Operating cash flow less capital spending.
Bright Horizons Family Solutions: operating cash flow against capital spendingBright Horizons Family Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$121M$32.1MQ4 2024$86.2M$15.2MQ1 2025$134M$18.8MQ2 2025−$17.6M$24.9MQ3 2025$148M$33.3MQ4 2025$108M$20.1MQ1 2026$95.1M$19.0MQ2 2026$5.3M$30.4MQ3 2026
Latest (Q3 2026): Operating cash flow $5.3M, Capital spending $30.4M.

Capital allocation, year by year

Bright Horizons Family Solutions: where the cash came from (up) and went (down), by fiscal yearBright Horizons Family Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $227MFY2021: Net borrowing −$34.3MFY2021: Shares issued $30.1MFY2021: Asset sales $5.8MFY2021: Capital spending −$63.5MFY2021: Acquisitions −$53.9MFY2021: Buybacks −$214M$263MFY2021FY2022: Operating cash flow $188MFY2022: Net borrowing $84.0MFY2022: Shares issued $10.1MFY2022: Asset sales $10.5MFY2022: Capital spending −$70.6MFY2022: Acquisitions −$210MFY2022: Buybacks −$183M$293MFY2022FY2023: Operating cash flow $256MFY2023: Net borrowing −$100MFY2023: Shares issued $11.2MFY2023: Asset sales $225KFY2023: Capital spending −$91.0MFY2023: Acquisitions −$39.6M$268MFY2023FY2024: Operating cash flow $337MFY2024: Net borrowing −$17.0MFY2024: Shares issued $27.0MFY2024: Asset sales $2.0MFY2024: Capital spending −$97.3MFY2024: Acquisitions −$8.3MFY2024: Buybacks −$84.6M$367MFY2024FY2025: Operating cash flow $351MFY2025: Net borrowing −$1.6MFY2025: Shares issued $12.1MFY2025: Asset sales $860KFY2025: Capital spending −$92.2MFY2025: Acquisitions −$6.8MFY2025: Buybacks −$225M$364MFY2025
Over these 5 years operating cash flow totalled $1.4B; the largest uses were buybacks ($706M) and capital spending ($415M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$135M
Debt$1.1B
Net debt$945M
Due within a year$9.4M

Bright Horizons Family Solutions funds itself: free cash flow was $253M over the last twelve months, and $135M of cash and investments stands against $1.1B of debt ($9.4M due within a year, 14.4× covered by cash).

Where the cash came from and went

Bright Horizons Family Solutions: sources (+) and uses (−) of cash, Q3 2026Bright Horizons Family Solutions: sources (+) and uses (−) of cash, Q3 2026Buybacks−$88.0MNet borrowing (+) / repaid (−)$74.6MCash drawn (+) / kept (−)$40.8MCapital spending−$30.4MOperating cash flow$5.3MOther investing−$2.0MTaxes on employees’ shares−$397KExchange rates$207KOther financing−$37K
Bright Horizons Family Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Bright Horizons Family Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$680MOperating cash flow$356MOther financing$306MNet borrowing (+) / repaid (−)$141MCapital spending−$103MTaxes on employees’ shares−$8.5MOther investing−$7.7MAcquisitions−$1.7MExchange rates−$1.4MCash drawn (+) / kept (−)−$1.0MShares issued$231K

From profit to cash

Bright Horizons Family Solutions: net income to operating cash flow, Q3 2026Bright Horizons Family Solutions: net income to operating cash flow, Q3 2026Net income−$231MDepreciation & amortization$25.2MStock-based pay$7.8MDeferred taxes−$721KImpairments$290MReceivables−$35.8MPayables$24.7MDeferred revenue−$58.7MPrepaid and other assets$2.7MOther liabilities−$16.4MIncome taxes payable$4.5MOperating cash flow$5.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202625—46-21
Q2 202625—44-20
Q1 202632—46-14
Q3 202525—46-21
Q2 202527—48-21
Q1 202535—51-16

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$5.3M−$30.4M—−$88.0M$74.6M—$40.8M−$25.1M
Q2 2026$95.1M−$19.0M—−$247M−$169M—−$31.1M$76.1M
Q1 2026$108M−$20.1M—−$225M$138M—$6.4M$87.6M
Q4 2025$148M−$33.3M−$1.7M−$121M$97.7M$231K−$17.2M$115M
Q3 2025−$17.6M−$24.9M—−$44.3M−$49.7M$1.6M$71.1M−$42.4M
Q2 2025$134M−$18.8M−$5.1M−$40.8M−$3.5M$2.0M−$73.1M$115M
Q1 2025$86.2M−$15.2M—−$19.6M−$49.5M$8.3M−$253K$70.9M
Q4 2024$121M−$32.1M—−$84.6M−$5.0M$2.2M−$4.6M$88.6M

Bright Horizons Family Solutions: income statement and cash flow

Bright Horizons Family Solutions, Q3 2026: revenue $841M (+5% year over year), operating margin -22.2%. The chart follows the revenue to costs, profit and cash.

Bright Horizons Family Solutions: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.