Bright Horizons Family Solutions Inc. · NYSE:BFAM
Bright Horizons Family Solutions — Investor Presentation (May 2026)
34 slides from Bright Horizons Family Solutions's investor presentation, May 5, 2026
Slide 1: Bright Horizons Investor Presentation May 2026
Bright Horizons Investor Presentation May 2026 Exhibit 99.2
Slide 2: Forward Looking Statement Disclaimer
Forward Looking Statement Disclaimer This presentation includes “forward-looking statements” within the meaning of, and made pursuant to, the safe harbor provisions of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Refor
Slide 3: Bright Horizons Investment Thesis
Shift toward Back-Up Care is driving profitability Back-Up Care contributed over 60% of 2025 adj. op. income, with asset-light, high-margin economics driving continued mix-driven earnings growth Large growth runway across penetration, new logos and expanded offerings Under-penetrated clients and a l
Slide 4: Proven Model with Consistent Long-Term Results
Revenue Growth 8% CAGR Since IPO Adj. Op. Income Growth 9% CAGR Since IPO Free Cash Flow Growth 9% CAGR Since IPO Adj. EPS Growth 12% CAGR Since IPO Proven Model with Consistent Long-Term Results © 2026 Bright Horizons Family Solutions LLC 4 1,219 2,934 2013 2025 127 363 2013 2025 90 259 2013 2025 $
Slide 5: The Strategic Rationale Behind Our Service Offerings
The Strategic Rationale Behind Our Service Offerings © 2026 Bright Horizons Family Solutions LLC 5 1) Where working families have a need 2) Where employers and institutions are willing to invest 3) Where we can deliver at scale with strong economics Back-Up Care Full- Service Center Ed Advisory
Slide 6: Workforce Flexibility Is Here to Stay
87% Of Bright Horizons back-up users report higher productivity and decreased stress1 Workforce Flexibility Is Here to Stay Care Benefits Mission-Critical Talent Tool 1 Brighthorizons.com/article/employers/5-ways-to-maximize-productivity-with-back-up-care. 2 Child Care Aware of America / New Bridge
Slide 7: Employer Partnerships Are a Significant Competitive Moat
Healthcare 32% Financial Services 18% Education 13% Consumer 9% Professional Services 7% Technology 10% Industrial 7% © 2026 Bright Horizons Family Solutions LLC 7 90%+ Client Satisfaction 8% Top 10 Client Relationships 1% Largest Client Relationship Key Highlights Partnership Overview1 Depth and du
Slide 8: Scaled Delivery Model with Strong Economics
2,081M CY25 Revenue 114M CY25 Adj. Op. Income Primary Growth Driver Back-Up Care On-Demand Dependent Care ~15% Revenue CAGR (10Y) 728M CY25 Revenue 222M CY25 Adj. Op. Income 125M CY25 Revenue 27M CY25 Adj. Op. Income © 2026 Bright Horizons Family Solutions LLC 8 Established Platform Full-Service Chi
Slide 9: Back-Up Care Segment Deep Dive
Back-Up Care Segment Deep Dive
Slide 10: Back-Up Care: Mission-Critical with Significant Competitive Advantage
Why it Matters: • Mission-critical employee benefit that supports working parents and caregivers • Proven ROI for employers – reduces absenteeism, boosts productivity • Growing engagement from target employee segments • Differentiator in talent markets to retain and support critical employees How We
Slide 11: Double-Digit Growth with High Returns on Capital
20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 725M+ ~ 100M © 2026 Bright Horizons Family Solutions LLC 11 Back-Up Care Revenue Trajectory ( M) Key Highlights Double-Digit Growth Rate Utilization-driven, durable growth +14% 15Y Rev CAGR High-Margin As
Slide 12: Large, Multi-Need Employee Population Drives Back-Up Care Demand
Aging Parent Child/Adult Tutoring PetCare Active Elder Caregiver School Age Young Children Young Child (0-5 yrs old) © 2026 Bright Horizons Family Solutions LLC 12 Large, Multi-Need Employee Population Drives Back-Up Care Demand 13% More than 4 in 5 U.S. workers have at least one Back-Up care need S
Slide 13: Significant White Space Across Industry Verticals
Healthcare Financial Services Education Technology Consumer Professional Services Industrial 0% 10% 20% 15% 5% Penetration Rate (unique users / eligible employees) Lower Penetration Higher Penetration 5th 95th 25th – 75th © 2026 Bright Horizons Family Solutions LLC 13 Significant White Space Acr
Slide 14: Expanding Care Network and Service Portfolio
Childcare Centers School-Age Programs Academic Tutoring Pet care In-Home Elder Care & Caregiving Advisory Network Tutoring Providers (launched 2021) Steve & Kate’s Camps (acq. 2021) Science Factory (launched 2026) Network Camp Providers BH Centers Network Centers Jovie (acq. 2016) Network In-Home Pr
Slide 15: Significant White Space Across the Employer Landscape
Bright Horizons 5% Others 2% Industrial Consumer Services Healthcare Tech Financial Services Fortune 500 Fortune 500 by Vertical Vended Unvended Fortune 500 Back-Up Care Industry-Wide Adoption < 250 728 Others Bright Horizons 2025 Back-Up Care Revenue ( M) Market Structure (21,000 businesses >500 em
Slide 16: Back-Up Care Growth Levers Driving Velocity
Back-Up Care Growth Levers Driving Velocity © 2026 Bright Horizons Family Solutions LLC 16 2025 Back-Up Care Revenue Back-Up Care Potential 728M Unvended Market Opportunity Significant whitespace for new adoption across employers New Logos in Vended Market Opportunity to take market share with leadi
Slide 17: Full-Service Segment Deep Dive
Full-Service Segment Deep Dive
Slide 18: Full-Service Child Care: Strategic Role and Competitive Advantage
32% 71% Why it Matters: • Foundational to our brand and trust by families for over 40 years • Critical infrastructure for working parents – enables workforce participation/persistence • Anchor benefit in employer support strategies, particularly with RTO and new parents • Efficient model with capita
Slide 19: A Worldwide Network of Child Care Delivery
18,450 9,250 2,450 2,050 Employees: 7,000 6,500 22,500 79,000 Capacity: 78 72 263 597 Centers: © 2026 Bright Horizons Family Solutions LLC 19 U.S. U.K. Netherlands Australia Strategic Focus Client sponsored centers with operating subsidies Quality provider in fragmented market with attractive govern
Slide 20: Full-Service Operating Models Support Capital Efficiency & Mitigate Financial Risk
Single Sponsor / Bottom Line Client Receives Priority Enrollment; Open to Community Capital Investment Occupancy Expenses Operating Expenses Financial Risk Enrollment Center Location Consortium Lease Near Office Hub or Residential / Commuter Corridor Open to the Community BH BH BH Cost Plus Exclusiv
Slide 21: Client-Centric Platform with Strong Cash Generation
20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 2B+ ~ 770M © 2026 Bright Horizons Family Solutions LLC 21 Client-Centric Platform with Strong Cash Generation Full-Service Revenue Trajectory ( M) Key Highlights Long-Term Stability Contracted, long-durat
Slide 22: EdAdvisory Segment Deep Dive
EdAdvisory Segment Deep Dive
Slide 23: EdAdvisory: Strategic Role and Competitive Advantage
4% Why it Matters: • Critical support spanning workforce education, tuition assistance and college planning • Boosts retention across employee career advancement and family education journeys • Differentiated benefit backed by expert advisors and education networks • Builds loyalty by impacting care
Slide 24: EdAdvisory Revenue Trajectory
20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 © 2026 Bright Horizons Family Solutions LLC 24 120M+ ~ 10M EdAdvisory Revenue Trajectory ( M) Key Highlights Long-Term Growth On contracted employer demand 18% 15Y Rev CAGR 500+ Clients High-Margin Asset-
Slide 25: Financial Performance & Capital Allocation
Financial Performance & Capital Allocation
Slide 26: Proven Foundation, Unique Market Position, Durable Cash Generation
Proven Foundation Unique Market Position Durable Cash Generation • 40-year operating history; trusted, mission-critical brand • 1,450+ employer clients, including 220+ Fortune 500 • High client retention – multi-year contracts with embedded employer relationships • 32K+ employees; operating across U
Slide 27: Consistent Track Record of Driving Growth
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Consistent Track Record of Driving Growth R ev en ue Adj. EBITDA Margin © 2026 Bright Horizons Family Solutions LLC 27 COVID- Impacted Great Financial Crisis Do
Slide 28: Longer-Term Growth Building Blocks
Longer-Term Growth Building Blocks Full-Service Back-Up Care Ed Advisory Acquisitions +6.5%-8.5% +3.0%-3.5% +3.5-4.5% Organic Revenue Growth © 2026 Bright Horizons Family Solutions LLC 28 4.5% - 6.5% Y/Y 11% - 13% Y/Y +<1% HSD Y/Y 9-10% 25-30% 20%+ Adj. Op. Margin % Segment Rev Growth
Slide 29: Capital Deployment Mix and Priorities
Capital Deployment Mix and Priorities © 2026 Bright Horizons Family Solutions LLC 29 29% 29% 42% Capex (net) M&A Repurchases 29% 29% 42% Capex (net) M&A Repurchases Since IPO (’13 – ’25) 2025 8 70% ( t) Repurchases 01 02 03 REINVEST IN THE CORE SELECTIVE M&A RETURN EXCESS CAPITAL – Growth capex – Fu
Slide 30: Strong & Consistent Free Cash Flow Conversion
© 2026 Bright Horizons Family Solutions LLC 30 100% 99% 97% 105% 105% 113% 123% 118% 106% 103% 106% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Free Cash Flow Conversion (FCF / Adj. Net Income) 3Y Trailing FCF Conversion Annual FCF Conversion Strong & Consistent Free Cash Flow Conversion
Slide 31: Balance Sheet Position Has Strengthened
+1-2% Balance Sheet Position Has Strengthened 6-8% 4.8x 3.5x 2.6x 2.9x 1.7x 2012 (Pre-IPO) 2013 (Post-IPO) 2019 (Pre-COVID) 2020 (COVID- Impacted) 2025 Net Leverage (at Year-End) for Selected Years Net Debt / Adj. EBITDA © 2026 Bright Horizons Family Solutions LLC 31
Slide 32: 5Y Historical Financial Snapshot
2025 2024 2023 2022 2021 Financials in ($M USD) 2,081 1,962 1,781 1,494 1,297 Full Service 6% 10% 19% 15% 26% % Growth 728 610 526 421 361 Back-Up Care 19% 16% 25% 17% (8)% % Growth 125 114 112 105 97 Ed. Advisory 9% 2% 6% 9% 6% % Growth 2,934 2,686 2,418 2,020 1,755 Total Revenue 9% 11% 20% 15% 16%
Slide 33: Non-GAAP Reconciliation
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 Financials in ($M USD) 315 247 171 158 129 53 268 239 205 197 182 147 109 GAAP Operating Income (EBIT) 47 30 36 14 11 35 - - - - - - - COVID-19, Impairment & related lease term costs 1 1 5 11 1 3 1 2 7 2 1 3 18 Other costs 363 278 213
Slide 34: Thank You
Thank You
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