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Bright Horizons . Bright Horizons Family Solutions Reports Third Quarter of 2021 Financial Results November 2 , 2021 NEWTON , Mass .-- ( BUSINESS WIRE ) -- Nov . 2 , 2021-- Bright Horizons Family Solutions® Inc. ( NYSE : BFAM ) , a leading provider of high - quality education and care solutions designed to help employers support employees across life and career stages , today announced financial results for the third quarter of 2021 . Third Quarter 2021 Highlights ( compared to Third Quarter 2020 ) : • Revenue of $ 460 million ( increase of $ 122 million ) • Income from operations of $ 46 million ( increase of $ 52 million ) • Net income of $ 27 million and diluted earnings per common share of $ 0.44 ( increases of $ 33 million and $ 0.55 , respectively ) Non - GAAP measures • Adjusted income from operations * of $ 46 million ( increase of $ 49 million ) • Adjusted EBITDA * of $ 79 million ( increase of $ 49 million ) Adjusted net income * of $ 39 million and diluted adjusted earnings per common share * of $ 0.64 ( increases of $ 37 million and $ 0.62 , respectively ) " I am pleased to report a solid quarter as our team continues to demonstrate resilience and agility in responding to ongoing changes in the working environment due to COVID - 19 , " said Stephen Kramer , Chief Executive Officer . " We continued to make good progress in the quarter including the re - opening of 23 centers and welcoming 19 new centers to the Bright Horizons family . " " The importance of childcare in the nation's recovery has never been more evident , with recruiting challenges impacting all sectors of the economy , and employees struggling to balance new work and life demands , as well as career growth goals . We are proud to be an integral and responsive partner in providing solutions for so many employers and working parents who need and expect high quality early education and care for their dependents , and for workers looking to build skills to serve the evolving needs of our changing economy . " Third Quarter 2021 Results Revenue increased $ 122.4 million , or 36 % , in the third quarter of 2021 from the third quarter of 2020 , primarily attributable to enrollment increases in our open child care centers and the re - opening of our temporarily closed child care centers , and to a lesser extent , expanded sales and utilization of back - up care services . While enrollment in our child care centers continued to improve during the quarter , our centers are still operating below pre - COVID - 19 enrollment levels during this re - ramping phase . Income from operations was $ 46.0 million for the third quarter of 2021 compared to a loss from operations of $ 5.9 million for the same period in 2020 . The increase in income from operations reflects improved gross profit contributions in the full service center - based child care segment arising from higher enrollment as centers re - ramp , and as temporarily closed centers are re - opened . The reduction in income from operations in our back - up care services reflects the shift in service delivery mix back towards pre - COVID - 19 levels , with increasing utilization of traditional in - home and center - based care compared to the prior year . Net income was $ 26.8 million for the third quarter of 2021 compared to a loss of $ 6.7 million in the same 2020 period , an increase of $ 33.5 million due to the increase in income from operations , partially offset by the effect of taxes . Diluted earnings per common share was $ 0.44 for the third quarter of 2021 compared to a diluted loss per common share of $ 0.11 for the third quarter of 2020 . In the third quarter of 2021 , adjusted EBITDA * increased $ 48.9 million , or 163 % , to $ 79.1 million , and adjusted income from operations * increased $ 48.9 million , to $ 46.0 million from the third quarter of 2020 , due primarily to the increase in gross profit in the full service center - based child care segment , partially offset by reduced contributions from our back - up care services . Adjusted net income * increased by $ 37.4 million , to $ 38.7 million , due to the increase in income from operations , partially offset by a higher effective tax rate . Diluted adjusted earnings per common share * was $ 0.64 for the third quarter of 2021 compared to $ 0.02 for the same period in 2020 . As of September 30 , 2021 , the Company had more than 1,300 client relationships with employers across a diverse array of industries , and operated 1,011 early education and child care centers with the capacity to serve approximately 113,000 children and their families , of which 949 early education and child care centers were open . * Adjusted EBITDA , adjusted income from operations , adjusted net income and diluted adjusted earnings per common share are non - GAAP measures . Adjusted EBITDA represents earnings before interest , taxes , depreciation , amortization , stock - based compensation expense , impairment costs and