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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Care com Inc | NYSE:CRCM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.00 | 0 | 01:00:00 |
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Form 10-Q/A
|
(Amendment No. 1)
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[x]
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
||
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Care.com, Inc.
|
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
20-578-5879
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(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification Number)
|
77 Fourth Avenue, Fifth Floor
Waltham, MA
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02451
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
|
Name of exchange on which registered
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Common Stock, par value $0.001
|
|
The New York Stock Exchange
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Securities registered pursuant to Section 12(g) of the Act:
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||
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None
|
|
Large accelerated filer
|
[ ]
|
|
Accelerated filer
|
[x]
|
Non-accelerated filer
|
[ ]
|
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
[ ]
|
|
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Emerging growth company
|
[x]
|
ITEM 2.
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
As of
|
||||||
|
March 31,
2018 |
|
April 1,
2017 |
||||
Total members
|
28,420
|
|
|
24,030
|
|
||
Total families
|
16,195
|
|
|
13,593
|
|
||
Total caregivers
|
12,225
|
|
|
10,437
|
|
||
Paying families - U.S. Consumer Business
|
318
|
|
|
292
|
|
||
Monthly average revenue per paying family - U.S. Consumer Business
|
$
|
40
|
|
|
$
|
41
|
|
•
|
adjusted EBITDA does not include accretion of Series A Redeemable Convertible Preferred Stock dividends or issuance costs;
|
|
Three Months Ended
|
||||||
|
March 31,
2018 |
|
April 1,
2017 |
||||
Net income
|
$
|
2,697
|
|
|
$
|
824
|
|
|
|
|
|
||||
Federal, state and franchise taxes
|
(439
|
)
|
|
294
|
|
||
Other income, net
|
(562
|
)
|
|
(301
|
)
|
||
Depreciation and amortization
|
463
|
|
|
601
|
|
||
EBITDA
|
2,159
|
|
|
1,418
|
|
||
|
|
|
|
||||
Stock-based compensation
|
3,712
|
|
|
1,603
|
|
||
Merger and acquisition related costs
|
176
|
|
|
—
|
|
||
Restructuring related costs
|
462
|
|
|
—
|
|
||
Litigation related costs
|
—
|
|
|
75
|
|
||
Software implementation costs
|
153
|
|
|
—
|
|
||
Severance related costs
|
67
|
|
|
31
|
|
||
Adjusted EBITDA
|
$
|
6,729
|
|
|
$
|
3,127
|
|
|
Three Months Ended
|
||||||
|
March 31,
2018 |
|
April 1,
2017 |
||||
|
|
|
|
||||
Revenue
|
$
|
47,325
|
|
|
$
|
43,366
|
|
Cost of revenue
|
9,443
|
|
|
8,766
|
|
||
Operating expenses:
|
|
|
|
||||
Selling and marketing
|
16,857
|
|
|
19,197
|
|
||
Research and development
|
8,288
|
|
|
5,989
|
|
||
General and administrative
|
10,467
|
|
|
8,255
|
|
||
Depreciation and amortization
|
418
|
|
|
424
|
|
||
Restructuring charges
|
462
|
|
|
—
|
|
||
Total operating expenses
|
36,492
|
|
|
33,865
|
|
||
Operating income
|
1,390
|
|
|
735
|
|
||
Other income, net
|
562
|
|
|
301
|
|
||
Income before income taxes
|
1,952
|
|
|
1,036
|
|
||
(Benefit from) provision for income taxes
|
(745
|
)
|
|
212
|
|
||
Net income
|
2,697
|
|
|
824
|
|
||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(680
|
)
|
|
(602
|
)
|
||
Net income attributable to Series A Redeemable Convertible Preferred Stock
|
(276
|
)
|
|
(30
|
)
|
||
Net income attributable to common stockholders
|
$
|
1,741
|
|
|
$
|
192
|
|
|
|
|
|
||||
Net income per share attributable to common stockholders (Basic)
|
$
|
0.06
|
|
|
$
|
0.01
|
|
Net income per share attributable to common stockholders (Diluted)
|
$
|
0.05
|
|
|
$
|
0.01
|
|
|
|
|
|
||||
Weighted-average shares used to compute net income per share attributable to common stockholders:
|
|
|
|
||||
Basic
|
30,551
|
|
|
29,149
|
|
||
Diluted
|
33,344
|
|
|
31,282
|
|
|
Three Months Ended
|
||||||
|
March 31,
2018 |
|
April 1,
2017 |
||||
|
|
|
|
||||
Cost of revenue
|
$
|
64
|
|
|
$
|
92
|
|
Selling and marketing
|
474
|
|
|
246
|
|
||
Research and development
|
809
|
|
|
281
|
|
||
General and administrative
|
2,365
|
|
|
984
|
|
||
Total stock-based compensation
|
$
|
3,712
|
|
|
$
|
1,603
|
|
|
Three Months Ended
|
||||
|
March 31,
2018 |
|
April 1,
2017 |
||
Revenue
|
100
|
%
|
|
100
|
%
|
Cost of revenue
|
20
|
%
|
|
20
|
%
|
Operating expenses:
|
|
|
|
||
Selling and marketing
|
36
|
%
|
|
44
|
%
|
Research and development
|
18
|
%
|
|
14
|
%
|
General and administrative
|
22
|
%
|
|
19
|
%
|
Depreciation and amortization
|
1
|
%
|
|
1
|
%
|
Restructuring charges
|
1
|
%
|
|
—
|
%
|
Total operating expenses
|
77
|
%
|
|
78
|
%
|
Operating income
|
3
|
%
|
|
2
|
%
|
Other income, net
|
1
|
%
|
|
1
|
%
|
Income before income taxes
|
4
|
%
|
|
2
|
%
|
(Benefit from) provision for income taxes
|
(2
|
)%
|
|
—
|
%
|
Net income
|
6
|
%
|
|
2
|
%
|
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(1
|
)%
|
|
(1
|
)%
|
Net income attributable to Series A Redeemable Convertible Preferred Stock
|
(1
|
)%
|
|
—
|
%
|
Net income attributable to common stockholders
|
4
|
%
|
|
—
|
%
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
Revenue
|
$
|
47,325
|
|
|
$
|
43,366
|
|
|
$
|
3,959
|
|
|
9
|
%
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
Cost of revenue
|
$
|
9,443
|
|
|
$
|
8,766
|
|
|
$
|
677
|
|
|
8
|
%
|
Percentage of revenue
|
20
|
%
|
|
20
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
Selling and marketing
|
$
|
16,857
|
|
|
$
|
19,197
|
|
|
$
|
(2,340
|
)
|
|
(12
|
)%
|
Percentage of revenue
|
36
|
%
|
|
44
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
Research and development
|
$
|
8,288
|
|
|
$
|
5,989
|
|
|
$
|
2,299
|
|
|
38
|
%
|
Percentage of revenue
|
18
|
%
|
|
14
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
General and administrative
|
$
|
10,467
|
|
|
$
|
8,255
|
|
|
$
|
2,212
|
|
|
27
|
%
|
Percentage of revenue
|
22
|
%
|
|
19
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
Depreciation and amortization
|
$
|
418
|
|
|
$
|
424
|
|
|
$
|
(6
|
)
|
|
(1
|
)%
|
Percentage of revenue
|
1
|
%
|
|
1
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31, 2018
|
|
April 1, 2017
|
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
Restructuring charges
|
$
|
462
|
|
|
$
|
—
|
|
|
$
|
462
|
|
|
100
|
%
|
Percentage of revenue
|
1
|
%
|
|
—
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
|
|
|
|
|
|
|
|||||||
Other income, net
|
$
|
562
|
|
|
$
|
301
|
|
|
$
|
261
|
|
|
87
|
%
|
Percentage of revenue
|
1
|
%
|
|
1
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|||||||||||
|
March 31,
2018 |
|
April 1,
2017 |
|
$ Change
|
|
% Change
|
|||||||
|
(in thousands, except percentages)
|
|||||||||||||
(Benefit from) provision for income taxes
|
$
|
(745
|
)
|
|
$
|
212
|
|
|
$
|
(957
|
)
|
|
(451
|
)%
|
Percentage of revenue
|
(2
|
)%
|
|
—
|
%
|
|
|
|
|
|
Three Months Ended
|
||||||
|
March 31,
2018 |
|
April 1,
2017 |
||||
Cash flow provided by (used in):
|
|
|
|
||||
Operating activities
|
$
|
9,443
|
|
|
$
|
4,585
|
|
Investing activities
|
(5,243
|
)
|
|
(271
|
)
|
||
Financing activities
|
868
|
|
|
1,330
|
|
||
Effect of exchange rates on cash balances
|
91
|
|
|
(421
|
)
|
||
Increase in cash and cash equivalents
|
$
|
5,159
|
|
|
$
|
5,223
|
|
|
|
|
|
|
|
Incorporated by Reference
|
||||
Exhibit Number
|
|
Exhibit Description
|
|
Filed with this Form 10-Q/A
|
|
Form
|
|
Filing Date
with SEC
|
|
Exhibit Number
|
31.1
|
|
|
X
|
|
|
|
|
|
|
|
31.2
|
|
|
X
|
|
|
|
|
|
|
|
32.1
|
|
|
X
|
|
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
X
|
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Schema Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Calculation Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Definition Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Labels Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Presentation Linkbase Document
|
|
X
|
|
|
|
|
|
|
|
|
|
CARE.COM, INC.
|
|
|
|
|
Dated: May 9, 2018
|
|
|
By:
/s/ SHEILA LIRIO MARCELO
|
|
|
|
Sheila Lirio Marcelo
|
|
|
|
President and Chief Executive Officer and Director
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
Dated: May 9, 2018
|
|
|
By:
/s/ MICHAEL ECHENBERG
|
|
|
|
Michael Echenberg
|
|
|
|
Executive Vice President and Chief Financial Officer
|
|
|
|
(Principal Financial and Accounting Officer)
|
|
|
|
|
1 Year Care com Chart |
1 Month Care com Chart |
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