KinderCare Learning Companies, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

For the quarterly period ended July 4,2026

OR

For the transition period from to

Commission File Number:001-42367

(Exact Name of Registrant as Specified in its Charter)

Registrant’s telephone number, including area code: (503)872-1300

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

As of August 11, 2026, the registrant had 118,517,033 shares of common stock, $0.01 par value per share, outstanding.

Table of Contents

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by our use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “vision,” or “should,” or the negative thereof or other variations thereon or comparable terminology. Important factors that could cause actual results and events to differ materially from those indicated in the forward-looking statements include, among others, the following:

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our ability to attract and retain families in our centers, schools and programs, and to attract and retain employers that contract with us for family care benefits for their workforce.

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changes in the demand for child care and workplace solutions, which may be negatively affected by demographic trends and economic conditions, including unemployment rates, may materially and adversely affect our business, financial condition and results of operations.

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our ability to hire and retain qualified teachers and maintain strong employee engagement.

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a permanent shift in workforce demographics and office environments, which may result in decreased demand for center-based or site-based child care and have a materially adverse effect on our business, financial condition and results of operations.

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our dependence on key management and key employees to manage our business.

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adverse publicity that impacts the value of our brands and reputation as a provider of choice.

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significant competition in our industry.

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our ability to manage our labor costs.

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our ability to secure affordable real estate leases and renew existing leases on terms acceptable to us may affect our operating results.

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our reliance on third-party vendors and service providers exposes us to operational and cost risks that could adversely affect our business.

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seasonal fluctuations in our operating results.

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delays, disruptions or reductions in federally funded child care subsidies or tuition reimbursements or from reductions in certain federal, state and local government programs.

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reduction in the demand for our services from governmental universal child care benefit programs.

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acquisitions present many risks and may disrupt our operations, and we may not realize the financial and strategic goals that were contemplated at the time of the transaction.

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public health crises and outbreaks of widespread health pandemics or epidemics have in the past and may in the future adversely impact our business, financial condition and results of operations.

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our business, financial condition and results of operations may be materially and adversely affected by various litigation and regulatory proceedings.

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we have identified a material weakness in our internal control over financial reporting and if we fail to remediate this material weakness in a timely manner or at all, we may not be able to comply with our financial reporting obligations, which could expose us to legal and business risks and uncertainties.

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substantial indebtedness could adversely affect our ability to obtain capital to fund our operations, limit our flexibility in operating our business, expose us to interest rate risk to the extent of our variable rate debt, and limit cash flow available to invest in the ongoing needs of our business.

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impairment of goodwill or long-lived assets has negatively impacted, and may in the future negatively impact, our results of operations.

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the other factors described in the section titled “Risk Factors” in Part I Item 1A. in our Annual Report on Form 10-K for the fiscal year ended January 3, 2026 and elsewhere in this Quarterly Report on Form 10-Q.

Any forward-looking statement that we make in this Quarterly Report on Form 10-Q speaks only as of the date of such statement. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this Quarterly Report on Form 10-Q.