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View All NewsHuman cloud firm Care.com revenue up 9% in Q2, sees growth ahead
Human cloud firm Care.com (NYSE: CRCM) yesterday reported second-quarter revenue rose 9.4% and the number of “members” rose 22% year over year. Care.com also reported growth ahead with third-quarter revenue expected to be up year over year by 7.6% to 8.8%.
The Waltham, Mass.-based firm connects families to caregivers for children, seniors and pets.
Second-quarter revenue was almost $42.0 million, and the company forecast third-quarter revenue of between $43.9 million and $44.4 million.
In a comment on earnings, CEO Sheila Lirio Marcelo cited continued improvement in growth of paying families and cash generation, and said the company will focus on innovation and “the roll-out of Care 3.0, an entirely new end-to-end mobile-first experience designed to improve our core subscription offering.” Marcelo is also founder and chairwoman of the company.
Net income at Care.com for the second quarter was almost $1.7 million. The firm had posted a net loss of $3.4 million in the second quarter of last year; that quarter included $714,000 in restructuring charges.
Total members on Care.com’s site rose 22% year over year to 25.2 million as of the end of the second quarter. Members that were families increased 23% to 14.2 million, and members that were caregivers increased 20% to 11.0 million.