What was the net income for Brightstar Care at the end of the fiscal year 2024?
Brightstar_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 29, | December 31, | |
|---|---|---|
| Fiscal year ended | 2024 | 2023 |
| Cash Flows from Operating Activities | ||
| Net income | $ 19,857,711 | $ 17,922,426 |
| Adjustments to reconcile net income to net cash | ||
| provided by operating activities: | ||
| Depreciation and amortization expense | 2,846,570 | 1,992,427 |
| Credit loss expense | 810,260 | 344,476 |
| Non-cash change in operating leases | 206,189 | 405,955 |
| Net change in assets and liabilities: | ||
| Accounts receivable | (1,020,107) | (1,159,680) |
| Prepaid expenses | 71,111 | (894,269) |
| Inventory | - 74,793 | |
| Other current assets | 287,351 | 289,201 |
| Operating lease liabilities | 52,210 | (482,686) |
| Accounts payable | (1,326,172) | 102,163 |
| Accrued salaries and payroll tax | 238,312 | 614,843 |
| Other current liabilities | (281,876) | 252,188 |
| Net Cash Provided by Operating Activities | 21,741,559 | 19,461,837 |
| Cash Flows from Investing Activities | ||
| Notes receivable - affiliated companies | (16,053,520) | (16,272,451) |
| Purchase of property and equipment | (3,507,591) | (2,939,036) |
| Net Cash Used in Investing Activities | (19,561,111) | (19,211,487) |
| Net Increase in Cash and Cash Equivalents | 2,180,448 | 250,350 |
| Cash and Cash Equivalents, beginning of year | 267,218 | 16,868 |
| Cash and Cash Equivalents, end of year | $ 2,447,666 | $ 267,218 |
| Supplemental Non-Cash Disclosure | ||
| Deemed dividend, net | $ (12,809,284) | $ (24,307,339) |
| Lease liability from obtaining right-of-use asset | (1,645,787) | - |
Source: Item 23 — RECEIPTS (FDD pages 118–387)
What This Means (2025 FDD)
According to Brightstar Care's 2025 Franchise Disclosure Document, the net income for the fiscal year ended December 29, 2024, was $19,857,711. This figure represents the company's earnings after all revenues and expenses were accounted for during that period. Additionally, the net income attributable to BrightStar Franchising, LLC was $22,841,852.
It's important to note that the net income attributable to BrightStar Franchising, LLC factors in a deduction for the net loss attributable to the non-controlling interest, which was ($2,984,141) for the fiscal year ended December 29, 2024. This distinction is relevant for understanding the allocation of profits within the Brightstar Care organizational structure.
For a prospective franchisee, understanding Brightstar Care's net income can provide insight into the financial health and stability of the franchisor. While past performance is not indicative of future results, it can offer a degree of confidence in the brand's overall financial management and profitability. Reviewing these figures in conjunction with other financial data in the FDD, such as revenue and expenses, is crucial for a comprehensive assessment.