Care.com Inc (CRCM) has reported 211.44 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $4.98 million, or $0.12 a share in the quarter, compared with $1.60 million, or $0.05 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $7.14 million, or $0.20 a share compared with $4.80 million or $0.14 a share, a year ago.

Revenue during the quarter grew 15.88 percent to $43.51 million from $37.55 million in the previous year period. Gross margin for the quarter contracted 287 basis points over the previous year period to 80.30 percent. Total expenses were 85.78 percent of quarterly revenues, down from 89.34 percent for the same period last year. This has led to an improvement of 356 basis points in operating margin to 14.22 percent.

Operating income for the quarter was $6.19 million, compared with $4 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $9.05 million compared with $6.33 million in the prior year period. At the same time, adjusted EBITDA margin improved 395 basis points in the quarter to 20.80 percent from 16.85 percent in the last year period.

"2016 was a year of significant progress for Care.com, our first full-year with operating income as we continued to see overall topline growth. Key drivers in our results included rapid growth in our enterprise business, along with continuous optimization of our customer acquisition costs and improving overall unit economics in our consumer business. Thus, we exceeded our guidance expectations on both the top and bottom lines during the fourth quarter and the full year," said Sheila Lirio Marcelo, Founder, chairwoman and chief executive officer of Care.com.

For the first-quarter, Care.com Inc projects revenue to be in the range of $42.25 million to $42.75 million. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.02 to $0.03. 

For financial year 2017, Care.com Inc projects revenue to be in the range of $170 million to $172 million. The company forecasts diluted earnings per share to be in the range of $0.33 to $0.36 on adjusted basis.

The company has spent $15.58 million cash to meet investing activities during the year as against cash outgo of $4.32 million in the last year.

Cash flow from financing activities was $0.60 million for the year as against cash outgo of $1.06 million in the last year period.

Cash and cash equivalents stood at $61.09 million as on Dec. 31, 2016, down 0.24 percent or $0.15 million from $61.24 million on Dec. 26, 2015.

Working capital increases sharply
Care.com Inc has recorded an increase in the working capital over the last year. It stood at $56.96 million as at Dec. 31, 2016, up 136.74 percent or $32.90 million from $24.06 million on Dec. 26, 2015. Current ratio was at 2.82 as on Dec. 31, 2016, up from 1.51 on Dec. 26, 2015.

Days sales outstanding went up to 9 days for the quarter compared with 8 days for the same period last year.

At the same time, days payable outstanding went down to 14 days for the quarter from 23 for the same period last year.