First Advantage Corp

First Advantage Corp. provides technology solutions for screening, verifications, safety, and compliance related to human capital. Its product suite includes Criminal Background Checks, Drug & Health Screening, Extended Workforce Screening, Biometrics & Identity, Education & Work Verifications, Resident Screening, Fleet & Driver Compliance, Executive Screening, Data Analytics, Continuous Monitoring, Social Media Monitoring, and Hiring Tax Incentives. The company was founded in 2013 and is headquartered in Atlanta, GA.

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First Advantage Corp achieves record Q4 results, eyes growth opportunities

First Advantage Corp (FA) reported record revenue and profitability in Q4 2022, with a focus on enterprise clients and technology differentiation. While facing challenges in M&A valuations and sector gaps, FA sees opportunities in growth strategies and margin improvement.

First Advantage Corp reports solid Q1 earnings and focuses on customer service amidst industry challenges

First Advantage Corp's Q1 performance was strong, with revenues slightly exceeding expectations and a focus on customer service despite industry challenges. The company's balance sheet is robust, and its sustainability efforts are driving shareholder value. Opportunities lie in expanding customer base, leveraging risk mitigation trends, and investing in technology for future growth.

First Advantage Corp reports Q2 results, eyes growth amid challenges

First Advantage Corp (FA) navigated challenges in Q2 2023 with revenues meeting expectations, a special dividend declaration, and a focus on strategic growth initiatives.
Despite macroeconomic uncertainties impacting revenues and international operations, FA maintains a strong balance sheet and pursues opportunities for expansion and profitability.
The company's proactive approach to AI investments, capital allocation, and maintaining margins underscores its resilience and readiness to capitalize on future growth prospects.

First Advantage Corp reports resilient Q3 performance and eyes international growth

First Advantage Corp delivered strong financial performance in Q3, with revenue and EBITDA outperforming expectations.
The company's strategic investments in AI technology and digital identity solutions position it well for future growth.
Challenges in international markets require focused efforts on margin improvement and revenue growth strategies.
Opportunities lie in positive base revenue growth outlook for 2024 and potential market rebounds in APAC and India.

First Advantage Corp to Acquire Sterling Check Corp for $2.2B, Driving Growth and Innovation

First Advantage Corp's acquisition of Sterling Check Corp aims to drive growth, innovation, and cost synergies in the background screening industry.
The focus post-acquisition will be on integration, customer satisfaction, and leveraging AI to enhance operational efficiency.
Stable pricing trends, international market stabilization, and strategic financial management are critical success factors post-merger.
The combined entity is poised to capitalize on market opportunities and deliver value through product innovation and improved customer experiences.

First Advantage Corp reports Q1 results, eyes Sterling acquisition synergies

First Advantage Corp (FA) showcased solid performance in key sectors and progress on strategic initiatives in Q1 2024.
Preparations for the Sterling acquisition are advancing well, with expectations of significant synergies and revenue growth post-closing.
While facing revenue challenges and integration complexities, the company remains optimistic about achieving growth and operational improvements in the future.

First Advantage Corp doubles in size with Sterling acquisition, poised for growth

First Advantage Corp's Q3 2024 earnings call highlighted stable performance, successful acquisition of Sterling, and progress towards cost synergies. The company's focus on innovation, customer value, and operational efficiency sets a strong foundation for future growth.

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First Advantage Corp. provides technology solutions for screening, verifications, safety, and compliance related to human capital. Its product suite includes Criminal Background Checks, Drug & Health Screening, Extended Workforce Screening, Biometrics & Identity, Education & Work Verifications, Resident Screening, Fleet & Driver Compliance, Executive Screening, Data Analytics, Continuous Monitoring, Social Media Monitoring, and Hiring Tax Incentives. The company was founded in 2003 and is headquartered in Atlanta, GA.

Introduces Full Year 2024 Guidance Announces Agreement to Acquire Sterling Check Corp. Full Year 2023 Highlights1 Revenues of $763.8 million Net Income of $37.3 million; Adjusted Net Income of $145.8 million Adjusted EBITDA of $237.6 million GAAP Diluted Net Income Per Share of $0.26; Adjusted Diluted Earnings Per Share of $1.00 Cash Flows from Operations of $162.8 million Ended the year with Cash and Cash Equivalents of $213.8 million, after the $217.7 million one-time special dividend payment, $59.0 million in share repurchases, and the $41.0 million acquisition of Infinite ID Fourth Quarter 2023 Highlights1 Revenues of $202.6 million Net Income of $14.8 million; Adjusted Net Income of $42.6 million Adjusted EBITDA of $68.2 million GAAP Diluted Net Income Per Share of $0.10; Adjusted Diluted Earnings Per Share of $0.29 Cash Flows from Operations of $56.7 million Standalone First Advantage Full Year 2024 Guidance Introducing full-year 2024 guidance ranges for Revenues of $750 million to $800 million, Adjusted EBITDA of $228 million to $248 million, Adjusted Net Income of $127 million to $142 million, and Adjusted Diluted Earnings Per Share of $0.88 to $0.982 Acquisition of Sterling Check Corp. Announced today a definitive purchase agreement to acquire Sterling Check Corp. (NASDAQ: STER) (“Sterling Check” or “Sterling”) in a cash and stock transaction valued at approximately $2.2 billion. The transaction is expected to drive attractive total shareholder returns, including at least $50 million of synergies, implying expected double-digit Adjusted EPS accretion immediately on a run-rate synergy basis and accelerated earnings growth potential from topline development, synergies, and deleveraging.

First Advantage Reports Full Year and Fourth Quarter 2023 Results

ATLANTA and INDEPENDENCE, Ohio, Feb. 29, 2024 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ:FA), a leading provider of employment background screening, identity, and verification solutions, announced today that it has entered into a definitive purchase agreement to acquire Sterling Check Corp. (NASDAQ:STER), a provider of background screening and identity services. First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling's outstanding debt.

First Advantage to Acquire Sterling Check Corp. for $2.2 Billion in Cash and Stock

ATLANTA, Jan. 24, 2024 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, will issue its fourth quarter and full year 2023 financial results on Thursday, February 29, 2024 prior to the Company's earnings conference call, which will be held at 8:30 a.m. ET on the same day.

First Advantage to Release Fourth Quarter and Full Year 2023 Financial Results and Hold Investor Conference Call on February 29, 2024

ATLANTA, Jan. 09, 2024 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, today announced that Johnny C. Taylor, Jr., President and CEO of the Society for Human Resource Management (SHRM), will return as the keynote speaker for its annual Collaborate conference.

SHRM President and CEO Johnny C. Taylor, Jr. Returns as Keynote Speaker for First Advantage's Annual Collaborate Conference

First Advantage Corporation (NASDAQ:FA ) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET Company Participants Stephanie Gorman - Vice President of Investor Relations Scott Staples - Chief Executive Officer David Gamsey - Chief Financial Officer Conference Call Participants David Togut - Evercore ISI Ashish Sabadra - RBC Capital Markets Scott Wurtzel - Wolfe Research Shlomo Rosenbaum - Stifel Nicolaus Andrew Steinerman - J.P. Morgan Ronan Kennedy - Barclays Capital Stephanie Moore - Jefferies Kyle Peterson - Needham & Company Operator Good day, everyone.

First Advantage Corporation (FA) Q3 2023 Earnings Call Transcript

Third Quarter 2023 Highlights 1 Generated Revenues of $200.4 million Delivered Net Income of $10.8 million; Adjusted Net Income was $40.0 million Produced Adjusted EBITDA of $64.8 million Realized GAAP Diluted Net Income Per Share of $0.07; Adjusted Diluted Earnings Per Share was $0.28 Achieved Cash Flows from Operations of $34.4 million On August 31, 2023, paid a one-time special dividend of $1.50 per share, which represented a greater than 10% return of capital to shareholders On September 1, 2023, acquired Infinite ID, a U.S.-based digital identity solutions company for $41 million, funded with cash from the balance sheet Board of Directors approved a one-year extension of the existing share repurchase program, extending it through December 2024 2023 Full-Year Guidance The Company reiterates its full-year 2023 guidance ranges, expecting results at the low end of these ranges. This reflects the current hiring environment and expectations that existing macroeconomic conditions and similar labor market trends will continue through the end of fiscal year 2023.

First Advantage Reports Third Quarter 2023 Results

ATLANTA, Oct. 04, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, will issue its third quarter 2023 financial results on Thursday, November 9, 2023 prior to the Company's earnings conference call, which will be held at 8:30 a.m. ET on the same day.

First Advantage to Release Third Quarter 2023 Financial Results and Hold Investor Conference Call on November 9, 2023

ATLANTA, Sept. 05, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, today announced the acquisition of Infinite ID, a U.S.-based digital identity authentication solutions company and portfolio company of Enlightenment Capital. The $41 million all-cash transaction was funded with cash from the balance sheet and expands First Advantage's network and portfolio of identity solutions in the United States. Infinite ID is profitable and is expected to generate annual revenues of over $10 million.

First Advantage Expands Digital Identity Solutions by Acquiring Infinite ID

ATLANTA, Aug. 30, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, today announced that the Company's management team will participate in the following investor events in September:

First Advantage to Participate in Upcoming Investor Events

First Advantage Corporation (NASDAQ:FA ) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET Company Participants Stephanie Gorman - Vice President of Investor Relations Scott Staples - Chief Executive Officer David Gamsey - Chief Financial Officer Conference Call Participants Shlomo Rosenbaum - Stifel David Togut - Evercore ISI David Paige - RBC Capital Markets Andrew Steinerman - JPMorgan Stephanie Moore - Jefferies Ronan Kennedy - Barclays Kyle Peterson - Needham Pete Christiansen - Citigroup Operator Good day, everyone. My name is Todd, and I will be your conference operator today.

First Advantage Corporation (FA) Q2 2023 Earnings Call Transcript

First Advantage (FA) came out with quarterly earnings of $0.24 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.25 per share a year ago.

First Advantage (FA) Q2 Earnings Match Estimates

Second Quarter 2023 Highlights¹ Generated Revenues of $185.3 million; Constant Currency Revenues were $186.4 million Delivered Net Income of $9.8 million; Adjusted Net Income was $34.8 million Produced Adjusted EBITDA of $56.0 million; Constant Currency Adjusted EBITDA was $56.1 million Realized GAAP diluted net income per share of $0.07; Adjusted Diluted Earnings Per Share was $0.24 Achieved Cash Flows from Operations of $33.1 million First Advantage's Board of Directors declared a one-time special dividend of $1.50 per share, which represents a greater than 10% return of capital to shareholders 2023 Full-Year Guidance Second quarter Revenues and Adjusted EBITDA results were in-line with expectations communicated during the first quarter 2023 earnings conference call. The full-year 2023 guidance ranges are unchanged.

First Advantage Reports Second Quarter 2023 Results

ATLANTA, July 07, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, will issue its second quarter 2023 financial results on Wednesday, August 9, 2023 prior to the Company's earnings conference call, which will be held at 8:30 a.m. ET on the same day.

First Advantage to Release Second Quarter 2023 Financial Results and Hold Investor Conference Call on August 9, 2023

First Advantage Corporation published its Q1 2023 financial results on May 10, 2023. The firm provides organizations with an array of employee screening software and related services. Some of the company's customer verticals are seeing negative hiring trends, reducing the company's revenue outlook.

First Advantage Feels Effects Of Hiring Downturn

ATLANTA, May 30, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, today announced that Scott Staples, Chief Executive Officer, and David Gamsey, EVP and Chief Financial Officer, will participate in a fireside chat at the Stifel Cross Sector Insight Conference in Boston, MA at approximately 9:45 a.m. ET on Tuesday, June 6, 2023. Senior management will also be hosting private meetings with investors throughout the day.

First Advantage Corporation to Participate in the Stifel 2023 Cross Sector Insight Conference

First Advantage Corporation (NASDAQ:FA ) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Stephanie Gorman - VP, IR Scott Staples - CEO & Director David Gamsey - CFO & EVP Conference Call Participants David Togut - Evercore ISI Stephanie Moore - Jefferies Alex Hess - JPMorgan Chase & Co. Kyle Peterson - Needham & Company Heather Balsky - Bank of America Merrill Lynch Operator Good day, everyone. My name is Todd, and I will be your conference operator today.

First Advantage Corporation (FA) Q1 2023 Earnings Call Transcript

First Advantage (FA) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.22 per share a year ago.

First Advantage (FA) Tops Q1 Earnings and Revenue Estimates

First Quarter 2023 Highlights Generated Revenues of $175.5 million; Constant Currency Revenues¹ were $177.7 million Delivered Net Income of $1.9 million; Adjusted Net Income¹ was $28.4 million Produced Adjusted EBITDA¹ of $48.6 million; Constant Currency Adjusted EBITDA¹ was $49.1 million Realized GAAP diluted net income per share of $0.01; Adjusted Diluted EPS¹ was $0.19 Achieved Cash Flows from Operations of $38.6 million 2023 Full-Year Guidance The full-year 2023 guidance ranges are unchanged. The Company expects Revenues of $770 million to $810 million, Adjusted EBITDA of $240 million to $255 million, Adjusted Net Income of $145 million to $155 million, and Adjusted Diluted Earnings Per Share of $1.00 to $1.07² ATLANTA, May 10, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, today announced financial results for the first quarter ended March 31, 2023.

First Advantage Reports First Quarter 2023 Results

Proprietary Research Identifies Changes Underway in Dynamic Hiring Market Proprietary Research Identifies Changes Underway in Dynamic Hiring Market

First Advantage Announces Release of 2023 Annual Trends Report

Employment Background Screening and Verification Solution Provider Announces Next-Generation Profile Advantage® and Product Bundles During Annual Collaborate Conference Employment Background Screening and Verification Solution Provider Announces Next-Generation Profile Advantage® and Product Bundles During Annual Collaborate Conference

First Advantage Introduces Latest Innovations Designed to Streamline Screening Processes and Improve Applicant Experiences

ATLANTA, March 22, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, will issue its first quarter 2023 financial results on Wednesday, May 10, 2023 prior to the Company's earnings conference call, which will be held at 8:30 a.m. EDT on the same day.

First Advantage to Release First Quarter 2023 Financial Results and Hold Investor Conference Call on May 10, 2023

First Advantage Corporation (NASDAQ:FA ) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET Company Participants Stephanie Gorman - Vice President, Investor Relations Scott Staples - Chief Executive Officer David Gamsey - Chief Financial Officer Conference Call Participants Ashish Sabadra - RBC Capital Markets Kyle Peterson - Needham & Company Stephanie Moore - Jefferies Alex Hess - JPMorgan Ronan Kennedy - Barclays Heather Balsky - Bank of America Peter Christiansen - Citigroup Adam Parrington - Stifel Operator Good day, everyone. My name is Chelsea, and I will be your conference operator today.

First Advantage Corporation (FA) Q4 2022 Earnings Call Transcript

First Advantage (FA) delivered earnings and revenue surprises of 3.45% and 1.57%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

First Advantage (FA) Surpasses Q4 Earnings Estimates

Reports Record Full Year Revenues, Adjusted EBITDA, and Cash Flows from Operations; Introduces 2023 Guidance Reports Record Full Year Revenues, Adjusted EBITDA, and Cash Flows from Operations; Introduces 2023 Guidance

First Advantage Reports Full Year and Fourth Quarter 2022 Results

ATLANTA, Feb. 23, 2023 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, today announced that Scott Staples, Chief Executive Officer, and David Gamsey, EVP and Chief Financial Officer, will be presenting virtually at the 7th Annual Evercore ISI Payments & Fintech Innovators Forum on Friday, March 3, 2023 at approximately 11:00 a.m. Eastern Time. Company management will also participate in investor meetings on Thursday, March 2, 2023.

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