FIRST ADVANTAGE CORP FA
First Advantage Corporation ("First Advantage" or the "Company") is a global software and data company. We provide comprehensive, end-to-end identity solutions, criminal background screening, credential verifications, drug and health screening, and continuous risk monitoring. Combining AI-powered proprietary technology platforms with proprietary data, primary source data, and third-party data, we help organizations hire with confidence and manage risk across the entire employee lifecycle.
We transform screening data into actionable intelligence—with benchmarking, insights, and continuous monitoring that help organizations make smarter workforce decisions.
With over 80,000 customers worldwide—including approximately two-thirds of the Fortune 100—we deliver fast, comprehensive, and reliable identity verification, screening, and monitoring solutions for employers, their candidates, and their employees. We conduct more than 200 million screens annually across over 200 countries and territories, supported by decades of experience and proprietary databases containing over 1 billion records.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.57B | $860.2M | $763.8M | $810.0M | $712.3M | $472.4M | $481.8M | — |
| R&D | $101.9M | $63.8M | $49.3M | $51.9M | $45.5M | $32.2M | $33.2M | — |
| SG&A | $236.2M | $263.9M | $116.7M | $116.6M | $108.0M | $66.9M | $85.1M | — |
| Total operating expenses | $1.44B | $922.6M | $682.2M | $715.7M | $648.5M | $474.4M | $389.6M | — |
| Operating income | $132.5M | -$62.4M | $81.5M | $94.3M | $63.8M | -$2.0M | $92.2M | — |
| Interest expense | $168.7M | $51.8M | $33.0M | $9.2M | $25.0M | $47.4M | $52.0M | — |
| Pre-tax income | -$37.3M | -$114.6M | $48.5M | $85.1M | $24.9M | -$58.8M | $41.1M | — |
| Income tax | $2.4M | $4.3M | $11.2M | $20.5M | $8.9M | $11.4M | $6.9M | — |
| Net income | -$34.8M | -$110.3M | $37.3M | $64.6M | $16.1M | -$47.5M | $34.2M | — |
| EPS, basic | -0.20 | -0.74 | 0.26 | 0.43 | 0.11 | -0.37 | 0.23 | — |
| EPS, diluted | -0.20 | -0.74 | 0.26 | 0.43 | 0.11 | -0.37 | 0.21 | — |
| Shares, diluted (wtd. avg.) | $173.2M | $148.6M | $146.2M | $151.8M | $141.7M | $130.0M | $163.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $240.0M | $168.7M | $213.9M | $391.8M | $292.8M | $153.0M | $80.7M | $30.3M |
| Short-term investments | — | — | $0 | $2.0M | $941.0K | $1.3M | — | — |
| Receivables | $297.3M | $266.8M | $142.7M | $143.8M | $155.8M | $111.4M | — | — |
| Total current assets | $561.7M | $476.0M | $373.7M | $566.2M | $466.2M | $277.8M | — | — |
| Property, plant and equipment | $250.9M | $307.5M | $79.4M | $113.5M | $154.3M | $190.3M | — | — |
| Goodwill | $2.14B | $2.12B | $820.7M | $793.1M | $793.9M | $770.1M | — | — |
| Other intangibles | $857.1M | $987.9M | $344.0M | $397.2M | $464.4M | $523.4M | — | — |
| Total assets | $3.83B | $3.92B | $1.63B | $1.89B | $1.89B | $1.76B | — | — |
| Accounts payable | $109.9M | $120.9M | $47.0M | $54.9M | $54.0M | $44.1M | — | — |
| Short-term debt | $0 | $21.9M | $0 | — | $0 | $6.7M | — | — |
| Total current liabilities | $230.5M | $250.7M | $85.0M | $100.8M | $109.3M | $97.8M | — | — |
| Long-term debt | $2.08B | $2.12B | $558.5M | $556.6M | $554.8M | $778.6M | — | — |
| Total liabilities | $2.52B | $2.62B | $723.9M | $759.2M | $754.3M | $969.4M | — | — |
| Retained earnings | -$194.6M | -$159.8M | -$49.5M | -$27.4M | -$31.4M | -$47.5M | — | — |
| Total equity | $1.31B | $1.31B | $906.7M | $1.13B | $1.13B | $794.3M | $779.7M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $195.1M | $28.2M | $162.8M | $212.8M | $148.7M | $72.9M | $71.6M | — |
| Depreciation and amortisation | $111.8M | $77.2M | $67.4M | $70.0M | $69.4M | $62.3M | $14.9M | — |
| Stock-based compensation | $24.5M | $31.8M | $15.3M | $7.9M | $9.5M | $1.9M | $1.2M | — |
| Capital expenditure | $6.6M | $1.7M | $2.1M | $6.2M | $7.3M | $5.3M | $6.6M | — |
| Investing cash flow | -$54.1M | -$1.65B | -$66.8M | -$48.6M | -$72.4M | -$15.6M | -$17.8M | — |
| Financing cash flow | -$70.8M | $1.58B | -$273.6M | -$59.2M | $63.8M | $46.4M | -$3.2M | — |
| Buybacks | — | — | $59.5M | $60.5M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-177294.
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