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First Advantage Corp Financials

FA
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December
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This page shows First Advantage Corp (FA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue
$860.2M
YoY+20.8%

First Advantage Corp generated $860.2M in revenue in fiscal year 2024. This represents an increase of 20.8% from the prior year.

EBITDA
$14.8M
YoY-88.9%

First Advantage Corp's EBITDA was $14.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 88.9% from the prior year.

Free Cash Flow
$26.5M
YoY-81.3%

First Advantage Corp generated $26.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 81.3% from the prior year.

Net Income
-$110.3M
YoY-787.0%

First Advantage Corp reported -$110.3M in net income in fiscal year 2024. This represents a decrease of 787.0% from the prior year.

EPS (Diluted)
$-0.74
YoY-772.7%

First Advantage Corp earned $-0.74 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 772.7% from the prior year.

Cash & Debt
$168.7M
YoY-42.4%

First Advantage Corp held $168.7M in cash against $2.1B in long-term debt as of fiscal year 2024.

Dividends Per Share
$1.50

First Advantage Corp paid $1.50 per share in dividends in fiscal year 2024.

Shares Outstanding
173M
YoY+13.3%

First Advantage Corp had 173M shares outstanding in fiscal year 2024. This represents an increase of 13.3% from the prior year.

Gross Margin
N/A
Operating Margin
-7.2%
YoY-16.2pp

First Advantage Corp's operating margin was -7.2% in fiscal year 2024, reflecting core business profitability. This is down 16.2 percentage points from the prior year.

Net Margin
-12.8%
YoY-15.1pp

First Advantage Corp's net profit margin was -12.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 15.1 percentage points from the prior year.

Return on Equity
4.1%
YoY+2.7pp

First Advantage Corp's ROE was 4.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.7 percentage points from the prior year.

R&D Spending
$63.8M
YoY+40.2%

First Advantage Corp invested $63.8M in research and development in fiscal year 2024. This represents an increase of 40.2% from the prior year.

Share Buybacks
$0

First Advantage Corp spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$1.7M
YoY-76.5%

First Advantage Corp invested $1.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 76.5% from the prior year.

FA Income Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Revenue $409.2M+4.7% $390.6M+10.2% $354.6M+75.1% $202.6M+1.1% $200.4M+8.1% $185.3M+5.6% $175.5M-17.4% $212.6M
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses $25.1M-2.1% $25.7M-5.4% $27.2M+149.4% $10.9M-16.9% $13.1M+3.7% $12.6M+0.2% $12.6M+5.5% $12.0M
SG&A Expenses $57.5M0.0% $57.5M-12.4% $65.6M+135.5% $27.9M-7.8% $30.2M+0.8% $30.0M+4.5% $28.7M-0.8% $28.9M
Operating Income $42.2M+11.9% $37.7M+395.4% $7.6M-74.1% $29.4M+26.6% $23.2M+31.6% $17.6M+56.3% $11.3M-60.7% $28.7M
Interest Expense -$40.0M+10.6% -$44.8M+3.9% -$46.6M-260.7% -$12.9M-70.9% -$7.6M-94.4% -$3.9M+55.2% -$8.7M-67.0% -$5.2M
Income Tax -$798K+89.5% -$7.6M-441.1% $2.2M+35.0% $1.7M-66.1% $4.9M+23.0% $4.0M+482.7% $681K-80.0% $3.4M
Net Income $2.6M+741.9% $308K+100.7% -$41.2M-378.1% $14.8M+37.5% $10.8M+10.1% $9.8M+408.2% $1.9M-90.4% $20.1M
EPS (Diluted) $0.01 $0.00+100.0% $-0.24-318.2% $0.11+57.1% $0.070.0% $0.07+600.0% $0.01-92.9% $0.14

FA Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Total Assets $3.9B-0.4% $3.9B0.0% $3.9B+137.4% $1.6B+0.1% $1.6B-11.4% $1.8B-0.5% $1.8B-2.0% $1.9B
Current Assets $542.4M+7.9% $502.8M+6.6% $471.8M+26.2% $373.7M+7.0% $349.3M-38.9% $571.7M+2.9% $555.5M-1.9% $566.2M
Cash & Equivalents $216.8M+17.7% $184.3M+7.1% $172.0M-19.5% $213.8M+29.7% $164.9M-58.7% $399.1M-0.3% $400.2M+2.2% $391.7M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $291.0M+2.8% $283.1M+6.4% $266.1M+86.5% $142.7M-9.1% $156.9M+12.1% $140.0M+9.4% $128.0M-11.0% $143.8M
Goodwill $2.1B-0.1% $2.1B+0.7% $2.1B+159.3% $820.7M0.0% $821.0M+3.5% $793.6M0.0% $793.3M0.0% $793.1M
Total Liabilities $2.6B-0.7% $2.6B-0.8% $2.6B+258.2% $723.9M-2.4% $741.4M-0.3% $744.0M+0.5% $740.3M-2.5% $759.2M
Current Liabilities $239.8M-5.4% $253.4M+5.1% $241.0M+183.4% $85.0M-10.3% $94.8M+5.2% $90.1M+6.1% $85.0M-15.7% $100.8M
Long-Term Debt $2.1B-0.1% $2.1B-0.6% $2.1B+279.2% $558.5M+0.1% $558.0M+0.1% $557.6M+0.1% $557.1M+0.1% $556.6M
Total Equity $1.3B+0.2% $1.3B+1.6% $1.3B+41.0% $906.7M+2.1% $888.0M-18.8% $1.1B-1.2% $1.1B-1.7% $1.1B
Retained Earnings -$198.1M+1.3% -$200.7M+0.2% -$201.0M-305.7% -$49.5M+19.2% -$61.4M+10.4% -$68.5M-34.5% -$51.0M-86.2% -$27.4M

FA Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Operating Cash Flow N/A N/A $19.5M N/A N/A N/A $38.6M N/A
Capital Expenditures N/A N/A $485K N/A N/A N/A $42K N/A
Free Cash Flow N/A N/A $19.0M N/A N/A N/A $38.6M N/A
Investing Cash Flow N/A N/A -$11.1M N/A N/A N/A -$6.1M N/A
Financing Cash Flow N/A N/A -$6.0M N/A N/A N/A -$24.2M N/A
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A $0-100.0% $3.0M-17.0% $3.6M-86.8% $27.3M+7.1% $25.5M N/A

FA Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 10.3%+0.7pp 9.7%+7.5pp 2.1%-12.3pp 14.5%+2.9pp 11.6%+2.1pp 9.5%+3.1pp 6.4%-7.1pp 13.5%
Net Margin 0.6%+0.5pp 0.1%+11.7pp -11.6%-18.9pp 7.3%+1.9pp 5.4%+0.1pp 5.3%+4.2pp 1.1%-8.4pp 9.5%
Return on Equity 0.2%+0.2pp 0.0% N/A 1.6%+0.4pp 1.2%+0.3pp 0.9%+0.7pp 0.2%-1.6pp 1.8%
Return on Assets 0.1%+0.1pp 0.0%+1.1pp -1.1%-2.0pp 0.9%+0.3pp 0.7%+0.1pp 0.5%+0.4pp 0.1%-1.0pp 1.1%
Current Ratio 2.26+0.3 1.98+0.0 1.96-2.4 4.39+0.7 3.69-2.7 6.35-0.2 6.54+0.9 5.62
Debt-to-Equity 1.620.0 1.62-0.0 1.66+1.0 0.62-0.0 0.63+0.1 0.510.0 0.500.0 0.49
FCF Margin N/A N/A 5.3% N/A N/A N/A 22.0% N/A

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 38 / 100
Financial Profile 38/100
Profitability
0
Growth
88
Leverage
51
Liquidity
56
Cash Flow
15
Returns
16

Based on FY2024 annual data. Scores normalized against common benchmarks.

Piotroski F-Score Weak
2/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Mixed
-0.26x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage At Risk
-1.2x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is First Advantage Corp's annual revenue?

First Advantage Corp (FA) reported $860.2M in total revenue for fiscal year 2024. This represents a 20.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is First Advantage Corp's revenue growing?

First Advantage Corp (FA) revenue grew by 20.8% year-over-year, from $712.3M to $860.2M in fiscal year 2024.

Is First Advantage Corp profitable?

No, First Advantage Corp (FA) reported a net income of -$110.3M in fiscal year 2024, with a net profit margin of -12.8%.

What is First Advantage Corp's earnings per share (EPS)?

First Advantage Corp (FA) reported diluted earnings per share of $-0.74 for fiscal year 2024. This represents a -772.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is First Advantage Corp's EBITDA?

First Advantage Corp (FA) had EBITDA of $14.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does First Advantage Corp have?

As of fiscal year 2024, First Advantage Corp (FA) had $168.7M in cash and equivalents against $2.1B in long-term debt.

What is First Advantage Corp's operating margin?

First Advantage Corp (FA) had an operating margin of -7.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is First Advantage Corp's net profit margin?

First Advantage Corp (FA) had a net profit margin of -12.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does First Advantage Corp pay dividends?

Yes, First Advantage Corp (FA) paid $1.50 per share in dividends during fiscal year 2024.

What is First Advantage Corp's return on equity (ROE)?

First Advantage Corp (FA) has a return on equity of 4.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is First Advantage Corp's free cash flow?

First Advantage Corp (FA) generated $26.5M in free cash flow during fiscal year 2024. This represents a -81.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is First Advantage Corp's operating cash flow?

First Advantage Corp (FA) generated $28.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are First Advantage Corp's total assets?

First Advantage Corp (FA) had $3.9B in total assets as of fiscal year 2024, including both current and long-term assets.

What are First Advantage Corp's capital expenditures?

First Advantage Corp (FA) invested $1.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does First Advantage Corp spend on research and development?

First Advantage Corp (FA) invested $63.8M in research and development during fiscal year 2024.

How many shares does First Advantage Corp have outstanding?

First Advantage Corp (FA) had 173M shares outstanding as of fiscal year 2024.

What is First Advantage Corp's current ratio?

First Advantage Corp (FA) had a current ratio of 1.90 as of fiscal year 2024, which is generally considered healthy.

What is First Advantage Corp's debt-to-equity ratio?

First Advantage Corp (FA) had a debt-to-equity ratio of 1.62 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Advantage Corp's return on assets (ROA)?

First Advantage Corp (FA) had a return on assets of -2.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is First Advantage Corp's Piotroski F-Score?

First Advantage Corp (FA) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are First Advantage Corp's earnings high quality?

First Advantage Corp (FA) has an earnings quality ratio of -0.26x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can First Advantage Corp cover its interest payments?

First Advantage Corp (FA) has an interest coverage ratio of -1.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.

How financially healthy is First Advantage Corp?

First Advantage Corp (FA) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.