First Advantage Corp Stock Price, News & Analysis

First Advantage Corporation (FA) reported a robust fourth quarter 2021 with revenues of $212.5 million, representing a 35.8% year-over-year increase. The net income surged to $15.4 million, recovering from a loss in the previous year. For the full year, revenue reached $712.3 million, contrasted with losses in prior periods. The company provided optimistic 2022 guidance, expecting revenues between $813 million and $828 million, alongside strong projected Adjusted EBITDA and net income figures. Cash flow from operations was solid, totaling $64.8 million.

First Advantage (NASDAQ: FA) has formed a strategic partnership with Yoti to integrate digital identity services into its technology platform. This move aligns with the upcoming changes to the UK Right to Work and UK DBS Checks set for April 2022. The integration aims to simplify and enhance the identity verification process for employers, reducing recruitment risks and increasing safety. The collaboration is expected to offer innovative solutions that streamline ID verification, catering to employers' needs during regulatory shifts.

First Advantage Corporation (NASDAQ: FA) will release its fourth quarter and full year 2021 financial results on March 23, 2022. The earnings conference call is scheduled for 8:30 a.m. ET, accessible through a dial-in or live webcast on the company’s investor relations site. As a global leader in screening and compliance technology solutions, First Advantage serves over 30,000 clients in more than 200 countries. This upcoming report will provide critical insight into the company’s performance and future outlook.

First Advantage Corporation (NASDAQ: FA) announced its upcoming Collaborate 2022 user conference in Las Vegas, scheduled for April 20-22, featuring keynote speaker Daymond John. Known for his role on Shark Tank and as the founder of FUBU, John will share his insights on marketing and branding. The event will focus on background screening and drug testing trends, providing valuable strategies for leaders navigating today's dynamic work environment. This invitation-only event will take place at the Aria, demonstrating First Advantage's commitment to innovation in human capital solutions.

First Advantage Corporation (NASDAQ: FA) has acquired the Form I-9 Compliance business effective January 1, 2022. This acquisition enhances First Advantage’s offerings, introducing products such as electronic Form I-9, E-Verify, remote verifications, and continuous compliance monitoring. CEO Scott Staples expressed enthusiasm for the acquisition, highlighting its strategic importance in delivering essential compliance solutions to customers. The integration aims to streamline onboarding processes and improve compliance management for clients.

First Advantage Corporation (NASDAQ: FA) has been recognized with two prestigious awards from Comparably: Best Company for Women and Best Company for Diversity. This acknowledgment is based on over 15 million employee ratings from 70,000 companies. The awards reflect First Advantage's commitment to an inclusive workplace culture. Executive VP of Human Resources, Michael Pilnick, highlighted initiatives like leadership programs and employee resource groups that support diversity. CEO Scott Staples emphasized the significance of these awards in demonstrating the company’s positive workplace environment.

First Advantage Corporation (NASDAQ: FA) has successfully completed the acquisitions of Corporate Screening Services, Inc. and MultiLatin Advisors, S.A. de C.V. This strategic move enhances First Advantage's expertise in healthcare and higher education screening and expands its international footprint in the compliance solutions market. CEO Scott Staples expressed optimism about these acquisitions, highlighting their alignment with capital allocation priorities and the potential for accelerated product innovation and market growth.

First Advantage Corporation (NASDAQ: FA) announced a secondary offering of 15,000,000 shares at $20.00 per share, conducted by certain stockholders, including Silver Lake Group affiliates. A 30-day underwriter option for an additional 2,250,000 shares is included. The offering, set to close on November 15, 2021, will not involve any shares from First Advantage, meaning proceeds will go entirely to the selling stockholders. Barclays and BofA Securities lead the offering, which is registered with the SEC.

First Advantage (NASDAQ: FA) announced a secondary offering of 15,000,000 shares from certain stockholders, including affiliates of Silver Lake Group. The underwriters, Barclays and BofA Securities, hold a 30-day option to buy an additional 2,250,000 shares. This offering will not involve any stock sold by First Advantage. Proceeds will go directly to the selling stockholders. A preliminary registration statement has been filed with the SEC, but it is not yet effective. The offering is subject to typical regulatory conditions.