Welcome to our dedicated page for Sterling Check news (Ticker: STER), a resource for investors and traders seeking the latest updates and insights on Sterling Check stock.
Sterling Check Corp. (NASDAQ: STER) is a global provider of technology-enabled background screening and identity services. News about Sterling often focuses on its financial performance, acquisitions, geographic expansion, and partnerships that affect how employers use background and identity verification in their hiring and workforce programs.
Recent company news has included quarterly and annual financial results, where Sterling discusses revenue trends, organic and inorganic growth, base business performance, and non-GAAP measures such as Adjusted EBITDA, Adjusted Net Income, and Free Cash Flow. These updates provide insight into how the company’s background and identity services business is performing and how acquisitions contribute to its results.
Sterling’s news flow also covers strategic transactions and corporate developments. The company has announced a definitive agreement to combine with First Advantage Corporation, a proposed merger that is subject to various conditions and approvals. In addition, Sterling has reported acquisitions such as Vault Workforce Screening, which expands its drug and health testing capabilities, and has discussed the integration of earlier acquisitions like Socrates and A-Check Global.
Operational and regional updates are another key theme. Sterling has highlighted brand alignment and technology enhancements in the Asia Pacific region, including the rebranding of Sterling RISQ to Sterling and the strengthening of global screening capabilities with local expertise. The company has also announced partnerships, such as being selected as the preferred background screening partner for Fountain, integrating Sterling’s screening and identity verification services with a hiring platform used in high-volume industries.
Investors and other readers who follow STER news can use this page to review earnings releases, acquisition announcements, regional expansion updates, board and governance changes, and partnership news that shape Sterling’s position in the background and identity services market.
Sterling Check Corp. (NASDAQ: STER) reported a robust 37.7% revenue increase in Q1 2022, reaching $192.0 million, driven by 30.4% organic growth. GAAP net income surged to $6.2 million ($0.06/share), up from $0.6 million ($0.01/share) last year. Adjusted EBITDA rose by 29.4% to $47.6 million, although margins decreased by 159 bps to 24.8%. The company updated its 2022 financial guidance, projecting revenue between $770 million and $780 million. CEO Josh Peirez expressed optimism about continual growth and client retention through innovative solutions.
Sterling Check Corp. (NASDAQ: STER) announced it will release its financial results for Q1 FY 2022 on May 10, 2022, before the market opens. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results.
Participants can join the call by dialing specific numbers and using the conference code 352288. A live audio webcast will also be available on Sterling’s investor relations website.
Sterling provides technology-enabled background and identity verification services, performing over 95 million background checks annually for over 50,000 clients.
Sterling Check Corp. (NASDAQ: STER) announced strong financial results for Q4 and full year 2021. Q4 revenue surged by 35.1% to $173.6 million, with organic constant currency growth of 32.3%. The company reported a GAAP net income of $2.7 million, contrasting with a loss last year. For the full year, revenues increased 41.4% to $641.9 million, with an adjusted net income jump of 245.9% to $92.2 million. The company expects revenues between $740 million and $755 million for 2022, indicating continued growth.
Sterling Check Corp. (NASDAQ: STER) announced its financial results for the fourth quarter of fiscal year 2021 will be released on March 2, 2022, prior to market opening. A conference call to discuss the results will occur at 8:30 a.m. Eastern Time on the same day. Participants can join via phone or through a live audio webcast on Sterling's investor relations website. The company provides tech-enabled background and identity verification services, conducting over 89 million checks annually for more than 47,000 clients worldwide.
Sterling, a global leader in background screening and identity services, announced the acquisition of Employment Background Investigations, Inc. (EBI) to enhance its foothold in key US markets such as financial services and healthcare. Established in 1994, EBI specializes in background checks, drug testing, and compliance solutions, serving prominent clients across various sectors. The all-cash deal is projected to generate over $30 million in revenue for Sterling in 2022 and is expected to significantly boost adjusted earnings, providing synergies and improved service offerings.
Sterling Check Corp. (NASDAQ: STER) announced a new I-9 integration with iCIMS, enhancing their background and identity services. This integration streamlines compliance with USCIS requirements, minimizing manual processing and improving onboarding speed. The Sterling I-9 solution allows seamless ordering of background checks and employment eligibility verification directly from the iCIMS platform. Key features include electronic Form I-9, remote hire assistance, and real-time progress updates for recruiters.
ID.me has launched an in-person identity verification service in partnership with Sterling Check Corp. (STER), aimed at enhancing access for individuals without mobile devices or internet. The service was first adopted by the New Jersey Department of Labor, enabling residents to verify their identities for unemployment benefits. This expansion follows a significant rise in identity theft related to government benefits, increasing by 2,920%. The collaboration seeks to provide secure and easy identity verification across over 650 retail locations in the U.S.
Sterling Check Corp. (NASDAQ: STER) reports a significant revenue growth of 44.2% in Q3 2021, reaching $169.6 million. Organic constant currency revenue growth was 43.2%. Despite this, the company faced a GAAP net loss of $25.3 million per share, attributed to IPO-related costs. Adjusted EBITDA rose 68.7% to $51.3 million, with adjusted net income increasing 187.5% to $31.6 million. The company has set a 2021 revenue guidance of $617 to $622 million and adjusted EBITDA of $171 to $175 million.
Sterling Check Corp. (NASDAQ: STER) has been selected by the Financial Industry Regulatory Authority (FINRA) as its designated provider for fingerprint processing services. This new role will involve submitting fingerprints to the Department of Justice (FBI) on behalf of broker-dealer firms and funding portals starting December 6, 2021. With advanced fingerprint processing technology, Sterling aims to enhance efficiency and reduce costs for its clients in the financial services sector.
On October 28, 2021, Sterling Check Corp. (NASDAQ: STER) announced that CEO Josh Peirez and CFO Peter Walker will engage in a fireside chat at the J.P. Morgan Ultimate Services Investor Conference on November 18, 2021, at 9:35 AM ET. The company will also hold virtual investor meetings throughout the day. The chat will be accessible via a live webcast on Sterling's Investor Relations website. Sterling provides background and identity verification services, conducting over 75 million checks annually for more than 40,000 clients worldwide.