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First Advantage Corporation provides employment background screening, digital identity, and verification solutions internationally. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products. The company also provides post-onboarding solutions, including criminal records monitoring, I-9 verification, healthcare sanctions, motor vehicle records, social media screening, and global sanctions and licenses; and adjacent products comprising fleet/vehicle compliance, hiring tax credits and incentives, and investigative research. Its products and solutions are used by executive management, human resources, talent acquisition, risk, compliance, vendor management, safety, global enterprises, mid-sized, and small companies. The company was formerly known as Fastball Intermediate, Inc. and changed its name to First Advantage Corporation in March 2021. First Advantage Corporation was founded in 2002 and is based in Atlanta, Georgia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.6B | $380M | $-35M | $141M | -2.7% | 83.0% | - |
| 2024 | $860M | $83M | $-110M | $-4M | -8.4% | 12.6% | -395.7% |
| 2023 | $764M | $211M | $37M | $135M | 4.1% | -5.7% | -42.3% |
| 2022 | $810M | $233M | $65M | $184M | 5.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 810.02 | 763.76 | 860.21 | 1,574.39 |
| Cost Of Revenue | 408.93 | 386.78 | 448.91 | 855.31 |
| Gross Profit | 401.10 | 376.98 | 411.29 | 719.08 |
| Operating Expense | 306.82 | 295.47 | 473.68 | 586.62 |
| Operating Income | 94.28 | 81.52 | -62.38 | 132.47 |
| EBITDA | 232.52 | 210.99 | 83.15 | 380 |
| EBIT | 94.28 | 81.52 | -62.77 | 131.42 |
| Pretax Income | 85.08 | 48.48 | -114.61 | -37.25 |
| Tax Provision | 20.48 | 11.18 | -4.34 | -2.43 |
| Net Income | 64.60 | 37.29 | -110.27 | -34.82 |
| Net Income Common Stockholders | 64.60 | 37.29 | -110.27 | -34.82 |
| Total Expenses | 715.75 | 682.25 | 922.59 | 1,441.92 |
| Interest Expense | 9.20 | 33.04 | 51.85 | 168.67 |
| Interest Income | 0 | 0 | 0 | 0 |
| Research And Development | 51.93 | 49.26 | 63.82 | 101.85 |
| Selling General And Administration | 116.64 | 116.73 | 263.94 | 236.18 |
| Normalized EBITDA | 232.52 | 210.99 | 83.53 | 381.05 |
| Normalized Income | 64.60 | 37.29 | -109.90 | -33.84 |
| Basic EPS | 0.43 | 0.26 | -0.74 | -0.20 |
| Diluted EPS | 0.43 | 0.26 | -0.74 | -0.20 |
| Tax Effect Of Unusual Items | 0 | 0 | -0.01 | -0.07 |
| Tax Rate For Calcs | 0.24 | 0.23 | 0.04 | 0.07 |
| Total Unusual Items | 0 | 0 | -0.38 | -1.05 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -0.38 | -1.05 |
| Net Income From Continuing Operation Net Minority Interest | 64.60 | 37.29 | -110.27 | -34.82 |
| Reconciled Depreciation | 138.25 | 129.47 | 145.92 | 248.58 |
| Reconciled Cost Of Revenue | 408.93 | 386.78 | 448.91 | 855.31 |
| Net Interest Income | -9.20 | -33.04 | -51.85 | -168.67 |
| Net Income From Continuing And Discontinued Operation | 64.60 | 37.29 | -110.27 | -34.82 |
| Total Operating Income As Reported | 94.28 | 81.52 | -62.38 | 132.47 |
| Diluted Average Shares | 151.81 | 146.23 | 148.58 | 173.20 |
| Basic Average Shares | 150.23 | 144.08 | 148.58 | 173.20 |
| Diluted NI Availto Com Stockholders | 64.60 | 37.29 | -110.27 | -34.82 |
| Net Income Including Noncontrolling Interests | 64.60 | 37.29 | -110.27 | -34.82 |
| Net Income Continuous Operations | 64.60 | 37.29 | -110.27 | -34.82 |
| Other Income Expense | 0 | 0 | -0.38 | -1.05 |
| Special Income Charges | 0 | 0 | -0.38 | -1.05 |
| Other Special Charges | 0 | 0 | 0.38 | 1.05 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -9.20 | -33.04 | -51.85 | -168.67 |
| Interest Expense Non Operating | 9.20 | 33.04 | 51.85 | 168.67 |
| Interest Income Non Operating | 0 | 0 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 138.25 | 129.47 | 145.92 | 248.58 |
| Depreciation And Amortization In Income Statement | 138.25 | 129.47 | 145.92 | 248.58 |
| Operating Revenue | 810.02 | 763.76 | 860.21 | 1,574.39 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| First Advantage Corporationthis co. | FA | $2.2B | - | 1.73 | -2.7% | 10.84 |
| Astronics Corporation | ATRO | $2.4B | 82.70 | 17.06 | 21.0% | 23.80 |
| Xometry, Inc. | XMTR | $2.3B | - | 8.43 | -22.3% | -96.98 |
| American Superconductor Corporation | AMSC | $2.3B | 15.69 | 4.23 | 3.1% | 95.34 |
| Helios Technologies, Inc. | HLIO | $2.2B |
| 46.10 |
| 2.38 |
| 5.2% |
| 16.37 |
| Eos Energy Enterprises, Inc. | EOSE | $2.2B | - | -0.95 | 43.3% | -15.54 |
| Huron Consulting Group Inc. | HURN | $2.1B | 22.00 | 4.01 | 19.9% | 11.58 |
| Blue Bird Corporation | BLBD | $2.1B | 15.52 | 7.17 | 50.0% | 9.57 |
| Custom Truck One Source, Inc. | CTOS | $2.1B | - | 2.57 | -3.8% | 21.79 |
| Peer Median | - | 22.00 | 4.12 | 12.5% | 13.97 | |