FIRST ADVANTAGE (FA) Company Report

First Advantage reported a strong Q4 2025, with $420 million in pro forma revenue, a 12% increase year-over-year, and adjusted diluted EPS of $0.30, marking a 67% year-over-year increase. Full-year 2025 revenues grew to $1.57 billion with $441 million in adjusted EBITDA.
The company introduced full-year 2026 guidance, projecting total revenues between $1.625 billion and $1.7 billion, adjusted EBITDA between $460 million and $485 million, and adjusted diluted EPS between $1.15 and $1.25 per share. This represents approximately 6% year-over-year revenue growth and 15% adjusted diluted EPS growth at the midpoint.
First Advantage announced two strategic capital allocation actions: a voluntary prepayment of $25 million of debt in February, bringing total debt repayment since closing to $95.5 million, and a new $100 million share repurchase authorization.
The company completed core integration activities for the Sterling acquisition and is accelerating its FA 5.0 growth strategy, focusing on innovation, digital identity, and international expansion.

7 days ago

Transcript

First Advantage Reports Strong Q4 and Full-Year 2025 Results, Announces Capital Allocation, and Provides 2026 Guidance

Earnings

Guidance Update

Share Buyback

First Advantage reported its "best quarter ever" in Q4 2025, with pro forma revenue up 12% to $420 million and adjusted diluted EPS growing 67% year-over-year to $0.30, capping off an impressive 2025 where full year revenues grew from $1.57 billion and core integration activities for the Sterling acquisition were completed, realizing $38 million in incremental synergies for the year.
The company announced two strategic capital allocation actions: a voluntary prepayment of $25 million of debt in February 2026, bringing total debt repayment since the Sterling acquisition closing to $95.5 million, and a new $100 million share repurchase authorization.
For full year 2026, First Advantage introduced guidance expecting total revenues between $1.625 billion-$1.7 billion, Adjusted EBITDA of $460 million-$485 million, and adjusted diluted EPS of $1.15-$1.25 per share.
First Advantage is accelerating its FA 5.0 growth strategy, focusing on innovation, digital identity, co-selling relationships, new product releases, and international expansion, with additional resources allocated in 2026 to drive incremental organic revenue growth.

7 days ago

Transcript

First Advantage Announces Strong Q4 and Full Year 2025 Results and Provides 2026 Guidance

Earnings

Guidance Update

Share Buyback

First Advantage reported strong Q4 2025 results, with revenue of $420M, an 11.9% YoY growth, Adjusted EBITDA of $117M, a 16.8% YoY growth, and Adjusted Diluted EPS of $0.30, a 66.7% YoY growth.
For the full year 2025, the company achieved revenues of $1,574.4M, a 4.3% YoY growth, Adjusted EBITDA of $441.4M, an 11.3% YoY growth, and Adjusted Diluted EPS of $1.04, a 26.8% YoY growth.
The company completed core Sterling integration activities, actioning $55M in run rate acquisition synergies as of December 31, 2025.
First Advantage announced a new $100M share repurchase program and a $25M voluntary debt prepayment in February 2026, contributing to $95.5M in cumulative debt repayments since the Sterling acquisition close.
For full year 2026, the company introduced guidance projecting Total Revenues between $1,625M and $1,700M, Adjusted EBITDA between $460M and $485M, and Adjusted Diluted Earnings Per Share between $1.15 and $1.25.

7 days ago

Presentation

First Advantage Announces Strong Q4 and Full Year 2025 Results, Issues 2026 Guidance, and Authorizes Share Repurchase

Earnings

Guidance Update

Share Buyback

First Advantage reported a strong Q4 2025 with revenues up 12% pro forma year-over-year to $420 million, adjusted EBITDA up 17% pro forma to $117 million, and adjusted diluted EPS increasing 67% to $0.30. For the full year 2025, revenues reached $1.57 billion with $441 million of adjusted EBITDA.
The company provided full-year 2026 guidance, projecting total revenues between $1.625 billion and $1.7 billion, adjusted EBITDA between $460 million and $485 million, and adjusted diluted EPS between $1.15 and $1.25 per share.
Strategic capital allocation actions include a voluntary prepayment of $25 million of debt in February 2026, contributing to $95.5 million in total debt repayment since the Sterling acquisition, and a new $100 million share repurchase authorization.
First Advantage completed core integration activities for the Sterling acquisition, actioning $55 million in run rate synergies, with $38 million incrementally realized in 2025. Customer retention remained high at 96%-97%.

7 days ago

Transcript

First Advantage Reports Q4 and Full Year 2025 Results, Issues 2026 Guidance, and Announces Share Repurchase Program

Earnings

Guidance Update

Share Buyback

First Advantage reported Q4 2025 revenues of $420.0 million and full year 2025 revenues of $1,574.4 million. The company achieved a net income of $3.5 million ($0.02 diluted EPS) in Q4 2025, but a net loss of $(34.8) million ($(0.20) diluted EPS) for the full year 2025.
For full year 2026, First Advantage introduced guidance projecting revenues ranging from $1,625 million to $1,700 million and Adjusted Diluted Earnings Per Share between $1.15 and $1.25.
The Board of Directors approved a new share repurchase program with authorization to purchase up to $100 million of its common stock.

7 days ago

8-K

First Advantage Reports Improving Hiring Trends and Strong Q4 2025 Outlook

Guidance Update

Revenue Acceleration/Inflection

M&A

First Advantage (FA) observed stabilizing hiring markets for enterprise customers, with base growth improving from -5.5% in Q1 to -1.8% in Q3 2025, and anticipates 6% organic growth in Q4 2025, an increase from 4% in Q3.
The integration of the Sterling acquisition has led to 97% customer retention and $52 million in synergies achieved through Q3 2025, progressing towards a target of $65 million-$80 million.
FA is driving growth through product differentiation, including digital identity solutions to combat AI-enabled fakes and increased package density, which are opening new customer opportunities.
The company is making progress towards its 2028 midterm targets of upper single-digit growth, 31%-33% EBITDA margin, and a 2-3x net leverage target, having already repaid $71 million in debt.

Nov 19, 2025, 4:20 PM

Transcript

First Advantage Reports Stable Enterprise Hiring, Strong Q4 Organic Growth Outlook, and Synergy Progress

Guidance Update

M&A

Hiring

First Advantage (FA) observes stability in enterprise hiring markets, with October and early November results exceeding their model, and base growth improving sequentially to negative 1.8% in Q3.
The company anticipates 6% organic growth for Q4, an increase from 4% in Q3, driven by a 97% customer retention rate and the revenue contribution from three significant deals signed in Q1.
Strategic initiatives include leveraging the Sterling acquisition for diversification and synergy realization, with $52 million in cost synergies achieved through Q3 towards a target of $65-$80 million.
Product differentiation, particularly digital identity solutions and increased package density, is driving new business, while proprietary databases like the National Criminal Record File (over 700 million records) provide a competitive edge.
FA's international business grew 11% in Q3, marking its sixth consecutive quarter of growth, and the company has paid down $71 million in debt with $71 million in operating cash flow for Q3.

Nov 19, 2025, 4:20 PM

Transcript

First Advantage Updates on Sterling Integration and Leverage Reduction Targets

M&A

Revenue Acceleration/Inflection

New Projects/Investments

First Advantage has successfully integrated the Sterling acquisition, achieving 97% gross revenue retention in Q3, an increase from 96% previously, by prioritizing customer experience.
The company is actively working to reduce its net leverage from 4.2 times to a target of 3X by year-end 2026, supported by strong cash flow generation, which was $72 million (GAAP operating cash flow) in Q3.
Revenue growth is accelerating, with 4% growth in Q3, as negative base volume trends improve from -5.5% in Q1 to -1.8% in Q3.
New growth drivers include significant enterprise contract wins, such as 17 in Q3, and the emerging digital identity solution, which is seen as a key differentiator and a "hook" for broader screening services.

Nov 18, 2025, 2:00 PM

Transcript

First Advantage Discusses Sterling Integration Success and Future Growth

M&A

Revenue Acceleration/Inflection

New Projects/Investments

First Advantage has successfully integrated the Sterling acquisition, achieving 97% gross revenue retention in Q3 and realizing synergies by optimizing back-end fulfillment without modifying the front-end customer experience.
The company is focused on reducing its net leverage from 4.2x to approximately 3x by year-end 2026 through scaling the business, achieving synergies, and generating strong cash flow, with $72 million of GAAP operating cash flow in Q3.
First Advantage is experiencing accelerated revenue growth, with almost 4% growth in Q3, driven by a strong pipeline of new logo wins, upsell, and cross-sell opportunities, including three significant deals expected to ramp up in Q4.
Digital identity is highlighted as a new growth frontier, opening opportunities for broader screening programs and differentiating First Advantage in the market due to increasing concerns about fraud and AI-driven risks in hiring.

Nov 18, 2025, 2:00 PM

Transcript

First Advantage Discusses Sterling Integration Success and Path to Deleveraging

M&A

Revenue Acceleration/Inflection

New Projects/Investments

First Advantage has successfully integrated the Sterling acquisition, maintaining a customer-first focus and improving gross revenue retention from 96% to 97% in Q3.
The company aims to reduce its net leverage from 4.2 times to approximately 3X by the end of 2026, driven by scaling the business, achieving synergies, and strong cash flow generation.
Revenue growth is accelerating, with Q3 showing almost 4% growth, and further acceleration is expected in Q4 due to significant new customer wins.
First Advantage is leveraging digital identity solutions to address fraud and AI risks in hiring, which also serves as a "hook" to expand overall screening services for new clients.
While AI impacts administrative functions and certain sectors like BPO, it is not significantly affecting core hiring in First Advantage's primary verticals, and the company views a one-to-one ratio of unemployed persons to job openings as a stable labor market equilibrium.

Nov 18, 2025, 2:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for FIRST ADVANTAGE.

Q4 2025

Feb 26, 2026

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Q3 2025

Nov 6, 2025

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Q2 2025

Aug 7, 2025

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View All Transcripts

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FIRST ADVANTAGE (FA)

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