First Advantage Q1 revenue $175.5M (-7.6% YoY), EPS $0.01; reaffirms FY guidance

FIRST ADVANTAGE CORP

2023-Q1 EPS reported $0.01 revenue$175,520,000

Q1 revenue $175.5M (-7.6% YoY); net income $1.9M (-85.2%); diluted EPS $0.01.
Adjusted EBITDA $48.6M (-9.4%); adjusted diluted EPS $0.19 (-13.6%).
Reaffirmed FY 2023 guidance: revenue $770-810M, adjusted EBITDA $240-255M.
Generated $38.6M operating cash flow; repurchased 1.9M shares for $25.3M.
30 new enterprise logos won; customer retention rate 97% over last 12 months.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST ADVANTAGE CORP reported the first quarter ended March 31, 2023 results: revenue $175.5 million, net income $1.9 million, EPS $0.01. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $175.5 million
Net income: $1.9 million
EPS: $0.01
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Advantage Reports First Quarter 2023 Results Reaffirming 2023 Full-Year Guidance First Quarter 2023 Highlights • Generated Revenues of $175.5 million; Constant Currency Revenues 1 were $177.7 million • Delivered Net Income of $1.9 million; Adjusted Net Income 1 was $28.4 million • Produced Adjusted EBITDA 1 of $48.6 million; Constant Currency Adjusted EBITDA 1 was $49.1 million • Realized GAAP diluted net income per share of $0.01; Adjusted Diluted EPS 1 was $0.19 • Achieved Cash Flows from Operations of $38.6 million

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Source: SEC EDGAR

accession 0000950170-23-020000

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