---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-020000"
form_type: "8-K"
ticker: "FA"
cik: "0001210677"
company_name: "FIRST ADVANTAGE CORP"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T05:54:53.279975+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-020000
- form_type: 8-K
- ticker: FA
- cik: 0001210677
- company_name: FIRST ADVANTAGE CORP
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1210677/000095017023020000/0000950170-23-020000-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1210677/000095017023020000/fa-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-020000
- JSON: https://secwatch.observer/filing/0000950170-23-020000.json
- Plain text: https://secwatch.observer/filing/0000950170-23-020000.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1210677/000095017023020000/0000950170-23-020000-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.