Sterling Q1 revenue up 3.8% to $186M but net loss of $8M; adjusted EBITDA down 15.5%

Sterling Check Corp.

2024-Q1 EPS reported -$0.09 revenue$185,999,000

Revenue $186.0M, +3.8% YoY; organic constant currency revenue declined 4.9%.
GAAP net loss $8.0M ($0.09 diluted loss) vs prior year net income $0.6M.
Adjusted EBITDA $38.5M, -15.5% YoY; margin 20.7%, down 470 bps.
Adjusted EPS $0.19 diluted, -20.8% YoY, due to mix shift toward lower-margin revenues.
Acquired Vault for ~$76M in Jan; pending merger with First Advantage announced Feb 28.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sterling Check Corp. reported for the first quarter ended March 31, 2024 results: revenue $186.0 million, net income $(7,955), EPS $(0.09) per diluted share.

Period: for the first quarter ended March 31, 2024
Revenue: $186.0 million
Net income: $(7,955)
EPS: $(0.09) per diluted share
Result: reported results

Exact text from the filing

results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights All results compared to prior-year period. • Revenues increased 3.8% year-over-year to $186.0 million. Organic constant currency revenue decreased 4.9% and inorganic revenue growth was 8.7%. Organic revenue growth included growth of 11% year-over-year from the combination of new

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Source: SEC EDGAR

accession 0001645070-24-000073

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