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Jun 30, 2022
First Advantage Q2 2022 Earnings Report
First Advantage reported strong financial results, product innovation, and strategic acquisitions.
Key Takeaways
First Advantage reported a revenue increase of 15.3% and an Adjusted EBITDA growth of 8.0% compared to the prior-year period. The company also announced a share repurchase program with authorization to purchase up to $50 million of its common stock.
Revenues were $201.6 million, an increase of 15.3% compared to the prior-year period.
Net income was $14.2 million, an increase of 277.6% compared to the prior-year period.
Adjusted EBITDA was $60.8 million, an increase of 8.0% compared to the prior-year period.
Cash flows from operations were $54.8 million, an increase of 69.3% compared to the prior-year period.
Forward Guidance
First Advantage is raising the low ends of its full year 2022 guidance ranges, resulting in revised full year 2022 guidance ranges for revenues of $823 to $835 million, Adjusted EBITDA of $254 to $259 million, and Adjusted Net Income of $158 to $161 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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