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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.
First Advantage
First Advantage
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.