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Jun 30, 2023
First Advantage Q2 2023 Earnings Report
Reported revenues of $185.3 million and net income of $9.8 million.
Key Takeaways
First Advantage reported second quarter results with revenues of $185.3 million and net income of $9.8 million. The company reaffirmed its full-year 2023 guidance, but expects results at the lower end of the guidance ranges due to macroeconomic headwinds.
Generated Revenues of $185.3 million; Constant Currency Revenues were $186.4 million
Delivered Net Income of $9.8 million; Adjusted Net Income was $34.8 million
Produced Adjusted EBITDA of $56.0 million; Constant Currency Adjusted EBITDA was $56.1 million
Realized GAAP diluted net income per share of $0.07; Adjusted Diluted Earnings Per Share was $0.24
First Advantage
First Advantage
Forward Guidance
The Company is reaffirming its previous full-year 2023 guidance ranges, expecting results at the lower end of the guidance ranges. This reflects the current hiring environment and expectations that existing macroeconomic conditions and similar labor market trends will continue through the remainder of 2023 without significant changes.