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Sep 30, 2021
First Advantage Q3 2021 Earnings Report
Reported a strong third quarter with significant revenue growth and improved profitability.
Key Takeaways
First Advantage reported strong Q3 2021 results, with revenues up 41.0% to $192.9 million and net income of $16.3 million, compared to a net loss in the prior year. The company also announced two acquisitions and raised its full-year 2021 guidance.
Revenues increased by 41.0% to $192.9 million compared to the prior year period.
Net income was $16.3 million, a significant improvement from the net loss of $3.5 million in the prior year period.
Adjusted EBITDA increased by 47.7% to $63.9 million compared to the prior year period.
The company raised full-year 2021 guidance for revenues, Adjusted EBITDA, and Adjusted Net Income.
First Advantage
First Advantage
Forward Guidance
First Advantage raised its full year 2021 guidance ranges for revenues to $680 to $686 million, Adjusted EBITDA to $208 to $211 million, and Adjusted Net Income to $125 to $128 million.