Watch on earnings:Total screens processed and average revenue per screen (ARPS)Adjusted EBITDA margin and path to positive operating cash flowClient retention rate and net revenue retention for enterprise accountsSales and marketing efficiency (CAC payback period) and new client acquisition trends
Key metrics:Nonfarm payrolls (PAYEMS) as leading indicator of hiring activity and screen volume demand · Unemployment rate trends indicating labor market tightness and employer screening intensity · High yield credit spreads (BAMLH0A0HYM2) affecting both client financial health and First Advantage's refinancing costs · Federal funds rate trajectory impacting borrowing costs on company's debt and overall business investment in hiring
⚠ Elevated leverage (Debt/Equity 1.63) combined with negative profitability (ROE -10.7%, ROA -16.8%) creates refinancing risk if EBITDA does not improve before debt maturities
Metric
Dec 21
Dec 22
Dec 23
Dec 24
Dec 25
Cash & Equivalents
293
392↑33.8%
214↓45.4%
169↓21.1%
240↑42.3%
Total Current Assets
466
566↑21.5%
374↓34.0%
476↑27.4%
562↑18.0%
Total Assets
1,887
1,886↓0.0%
1,631↓13.5%
3,923↑140.6%
3,834↓2.3%
Total Current Liabilities
109
101↓7.8%
85↓15.6%
251↑194.8%
230↓8.1%
Total Liabilities
754
759↑0.6%
724↓4.6%
2,616↑261.3%
2,520↓3.7%
Total Equity
1,132
1,127↓0.5%
907↓19.5%
1,307↑44.1%
1,314↑0.5%
Total Debt
555
569↑2.6%
568↓0.3%
2,157↑279.8%
9↓99.6%
Net Debt
262
178↓32.2%
354↑99.0%
1,988↑461.6%
-231↓111.6%
Cash Flow Statement
Metric
Dec 21
Dec 22
Dec 23
Dec 24
Dec 25
Operating Cash Flow
149
213↑43.1%
163↓23.5%
28↓82.7%
195↑592.0%
Capital Expenditure
-24
-29↓19.9%
-28↑2.9%
-2↑93.8%
-54↓3054.2%
Free Cash Flow
125
184↑47.5%
135↓26.7%
26↓80.4%
141↑432.1%
Stock-Based Comp
10
8↓17.6%
15↑94.3%
32↑108.1%
0
Net Change in Cash
140
99↓29.2%
-178↓279.7%
-44↑75.0%
71↑258.9%
Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down