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AI brief of an SEC Form 8-K · First Advantage (FA)

First Advantage Q1 revenue falls 3.5% to $169.4 million; net loss of $2.9 million

Mixed Impact 3 of 5 earnings Written later

First Advantage reported first quarter 2024 revenue of $169.4 million, down 3.5% from a year earlier, and a GAAP net loss of $2.9 million, compared with net income of $1.9 million in the same quarter of 2023. The results include $11.1 million of costs related to the pending Sterling acquisition, and adjusted diluted EPS fell to $0.17 from $0.19. The company reaffirmed its full-year 2024 guidance for standalone First Advantage, which excludes Sterling.

Key points

  • Revenues were $169.4 million, down 3.5% from $175.5 million in Q1 2023.
  • GAAP net loss was $2.9 million, or $(0.02) per diluted share, including $11.1 million of Sterling acquisition costs.
  • Adjusted diluted EPS was $0.17, down from $0.19; adjusted EBITDA was $46.6 million, down 4.1%.
  • Full-year 2024 guidance reaffirmed: revenues of $750 million to $800 million and adjusted diluted EPS of $0.88 to $0.98.

The filing

CompanyFirst Advantage (FA)
Form8-K, current report
Filed with the SECMay 9, 2024, 6:04 AM ET
Accession number0000950170-24-056174

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 09, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.