Every material Form 8-K First Advantage filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
First Advantage reported third quarter 2025 revenue of $409.2 million, up from $199.1 million a year earlier, and net income of $2.6 million versus a net loss of $8.9 million. The company narrowed its full year 2025 guidance, with refined midpoints at or above its original guidance midpoints for Adjusted EBITDA and Adjusted Diluted EPS. The year-over-year comparison includes the Sterling Check Corp. acquisition, which the company closed on October 31, 2024.
Q3 2025 revenue of $409.2 million versus $199.1 million in Q3 2024; Adjusted EBITDA of $118.5 million versus $64.0 million
GAAP diluted EPS of $0.01 versus a loss of $0.06 per share; Adjusted Diluted EPS of $0.30 versus $0.26
Full year 2025 Adjusted EBITDA guidance narrowed to $430 million to $440 million from $410 million to $450 million
Voluntary principal repayment of $25 million after quarter end, bringing 2025 principal repayments to $70.5 million
First Advantage reported second-quarter 2025 revenue of $390.6 million, up from $184.5 million a year earlier, and adjusted diluted EPS of $0.27 versus $0.21. GAAP net income fell to $0.3 million from $1.9 million, which the company tied to $7.3 million of Sterling acquisition and integration expenses and $41.3 million of Sterling depreciation and amortization. The company reaffirmed its full-year 2025 guidance, so management's outlook for revenue, Adjusted EBITDA and Adjusted EPS is unchanged.
Q2 2025 revenues were $390.6 million, compared with $184.5 million in Q2 2024.
GAAP net income was $0.3 million ($0.00 per diluted share), down from $1.9 million ($0.01), and includes $7.3 million of Sterling-related expenses.
Adjusted diluted EPS was $0.27 versus $0.21; Adjusted EBITDA was $113.9 million versus $55.8 million.
Full-year 2025 guidance reaffirmed as of August 7, 2025: revenues $1.5 billion to $1.6 billion, Adjusted EBITDA $410 million to $450 million, Adjusted diluted EPS $0.86 to $1.03.
On July 30, 2025, a First Advantage subsidiary signed Amendment No. 5 to its first lien credit agreement with Bank of America, N.A. as administrative agent. The amendment lowers the interest rate margin on the term loan due October 31, 2031 and on the $250.0 million revolving credit facility due October 31, 2029, each by 0.50%, which reduces the company's borrowing costs under those facilities.
Term loan due October 31, 2031: rate cut 0.50% to 2.50%-2.75% plus SOFR, based on the first lien ratio
$250.0 million revolving credit facility due October 31, 2029: rate cut 0.50% to 2.25%-2.75% plus SOFR
Amendment dated July 30, 2025, filed as Exhibit 10.1 and disclosed under Items 1.01 and 2.03
First Advantage reported first-quarter 2025 revenue of $354.6 million, up from $169.4 million a year earlier, but its net loss widened to $41.2 million from $2.9 million. The company said the increase reflects its acquisition of Sterling Check Corp., and it reaffirmed full-year 2025 guidance, including revenue of $1.5 billion to $1.6 billion and adjusted diluted EPS of $0.86 to $1.03.
Q1 2025 revenue was $354.6 million versus $169.4 million in Q1 2024; GAAP diluted net loss per share was $(0.24) versus $(0.02).
Adjusted Diluted EPS was $0.17 in both periods; Adjusted EBITDA rose to $92.1 million from $46.6 million.
Full-year 2025 guidance was reaffirmed as of May 8, 2025, including Adjusted EBITDA of $410 million to $450 million.
Inaugural investor day is scheduled for May 28, 2025, in New York City.
First Advantage reported fourth quarter and full year 2024 results, which include costs from its Sterling acquisition, closed October 31, 2024. Full year revenue rose to $860.2 million from $763.8 million, but the company posted a net loss of $110.3 million versus net income of $37.3 million a year earlier, and adjusted diluted EPS fell to $0.82 from $1.00. The company also introduced 2025 guidance of $1.5 billion to $1.6 billion in revenue and $410 million to $450 million in adjusted EBITDA.
Full year 2024 revenue was $860.2 million, compared with $763.8 million in 2023
Full year 2024 GAAP net loss was $110.3 million, including $130.5 million of expenses tied to the Sterling acquisition
Full year 2024 adjusted diluted EPS was $0.82, compared with $1.00 in 2023
2025 guidance: revenue $1.5 billion to $1.6 billion; adjusted EBITDA $410 million to $450 million; adjusted diluted EPS $0.86 to $1.03
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