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Nasdaq · Technology

FIRST ADVANTAGE CORP (FA)

As-reported financials and SEC filings for FIRST ADVANTAGE CORP. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About FIRST ADVANTAGE CORP

First Advantage Corporation is a global software and data company that provides identity solutions, criminal background screening, credential verifications, drug and health screening, and continuous risk monitoring. It serves employers and organizations worldwide by delivering fast and reliable identity verification and screening services to support hiring and workforce management. The company integrates AI-powered technology with extensive proprietary and third-party data to help clients manage risk and compliance throughout the employee lifecycle.

Snapshot

Revenue
$1.57B
Revenue growth (YoY)
83.0%
Net income
$-34.8M
Diluted EPS
$-0.20
Gross margin
Operating margin
8.4%
Net margin
-2.2%
FCF margin
12.0%
ROE
-2.7%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$3.59B
Long-term debt / equity
1.58×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at First Advantage

  • Revenue grew 83.0% to $1.6B in FY2025, faster than the 12.6% the year before.
  • Operating margin is 8.4% in FY2025, -0.5 pp against 9.0% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $449M, up 14.9% from Q2 FY2025.
  • Free cash flow was $188M in FY2025, 12.0% of revenue.
  • Net loss narrowed to $35M in FY2025, from $110M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where First Advantage’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin8.4%
68th percentile of 303
Net margin-2.2%
40th percentile of 307
FCF margin12.0%
46th percentile of 285
Revenue growth (YoY)+83.0%
96th percentile of 325
ROE-2.7%
39th percentile of 285
Long-term debt / equity1.58×
83rd percentile of 127
Short interest3.16d
47th percentile of 330

First Advantage’s revenue growth of +83.0% ranks in the 96th percentile of the 325 software companies reporting it.

No reported insider purchases (code P) in the last 90 days; 2 insider sales totaling $275.3M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 1 quant / multi-strat book), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+1 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
2
0 trimmed, 2 exited
Combined position
$3.8M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$3.0M163.6KAdded
Gotham Asset ManagementQ2 2026$889,30549.3KAdded

No longer held by: Millennium Management (as of Q2 2026), Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
2
$275.3M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-12
filed 2026-08-14
SLTA V (GP), L.L.C.DirectorSell12.5M$22.02$275.2M
2026-06-08
filed 2026-06-10
Clark James LindseyDirectorSell4.9K$15.69$77K
2026-06-01
filed 2026-06-03
Jardine Bret TChief Legal OfficerSell25.0K$16.71$418K
2026-05-12
filed 2026-05-13
Jardine Bret TChief Legal OfficerSell682$16.12$11K
2026-05-07
filed 2026-05-08
Smith Joelle MPresidentSell23.3K$15.00$350K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
10.8M
settled 2026-08-14
Change vs prior
-8.3%
vs previous settlement
Days to cover
3.16
at avg daily volume
Avg daily volume
3.4M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1410.8M-8.3%3.16
2026-07-3111.8M-17.9%6.23
2026-07-1514.3M-10.6%8.11
2026-06-3016.0M+21.9%7.83
2026-06-1513.1M+0.6%6.14
2026-05-2913.1M+0.2%20.29
2026-05-1513.0M-6.4%8.92
2026-04-3013.9M+2.7%12.94

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.57B$860.2M$763.8M$810.0M$712.3M
Gross profit
Operating income$132.5M$-62.4M$81.5M$94.3M$63.8M
Net income$-34.8M$-110.3M$37.3M$64.6M$16.1M
Diluted EPS$-0.20$-0.74$0.26$0.43$0.11

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$195.1M$28.2M$162.8M$212.8M$148.7M
Capital expenditure$6.6M$1.7M$2.1M$6.2M$7.3M
Free cash flow$188.5M$26.5M$160.7M$206.6M$141.4M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$448.8M14.9%$16.9M$0.10
Q1 FY2026$385.2M8.6%$2.2M$0.01
Q4 FY2025$420.0M36.8%$3.5M$0.02
Q3 FY2025$409.2M105.5%$2.6M$0.01
Q2 FY2025$390.6M111.7%$308,000$0.00
Q1 FY2025$354.6M109.3%$-41.2M$-0.24
Q4 FY2024$307.1M51.6%$-100.4M$-0.62
Q3 FY2024$199.1M-0.6%$-8.9M$-0.06

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryServices-Computer Processing & Data Preparation
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2003
SEC CIK1210677

Selected SEC filings

10-K2026-02-26
View on EDGAR →
10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-12
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-06-08
View on EDGAR →
8-K2026-05-07
View on EDGAR →

Largest software peers

All software stocksAll Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.