Filing Flows › First Advantage (FA) › Q1 2025
First Advantage (FA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
First Advantage (FA) reported revenue of $355M for the first quarter 2025 (Q1 2025), +109% from a year earlier and +15% from the quarter before. Operating margin was 2.1%, net loss $41.2M (11.6% of revenue).
First Advantage, Q1 2025: revenue $355M (+109% year over year), operating margin 2.1%, net loss $41.2M, operating cash flow $19.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $355M | +15% | +109% |
| Operating profit | $7.6M | — | — |
| Net earnings | −$41.2M | — | — |
| Operating cash flow | $19.5M | — | -49% |
| Free cash flow | $19.0M | — | -50% |
What changed
Revenue was $354.6M in Q1 2025, up 109% year over year and up 15% from the previous quarter. Sterling was the largest line at 53% of revenue. First Advantage International added $1.9M year over year (up 9%), 1% of the total change. First Advantage Americas declined 3%.
Operating profit was $7.6M, a 2.1% margin (up 2.6 points year over year). Total costs grew 104% against revenue growth of 109%. The fastest-growing cost line was Research & development (+118%). The quarter ended with a net loss of $41.2M, narrower than the previous quarter's $100.4M loss. Net interest and other expense of $46.6M was the main reason.
Operating cash flow was $19.5M (down 49% year over year). Non-cash charges added back $27.6M of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items added $25.1M. Capital expenditures of $485K left free cash flow of $19.0M.
Questions
What was First Advantage's revenue in the first quarter 2025?
First Advantage (FA) reported revenue of $355M for the first quarter 2025 (Q1 2025), +109% from a year earlier and +15% from the quarter before.
Was First Advantage profitable in the first quarter 2025?
Operating profit was $7.6M (2.1% of revenue) and net loss $41.2M.
Source: First Advantage 10-Q on SEC EDGAR.