Filing Flows › First Advantage (FA) › Q2 2025
First Advantage (FA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
First Advantage (FA) reported revenue of $391M for the second quarter 2025 (Q2 2025), +112% from a year earlier and +10% from the quarter before. Operating margin was 9.7%, net earnings $308K (0.1% of revenue).
First Advantage, Q2 2025: revenue $391M (+112% year over year), operating margin 9.7%, net earnings $308K, operating cash flow $37.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $391M | +10% | +112% |
| Operating profit | $37.7M | +395% | — |
| Net earnings | $308K | — | — |
| Operating cash flow | $37.3M | +92% | +17% |
| Free cash flow | $36.1M | +90% | +15% |
What changed
Revenue was $390.6M in Q2 2025, up 112% year over year and up 10% from the previous quarter. Sterling was the largest line at 52% of revenue. First Advantage International added $1.8M year over year (up 8%), 1% of the total change.
Operating profit was $37.7M, a 9.7% margin (up 4.3 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, above the 5% margin then. Total costs grew 102% against revenue growth of 112%. The fastest-growing cost line was Other operating costs (+121%). Net earnings were $308K, down 83% year over year.
Operating cash flow was $37.3M (up 17% year over year), 12125% of net earnings. Non-cash charges added back $27.7M of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $3.6M. Capital expenditures of $1.2M left free cash flow of $36.1M.
Questions
What was First Advantage's revenue in the second quarter 2025?
First Advantage (FA) reported revenue of $391M for the second quarter 2025 (Q2 2025), +112% from a year earlier and +10% from the quarter before.
Was First Advantage profitable in the second quarter 2025?
Operating profit was $37.7M (9.7% of revenue) and net earnings $308K.
Source: First Advantage 10-Q on SEC EDGAR.