Filing Flows › First Advantage (FA) › Q3 2025
First Advantage (FA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
First Advantage (FA) reported revenue of $409M for the third quarter 2025 (Q3 2025), +105% from a year earlier and +5% from the quarter before. Operating margin was 10.3%, net earnings $2.6M (0.6% of revenue).
First Advantage, Q3 2025: revenue $409M (+106% year over year), operating margin 10.3%, net earnings $2.6M, operating cash flow $72.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $409M | +5% | +105% |
| Operating profit | $42.2M | +12% | +364% |
| Net earnings | $2.6M | +742% | — |
| Operating cash flow | $72.4M | +94% | +66% |
| Free cash flow | $71.2M | +97% | +65% |
What changed
Revenue was $409.2M in Q3 2025, up 105% year over year and up 5% from the previous quarter. Sterling was the largest line at 49% of revenue. First Advantage Americas added $8.0M year over year (up 5%), 4% of the total change.
Operating profit was $42.2M, a 10.3% margin (up 5.7 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, above the 5% margin then. Total costs grew 93% against revenue growth of 105%. The fastest-growing cost line was Other operating costs (+117%). Net earnings were $2.6M. The effective tax rate was -44.5%.
Operating cash flow was $72.4M (up 66% year over year), 2791% of net earnings. Non-cash charges added back $28.0M of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $36.1M. Capital expenditures of $1.1M left free cash flow of $71.2M.
Questions
What was First Advantage's revenue in the third quarter 2025?
First Advantage (FA) reported revenue of $409M for the third quarter 2025 (Q3 2025), +105% from a year earlier and +5% from the quarter before.
Was First Advantage profitable in the third quarter 2025?
Operating profit was $42.2M (10.3% of revenue) and net earnings $2.6M.
Source: First Advantage 10-Q on SEC EDGAR.