Business
First Advantage Delivers Record Fourth Quarter and Full Year Financial Results
Reports Sixth Consecutive Quarter of Double-Digit Revenue Growth Fourth Quarter 2021 Financial Highlights(All results compared to prior year period) Revenues
About this update from First Advantage Corporation
[{"type":"text","content":"Reports Sixth Consecutive Quarter of Double-Digit Revenue Growth Fourth Quarter 2021 Financial Highlights(All results compared to prior year period) Revenues were $212.5 million, an increase of 35.8%, compared to $156.5 million in the prior year periodNet income was $15.4 million, compared to a net loss of $(5.9) million in the prior year periodAdjusted EBITDA1 was $69.4 million, compared to $44.6 million in the prior year periodAdjusted Net Income1 was $46.5 million, compared to $24.7 million in the prior year period Full Year 2021 Financial Highlights(All results compared to prior year periods; Successor period is defined as the period from February 1, 2020 through December 31, 2020; Predecessor period is defined as the period from January 1, 2020 through January 31, 2020) Revenues were $712.3 million, compared to $472.4 million and $36.8 million for the Successor and Predecessor periods, respectivelyNet income was $16.1 million, compared to a net loss of $(47.5) million and $(36.5) million for the Successor and Predecessor periods, respectivelyAdjusted EBITDA1 was $226.3 million, compared to $139.8 million and $7.0 million for the Successor and Predecessor periods, respectivelyAdjusted Net Income1 was $142.4 million, compared to $63.9 million and $1.4 million for the Successor and Predecessor periods, respectively 2022 Full Year Guidance Introducing full year 2022 guidance ranges for revenues of $813 to $828 million, Adjusted EBITDA of $250 to $257 million, and Adjusted Net Income of $156 to $161 million2 ATLANTA, March 23, 2022 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety, and compliance related to human capital, today announced financial results for the fourth quarter and full year ended December 31, 2021. Key Financials (Amounts in millions, except per share data and percentages) Three months ended December 31, 2021 2020 Change Revenues$212.5 $156.5 35.8% Income from operations$25.3 $3.4 654.9% Net income (loss)$15.4 $(5.9) NM Net income (loss) margin 7.2% (3.7)% Diluted earnings (loss) per share$0.10 $(0.05) NM Adjusted EBITDA1$69.4 $44.6 55.5% Adjusted EBITDA Margin1 32.7% 28.5% Adjusted Net Income1$46.5 $24.7 88.0% Adjusted Diluted Earnings Per Share1$0.31 $0.19 63.2% 1 Adjusted EBITDA, Adjusted EBITDA Margin, Adjuste...