First Advantage Corporation (FA) Income Statement
FA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFA revenue and net income
Where FA's revenue goes
2025Each bar shows an amount and its share of revenue. FA kept −2.2% of revenue as net income.
FA profit margins
FA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +83.0% | +24.8% | +25.3% | +9.4% |
| Gross profit | +14.4% | +5.5% | +13.6% | +1.3% |
| Operating income | — | +14.4% | — | +3.7% |
| Net income | — | — | — | — |
| EPS (diluted) | +20.7% | −1.3% | — | −1.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FA quarterly EPS vs estimates
First Advantage beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.32).
FA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.57B | $860.2M | $763.8M | $810.0M | $712.3M | $509.2M | $481.8M | $780.0M | $842.9M | $817.6M |
| Cost of revenue | $1.10B | $448.9M | $386.8M | $408.9M | $352.2M | $260.6M | $245.3M | $282.7M | $281.8M | $291.3M |
| Gross profit | $470.5M | $411.3M | $377.0M | $401.1M | $360.1M | $248.6M | $236.4M | $497.3M | $561.2M | $526.2M |
| Research & development | $101.9M | $63.8M | $49.3M | $51.9M | $45.5M | $35.4M | $33.2M | — | — | — |
| Sales, general & admin | $236.2M | $263.9M | $116.7M | $116.6M | $108.0M | $78.1M | $118.3M | $274.4M | — | — |
| Total operating expenses | $329.3M | $473.7M | $295.5M | $306.8M | $296.3M | $250.7M | $144.3M | $425.5M | $443.6M | $405.9M |
| Operating income | $141.2M | −$62.4M | $81.5M | $94.3M | $63.8M | −$2.0M | $92.2M | $121.1M | $117.6M | $120.4M |
| Interest income | — | — | — | — | $150,000 | — | $945,000 | — | — | — |
| Interest expense | $168.7M | $51.8M | $33.0M | $9.2M | $25.1M | $48.0M | $52.0M | $2.5M | $10.6M | $6.4M |
| Income before taxes | −$37.3M | −$114.6M | $48.5M | $85.1M | $24.9M | −$71.8M | $41.1M | $223.6M | $222.2M | $113.9M |
| Income taxes | −$2.4M | −$4.3M | $11.2M | $20.5M | $8.9M | $12.2M | $6.9M | $85.5M | $84.1M | $47.4M |
| Net income | −$34.8M | −$110.3M | $37.3M | $64.6M | $16.1M | −$84.0M | $34.2M | $34.9M | $138.1M | $66.2M |
| EBITDA | $380.0M | $83.2M | $211.0M | $232.5M | $195.1M | $135.1M | $119.1M | $115.3M | $263.2M | $158.6M |
| EPS (diluted) | $0.99 | $0.82 | $1.00 | $1.03 | $1.58 | −$0.68 | $0.21 | −$0.06 | $2.34 | $1.14 |
| Gross margin | 29.9% | 47.8% | 49.4% | 49.5% | 50.6% | 48.8% | 49.1% | 63.8% | 66.6% | 64.4% |
| Operating margin | 9.0% | −7.3% | 10.7% | 11.6% | 9.0% | −0.4% | 19.1% | 15.5% | 13.9% | 14.7% |
| Net margin | −2.2% | −12.8% | 4.9% | 8.0% | 2.3% | −16.5% | 7.1% | 4.5% | 16.4% | 8.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $448.8M | $385.2M | $420.0M | $409.2M | $390.6M | $354.6M | $307.1M | $199.1M | $184.5M | $169.4M | $202.6M | $200.4M |
| Cost of revenue | $244.8M | $273.6M | $319.5M | $222.0M | $207.8M | $192.6M | $168.5M | $100.9M | $92.3M | $87.2M | $101.3M | $101.4M |
| Gross profit | $204.0M | $111.6M | $100.5M | $187.1M | $182.8M | $162.0M | $138.6M | $98.2M | $92.2M | $82.2M | $101.3M | $99.0M |
| Research & development | $27.3M | $24.6M | $78.0M | $25.1M | $25.7M | $27.2M | $24.8M | $12.9M | $13.7M | $12.5M | $10.9M | $13.1M |
| Sales, general & admin | $57.8M | $53.5M | $55.7M | $57.5M | $57.5M | $65.6M | $172.1M | $46.0M | $38.6M | $40.7M | $27.9M | $30.2M |
| Total operating expenses | $147.0M | $77.5M | $54.9M | $144.9M | $145.1M | $154.4M | $219.3M | $89.1M | $82.3M | $83.0M | $71.9M | $75.7M |
| Operating income | $57.0M | $34.1M | $45.6M | $42.2M | $37.7M | $7.6M | −$80.7M | $9.1M | $9.9M | −$726,000 | $29.4M | $23.2M |
| Interest expense | $31.6M | $29.8M | $38.9M | $40.9M | $42.3M | $46.6M | $23.7M | $17.2M | $7.4M | $3.6M | $12.9M | $7.6M |
| Income before taxes | $25.1M | $3.3M | $7.2M | $1.8M | −$7.3M | −$39.0M | −$104.8M | −$8.1M | $2.5M | −$4.3M | $16.5M | $15.7M |
| Income taxes | $8.1M | $1.1M | $3.8M | −$798,000 | −$7.6M | $2.2M | −$4.4M | $782,000 | $689,000 | −$1.4M | $1.7M | $4.9M |
| Net income | $16.9M | $2.2M | $3.5M | $2.6M | $308,000 | −$41.2M | −$100.4M | −$8.9M | $1.9M | −$2.9M | $14.8M | $10.8M |
| EBITDA | $118.6M | $95.3M | $108.9M | $104.9M | $101.9M | $73.1M | −$25.1M | $52.5M | $49.1M | $40.2M | $62.5M | $55.6M |
| EPS (diluted) | $0.33 | $0.26 | $0.28 | $0.30 | $0.24 | $0.17 | $0.18 | $0.26 | $0.21 | $0.17 | $0.29 | $0.28 |
| Gross margin | 45.5% | 29.0% | 23.9% | 45.7% | 46.8% | 45.7% | 45.1% | 49.3% | 50.0% | 48.5% | 50.0% | 49.4% |
| Operating margin | 12.7% | 8.8% | 10.9% | 10.3% | 9.7% | 2.1% | −26.3% | 4.6% | 5.4% | −0.4% | 14.5% | 11.6% |
| Net margin | 3.8% | 0.6% | 0.8% | 0.6% | 0.1% | −11.6% | −32.7% | −4.4% | 1.0% | −1.7% | 7.3% | 5.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FA's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FA financial results
In fiscal year 2025 (ended December 31, 2025), First Advantage reported revenue of $1.6 billion, up 83.0% from the year before. It had a net loss of $34.8 million, a net profit margin of −2.2%. Diluted earnings per share came to $0.99. Over five years revenue grew at an average rate of 25.3% a year.
See the FA stock overview for the latest quote and news, or the FA chart for price history and technical indicators.
FA income statement FAQ
What is First Advantage's annual revenue?
First Advantage reported total revenue of $1.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 83.0% from $860.2 million the previous year.
Is First Advantage profitable?
No. First Advantage reported a net loss of $34.8 million in fiscal 2025, a net profit margin of −2.2%; its operating margin was 9.0%.
What is First Advantage's gross margin?
First Advantage's gross margin was 29.9% in fiscal 2025: for every $100 of revenue, First Advantage kept $30 after the direct cost of its products and services.
How much does First Advantage spend on research and development?
First Advantage spent $101.9 million on research and development in fiscal 2025, 6.5% of revenue.
How fast is First Advantage growing?
Revenue grew 25.3% a year on average over the last five fiscal years, from $509.2 million to $1.6 billion.
What are First Advantage's earnings per share?
First Advantage earned $0.99 per diluted share in fiscal 2025, compared with $0.82 a year earlier.
When will First Advantage report its next earnings?
First Advantage is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does First Advantage's fiscal year end?
First Advantage's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.