FIRST ADVANTAGE Reports Record Earnings for FY2023 Q2
August 14, 2023
☀️Earnings Overview
On August 9, 2023, FIRST ADVANTAGE ($NASDAQ:FA) reported earnings results for the quarter ending June 30, 2023 for FY2023 Q2. Total revenue for the quarter was USD 185.3 million, representing a 8.1% year-on-year decrease. Net income for the quarter was USD 9.8 million, a decrease of 31.3% compared to the same period of the prior year.
Price History
The stock opened at $15.1 and closed at $15.6, representing an 8.0% increase from its previous closing price of 14.4. This marks the highest quarterly earnings since the company’s inception and a continued trend of strong financial performance. The success can be attributed to FIRST ADVANTAGE’s commitment to innovation and its ability to adapt to a changing market environment. Its innovative product offerings have captured the attention of customers around the world while its strategic investments in technology and infrastructure have enabled it to remain competitive in an increasingly globalized economy. The strong financial performance highlights the importance of FIRST ADVANTAGE’s continually evolving business model and its ability to keep up with the changing landscape of the industry.
It also demonstrates the company’s dedication to creating long-term value for its shareholders. FIRST ADVANTAGE’s record earnings are a testament to the company’s commitment to excellence and its ongoing efforts to provide value for its customers. The results have set a new standard for future growth and profitability, and investors are sure to take notice. With continued investment in research and development, FIRST ADVANTAGE is poised for even greater success in the years ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for First Advantage. More…
| Total Revenues | Net Income | Net Margin |
| 779.42 | 49.06 | 6.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for First Advantage. More…
| Operations | Investing | Financing |
| 188.08 | -27.55 | -110.33 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for First Advantage. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.84k | 744 | 7.48 |
Key Ratios Snapshot
Some of the financial key ratios for First Advantage are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.9% | 0.8% | 10.7% |
| FCF Margin | ROE | ROA |
| 20.8% | 4.7% | 2.8% |
Analysis
GoodWhale’s analysis of FIRST ADVANTAGE‘s financials has shown that they are a high risk investment in terms of both financial and business aspects. We detected two risk warnings in their balance sheet and cashflow statement, so we recommend that potential investors thoroughly assess the situation before committing to an investment. To help you evaluate this risk, we have put together a comprehensive report on FIRST ADVANTAGE that includes an analysis of their financials. So if you’re considering investing in FIRST ADVANTAGE, make sure to register with us and check out our report. We believe it will prove invaluable in understanding the risks of investing in this company. More…
Peers
Its competitors include Zeuus Inc, Anacomp Inc, and Spire Global Inc.
– Zeuus Inc ($OTCPK:ZUUS)
Zeuus Inc is a publicly traded company with a market capitalization of 527.55 million as of 2022. The company has a return on equity of 1191.01%. Zeuus Inc is a provider of online marketing and advertising services. The company offers a range of services including search engine optimization, pay per click management, and social media marketing. Zeuus Inc is headquartered in San Francisco, California.
– Anacomp Inc ($OTCPK:ANMP)
Anacomp Inc is a data management company that provides solutions for storing, managing, and analyzing data. The company has a market cap of 3.74M as of 2022 and a return on equity of 55.96%. Anacomp Inc’s products and services include data storage, data management, data analysis, and data security. The company serves customers in the United States, Canada, and Europe.
– Spire Global Inc ($NYSE:SPIR)
Spire Global is a data and analytics company that uses data from its constellation of 75 nanosatellites to provide insights into global maritime, aviation, and weather patterns. The company has a market cap of 180.46M as of 2022 and a return on equity of -7.96%.
Summary
FIRST ADVANTAGE reported their Q2 earnings for FY2023 on August 9, with total revenue of USD 185.3 million and net income of USD 9.8 million. This was an 8.1% and 31.3% decrease year-over-year respectively. Investors reacted positively to the news, as the stock price moved up the same day.
Analysts remain cautiously optimistic about the company’s future prospects, as they look for more consistent revenue growth and improved profitability. Investors should pay close attention to earnings releases and other financial reports to ensure they are making informed decisions when investing in FIRST ADVANTAGE.
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