FIRST ADVANTAGE Reports Third Quarter Earnings for Fiscal Year 2023

☀️Earnings Overview

On November 9 2023, FIRST ADVANTAGE ($NASDAQ:FA) reported their earnings results for the third quarter of Fiscal Year 2023, which ended on September 30 2023. Total revenue was USD 200.4 million, a 2.7% decrease from the same quarter in the previous year. Unfortunately, net income decreased by 37.4% to USD 10.8 million compared to the same period the year before.

Share Price

The stock opened at $13.4 and closed at $13.5, representing a 1.4% increase from its prior closing price of $13.3. This marks a positive sign for the company, as it is the first time in several quarters that FIRST ADVANTAGE‘s stock has seen a rise in prices. The company is currently investing in several new growth initiatives, such as artificial intelligence and machine learning, which could potentially lead to further increases in its stock price.

Additionally, FIRST ADVANTAGE has recently launched a new product line that is expected to drive future revenue growth. The management team is cautiously optimistic about the future prospects of FIRST ADVANTAGE, and believes that its commitment to innovation and customer service will continue to serve the company well. Investors appear to be equally optimistic, and are hoping that the third quarter earnings will be a sign of continued success for FIRST ADVANTAGE in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for First Advantage. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for First Advantage. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for First Advantage. More…

Key Ratios Snapshot

Some of the financial key ratios for First Advantage are shown below. More…

Analysis

At GoodWhale, we’ve conducted an analysis of FIRST ADVANTAGE‘s wellbeing. According to our Star Chart, FIRST ADVANTAGE is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This company could be of interest to a variety of investors, given its high health score of 8/10. This score reflects FIRST ADVANTAGE’s ability to sustain future operations in times of crisis, as determined by its cashflows and debt. FIRST ADVANTAGE is also strong in profitability and medium in dividend, growth and asset. Together, these make it an attractive option for those looking for a reliable income as well as potential capital gains. As such, it is a worthwhile consideration for a wide range of investors. 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‘s earnings results for Fiscal Year 2023’s third quarter show decreased revenue and net income from the same time period in the previous year. Revenue was reported as USD 200.4 million, a 2.7% decrease, and net income was reported as USD 10.8 million, a 37.4% decrease. Investors should be cautious when considering an investment in FIRST ADVANTAGE, as the decreased revenue and net income indicate a potential lack of investment opportunity and may indicate that the company is struggling to stay financially sound. Further research and analysis should be conducted before investing in FIRST ADVANTAGE to ensure an informed decision is made.