Profitable Growth and Strong Retention
First Advantage reported a revenue increase of approximately 4% year-over-year on a pro forma basis and achieved adjusted EBITDA margins of 29%. The company also improved its retention rate to 97%, up from 96% in Q2.
Successful Integration of Sterling Acquisition
The integration of Sterling is progressing ahead of schedule, delivering strategic and financial benefits. Synergies achieved have exceeded the original goal, with $52 million actioned so far.
Strong New Logo and Upsell/Cross-Sell Performance
The company has experienced success with 17 enterprise bookings in Q3 and 75 in the last 12 months, with each having over $500,000 of expected annual contract value.
Narrowed Full Year Guidance with Strong Expectations
Full year 2025 guidance ranges have been narrowed, with refined midpoints at or above the original guidance midpoint. Revenue projected between $1.535 billion to $1.570 billion.