FIRST ADVANTAGE CORP
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
FA$23.52-0.0%Stored close · as of Nov 9, 2026
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Condensed Consolidated Balance Sheets
| (in thousands, except share and per share amounts) | September 30, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $307,392 | $213,774 |
| Restricted cash | 88 | 138 |
| Accounts receivable (net of allowance for doubtful accounts of $1,284 and $1,036 at September 30, 2024 and December 31, 2023, respectively) | 143,020 | 142,690 |
| Prepaid expenses and other current assets | 13,667 | 13,426 |
| Income tax receivable | 2,808 | 3,710 |
| Total current assets | 466,975 | 373,738 |
| Property and equipment, net | 55,403 | 79,441 |
| Goodwill | 822,277 | 820,654 |
| Trade names, net | 60,990 | 66,229 |
| Customer lists, net | 238,821 | 275,528 |
| Other intangible assets, net | 1,898 | 2,257 |
| Deferred tax asset, net | 3,172 | 2,786 |
| Other assets | 7,598 | 10,021 |
| TOTAL ASSETS | $1,657,134 | $1,630,654 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $71,108 | $47,024 |
| Accrued compensation | 18,687 | 16,379 |
| Accrued liabilities | 22,962 | 16,162 |
| Current portion of operating lease liability | 2,566 | 3,354 |
| Income tax payable | 3,534 | 264 |
| Deferred revenues | 2,495 | 1,856 |
| Total current liabilities | 121,352 | 85,039 |
| Long-term debt (net of deferred financing costs of $4,880 and $6,268 at September 30, 2024 and December 31, 2023, respectively) | 559,844 | 558,456 |
| Deferred tax liability, net | 48,181 | 71,274 |
| Operating lease liability, less current portion | 4,340 | 5,931 |
| Other liabilities | 2,703 | 3,221 |
| Total liabilities | 736,420 | 723,921 |
| COMMITMENTS AND CONTINGENCIES (Note 12) | ||
| EQUITY | ||
| Common stock - $0.001 par value; 1,000,000,000 shares authorized, 145,558,948 and 145,074,802 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | 146 | 145 |
| Additional paid-in-capital | 998,707 | 977,290 |
| Accumulated deficit | (59,442) | (49,545) |
| Accumulated other comprehensive loss | (18,697) | (21,157) |
| Total equity | 920,714 | 906,733 |
| TOTAL LIABILITIES AND EQUITY | $1,657,134 | $1,630,654 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.