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$21.58-8.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net (loss) income | $(9,907) | $22,480 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation and amortization | 89,968 | 96,341 |
| Amortization of deferred financing costs | 1,388 | 1,362 |
| Bad debt expense | 92 | 134 |
| Deferred taxes | (23,115) | (8,723) |
| Share-based compensation | 19,303 | 10,449 |
| Loss on foreign currency exchange rates | — | 26 |
| (Gain) loss on disposal of fixed assets and impairment of ROU assets | (272) | 1,724 |
| Change in fair value of interest rate swaps | (1,006) | (2,201) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (151) | (12,162) |
| Prepaid expenses and other assets | 1,184 | 8,661 |
| Accounts payable | 23,115 | 531 |
| Accrued compensation and accrued liabilities | 9,917 | (8,389) |
| Deferred revenues | 591 | 87 |
| Operating lease liabilities | (722) | (1,134) |
| Other liabilities | (673) | (198) |
| Income taxes receivable and payable, net | 4,150 | (2,908) |
| Net cash provided by operating activities | 113,862 | 106,080 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capitalized software development costs | (20,384) | (18,781) |
| Purchases of property and equipment | (1,386) | (1,798) |
| Other investing activities | 29 | (231) |
| Acquisitions of businesses, net of cash acquired | 25 | (41,122) |
| Net cash used in investing activities | (21,716) | (61,932) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of common stock under share-based compensation plans | 5,862 | 4,089 |
| Net settlement of share-based compensation plan awards | (3,790) | (254) |
| Payments on deferred purchase agreements | (703) | (703) |
| Cash dividends paid | (211) | (217,683) |
| Payments on finance lease obligations | (3) | (97) |
| Share repurchases | — | (55,917) |
| Net cash provided by (used in) financing activities | 1,155 | (270,565) |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | 267 | (372) |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 93,568 | (226,789) |
| Cash, cash equivalents, and restricted cash at beginning of period | 213,912 | 391,796 |
| Cash, cash equivalents, and restricted cash at end of period | $307,480 | $165,007 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid for income taxes, net of refunds received | $19,168 | $21,006 |
| Cash paid for interest | $36,174 | $33,787 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| Property and equipment acquired on account | $926 | $25 |
| Non-cash property and equipment additions | $540 | $— |
| Excise taxes on share repurchases incurred but not paid | $(10) | $558 |
| Dividends declared but not paid | $— | $701 |
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