FIRST ADVANTAGE CORP

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

FA$21.58-8.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

	Year Ended December 31,
(in thousands)	2025	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$(34,824)	$(110,273)	$37,293
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	248,583	145,919	129,473
Loss on extinguishment of debt	1,052	383	—
Amortization of deferred financing costs	6,311	2,619	1,807
Bad debt expense (recovery)	705	158	(56)
Deferred taxes	(31,011)	(31,418)	(19,497)
Share-based compensation	24,456	31,762	15,265
Loss on foreign currency exchange rates	—	—	8
Loss (gain) on disposal and impairment of long-lived assets	2,155	(275)	1,608
Change in fair value of interest rate swaps	4,842	(10,511)	116
Changes in operating assets and liabilities:
Accounts receivable	(29,672)	20,775	2,339
Prepaid expenses and other assets	12,396	(1,908)	13,440
Accounts payable	(16,020)	(25,450)	(8,503)
Accrued compensation and accrued liabilities	6,380	7,176	(9,301)
Deferred revenues	735	762	788
Operating lease liabilities	(35)	(883)	(1,378)
Other liabilities	(1,265)	(961)	347
Income taxes receivable and payable, net	338	321	(929)
Net cash provided by operating activities	195,126	28,196	162,820
CASH FLOWS FROM INVESTING ACTIVITIES
Capitalized software development costs	(47,619)	(30,545)	(25,614)
Purchases of property and equipment	(6,633)	(1,720)	(2,085)
Acquisitions of businesses, net of cash acquired	—	(1,619,812)	(41,122)
Other investing activities	122	89	1,974
Net cash used in investing activities	(54,130)	(1,651,988)	(66,847)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayments of First Lien Credit Facility	(70,463)	(59,200)	—
Proceeds from issuance of common stock under share-based compensation plans	3,751	14,653	4,565
Net settlement of share-based compensation plan awards	(3,912)	(14,305)	(350)
Cash dividends paid	(133)	(255)	(217,739)
Borrowings from First Lien Credit Facility	—	1,679,093	—
Payments of debt issuance costs	—	(38,212)	—
Payments on deferred purchase agreements	—	(703)	(938)
Payments on finance lease obligations	—	(6)	(104)
Share repurchases	—	—	(58,990)
Net cash (used in) provided by financing activities	(70,757)	1,581,065	(273,556)
Effect of exchange rate on cash, cash equivalents, and restricted cash	362	(1,702)	(301)
Increase (decrease) in cash, cash equivalents, and restricted cash	70,601	(44,429)	(177,884)
Cash, cash equivalents, and restricted cash at beginning of period	169,483	213,912	391,796
Cash, cash equivalents, and restricted cash at end of period	$240,084	$169,483	$213,912
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	$161,803	$65,767	$45,697
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Property and equipment acquired on account	$3,094	$539	$118
Non-cash property and equipment additions	$—	$540	$—
Excise taxes on share repurchases incurred but not paid	$—	$—	$490
Dividends declared but not paid	$—	$—	$614

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.