FIRST ADVANTAGE CORP
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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, 2026 · Filed Nov 5, 2026
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) | 2026 | 2025 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | $39,571 | $(38,293) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 190,949 | 185,846 |
| Loss on extinguishment of debt | 1,348 | 661 |
| Amortization of deferred financing costs | 4,470 | 4,773 |
| Bad debt expense (recovery) | 1,294 | (1) |
| Deferred taxes | (31,066) | (28,342) |
| Share-based compensation | 14,746 | 19,430 |
| Loss on disposal and impairment of long-lived assets | 7,031 | 1,720 |
| Change in fair value of interest rate swaps | (11,811) | 5,607 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (55,456) | (23,123) |
| Prepaid expenses and other assets | (8,689) | 7,181 |
| Accounts payable | 29,328 | 4,008 |
| Accrued compensation and accrued liabilities | 5,122 | (5,218) |
| Deferred revenues | (234) | 639 |
| Operating lease liabilities | 193 | (132) |
| Other liabilities | (2,710) | (1,293) |
| Income taxes receivable and payable, net | 2,742 | (4,278) |
| Net cash provided by operating activities | 186,828 | 129,185 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capitalized software development costs | (47,579) | (34,536) |
| Purchases of property and equipment | (11,058) | (2,847) |
| Other investing activities | 2,028 | 87 |
| Net cash used in investing activities | (56,609) | (37,296) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Repayments of First Lien Credit Facility | (95,000) | (45,462) |
| Share repurchases | (38,381) | — |
| Proceeds from issuance of common stock under share-based compensation plans | 8,161 | 3,691 |
| Net settlement of share-based compensation plan awards | (1,556) | (3,145) |
| Other financing activities | (97) | (111) |
| Net cash used in financing activities | (126,873) | (45,027) |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | (2,416) | 587 |
| Increase in cash, cash equivalents, and restricted cash | 930 | 47,449 |
| Cash, cash equivalents, and restricted cash at beginning of period | 240,084 | 169,483 |
| Cash, cash equivalents, and restricted cash at end of period | $241,014 | $216,932 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid for income taxes, net of refunds received | $46,707 | $27,884 |
| Cash paid for interest | $103,906 | $124,493 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| Property and equipment acquired on account | $2,131 | $1,558 |
| Excise taxes on share repurchases incurred but not paid | $383 | $— |
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