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Condensed Financial Information of Registrant (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Balance Sheets

Supplemental balance sheet information related to leases is as follows (in thousands):

 

 

 

 

December 31,

 

 

 

Classification

 

2024

 

 

2023

 

Assets

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

 

Right of use operating lease assets

 

Other assets

 

$

13,659

 

 

$

7,277

 

Finance leases

 

 

 

 

 

 

 

 

Property and equipment, gross

 

Property and equipment, net

 

 

5,897

 

 

 

5,860

 

Accumulated depreciation

 

Property and equipment, net

 

 

(5,864

)

 

 

(5,860

)

Property and equipment, net

 

Property and equipment, net

 

 

33

 

 

 

—

 

Total lease assets

 

 

 

$

13,692

 

 

$

7,277

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

 

Other current

 

Current portion of operating lease liability

 

$

4,245

 

 

$

3,354

 

Non-current

 

Operating lease liability, less current portion

 

 

9,149

 

 

 

5,931

 

Total operating liabilities

 

 

 

 

13,394

 

 

 

9,285

 

Finance leases

 

 

 

 

 

 

 

 

Other current

 

Accrued liabilities

 

 

13

 

 

 

—

 

Non-current

 

Other liabilities

 

 

18

 

 

 

—

 

Total finance liabilities

 

 

 

 

31

 

 

 

—

 

Total lease liabilities

 

 

 

$

13,425

 

 

$

9,285

 

 
Parent [Member]  
Condensed Balance Sheets

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

(in thousands, except share and per share data)

 

 

December 31,

 

 

2024

 

 

2023

 

ASSETS

 

 

 

 

 

 

Investments in subsidiaries

 

$

1,240,750

 

 

$

872,206

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

Liabilities

 

$

—

 

 

$

—

 

EQUITY

 

 

 

 

 

 

Common stock - $0.001 par value; 1,000,000,000 shares authorized, 173,171,145 and 145,074,802 shares issued and outstanding as of December 31, 2024 and 2023, respectively

 

 

173

 

 

 

145

 

Additional paid-in-capital

 

 

1,437,718

 

 

 

942,763

 

Accumulated deficit

 

 

(159,808

)

 

 

(49,545

)

Accumulated other comprehensive income

 

 

(37,333

)

 

 

(21,157

)

Total equity

 

 

1,240,750

 

 

 

872,206

 

TOTAL LIABILITIES AND EQUITY

 

$

1,240,750

 

 

$

872,206

 
Condensed Statements of Operations and Comprehensive (Loss) Income

FIRST ADVANTAGE CORPORATION

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

(in thousands, except share and per share data)

 

 

For the Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Equity in net income of subsidiaries

 

$

(110,273

)

 

$

37,293

 

 

$

64,604

 

NET (LOSS) INCOME

 

 

(110,273

)

 

 

37,293

 

 

 

64,604

 

Foreign currency translation adjustments

 

 

(16,176

)

 

 

1,174

 

 

 

(20,694

)

COMPREHENSIVE (LOSS) INCOME

 

$

(126,449

)

 

$

38,467

 

 

$

43,910

 

 

 

 

 

 

 

 

 

 

 

NET (LOSS) INCOME

 

$

(110,273

)

 

$

37,293

 

 

$

64,604

 

Basic net (loss) income per share

 

$

(0.74

)

 

$

0.26

 

 

$

0.43

 

Diluted net (loss) income per share

 

$

(0.74

)

 

$

0.26

 

 

$

0.43

 

Weighted average number of shares outstanding - basic

 

 

148,582,226

 

 

 

144,083,808

 

 

 

150,227,213

 

Weighted average number of shares outstanding - diluted

 

 

148,582,226

 

 

 

146,226,096

 

 

 

151,807,139