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Condensed Financial Information of Registrant (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Balance Sheets

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

 

 

 

 

December 31,

 

 

 

Classification

 

2025

 

 

2024

 

Assets

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

 

Right of use operating lease assets

 

Other assets

 

$

9,264

 

 

$

13,659

 

Finance leases

 

 

 

 

 

 

 

 

Property and equipment, gross

 

Property and equipment, net

 

 

5,896

 

 

 

5,897

 

Accumulated depreciation

 

Property and equipment, net

 

 

(5,877

)

 

 

(5,864

)

Property and equipment, net

 

Property and equipment, net

 

 

19

 

 

 

33

 

Total lease assets

 

 

 

$

9,283

 

 

$

13,692

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

 

 

 

 

Other current

 

Current portion of operating lease liability

 

$

3,568

 

 

$

4,245

 

Non-current

 

Operating lease liability, less current portion

 

 

5,525

 

 

 

9,149

 

Total operating liabilities

 

 

 

 

9,093

 

 

 

13,394

 

Finance leases

 

 

 

 

 

 

 

 

Other current

 

Accrued liabilities

 

 

13

 

 

 

13

 

Non-current

 

Other liabilities

 

 

6

 

 

 

18

 

Total finance liabilities

 

 

 

 

19

 

 

 

31

 

Total lease liabilities

 

 

 

$

9,112

 

 

$

13,425

 

 
Parent [Member]  
Condensed Balance Sheets

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

(in thousands, except share and per share data)

 

 

December 31,

 

 

2025

 

 

2024

 

ASSETS

 

 

 

 

 

 

Investments in subsidiaries

 

$

1,222,807

 

 

$

1,240,750

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

Liabilities

 

$

—

 

 

$

—

 

EQUITY

 

 

 

 

 

 

Common stock - $0.001 par value; 1,000,000,000 shares authorized, 174,190,461 and 173,171,145 shares issued and outstanding as of December 31, 2025 and 2024, respectively

 

 

174

 

 

 

173

 

Additional paid-in-capital

 

 

1,437,570

 

 

 

1,437,718

 

Accumulated deficit

 

 

(194,632

)

 

 

(159,808

)

Accumulated other comprehensive income

 

 

(20,305

)

 

 

(37,333

)

Total equity

 

 

1,222,807

 

 

 

1,240,750

 

TOTAL LIABILITIES AND EQUITY

 

$

1,222,807

 

 

$

1,240,750

 
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,

 

 

 

2025

 

 

2024

 

 

2023

 

Equity in net (loss) income of subsidiaries

 

$

(34,824

)

 

$

(110,273

)

 

$

37,293

 

NET (LOSS) INCOME

 

 

(34,824

)

 

 

(110,273

)

 

 

37,293

 

Foreign currency translation adjustments

 

 

17,028

 

 

 

(16,176

)

 

 

1,174

 

COMPREHENSIVE (LOSS) INCOME

 

$

(17,796

)

 

$

(126,449

)

 

$

38,467

 

 

 

 

 

 

 

 

 

 

 

NET (LOSS) INCOME

 

$

(34,824

)

 

$

(110,273

)

 

$

37,293

 

Basic net (loss) income per share

 

$

(0.20

)

 

$

(0.74

)

 

$

0.26

 

Diluted net (loss) income per share

 

$

(0.20

)

 

$

(0.74

)

 

$

0.26

 

Weighted average number of shares outstanding - basic

 

 

173,199,004

 

 

 

148,582,226

 

 

 

144,083,808

 

Weighted average number of shares outstanding - diluted

 

 

173,199,004

 

 

 

148,582,226

 

 

 

146,226,096