Sterling Check Corp.
sterlingcheck.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 8, 2024. Its latest SEC filing is a SCHEDULE 13G/A from Feb 6, 2025.
10-Q for Q2 FY2024, filed Aug 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells background and identity verification services, including criminal screening, credential checks and drug and health screening, to employers and other organizations.
10-K for FY2023, filed Mar 6, 2024
How Did They Make Money?
Customers pay for background and identity verification services after receiving the completed screening report; payment is generally due within 30 to 60 days of the invoice.
10-K for FY2023, filed Mar 6, 2024
$719.6M
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10-K for FY2023, filed Mar 7, 2024
$719.6M ↗
Who Were Their Customers?
Sterling serves employers across industries through a direct sales team organized by industry and geography; client success teams handle onboarding, retention and additional sales.
10-K for FY2023, filed Mar 6, 2024We serve the background and identity verification services needs of more than 50,000 clients. Our client base is diversified in size of…View ↗
Sterling’s lead generation and sales organization is one of our defining differentiators in the market. A strong sales culture permeates…View ↗
Additionally, Sterling utilizes professional services and client success teams, which are also aligned by Vertical and Region, that are…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $116K in FY2023, but brought in more cash than it spent: $94.3M of free cash flow.
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Aug 9, 2024
−$6.2MView ↗
- ▼ Now a loss
- vs $323K in Q2 FY2023
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Oct 31, 2024
First Advantage completed its acquisition of Sterling
Sterling's common stock was withdrawn from Nasdaq listing as part of the transaction.
Sources
8-K, filed Oct 31, 2024
In connection with the consummation of the Transaction, on October 31, 2024, the Company repaid all outstanding term loans and other…View ↗
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Jun 5, 2024
Sterling appointed Richard Dziadzio interim CFO
Sources
8-K, filed Jun 5, 2024
Sterling Check Corp. (the “Company”) has appointed Richard Dziadzio as Executive Vice President, Interim Chief Financial Officer, effective…View ↗
Grew. Revenue grew 45% in 4 years, from $497.1M in FY2019 to $719.6M in FY2023, about 10% a year.
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