First Advantage Corporation (NASDAQ: FA) is a global software and data company that provides employment background screening, digital identity verification, and related screening services to employers worldwide. Revenue is generated on a transactional basis, with customers paying per screening or verification order processed through First Advantage's technology platforms. The company acquired Sterling Check Corp. on October 31, 2024, which now operates as a separate reportable segment, meaningfully expanding its scale. First Advantage integrates with more than 100 third-party Human Capital Management and Applicant Tracking System platforms, creating switching costs for its enterprise customer base. As of December 31, 2025, the company reported a gross retention rate of approximately 96% and an average tenure of over 13 years among its top 100 customers. The company operates across the Americas (United States, Canada, and Latin America) and international markets. It does not intend to pay dividends for the foreseeable future and carries material indebtedness. Silver Lake Group is an affiliated private equity sponsor.

Revenue model

Transactional fees charged per background screening, identity verification, or related service order. Revenue is recognized in the first year following acquisitions as acquisition-attributable revenue. Enterprise customers are defined as those contributing $500,000 or more to annual revenues.

Products and services

Employment background screening, digital identity solutions, verification services. Brands and platforms include First Advantage, Profile Advantage, Enterprise Advantage, Insight Advantage, Verified!, RightID, RoadReady, Sterling, and Corporate Screening (as of the FY2025 10-K filing dated 2026-02-26).

Customers and end markets

Employers across multiple industry verticals, including large enterprise customers (contributing $500,000 or more annually). Also serves government entities and contractors to governmental customers. Customers include many of the largest companies globally as well as fast-growing businesses relying on human capital management programs.

Value-chain role

Technology intermediary sitting between employers and data sources, delivering background screening and identity verification results integrated directly into HR software workflows via connections to more than 100 HCM and Applicant Tracking System platforms.

Geographic exposure

Americas (United States, Canada, and Latin America) and international markets, as described in the FY2025 10-K filed 2026-02-26.

Source: SEC 10-K, filed 2026-02-26

Industry: Services-Computer Processing & Data Preparation Peers: Insperity Inc Alight Inc Everforth Inc Robert Half Inc HireRight Holdings Corp Kforce Inc Korn Ferry ManpowerGroup Inc Sterling Check Corp. Upwork Inc