$FA
FIRST ADVANTAGE CORP

2023 Q3 Form 10-Q Financial Statement

#000095017023040616 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $200.4M $185.3M
YoY Change -2.73% -8.06%
Cost Of Revenue $101.4M $93.00M
YoY Change -2.78% -7.27%
Gross Profit $99.00M $92.32M
YoY Change -2.64% -8.84%
Gross Profit Margin 49.41% 49.82%
Selling, General & Admin $30.22M $29.98M
YoY Change 7.79% -3.71%
% of Gross Profit 30.52% 32.48%
Research & Development $13.11M $12.64M
YoY Change -1.08% -2.34%
% of Gross Profit 13.24% 13.7%
Depreciation & Amortization $16.90M $16.60M
YoY Change -4.52% -4.05%
% of Gross Profit 17.07% 17.98%
Operating Expenses $177.2M $167.7M
YoY Change -1.76% -6.21%
Operating Profit $23.21M $17.64M
YoY Change -9.54% -22.58%
Interest Expense -$7.600M -$3.887M
YoY Change 336.78% 24.9%
% of Operating Profit -32.74% -22.04%
Other Income/Expense, Net -$7.557M -$3.887M
YoY Change 334.31% 24.9%
Pretax Income $15.65M $13.75M
YoY Change -34.55% -30.09%
Income Tax $4.881M $3.968M
% Of Pretax Income 31.18% 28.86%
Net Earnings $10.77M $9.782M
YoY Change -37.4% -31.29%
Net Earnings / Revenue 5.38% 5.28%
Basic Earnings Per Share $0.08 $0.07
Diluted Earnings Per Share $0.07 $0.07
COMMON SHARES
Basic Shares Outstanding 145.2M 146.3M
Diluted Shares Outstanding 144.7M 145.3M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.0M $401.2M
YoY Change -57.21% 13.61%
Cash & Equivalents $164.9M $399.1M
Short-Term Investments $2.200M $2.153M
Other Short-Term Assets $19.40M $21.61M
YoY Change -29.34% -8.43%
Inventory
Prepaid Expenses
Receivables $156.9M $140.0M
Other Receivables $5.900M $8.959M
Total Short-Term Assets $349.3M $571.7M
YoY Change -38.87% 9.37%
LONG-TERM ASSETS
Property, Plant & Equipment $89.67M $93.27M
YoY Change -28.62% -31.69%
Goodwill $821.0M $793.6M
YoY Change 3.71% -0.37%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.053M $10.49M
YoY Change -49.76% -49.31%
Total Long-Term Assets $1.280B $1.266B
YoY Change -5.21% -8.79%
TOTAL ASSETS
Total Short-Term Assets $349.3M $571.7M
Total Long-Term Assets $1.280B $1.266B
Total Assets $1.629B $1.838B
YoY Change -15.22% -3.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.95M $51.93M
YoY Change 7.02% 4.84%
Accrued Expenses $16.50M $15.66M
YoY Change -7.67% -11.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $94.78M $90.11M
YoY Change -6.74% -11.17%
LONG-TERM LIABILITIES
Long-Term Debt $558.0M $557.6M
YoY Change 0.33% 0.33%
Other Long-Term Liabilities $2.591M $3.012M
YoY Change -21.86% -2.96%
Total Long-Term Liabilities $560.6M $560.6M
YoY Change 0.2% 0.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.78M $90.11M
Total Long-Term Liabilities $560.6M $560.6M
Total Liabilities $741.4M $744.0M
YoY Change -2.69% -2.05%
SHAREHOLDERS EQUITY
Retained Earnings -$61.35M -$68.51M
YoY Change -669.73% 1534.26%
Common Stock $972.2M $1.184B
YoY Change -17.18% 1.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $888.0M $1.094B
YoY Change
Total Liabilities & Shareholders Equity $1.629B $1.838B
YoY Change -15.22% -3.82%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $10.77M $9.782M
YoY Change -37.4% -31.29%
Depreciation, Depletion And Amortization $16.90M $16.60M
YoY Change -4.52% -4.05%
Cash From Operating Activities $34.40M $33.12M
YoY Change -25.91% -39.59%
INVESTING ACTIVITIES
Capital Expenditures $7.500M $7.024M
YoY Change -207.87% -189.49%
Acquisitions
YoY Change
Other Investing Activities -$41.20M -$211.0K
YoY Change -5315.19% 402.38%
Cash From Investing Activities -$48.60M -$7.235M
YoY Change 688.58% -8.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -219.6M -26.82M
YoY Change 21556.8% -11915.42%
NET CHANGE
Cash From Operating Activities 34.40M 33.12M
Cash From Investing Activities -48.60M -7.235M
Cash From Financing Activities -219.6M -26.82M
Net Change In Cash -233.8M -933.0K
YoY Change -695.62% -101.98%
FREE CASH FLOW
Cash From Operating Activities $34.40M $33.12M
Capital Expenditures $7.500M $7.024M
Free Cash Flow $26.90M $26.10M
YoY Change -49.61% -58.36%

Facts In Submission

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3773000
us-gaap Share Based Compensation
ShareBasedCompensation
5659000
us-gaap Share Based Compensation
ShareBasedCompensation
3802000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-37000
fa Gain Loss On Disposal Of Fixed Assets And Impairment Of Rou Assets
GainLossOnDisposalOfFixedAssetsAndImpairmentOfRouAssets
-2125000
fa Gain Loss On Disposal Of Fixed Assets And Impairment Of Rou Assets
GainLossOnDisposalOfFixedAssetsAndImpairmentOfRouAssets
-162000
fa Gain Loss Due To Change In Fair Value Of Interest Rate Swaps
GainLossDueToChangeInFairValueOfInterestRateSwaps
1235000
fa Gain Loss Due To Change In Fair Value Of Interest Rate Swaps
GainLossDueToChangeInFairValueOfInterestRateSwaps
7378000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4034000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11199000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5335000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-38000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3035000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2748000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8847000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8780000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
248000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-272000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-460000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-596000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
304000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
557000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-6047000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
154000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
71722000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
96412000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
19044000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
688000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5165000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
12434000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
10236000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
196000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-82000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13318000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34363000
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
52334000
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
0
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
74000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
459000
fa Payments On Deferred Purchase Agreements
PaymentsOnDeferredPurchaseAgreements
469000
fa Payments On Deferred Purchase Agreements
PaymentsOnDeferredPurchaseAgreements
526000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2104000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1270000
fa Net Settlement Of Share Based Compensation Plan Awards
NetSettlementOfShareBasedCompensationPlanAwards
-211000
fa Net Settlement Of Share Based Compensation Plan Awards
NetSettlementOfShareBasedCompensationPlanAwards
-98000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50984000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
187000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-30000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2546000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7390000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
59690000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
391796000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
292790000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
399186000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
352480000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13797000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6181000
us-gaap Interest Paid Net
InterestPaidNet
21933000
us-gaap Interest Paid Net
InterestPaidNet
10191000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
73000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
23000
fa Excise Taxes On Share Repurchases Incurred But Not Paid
ExciseTaxesOnShareRepurchasesIncurredButNotPaid
522000
fa Excise Taxes On Share Repurchases Incurred But Not Paid
ExciseTaxesOnShareRepurchasesIncurredButNotPaid
0
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1126618000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2058000
CY2023Q1 fa Share Repurchases
ShareRepurchases
-25517000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1399000
CY2023Q1 fa Additional Paid In Capital Withheld For Tax Obligations And Net Settlement Of Stock Option Exercise
AdditionalPaidInCapitalWithheldForTaxObligationsAndNetSettlementOfStockOptionExercise
-25000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
869000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1925000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1107327000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3601000
CY2023Q2 fa Share Repurchases
ShareRepurchases
-27339000
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
705000
CY2023Q2 fa Additional Paid In Capital Withheld For Tax Obligations And Net Settlement Of Stock Option Exercise
AdditionalPaidInCapitalWithheldForTaxObligationsAndNetSettlementOfStockOptionExercise
-186000
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
218000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
9782000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1094108000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1132238000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1859000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
547000
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1517000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
13013000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1146140000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1943000
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
723000
CY2022Q2 fa Additional Paid In Capital Withheld For Tax Obligations And Net Settlement Of Stock Option Exercise
AdditionalPaidInCapitalWithheldForTaxObligationsAndNetSettlementOfStockOptionExercise
-98000
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11319000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
14236000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1151625000
us-gaap Cost Of Revenue
CostOfRevenue
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> — The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Changes in these estimates and assumptions may have a material impact on the condensed consolidated financial statements and accompanying notes.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Significant estimates, judgments, and assumptions, include, but are not limited to, the determination of the fair value and useful lives of assets acquired and liabilities assumed through business combinations, revenue recognition, capitalized software, and income tax liabilities and assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from these estimates.</span></p>
CY2023Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
700000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1800000
CY2023Q2 fa Write Down Of Abandoned Property And Equipment
WriteDownOfAbandonedPropertyAndEquipment
200000
fa Write Down Of Abandoned Property And Equipment
WriteDownOfAbandonedPropertyAndEquipment
300000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Concentrations of Credit Risk — </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. Cash is deposited with major financial institutions and, at times, such balances with each financial institution may be in excess of insured limits. The Company has not experienced, and does not anticipate, any losses with respect to its cash deposits. Accounts receivable represent credit granted to customers for services provided. The Company performs ongoing credit evaluations of its customers’ financial condition and generally does not require collateral on accounts receivable. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company had </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer which represented approximately </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">11</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of its consolidated revenues during the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three and six months ended June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, respectively. The Company did </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">t have any customers which represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% or more of consolidated revenues for the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three and six months ended June 30, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. Additionally, the Company did </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">t have any customers which represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% or more of consolidated accounts receivable, net for any period presented.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3802000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.3743
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
326127000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
313971000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
232862000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
200442000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
93265000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
113529000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16600000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17300000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33100000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
34100000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.034
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y8M1D
CY2023Q2 fa Estimated Fair Value Of The Underlying Unit
EstimatedFairValueOfTheUnderlyingUnit
12.61
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
45800000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y7M6D
fa Employee Stock Purchase Plan Percent
EmployeeStockPurchasePlanPercent
0.15
CY2023Q2 fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
200000
CY2022Q2 fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
100000
CY2022Q4 us-gaap Goodwill
Goodwill
793080000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
502000
CY2023Q2 us-gaap Goodwill
Goodwill
793582000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
610013000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
243448000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
366565000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
609721000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
212545000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
397176000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15400000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
34300000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7148000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
8075000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
557576000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
556649000
fa Description Of Borrowing Capacity Not Subject To Net Leverage Ratio Covenant
DescriptionOfBorrowingCapacityNotSubjectToNetLeverageRatioCovenant
In the event the Company’s outstanding indebtedness under the Revolver exceeds 35% of the aggregate principal amount of the revolving commitments then in effect, it is required to maintain a consolidated first lien leverage ratio no greater than 7.75 to 1.00.
fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
400000
fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
200000
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.289
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.284
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.276
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.276
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
7400000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
6500000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1300000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1100000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3601000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1943000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5659000
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2024046
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
3895737
CY2023Q2 fa Stock Repurchase Price Per Share
StockRepurchasePricePerShare
13.37
fa Stock Repurchase Price Per Share
StockRepurchasePricePerShare
13.43
CY2023Q2 fa Stock Repurchase Cost Total
StockRepurchaseCostTotal
27026000
fa Stock Repurchase Cost Total
StockRepurchaseCostTotal
52252000
CY2023Q2 fa Additional Associated Cost
AdditionalAssociatedCost
311000
fa Additional Associated Cost
AdditionalAssociatedCost
600000
CY2023Q2 fa Share Repurchase Cost Recorded To Accumulated Defecit
ShareRepurchaseCostRecordedToAccumulatedDefecit
27337000
fa Share Repurchase Cost Recorded To Accumulated Defecit
ShareRepurchaseCostRecordedToAccumulatedDefecit
52852000
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q2 fa Indemnity Liability
IndemnityLiability
4900000
CY2022Q4 fa Indemnity Liability
IndemnityLiability
4400000
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.07
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.09
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.08
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.18
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.07
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.09
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.08
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.18
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
9782000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
14236000
us-gaap Net Income Loss
NetIncomeLoss
11707000
us-gaap Net Income Loss
NetIncomeLoss
27249000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144112028
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150748211
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144982459
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150644034
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1226892
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1612139
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1912331
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1717754
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145338920
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152360350
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146894790
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152361788
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4961441
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2533594
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4681847
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2292520
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
185315000
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
201561000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
360835000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
391442000
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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