$FA
FIRST ADVANTAGE CORP

2024 Q3 Form 10-Q Financial Statement

#000095017024093999 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $199.1M $184.5M
YoY Change -0.62% -0.41%
Cost Of Revenue $100.9M $92.35M
YoY Change -0.51% -0.7%
Gross Profit $98.24M $92.20M
YoY Change -0.77% -0.13%
Gross Profit Margin 49.34% 49.96%
Selling, General & Admin $46.05M $38.64M
YoY Change 52.4% 28.88%
% of Gross Profit 46.88% 41.91%
Research & Development $12.91M $13.68M
YoY Change -1.51% 8.18%
% of Gross Profit 13.14% 14.83%
Depreciation & Amortization $15.90M $15.70M
YoY Change -5.92% -5.42%
% of Gross Profit 16.18% 17.03%
Operating Expenses $190.0M $174.6M
YoY Change 7.26% 4.15%
Operating Profit $9.113M $9.903M
YoY Change -60.74% -43.85%
Interest Expense -$17.19M -$7.353M
YoY Change 126.2% 89.17%
% of Operating Profit -188.64% -74.25%
Other Income/Expense, Net -$17.19M -$7.353M
YoY Change 127.48% 89.17%
Pretax Income -$8.078M $2.550M
YoY Change -151.6% -81.45%
Income Tax $782.0K $689.0K
% Of Pretax Income 27.02%
Net Earnings -$8.860M $1.861M
YoY Change -182.24% -80.98%
Net Earnings / Revenue -4.45% 1.01%
Basic Earnings Per Share -$0.06 $0.01
Diluted Earnings Per Share -$0.06 $0.01
COMMON SHARES
Basic Shares Outstanding 145.4M 145.2M
Diluted Shares Outstanding 144.1M 145.9M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $307.4M $269.6M
YoY Change 84.07% -32.81%
Cash & Equivalents $307.4M $269.6M
Short-Term Investments
Other Short-Term Assets $13.75M $19.79M
YoY Change -29.1% -8.4%
Inventory
Prepaid Expenses
Receivables $143.0M $130.8M
Other Receivables $2.808M $7.101M
Total Short-Term Assets $467.0M $427.2M
YoY Change 33.68% -25.28%
LONG-TERM ASSETS
Property, Plant & Equipment $55.40M $63.46M
YoY Change -38.22% -31.95%
Goodwill $822.3M $819.1M
YoY Change 0.16% 3.22%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.598M $8.268M
YoY Change -16.07% -21.19%
Total Long-Term Assets $1.190B $1.209B
YoY Change -7.03% -4.55%
TOTAL ASSETS
Total Short-Term Assets $467.0M $427.2M
Total Long-Term Assets $1.190B $1.209B
Total Assets $1.657B $1.636B
YoY Change 1.7% -11.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.11M $55.49M
YoY Change 27.08% 6.85%
Accrued Expenses $22.96M $20.64M
YoY Change 39.15% 31.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $121.4M $99.10M
YoY Change 28.03% 9.98%
LONG-TERM LIABILITIES
Long-Term Debt $559.8M $559.4M
YoY Change 0.33% 0.32%
Other Long-Term Liabilities $2.703M $2.697M
YoY Change 4.32% -10.46%
Total Long-Term Liabilities $562.5M $562.1M
YoY Change 0.35% 0.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $121.4M $99.10M
Total Long-Term Liabilities $562.5M $562.1M
Total Liabilities $736.4M $722.6M
YoY Change -0.68% -2.87%
SHAREHOLDERS EQUITY
Retained Earnings -$59.44M -$50.59M
YoY Change -3.12% -26.15%
Common Stock $998.9M $988.1M
YoY Change 2.74% -16.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $920.7M $913.3M
YoY Change
Total Liabilities & Shareholders Equity $1.657B $1.636B
YoY Change 1.7% -11.0%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$8.860M $1.861M
YoY Change -182.24% -80.98%
Depreciation, Depletion And Amortization $15.90M $15.70M
YoY Change -5.92% -5.42%
Cash From Operating Activities $43.49M $32.04M
YoY Change 26.42% -3.26%
INVESTING ACTIVITIES
Capital Expenditures $7.906M $7.408M
YoY Change 5.41% 5.47%
Acquisitions
YoY Change
Other Investing Activities $2.000K $627.0K
YoY Change -100.0% -397.16%
Cash From Investing Activities -$7.904M -$6.781M
YoY Change -83.74% -6.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 942.0K -476.0K
YoY Change -100.43% -98.23%
NET CHANGE
Cash From Operating Activities 43.49M 32.04M
Cash From Investing Activities -7.904M -6.781M
Cash From Financing Activities 942.0K -476.0K
Net Change In Cash 36.53M 24.79M
YoY Change -115.62% -2756.59%
FREE CASH FLOW
Cash From Operating Activities $43.49M $32.04M
Capital Expenditures $7.906M $7.408M
Free Cash Flow $35.58M $24.64M
YoY Change 32.28% -5.61%

Facts In Submission

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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
248000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-467000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-460000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-626000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
304000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-3348000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-6047000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
70372000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
71722000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
12894000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
12434000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
970000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
688000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-52000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
196000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13812000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13318000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1197000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2104000
fa Payments On Deferred Purchase Agreements
PaymentsOnDeferredPurchaseAgreements
469000
fa Payments On Deferred Purchase Agreements
PaymentsOnDeferredPurchaseAgreements
469000
fa Net Settlement Of Share Based Compensation Plan Awards
NetSettlementOfShareBasedCompensationPlanAwards
-311000
fa Net Settlement Of Share Based Compensation Plan Awards
NetSettlementOfShareBasedCompensationPlanAwards
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fa Cash Dividends Paid
CashDividendsPaid
204000
fa Cash Dividends Paid
CashDividendsPaid
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us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
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us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
74000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
213000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50984000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1036000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-30000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
55737000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7390000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213912000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
391796000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
269649000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
399186000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
17158000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13797000
us-gaap Interest Paid Net
InterestPaidNet
23887000
us-gaap Interest Paid Net
InterestPaidNet
21933000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1030000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
73000
fa Non Cash Property And Equipment Additions
NonCashPropertyAndEquipmentAdditions
540000
fa Non Cash Property And Equipment Additions
NonCashPropertyAndEquipmentAdditions
0
fa Excise Taxes On Share Repurchases Incurred But Not Paid
ExciseTaxesOnShareRepurchasesIncurredButNotPaid
0
fa Excise Taxes On Share Repurchases Incurred But Not Paid
ExciseTaxesOnShareRepurchasesIncurredButNotPaid
522000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
906733000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4751000
CY2024Q1 fa Forfeitures Of Previously Declared Cash Dividends
ForfeituresOfPreviouslyDeclaredCashDividends
6000
CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
976000
CY2024Q1 fa Additional Paid In Capital Withheld For Tax Obligations And Net Settlement Of Stock Option Exercise
AdditionalPaidInCapitalWithheldForTaxObligationsAndNetSettlementOfStockOptionExercise
-41000
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1773000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-2908000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
907744000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5048000
CY2024Q2 fa Forfeitures Of Previously Declared Cash Dividends
ForfeituresOfPreviouslyDeclaredCashDividends
5000
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
221000
CY2024Q2 fa Additional Paid In Capital Withheld For Tax Obligations And Net Settlement Of Stock Option Exercise
AdditionalPaidInCapitalWithheldForTaxObligationsAndNetSettlementOfStockOptionExercise
-270000
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1298000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
1861000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
913311000
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 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:9pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:9pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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, goodwill impairment, revenue recognition, capitalized software, assumptions used for purposes of determining share-based compensation, 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>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:9pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentrations of Credit Risk — </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer which represented approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">11</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of its consolidated revenues during the </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three and six months ended June 30, 2024.</span><span style="color:#ff0000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer which represented approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">11</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of its consolidated revenues during the three and six months ended June 30, 2023, respectively.</span><span style="color:#ff0000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Additionally, the Company did </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">t have any customers which represented </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% or more of its consolidated accounts receivable, net for any period presented.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:9pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has entered into interest rate derivative agreements with a counterparty bank to reduce its exposure to interest rate volatility. The Company has determined the counterparty bank to be a high credit quality institution. The Company does not enter into financial instruments for trading or speculative purposes.</span></p>
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
363071000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
348060000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
299608000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
268619000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
63463000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79441000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15700000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16600000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31300000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33100000
CY2023Q4 us-gaap Goodwill
Goodwill
820654000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-368000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-1150000
CY2024Q2 us-gaap Goodwill
Goodwill
819136000
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
617925000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
302939000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
314986000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
618826000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
274812000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
344014000
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14300000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30800000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5352000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6268000
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
559372000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
558456000
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.
CY2024Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
150000000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.27
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.40
CY2024Q2 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 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
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
5700000
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4800000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2200000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1900000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5048000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3601000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9799000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5659000
CY2023Q2 fa Impact Of Divided To Stock Option Awards And Espp Purchases
ImpactOfDividedToStockOptionAwardsAndESPPPurchases
1.5
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
32200000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y2M12D
fa Employee Stock Purchase Plan Percent
EmployeeStockPurchasePlanPercent
0.15
CY2023Q2 fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
200000
CY2024Q2 fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
200000
fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
300000
fa Employee Stock Purchase Plan Expenses
EmployeeStockPurchasePlanExpenses
400000
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q2 fa Indemnity Liability
IndemnityLiability
4700000
CY2023Q4 fa Indemnity Liability
IndemnityLiability
5200000
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.01
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.07
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.01
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.08
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.01
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.07
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.01
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.08
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
1861000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
9782000
us-gaap Net Income Loss
NetIncomeLoss
-1047000
us-gaap Net Income Loss
NetIncomeLoss
11707000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143863667
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144112028
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143727612
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144982459
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1992445
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1226892
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1912331
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145856112
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145338920
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143727612
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146894790
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
901391
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4961441
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2974538
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4681847
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
184546000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
185315000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
353962000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
360835000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 fa Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q2 fa Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false

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0000950170-24-093999.txt Edgar Link pending
0000950170-24-093999-xbrl.zip Edgar Link pending
fa-20240630.htm Edgar Link pending
fa-20240630.xsd Edgar Link pending
fa-ex31_1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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