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Dollar General: The Rural Retailer Playbook
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First Advantage
First Advantage (FA) investor relations material
First Advantage Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Delivered record Q4 and full-year 2025 results, with Q4 revenue up 12% year-over-year and adjusted diluted EPS up 67%, exceeding all updated guidance metrics.
Completed core integration of Sterling acquisition, realizing $55 million in run-rate synergies by year-end 2025 and maintaining high customer retention rates of 96-97%.
Announced $25 million voluntary debt prepayment and a new $100 million share repurchase authorization, totaling $95.5 million in cumulative debt repayments since the Sterling acquisition.
Maintained strong go-to-market momentum, with robust upsell, cross-sell, and new logo activity, and introduced 2026 guidance with continued top-line momentum and a two-year adjusted diluted EPS CAGR of 20% from 2024 to 2026 midpoint.
Introduced full year 2026 guidance, progressing toward 2028 long-term targets.
Financial highlights
Q4 2025 revenues reached $420 million (up 11.9% year-over-year), with adjusted EBITDA of $117 million (27.8% margin, up 16.8% year-over-year), and adjusted diluted EPS of $0.30 (up 66.7% year-over-year).
Full-year 2025 revenues were $1,574.4 million, with adjusted EBITDA of $441.4 million (28.0% margin) and adjusted diluted EPS of $1.04 (up 26.8% year-over-year).
Adjusted operating cash flows for 2025 were $231.9 million, up 41% year-over-year; cash balance at year-end was $240 million.
Q4 2025 net income was $3.5 million (0.8% margin); full-year net loss was $(34.8) million.
Outlook and guidance
2026 revenue guidance: $1,625–$1,700 million (3% to 8% growth); adjusted EBITDA: $460–$485 million (4% to 10% growth); adjusted diluted EPS: $1.15–$1.25 (11% to 20% growth).
Free cash flow expected in the range of $160–$190 million for 2026.
Base growth expected to remain modestly negative (0% to -2%) in 2026, with upside from go-to-market initiatives.
Margin expansion of 40 basis points expected at midpoint, with synergies and investments supporting future growth.
Reaffirmed 2028 long-term targets: $1.8–$2.0 billion revenue, $560–$630 million adjusted EBITDA, 31%–32% margin, $1.65–$2.00 adjusted diluted EPS.
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Next First Advantage earnings date
Q1 20267 May, 2026
First Advantage
Next First Advantage earnings date
Q1 20267 May, 2026
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Frequently asked questions
First Advantage Corporation is a U.S.-based company specializing in background screening and identity verification solutions. The company provides comprehensive services, including criminal record checks, employment verification, drug testing, and global screening services, to support hiring and workforce management processes. The company is headquartered in Atlanta, Georgia, and its shares are listed on the Nasdaq.
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