First Advantage (FA) Citi’s 2026 Global TMT Conference summary

Business performance and growth drivers

• Consistent results over recent quarters, with base growth turning positive and retention above 96%.

• Upsell, cross-sell, and new logo momentum contributed 17% growth in Q4, with double-digit gains continuing in Q1 and Q2.

• Diversified verticals and geographies, with strong performance in retail, transportation, industrials, and international markets.

• Core base growth at 3.5% in Q2, above the typical 2-3% range, driven by stabilization and strength across verticals.

• S&P SmallCap 600 inclusion and leverage reduction to 3.7x highlight improved financial health.

Product innovation and market trends

• Package density remains the top upsell driver, with 89% of surveyed customers planning to increase it over the next two years.

• Digital Identity is now included in every background check, leveraging proprietary biometric and biographic data for differentiation.

• Global expansion is a significant growth lever, with demand from both U.S.-based and international organizations.

• New logo wins create further upsell and cross-sell opportunities, fueling a self-reinforcing growth cycle.

Technology and operational efficiency

• AI initiatives include bringing customer care chat in-house, improving satisfaction and reducing costs.

• Hybrid approach to AI: using both proprietary and third-party tools for fulfillment, sales enablement, and product development.

• Regulatory compliance, especially FCRA, shapes the pace and scope of AI automation in workflows.

• Implementation cycles for AI-enabled solutions are lengthening, but enterprise bookings and pipeline remain strong.