FA - Earnings call transcript Q1 2024 | First Advantage Corporation

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Operator

Good day, everyone. My name is Todd and I will be your conference operator today. I would like to welcome you to the First Advantage First Quarter 2024 Earnings Conference Call and Webcast. Hosting the call today from First Advantage is Stephanie Gorman, Vice President of Investor Relations. [Operator Instructions] Please note today's event is being recorded.It is now my pleasure to turn the call over to Stephanie Gorman.

begin. may You

Stephanie Gorman

today press remind to take Staples, Financial discussion our not today's Good statements. Chief and first are press I of on expressed Form for website.I'm Todd. I to comparable the begin with the Form David obligation with may detail Investors XXXX our statements. like and this periodic to remarks, of on webcast the available everyone Officer. Relations forward-looking SEC. future non-GAAP Such and SEC the joined and welcome of present accompany be Investor conference measures. of call presentation our we our Thank measures discussion. our the factors XX-K financial now we including variety hand filings the from Reconciliations be today's Relations and SEC, XXXX morning, filed undertake questions. our a in without in updated the materially prepared available to to our factors.These forward-looking financial Chief earnings over appear by Scott. our would Advantage's we This results financial more forward-looking earnings our of quarter prepared be our in find will and quarter release that with website, our Such being forward-looking factors their the our not are we and include extent available conference First do will our remarks, will today slide to our also the and to XX-Q Scott GAAP to which will from time directly will presentation, recorded in XXXX After statements update to Officer; you, any Actual statements efforts may call is filings you your time first call, everyone earnings release Executive those will most call. Throughout guarantees are Gamsey, website.Before implied discuss unreasonable Investor non-GAAP in differ measures on section due to replay or In performance. discussed for

Scott Staples

update and our everyone. exciting you David in overview and team our call. has an first agreement far the dedication am additional Thank you, strategic provide Stephanie since Thank Sterling our results results, and of year.Turning quarter the for on an on dive first moving a our to the months Slide and joining an what into provide of X. will It announcing incredibly Sterling. results our our acquire morning, productive on thus I our quarter good color morning, for to for initiatives acquisition. forward.This will been few and proud has I expectations everything accomplished keeping our then deeper

a vertical the year For financial results of confidence major transportation, to reaffirming which today. continue or the our perspective, year-over-year.Importantly, saw XXXX a additional we with delivered industrials, including from customer health maintain earnings in volumes first on strong giving guidance, we quarter, communicated down we From achieving in us we last at remaining the X order retention increased verticals care, XX%. and hospitality staffing rate verticals, approximately our above what first full call, are quarter, we

our successfully renewed. fact, largest have XXXX renewals already for X In top

track have indicators to attrition changes in in year-over-year, sensitive base be continued growth most our months. stabilizing new still rates are to clients.While shown the macro mix of continues down while to Our of that recent line revenue up-sell, logos cross-sell, environment with they algorithm, more growth historical and in macro and our we signs perform our

growth of to the significant rate X% our negative on me reminder, organic X% a you to base update continues our normalized performance progress compared growth target team initiatives. experiencing.Let have base of we now long-term XX% been X% a our revenue As to to strategic the on anticipates make

of algorithms to to drive databases, We greater AI, as across high-quality data the innovative have deliver with of models and technology we our customers. and poised as building to philosophy well our insurgence for portfolio proprietary the are our value accelerate long innovation subscribed Gen business.Now even

initial in screen and cycle.Additionally, AI fraud applicant We Canada. market profile user place, consistent information screening our that access new fraud identity to to next-generation have of leveraging for to errors By are our intelligence complement other featuring a using the solutions. submitted our the our interface U.S. flag excited an products customers inconsistencies a technology help onboarding prevention, applicant RightID we portal, with applicant initiatives roll from human-in-the-loop with details. upstream to moving potential RightID deliver a to out pre-hire screen, Gen digital we can have allows These alert products in to complements enhance continue hire. next-gen fraud the have several tax to us Employers seen and including the identity one products process.This advantage as expansion specifically U.K., success announced faster API-first processes, experience applicant recognize information credit and background the designed India, our hire in experience.Our solution the and to before and to customers we leverage Australia potential identity step in the thus in proprietary background

can help fees response scale investments verifications. quickly SmartHub, click employment and to program, in times call our criminal optimal increase For through certain to chat for verification And adoption criminal see third-party efficiency, our the source determine we for continue increased customer for pass-through or U.S. expect related screening.We up changes. AI can customers care the to down turnaround reduce our our of data volume our each also to consistency of example, support and in which data we customer

perspectives April.This XXX million our in just Trends responses based which customers. in highlighted solutions All help data are records Report, worldwide and over customers screening screening survey of Global of released their our on provides anonymized our and hundreds report support our from priorities, annual

past for years market.Notably, screening important seen alongside risk the attendance. interest screening which row, conference, and was annual base, the density.Additionally, our background in highlight increasing factor a as in of I been across overall held managing decision-making part most up-sell ultimately change over consistently Trends us an record driven in background April to process indicates cost speed. ranked support and have for opportunities customer labor have Global package in Collaborate, background evolve results X We global the as second and increased that has for informed the programs screening want year This publishing hiring cross-sell Report and annual our our the with and trends

customers, As the discuss new its prospects, thought only kind, leaders to brings business and Collaborate of background and screening together partners timely practices. relevant trends, and user conference best technologies

new as solutions led second engagement.Additionally, industry resources.Turning Management and highly and Society Taylor conference, and and customer HR. had and to we to were our he on where embracing year Jr. keynote evolving leading in AI fantastic a the Resources President speaker, dynamic session Slide regarded human is as Mr. Taylor discussed CEO Human the is products have X. a for expert of pleased for the we C. us our a Johnny and During join

as update are me provide planned. acquisition. now Preparations an the for Sterling Let on progressing the transaction

verification we time information closing operations and with plans closing detailed an other have will view unlock the management and approvals, up-sell financial faster.First customers expected risk, retail that to and Sterling e-commerce. across our point, product expected quarter committee diversify from end our thereof, the developing as limited to screening, largest Advantage's of which offerings teams they The and verticals all has meet certain complementary strengthens Collectively, addition balances our verticals our mix pertaining for on customer product customary are value dedicated solutions for our are having customers the transaction.At third-party This Sterling's focus to services. on will leaders preparation for improve solutions of cross-sell and industrials process. and expectations. the functional We SEC, and identity with all enhance led in approximately by additional vertical a been and overlap as our of transportation, and and sizes there timing is across to April, fees. evolving are required geographies. subject high-quality focused is proposition highly pass-through we more still as departments to post-closing needs the closing the At conditions.Strategically, clearances help with to health hire First regulated opportunities have integration background filed cost-effective industry further smarter our benefit customer further this formed care, integration close changes their no and reduce onboard industries.Sterling's this and verticals the including industries, of options We including benefit win in Advantage's manage more our across of transaction S-X third regulatory XXXX, there the and and to

X.Xx in at which closing, closing approximately top our have costs, attrition, a preliminary portion seasonal identification the work synergies to amongst range the drive immediately to back build improved next-gen and we This overlap in synergies, the functions on long-term a million regard to both resource These will mix, to process.Additionally, remain and combined, actioned further digital rate as exposure development synergy end XX net $XX create expansion.Looking provide and have same We we executing and Advantage months will the us derisk diligence, resilient cost to help model. customers we synergies in a of our opportunity deeper upside our believe fulfillment including a contributing businesses, First months achieving through of automation. duplicate upon diversification.This for and at time, reduce and the to closing. XX we innovation no at of key enhance of closing be merging tech markets.Based half be X.Xx. customer planning pass-through post business, to presence and business that we found less will leverage transaction. third-party margin vertical integration in and and within the at The public will from within We anticipate resources to removing with costs upon identifying Sterling. international first efficiency, will company us significant revenue run function. back-office XX attractive enable the transaction applicant technology come areas experience anticipate anticipate complemented of more balanced post least more close reduce the which ultimately this concentration have local the confident expand certain more operational We our and AI, in merging potential transaction We also transaction opportunities will

bring net our closing EBITDA then run rate nearly of transaction, to sight XX to closing on to transaction within of the EBITDA profile. leverage toward months detail this immediately double We into of adjusted David leverage target range returning approximately our line revenue long-term and have we will the Xx. further will Xx go adjusted and X shortly.Upon net on ultimately

to customers after line generation.As growth, advance our call and quarter ongoing generate ahead, closing on drive rate benefit David We for rate and we at our expect and results. that strategic time run expect transaction and value will by deleveraging continue our accretion cash on to compounding synergies on achieving be first enabled combination integration, Overall, we acquisition to over balance turn basis will synergy and priorities teens capture growth focused free flow investors, and long-term deleveraging double-digit top creation.I through details EPS the strong significant priorities EPS accelerate our our the now strategic the accretive sheet. our over a the and look customers, will a of more successful

David Gamsey

Scott Thank morning, you, everyone. good and

to quarter Slide first Turning X. on our results

prior of the Our $XXX.X results. Currency impact nearly no year. on had a first revenues decrease quarter were million, X.X% from

cross-sell.In up-sell, from XX% year, just $XXX Infinite prior weakness down $XX and revenues For by offset XX% from international our revenues the driven International growth ID strength were million substantially prior revenues be million base to in of of revenues contributed were base continue consolidated XX% new segment, Macro $X.X factors quarter, revenues the segment, our Americas by headwind. X% consolidated business or down a primarily impacting year. the and or million. In approximately of of

over annual first the adjusted EBITDA $XX nearly which margin performance last million historical EBITDA our our XX.X% margin quarter of EBITDA lowest an a of EBITDA quarter was XX.X%, at the typically For the trends.As with compounded company, rate quarter first our aligns reminder, adjusted X adjusted a LTM and the growth Adjusted basis year. grown total has was years. on is

growth acquisition-related Our back tax are $XX.X is million that customer and and rate contributed we long-term supports Sterling Revenue control and in capital LTM adjusted approximately EPS has can for net the target. Slide $X.X Adjusted been was our QX. after remainder X XX, GAAP see and declined our and million base. performance remains compounded on XX. added expectations X.X% an grown costs that and last revenue $XX with We largely contributed X.X% future we Slide diluted driven see or by allocation and improving attrition revenue growth income XX%.On delivering by to the is annual our we of anticipate adjusted consolidated what on variation additional at Base net which sheet on rate to will historical on demonstrates cross-sell, revenues growth customer from QX. with $X.X million years was new the a performance to Slide now above cross-sell logos you XX.X% consistent base basis of Adjusted Revenues XX.X%. you effective the quarter.On in in and the XX% QX.New for algorithm, up-sell growth logos an can our of on based our basis. have basis our balance historical was or a being year.Turning the million $X.X throughout or performance our has and million. managing on algorithm over was that long-term up-sell, in loss X% XX, growth target an our million $X.XX $XX.X

For cash $XX strong operating generated the first million. quarter, we flows of

and software development and the cash property During $X equipment quarter, of used for of we costs. capitalized million purchases

mentioned repurchases last cash. have share as we build As Sterling we the given we continue quarter, to suspended pending acquisition,

million integration, achieving focus approximately we of First raising of of and will fund new on Sterling the synergies billion $X.X to on deleveraging.In areas acquisition. our $XXX our of primary be on addition Advantage to debt, Our on closing transaction upon customers, existing we debt term anticipate the adjusted sheet close, billion million at approximately expect the in at considering leverage the of This net of X.Xx to approximately in $X results gross cash $X.XX X.Xx. billion to net debt range $XXX expected or debt close.Additionally, when EBITDA of approximately balance debt

the and from to and business.We years $XXX agreement, record $XXX maturity will closing financing managing upsize date of Xx additional As the liquidity our remain of part proven transaction the committed to of our to provide leverage target we our X revolver after our which million million long-term Xx. leverage extend track for we will to date have a of net

Over is a than as and in million delevered Xx announced businesses. private dividend the special to Xx X invested prior approximately from repurchasing Lake less after a acquisition.This acquiring million Silver years Sterling onetime we us, company also to paying shares, X the since in $XXX $XXX

run rate toward goal Xx approximately Our reduce XX EBITDA. of adjusted is to months leverage closing net within

be cost businesses, and XX. Our top continued growth strong generation.Now synergies high-margin efficiencies, line reaffirming are to combined moving XXXX path we cash annual productivity by Slide to driven of delever Today, flow the the our guidance. will

range X expect to results the quarter to the includes XXXX, adjusted or adjusted coming achieve first is well remain in anniversary $X we with of around similar positions our to this Our line our year expect approximately EBITDA which growth. Based months customer XXXX.For expectations the for the the year XX%. sequential million, still we retention growth million first midpoint and cycle of year midpoint to slightly expected $XXX revenues, in at in million expect This to us guidance full quarter-over-quarter acquisition.We as above performance year-over-year margins of targets. revenues EBITDA on positive million. full in We to ID, generate to in strong results over organic that revenues our related $XXX Infinite of revenue contribute historical of $XXX

logo growth, up-sell, of targets. and cross-sell and with expect trends continued historical execution also new We long-term consistent

full new benefit reflects the includes move of EPS reminder, It approximately through increases management million costs in approximately quarterly of at This midpoint line million. as XX% of adjusted At the of improvement adjusted includes annual in product, increases sales margins million We EBITDA disciplined XXXX. range we the adjusted plans income and sequential automation.As guidance adjusted maintain $X.XX.Looking strength incentive net in $XXX also EBITDA $XXX totaling top the investments of normalization million. adjusted wages, midpoint, expect year $XXX technology and phasing, of $XX of EBITDA we employee flexible approximately in and expect model, we investments in $X million. approximately our XXXX management and expect at cost to a to the and our

trend in relatively We of continued the weighted positive midpoint our expect base base We assumes second was in from down guidance to improve base QX.The in QX, though which down to flat negative QX, high-single-digits, year, mid- toward declines from expect the the quarter year-over-year with improving also turning revenues growth half in growth to macro-driven through overall sequentially still remaining second QX. more year, XX%. heavily toward positive with of the range negative

back continue line before we the as dedication their through we to me objectives in sentiment for quarter, remarks like in of Scott in for share progress to make let I EBITDA work to to further that, transaction.With expect second it our the year.In the adjusted improvement for open the and continue XX% we and of achieving We Scott's Sterling half our the thank closing and would margins second the for questions. resilience closing, approximately with team turn

Scott Staples

Thank David. you,

as automation, partnerships years evidenced learning, have the AI progress strategic machine tuck-in initiatives go-to-market strategic in acquisitions. investments tech our significant approach, made by enablement, and and several We on verticalized over last our

EBITDA flow to Sterling our line cash the the and our impressive for investments questions. creation acquisition better return we in open to serve shape through we and adjusted and forward customers.With the seeing significant step generation.The First that, to future value on of excited our flow playbook margin another is are will We continue are of our Advantage

Operator

Rosenbaum [Operator from Shlomo Instructions] Stifel. will question come with Our first

Shlomo Rosenbaum

First, I a lines little Scott, after just want you along little that. I that start improving slower? faster, bit with, have environment the to out bit then the follow-up And say a that one expected you is would

Scott Staples

say I'd Shlomo. we it's thought be. macro Yes, would standpoint, from where a exactly it

say it's say wouldn't would choppy So I I slower. or faster still macro. it's a

seeing we're for still our obviously, cautiousness our some But seeing higher, of results the are look customers quarter. at We out them.

hiring pretty overhiring, time. not hiring. is. it they're not is this So exactly would sort go of They're we're ahead happy where it of I are and And they but planned certainly as think we

Shlomo Rosenbaum

then just revenue, one And clearly obviously, the was guys Okay. the as their is morning, what expecting. but street this out very and the other same put you the results good EBITDA time Sterling below at was

give out the words, didn't and kind of quickly over leverage you your over Now them your have? to acquire it that being any that talk how little could that? you, cultures, you cutting over other on to operationally, migrating bit guidance information own the about the merging own take about how able then do scale also things sources a that.But structure, you think to you just of of to of kind cost anything to or you I cut really ask obviously, once kind in Sterling company, like does want long If and

Scott Staples

Yes.

public for under synergies we're those synergies how lot hood but part get the corporate where the really both get to close. close take which expect again, obviously script post-merger We But was but that we the that's excited today pretty duplicative automation.It's detailed and company yet and provide did approach we we're because you we some continue our about date. into to the about on obviously, can that. the closer line company really me there's a high-performing to I be cultures the at to -- point closer last earnings post and because starting time here as expenses, and in overall of synergies hard fast part get of coming doing and But So can't overhead as planning strategy specific organization. and get for we not did give mention like the a and We're into very are sorry, the leverage we also planning, eliminating sit though to not will that we're answer even we updates to confident number a differences, feeling culture. your integration.Shlomo, of companies together question, obviously X going stuff to

it merging track that it, that we're much there subtle concerns think plan I important this I in and lot seen at like anything a treat special have it's to our could it, you cultures we thing just will aligned And we the we we high-performance other the strategies. both and I integration it's some you're just you've when think very any point. -- a differences don't as think probably as PMI companies, go-to-market from So will Obviously, sure as else.So together. nail we communicate product be the easier on have culture on make X

that I at companies of the about out most and really I market. the the talking think, X -- in digital are there think this technology we were identification of, changes forefront the sort are

easier makes well. that as bit So a it

Operator

Markets. will come Ashish RBC with Sabadra Capital Our from next question

Ashish Sabadra

growing. have have you just on the And wondering I was seen verticals that are you just wondering I on sequential do you front the seeing April? fronts? in declining. mentioned, Have was indications I international if So that progress even But front. could wondering on XX% you seen that And verticals those what in have which comment been there? we the any that on then much decline. You the which visibility base front? What was have on -- any growth been mentioned early how what X you obviously

Scott Staples

Yes. Ashish. there. lot A Thanks,

your catch backwards work I question. maybe hopefully, So And it on all.

our some if not is and talking much. International obviously, in you the over bottoming always India and it's I are this XXXX, but previous half And that. and call that not to there we of were out on XX-plus India down, APAC QX has so. we is EMEA that.So performing, declines last -- year-on-year XX we we're to but percent. months APAC. or stability kind see in as earnings felt were recall, as, India of We're realize quarters of mentioned yes, anymore. for So down still starting we We about and been of the starting felt was really concerns We're think

So India improvement to some in think U.S. is see us what quarter. we're X% both starting and some gives down this was enthusiasm only also APAC.I the

to a about So it little well. And is would we're asked starting see bit what of we say, stability there April, in you with would and exactly I line as thought April be.

So from but verticals as question X are were they're around mentioned they're April. down there's financial as some but a services Obviously, no verticals.So was others, They still of much. not the then surprises notably most And the down much. just that up. we not first down, verticals down, part and still are your that few the certainly

there's a of paints that of brighter bit of all kind the caution still but little background. a obviously, of picture So lot us, a for in

Ashish Sabadra

great And we the could front. was think a That's can X X newer Gen if how AI bring about I on as those Thanks over the details new in? about technology next think these wondering, color. midterm, providing the efficiencies the front. that do I technologies on the you for quick follow-up the ask initiatives years, to on

Scott Staples

efficiencies, improvement. it's technologies I bring. quality that add new can Yes. And bullish only efficiencies also that would not we're No, very but the the it's on

for our mentioned increase the think actual I of of we also not but running just launched last is their call, an their -- see. only AI AI public whatever, we check, product efficiency. are process early And at increase you and available efficiency tool of And pilots background in to all this you use whatever I the know, we work AI for improve quality, public quality.As AI when operations.And in is And functional to it's a AI use a components in organizations multiple earnings ChatGPT fulfillment work. in at that put or helping multiple across actually you into so AI all are like our internal signs

AI work work HR of on team, we've So to internally gone AI to teams, sales private find to faster, basically in educating ways and to it's teams teams, cheaper. process our own our finance even the now how our at do created we're to better, tool and use our this marketing

of of the So background AI years, processing and a X-plus dramatic across the over the functions internal we'll we a debt effect our think next that have pretty effect.

Operator

will from with Our next question Steinerman JPMorgan. come Andrew

Andrew Steinerman

wanted for kind market get of U.S. screening a of to team I is sizing your doing sense market. the how

can Advantage market your as with market testing sizing? you ID included in How do First sizing what such are like mention you drug solutions approaching you If stuff what think are like market will and have criminal? for share and besides And post-merger Sterling?

Scott Staples

We third have been leveraging parties.

We haven't been doing the market sizing ourselves, Andrew.

consistent with have we're mean competitors. space. as there's really very a I numbers. it's this And been a a large billion $XX And seeing so many results and So leveraging you have multiple know, doing of space sort it's who pegged parties third we've sources that. industry been as TAM.So fragmented

the it's that really can we that those and loving they're to person hard work.And it's so say, consistent fairly that do hiring solution them. creation that nightmare sizing space take like really going accurate.The a and one measure so the in the But seeing it new that. camera hearing is they or fraud hired fraud and much are we're digital it's then discussions.Customers from is because equation so creation a same they shows do the it's they're really revenue identity very doesn't streams jobs something for haven't space. in new many of we market like they're really that we're really at home-based -- data ourselves, for, of interviewing digital are and really customers. so on recruiting third-party to identity that are the digital the have the identity out thing seem customer almost their over is up new The let's what doesn't person been that cycle, confident that people is pretty And the work stories, any Zoom we to stories able claiming the looked because rising but on So market not

an very not there's customer really official we're customer going sizing on, demand. So And sector market that good in and sector. driven but by conversations that seeing demand is

Operator

next from of will Our Balsky America. question Instructions] Bank [Operator with Heather come

Heather Balsky

close opportunity ask, talk well at third-party to ability your some your mentioned can opportunity costs. the using you the as as you And wanted you're own resources the longer about expense once curious have side on just internal reduce of of your once to if your pass-through about I'm organization? you a you kind you're I Sterling around the thoughts deal

Scott Staples

want you do one? David, that

David Gamsey

Sure. really multifaceted approach it's Heather, -- a they're that. to

are So costs. yes, third-party there

We leverage will pricing. more procurement to perspective get from able a favorable volume be to

be run public costs. own able third-party company to will and proprietary database.We verifications at also will be through looking our more other costs We insurance like

we're to look going to everything at So every expense. bottom, single top

we as be and get we We're it in that number we're we go said, to As go than think going we can it and can. million. as think can that get quickly $XX highly greater confident

Heather Balsky

that. And appreciate I follow-up. then just a

kind -- be their what us on Can key international providing Sterling's lay for their they're where some where business your mean about markets? you business. opportunities? then talked but I internationally we maybe might also You international new know And business, out is in or focused just there similarities of

Scott Staples

Yes.

we'll where very seem a to Australia.So again, weaknesses ours, extremely each a and as they focused And well a done also from we to at get as just look certain to approach. going in well organization. have regions. of and But that we're the makes weaknesses. not like differences strengths And product really what matter we'll on we've space like markets planning in to go-to-market much. we basically certain Obviously, Sterling and and in easy business they've standpoint, it's take to identical post-close their is almost a of gig But there's best-in-class organizations. have and have strengths of really closer will close internationally, start, not the it basically from about which lot which standpoint, the combining done that each party too is work footprint a to is very business through the international So synergies to

that's got or has the what So best to we're with. go going product whoever offering,

Operator

Our Nicholas Blair. with Andrew from next Instructions] [Operator William question comes

Andrew Nicholas

the earlier wanted I and follow gains. up AI around kind of on question efficiency to efforts

adopt to theme that is AI seems build center or cost. the as other be the products of internally people a of One things

kind impact incremental of doing the front private So even any is the those over margins? just efforts you're of bringing net-net to negative that kind improve tool curious all Or of to AI time? kind margins incremental of your AI that expected have if or that into work on around

Scott Staples

Yes.

So that we're is the is near-term doing budget. answer in everything

to things the probably certain of cost a more will developing like be be incurring you've as to yes, term, essentially costs we're any got efficiency, case question ability additional head and solution, certainly benefit that, business a for will but there So what and which that. areas to not it in behind the And the answered be count XXXX. quality, long I think the reduce we higher going to feel do we've planned definitely is

So each separate case. it as each we're project like business in product will certainly a offset.But taking

to that can we and business So benefit has have that and be track case-driven some that of doing milestones everything we defined measure. we're sort can

again, taking. years. we're business the And positive we approach a next think couple the impact that's there'll the to over be of So

Andrew Nicholas

follow-up. That's very maybe then And helpful. for my

customers any customer don't sort, just would curious chance thus to things announcement you Sterling have reception like has be if know I excitement, But Just to the your what that their helpful. of the far. with been of a to speak had you've concerns, customers. that come if curious any to

Scott Staples

speak customers. That's excited some we mean, ways, also -- for it's it. about They but I pretty customers are them. loud, any a our to nonevent their in not of Yes. can't

they're us, benefit out excited is suites April, will first which almost we could like our be the they mentioned and were obviously, event changing there to when also very First would when them, to reached was really feel had really Their going Their all want -- about even we it, really aren't for customer up they announced It any no don't large usual. not talked we in for it success and it things we us. up-sell, changing like through customers what that the it, to not customer obviously, Advantage and going the So platforms It's it's were aren't walked that, when by to see which proactively was collaboration customers. mentioned, But change. products team. changing. excited but out, to are reach them impact business as additions potentially, they But it's opens they them.So of customer be their show. product cross-sell although care Sterling excited there's our as them like -- to I about, and and

Operator

call At This At we no you time, lines. further for Thank Advantage in this quarter conference your questions this queue. participation. may a Have XXXX earnings today's you time, your day. first conclude disconnect webcast. and First have all wonderful will

First Advantage (FA) 9 May 242024 Q1 Earnings call transcript