What move does the options market price into First Advantage's report?

Implied ±21.2%, either direction.

How often does First Advantage move more than the options market prices?

4 of the last 8 reports moved at least as far as the implied move.

FANasdaqServices-Computer Processing & Data Preparation

First Advantage Corp (FA) earnings date, market-implied expected move, and options open interest by expiry

22.48

+0.66 · +3.02%

post 23.00 +2.31%

After hours16:26 ETdelayed

Open22.57Volume1.2MMkt cap$3.7BP/E153.33EPS0.15

Day22.41 – 23.00100%52-wk8.82 – 25.1587%

First Advantage Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±21.2%implied · straddle

19.3229.73

spot 24.53exp Nov 20ATM strike 25ATM straddle 6.12IV 148%

Nov 4 closethin chain

Expected move

Inputs

Next report

Nov 5

before open · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

+17.32%

vs ±15.6% implied · ×1.11

shaded = implied · ▲▼ = realized

Aug 6 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+3.66%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

175 managers

Top fund weight

0.05%

FA weight · IWM

N-PORTJun 30 '26

3 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

First Advantage (FA) is expected to report on Nov 5 before open (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±16.1%
avg realized: ±13.7%

Nov 12 '24Nov 12 '24confirmed±23.3%▲+0.05%×0.00

Feb 27 '25Feb 27 '25confirmed±6.8%▼−12.46%×1.84

May 8 '25May 8 '25confirmed±9.8%▲+19.10%×1.95

Aug 7 '25Aug 7 '25confirmed±12.0%▲+7.96%×0.67

Q3 FY25Nov 6 '25confirmed±13.1%▲+6.73%×0.52

Q1 FY26Feb 26 '26confirmed±30.0%▲+22.79%×0.76

May 7 '26May 7 '26confirmed±18.5%▲+23.12%×1.25

Q2 FY26Aug 6 '26confirmed±15.6%▲+17.32%×1.11

quarterimplied−30%0+30%realized×

Q2 FY26±15.6%▲+17.32%×1.11

May '26±18.5%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Oct 28 close

0.03OI · 4 expiries · Oct 28 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

7+133%Nov 2016d209+77%

1—Dec 1844d0.205—0.20

30%Jan 1572d0.021660%0.02

8—Apr 16163d0.07119—0.07

ExpiryPutsCallsP/C

Nov 2016d7+133%209+77%0.03

Dec 1844d1—5—0.20

Jan 1572d30%1660%0.02

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±21.2%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

3.77%as filednet margin · revenue +16.50% QoQ · +14.88% YoY

Revenue

$449M+16.50% QoQ

Gross profit

$449M+16.50% QoQ

100.00% margin

Operating income

$57M+70.12% QoQ

12.71% margin

Pre-tax income

$25M+658.12% QoQ

Net income

$17M+680.17% QoQ

3.77% margin

Operating expenses

$392M+11.39% QoQ

Other operating $245M

Depreciation $62M

SG&A $58M

Other operating $27M

Other expense

$32M

Tax

$8M+616.09% QoQ

Revenue$449M+16.50%

Gross profit

$449M+16.50%

100.00% margin

Operating income

$57M+70.12%

12.71% margin

Pre-tax income

$25M+658.12%

Net income

$17M+680.17%

3.77% margin

Cost of revenue

Operating expenses

$392M+11.39%

Other operating $245M

Depreciation $62M

SG&A $58M

Other expense

$32M

Tax$8M+616.09%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:15 ET

Intraday

Event sensitivity

CPI ×1.76· ±3.3% vs ±1.9% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.3%3 of 10×1.76

PCEpersonal income & outlays±2.5%10 of 19×1.32

GDPgross domestic product±2.2%8 of 19×1.18

NFPjobs report±1.9%5 of 10×1.00

PPIproducer prices±1.8%6 of 10×0.97

FOMCrate decision±1.6%11 of 24×0.87

CPROFcorporate profits±1.2%6 of 12×0.63

Bar = avg |move| to ±4% · tick = ±1.9% avg day · ×base = |move| ÷ ±1.9% · min 6 releases

Earnings history

EPS 0.10 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 6 '26 · confirmed	0.10	—
Q1 FY26	Feb 26 '26 · confirmed	0.01	—
Q3 FY25	Nov 6 '25 · confirmed	0.01	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod