HireRight Results Presentation Deck slide image

HireRight Results Presentation Deck

Q2 2023 Highlights - Focus on Margin Improvement Revenue $192.1 million Adjusted EBITDA (¹) $52.7 million Adjusted NI(¹) $25.5 million Balance Sheet/ Liquidity Capital Allocation (1) See Reference / Definitions @ 2023 HireRight. All Rights Reserved ■ ■ ■ Down ~14% vs. Q2 22 primarily due to reduced or deferred hiring patterns Gross Retention 97.4% across existing customers Adjusted EBITDA Margin grew over 300 bps to 27.4% due to improved operating cost structure Restructuring plan focused on optimizing long term margins ~$6 million decline vs Q2 22 driven primarily by lower operating profit on lower revenue as well as $6.8 million of higher net interest expense due to rising rates on floating debt Net leverage ratio 3.5x vs. 3.1x at Q2 2022 $77.5 million of available unrestricted cash, ~$220 million total liquidity Unlevered 6 months Free Cash Flow of $34.1 million decreased $10.5 million due to lower net income Completed two strategic investments - complementary to product and geographic footprint Completed initial $100M share repurchase program - Announced an incremental $25M program 3 HIRE RIGHT
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