HireRight Results Presentation Deck slide image

HireRight Results Presentation Deck

Q3 2023 Highlights - Focus on Margin Improvement Revenue $188.3 million Adjusted EBITDA (¹) $52.1 million Adjusted NI(¹) $24.6 million Balance Sheet/ Liquidity Capital Allocation (1) See Reference / Definitions @ 2023 Hire Right. All Rights Reserved ■ ■ ■ ■ ■ ▬ ■ ■ ■ Down ~10.5% vs. Q3 22 primarily due to reduced or deferred hiring patterns 9% growth from Upsells and New Logos Strong Gross Retention of 96.8% across existing customers Down $1.9 million vs. PY despite lower revenues Adjusted EBITDA Margin grew over 200 bps to 27.7% due to improved delivery cost of service Restructuring plan contributing to margin growth ~$5.2 million decline vs PY driven by lower operating income and higher interest rates on our debt Net leverage ratio 3.7x vs. 2.9x at Q3 2022 $103 million of available unrestricted cash, $262 million total liquidity Unlevered 9 months Free Cash Flow of $95.8 million essentially flat to prior year Refinanced Term Loan increasing principal to $750M and extending the maturity to 2030 Added incremental $15M to Revolver Facility to $160M - No outstanding borrowings since Q4 21 Repurchased $24M shares in the quarter - Announced an incremental $25 million program in September 3 HIRE RIGHT
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