Welcome to our dedicated page for Sterling Check news (Ticker: STER), a resource for investors and traders seeking the latest updates and insights on Sterling Check stock.
Sterling Check Corp. (STER) provides essential background screening and identity verification services that power secure, compliant workplaces worldwide. This news hub offers investors and professionals direct access to official announcements, financial updates, and strategic developments from the industry-leading risk management provider.
Track critical updates including quarterly earnings reports, technology innovations in digital verification, regulatory compliance changes, and strategic partnerships. Our curated collection ensures timely access to information impacting STER's market position and service offerings.
Discover press releases detailing new client acquisitions, expansion of global screening capabilities, and advancements in AI-driven identity verification. The archive serves as a vital resource for understanding STER's role in shaping workforce safety standards and corporate due diligence practices.
Bookmark this page for streamlined monitoring of Sterling Check Corp's operational milestones and industry leadership in building trusted environments through tech-enabled compliance solutions.
Sterling Check Corp (NASDAQ: STER) reported Q2 2024 results with revenues increasing 5.3% year-over-year to $200.5 million. Organic constant currency revenue decreased 0.9%, while inorganic revenue grew 6.2%. The company saw accelerated growth in new business (7% YoY), up-sell/cross-sell (9% YoY), and strong customer retention (97%). However, GAAP net income decreased to a loss of $6.2 million, or $(0.07) per diluted share. Adjusted EBITDA decreased 7.4% to $46.3 million, with margin contracting 320 bps to 23.1%. The company ended Q2 with a net leverage ratio of 2.8x net debt to Adjusted EBITDA. Sterling's pending merger with First Advantage is expected to close in Q4 2024, promising greater innovation and shareholder value creation.
Sterling Check Corp. (NASDAQ: STER) reported first quarter 2024 results with a 3.8% revenue increase to $186.0 million. The company experienced organic revenue decline of 4.9% but saw 8.7% growth from inorganic sources. GAAP net income declined to a loss of $(8.0) million, and adjusted EBITDA decreased by 15.5% to $38.5 million. CEO Josh Peirez highlighted strong revenue growth from new business, up/cross-sell, and customer attrition, offset by base business revenue declines. The company's profitability was impacted by lower-margin inorganic revenue growth and mix of organic revenue activities. Sterling remains focused on improving margins through cost optimization efforts and synergies from M&A activities.
Sterling Check Corp. (NASDAQ: STER) has been recognized as an HR Tech Award winner for the fourth consecutive year. The company stands out for its tools and technologies used to streamline hiring processes and build strong company cultures. Sterling received two distinctions this year: Talent Acquisition and Best Comprehensive Solution. Judges within the HR technology space have acknowledged Sterling as a top provider in the industry, with a focus on innovation, client-focused commitment, and delivering targeted services.
