Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.23.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 103,218 $ 162,092
Restricted cash 0 1,310
Accounts receivable, net of allowance for credit losses of $5,421 and $5,812 at September 30, 2023 and December 31, 2022, respectively 139,557 136,656
Prepaid expenses and other current assets 26,118 18,745
Total current assets 268,893 318,803
Property and equipment, net 7,190 9,045
Right-of-use assets, net 6,352 8,423
Intangible assets, net 312,542 331,598
Goodwill 833,264 809,463
Cloud computing software, net 37,736 35,230
Deferred tax assets 74,110 74,236
Other non-current assets 20,975 18,949
Total assets 1,561,062 1,605,747
Current liabilities    
Accounts payable 11,740 11,571
Accrued expenses and other current liabilities 102,189 75,208
Accrued salaries and payroll 30,801 31,075
Debt, current portion 7,500 8,350
Total current liabilities 152,230 126,204
Debt, long-term portion 726,338 683,206
Tax receivable agreement liability, long-term portion 183,504 210,543
Deferred taxes liabilities 11,269 5,748
Other non-current liabilities 10,844 11,728
Total liabilities 1,084,185 1,037,429
Commitments and contingent liabilities (Note 14)
Stockholders' equity    
Preferred stock, $0.001 par value, authorized 100,000,000 shares; none issued and outstanding as of September 30, 2023 and December 31, 2022 0 0
Common stock, $0.001 par value, authorized 1,000,000,000 shares; 79,884,225 and 79,660,397 shares issued, and 68,138,638 and 78,131,568 shares outstanding as of September 30, 2023 and December 31, 2022, respectively 80 80
Additional paid-in capital 820,090 805,799
Treasury stock, at cost; 11,745,587 and 1,528,829 shares repurchased at September 30, 2023 and December 31, 2022, respectively (126,742) (16,827)
Accumulated deficit (222,844) (215,790)
Accumulated other comprehensive loss (11,420) (4,944)
Total HireRight Holdings Corporation stockholders' equity 459,164 568,318
Noncontrolling interest 17,713 0
Total stockholders’ equity 476,877 568,318
Total liabilities and stockholders’ equity $ 1,561,062 $ 1,605,747