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November 18 , 2021 HIRE RIGHT HireRight Reports Third Quarter 2021 Results - Revenues Grew 57 % over Prior Year - - Strengthened Balance Sheet with IPO Proceeds - - Increased Revenue Outlook for 2021- NASHVILLE , Tenn .-- ( BUSINESS WIRE ) -- HireRight Holdings Corporation ( the " Company " ) ( NYSE : HRT ) ( " HireRight " or the " Company " ) , a leading provider of background screening services , today announced financial results for its third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights : • Revenues of $ 205.0 million for Q3 2021 increased 57 % , from $ 130.7 million in Q3 2020 • Operating income of $ 26.5 million for Q3 2021 , compared to operating loss of $ 7.2 million for Q3 2020 • Net income of $ 7.3 million for Q3 2021 , up from net loss of $ 27.0 million for Q3 2020 • Adjusted EBITDA of $ 51.6 million for Q3 2021 , up from $ 28.0 million for Q3 2020 " We continued to see increasing strength and demand from our end markets as the global economy recovers from the pandemic . That strength combined with new wins has led us to the highest revenue quarter in the Company's history , demonstrating our attractive position in an industry with global secular growth drivers , ” said HireRight President and CEO Guy Abramo . " Looking ahead , we're excited at the opportunities to capitalize on our growing pipeline and the rising demand in labor markets . With our recent IPO , our entire team is energized and squarely aligned on execution and delivering long - term shareholder value . " Revenues Total revenues were $ 205.0 million for the three months ended September 30 , 2021 , compared to $ 130.7 million for the three months ended September 30 , 2020. Service revenues increased $ 53.7 million , or 54.5 % , to $ 152.3 million , and revenues from surcharge fees increased $ 20.6 million , or 64.1 % , to $ 52.6 million . Revenues from international locations more than doubled and increased by $ 8.2 million to $ 15.9 million while revenue from domestic locations increased by 53.8 % to $ 189.1 million compared to the three months ended September 30 , 2020 . Cost of Services ( exclusive of depreciation and amortization ) Cost of services was $ 111.3 million for the three months ended September 30 , 2021 compared to $ 69.7 million for the three months ended September 30 , 2020 , primarily due to higher client order volumes over the COVID - impacted prior year period . Cost of services as