Condensed Financial Information of Registrant (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2022

Sterling Check Corp. (Parent Company Only)

Condensed Balance Sheets


(in thousands, except share amounts)	December 31, 2021		December 31, 2022
ASSETS
Cash and cash equivalents	$	8	$	11
Investment in subsidiaries of Parent	709,616		736,635
Total assets	$	709,624	$	736,646
LIABILITIES AND STOCKHOLDERS’ EQUITY
Commitments and contingencies (Note 13)
STOCKHOLDERS’ EQUITY:
Preferred stock ($0.01 par value; 100,000,000 shares authorized; no shares issued or outstanding)	—		—
Common stock ($0.01 par value; 1,000,000,000 shares authorized; 95,854,795 shares issued and 95,746,975 shares outstanding as of December 31, 2021; 97,765,120 shares issued and 96,717,883 shares outstanding as of December 31, 2022, respectively)	68		76
Additional paid-in capital	916,578		942,789
Common stock held in treasury (107,820 shares and 1,047,237 shares as of December 31, 2021 and 2022, respectively)	(897)		(14,859)
Accumulated deficit	(206,218)		(186,448)
Accumulated other comprehensive (loss) income	93		(4,912)
Total stockholders’ equity	709,624		736,646
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	709,624	$	736,646

Sterling Check Corp. (Parent Company Only)

Condensed Statements of Operations and Comprehensive Loss


(in thousands, except share and per share data)	December 31, 2020		December 31, 2021		December 31, 2022
Equity in net (loss) income of subsidiaries	$	(52,293)	$	(18,527)	$	19,410
NET (LOSS) INCOME	(52,293)		(18,527)		19,410
Subsidiaries’ other comprehensive income (loss)	2,421		(964)		(5,005)
COMPREHENSIVE (LOSS) INCOME	$	(49,872)	$	(19,491)	$	14,405

Net (loss) income per share attributable to stockholders
Basic	$	(0.59)	$	(0.21)	$	0.21
Diluted	$	(0.59)	$	(0.21)	$	0.20
Weighted average number of shares outstanding—basic and diluted
Basic	88,345,312		90,218,386		94,052,435
Diluted	88,345,312		90,218,386		98,866,004