Welcome to our dedicated page for Red Violet news (Ticker: RDVT), a resource for investors and traders seeking the latest updates and insights on Red Violet stock.
Red Violet, Inc. (NASDAQ: RDVT) is a leading software and services company specializing in big data analysis. At the core of its operations is the CORE™ data fusion platform, which transforms vast amounts of data into meaningful intelligence for enterprises across various industries. Red Violet offers cloud-based, mission-critical information solutions, empowering organizations with insights into individuals, businesses, and assets.
Founded with a belief that time is the most valuable asset, Red Violet utilizes cutting-edge proprietary technology and a comprehensive data repository to provide real-time intelligence. This enables clients to efficiently manage risk, conduct investigations, detect and prevent fraud, and ensure regulatory compliance. Notable brands under Red Violet include IDI and FOREWARN.
Red Violet has demonstrated robust financial performance, achieving record revenues and earnings. For instance, in the third quarter of 2023, the company reported record revenue of $15.8 million and an EPS of $0.87. This growth highlights the company's strong value proposition and the increasing demand for its advanced data solutions, even amidst broader economic challenges.
Recent developments include strategic partnerships, such as with MLS United to enhance real estate agent safety through FOREWARN services. Additionally, Red Violet has seen a significant increase in its share repurchase program, reaffirming management's confidence in the company's future prospects.
Overall, Red Violet’s solutions are pivotal in promoting safer business practices, reducing operational costs, and enabling smarter decision-making through data-driven insights.
Red Violet, Inc. (NASDAQ: RDVT) reported a strong finish to 2020, with a 14% increase in total revenue, reaching $34.6 million. In Q4, total revenue decreased slightly by 1% to $9.0 million, while platform revenue rose 12% to $8.6 million. The company generated $1.8 million in cash from operations in Q4, totaling $6.5 million for the year. Adjusted EBITDA surged 213% to $5.9 million for the full year, signaling robust profitability. The firm remains optimistic about 2021, citing a solid start and strong growth potential driven by innovative technology.
Red Violet, Inc. (NASDAQ: RDVT) will report its financial results for Q4 and the full year ended December 31, 2020, on March 10, 2021. The announcement will follow the close of U.S. financial markets. A conference call is scheduled for 4:30 PM ET on the same day to discuss the results and provide a business update. Interested parties can access the call via phone or webcast through the Red Violet website.
FOREWARN, LLC (NASDAQ: RDVT) has partnered with the Pikes Peak Association of REALTORS® to provide safety services for over 4,200 REALTOR® members. This collaboration enhances agent safety by allowing access to FOREWARN's online and mobile application services, which analyze vast amounts of data to help agents verify identities and check criminal histories using just a phone number. The service will be available at no cost to individual agents starting from March 1, 2021, ensuring improved safety protocols for real estate professionals.
FOREWARN, LLC, a red violet company (NASDAQ: RDVT), has secured a contract with Montana Regional MLS to provide its safety services to over 3,000 REALTOR® members. The FOREWARN service allows real estate agents to verify identities, check criminal histories, and validate client information using only a phone number, thereby enhancing agent safety. Available at no extra cost to MRMLS members, this move aims to promote proactive safety measures in real estate transactions.
FOREWARN, a leading provider of real-time information solutions for real estate agents, announced a partnership with the Tri-County Suburban REALTORS® (TCSR) to enhance agent safety by providing FOREWARN services to over 8,500 members at no extra cost. The services, accessible through a mobile app, utilize extensive data to verify identities, search criminal histories, and validate client information using just a phone number. This initiative aims to empower real estate agents with the confidence to conduct showings and meetings safely.
Red Violet (NASDAQ: RDVT) reported strong financial results for Q3 2020, with a 31% sequential revenue increase to $9.3 million, reflecting a 12% year-over-year growth. Adjusted EBITDA rose by 130% sequentially and 84% year-over-year, reaching a record $2.1 million. The gross profit increased 24% to $5.5 million, resulting in a 59% gross margin. Notably, platform revenue surged 27%, while services revenue fell 75%. The company added over 380 new customers to idiCORE™ and increased FOREWARN® users by 4,000 during the quarter.
Red Violet, Inc. (NASDAQ: RDVT) will announce its third-quarter financial results on November 10, 2020, after U.S. market close. The report will cover the period ending September 30, 2020. Following the announcement, a conference call is scheduled for 4:30 PM ET on the same day, where the company will discuss the results and provide a business update. Investors can participate through a call or listen via webcast on the company's website. Further details, including dial-in numbers and passcodes, are provided in the press release.
FOREWARN, LLC, a leading provider of real-time information solutions, has partnered with the Southern Indiana REALTORS® Association (SIRA) to offer its services to over 700 REALTOR® members at no extra cost. The service aims to enhance agent safety by enabling users to verify identities and check criminal histories through a mobile application or online platform. This proactive approach to safety will empower agents with essential risk verification tools, fostering a secure environment for real estate transactions.
FOREWARN, LLC (NASDAQ: RDVT) has partnered with the South Bend Area REALTORS® to provide its real estate agents over 500 members with innovative safety and verification services. The FOREWARN services will allow agents to conduct risk assessments using phone numbers to verify identities and check criminal histories. This service aims to enhance agent safety without additional costs to agents. Myron Larimer, CEO of SBAR, emphasized the importance of the tool during Agent Safety Month. Members received activation instructions on September 1, 2020.
Red Violet reports a record $1.8 million in positive cash flow from operations for Q2 2020, showcasing resilience during economic challenges. Total revenue decreased 3% to $7.1 million, with platform revenue up 11% to $6.9 million. Services revenue plummeted 82% to $0.2 million. Adjusted EBITDA increased 155% to $0.9 million. Despite a net loss of $2.5 million, the company anticipates continued growth fueled by digital transformation trends. Cash and equivalents stood at $13.8 million as of June 30, 2020.
FAQ
What is the current stock price of Red Violet (RDVT)?
What is the market cap of Red Violet (RDVT)?
What does Red Violet, Inc. specialize in?
What is the CORE™ platform?
What are some key brands under Red Violet?
How did Red Violet perform financially in recent quarters?
What industries does Red Violet serve?
What recent partnerships has Red Violet formed?
What is the purpose of Red Violet's share repurchase program?
What are some of the uses of Red Violet's solutions?
How does Red Violet ensure data security and privacy?
Where can I find more information about Red Violet?
