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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 (NASDAQ: RDVT), a top analytics and information solutions provider, has announced its participation in the Midwest IDEAS Investor Conference on August 29, 2024 in Chicago. The company's CEO, Derek Dubner, and CFO, Daniel MacLachlan, will be presenting and hosting investor meetings at the event.
This conference provides an opportunity for RDVT to showcase its capabilities and engage with potential investors. The Midwest IDEAS Investor Conference is known for bringing together innovative companies and institutional investors, offering a platform for networking and information exchange.
Red Violet's participation in this event highlights its commitment to investor relations and its efforts to expand its market presence. Investors and analysts interested in learning more about Red Violet's analytics and information solutions may find this conference valuable for gaining insights into the company's strategies and growth prospects.
Red Violet (NASDAQ: RDVT) reported strong financial results for Q2 2024, with revenue increasing 30% to a record $19.1 million. The company achieved GAAP EPS of $0.19, representing a 90% increase in net income. Key highlights include:
- Gross profit up 41% to $13.3 million, with gross margin improving to 70%
- Adjusted EBITDA increased 47% to $6.8 million, with margin expanding to 36%
- Added 236 new IDI™ customers and 27,237 FOREWARN® users
- Repurchased 15,804 shares at an average price of $18.61
CEO Derek Dubner expressed confidence in sustaining momentum and driving accelerated growth in the coming quarters.
Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, has announced that it will release its second quarter 2024 financial results on August 7, 2024, after the U.S. financial markets close. The company will host an earnings call at 4:30pm ET on the same day to discuss quarterly results and provide a business update.
Participants are required to register for the call to receive unique dial-in credentials. The earnings call will be simultaneously webcast on the Investors section of Red Violet's website. An archived version of the webcast will be available after the call. Investors and interested parties are encouraged to join the call or access the webcast for insights into the company's financial performance and future outlook.
Red Violet (NASDAQ: RDVT), a prominent analytics and information solutions company, announced its participation in the East Coast IDEAS Investor Conference.
The conference will be held in New York on June 13, 2024. Camilo Ramirez, the Senior Vice President of Finance and Investor Relations, will represent the company and host investor meetings.
FOREWARN, a leading provider of real-time information solutions for real estate agents and a subsidiary of Red Violet (NASDAQ: RDVT), has partnered with the Tucson Association of REALTORS® (TAR). This collaboration will offer FOREWARN's services to over 5,700 TAR members at no additional cost. The service, available online and via a mobile app, analyzes billions of data points to verify identities, check criminal histories, and validate client information using just a phone number, thereby enhancing agent safety. Judy Lowe, CEO of TAR, emphasized the importance of this benefit to ensure member safety and combat fraud.
FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with the Vermont Association of REALTORS® (VAR) to provide its safety services to over 1,800 real estate professionals in Vermont. The service, accessible online and via a mobile app, analyzes data to verify identities, check criminal histories, and validate client information using only a phone number. This initiative aims to enhance agent safety and mitigate fraud risks. VAR members can access FOREWARN services at no additional cost. Instructions for activation will be provided to existing members.
FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with Santa Barbara Multiple Listing Service (MLS) to offer its real-time information solutions to over 1,700 real estate professionals in the Santa Barbara area. The service, available online and via mobile app, enhances agent safety by verifying identities, searching criminal histories, and validating client information using just a phone number. This initiative aims to allow agents to plan showings with greater confidence and mitigate risks effectively. The service is provided at no additional cost to the MLS members.
FOREWARN, a red violet company (NASDAQ: RDVT), has announced a partnership with Park City Multiple Listing Service (PCMLS) to provide its real-time information solutions to over 1,700 real estate professionals in the Park City area.
FOREWARN's services, available online and via a mobile app, enable agents to verify identities and check criminal histories using just a phone number, enhancing their safety during showings. The service is now offered at no additional cost to PCMLS members.
Jamie Johnson, CEO of PCMLS, emphasized the importance of agent safety and expressed enthusiasm about the partnership, highlighting it as a critical step in providing an extra layer of protection for their members.
Current PCMLS members will receive instructions on activating their FOREWARN subscription, while other real estate professionals can learn more about the service on FOREWARN's website.
Red Violet, Inc. (NASDAQ: RDVT) will present at the B. Riley 24th Annual Institutional Investor Conference on May 22-23, 2024, in Beverly Hills, CA. CEO Derek Dubner and CFO Dan MacLachlan will participate in an analyst-led discussion on May 22 at 9:00 a.m. PT.
Red Violet, Inc. (NASDAQ: RDVT) announced first quarter 2024 financial results with record revenue of $17.5 million, an increase of 20%. The company reported strong operating results driven by innovative technology and solutions. Total revenue, gross profit, net income, adjusted EBITDA, and cash provided by operating activities all saw significant increases compared to the same period last year. Red Violet also highlighted key business achievements, such as customer and user growth, as well as stock repurchase activities.
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