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) will report its financial results for the first quarter ending March 31, 2023, after the U.S. markets close on May 9, 2023. The company will host an earnings call at 4:30 PM ET on the same day to discuss the results and provide a business update. Participants must register to receive unique dial-in credentials. The earnings call will be available via webcast on the company's investor website. Red Violet specializes in analytics and information solutions, focusing on identity intelligence and real-time data capabilities, enabling organizations to enhance risk mitigation and fraud detection. For details, visit their official website.
Florida-based Association contracts with FOREWARN to provide services for over 2,200 real estate professionals, enhancing agent safety.
On April 14, 2023, FOREWARN, LLC (NASDAQ: RDVT), a leader in real-time information solutions, announced a partnership with the Tallahassee Board of REALTORS® (TBR). This contract ensures that TBR members gain access to FOREWARN's services at no extra cost, allowing them to verify identities, check criminal histories, and validate client information using just a phone number.
TBR's CEO, Steven Louchheim, expressed enthusiasm for the collaboration, highlighting the significant safety benefits for agents. Instructions for activating the FOREWARN subscription will be provided to current TBR members. For more details, visit www.forewarn.com.
FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with the Greater Alabama MLS to provide its safety services to over 6,500 real estate professionals in Alabama. This initiative aims to enhance agent safety through real-time identity verification and risk mitigation.
The FOREWARN services, accessible online and via mobile app, allow agents to verify identities and search criminal histories using just a phone number, promoting safer planning for property showings. Members can access these services at no additional cost.
CEO Amanda Creel emphasized the significance of this announcement for members, highlighting the powerful capabilities of FOREWARN in improving safety and verification processes.
FOREWARN, LLC (NASDAQ: RDVT) has partnered with the San Antonio Board of REALTORS to provide its FOREWARN safety services to over 13,000 members.
This service offers real-time data analysis for real estate agents, enhancing agent safety by verifying identities and checking criminal histories using just a phone number. The service is available at no extra cost to SABOR members, allowing them to plan showings with improved confidence.
Gilbert Gonzalez, CEO of SABOR, emphasized the importance of agent safety and expressed enthusiasm for the new partnership.
Red Violet, Inc. (NASDAQ: RDVT) reported a 16% increase in fourth quarter revenue, reaching $13.1 million, and a 21% increase for the full year, totaling $53.3 million. The company generated a net income of $0.6 million in 2022. Key highlights include a 123% rise in cash flow from operations to $4.4 million and a 25% increase in gross profit to $34.7 million. The platform revenue grew significantly, while services revenue declined. The company added 148 customers and expanded its user base for its FOREWARN® solution. Cash and cash equivalents stood at $31.8 million as of year-end.
Red Violet (NASDAQ: RDVT) announced that South Carolina REALTORS® (SCR) has contracted to provide FOREWARN services to over 29,000 members across the state, enhancing real estate agent safety.
FOREWARN utilizes extensive data analysis to assist agents in verifying identities, searching criminal histories, and validating client information, all from a phone number. The service will be available at no additional cost to SCR members, promoting a safer working environment. As stated by SCR President Rob Woodul, this initiative aims to equip agents with essential tools for mitigating risks during property showings.
Red Violet, Inc. (NASDAQ: RDVT) announced it will disclose its financial results for Q4 and the full year ending December 31, 2022, after U.S. markets close on March 8, 2023. The company will host a conference call at 4:30 PM ET on the same day to discuss these results and provide a business update. Participants must register for unique dial-in credentials to join the call. Red Violet specializes in delivering advanced analytics and information solutions, enabling organizations to enhance operational confidence through identity intelligence.
Red Violet (NASDAQ: RDVT) announced that realMLS has contracted to provide FOREWARN services to over 11,000 real estate professionals in Northeast Florida. This initiative is designed to enhance agent safety by enabling identity verification and criminal history checks via a mobile app and online platform. FOREWARN's services will be provided at no additional cost to members, enhancing their ability to conduct transactions securely. Nicole Jensen, CEO of realMLS, emphasized the importance of this tool for agent safety. Existing members will receive activation instructions, and additional information about FOREWARN is available on their website.
Red Violet (NASDAQ: RDVT) announces a contract with Columbus REALTORS® to provide FOREWARN services to over 9,000 real estate agents in Columbus, Ohio. This collaboration aims to enhance agent safety by enabling quick verification of identities and checking criminal histories using just a phone number. The service is offered at no additional cost to members. CEO Brent Swander emphasizes the critical safety and fraud prevention benefits of the FOREWARN system, which empowers real estate professionals to operate with greater confidence.
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