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.
FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with the Akron Cleveland Association of REALTORS® (ACAR) to offer its services to over 6,600 REALTOR® members. This initiative aims to enhance agent safety by enabling risk mitigation through identity verification and criminal history checks via a mobile application or online platform.
Members can access the service at no extra cost, reinforcing the association's commitment to member safety. Specific activation instructions were provided to members on December 1, 2021.
Red Violet, Inc. (NASDAQ: RDVT) announced the closure of a $21 million growth financing deal through the sale of 552,915 shares at $38.00 each, completing its registered direct offering. The proceeds will support market expansion in key sectors, including financial services and real estate, and other corporate purposes. After expenses, the net proceeds amount to approximately $20.9 million. CEO Derek Dubner highlighted the investment as recognition of the company's potential in identity resolution and plans to enhance data science capabilities and sales resources.
Red Violet, Inc. (NASDAQ: RDVT) reported record revenue of $11.7 million for Q3 2021, a 26% increase year over year. The net income reached $1.3 million, marking the company’s first quarter of GAAP profitability without one-time gains. Adjusted EBITDA rose 73% to $3.6 million, while gross profit increased 38% to $7.6 million. The company added over 170 new customers to idiCORE™ and 6,700 users to FOREWARN®, enhancing its market position. Cash and equivalents stood at $13.4 million as of September 30, 2021.
Red Violet, Inc. (NASDAQ: RDVT), a leader in analytics and information solutions, will participate in the Furey Research Partners Hidden Gems Conference on November 18, 2021. CEO Derek Dubner and CFO Daniel MacLachlan will present virtually at 1:45 p.m. ET, with additional one-on-one meetings available for clients of Furey Research Partners. This event showcases carefully selected companies to institutional small cap fund managers. Red Violet specializes in identity intelligence technology that supports risk mitigation, fraud prevention, and regulatory compliance.
Red Violet, Inc. (NASDAQ: RDVT) will participate in the RBC Capital Markets Technology, Internet, Media and Telecommunications Conference on November 16, 2021. CEO Derek Dubner and CFO Daniel MacLachlan will host virtual 1-on-1 meetings during the event.
Red Violet specializes in analytics and identity intelligence solutions. Their CORE™ platform transforms data into insightful intelligence, aiding businesses in risk mitigation, fraud detection, and customer acquisition.
Red Violet, Inc. (NASDAQ: RDVT) announced it will report its third-quarter financial results for the period ending September 30, 2021, after market close on November 9, 2021. A conference call will take place on the same day at 4:30 PM ET to discuss these results and provide a business update. Investors can access the call via phone or through a webcast on the company’s website. The company specializes in analytics and information solutions, delivering identity intelligence powered by its CORE™ platform.
Red Violet (NASDAQ: RDVT) announced a contract with Greater Chattanooga REALTORS® to provide FOREWARN services for over 2,400 REALTOR® members, enhancing agent safety in southeast Tennessee and northwest Georgia. FOREWARN offers real-time identity verification, criminal history checks, and client information validation via phone number. This service is accessible to members at no extra cost, equipping agents with a critical tool for safe real estate engagements.
FOREWARN, LLC, a red violet company (NASDAQ: RDVT), has announced a partnership with the Northern Virginia Association of REALTORS® (NVAR) to provide its services to over 13,000 REALTOR® members. This collaboration aims to enhance agent safety by offering FOREWARN’s risk mitigation solutions at no cost to members. FOREWARN’s platform analyzes extensive data to verify identities and check criminal histories using just a phone number. The initiative underscores NVAR's commitment to member safety, with the CEO emphasizing the importance of this tool for real estate agents.
Red Violet, Inc. (NASDAQ: RDVT) has launched its “Innovations in Identity” Advisory Board to provide strategic guidance for expansion in existing and new markets. The board includes industry leaders like Dan Hesse, Lou Anne Alexander, and Ralph A. Rodriguez, aimed at strengthening the company's position in identity solutions. The CEO highlighted the importance of these advisors in navigating the evolving identity landscape. The advisory board's formation is a significant step in the company's growth strategy, leveraging diverse expertise to enhance its capabilities in identity analytics.
FOREWARN, LLC, a red violet company (NASDAQ: RDVT), has partnered with the Northwest Arkansas Board of REALTORS® (NABOR) to provide its services to over 3,200 REALTOR® members aimed at enhancing agent safety. Available via mobile and online, FOREWARN utilizes extensive data analysis to mitigate risks by verifying client identities and checking criminal histories. This service will be provided at no extra cost to agents. The implementation of FOREWARN comes as a response to growing safety concerns in real estate transactions, allowing agents to proactively identify risks.
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?
