Red Violet Inc Stock Price, News & Analysis

Red Violet, Inc. (NASDAQ: RDVT), an analytics and information solutions provider, will participate in the Stifel 2021 Cross Sector Insight Conference on June 9, 2021. CEO Derek Dubner and CFO Daniel MacLachlan will lead virtual 1-on-1 meetings. The company focuses on identity intelligence, utilizing proprietary technologies to enable real-time identification and location of entities. Their intelligent platform, CORE™, supports diverse applications including fraud detection, risk mitigation, and regulatory compliance, aiding organizations in managing massive datasets efficiently.

FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with the Greater Baton Rouge Association of REALTORS® (GBRAR) to enhance safety for over 3,400 REALTOR® members. The service provides real-time identity verification and risk assessment, enabling safer interactions for agents. This initiative, effective May 14, 2021, allows GBRAR members to access FOREWARN's services at no extra cost, supporting confidence during property showings. The partnership underscores GBRAR's commitment to member safety and proactive risk management.

FOREWARN, a company of red violet (NASDAQ: RDVT), announced a contract with the Outer Banks Association of REALTORS^® (OBAR) to provide its services to over 1,000 REALTOR^® members in North Carolina. This initiative promotes agent safety by utilizing real-time information solutions to verify identities and search criminal histories. The services will be available to OBAR members at no extra cost, enabling them to plan showings with increased confidence. Members will receive instructions for activation on May 13, 2021.

Red Violet, Inc. (NASDAQ: RDVT) reported record quarterly revenue of $10.2 million for Q1 2021, a 10% increase year-over-year. The growth was driven by a 21% rise in high-margin Platform revenue, totaling $9.8 million. The net loss narrowed to $0.6 million, down 61%, while adjusted EBITDA surged 66% to $2.9 million. Gross profit climbed 21% to $6.3 million, with gross margin improving to 61%. The company also increased its customer base significantly, adding 170 new customers and 10,400 new users.

FOREWARN, a leading provider of real-time information solutions, has partnered with the South Metro Denver REALTOR® Association (SMDRA) to provide its services to over 5,200 REALTOR® members. This collaboration aims to enhance agent safety by allowing members to verify identity and search criminal histories using just a phone number. Effective May 4, 2021, SMDRA members will access FOREWARN at no additional cost, promoting proactive safety in real estate engagements. This partnership emphasizes the importance of safety and intelligence for REALTORS® in potentially vulnerable situations.

Red Violet, Inc. (NASDAQ: RDVT) will report its financial results for Q1 2021 on May 11, 2021, after U.S. markets close. The company will hold a conference call at 4:30 PM ET on the same day to discuss these results and provide a business update. Interested parties can access the call via domestic and international dial-in numbers provided in the PR. The call will also be webcast on the company's website. Red Violet specializes in identity intelligence solutions, enabling organizations to mitigate risks, enhance customer acquisition, and prevent fraud.

FOREWARN has partnered with Big Sky Country MLS to provide its safety service to over 1,400 REALTOR® members in Montana. This service, available at no extra cost, equips agents to verify identity, check criminal histories, and validate client information through a mobile app. The initiative aims to enhance real estate agent safety during showings. Members will receive activation instructions on May 3, 2021. FOREWARN utilizes extensive data analytics to improve engagement safety in real estate. This collaboration signifies a commitment to agent protection and proactive risk management.

FOREWARN has contracted with the Corpus Christi Association of REALTORS® (CCAR) to provide its services to over 1,600 REALTOR® members, enhancing agent safety. The service, available online and through a mobile app, allows agents to mitigate risks by verifying identities and checking criminal histories using just a phone number. This partnership aims to empower real estate agents by increasing their safety during client interactions, at no extra cost to them. CCAR members will receive instructions for activating the service starting April 22, 2021.

FOREWARN, a subsidiary of red violet (NASDAQ: RDVT), announces a new contract with the Central Panhandle Association of REALTORS® (CPAR) to provide its services to over 1,800 REALTOR® members in the Panama City area, enhancing agent safety. The service, available at no additional cost, utilizes data analysis to verify client identities and assess risks before property showings. CPAR members received instructions to activate their subscriptions on April 13, 2021, promoting safer real estate interactions.