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. develops analytics and information solutions that deliver identity intelligence for organizations. Its technology enables real-time identification and location of people, businesses, assets and their relationships, supporting identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance and customer acquisition. The company describes its CORE™ platform as a cloud-native, AI-enabled identity intelligence platform that transforms large datasets into intelligence.
Recurring Red Violet news includes quarterly financial results, earnings call updates, investor conference participation and customer deployments. Updates also cover FOREWARN, a Red Violet company that provides real-time information and identity verification services for real estate professionals and REALTOR® associations, with a recurring focus on agent safety and fraud mitigation.
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.
BOCA RATON, Fla., Aug. 07, 2020 - FOREWARN, LLC (NASDAQ: RDVT) announces a contract with the Stark County Association of REALTORS® to provide FOREWARN services to over 1,000 REALTOR® members in northeastern Ohio. This initiative aims to enhance real estate agent safety by offering tools for identity verification and risk assessment via a mobile app and online platform. The service will be available at no additional cost to SCAR members, enabling them to conduct business with increased confidence. Instructions for activation will be sent on August 14, 2020.