Red Violet Inc Stock Price, News & Analysis

Red Violet, Inc. (NASDAQ: RDVT) announced it will report its second-quarter financial results for the period ending June 30, 2022, on August 9, 2022, after U.S. market close. A conference call will take place at 4:30 PM ET on the same day to discuss the results and provide a business update. Participants can access the call via a domestic dial-in number or a webcast available on the company's website. Red Violet specializes in analytics and information solutions, delivering identity intelligence through its CORE™ platform.

FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with Bonita Springs-Estero REALTORS® to provide its safety services to over 1,400 REALTOR® members. This initiative aims to enhance agent safety by offering tools for verifying identities, checking criminal histories, and validating client information via a mobile app. Members will receive these services at no extra cost. The collaboration emphasizes the importance of agent safety in real estate transactions, addressing concerns highlighted by tragic incidents within the industry.

FOREWARN, a leading real-time information solutions provider, has entered into a contract with Southwest Multiple Listing Service (SWMLS) to provide its services to over 4,000 REALTOR® members in Central New Mexico. This initiative aims to enhance agent safety by offering tools to verify identities and assess potential risks. The FOREWARN services will be available at no additional cost to members, allowing agents to ensure safer engagements during property showings. The company emphasizes that this collaboration adds significant value to REALTOR® operations.

Red Violet (NASDAQ: RDVT) announced that Lakeland REALTORS^® has contracted to provide FOREWARN services to over 1,300 REALTOR^® members to enhance agent safety. This service, available through a mobile app and online, offers real-time risk assessment tools, such as identity verification and criminal history checks, using only a phone number. The subscription will not incur additional costs for individual agents. CEO Barbara Barnes emphasized the importance of safety, stating members will appreciate the powerful yet user-friendly tool.

Red Violet, Inc. (NASDAQ: RDVT) announced its inclusion in the Russell 3000® and Russell 2000® Indexes, effective June 27, 2022. This decision reflects the company's standing among the top 4,000 US stocks by market capitalization. Membership in these indexes is expected to enhance liquidity and visibility within the institutional investment community, given that approximately $12 trillion in assets are benchmarked against Russell's indexes. CEO Derek Dubner highlighted this as a significant milestone in the company's growth trajectory.

FOREWARN, a red violet company (NASDAQ: RDVT), has partnered with Bryan College Station Regional MLS to provide its safety services to over 1,500 REALTOR® members in Texas. This initiative promotes proactive safety by enabling agents to verify identities, check criminal histories, and validate client information swiftly through a mobile application. Members can access FOREWARN at no extra cost, enhancing their safety when meeting clients. The contract emphasizes the importance of agent security in real estate, leveraging extensive data analytics for risk mitigation.

Red Violet reported a record revenue of $12.7 million for Q1 2022, marking a 25% increase year-over-year. The net income turned positive at $0.1 million, compared to a net loss of $0.6 million in the same quarter last year. Adjusted EBITDA increased by 12% to $3.2 million with a gross profit of $8.1 million, reflecting a gross margin improvement to 64%. The company also announced a $5 million share repurchase program, highlighting strong cash flow with cash equivalents reaching $34.8 million.

Red Violet, Inc. (NASDAQ: RDVT) announced it will report its Q1 financial results on May 4, 2022, after market close. The company will also hold a conference call on the same date at 4:30 PM ET to discuss the results and provide a business update. Interested parties can access the call using specified domestic and international dial-in numbers. Red Violet specializes in analytics and information solutions, utilizing proprietary technologies to provide identity intelligence for various applications, including fraud detection and regulatory compliance.

Red Violet, Inc. (NASDAQ: RDVT) reported a strong fourth quarter, with total revenue increasing 26% to $11.3 million and cash flow from operations rising 10% to $2.0 million. For the full year, revenues grew 27% to $44.0 million, leading to a net income of $0.7 million, reversing a loss of $6.8 million in 2020. The adjusted EBITDA surged 85% to $10.9 million, while the gross profit saw a 43% increase to $27.7 million. Looking ahead, the company aims to exceed $100 million in annual revenue within three years, with a target adjusted gross margin exceeding 80%.