Business
red violet Announces First Quarter 2025 Financial Results
Revenue Increases 26% to a Record $22.0 Million, Generating GAAP EPS of $0.24 BOCA RATON, Fla., May 07, 2025 (GLOBE NEWSWIRE) -- Red Violet, Inc. (NASDAQ:
About this update from Red Violet, Inc.
[{"type":"text","content":"Revenue Increases 26% to a Record $22.0 Million, Generating GAAP EPS of $0.24\nBOCA RATON, Fla., May 07, 2025 (GLOBE NEWSWIRE) -- Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, today announced financial results for the quarter ended March 31, 2025. “We are extremely pleased to report another record-setting quarter, marking a strong start to 2025,” stated Derek Dubner, red violet’s CEO. “Our team continues to execute, achieving new highs across key financial metrics and underscoring the leverage and durability of our business model. We have generated meaningful momentum and are energized by the opportunities ahead to build on this success throughout the year.” First Quarter Financial Results For the three months ended March 31, 2025 as compared to the three months ended March 31, 2024: Total revenue increased 26% to $22.0 million.Gross profit increased 37% to $15.8 million. Gross margin increased to 72% from 66%.Adjusted gross profit increased 33% to $18.3 million. Adjusted gross margin increased to 83% from 79%.Net income increased 93% to $3.4 million, which resulted in earnings of $0.25 and $0.24 per basic and diluted share, respectively. Net income margin increased to 16% from 10%.Adjusted EBITDA increased 47% to $8.4 million. Adjusted EBITDA margin increased to 38% from 32%.Adjusted net income increased 53% to $4.8 million, which resulted in adjusted earnings of $0.35 and $0.33 per basic and diluted share, respectively.Net cash provided by operating activities increased 16% to $5.0 million.Cash and cash equivalents were $34.6 million as of March 31, 2025. First Quarter and Recent Business Highlights Added 315 customers to IDI™ during the first quarter, ending the quarter with 9,241 customers.Added 21,918 users to FOREWARN® during the first quarter, ending the quarter with 325,336 users. Over 545 REALTOR® Associations throughout the U.S. are now contracted to use FOREWARN.Paid out a special cash dividend of $0.30 per share on the Company’s common stock to shareholders of record as of January 31, 2025. The dividend, totaling $4.2 million, was paid on February 14, 2025. Conference Call In conjunction with this release, red violet will host a conference call and webcast today at 4:30pm ET to discuss its quarterly results and provide a business update. Please click here to pre-register for...