Red Violet ( (RDVT) ) has released its Q4 earnings. Here is a breakdown of the information Red Violet presented to its investors.
Red Violet, Inc., a leading provider of analytics and information solutions, specializes in delivering identity intelligence through its proprietary technologies, serving various industries with solutions for identity verification, fraud detection, and regulatory compliance. The company has reported a strong financial performance for the fourth quarter and full year 2024, with significant increases in revenue and profitability. Fourth-quarter revenue reached a record $19.6 million, marking a 30% increase, while full-year revenue grew by 25% to $75.2 million. The company achieved a GAAP EPS of $0.50 for the year.
Key financial metrics highlight Red Violet’s robust performance, including a 43% increase in gross profit for the fourth quarter and a 33% increase for the full year. The adjusted EBITDA rose by 68% in the fourth quarter and 44% for the year, reflecting improved operational efficiency. The company also reported a substantial increase in cash flow from operations, which grew by 59% to $24.0 million for the year.
Strategically, Red Violet expanded its customer base significantly, adding 183 customers to its IDI platform and 18,451 users to its FOREWARN service in the fourth quarter alone. The company also demonstrated financial discipline by repurchasing shares and announcing a special cash dividend, all while continuing to invest in innovation and market expansion.
Looking ahead, Red Violet’s management remains optimistic about future growth, emphasizing their commitment to innovation and market penetration. With strong momentum and a solid financial foundation, the company is well-positioned for continued success in 2025 and beyond.