Quarterly ResultMay 7, 2026, 04:32 PM
Red Violet Q1 Revenue +17% to $25.8M; Net Income +28% to $4.4M
AI Summary
Red Violet, Inc. announced strong financial results for the first quarter ended March 31, 2026, reporting record revenue and profitability. The company's revenue increased 17% to $25.8 million, and net income rose 28% to $4.4 million. Adjusted EBITDA also saw significant growth, increasing 27% to $10.7 million, reflecting strong operational leverage. The company highlighted robust customer acquisition for its IDI platform and continued expansion for FOREWARN , alongside ongoing share repurchases.
Key Highlights
- Total revenue increased 17% to a record $25.8 million.
- Net income increased 28% to $4.4 million, with diluted EPS of $0.30.
- Adjusted EBITDA increased 27% to $10.7 million, achieving a 41% margin.
- Adjusted gross profit increased 20% to $22.0 million, with an 85% margin.
- Net cash provided by operating activities increased 32% to $6.6 million.
- Added 400 new IDI\u2122 customers, bringing the total to 10,422.
- FOREWARN users grew to 417,680, with over 640 REALTOR Associations contracted.
- Repurchased 73,250 shares year-to-date through April 30, 2026, with $15.6 million remaining in the program.
Price Impact
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