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Red Violet(RDVT) - 2020 Q3 - Earnings Call Presentation
2020-11-12 00:18
TRANSFORMING DATA INTO INTELLIGENCE Overview November 2020 ® Company Cautionary Statement This presentation contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements include non-historical statements about our ex ...
Red Violet(RDVT) - 2020 Q3 - Earnings Call Transcript
2020-11-11 01:02
Red Violet, Inc. (NASDAQ:RDVT) Q3 2020 Earnings Conference Call November 10, 2020 4:30 PM ET Company Participants Camilo Ramirez - Director, Finance & Investor Relations Derek Dubner - Chairman & Chief Executive Officer Dan MacLachlan - Chief Financial Officer Conference Call Participants Scott Billeadeau - Walrus Partners Operator Good day, ladies and gentlemen, and welcome to Red Violet's Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen only mode. Later we will c ...
Red Violet(RDVT) - 2020 Q3 - Quarterly Report
2020-11-10 21:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38407 RED VIOLET, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-2408531 (State or Other Jurisdiction ...
Red Violet(RDVT) - 2020 Q2 - Earnings Call Transcript
2020-08-12 03:23
Red Violet, Inc. (NASDAQ:RDVT) Q2 2020 Earnings Conference Call August 11, 2020 4:30 PM ET Company Participants Camilo Ramirez - Director, Finance and Investor Relations Derek Dubner - Chairman and Chief Executive Officer Dan MacLachlan - Chief Financial Officer Conference Call Participants Jeff Parks - Venator Brian Bythrow - Wasatch Operator Good day, ladies and gentleman and welcome to Red Violet’s Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen only mode. [Op ...
Red Violet(RDVT) - 2020 Q2 - Quarterly Report
2020-08-11 20:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38407 RED VIOLET, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-2408531 Indicate by check mark whether th ...
Red Violet(RDVT) - 2020 Q1 - Earnings Call Transcript
2020-05-12 01:43
Financial Data and Key Metrics Changes - The company reported record revenue of $9.3 million for Q1 2020, a 62% increase compared to Q1 2019 [10][41] - Adjusted gross profit increased by 96% to $6 million, with adjusted gross margin rising to 65% from 53% [10][41] - Adjusted EBITDA was $1.7 million, compared to a negative $0.4 million in Q1 2019 [11][41] - Net loss for the quarter was $1.5 million, slightly higher than the $1.4 million loss in Q1 2019 [47] Business Line Data and Key Metrics Changes - Base revenue from existing customers grew by $3 million or 84%, while growth revenue from existing customers increased by $0.4 million or 46% [10][41] - The company added over 260 new customers to idiCORE and over 5,900 users to FOREWARN during the quarter [11][42] - Revenue attributable to customer contracts reached 69%, marking the highest percentage in the company's history [22][43] Market Data and Key Metrics Changes - The company experienced reduced transactional volume in the second half of March due to the COVID-19 pandemic [11][41] - Customers in the collections vertical paused or diminished activity due to concerns about predatory behavior and government moratoria [19] - In the real estate vertical, some customers postponed marketing efforts in anticipation of a decline in housing activity [21] Company Strategy and Development Direction - The company is committed to maintaining durable relationships with existing customers and strategically capturing market share during the transitional period [33] - The business model is described as durable and proven, with a strong focus on identity verification and fraud detection solutions during economic crises [25][28] - The company plans to continue expanding its business, entering new industries, and introducing new products and solutions [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the economic challenges posed by the pandemic and expects accelerated growth as the economy reopens [39][55] - The company has implemented cost containment strategies and has not furloughed or laid off any employees during the crisis [54] - Management anticipates that demand from affected customers will revert back to pre-crisis levels and potentially exceed them due to pent-up demand [23] Other Important Information - The company received a $2.2 million loan under the CARES Act, which may be forgiven if used for covered payroll costs, rents, and utility costs [53][55] - Cash and cash equivalents were $11.5 million at the end of Q1 2020, down slightly from $11.8 million at the end of 2019 [49] Q&A Session Summary Question: Are there any questions from participants? - There were no questions during the Q&A session [57]
Red Violet(RDVT) - 2020 Q1 - Quarterly Report
2020-05-11 21:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38407 RED VIOLET, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-2408531 (State or Other Jurisdiction of Incorporation or Organization) (I. ...
Red Violet(RDVT) - 2019 Q4 - Earnings Call Transcript
2020-03-13 00:05
Financial Data and Key Metrics Changes - The company reported record revenue of $9.1 million for Q4 2019, a 92% increase compared to Q4 2018, driven by strong growth from existing customers [5][12] - Adjusted gross profit increased by 134% to $5.6 million, with adjusted gross margin rising to 62% from 51% in the same period of 2018 [5][12] - Adjusted EBITDA for Q4 was $0.8 million, which would have been $1.5 million excluding a one-time discretionary cash bonus of $0.7 million [12][13] - For the full year 2019, total revenue increased by 86% to $30.3 million, and adjusted EBITDA grew to $1.9 million from a loss in the previous year [5][11] Business Line Data and Key Metrics Changes - The idiCORE product saw significant customer growth, adding over 280 new customers in the quarter [13] - The FOREWARN application, a subscription-based solution, added over 6,700 users, indicating strong penetration in the real estate industry [7][13] - API services experienced the largest growth at 210%, showcasing the platform's adaptability and integration capabilities [8] Market Data and Key Metrics Changes - The company reported broad-based strength across various brands and delivery channels, with online and B2B channels growing by 47% and 77% respectively compared to Q4 2018 [7] - The company is expanding its market reach, particularly in the real estate sector, with new statewide agreements in Maine and Connecticut [6] Company Strategy and Development Direction - The company aims to continue penetrating various verticals and moving upmarket within those verticals, focusing on innovation and customer experience [5][9] - There is a commitment to expanding the sales team and enhancing product offerings to drive revenue growth in 2020 [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $2 million in adjusted EBITDA for Q1 2020, which would exceed the entire adjusted EBITDA for 2019 [10] - The company is well-positioned for continued growth, with a focus on leveraging its technology platform and operational efficiencies [11][12] Other Important Information - The company reported a net loss of $4.9 million for Q4 2019, primarily due to non-cash share-based compensation expenses [16] - Cash and cash equivalents increased to $11.8 million at the end of 2019, compared to $10 million at the end of 2018 [17] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with management expressing appreciation for participants' attendance [20][21]
Red Violet(RDVT) - 2019 Q4 - Annual Report
2020-03-12 20:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38407 RED VIOLET, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...
Red Violet(RDVT) - 2019 Q3 - Earnings Call Presentation
2019-11-12 20:29
TRANSFORMING DATA INTO INTELLIGENCE Overview November 2019 ® Company Cautionary Statement This presentation contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements include non-historical statements about our ex ...