Exhibit 99.1 red violet Announces Second Quarter 2024 Financial Results Revenue Increases 30% to a Record $19.1 Million, Generating GAAP EPS of $0.19 BOCA RATON, Fla. – August 7, 2024 – Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, today announced financial results for the quarter ended June 30, 2024. "We are pleased to deliver a very strong quarter, achieving new highs across all key metrics driven by broad-based demand for our solutions," stated Derek Dubner, red ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 increased by 30% to a record $19.1 million, with adjusted gross profit reaching $15.6 million and an adjusted gross margin of 82% [7][11] - Adjusted EBITDA rose by 47% to a record $6.8 million, resulting in an adjusted EBITDA margin of 36% [7][11] - Adjusted net income increased by 33% to $3.9 million, leading to adjusted earnings of $0.28 per share [7][11] Business Line Data and Key Metrics Changes - The investigative vertical, particularly law enforcement, showed strong double-digit revenue growth, marking the 10th consecutive quarter of sequential revenue growth [12][13] - The collections vertical also experienced double-digit revenue growth, with increasing transaction volumes noted [13] - The real estate vertical saw a decline of approximately 10% due to market dynamics [14] Market Data and Key Metrics Changes - The company reported strong growth in the public sector, background screening support, and marketing services, with a significant increase in customer base [10][12] - FOREWARN added 27,237 users in Q2 2024, continuing its streak of 17 consecutive quarters of revenue growth [14] Company Strategy and Development Direction - The company is focused on expanding its market presence, particularly in larger enterprise accounts and public sector engagements [19][20] - Investments in personnel and marketing strategies are aimed at enhancing the company's go-to-market approach [19][21] - The company is committed to maintaining accelerated growth and expanding its cloud-native technology platform [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum throughout 2024 and beyond, citing a favorable economic environment and strong demand for solutions [6][23] - The company is optimistic about its positioning and pipeline, indicating potential for continued growth in underpenetrated markets [23] Other Important Information - Cash and cash equivalents stood at $30.9 million as of June 30, 2024, with a free cash flow of $3.3 million for the quarter [16] - The company repurchased 15,804 shares at an average price of $18.61 per share during the quarter [16] Q&A Session Summary Question: Insights on targeting larger accounts and public agencies - Management highlighted investments in key personnel and strategies to penetrate larger enterprise and public sector markets, including a significant hire with experience in government relations [19][20] Question: Expectations for the second half of 2024 - Management indicated that momentum is expected to continue, with a strong pipeline and minimal penetration in new areas, suggesting significant growth potential [23] Question: Growth in the investigative unit, particularly law enforcement - Management noted that growth is driven by both new customer acquisition and expansion within existing accounts, with a large market opportunity remaining [25][26]

Company Presentation August 2024 Statement Regarding Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, which have not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). These non-GAAP financial measures are in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. There are a number of limitations related to the use of these nonGAAP financial measures ...

Red Violet, Inc. (RDVT) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 47.37%. A quarter ago, it was expected that this company would post earnings of $0.06 per share when it actually produced earnings of $0.22, delivering a surprise of 266.67%. Over the last four quarters, the comp ...

Revenue Growth - Total revenue increased 30% to $19.1 million for the three months ended June 30, 2024, compared to the same period in 2023[58]. - Revenue increased by $4.4 million or 30% to $19.1 million for the three months ended June 30, 2024, compared to $14.7 million for the same period in 2023[69]. - Revenue increased by $7.3 million or 25% to $36.6 million for the six months ended June 30, 2024, compared to $29.3 million for the same period in 2023[75]. Profitability - Gross profit increased 41% to $13.3 million, with gross margin rising to 70% from 64%[58]. - Adjusted gross profit increased 36% to $15.6 million, with adjusted gross margin rising to 82% from 78%[59]. - Net income surged 90% to $2.6 million, resulting in earnings of $0.19 per basic and diluted share, with net income margin increasing to 14% from 9%[59]. - Adjusted net income for the three months ended June 30, 2024, was $3.9 million, compared to $2.9 million for the same period in 2023, representing a 33% increase[64]. - Net income for the six months ended June 30, 2024, was $4.4 million, up from $2.1 million for the same period in 2023[81]. Customer Growth - IDI added 236 customers during the second quarter, ending with a total of 8,477 customers[60]. - The IDI billable customer base grew from 7,497 customers as of June 30, 2023, to 8,477 customers as of June 30, 2024[69]. - FOREWARN added 27,237 users, bringing the total to 263,876 users, with over 490 REALTOR® Associations contracted to use the service[60]. - FOREWARN user base increased from 146,537 users to 263,876 users during the same period[69]. Cash Flow - Cash and cash equivalents were $30.9 million as of June 30, 2024[59]. - Net cash provided by operating activities increased 61% to $5.7 million[59]. - Net cash provided by operating activities was $10.0 million for the six months ended June 30, 2024, compared to $5.1 million for the same period in 2023[83]. - Free cash flow (FCF) for the three months ended June 30, 2024, was $3.3 million, compared to $1.3 million for the same period in 2023, indicating a significant increase[66]. Expenses - Sales and marketing expenses increased by $1.3 million or 43% to $4.4 million for the three months ended June 30, 2024, primarily due to increased salaries and benefits[72]. - General and administrative expenses rose by $0.7 million or 13% to $5.8 million for the three months ended June 30, 2024, driven by higher employee salaries and professional fees[73]. - Sales and marketing expenses rose by $1.1 million or 17% to $8.1 million for the six months ended June 30, 2024[78]. - General and administrative expenses increased by $1.2 million or 12% to $11.5 million for the six months ended June 30, 2024[79]. Cost of Revenue - Cost of revenue as a percentage of revenue decreased to 18% for the three months ended June 30, 2024, down from 22% for the same period in 2023[71]. - Cost of revenue increased by $0.8 million or 12% to $7.2 million for the six months ended June 30, 2024[76]. - Cost of revenue as a percentage of revenue decreased to 20% for the six months ended June 30, 2024, from 22% for the same period in 2023[77].

BOCA RATON, Fla., July 30, 2024 (GLOBE NEWSWIRE) -- Red Violet, Inc. (NASDAQ:RDVT), a leading analytics and information solutions provider, announced today that it will report its financial results for the second quarter ended June 30, 2024 after the close of the U.S. financial markets on Wednesday, August 7, 2024. The Company will host its earnings call on Wednesday, August 7, 2024 at 4:30pm ET to discuss its quarterly results and provide a business update. The participant registration and webcast informat ...

Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance. So, the price trend in RDVT may not reverse anytime soon. In addition to RDVT, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria. Our " ...

Red Violet, Inc. (RDVT) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, RDVT's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross." There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. T ...

Company Contact: Camilo Ramirez Red Violet, Inc. 561-757-4500 ir@redviolet.com Investor Relations Contacts: Steven Hooser Three Part Advisors 214-872-2710 ir@redviolet.com BOCA RATON, Fla., June 06, 2024 (GLOBE NEWSWIRE) -- Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, today announced that it will participate in the East Coast IDEAS Investor Conference being held in New York on June 13, 2024. Camilo Ramirez, Senior Vice President, Finance and Investor Relations, wi ...

BOCA RATON, Fla., June 04, 2024 (GLOBE NEWSWIRE) -- FOREWARN, LLC, a red violet company (NASDAQ:RDVT) and the leading provider of real-time information solutions for real estate agents, today announced that Tucson Association of REALTORS® ("TAR") will offer FOREWARN® services to its 5,700+ members it serves throughout the Tucson area to promote proactive real estate agent safety. Available both online and through a mobile application, FOREWARN analyzes billions of data points and provides users with the abi ...