Core Insights - Red Violet, Inc. reported a record fourth quarter revenue of 19.6million,representinga3075.2 million, up 25% from the previous year [1][4][14] - The company achieved a net income of 0.9millioninQ42024,comparedtoanetlossof1.1 million in Q4 2023, resulting in earnings of 0.06pershare[4][20]−AdjustedEBITDAforthefourthquarterincreasedby684.5 million, with an adjusted EBITDA margin of 23% [4][19] Fourth Quarter Financial Results - Total revenue for Q4 2024 was 19.6million,a3013.7 million, with a gross margin improvement to 70% from 64% [4] - Adjusted gross profit increased 37% to 16.1million,withanadjustedgrossmarginof820.9 million, translating to a net income margin of 4% compared to a net loss margin of 7% in the prior year [4] - Cash from operating activities increased 59% to 6.7million[4]FullYearFinancialResults−Fullyearrevenuefor2024reached75.2 million, a 25% increase from 60.2millionin2023[4][14]−Grossprofitfortheyearwas51.8 million, up 33%, with a gross margin of 69% [4] - Net income for the year was 7.0million,downfrom13.5 million in 2023, resulting in earnings of 0.51pershare[4][14]−AdjustedEBITDAforthefullyearincreased4423.6 million, with an adjusted EBITDA margin of 31% [4][19] Business Highlights - The company added 183 customers to its IDI™ platform in Q4, ending the year with 8,926 customers [4] - FOREWARN user base grew by 18,451 in Q4, totaling 303,418 users, with over 525 REALTOR Associations contracted [4] - The onboarding of higher-tier customers continued, with 96 customers contributing over 100,000inrevenuein2024,comparedto72in2023[4]−Thecompanyrepurchased292,744sharesofcommonstockin2024atanaveragepriceof19.81 per share [5]
Red Violet(RDVT) GlobeNewswire·2025-02-27 21:05