Red Violet(US:RDVT) Globenewswire·2025-08-06 20:05Core Insights - Red Violet, Inc. reported a 14% increase in revenue to $21.8 million for the quarter ended June 30, 2025, alongside a record cash flow from operations of $7.5 million [1][6]. Financial Performance - Total revenue increased by 14% to $21.8 million compared to $19.1 million in the same quarter last year [6]. - Gross profit rose by 18% to $15.7 million, with gross margin improving to 72% from 70% [6]. - Adjusted gross profit increased by 17% to $18.2 million, and adjusted gross margin improved to 84% from 82% [6]. - Net income grew by 2% to $2.7 million, resulting in earnings of $0.19 per basic share and $0.18 per diluted share [6]. - Adjusted EBITDA increased by 12% to $7.6 million, with adjusted EBITDA margin slightly decreasing to 35% from 36% [6]. - Net cash provided by operating activities surged by 31% to $7.5 million [6]. Customer Metrics - The company added 308 customers to its IDI platform during the second quarter, bringing the total to 9,549 customers [6]. - FOREWARN saw an addition of 21,335 users, ending the quarter with 346,671 users, with over 575 REALTOR Associations contracted to use the service [6]. Market Position and Strategy - The CEO expressed confidence in the company's ability to continue driving revenue growth and capitalize on significant opportunities ahead, highlighting strong customer onboarding and demand [2][6]. - The company has been successful in attracting higher-tier customers, with total customer spend increasing across key revenue cohorts [6].