Core Insights - Red Violet, Inc. reported a record revenue increase of 21% to $23.1 million for the quarter ended September 30, 2025, alongside a significant net income increase of 145% to $4.2 million [1][7][19] - The company announced a $15 million increase to its share repurchase program, bringing the total authorized amount to $30 million [1][7] Financial Performance - Total revenue increased by 21% to $23.1 million compared to $19.1 million in the same quarter of the previous year [7][21] - Gross profit rose by 26% to $16.8 million, with gross margin improving to 73% from 70% [7][23] - Adjusted gross profit increased by 23% to $19.4 million, with adjusted gross margin rising to 84% from 83% [7][23] - Net income surged by 145% to $4.2 million, resulting in earnings of $0.30 and $0.29 per basic and diluted share, respectively [7][15] - Adjusted EBITDA grew by 35% to $9.0 million, with adjusted EBITDA margin increasing to 39% from 35% [7][21] Customer Metrics - The company added 304 customers to its IDI platform during the third quarter, ending with a total of 9,853 customers [7][31] - FOREWARN saw an addition of 25,538 users, bringing the total to 372,209 users, with over 590 REALTOR Associations contracted to use the service [7][31] Cash Flow and Liquidity - Net cash provided by operating activities increased by 40% to $10.2 million [7][16] - Cash and cash equivalents stood at $45.4 million as of September 30, 2025, compared to $36.5 million at the end of the previous year [7][12] Shareholder Returns - The company repurchased 15,437 shares at an average price of $42.26 per share during the third quarter [7][19] - The total remaining under the Stock Repurchase Program is $18.9 million [7][19]