Red Violet Inc
F:2KH
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Red Violet Inc
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Red Violet Inc
Red Violet is a data analytics and identity intelligence company. It builds software that pulls together public records and other data sources, then cleans and matches that information so customers can search for people, verify identities, and spot risk more easily. Its main products are cloud-based investigative and screening tools sold through its own platform. The company mainly serves businesses and professionals that need to check who they are dealing with, such as lenders, insurers, collections firms, law firms, investigators, and some real estate and public-safety users. These customers use Red Violet’s tools to detect fraud, locate people, connect related records, and support due diligence and investigations. The company makes money by charging for software access, subscriptions, and data lookups. What makes Red Violet different is that it sits in the middle of a messy data chain. It does not just resell records; it organizes large amounts of fragmented information into products that are easier to use in everyday decision-making. That gives it a focused role in identity verification, fraud prevention, and investigative search.
Red Violet is a data analytics and identity intelligence company. It builds software that pulls together public records and other data sources, then cleans and matches that information so customers can search for people, verify identities, and spot risk more easily. Its main products are cloud-based investigative and screening tools sold through its own platform.
The company mainly serves businesses and professionals that need to check who they are dealing with, such as lenders, insurers, collections firms, law firms, investigators, and some real estate and public-safety users. These customers use Red Violet’s tools to detect fraud, locate people, connect related records, and support due diligence and investigations. The company makes money by charging for software access, subscriptions, and data lookups.
What makes Red Violet different is that it sits in the middle of a messy data chain. It does not just resell records; it organizes large amounts of fragmented information into products that are easier to use in everyday decision-making. That gives it a focused role in identity verification, fraud prevention, and investigative search.
Record quarter: Red Violet posted record second-quarter revenue of $26.7 million, up 23% year over year, with records across gross margin, EBITDA, net income and cash flow.
Customer growth: The company added a record 447 IDI customers in the quarter and ended with 10,869 total IDI customers, signaling accelerating adoption across its identity intelligence platform.
FOREWARN expands: FOREWARN added 25,493 users to end the quarter at 443,173 users, while management highlighted its expansion into home health care as the product's most significant vertical move yet.
Margins strong: Adjusted gross margin hit 86% and adjusted EBITDA margin reached 42%; management still expects full-year adjusted EBITDA margin to land in the high 30s because of seasonality.
Capital and M&A: Red Violet raised about $109 million in net proceeds from a public offering and said it will use the capital for working capital, general purposes and potential strategic acquisitions.
AI and demand: Management said AI is intensifying demand for identity intelligence, and described its platform as purpose-built for this moment rather than retrofitting AI onto legacy systems.