Red Violet reports Q4 revenue $11.3M (+26% YoY); full-year net income $0.7M vs. loss $6.8M

Red Violet, Inc.

Total revenue for 2021 up 27% to $44.0M; GAAP net income of $0.7M vs. loss of $6.8M in 2020.
Q4 revenue $11.3M (+26% YoY); adjusted EBITDA $1.3M (+9%); cash from operations $2.0M.
Company raised $21.0M via sale of 552,915 shares at $38.00 per share from existing investors.
Three-year organic revenue target of $100M+ with adjusted EBITDA margin ~40% and adjusted gross margin >80%.
IDI customers up 14% to 6,548; FOREWARN users up 70% to 82,419; 47 customers with >$100k revenue vs 34.

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