Red Violet reports record Q1 revenue of $12.7M, net income $0.1M; authorizes $5M buyback

Red Violet, Inc.

2022-Q1 EPS reported $0.01 revenue$12,729,000

Revenue $12.7M (+25% YoY); gross profit $8.1M (29% increase); net income $0.1M vs loss of $0.6M.
Adjusted EBITDA $3.2M (+12% YoY); operating cash flow $2.4M (+97%).
Added 44 IDI customers (6,592 total) and 9,071 FOREWARN users (91,490 total).
Board authorized $5M share repurchase program; no expiration date.
Released idiCORE Mobile app for investigative and fraud prevention.

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