Red Violet Q2 revenue up 15% to $12.5M, net loss of $0.2M vs prior year net income; adjusted EBITDA down 6% to $2.9M

Red Violet, Inc.

2022-Q2 EPS reported -$0.01 revenue$25,223,000

Total revenue $12.5M, up 15% YoY; platform revenue $12.2M (+15%), services revenue $0.3M (+6%).
Gross profit $8.0M (+16%); adjusted gross profit $9.6M (+17%); gross margin 64% vs 63%, adjusted gross margin 77% vs 75%.
Net loss $0.2M vs net income $1.8M in prior year (which included $2.2M CARES Act loan forgiveness gain).
Adjusted EBITDA $2.9M (-6% YoY); cash from operations $2.5M (+10%); cash $32.3M.
Added 225 IDI customers (total 6,817); FOREWARN users >100k; released idiTRACE SSN trace solution.

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