Red Violet Q2 revenue up 54% to record $10.9M; net income of $1.8M vs prior year loss

Red Violet, Inc.

2021-Q2 EPS reported $0.09 revenue$21,096,000

Revenue of $10.9M (+54% YoY); platform revenue $10.6M (+54%).
Net income $1.8M (incl. $2.2M PPP loan forgiveness gain) vs loss of $2.5M in prior year.
Adjusted EBITDA $3.1M, up 245% YoY; gross margin improved to 63% from 50%; cash from ops $2.3M.
Added 230+ idiCORE customers (6,141 total) and 8,700+ FOREWARN users (67,578 total); 150+ REALTOR associations contracted.
Appointed Lisa Stanton to Board; added Jim Greenwell (GM Identity) and James Frasche (EVP Property Solutions).

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