Red Violet Inc. Reports 26% Revenue Increase to $22M and 93% Rise in Net Income for Q1 2025; EPS Reaches $0.24

Reuters
05-08
Red Violet Inc. Reports 26% Revenue Increase to $22M and 93% Rise in Net Income for Q1 2025; EPS Reaches $0.24

Red Violet Inc. $(RDVT)$ reported its financial results for the first quarter ended March 31, 2025. The company achieved a 26% increase in total revenue, reaching a record $22.0 million compared to the same period in 2024. Gross profit surged 37% to $15.8 million, with gross margin improving to 72% from 66%. Adjusted gross profit rose 33% to $18.3 million, and the adjusted gross margin increased to 83% from 79%. Net income witnessed a significant growth of 93%, amounting to $3.4 million, resulting in earnings of $0.25 per basic share and $0.24 per diluted share. The net income margin improved to 16% from 10%. Adjusted EBITDA increased by 47% to $8.4 million, with the adjusted EBITDA margin rising to 38% from 32%. Adjusted net income went up by 53% to $4.8 million, translating to adjusted earnings of $0.35 per basic share and $0.33 per diluted share. The company reported a 16% increase in net cash provided by operating activities, totaling $5.0 million. As of March 31, 2025, Red Violet's cash and cash equivalents stood at $34.6 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Red Violet Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9446386-en) on May 07, 2025, and is solely responsible for the information contained therein.

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