{"product_id":"rdvt-vrio-analysis","title":"Red Violet, Inc. (RDVT): VRIO Analysis [Mar-2026 Updated]","description":"\u003cbr\u003e\u003cp\u003eUnlock the secrets to Red Violet, Inc. (RDVT)'s market dominance by diving into this essential VRIO Analysis. We rigorously test whether its core assets are truly Valuable, Rare, Inimitable, and Organized enough to secure a lasting competitive advantage. Discover the distilled summary of its strengths and weaknesses - the key to its future performance - by reading on below.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: Massive, Unified Data Asset\n\u003c\/h2\u003e\n\n\u003cp\u003eYou're looking at Red Violet, Inc. (RDVT) and trying to figure out if their data asset is just a good feature or a true competitive fortress. Honestly, the numbers from their Q3 2025 report suggest it’s the latter, built on a foundation that took years to lay down.\u003c\/p\u003e\n\n\u003cp\u003eThe core value here is the sheer utility of their aggregated intelligence. This isn't just a list of names; it’s the raw material - entities, relationships, and events - that lets clients slash fraud losses and make customer onboarding smooth, which is what they call frictionless commerce. Their platform is clearly delivering, evidenced by a record adjusted gross margin of 84% in Q3 2025, showing the high value captured from this data.\u003c\/p\u003e\n\n\u003ch3\u003eValue: Identity Intelligence Fuel\u003c\/h3\u003e\n\u003cp\u003eThe data asset is the engine for their identity intelligence solutions, like IDI and FOREWARN. It allows Red Violet, Inc. to provide real-time insights for risk mitigation and fraud detection. This capability is essential for their clients' daily workflow.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eEnables fraud reduction and secure transactions.\u003c\/li\u003e\n\u003cli\u003ePowers solutions for identity verification and due diligence.\u003c\/li\u003e\n\u003cli\u003eSupports a business model with 75% of revenue being contractual.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ch3\u003eRarity: Scale and Unification\u003c\/h3\u003e\n\u003cp\u003eYes, the sheer scale and unification of public-record, proprietary, and publicly-available data is rare in the market. While competitors like TransUnion are major players, Red Violet, Inc. is ranked #1 in Digital IDV, suggesting a unique market position based on this asset. Building this level of comprehensive profile data is not something a new entrant can just buy off the shelf.\u003c\/p\u003e\n\n\u003ch3\u003eImitability: Time and Capital Investment\u003c\/h3\u003e\n\u003cp\u003eIt's difficult to replicate because building this massive, clean, and unified dataset takes significant time and capital investment. Think about the history: Red Violet, Inc. spun off from Cogint, Inc. with a pre-existing, decades-old data repository. That head start is a massive barrier. What this estimate hides is the ongoing, massive cost of data licensing and cleaning required to keep it current.\u003c\/p\u003e\n\n\u003ch3\u003eOrganization: The CORE™ Platform\u003c\/h3\u003e\n\u003cp\u003eYes, the CORE™ platform is explicitly designed to assimilate and structure these billions of disparate records. This cloud-native architecture is key to turning raw data into actionable intelligence efficiently. The operational success backs this up: Q3 2025 saw net cash provided by operating activities hit $10.2 million, a 40% increase year-over-year.\u003c\/p\u003e\n\u003cp\u003eHere’s a quick look at the operational scale driving this:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (as of Q3 2025)\u003c\/th\u003e\n\u003cth\u003eContext\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eIDI Customers\u003c\/td\u003e\n\u003ctd\u003eOver \u003cstrong\u003e9,800\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eAdded over 300 in Q3 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFOREWARN Users\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e346,671\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of end of Q2 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTTM Revenue\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e$86.42 Million\u003c\/strong\u003e USD\u003c\/td\u003e\n\u003ctd\u003eAs of Q3 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e39%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eRecord margin for Q3 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003ch3\u003eCompetitive Advantage: Compounding Moat\u003c\/h3\u003e\n\u003cp\u003eThe advantage is sustained because the data asset grows with use, creating a compounding moat. Every new data point ingested and linked by the CORE™ platform makes the entire dataset more valuable for all users, a classic network effect in data. This is why their gross revenue retention remained strong at 96%. They are still small in the estimated $3.28 billion 2025 US Identity Verification Market at about 2.6% share, meaning the growth runway is significant if they maintain this structural advantage.\u003c\/p\u003e\n\u003cp\u003eFinance: draft the Q4 2025 cash flow projection incorporating the $7.3 million in Q3 2025 free cash flow by Friday.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: CORE™ Identity Intelligence Platform\n\u003c\/h2\u003e\n\u003cp\u003eThe CORE™ Identity Intelligence Platform underpins Red Violet's offerings, including idiCORE and FOREWARN.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eThe platform transforms massive datasets into real-time, actionable intelligence for verification, risk mitigation, and compliance.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe company's AI\/ML-driven identity intelligence platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes.\u003c\/li\u003e\n\u003cli\u003eThe platform's solutions are used for purposes including risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eIts cloud-native, data-agnostic nature and speed are cited as key differentiators.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eFor the trailing twelve months (TTM) ended Q3 2025, Red Violet, Inc. generated approximately $\\mathbf{\\$86.43 \\text{ million}}$ in total revenue, reflecting a $\\mathbf{22.27\\%}$ growth rate over the prior year period.\u003c\/li\u003e\n\u003cli\u003eContractual revenue accounted for $\\mathbf{75\\%}$ of the total revenue in Q3 2025, indicating sticky customer relationships.\u003c\/li\u003e\n\u003cli\u003eQ1 2025 total revenue reached a record $\\mathbf{\\$22 \\text{ million}}$, a $\\mathbf{26\\%}$ increase Year-over-Year (YoY).\u003c\/li\u003e\n\u003cli\u003eRecord Adjusted Gross Margin reached $\\mathbf{83\\%}$ in Q1 2025.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003ePlatform\/Segment\u003c\/th\u003e\n\u003cth\u003eLatest Reported Figure\u003c\/th\u003e\n\u003cth\u003ePeriod\/Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenue\u003c\/td\u003e\n\u003ctd\u003eCompany TTM\u003c\/td\u003e\n\u003ctd\u003e$\\mathbf{\\$86.42 \\text{M}}$\u003c\/td\u003e\n\u003ctd\u003eAs of Q3 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIDI Billable Customers\u003c\/td\u003e\n\u003ctd\u003eIDI (CORE Platform)\u003c\/td\u003e\n\u003ctd\u003e$\\mathbf{9,549}$\u003c\/td\u003e\n\u003ctd\u003eAs of June 30, 2025 (Q2 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFOREWARN Users\u003c\/td\u003e\n\u003ctd\u003eFOREWARN\u003c\/td\u003e\n\u003ctd\u003e$\\mathbf{346,671}$\u003c\/td\u003e\n\u003ctd\u003eAs of June 30, 2025 (Q2 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCustomers $\u0026gt;\\$100k$ Annual Revenue\u003c\/td\u003e\n\u003ctd\u003eEnterprise\u003c\/td\u003e\n\u003ctd\u003eClose to $\\mathbf{110}$\u003c\/td\u003e\n\u003ctd\u003eTrailing 12-month basis as of Q1 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFull Year Revenue\u003c\/td\u003e\n\u003ctd\u003eCompany\u003c\/td\u003e\n\u003ctd\u003e$\\mathbf{\\$60.2 \\text{ million}}$\u003c\/td\u003e\n\u003ctd\u003eFor the year ended December 31, 2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFull Year Net Income\u003c\/td\u003e\n\u003ctd\u003eCompany\u003c\/td\u003e\n\u003ctd\u003e$\\mathbf{\\$13.5 \\text{ million}}$\u003c\/td\u003e\n\u003ctd\u003eFor the year ended December 31, 2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eCostly, requiring deep expertise in large-scale data engineering and AI\/ML integration.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe largest data supplier accounted for $\\mathbf{46\\%}$ of total data acquisition costs as of Q2 2025.\u003c\/li\u003e\n\u003cli\u003eSales and marketing expenses jumped $\\mathbf{46\\%}$ in Q1 2025 due to hiring, indicating investment in scalability.\u003c\/li\u003e\n\u003cli\u003eFor the year ended December 31, 2023, Net Income was $\\mathbf{\\$13.5 \\text{ million}}$.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eYes, the platform is purpose-built for the enterprise yet flexible for various organization sizes.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe IDI Billable Customer Base increased by $\\mathbf{315}$ customers sequentially from Q4 2024, ending Q1 2025 at $\\mathbf{9,241}$ customers.\u003c\/li\u003e\n\u003cli\u003eFOREWARN added $\\mathbf{21,918}$ users in Q1 2025, bringing the total to $\\mathbf{325,336}$ users.\u003c\/li\u003e\n\u003cli\u003eThe FOREWARN platform has over $\\mathbf{545}$ realtor associations contracted across the U.S.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eTemporary, as technology platforms can eventually be matched, though the data integration is the real lock-in.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eAdjusted EBITDA Margin hit a record $\\mathbf{38\\%}$ in Q1 2025.\u003c\/li\u003e\n\u003cli\u003eThe company's Total Debt was $\\mathbf{\\$2.86 \\text{M}}$ against Total Cash of $\\mathbf{\\$45.35 \\text{M}}$ (TTM data).\u003c\/li\u003e\n\u003cli\u003eThe P\/E Ratio (ttm) was $\\mathbf{72.16}$ and Forward P\/E was $\\mathbf{49.04}$ (TTM data).\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: IDI™ Brand and Solutions Suite\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Provides established, actionable intelligence solutions for the risk management industry, including identity verification and due diligence. The IDI™ solution demonstrates consistent customer base expansion, a key indicator of perceived value in the market.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eQ4 2023\u003c\/th\u003e\n\u003cth\u003eFY 2024 End\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eIDI Billable Customers\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e7,875\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e8,926\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSequential Customer Addition (Q4)\u003c\/td\u003e\n\u003ctd\u003eOver 100\u003c\/td\u003e\n\u003ctd\u003e183\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e No, many firms offer risk\/ID verification, but the specific data linkage is unique.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Medium, as competitors can build similar product interfaces, but not with the underlying data.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, it is a primary marketing channel, showing clear go-to-market focus. The reliance on recurring revenue streams indicates organizational alignment with long-term customer relationships.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eRevenue from customers with pricing contracts was \u003cstrong\u003e79%\u003c\/strong\u003e of total revenue for the year ended December 31, 2023.\u003c\/li\u003e\n\u003cli\u003eRevenue from customers with pricing contracts was \u003cstrong\u003e75%\u003c\/strong\u003e of total revenue for the year ended December 31, 2022.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eYear Ended Dec 31, 2023\u003c\/th\u003e\n\u003cth\u003eYear Ended Dec 31, 2022\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenue\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$60.2 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$53.3 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue from Pricing Contracts (%)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e79%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e75%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary, relying on continuous product improvement to stay ahead of feature parity.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: FOREWARN® Brand and User Network\n\u003c\/h2\u003e\n\u003ch3\u003eValue\u003c\/h3\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eEnables real-time verification for safety and preparedness.\u003c\/li\u003e\n\u003cli\u003eStrong in the real estate sector with over \u003cstrong\u003e500\u003c\/strong\u003e contracted REALTOR® Associations as of the end of Q3 2024.\u003c\/li\u003e\n\u003cli\u003eAdded over \u003cstrong\u003e21,091\u003c\/strong\u003e users to FOREWARN® during the third quarter of 2024.\u003c\/li\u003e\n\u003cli\u003eTotal FOREWARN® users reached \u003cstrong\u003e284,967\u003c\/strong\u003e as of September 30, 2024.\u003c\/li\u003e\n\u003cli\u003eThe service analyzes billions of data points to mitigate risks.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ch3\u003eRarity\u003c\/h3\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eDeep penetration into specific professional safety verticals is specialized.\u003c\/li\u003e\n\u003cli\u003eContractual relationships with major state and local associations demonstrate unique access.\u003c\/li\u003e\n\u003cli\u003eThe Florida Realtors® contract covers \u003cstrong\u003e238,000\u003c\/strong\u003e members.\u003c\/li\u003e\n\u003cli\u003eThe MetroTex Association of REALTORS® partnership covers \u003cstrong\u003e25,000+\u003c\/strong\u003e members.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eAssociation\/Group\u003c\/th\u003e\n\u003cth\u003eMember Count\/Scope\u003c\/th\u003e\n\u003cth\u003eDate Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal FOREWARN® Users\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e284,967\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eQ3 2024 End\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eContracted REALTOR® Associations\u003c\/td\u003e\n\u003ctd\u003eOver \u003cstrong\u003e500\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003eNov 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFlorida Realtors®\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e238,000\u003c\/strong\u003e members\u003c\/td\u003e\n\u003ctd\u003eSept 2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetroTex Association of REALTORS®\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e25,000+\u003c\/strong\u003e members\u003c\/td\u003e\n\u003ctd\u003eNov 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNEXUS Association of REALTORS®\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e5,000+\u003c\/strong\u003e members\u003c\/td\u003e\n\u003ctd\u003eMay 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHoward County Association of REALTORS®\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e2,000+\u003c\/strong\u003e members\u003c\/td\u003e\n\u003ctd\u003eSept 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNine NC REALTOR® Associations (Combined)\u003c\/td\u003e\n\u003ctd\u003eOver \u003cstrong\u003e8,000+\u003c\/strong\u003e members\u003c\/td\u003e\n\u003ctd\u003eSept 2022\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003ch3\u003eImitability\u003c\/h3\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eDifficult due to the network effect created by onboarding thousands of associations and users.\u003c\/li\u003e\n\u003cli\u003eThe platform analyzes billions of data points.\u003c\/li\u003e\n\u003cli\u003eThe company reported record Q3 2024 revenue of \u003cstrong\u003e$19.1 million\u003c\/strong\u003e, a \u003cstrong\u003e20%\u003c\/strong\u003e increase year-over-year.\u003c\/li\u003e\n\u003cli\u003eQ3 2024 Adjusted EBITDA was \u003cstrong\u003e$6.7 million\u003c\/strong\u003e, a \u003cstrong\u003e25%\u003c\/strong\u003e increase.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ch3\u003eOrganization\u003c\/h3\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eYes, the company actively reports user growth, showing focus on expanding this network.\u003c\/li\u003e\n\u003cli\u003eAdded \u003cstrong\u003e266\u003c\/strong\u003e new customers to its IDI™ platform in Q3 2024.\u003c\/li\u003e\n\u003cli\u003eGross profit increased \u003cstrong\u003e28%\u003c\/strong\u003e to \u003cstrong\u003e$13.4 million\u003c\/strong\u003e in Q3 2024.\u003c\/li\u003e\n\u003cli\u003eGross margin increased to \u003cstrong\u003e70%\u003c\/strong\u003e in Q3 2024 from \u003cstrong\u003e66%\u003c\/strong\u003e in Q3 2023.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ch3\u003eCompetitive Advantage\u003c\/h3\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eSustained, due to the high switching costs associated with losing access to the established network.\u003c\/li\u003e\n\u003cli\u003eThe cost for an individual agent to subscribe is cited as \u003cstrong\u003e$20\u003c\/strong\u003e per month or \u003cstrong\u003e$240\u003c\/strong\u003e per year.\u003c\/li\u003e\n\u003cli\u003eThe company's estimated full-year 2024 revenue is \u003cstrong\u003e$75.19 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: High Contractual Revenue Stability\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Provides predictable cash flow, which is crucial for funding R\u0026amp;D and growth initiatives.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e No, many SaaS\/data firms have contracts, but the level is high.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e No, competitors can offer similar contract terms to secure revenue.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, the company reports that approximately \u003cstrong\u003e75%\u003c\/strong\u003e of revenue is contractual.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary, as it reflects sales execution rather than a unique asset.\u003c\/p\u003e\n\n\u003cp\u003eThe stability is evidenced by the proportion of revenue derived from pricing contracts, which are generally annual or longer-term agreements with auto-renewal. For the years ended December 31, \u003cstrong\u003e2023\u003c\/strong\u003e and \u003cstrong\u003e2022\u003c\/strong\u003e, \u003cstrong\u003e79%\u003c\/strong\u003e and \u003cstrong\u003e75%\u003c\/strong\u003e of total revenue, respectively, was attributable to customers with pricing contracts. An analysis from mid-2025 indicated Pricing contracts represented \u003cstrong\u003e77%\u003c\/strong\u003e of total revenue, with Transactional Customers accounting for the remaining \u003cstrong\u003e23%\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003ePeriod End Date\u003c\/th\u003e\n\u003cth\u003eRevenue from Pricing Contracts (%)\u003c\/th\u003e\n\u003cth\u003eRevenue from Transactional Customers (%)\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eDecember 31, \u003cstrong\u003e2023\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e79%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e21%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDecember 31, \u003cstrong\u003e2022\u003c\/strong\u003e\n\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e75%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e25%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eQ1 \u003cstrong\u003e2025\u003c\/strong\u003e (Analysis Estimate)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e77%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e23%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003eRecent financial performance demonstrates the operational strength supported by this revenue structure:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eNet cash provided by operating activities increased \u003cstrong\u003e40%\u003c\/strong\u003e to \u003cstrong\u003e$10.2 million\u003c\/strong\u003e for the quarter ended September 30, \u003cstrong\u003e2025\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eTotal revenue for the quarter ended September 30, \u003cstrong\u003e2025\u003c\/strong\u003e was a record \u003cstrong\u003e$23.1 million\u003c\/strong\u003e, an increase of \u003cstrong\u003e21%\u003c\/strong\u003e year-over-year.\u003c\/li\u003e\n\u003cli\u003eTotal revenue for the quarter ended March 31, \u003cstrong\u003e2025\u003c\/strong\u003e reached a record \u003cstrong\u003e$22 million\u003c\/strong\u003e, representing a substantial \u003cstrong\u003e26%\u003c\/strong\u003e increase year-over-year.\u003c\/li\u003e\n\u003cli\u003eNet income for the quarter ended March 31, \u003cstrong\u003e2025\u003c\/strong\u003e showed a \u003cstrong\u003e93%\u003c\/strong\u003e increase compared to the three months ended March 31, \u003cstrong\u003e2024\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eAdjusted Gross Profit for Q1 \u003cstrong\u003e2025\u003c\/strong\u003e was a record \u003cstrong\u003e$18.3 million\u003c\/strong\u003e, up \u003cstrong\u003e33%\u003c\/strong\u003e year-over-year.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: Exceptional Cost Structure and Margin Profile\n\u003c\/h2\u003e\n\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Allows for high profitability on incremental sales, driving strong cash generation.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Yes, operating on a step-fixed cost model means nearly 100% contribution margin for additional revenue.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Difficult, as this structure is baked into the technology architecture and operational scale.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, management highlights this efficiency in financial reporting, showing they manage it well.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained, as long as the platform remains scalable without proportional cost increases.\u003c\/p\u003e\n\n\u003cp\u003eRecent financial metrics demonstrate high and expanding profitability indicative of a scalable cost structure:\u003c\/p\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eQ1 2025 (Period Ending March 31, 2025)\u003c\/td\u003e\n\u003ctd\u003eQ2 2025 (Record)\u003c\/td\u003e\n\u003ctd\u003eFY 2023 (Period Ending December 31, 2023)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted Gross Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e83%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e84%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e78%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e38%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e27%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue Growth (YoY)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e26%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e14%\u003c\/strong\u003e (\u003cstrong\u003e21%\u003c\/strong\u003e underlying)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e13%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Income Growth (YoY)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e93%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003eReported Net Income of \u003cstrong\u003e$13.5 million\u003c\/strong\u003e (up from \u003cstrong\u003e$0.6 million\u003c\/strong\u003e in FY 2022)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003ePlatform scale metrics supporting organizational efficiency:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eQ1 2025 ended with \u003cstrong\u003e9,241\u003c\/strong\u003e IDI customers.\u003c\/li\u003e\n\u003cli\u003eQ1 2025 ended with \u003cstrong\u003e325,336\u003c\/strong\u003e FOREWARN users.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eFurther margin data points:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eTTM Gross Margin as of September 30, 2025, was reported at \u003cstrong\u003e83.50%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eFY 2023 Total Revenue was \u003cstrong\u003e$60.2 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eQ1 2025 Revenue was \u003cstrong\u003e$22.0 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: Proprietary Analytical Capabilities (AI\/ML)\n\u003c\/h2\u003e\n\u003cp\u003eProprietary Analytical Capabilities (AI\/ML)\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e These capabilities are what turn raw data into the specific, high-value intelligence products customers pay for.\u003c\/p\u003e\n\u003cp\u003eThe platform is described as leveraging AI\/ML-powered analytics to generate relevant insights in real time. The CORE™ platform analyzes billions of data points in real time, delivering greater intelligence.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003cth\u003ePeriod\/Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenue\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$21.8 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eQ2 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGross Profit\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$15.7 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eQ2 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIDI Billable Customers\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e9,549\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of June 30, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFOREWARN Users\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e346,671\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eAs of June 30, 2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Medium, as AI\/ML is common, but the application to this specific, massive identity graph is specialized.\u003c\/p\u003e\n\u003cp\u003eThe technology applies analytical capabilities to a massive, unified data asset, which is described as a comprehensive identity graph of consumer identity insights.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eTrailing Twelve Months (TTM) Revenue (ended Q3 2025): Approximately \u003cstrong\u003e$86.43 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eQ2 2025 Total Revenue Increase Year-over-Year (YoY): \u003cstrong\u003e14%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eIDI Customer Additions in Q2 2025: 308 customers.\u003c\/li\u003e\n\u003cli\u003eFOREWARN User Additions in Q2 2025: 21,335 users.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Difficult, requiring specialized talent and years of model training on their unique data.\u003c\/p\u003e\n\u003cp\u003eThe solutions are built upon proprietary algorithms and analytic processes that unify differentiated owned data assets. The CORE™ platform is described as the most advanced identity intelligence platform on the market.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, they are actively exploring AI to enhance data gathering and operational efficiency.\u003c\/p\u003e\n\u003cp\u003eThe company leverages its AI\/ML-powered technology platform to enable relying parties to verify identities and manage risk. The company is investing in new solutions like 'Know Your Business' (KYB) and driving more risk signals from its data.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary, but the lead time in model refinement offers a window of advantage.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: Strong Financial Performance Metrics (2025)\n\u003c\/h2\u003e\n\u003cp\u003e\n\u003ch\u003eValue\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nOperational success is demonstrated by record financial achievements, supporting capital flexibility through strong cash generation and capital return initiatives.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eTotal revenue increased \u003cstrong\u003e21%\u003c\/strong\u003e to a record \u003cstrong\u003e$23.1 million\u003c\/strong\u003e for the three months ended September 30, 2025.\u003c\/li\u003e\n\u003cli\u003eNet income increased \u003cstrong\u003e145%\u003c\/strong\u003e to \u003cstrong\u003e$4.2 million\u003c\/strong\u003e, resulting in a Net Income Margin of \u003cstrong\u003e18%\u003c\/strong\u003e, up from \u003cstrong\u003e9%\u003c\/strong\u003e year-over-year.\u003c\/li\u003e\n\u003cli\u003eAdjusted EBITDA increased \u003cstrong\u003e35%\u003c\/strong\u003e to a record \u003cstrong\u003e$9.0 million\u003c\/strong\u003e, with an Adjusted EBITDA Margin of \u003cstrong\u003e39%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eNet cash provided by operating activities increased \u003cstrong\u003e40%\u003c\/strong\u003e to \u003cstrong\u003e$10.2 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eCash and cash equivalents were \u003cstrong\u003e$45.4 million\u003c\/strong\u003e as of September 30, 2025.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003c\/p\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric (Q3 2025 vs Q3 2024)\u003c\/td\u003e\n\u003ctd\u003eQ3 2025 Value\u003c\/td\u003e\n\u003ctd\u003eYear-over-Year Change\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenue\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$23.1 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e+21%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$9.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e+35%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGross Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e73%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eUp from 70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted Gross Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e84%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eUp from 83%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Income\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$4.2 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e+145%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Cash from Operating Activities\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$10.2 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e+40%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003e\n\u003ch\u003eRarity\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nNo, the financial results are public information, but the quality of the results, including the \u003cstrong\u003e145%\u003c\/strong\u003e increase in Net Income and \u003cstrong\u003e35%\u003c\/strong\u003e increase in Adjusted EBITDA, is notable.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003ch\u003eImitability\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nNo, competitors can potentially achieve similar financial metrics with a superior or more scalable business model, despite RDVT's current strong performance.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003ch\u003eOrganization\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nYes, the organization is structured to capitalize on performance, evidenced by:\n\u003c\/p\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eQ3 2025 revenue hitting a record \u003cstrong\u003e$23.1 million\u003c\/strong\u003e, with Adjusted EBITDA around \u003cstrong\u003e$9.0 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eExpansion of the Stock Repurchase Program authorization by \u003cstrong\u003e$15.0 million\u003c\/strong\u003e, bringing the total authorized to \u003cstrong\u003e$30.0 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eIDI platform customer base added \u003cstrong\u003e304\u003c\/strong\u003e customers, ending the quarter with \u003cstrong\u003e9,853\u003c\/strong\u003e customers.\u003c\/li\u003e\n\u003cli\u003eFOREWARN service added \u003cstrong\u003e25,538\u003c\/strong\u003e users, ending the quarter with \u003cstrong\u003e372,209\u003c\/strong\u003e users.\u003c\/li\u003e\n\u003cli\u003eOver \u003cstrong\u003e590\u003c\/strong\u003e REALTOR® Associations throughout the U.S. are now contracted to use FOREWARN.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nTemporary, as the reported record performance can fluctuate quarter-to-quarter, with management noting typical Q4 seasonality.\n\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eRed Violet, Inc. (RDVT) - VRIO Analysis: Intellectual Property Portfolio (Trademarks \u0026amp; Trade Secrets)\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eIntellectual Property Portfolio (Trademarks \u0026amp; Trade Secrets)\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Protects brand identity and the confidential, proprietary nature of the data processing methods. The IP is embodied in confidential and proprietary technology and data, trademarked brands, original content, and domain names.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Medium, many tech firms have trademarks, but the trade secrets around data structuring are key. The company maintains an extensive portfolio of perpetual common law and federally-registered trademark rights across several brands.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Difficult, trade secrets are protected by internal controls and operational secrecy. The company has also sought protection and registration of certain brands and trademarks internationally, such as in Europe and Canada.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e Yes, they maintain an extensive portfolio of registered and common law trademark rights.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained, as long as the company maintains strict control over its core processes.\u003c\/p\u003e\n\u003cp\u003eThe company's proprietary CORE™ platform's ability to perform real-time data fusion is cited as a structural advantage.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eQ4 2024 Actual\u003c\/th\u003e\n\u003cth\u003eQ3 2025 Actual\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenue\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$19.6 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$23.1 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTrailing Twelve Month (TTM) Revenue\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$86.42 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCash Flow from Operations\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$6.7 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Income\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$0.9 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$4.2 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$4.5 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$9.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eFinance: Q4 2025 Cash Flow Projection Incorporating New $150 Million Shelf Filing\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eThe filing of the $150,000,000 mixed shelf occurred on November 19, 2025. Proceeds are intended for general corporate purposes, including:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eWorking capital.\u003c\/li\u003e\n\u003cli\u003eCapital expenditures.\u003c\/li\u003e\n\u003cli\u003ePotential repurchases or redemptions of securities.\u003c\/li\u003e\n\u003cli\u003ePossible acquisitions or business expansion.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eThe Q4 2024 Cash from operating activities was $6.7 million, and the Full Year 2024 Cash from operating activities was $24.0 million.\u003c\/p\u003e\n\u003cp\u003eAs of November 17, 2025, Red Violet had 14,088,231 shares of Common Stock outstanding.\u003c\/p\u003e","brand":"dcf.fm","offers":[{"title":"Default Title","offer_id":45516239765653,"sku":"rdvt-vrio-analysis","price":7.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/5189\/0837\/files\/rdvt-vrio-analysis.png?v=1740210063","url":"https:\/\/dcf-model.com\/pt\/products\/rdvt-vrio-analysis","provider":"AI-Powered Discounted Cash Flow Model Templates","version":"1.0","type":"link"}