A Business at a Glance
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This business description should be read in conjunction with our audited consolidated financial statements and accompanying notes thereto appearing elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”), which are incorporated herein by this reference. Company Overview Red Violet, Inc. (“we,” “us,” “our,” “red violet,” or the “Company”), a Delaware corporation, is dedicated to making the world a safer place and reducing the cost of doing business. We build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets, and their interrelationships.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 86M | 75M | 60M | 53M | 44M | 35M |
| Net Income | 11M | 7.0M | 14M | 616K | 655K | -6.8M |
| EPS | $0.78 | $0.50 | $0.96 | $0.04 | $0.05 | $-0.57 |
| Free Cash Flow | 29M | 24M | 15M | 12M | 8.7M | 6.4M |
| ROIC | 17.8% | 11.4% | 15.7% | 0.8% | 0.9% | -15.1% |
| Gross Margin | - | 81.4% | 78.3% | - | - | - |
| Debt/Equity | 0.00 | 0.14 | 0.08 | 0.09 | 0.00 | 0.05 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 12M | 7.9M | 2.5M | 361K | -1.3M | -6.8M |
| Operating Margin | 13.8% | 10.5% | 4.2% | 0.7% | -3.0% | -19.8% |
| ROE | 11.0% | 8.1% | 15.7% | 0.9% | 1.2% | -15.7% |
| Shares Outstanding | 14M | 14M | 14M | 15M | 13M | 12M |
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | N/A | 16M | 30M | 35M | 44M | 53M | 60M | 75M | 86M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | 78.3% | 81.4% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -22M | -7.5M | -11M | -6.8M | -1.3M | 361K | 2.5M | 7.9M | 12M |
| Op. Margin | N/A | -46.0% | -37.0% | -19.8% | -3.0% | 0.7% | 4.2% | 10.5% | 13.8% |
| Net Income | -22M | -6.9M | -11M | -6.8M | 655K | 616K | 14M | 7.0M | 11M |
| Net Margin | N/A | -42.1% | -36.6% | -19.7% | 1.5% | 1.2% | 22.5% | 9.3% | 13.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | -95.8% | -18.9% | -26.3% | -15.1% | 0.9% | 0.8% | 15.7% | 11.4% | 17.8% |
| ROE | -121.2% | -18.9% | -26.3% | -15.7% | 1.2% | 0.9% | 15.7% | 8.1% | 11.0% |
| ROA | -85.6% | -17.2% | -22.7% | -13.1% | 1.0% | 0.8% | 14.5% | 7.3% | 10.0% |
| Cash Flow | |||||||||
| Op. Cash Flow | -10M | -8.1M | 1.6M | 6.5M | 8.9M | 12M | 15M | 24M | 29M |
| Free Cash Flow | -11M | -8.1M | 1.6M | 6.4M | 8.7M | 12M | 15M | 24M | 29M |
| Owner Earnings | -14M | -11M | -11M | -5.8M | -3.1M | 279K | 1.3M | 8.5M | 14M |
| CapEx | 515K | 90K | 90K | 154K | 280K | 373K | 122K | 169K | 456K |
| Maint. CapEx | 1.1M | 2.0M | 2.9M | 4.2M | 5.4M | 6.7M | 8.4M | 9.6M | 9.6M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.1M | 2.0M | 2.9M | 4.2M | 5.4M | 6.7M | 8.4M | 9.6M | 9.6M |
| CapEx/OCF | N/A | N/A | 5.5% | 2.4% | 3.1% | 3.0% | 0.8% | 0.7% | 1.6% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 878K | 3.7M | 5.9M | 5.9M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.3% | 1.3% | 1.2% | 1.1% |
| Stock-Based Comp | 2.9M | 709K | 9.9M | 8.1M | 6.6M | 5.5M | 5.4M | 5.9M | 5.9M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||
| Net Debt | N/A | N/A | -12M | -11M | -34M | N/A | N/A | N/A | -45M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 45M |
| Long-Term Debt | N/A | N/A | 0 | 1.7M | 0 | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.42 | 0.10 | 0.00 | 0.05 | 0.00 | 0.09 | 0.08 | 0.14 | 0.00 |
| Interest Coverage | N/A | -89.2 | -82.4 | -379.5 | -187.9 | 1.0 | 1.9 | 5.7 | 5.7 |
| Equity | 18M | 36M | 42M | 43M | 69M | 71M | 86M | 87M | 102M |
| Total Assets | 25M | 40M | 49M | 52M | 74M | 77M | 93M | 99M | 112M |
| Total Liabilities | 7.4M | 3.5M | 6.8M | 8.6M | 4.9M | 6.3M | 6.9M | 12M | 2.9M |
| Intangibles | 5.2M | 5.2M | 5.2M | 5.2M | 5.2M | 5.2M | 5.2M | 5.2M | 5.2M |
| Retained Earnings | N/A | -4.8M | -16M | -23M | -22M | -21M | -7.9M | -870K | -870K |
| Working Capital | N/A | 9.6M | 12M | 12M | 35M | 33M | 35M | 36M | 36M |
| Current Assets | 2.3M | 13M | 16M | 17M | 39M | 38M | 40M | 46M | 46M |
| Current Liabilities | N/A | 3.5M | 4.3M | 5.0M | 3.5M | 5.4M | 4.9M | 10M | 10M |
| Per Share Data | |||||||||
| EPS | -2.09 | -0.67 | -1.03 | -0.57 | 0.05 | 0.04 | 0.96 | 0.50 | 0.78 |
| Owner EPS | -1.40 | -1.05 | -1.04 | -0.48 | -0.23 | 0.02 | 0.09 | 0.60 | 0.99 |
| Book Value | 1.72 | 3.54 | 3.91 | 3.63 | 5.30 | 4.62 | 6.11 | 6.19 | 7.28 |
| Cash Flow/Share | -1.01 | -0.79 | 0.15 | 0.55 | 0.68 | 0.81 | 1.07 | 1.71 | 1.49 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 10.3M | 10.3M | 10.8M | 12.0M | 13.1M | 15.4M | 14.1M | 14.0M | 14.0M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 818.6 | 563.6 | 20.9 | 72.6 | 47.3 |
| P/FCF | N/A | N/A | 127.4 | 48.5 | 61.9 | 28.7 | 18.9 | 21.4 | 17.8 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 39.5 |
| Price/Book | N/A | 1.8 | 4.7 | 7.1 | 7.7 | 4.9 | 3.3 | 5.9 | 5.1 |
| Price/Sales | N/A | 4.4 | 4.1 | 6.9 | 7.7 | 6.7 | 4.7 | 4.6 | 6.0 |
| FCF Yield | N/A | -12.2% | 0.8% | 2.1% | 1.6% | 3.5% | 5.3% | 4.7% | 5.6% |
| Market Cap | N/A | 67M | 198M | 309M | 536M | 347M | 283M | 509M | 516M |
| Avg. Price | N/A | 6.98 | 11.55 | 20.00 | 25.89 | 23.28 | 20.06 | 24.51 | 36.90 |
| Year-End Price | N/A | 6.54 | 18.45 | 25.85 | 40.93 | 22.54 | 20.07 | 36.31 | 36.90 |
Red Violet, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
Red Violet, Inc. trades at 47.3x trailing earnings, compared to its 15-year median P/E of 46.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.8x vs a median of 28.7x. The company's 5-year average ROIC is 2.7% with a gross margin of 79.8%. Total shareholder yield (buybacks) is 1.1%. At current prices, the estimated annualized return to fair value is +37.0%.
Red Violet, Inc. (RDVT) has a current P/E ratio of 47.3, compared to its historical median P/E of 46.8. The stock is currently considered Fair based on its historical valuation range.
Red Violet, Inc. (RDVT) has a 5-year average return on invested capital (ROIC) of 2.7%. This is below average and may indicate limited pricing power.
Red Violet, Inc. (RDVT) has a market capitalization of $516M. It is classified as a small-cap stock.
Red Violet, Inc. (RDVT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.14%.
Based on historical P/E analysis, Red Violet, Inc. (RDVT) appears fair. The current P/E of 47.3 is 1% above its historical median of 46.8. The estimated fair value CAGR (P/E method) is 96.0%.
Red Violet, Inc. (RDVT) operates in the Services-Prepackaged Software industry, within the Technology sector.
Red Violet, Inc. (RDVT) reported annual revenue of $75 million in its most recent fiscal year, based on SEC EDGAR filings.
Red Violet, Inc. (RDVT) has a net profit margin of 9.3%. This is a modest margin.
Red Violet, Inc. (RDVT) generated $24 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Red Violet, Inc. (RDVT) has a debt-to-equity ratio of 0.14. This indicates a conservatively financed balance sheet.
Red Violet, Inc. (RDVT) reported earnings per share (EPS) of $0.50 in its most recent fiscal year.
Red Violet, Inc. (RDVT) has a return on equity (ROE) of 8.1%. This indicates moderate shareholder returns.
Red Violet, Inc. (RDVT) has a 5-year average gross margin of 79.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 8 years of financial data for Red Violet, Inc. (RDVT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Red Violet, Inc. (RDVT) has a book value per share of $6.19, based on its most recent annual SEC filing.