Red Violet Inc (FRA:2KH)

Q1 2025 Red Violet Inc Earnings Call Transcript

May 7, 2025 / 08:30 PM GMT

Release Date Price: €34.4 (+3.61%)

Transcript 8-K10-Q

Key Points

Positve

Red Violet Inc (RDVT) reported a 26% increase in revenue, reaching a record $22 million for the quarter.
The company achieved a record adjusted gross profit of $18.3 million with an adjusted gross margin of 83%.
Adjusted EBITDA for the quarter increased by 47% to a record $8.4 million, with a margin of 38%.
The IDI billable customer base grew by 315 customers, ending the quarter with 9,241 customers.
Forewarn added 21,918 users, ending the quarter with 325,336 users, marking its 20th consecutive quarter of sequential revenue growth.

Negative

Sales and marketing expenses increased by 46% to $5.4 million, driven primarily by higher personnel-related expenses.
General and administrative expenses rose by 7% to $6.2 million, also due to higher personnel-related costs.
The real estate vertical, excluding Forewarn, declined by low single digits due to affordability issues and elevated interest rates.
Contractual revenue represented 74% of total revenue, down 4 percentage points from the prior year due to one-time transactional revenue.
Cash and cash equivalents decreased to $34.6 million from $36.5 million at the end of the previous year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RDVT.OQ - Red Violet Inc
Q1 2025 Red Violet Inc Earnings Call
May 07, 2025 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, ladies and gentlemen, and welcome to Red Violet's first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session, and instructions will follow at that time. As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference, Camilo Ramirez, senior Vice President, Finance and Investor Relations. Please go ahead.

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Unidentified_2 [2]
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Good afternoon and welcome.

Thank you for joining us today to discuss our

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