| Market Capitalization (Millions $) |
1,101 |
| Shares
Outstanding (Millions) |
14 |
| Employees |
250 |
| Revenues (TTM) (Millions $) |
99 |
| Net Income (TTM) (Millions $) |
16 |
| Cash Flow (TTM) (Millions $) |
5 |
| Capital Exp. (TTM) (Millions $) |
13 |
Business Description
Red Violet, Inc. is committed to making the world a safer place while also lowering corporate costs. To supply identification intelligence, we use unique technologies and employ analytical skills. Our technology drives crucial solutions that enable businesses to function with confidence. Our technologies allow for the identification and placement of individuals, businesses, assets, and their interrelationships in real time. These solutions are used for risk reduction, due diligence, fraud detection and prevention, regulatory compliance, and client acquisition, among other things. CORETM, our intelligent platform, is purpose-built for the enterprise while being adaptable to organizations of all sizes, providing clarity to vast datasets by translating data into intelligence. We improve process efficiency and help businesses make better data-driven decisions.
While our platform powers many diverse solutions for our customers, we presently market our solutions primarily through two brands, IDI' and FOREWARN'. IDI is a leading-edge, analytics and information solutions provider delivering actionable intelligence to the risk management industry in support of use cases such as the verification and authentication of consumer identities, due diligence, prevention of fraud and abuse, legislative compliance, and debt recovery. idiCORE' is IDIs flagship product. idiCORE is a next-generation, investigative solution used to address a variety of organizational challenges including due diligence, risk mitigation, identity authentication and regulatory compliance, by financial services companies, insurance companies, healthcare companies, law enforcement and government, collections, law firms, retail, telecommunication companies, corporate security and investigative firms. FOREWARN is an app-based solution currently tailored for the real estate industry, providing instant knowledge prior to face-to-face engagement with a consumer, helping professionals identify and mitigate risk. As of December 31, 2021 and 2020, IDI had 6,548 and 5,726 billable customers and FOREWARN had 82,419 and 48,377 users, respectively. The Company defines a billable customer of IDI as a single entity that generated revenue during the last three months of the period. Billable customers are typically corporate organizations. In most cases, corporate organizations will have multiple users and/or departments purchasing our solutions, however, the Company counts the entire organization as a discrete customer. The Company defines a user of FOREWARN as a unique person that has a subscription to use the FOREWARN service as of the last day of the period. A unique person can only have one user account.
We make every effort to understand our clients demands from the start. We engage with our clients on a constant basis and review their use of our products throughout their life cycle in order to maximize utilization and, hence, productivity. Our go-to-market strategy relies on (a) an inside sales team that cultivates relationships and ultimately closes business with their end-user markets, (b) a strategic sales team that provides a more personal, face-to-face approach for major accounts within certain industries, and (c) distributors, resellers, and strategic partners that have a significant foothold in many of the industries that we have not previously served, as well as to further penetrate those industries. We take the "land and grow" method.
Company Address: 2650 North Military Trail Boca Raton 33431 FL
Company Phone Number: 757-4000 Stock Exchange / Ticker: NASDAQ RDVT
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1.26% 