Red Violet Q2 revenue rises on customer growth

Red Violet

10/08/2026 21:15

Overview
Identity intelligence firm's Q2 revenue rose 23% yr/yr to $26.7 mln
Adjusted EBITDA for Q2 grew 48% yr/yr to $11.2 mln
Company completed $109 mln equity offering for strategic initiatives and acquisitions

Outlook
Company plans to use recent $109 mln offering proceeds for working capital and potential acquisitions
Red Violet says it remains disciplined in capital deployment and confident in future opportunities

Result Drivers
CUSTOMER GROWTH - Co added a record 447 new customers to IDI in Q2, ending the quarter with 10,869 customers
PRODUCT USER EXPANSION - Added 25,493 users to FOREWARN during the quarter, reaching 443,173 users

Company press release: ID:nGNX5W33ZL

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$26.70 mln
$25.62 mln (2 Analysts)
Q2 Adjusted EBITDA
 
$11.20 mln
 
Q2 Gross Margin
 
76.00%
 
Q2 Adjusted Gross Margin
 
86.00%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Red Violet Inc is $71.50, about 9.2% above its August 7 closing price of $65.49
The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 27 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)