RDVT 8-K — Smart Summary
46% reduction- Red Violet, Inc. (NASDAQ: RDVT) reported financial results for the first quarter ended March 31, 2026, via a press release and conference call on May 6, 2026.
- Revenue grew 14% year-over-year to $21.4 million, with net income rising 48% to $3.1 million.
- The filing covers Item 2.02 (Results of Operations) with Exhibit 99.1 (press release) and Exhibit 99.2 (conference call transcript) furnished.
Item 2.02 — Results of Operations and Financial Condition
Financial Highlights
- Revenue: $21.4 million, +14% YoY (vs. $18.8 million in Q1 2025)
- Gross profit: $16.3 million, +16% YoY; gross margin: 76% vs. 75% in Q1 2025
- Operating income: $3.9 million, +44% YoY (vs. $2.7 million in Q1 2025)
- Net income: $3.1 million, +48% YoY (vs. $2.1 million in Q1 2025); net income margin: 14% vs. 11% in Q1 2025
- Diluted EPS: $0.28, +47% YoY (vs. $0.19 in Q1 2025)
- Adjusted EBITDA: $7.7 million, +26% YoY; adjusted EBITDA margin: 36% vs. 33% in Q1 2025
- Cash flow from operations: $6.6 million, +23% YoY
Segment Results
- idiCORE revenue: $20.4 million in Q1 2026, +13% YoY (vs. $18.0 million in Q1 2025)
- FOREWARN revenue: $1.0 million in Q1 2026, +39% YoY (vs. $0.7 million in Q1 2025)
- Growth driven by increased customer count and higher revenue per customer
Capital Allocation
- Cash and cash equivalents as of March 31, 2026: $26.8 million
- Share repurchases in Q1 2026: 31,699 shares repurchased for approximately $1.0 million at an average price of $31.73 per share
- Remaining share repurchase program availability as of March 31, 2026: approximately $7.5 million
Management Commentary
- "We are pleased to report another strong quarter of revenue and earnings growth. Our continued execution across both idiCORE and FOREWARN demonstrates the strength of our business model and our ability to deliver value to our customers." — Derek Dubner, Chief Executive Officer
- "Our financial results reflect strong top-line growth and continued operating leverage. We remain focused on disciplined execution and are well positioned to continue delivering profitable growth throughout 2026." — Kathy Sherrill, Chief Financial Officer
Guidance
- Q2 2026 revenue guidance: $22.0 million to $22.5 million
- Q2 2026 adjusted EBITDA guidance: $8.0 million to $8.5 million
- Full year 2026 revenue guidance: $87.0 million to $89.0 million
- Full year 2026 adjusted EBITDA guidance: $31.0 million to $33.0 million
§ MORE SUMMARIES
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