The company maintains high structural efficiency with gross margins consistently exceeding 80%, peaking at 94.7% in 2025Q4.
| Sales/Revenue | 94.08M | 90.25M | 75.19M | 60.2M | 53.32M | 44.02M | 34.59M | 30.29M | 16.3M | 8.58M | 4.58M | 4M | 4M |
| Revenue Growth % | 18.07% | 20.03% | 24.89% | 12.91% | 21.12% | 27.28% | 14.2% | 85.78% | 90.04% | 87.09% | 14.54% | 0% | - |
| Cost of Goods Sold | 14.83M | 14.68M | 14M | 13.07M | 12.21M | 11.2M | 11.28M | 12.26M | 8.64M | 7.07M | 4.31M | 2.56M | 2.77M |
| COGS % of Revenue | - | 16.26% | 18.62% | 21.71% | 22.9% | 25.43% | 32.6% | 40.47% | 52.99% | 82.37% | 93.91% | 63.85% | 69.12% |
| Gross Profit | 79.25M | 75.58M | 61.19M | 47.13M | 41.11M | 32.83M | 23.31M | 18.03M | 7.66M | 1.51M | 279K | 1.45M | 1.24M |
| Gross Margin % | 84.23% | 83.74% | 81.38% | 78.29% | 77.1% | 74.57% | 67.4% | 59.53% | 47.01% | 17.63% | 6.09% | 36.15% | 30.88% |
| Gross Profit Growth % | - | 23.51% | 29.82% | 14.66% | 25.22% | 40.83% | 29.29% | 135.24% | 406.88% | 441.94% | -80.72% | 17.07% | - |
| Operating Expenses | 64.88M | 62.44M | 53.27M | 44.63M | 40.75M | 34.14M | 30.14M | 29.24M | 15.15M | 23.01M | 13.13M | 11.95M | 11.74M |
| OpEx % of Revenue | - | 69.18% | 70.85% | 74.13% | 76.42% | 77.56% | 87.15% | 96.55% | 92.96% | 268.27% | 286.26% | 298.48% | 293.21% |
| Selling, General & Admin | 53.95M | 51.77M | 43.71M | 36.28M | 34.07M | 28.74M | 25.93M | 26.35M | 13.16M | 21.87M | 12.52M | 10.25M | 11.74M |
| SG&A % of Revenue | - | 57.36% | 58.13% | 60.26% | 63.9% | 65.29% | 74.96% | 87.01% | 80.72% | 255% | 273.02% | 256.06% | 293.21% |
| Research & Development | 2.65M | 0 | 9.35M | 8.12M | 0 | 0 | 0 | 0 | 1.73M | 866K | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 12.43% | 13.49% | - | - | - | - | 10.61% | 10.1% | - | - | - |
| Other Operating Expenses | 2.04M | 10.67M | 213K | 233K | 6.67M | 5.4M | 4.22M | 2.89M | 539K | 1.14M | 607K | 0 | 0 |
| Operating Income | 14.37M | 13.14M | 7.92M | 2.5M | 361K | -1.31M | -6.83M | -11.21M | -7.49M | -21.5M | -12.85M | -9.02M | -10.5M |
| Operating Margin % | 15.28% | 14.56% | 10.53% | 4.16% | 0.68% | -2.99% | -19.75% | -37.02% | -45.95% | -250.64% | -280.17% | -225.28% | -262.33% |
| Operating Income Growth % | - | 65.88% | 216.29% | 593.63% | 127.45% | 80.75% | 39.07% | -49.67% | 65.16% | -67.37% | -42.45% | 14.12% | - |
| EBITDA | 22.69M | 23.81M | 17.48M | 10.86M | 7.04M | 4.08M | -2.62M | -8.32M | -5.5M | -20.36M | -12.24M | -8.8M | -10.29M |
| EBITDA Margin % | 24.12% | 26.38% | 23.25% | 18.03% | 13.2% | 9.28% | -7.56% | -27.48% | -33.71% | -237.37% | -266.94% | -219.91% | -256.96% |
| EBITDA Growth % | 13.5% | 36.2% | 61.04% | 54.29% | 72.28% | 256.18% | 68.58% | -51.47% | 73.01% | -66.37% | -39.03% | 14.42% | - |
| D&A (Non-Cash Add-back) | 8.32M | 10.67M | 9.56M | 8.35M | 6.67M | 5.4M | 4.22M | 2.89M | 2M | 1.14M | 607K | 215K | 215K |
| EBIT | 9.65M | 13.14M | 7.92M | 2.5M | 361K | -1.31M | -6.83M | -11.21M | -7.49M | -21.5M | -12.85M | -9.02M | -10.5M |
| Net Interest Income | 1.11M | 1.42M | 1.4M | 1.33M | 351K | 0 | 18K | 136K | 84K | 0 | 0 | 0 | 0 |
| Interest Income | 1.46M | 1.42M | 1.4M | 1.33M | 351K | 0 | 18K | 136K | 84K | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.46M | 1.42M | 1.4M | 1.33M | 351K | 2.17M | 18K | 136K | 623K | 0 | -4.05M | -1.48M | 0 |
| Pretax Income | 15.83M | 14.56M | 9.32M | 3.84M | 712K | 853K | -6.81M | -11.08M | -6.87M | -21.5M | -16.9M | -10.5M | -10.5M |
| Pretax Margin % | 16.82% | 16.13% | 12.4% | 6.38% | 1.34% | 1.94% | -19.7% | -36.57% | -42.13% | -250.64% | -368.62% | -262.33% | -262.33% |
| Income Tax | 1.73M | 1.4M | 2.32M | -9.69M | 96K | 198K | 0 | 0 | 0 | 0 | -38K | 142K | 142K |
| Effective Tax Rate % | 10.9% | 9.64% | 24.86% | -252.5% | 13.48% | 23.21% | 0% | 0% | 0% | 0% | 0.22% | -1.35% | -1.35% |
| Net Income | 14.1M | 13.15M | 7M | 13.53M | 616K | 655K | -6.81M | -11.08M | -6.87M | -21.5M | -16.86M | -10.64M | -10.64M |
| Net Margin % | 14.99% | 14.57% | 9.31% | 22.47% | 1.16% | 1.49% | -19.7% | -36.57% | -42.13% | -250.64% | -367.79% | -265.88% | -265.88% |
| Net Income Growth % | 62.86% | 87.83% | -48.24% | 2096.27% | -5.95% | 109.61% | 38.49% | -61.27% | 68.06% | -27.5% | -58.44% | 0% | - |
| Net Income (Continuing) | 14.1M | 13.15M | 7M | 13.53M | 616K | 655K | -6.81M | -11.08M | -6.87M | -21.5M | -16.86M | -10.64M | -10.64M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.98 | 0.91 | 0.50 | 0.96 | 0.04 | 0.05 | -0.57 | -1.02 | -0.67 | -2.08 | -1.63 | -1.03 | -1.03 |
| EPS Growth % | 708.33% | 82% | -47.92% | 2096.8% | -10.63% | 108.58% | 44.12% | -52.24% | 67.79% | -27.61% | -58.25% | 0% | - |
| EPS (Basic) | - | 0.94 | 0.51 | 0.97 | 0.04 | 0.05 | -0.57 | -1.02 | -0.67 | -2.08 | -1.63 | -1.03 | -1.03 |
| Diluted Shares Outstanding | 14.39M | 14.4M | 14.13M | 14.13M | 14.11M | 13.4M | 11.86M | 10.76M | 10.27M | 10.33M | 10.33M | 10.33M | 10.33M |
| Basic Shares Outstanding | 14.19M | 14.04M | 13.86M | 13.97M | 13.76M | 12.6M | 11.86M | 10.76M | 10.27M | 10.33M | 10.33M | 10.33M | 10.33M |
| Dividend Payout Ratio | - | 31.79% | 59.7% | - | - | - | - | - | - | - | - | - | - |
Regulatory and compliance exposure
Based on reported financial statements, Red Violet has maintained a consistent growth trajectory, with revenue reaching $25.8 million in 2026Q1, representing a 17.4% year-over-year increase that underscores the successful adoption of the idiCORE and FOREWARN platforms across their respective enterprise and real estate market segments.
The company's ability to sustain double-digit top-line growth suggests that the CORE platform's value proposition remains compelling to its core investigative and real estate client bases. Investors should monitor whether this expansion is driven by new customer acquisition or deeper penetration within existing accounts, as the latter would imply higher long-term revenue durability.
As indicated by recent quarterly filings, Red Violet consistently achieves gross margins exceeding 80%, with a peak of 94.7% in 2025Q4, reflecting the inherent scalability of their cloud-native data fusion architecture and the relatively low marginal cost associated with processing additional identity queries.
This structural margin profile suggests that the company possesses significant pricing power and operational leverage, provided that third-party data acquisition costs remain stable. Any material compression in these margins would likely signal an unfavorable shift in data licensing terms or increased competitive pressure on pricing.
According to the income statement data, operating income has demonstrated significant volatility but reached a recent high of $5.4 million in 2026Q1, suggesting that the company is beginning to realize meaningful operating leverage as revenue growth outpaces the relatively static nature of its corporate overhead expenses.
The transition from operating losses in 2023Q4 to consistent profitability in recent quarters indicates that the business model is successfully scaling. Analysts should evaluate whether this trend is sustainable or if it relies on temporary cost containment that may need to be reversed to support future product innovation.
Based on the provided financial data, Red Violet's net income of $4.4 million in 2026Q1 must be viewed alongside the company's consistent use of stock-based compensation, which totaled $1.4 million to $1.8 million per quarter throughout 2025, potentially masking the true economic cost of operations.
While reported net margins appear healthy, the reliance on equity-based incentives warrants careful scrutiny to ensure that shareholder value is not being eroded by excessive dilution. Investors should compare these non-cash expenses against free cash flow generation to determine the underlying quality of the reported earnings.
As highlighted in recent industry context, Red Violet faces significant potential headwinds from evolving federal and state privacy legislation, which could increase compliance costs and restrict data access, thereby challenging the long-term sustainability of the company's current high-margin, data-intensive business model.
The market may be underestimating the risk that regulatory shifts could force a fundamental change in how the CORE platform aggregates and utilizes identity data. Furthermore, the lumpy nature of enterprise contract renewals could lead to periods of revenue volatility that may not align with the company's historical growth narrative.
Quick answers to the most common questions about buying RDVT stock.
For fiscal year 2025, Red Violet, Inc. (RDVT) reported total revenue of $90.3M. This represents a 2154.6% increase compared to $4.0M in 2014.
Red Violet, Inc. (RDVT) is profitable, generating $13.2M in net income for the fiscal year ending 2025 with a net profit margin of 14.6%.
Red Violet, Inc. (RDVT) reported an operating income of $13.1M, resulting in an operating profit margin of 14.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Red Violet, Inc. (RDVT) generated $75.6M in gross profit for the year, representing a gross profit margin of 83.7%. This demonstrates the company's core pricing power and production efficiency.