Red Violet, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 04:57 pm EDT
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Red Violet, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 14.68 million compared to USD 12.49 million a year ago. Net income was USD 1.39 million compared to net loss of USD 0.205 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the six months, sales was USD 29.31 million compared to USD 25.22 million a year ago. Net income was USD 2.1 million compared to net loss of USD 0.098 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
Red Violet, Inc. is a software and services company. The Company is engaged in building proprietary technologies and applying analytical capabilities to deliver identity intelligence. Its solutions enable the real-time identification and location of people, businesses, assets, and their interrelationships. These solutions are used for purposes including risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. The Companyâs AI/ML-driven identity intelligence platform, CORE, is purpose-built for the enterprise, flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. The CORE platform provides essential solutions to public and private sector organizations through easy-to-use analytical interfaces. It markets its solutions primarily through two brands, IDI and FOREWARN. IDI is an analytics and information solutions provider.
RED VIOLET, INC. 
