Red Violet Inc (NASDAQ: RDVT) is a cloud-native data analytics company that delivers identity intelligence and risk analytics solutions to public and private sector organizations. Revenue comes from subscription and usage-based access to its CORE platform, marketed primarily under two brands: IDI, which serves enterprise customers across financial services, insurance, healthcare, law enforcement, collections, and other industries, and FOREWARN, an app-based solution for the real estate industry. As of December 31, 2025, IDI had 10,022 billable customers and FOREWARN had 390,018 users, up from 8,926 and 303,418 respectively as of December 31, 2024. For FY2025, Red Violet reported revenue of $90.3 million, net income of $13.2 million, and adjusted EBITDA of $31.0 million, compared to $75.2 million, $7.0 million, and $23.6 million in FY2024. The company's proprietary entity resolution framework, IRON, powers its consumer identity graph by ingesting and linking billions of records from public, proprietary, and third-party data sources. Its largest data supplier accounted for approximately 45% of total data acquisition costs in both FY2025 and FY2024.

Revenue model

Subscription and usage-based fees for access to the CORE platform and its flagship products, idiCORE and FOREWARN. Customers pay for real-time access to identity intelligence, investigative analytics, and risk and fraud decisioning tools delivered via cloud-native interfaces.

Products and services

CORE platform: cloud-native identity intelligence platform powered by the IRON entity resolution and machine learning framework. idiCORE: flagship investigative and identity analytics product marketed under the IDI brand, serving enterprise use cases including identity verification, due diligence, fraud prevention, regulatory compliance, and debt recovery. FOREWARN: app-based risk identification tool for real estate professionals, providing instant consumer identity lookup prior to face-to-face engagement.

Customers and end markets

IDI serves financial services companies, insurance companies, healthcare companies, law enforcement and government agencies, identity verification platforms, collections firms, law firms, retail companies, telecommunications companies, corporate security teams, and investigative firms. FOREWARN is tailored for real estate professionals. As of December 31, 2025, IDI had 10,022 billable customers and FOREWARN had 390,018 users.

Value-chain role

Aggregates and unifies data from public records, credit bureaus, proprietary internal datasets, and third-party data suppliers into a longitudinal consumer identity graph. Sits between raw data sources and end-user organizations that require structured, high-confidence identity and risk intelligence for operational decision-making.

Geographic exposure

North America, based on the company's description of its target market and the MarketsAndMarkets citation noting North America as the largest segment of the risk analytics market. No international revenue breakdown disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-04

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