$RDVT
Red Violet, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019041816 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $8.257M $4.710M $4.360M
YoY Change 89.38% 73.8% 88.74%
Cost Of Revenue $3.120M $2.300M $2.230M
YoY Change 39.91% 22.99% 13.78%
Gross Profit $5.140M $2.400M $2.130M
YoY Change 141.31% 185.71% 508.57%
Gross Profit Margin 62.25% 50.96% 48.85%
Selling, General & Admin $5.423M $3.940M $3.308M
YoY Change 63.94% 10.36% -2.71%
% of Gross Profit 105.51% 164.17% 155.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $750.0K $560.0K $508.0K
YoY Change 47.64% 33.33% 81.43%
% of Gross Profit 14.59% 23.33% 23.85%
Operating Expenses $5.423M $4.500M $3.308M
YoY Change 63.94% 13.07% -10.11%
Operating Profit -$1.038M -$2.100M -$1.689M
YoY Change -38.54% -33.12% -49.28%
Interest Expense $46.00K $50.00K $31.00K
YoY Change 48.39%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $406.0K
YoY Change -100.0%
Pretax Income -$992.0K -$2.040M -$1.252M
YoY Change -20.77% -35.03% -62.4%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$992.0K -$2.040M -$1.252M
YoY Change -20.77% -35.03% -62.4%
Net Earnings / Revenue -12.01% -43.31% -28.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$90.66K -$198.6K -$121.7K
COMMON SHARES
Basic Shares Outstanding 10.27M 10.27M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.34M $9.950M $12.65M
YoY Change 5.45% 14114.29% 4960.0%
Cash & Equivalents $13.34M $9.950M $12.65M
Short-Term Investments
Other Short-Term Assets $890.0K $930.0K $740.0K
YoY Change 20.27% 66.07% 42.31%
Inventory
Prepaid Expenses
Receivables $3.325M $2.265M $2.185M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.56M $13.15M $15.57M
YoY Change 12.78% 478.23% 634.29%
LONG-TERM ASSETS
Property, Plant & Equipment $704.0K $852.0K $877.0K
YoY Change -19.73% -21.91% -22.39%
Goodwill $5.227M $5.227M $5.227M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $374.0K $628.0K $1.013M
YoY Change -63.08% -46.78% -20.24%
Total Long-Term Assets $32.08M $26.68M $26.05M
YoY Change 23.17% 16.75% 18.24%
TOTAL ASSETS
Total Short-Term Assets $17.56M $13.15M $15.57M
Total Long-Term Assets $32.08M $26.68M $26.05M
Total Assets $49.64M $39.83M $41.62M
YoY Change 19.28% 58.52% 72.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.481M $2.246M $1.500M
YoY Change 65.4% -12.88% 47.06%
Accrued Expenses $2.480M $1.280M $2.180M
YoY Change 13.76% -73.22% -70.01%
Deferred Revenue $35.00K $26.00K
YoY Change -21.21%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.997M $3.549M $3.700M
YoY Change 35.05% -51.97% -55.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.590M
YoY Change
Total Long-Term Liabilities $2.590M $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.997M $3.549M $3.700M
Total Long-Term Liabilities $2.590M $0.00 $0.00
Total Liabilities $7.585M $3.549M $3.700M
YoY Change 105.0% -51.97% -55.64%
SHAREHOLDERS EQUITY
Retained Earnings -$11.00M -$4.784M
YoY Change
Common Stock $12.00K $10.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.255M $0.00
YoY Change
Treasury Stock Shares $103.1K $0.00
Shareholders Equity $42.06M $36.28M $37.92M
YoY Change
Total Liabilities & Shareholders Equity $49.64M $39.83M $41.62M
YoY Change 19.27% 58.52% 72.34%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$992.0K -$2.040M -$1.252M
YoY Change -20.77% -35.03% -62.4%
Depreciation, Depletion And Amortization $750.0K $560.0K $508.0K
YoY Change 47.64% 33.33% 81.43%
Cash From Operating Activities $1.530M -$1.240M -$1.570M
YoY Change -197.45% -50.6% -61.33%
INVESTING ACTIVITIES
Capital Expenditures -$1.530M -$1.450M -$1.620M
YoY Change -5.56% 22.88% -5.81%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.530M -$1.450M -$1.620M
YoY Change -5.56% 22.88% -5.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.440M 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities 1.530M -1.240M -1.570M
Cash From Investing Activities -1.530M -1.450M -1.620M
Cash From Financing Activities 7.440M 0.000 0.000
Net Change In Cash 7.440M -2.690M -3.190M
YoY Change -333.23% 1315.79% -3644.44%
FREE CASH FLOW
Cash From Operating Activities $1.530M -$1.240M -$1.570M
Capital Expenditures -$1.530M -$1.450M -$1.620M
Free Cash Flow $3.060M $210.0K $50.00K
YoY Change 6020.0% -115.79% -102.14%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9950000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13337000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12646000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
526000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3042000
rdvt Operating Lease Liabilities Arising From Obtaining Right Of Use Assets
OperatingLeaseLiabilitiesArisingFromObtainingRightOfUseAssets
3387000
rdvt Spin Off Completed Date
SpinOffCompletedDate
2018-03-26
CY2018Q1 rdvt Common Stock Distributed Shares At Spinoff
CommonStockDistributedSharesAtSpinoff
10266613
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1000
CY2018Q1 rdvt Common Stock Distributed Shares At Spinoff
CommonStockDistributedSharesAtSpinoff
10266613
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-992000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-1252000
us-gaap Net Income Loss
NetIncomeLoss
-6220000
us-gaap Net Income Loss
NetIncomeLoss
-4830000
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10917673
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10266613
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10497036
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10266613
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.59
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.47
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
689000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
445000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1860000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1235000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
714000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3446000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3642000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3640000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3565000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
8043000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23050000
CY2019Q3 us-gaap Goodwill
Goodwill
5227000
CY2018Q4 us-gaap Goodwill
Goodwill
5227000
us-gaap New Date Of Annual Goodwill Impairment Test
NewDateOfAnnualGoodwillImpairmentTest
October 1
CY2018 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2019Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
35000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
26000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
218000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5290000
rdvt Contract With Customer Liability Revenue Recognized Period
ContractWithCustomerLiabilityRevenueRecognizedPeriod
P12M
CY2019Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
26000
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3405000
rdvt Revenue Remaining Performance Obligation Specified Period Over Which Subscription Contracts Terms Exceed
RevenueRemainingPerformanceObligationSpecifiedPeriodOverWhichSubscriptionContractsTermsExceed
P12M
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
522000
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1795000
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1085000
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50%
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11633662
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10266613
CY2019Q3 rdvt Treasury Stock Issued Shares
TreasuryStockIssuedShares
103417
CY2018Q4 rdvt Treasury Stock Issued Shares
TreasuryStockIssuedShares
0
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
681000
CY2019Q3 us-gaap Share Price
SharePrice
11.00
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7436000
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
103147
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1255000
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1407000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
432000
CY2019Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
208000
CY2018Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
135000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
526000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
316000
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1615000
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
353000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
5816000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
748000
CY2017Q1 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
21020
CY2017Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P89M
CY2017Q2 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
6003
CY2017Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P90M
CY2017Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P60M
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
168000
us-gaap Operating Lease Cost
OperatingLeaseCost
504000
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
172000
us-gaap Operating Lease Payments
OperatingLeasePayments
513000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3042000
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M6D
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
174000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
705000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
724000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
743000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
765000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
619000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3730000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
477000
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2588000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3065000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
665000
CY2019Q3 rdvt Cost Of Non Cancellable Data Licensing Agreements
CostOfNonCancellableDataLicensingAgreements
1946000
CY2018Q3 rdvt Cost Of Non Cancellable Data Licensing Agreements
CostOfNonCancellableDataLicensingAgreements
1447000
rdvt Cost Of Non Cancellable Data Licensing Agreements
CostOfNonCancellableDataLicensingAgreements
5501000
rdvt Cost Of Non Cancellable Data Licensing Agreements
CostOfNonCancellableDataLicensingAgreements
4080000
CY2019Q3 us-gaap Contractual Obligation
ContractualObligation
16689000
CY2019Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
1916000
CY2019Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
7506000
CY2019Q3 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
5615000
CY2019Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1652000
CY2019Q3 us-gaap Contractual Obligation
ContractualObligation
16689000

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