Red Violet Inc. reported second-quarter 2026 results for the period ended June 30, with revenue rising 23% to $26.7 million and net income nearly doubling to $5 million. Gross profit climbed 29% to $20.2 million, lifting gross margin to 76% from 72%, while adjusted EBITDA jumped 48% to $11.2 million and adjusted net income rose 58% to $7.2 million. Operating cash flow increased 42% to a record $10.6 million for the quarter, and the company added a record 447 new IDI customers, ending with 10,869 on the platform, while its FOREWARN product reached 443,173 users and 660 REALTOR Associations under contract. In August, Red Violet closed an underwritten public offering of 1,916,667 shares, including 250,000 shares from the underwriters' full exercise of their option, generating net proceeds of about $109.0 million, which together with existing funds gives it over $160 million in cash and no debt. The company repurchased 74,500 shares by June 30 at an average of $41.87 per share and had $15.5 million left on its buyback authorization, while diluted earnings came in at $0.34 and adjusted diluted earnings at $0.50 versus $0.51 on a basic basis.
Red Violet IncRecord Q2 revenue up 23% to $26.7M with net income nearly doubling to $5M and adjusted EBITDA up 48%.
