Red Violet, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022 at 09:57 pm
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Red Violet, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 12.49 million compared to USD 10.88 million a year ago. Net loss was USD 0.205 million compared to net income of USD 1.76 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.13 a year ago.
For the six months, sales was USD 25.22 million compared to USD 21.1 million a year ago. Net loss was USD 0.098 million compared to net income of USD 1.18 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.09 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.