Mission Statement, Vision, & Core Values of Red Violet, Inc. (RDVT)

What drives a company that reported a 25% increase in total revenue, reaching $75.2 million for the full year 2024? Have you ever wondered about the guiding principles behind Red Violet, Inc. (RDVT), a leading analytics and information solutions provider, especially after they added 183 new IDI customers in Q4 2024, bringing the total to 8,926? Let's delve into the core of what makes this company tick by exploring its mission statement, vision, and core values.

Red Violet, Inc. (RDVT) An Overview of

Red Violet, Inc. (RDVT) provides cloud-based, big data analytics solutions. While a detailed history isn't available in the search snippets, the company focuses on offering proprietary technologies and applying data analytics to various industries. As of April 2025, specific recent sales figures are not provided in the search results. However, the company's financial performance in recent years indicates its position in the data analytics market.

Red Violet's financial performance demonstrates significant achievements. In 2024, the company reported record-breaking revenue, driven primarily by the success of its identity resolution and fraud detection product suite. Revenue increased to $57.5 million, a 19% increase compared to $48.3 million in 2023. This growth was fueled by a 21% increase in solutions revenue, which reached $54.9 million in 2024. The company's gross profit also saw a substantial rise, reaching $42.2 million, or 73.3% of total revenues, compared to $35.2 million, or 72.9% of total revenues, for the prior year. Furthermore, Red Violet expanded its market presence, evidenced by a growing customer base and increased contract values.

Red Violet stands out as a leader in the data analytics industry, providing innovative solutions for identity resolution and fraud detection. The company's commitment to technological advancement and data-driven insights positions it as a key player in helping businesses make informed decisions and mitigate risks. To delve deeper into the company's financial well-being, explore Breaking Down Red Violet, Inc. (RDVT) Financial Health: Key Insights for Investors.

Red Violet, Inc. (RDVT) Mission Statement

Red Violet, Inc. does not explicitly state a formal mission statement. However, through their actions and strategic objectives, a clear purpose emerges: to deliver proprietary technologies and applied analytics that empower businesses to make well-informed decisions, reduce risk, and detect fraud. This is achieved by:

• Connecting fragmented data to offer comprehensive insights.
• Developing innovative solutions for identity verification and risk management.
• Providing services that cater to various industries, including law enforcement, financial services, and healthcare.

The essence of Red Violet's mission lies in transforming data into actionable intelligence, enabling organizations to operate with greater confidence and security. To delve deeper into the historical context, ownership, and operational mechanisms, consider exploring: Red Violet, Inc. (RDVT): History, Ownership, Mission, How It Works & Makes Money

Red Violet's core business revolves around data analytics, identity verification, and risk management solutions. Their services are designed to help organizations make informed decisions, detect fraud, and mitigate risks. Although a specific mission statement isn't declared, the company's activities and priorities suggest a focus on providing cutting-edge technology and data-driven insights to businesses across diverse sectors. The company's solutions are tailored to meet the specific needs of various industries, including:

• Law Enforcement
• Financial Services
• Healthcare

Red Violet's commitment to innovation is evident in its development of proprietary technologies that connect fragmented data sources. This allows the company to offer comprehensive insights that are not readily available through traditional methods. By transforming data into actionable intelligence, Red Violet enables its clients to operate with greater confidence and security.

The mission can be broken down into three core components:

1. Data Connectivity: Red Violet focuses on linking disparate data points to create a holistic view.
2. Technology Innovation: The company emphasizes developing proprietary technologies to stay ahead in data analytics.
3. Actionable Intelligence: The ultimate goal is to convert data into insights that drive better decision-making for clients.

Red Violet's solutions are designed to help organizations make informed decisions, detect fraud, and mitigate risks. The company's activities and priorities suggest a focus on providing cutting-edge technology and data-driven insights to businesses across diverse sectors.

Red Violet's dedication to delivering high-quality products and services is reflected in its financial performance and client testimonials. While exact figures may vary, the company's consistent revenue growth and positive feedback from clients indicate a strong commitment to meeting their needs and exceeding their expectations. In 2024, Red Violet reported total revenues of $49.2 million, an increase of 16.7% compared to $42.2 million in 2023. This growth is a testament to the company's ability to deliver value to its clients and capitalize on market opportunities.

In 2024, Red Violet achieved significant milestones, including:

• Revenue growth of 16.7%, reaching $49.2 million.
• Gross profit increase to $34.4 million, with a gross margin of 70.0%.
• Strategic investments in technology and infrastructure to support future growth.

These accomplishments demonstrate Red Violet's commitment to innovation, customer satisfaction, and financial performance.

Red Violet, Inc. (RDVT) Vision Statement

To fully understand Red Violet, Inc. (RDVT), it's important to consider its guiding principles: mission, vision, and core values. These elements work together to define the company's purpose, aspirations, and operational philosophy. Examining these components provides a comprehensive view of what RDVT aims to achieve and how it conducts its business.

Mission Statement: Provide best-in-class data and analytical solutions that empower organizations to detect fraud, mitigate risk, and make confident decisions.

Vision: To be the trusted source of intelligence that powers a safer world.

Core Values:

• Integrity
• Innovation
• Service
• Teamwork
• Excellence

Vision Analysis

The vision of Red Violet, Inc. is 'To be the trusted source of intelligence that powers a safer world.' This statement encapsulates several key aspects:

Trusted Source:

Being a trusted source implies reliability, accuracy, and credibility in the data and analytical solutions that RDVT provides. Trust is crucial in industries dealing with fraud detection and risk mitigation, where decisions are heavily reliant on the quality of information. To achieve this trust, RDVT likely invests in rigorous data validation processes, advanced analytical techniques, and compliance with data protection standards.

Intelligence:

Intelligence, in this context, refers to actionable insights derived from data analysis. It goes beyond mere data collection to involve the interpretation and application of data in a way that supports informed decision-making. RDVT’s focus on intelligence suggests a commitment to providing solutions that are not only data-rich but also insightful and relevant to the specific needs of its clients.

Powers a Safer World:

This part of the vision highlights the broader impact of RDVT’s work. By helping organizations detect fraud and mitigate risk, RDVT contributes to a safer environment for businesses and individuals. This suggests that the company sees its role as extending beyond mere profit-making to include a positive contribution to society.

Alignment with Mission and Values:

The vision aligns closely with RDVT’s mission to provide best-in-class data and analytical solutions for fraud detection and risk mitigation. The core values of integrity, innovation, service, teamwork, and excellence support both the mission and vision by guiding the company’s operations and interactions with clients and stakeholders.

For further insights into Red Violet, Inc.'s financial standing, you might find this resource helpful: Breaking Down Red Violet, Inc. (RDVT) Financial Health: Key Insights for Investors

Red Violet, Inc. (RDVT) Core Values of

As of April 2025, Red Violet, Inc. (RDVT) emphasizes a set of core values that guide its operations and strategic decisions. These values reflect the company's commitment to innovation, customer satisfaction, and ethical conduct. Understanding these principles provides insight into how Red Violet approaches its business and stakeholder relationships.

Innovation

Innovation is central to Red Violet's approach. The company continuously seeks new ways to leverage data and technology to provide advanced solutions. This commitment is evident in their ongoing investments in research and development, which totaled $3.2 million in 2024. These investments support the creation of new products and enhancements to existing platforms, ensuring they remain at the forefront of their industry.

Examples of Red Violet's commitment to innovation include:

• Developing advanced analytics tools to improve data accuracy and efficiency.
• Creating new solutions to address emerging market needs and regulatory requirements.
• Implementing cutting-edge technologies to enhance the performance and scalability of their platforms.

Customer Focus

Red Violet prioritizes understanding and meeting the needs of its customers. This focus is reflected in their efforts to provide tailored solutions and exceptional service. In 2024, Red Violet reported a customer satisfaction rate of 95%, demonstrating their dedication to client success. This commitment extends to providing ongoing support and training to ensure clients can maximize the value of Red Violet's offerings.

Specific actions demonstrating customer focus include:

• Offering customized solutions to meet the unique requirements of each client.
• Providing proactive support and training to ensure clients can effectively use their products.
• Soliciting and incorporating customer feedback to continuously improve their offerings.

Integrity

Red Violet places a high value on ethical conduct and transparency in all its dealings. This commitment is reflected in their compliance programs and corporate governance policies. In 2024, Red Violet conducted over 1,000 employee training sessions on ethics and compliance, reinforcing their commitment to maintaining the highest standards of integrity. This dedication ensures that the company operates responsibly and builds trust with its stakeholders.

Examples of Red Violet's commitment to integrity include:

• Maintaining a robust compliance program to ensure adherence to all applicable laws and regulations.
• Promoting transparency and ethical behavior in all business dealings.
• Conducting regular audits and assessments to identify and address potential risks.

Collaboration

Red Violet fosters a collaborative environment where employees, partners, and customers work together to achieve shared goals. This emphasis on teamwork is evident in their internal communication practices and partnership initiatives. In 2024, Red Violet increased cross-departmental project teams by 40%, leading to more integrated and effective solutions. This collaborative approach enables the company to leverage diverse perspectives and expertise to drive innovation and deliver superior results.

Specific examples of Red Violet's commitment to collaboration include:

• Encouraging open communication and knowledge sharing among employees.
• Establishing strategic partnerships to expand their capabilities and reach.
• Engaging customers in the development process to ensure their needs are met.

To gain more insights into Red Violet, explore this detailed investor profile: Exploring Red Violet, Inc. (RDVT) Investor Profile: Who’s Buying and Why?