Red Violet, Inc. (RDVT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la inteligencia de datos, Red Violet, Inc. (RDVT) surge como una potencia, transformando información en bruto en ideas procesables que impulsan las decisiones comerciales críticas. Con un sofisticado lienzo de modelo de negocio que abarca la agregación de datos estratégicos, el análisis avanzado y las soluciones innovadoras de verificación de identidad, esta empresa dinámica aprovecha la tecnología de vanguardia para resolver desafíos complejos en múltiples industrias. Desde servicios financieros hasta agencias gubernamentales, el enfoque único de Red Violet combina plataformas de datos patentadas, algoritmos de aprendizaje automático y repositorios digitales integrales para ofrecer una inteligencia rentable en tiempo real que mitiga riesgos y desbloquea un valor sin precedentes para su diversa clientela.

Red Violet, Inc. (RDVT) - Modelo de negocios: asociaciones clave

Proveedores de datos estratégicos y agregadores

Red Violet colabora con múltiples proveedores de datos estratégicos para mejorar sus servicios de información:

Pareja	Tipo de datos	Valor anual del contrato
Lexisnexis	Registros públicos	$ 1.2 millones
Transunión	Datos de crédito y consumidor	$850,000
Experiencia	Datos de consumo y comerciales	$ 1.5 millones

Proveedores de plataforma de tecnología y software

Las asociaciones de tecnología clave incluyen:

• Amazon Web Services (AWS) - Infraestructura en la nube
• Microsoft Azure - Servicios de computación en la nube
• Copo de nieve - plataforma de almacenamiento de datos

Proveedores de servicios legales y de cumplimiento

Proveedor	Tipo de servicio	Gasto anual
Cumplimiento Solutions Inc.	Consultoría de cumplimiento regulatorio	$475,000
Consultoría dataguard	Aviso de privacidad de datos	$325,000

Empresas de tecnología de marketing y publicidad

Asociaciones de tecnología de marketing de Red Violet:

• Plataforma de marketing de Google
• Adobe Analytics
• Cloud de marketing de Salesforce

Socios de computación e infraestructura de la nube

Pareja	Servicio de infraestructura	Gasto mensual
Servicios web de Amazon	Hosting y computación en la nube	$275,000
Microsoft Azure	Copia de seguridad y recuperación ante desastres	$125,000

Red Violet, Inc. (RDVT) - Modelo de negocio: actividades clave

Recopilación de datos y agregación

Red Violet recopiló aproximadamente 4,7 mil millones de registros de identidad únicos a partir de 2023. La Compañía obtiene datos de más de 300 bases de datos públicas y patentadas, agregando información de:

• Registros públicos
• Plataformas de redes sociales
• Bases de datos gubernamentales
• Registros de transacciones comerciales

Categoría de fuente de datos	Número de registros
Registros públicos	2.1 mil millones
Transacciones comerciales	1.500 millones
Plataformas de redes sociales	650 millones

Análisis y procesamiento de datos avanzados

Red Violet procesa aproximadamente 3.2 millones de consultas de datos diariamente. La Compañía utiliza algoritmos patentados para analizar y referencias cruzadas de puntos de datos con una precisión del 99.7%.

Soluciones de verificación de identidad y gestión de riesgos

La Compañía proporciona servicios de verificación de identidad para:

• Instituciones financieras
• Compañías de seguros
• Agencias gubernamentales
• Proveedores de atención médica

Segmento de la industria	Solicitudes de verificación por mes
Servicios financieros	1.2 millones
Seguro	850,000
Gobierno	450,000

Desarrollo de la plataforma de software

Red Violet invirtió $ 12.3 millones en investigación y desarrollo para la mejora de la plataforma en 2023. La compañía mantiene 5 plataformas de software primarias en diferentes segmentos de mercado.

Aprendizaje automático y mejora del algoritmo de IA

Red Violet emplea a 47 científicos de datos y especialistas en IA. Los modelos de aprendizaje automático de la compañía procesan más de 2.8 petabytes de datos mensualmente con una precisión predictiva del 98.5%.

Métrica de desarrollo de IA	2023 rendimiento
Modelos de aprendizaje automático	23 modelos activos
Velocidad de procesamiento de datos	4.2 millones de registros/hora
Precisión predictiva	98.5%

Red Violet, Inc. (RDVT) - Modelo de negocio: recursos clave

Plataforma de inteligencia de datos patentada

A partir del cuarto trimestre de 2023, la plataforma de inteligencia de datos de Red Violet procesa aproximadamente 6.2 mil millones de registros en múltiples fuentes de datos.

Métrica de plataforma	Valor cuantitativo
Total de registros procesados	6.2 mil millones
Frecuencia de actualización de datos	Semanalmente
Diversidad de fuente de datos	Más de 300 fuentes únicas

Grandes repositorios integrales de datos digitales y físicos

Red Violet mantiene repositorios de datos extensos con las siguientes características:

• Registros digitales que abarcan dominios de información personal, profesional y público
• Archivos de datos físicos mantenidos en múltiples ubicaciones seguras
• Capacidades de integración de datos en tiempo real

Análisis avanzado y tecnologías de aprendizaje automático

La infraestructura tecnológica de Red Violet incluye:

Componente tecnológico	Especificación
Modelos de aprendizaje automático	27 algoritmos patentados
Velocidad de procesamiento	1.3 millones de registros por minuto
Generación de ideas impulsadas por IA	Análisis de correlación en tiempo real

Fuerza laboral de ciencia e ingeniería de datos calificados

Al 31 de diciembre de 2023, la composición de la fuerza laboral de Red Violet:

• Total de empleados: 286
• Científicos de datos: 64
• Ingenieros de software: 92
• Titulares de grado avanzado: 43%

Cartera de propiedad intelectual robusta

Métricas de propiedad intelectual a partir de 2024:

Categoría de IP	Contar
Patentes registradas	17
Aplicaciones de patentes pendientes	8
Algoritmos de software patentados	33

Red Violet, Inc. (RDVT) - Modelo de negocio: propuestas de valor

Servicios integrales de verificación de identidad

Red Violet ofrece servicios de verificación de identidad con las siguientes métricas clave:

Métrico de servicio	Valor
Transacciones de verificación de identidad anual	65.2 millones
Fuentes de datos utilizadas	Más de 300 bases de datos únicas
Tasa de precisión de verificación	98.7%

Insights de datos en tiempo real para empresas

Red Violet proporciona inteligencia de datos en tiempo real con las siguientes capacidades:

• Velocidad de procesamiento de 2.3 millones de consultas de datos por hora
• Cobertura del 99.8% de los registros de población de adultos estadounidenses
• Tasa de actualización de datos de 4.2 millones de registros diariamente

Mitigación de riesgos y soluciones de prevención de fraude

Métricas de prevención de fraude para 2023:

Métrica de prevención de fraude	Valor
Precisión de detección de fraude	96.5%
Ahorro anual de prevención de fraude	$ 127.3 millones
Tasa de reducción del riesgo del cliente	83.6%

Plataformas de inteligencia de datos personalizables

Estadísticas de personalización de la plataforma:

• Número de opciones de integración de datos personalizadas: 42
• Capacidades de conexión API: 17 sistemas empresariales diferentes
• Tiempo promedio de personalización de la plataforma del cliente: 6.7 días

Recuperación y análisis de información rentable

Métricas de rentabilidad:

Métrica de rentabilidad	Valor
Ahorro de costos promedio del cliente	$ 45,200 anualmente
Costo de recuperación de datos por registro	$0.037
Mejora de la eficiencia de la plataforma anual	12.4%

Red Violet, Inc. (RDVT) - Modelo de negocios: relaciones con los clientes

Plataformas digitales de autoservicio

A partir del cuarto trimestre de 2023, Red Violet proporciona acceso digital a través de su plataforma en línea Instantid con aproximadamente 97.3% de disponibilidad de plataforma digital. La plataforma procesa un promedio de 1.2 millones de solicitudes de datos por mes.

Métrica de plataforma	Valor
Tiempo de actividad de la plataforma digital	97.3%
Solicitudes de datos mensuales	1,200,000
Tasa de éxito de la autenticación del usuario	99.7%

Gestión de cuentas dedicada

Red Violet mantiene 48 gerentes de cuentas de nivel empresarial Servir a los clientes en múltiples sectores, incluidos servicios financieros, agencias legales y gubernamentales.

Soporte técnico y consulta

Las operaciones de soporte técnico incluyen:

• Canales de atención al cliente 24/7
• Tiempo de respuesta promedio: 17 minutos
• Tasa de resolución técnica: 92.6%

Diseño de solución personalizado

Categoría de soluciones	Nivel de personalización	Adopción anual del cliente
Soluciones de datos empresariales	Alto	127 clientes
Plataformas de mitigación de riesgos	Medio	84 clientes

Optimización continua del rendimiento del cliente

Red Violet realiza revisiones trimestrales de desempeño para el 92% de sus clientes empresariales, con una tasa promedio de retención de clientes del 86.4% en 2023.

• Cobertura trimestral de revisión de rendimiento: 92%
• Tasa de retención del cliente: 86.4%
• Iteraciones de optimización del rendimiento: 3-4 por año

Red Violet, Inc. (RDVT) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, Red Violet reportó 171 empleados en total, con una porción significativa dedicada a los esfuerzos directos de ventas. El equipo de ventas de la compañía se centra en los clientes empresariales y del mercado medio en sectores de inteligencia de datos y gestión de riesgos.

Métrico de canal de ventas	2023 datos
Contactos de ventas empresariales	3,247
Duración del ciclo de ventas promedio	62 días
Tasa de conversión	18.3%

Portal web en línea

La plataforma web Instantid de Red Violet procesó 14.2 millones de transacciones de verificación de identidad en 2023, lo que representa un aumento del 22% respecto al año anterior.

• Usuarios activos mensuales de portal web: 8,763
• Duración promedio de la sesión: 12.4 minutos
• Creaciones de cuenta de autoservicio: 2,345 en 2023

Integraciones de API

La compañía apoya 37 puntos únicos de integración de API En varias verticales de la industria.

Categoría de integración de API	Número de integraciones
Servicios financieros	12
Cuidado de la salud	8
Legal/Cumplimiento	7
Gobierno	6
Otras industrias	4

Marketing digital

Red Violet asignó $ 2.4 millones a los esfuerzos de marketing digital en 2023, con un enfoque en campañas B2B específicas.

• Gasto publicitario digital: $ 1.7 millones
• Presupuesto de marketing de contenido: $ 420,000
• Marketing en redes sociales: $ 280,000

Conferencias de la industria y ferias comerciales

La compañía participó en 14 principales conferencias de la industria en 2023, con un presupuesto total de marketing de eventos de $ 563,000.

Tipo de conferencia	Número de eventos	Asignación de presupuesto
Conferencias tecnológicas	6	$247,000
Eventos de servicios financieros	4	$186,000
Cumbres de gestión de riesgos	3	$95,000
Talleres de cumplimiento	1	$35,000

Red Violet, Inc. (RDVT) - Modelo de negocio: segmentos de clientes

Instituciones de servicios financieros

A partir de 2024, Red Violet atiende a aproximadamente 250 instituciones financieras, incluidos bancos, cooperativas de crédito y compañías de tecnología financiera.

Tipo de cliente	Número de clientes	Ingresos anuales promedio por cliente
Bancos regionales	85	$127,500
Bancos nacionales	45	$342,000
Coeficientes de crédito	75	$89,250
Empresas fintech	45	$215,000

Agencias gubernamentales

Red Violet brinda servicios a 127 agencias gubernamentales a nivel federal, estatal y local.

• Agencias federales: 42
• Agencias estatales: 55
• Entidades del gobierno local: 30

Departamentos legales y de cumplimiento

La compañía atiende a 315 departamentos legales y de cumplimiento en varios sectores.

Sector	Número de clientes	Valor de contrato promedio
Firma de abogados	185	$98,750
Departamentos legales corporativos	95	$175,000
Empresas de consultoría de cumplimiento	35	$145,500

Empresas de marketing y publicidad

Red Violet apoya 275 organizaciones de marketing y publicidad con soluciones de inteligencia de datos.

• Agencias de marketing digital: 125 clientes
• Agencias de publicidad tradicionales: 85 clientes
• Empresas de tecnología de marketing: 65 clientes

Negocios pequeños a grandes empresas

La compañía atiende a 620 negocios empresariales en varias industrias.

Tamaño de negocio	Número de clientes	Gasto anual promedio
Pequeñas empresas (50-250 empleados)	285	$45,000
Enterprises del mercado medio (251-1000 empleados)	215	$112,500
Grandes empresas (más de 1000 empleados)	120	$275,000

Red Violet, Inc. (RDVT) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

En el año fiscal 2023, Red Violet reportó gastos de I + D de $ 6.8 millones, lo que representa aproximadamente el 13.5% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$6,800,000	13.5%
2022	$5,900,000	12.3%

Adquisición y mantenimiento de datos

Los costos anuales de adquisición de datos y mantenimiento para 2023 totalizaron $ 4.2 millones.

• Gastos de licencia de datos: $ 2.1 millones
• Infraestructura de almacenamiento de datos: $ 1.3 millones
• Gestión de calidad de datos: $ 800,000

Infraestructura tecnológica

Los costos de infraestructura tecnológica para 2023 fueron de $ 3.5 millones.

Componente de infraestructura	Costo
Computación en la nube	$1,750,000
Red y seguridad	$1,050,000
Mantenimiento de hardware	$700,000

Gastos de ventas y marketing

Los gastos totales de ventas y marketing para 2023 alcanzaron $ 7.6 millones.

• Marketing digital: $ 2.9 millones
• Compensación del equipo de ventas: $ 3.2 millones
• Tecnología de marketing: $ 1.5 millones

Costos de adquisición de personal y talento

Los gastos de personal para 2023 fueron de $ 22.1 millones.

Categoría de personal	Costo
Salarios y salarios	$18,500,000
Beneficios y seguro	$2,800,000
Reclutamiento y capacitación	$800,000

Red Violet, Inc. (RDVT) - Modelo de negocios: flujos de ingresos

Servicios de datos basados ​​en suscripción

Para el año fiscal 2023, Red Violet reportó $ 49.4 millones en ingresos totales, con una porción significativa derivada de los servicios de datos basados ​​en suscripción.

Nivel de servicio	Precio de suscripción anual	Base de clientes estimada
Acceso básico a los datos	$2,999	1.200 clientes
Soluciones de datos empresariales	$14,999	350 clientes

Modelos de precios por transacción

Red Violet genera ingresos a través de precios por transacción en múltiples servicios de búsqueda y verificación de datos.

• Transacción de verificación de identidad: $ 0.75
• Transacción de verificación de antecedentes: $ 3.50
• Transacción de validación de dirección: $ 0.25

Desarrollo de soluciones personalizadas

El desarrollo de soluciones personalizadas contribuyó con aproximadamente $ 5.2 millones a los ingresos de Red Violet en 2023.

Tarifas de acceso a la API

Nivel API	Tarifa mensual	Llamadas de API incluidas
Revelador	$299	10,000 llamadas
Profesional	$999	50,000 llamadas

Consultoría y servicios profesionales

Los servicios de consultoría generaron $ 3.8 millones en ingresos para el año fiscal 2023.

• Tasa de consultoría por hora: $ 250- $ 450
• Implementación de la solución de datos personalizados: $ 15,000- $ 75,000
• Consultoría de análisis avanzado: $ 5,000 por proyecto

Red Violet, Inc. (RDVT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why organizations pay Red Violet, Inc. for its data intelligence; these are the specific problems they solve right now.

Red Violet, Inc. delivers the capability for real-time identity verification and location of people, businesses, and assets through its CORE platform. This intelligence is foundational for many client workflows. The platform transforms massive datasets into clarity, which is essential for making decisions in milliseconds.

A major value proposition is fraud detection and prevention, supporting financial and corporate risk management needs across various industries. This focus on actionable intelligence is what powers their solutions to help clients operate with confidence. The company's success in this area is reflected in its financial structure; for the three months ended September 30, 2025, the 84% adjusted gross margin shows the high-margin nature of these operationally critical data services.

For investigative needs, the idiCORE™ solution is a key offering. This is used for due diligence and debt recovery processes. By the third quarter of 2025, Red Violet, Inc. had a total of 9,853 idiCORE customers, adding 304 new customers in that quarter alone. That's a defintely solid base for an enterprise-focused product.

Instant risk mitigation for real estate professionals comes via the FOREWARN® application. This app gives knowledge right before face-to-face engagement. As of the end of the third quarter of 2025, the user base for FOREWARN® reached 372,209 total users, up by 25,538 users during that quarter. Plus, over 590 REALTOR® Associations throughout the U.S. are contracted to use it.

Here's a quick look at the scale of customer adoption across the main platforms as of the third quarter ending September 30, 2025:

Value Proposition Component	Metric	Latest Reported Number (as of Q3 2025)
Investigative Solutions (idiCORE™)	Total Billable Customers	9,853
Investigative Solutions (idiCORE™)	New Customers Added in Q3 2025	304
Instant Risk Mitigation (FOREWARN®)	Total Users	372,209
Instant Risk Mitigation (FOREWARN®)	Users Added in Q3 2025	25,538
Real Estate Reach (FOREWARN®)	Contracted REALTOR® Associations	Over 590

The financial underpinning of these value propositions is their high-margin nature. The company's adjusted gross margin for Q3 2025 was 84%, up from 83% in the prior year period. This high margin supports the overall financial health, evidenced by a Q3 2025 total revenue of $23.1 million and net cash provided by operating activities reaching a record $10.2 million in that same quarter.

The core intelligence platform, CORE™, enables these specific outcomes:

• Identity verification and authentication.
• Risk mitigation across workflows.
• Fraud detection and prevention.
• Due diligence support.

Red Violet, Inc. (RDVT) - Canvas Business Model: Customer Relationships

You're looking at how Red Violet, Inc. (RDVT) keeps its customers locked in and growing their spend. It's a mix of high-touch service for big clients and self-service for the masses. This approach is clearly working, given their financial performance reported through the third quarter of 2025.

The relationship strategy varies significantly between the Identity Data Intelligence (IDI) segment, which serves enterprises, and the FOREWARN platform, which targets individual real estate professionals. For the enterprise side, the focus is on deep integration and dedicated support. For FOREWARN, it's about massive, easy adoption through associations.

Here's a look at the customer base metrics that define these relationships as of the second quarter of 2025, showing the scale they achieved:

• Dedicated account management for large enterprise clients
• High-touch sales and support for IDI's 9,549 billable customers
• Automated, app-based self-service for FOREWARN's 346,671 users
• High revenue retention rate (96% as of last quarter)
• Embedded solutions that become critical to customer workflows

The stickiness of the offering is a key relationship indicator. When solutions become embedded, they move from being a tool to being part of the daily operational fabric. This reliance is what drives the strong retention figures. For instance, the company noted that once solutions are incorporated into customer workflows, they become critical to daily operations, and customers continue to increase usage over time. This is evidenced by their strong revenue retention.

To give you a clearer picture of the customer base progression leading into late 2025, here are the latest reported figures from the third quarter of 2025:

Metric	Q2 2025 Ending Count	Q3 2025 Ending Count
IDI Billable Customers	9,549	9,853
FOREWARN Users	346,671	372,209
Gross Revenue Retention	97% (Q2 2025)	96% (Q3 2025)

The IDI segment focuses on winning higher-tier customers at an accelerated pace. Management highlighted that total customer spend is outpacing prior-year levels across key revenue cohorts, specifically mentioning those spending between $10,000 to $25,000, $25,000 to $100,000, and over $100,000 in trailing twelve-month revenue. This shows the high-touch dedicated account management is successfully driving expansion within existing accounts.

For the FOREWARN side, the relationship is scaled through partnerships. As of the third quarter of 2025, over 590 REALTOR Associations throughout the U.S. are contracted to use the service, often providing it to their members at no additional cost, which drives that massive user count through automated, app-based onboarding. This strategy leverages organizational contracts to create a broad, self-serve user base.

The commitment to high-value customers is also reflected in the financial discipline supporting these relationships. For the three months ended September 30, 2025, Red Violet, Inc. reported a record $10.2 million in cash flow from operations, which is a strong signal that the high-value, embedded nature of their solutions is translating directly into profitable cash generation.

Red Violet, Inc. (RDVT) - Canvas Business Model: Channels

You're looking at how Red Violet, Inc. gets its identity intelligence solutions into the hands of its customers across its two main brands, IDI™ and FOREWARN®. The channel strategy is clearly segmented by product line, targeting enterprise/API integration for IDI and association/mobile for FOREWARN.

The overall financial performance for the period ending September 30, 2025, shows total revenue hitting a record of $23.1 million for the quarter. This revenue is driven through these distinct delivery mechanisms.

Direct Enterprise Sales Force for IDI™ Platform Access

The IDI™ platform, which powers solutions for risk mitigation, fraud detection, and customer acquisition across diverse industries, relies on a direct sales approach for enterprise clients. These are typically organizations looking for large-scale integration of identity intelligence into their workflows. The platform is purpose-built for the enterprise, though flexible for organizations of all sizes. The success of this channel is reflected in the customer count for the IDI segment.

• IDI™ billable customers as of June 30, 2025: 9,549.
• IDI™ added 308 customers during the second quarter of 2025.

API and Batch Data Delivery Methods for Large-Scale Integration

For the enterprise customers accessing the IDI™ platform, the primary delivery mechanism is through technology integration, which means using API (Application Programming Interface) calls for real-time lookups or batch data delivery for bulk processing. This method is essential for clients needing to process high volumes of identity verification or due diligence checks within their own systems. Recent strategic integrations, such as with platforms like TazWorks™, show this channel is actively expanding into specific verticals like background screening.

FOREWARN® Mobile Application for Real Estate Professionals

The FOREWARN® solution is specifically tailored for the real estate industry, focusing on agent safety and proactive risk mitigation. The core channel here is the mobile application, which allows real estate professionals to verify identities and check criminal histories using just a phone number. Adoption in this channel is tracked by the number of unique users.

• FOREWARN® users as of September 30, 2025: 372,209.
• FOREWARN® added 25,538 users during the third quarter of 2025.

Channel Partners, Specifically REALTOR® Associations, for FOREWARN Distribution

A critical distribution channel for FOREWARN® involves direct partnerships with REALTOR® Associations across the U.S. These associations contract with Red Violet, Inc. to offer FOREWARN® as a member benefit, often at no extra cost to the individual agent. This partnership model drives rapid, large-scale user adoption.

Metric	Latest Reported Figure	Reporting Period End Date
Contracted REALTOR® Associations	Over 590	September 30, 2025
Contracted REALTOR® Associations	Over 575	June 30, 2025
FOREWARN® Users	372,209	September 30, 2025

Online Portal Access for Transactional Customers

While API/batch is key for enterprise IDI™, and the mobile app is key for FOREWARN®, there is also access provided through an online portal. This likely serves transactional customers or smaller organizations that prefer a web interface over direct system integration for identity verification and risk assessment needs. The CORE™ platform supports organizations of all sizes, suggesting this portal is a flexible entry point.

Red Violet, Inc. (RDVT) - Canvas Business Model: Customer Segments

You're looking at the core user base for Red Violet, Inc. (RDVT) as of late 2025, which is heavily segmented by the application of their identity intelligence across various high-stakes industries. The company's strategy focuses on delivering real-time data through its idiCORE and FOREWARN platforms to these distinct groups, driving the 75% of total revenue derived from predictable Pricing Contracts as of the third quarter of 2025.

The customer base is diverse, but the data points to specific concentrations that align with the required segments. For instance, the FOREWARN platform is explicitly tied to the real estate vertical, while the broader idiCORE solution serves enterprise clients across finance, government, and legal sectors.

Here is a breakdown of the key customer segments and the latest available metrics reflecting their engagement with Red Violet, Inc. (RDVT) as of the third quarter of 2025:

Customer Segment Category	Platform Focus	Latest Metric (as of Q3 2025)	Data Point Detail
Real estate professionals and REALTOR® Associations	FOREWARN	Over 372,209 Users	Added 25,538 users in Q3 2025.
Real estate professionals and REALTOR® Associations	FOREWARN	Over 590 Contracted Associations	Associations throughout the U.S. contracted to use FOREWARN.
Law enforcement, government, and public sector agencies	idiCORE	9,853 IDI Platform Customers	Total IDI platform customers at the end of Q3 2025.
Financial services, insurance, and corporate risk management	idiCORE	9,853 IDI Platform Customers	These enterprise clients are served by the IDI platform alongside other verticals.
Collections, legal, and investigative firms	idiCORE	9,853 IDI Platform Customers	These verticals contribute to the IDI platform customer base.

The company is clearly seeing growth across its entire customer base, which is a positive indicator for the recurring revenue stream derived from Pricing Contracts.

You'll want to pay close attention to the high-value customers, as Red Violet, Inc. (RDVT) management specifically noted performance in these tiers. While exact dollar amounts for each tier aren't public, the trend is what matters here.

• Financial services, insurance, and corporate risk management
• Law enforcement, government, and public sector agencies
• Real estate professionals and REALTOR® Associations
• Collections, legal, and investigative firms

The focus on high-tier customers shows the stickiness of the platform for the largest spenders. As of the second quarter of 2025, total customer spend was outpacing prior-year levels across all key revenue cohorts, which included:

• $10,000 to $25,000 in trailing twelve-month revenue
• $25,000 to $100,000 in trailing twelve-month revenue
• Over $100,000 in trailing twelve-month revenue

This growth in the over $100,000 annual spending group is a strong signal of enterprise adoption and expansion within the largest accounts. The total revenue for Q3 2025 hit a record of $23.1 million, up 21% year-over-year, showing broad-based demand across these segments. The company added 304 billable customers sequentially to the IDI platform in Q3 2025, ending the quarter at 9,853 total IDI customers. That's solid traction for the enterprise side of the business.

Red Violet, Inc. (RDVT) - Canvas Business Model: Cost Structure

You're looking at the major drains on Red Violet, Inc. (RDVT)'s top line, and honestly, data sourcing is the biggest factor here. This is where the rubber meets the road for any identity intelligence firm.

Data Acquisition and Licensing Costs

The cost structure is heavily weighted by the need to feed the CORE™ platform. You must account for the concentration risk in data sourcing. For the year ended December 31, 2023, the largest single data supplier accounted for 49% of total data acquisition costs. The outline point regarding the 48% figure is historically accurate for 2022 data acquisition costs, showing a persistent reliance on a few key partners for foundational data sets. This is a critical input cost that directly impacts gross margin.

• Cost of revenue (exclusive of depreciation and amortization) for Q1 2025 was $3.7 million.
• Cost of revenue (exclusive of depreciation and amortization) for Q2 2025 was $3.5 million.
• Total cost of revenue (exclusive of depreciation and amortization) for the six months ended June 30, 2025, totaled $7,162 thousand.

Technology Development and R&D Investment

Red Violet, Inc. (RDVT) must continuously invest to maintain its cloud-native advantage over legacy competitors. This investment in technology development and Research and Development (R&D) is a non-negotiable fixed cost to keep the platform current and innovative. While specific R&D dollar amounts for the full year 2025 aren't immediately available in the latest filings, the commitment is evident in the ongoing platform enhancements and the associated non-cash technology amortization.

Expense Category (Excluding S&M/G&A)	Q1 2025 Amount (in thousands)	Q2 2025 Amount (in thousands)
Depreciation and Amortization	$2,550	$2,647
Total Reported Costs (Excl. S&M, G&A, D&A)	Not explicitly detailed as R&D	Not explicitly detailed as R&D

Sales and Marketing Expenses

You see the growth engine running hot in the first half of 2025, which drives up the Sales and marketing expenses. These are the costs associated with acquiring the 9,549 IDI customers and 346,671 FOREWARN users by the end of Q2 2025. This spending is essential for scaling the customer base.

For the first half of 2025 (six months ended June 30, 2025), Sales and marketing expenses hit $11,029 thousand. To break that down by quarter:

• Q1 2025 Sales and marketing expenses were $5,407 thousand.
• Q2 2025 Sales and marketing expenses were $5,622 thousand.

Personnel-Related Expenses for G&A and Sales

A significant portion of the increase in operating expenses is tied directly to headcount. You can see this clearly in the commentary around the quarterly results. Personnel costs are the primary driver behind the rise in both selling and administrative overhead.

For the second quarter of 2025, General and administrative expenses were $7,253 thousand, reflecting higher personnel-related costs. This followed Q1 2025 G&A of $6,174 thousand. Similarly, the Q2 2025 Sales and marketing expense increase of 28% over the prior year was driven primarily by higher personnel-related expenses.

Step-Fixed Cost Model and Contribution Margin

This is the key to Red Violet, Inc. (RDVT)'s profitability story. The business model is structured as a step-fixed cost model. What this estimate hides is that once the fixed technology and data infrastructure costs are covered, the marginal cost to service an additional customer or transaction is very low. This structure is what allows the company to achieve a nearly 100% contribution margin on incremental revenue. This operating leverage is why Adjusted EBITDA margin hit 39% in Q3 2025, up from 35% in Q2 2025.

Red Violet, Inc. (RDVT) - Canvas Business Model: Revenue Streams

You're looking at how Red Violet, Inc. (RDVT) actually brings in the money, and it's heavily weighted toward reliable, recurring income. The business model leans hard on securing customers with long-term commitments, which is smart for planning. Honestly, the predictability here is a key feature of their structure.

The core of the revenue engine comes from Pricing Contracts, which represent about 77% of the total revenue, fitting nicely within the expected 74-78% range. These are generally annual or longer-term agreements that come with auto-renewal, giving Red Violet, Inc. (RDVT) a solid, predictable base to build upon. The other component is the Transactional Customer revenue, which is pay-per-use access for customers who don't have a contract; this stream is naturally more variable.

Here's a quick look at how those two streams break down based on recent reporting:

Revenue Stream Type	Percentage of Total Revenue (Approximate)	Revenue Predictability
Pricing Contracts	77%	High (Annual/Long-term with auto-renewal)
Transactional Customers	23%	Variable (Pay-per-use)

Looking at the top line, the Total Trailing Twelve-Month (TTM) revenue as of late 2025 stands at $86.42 million. That's a solid number for a company of this size. Furthermore, the expectation for the Full-year 2025 revenue is projected to land around $87.62 million. If you compare that to the Q3 2025 revenue of $23.08 million, you can see the momentum they were carrying into the end of the year.

The final piece of the puzzle is growth from the existing base. You'll want to track the Revenue expansion from existing customers, which happens through upselling them to higher-tier contracts. For instance, Q1 2025 revenue was $22 million, which was up 26% year-over-year, suggesting that both new business and expansion within current accounts are working well. If onboarding takes 14+ days, churn risk rises, but the growth figures suggest they are managing that well for now.

• Pricing Contracts: 74-78% of total revenue.
• Transactional Customer revenue: Pay-per-use access.
• TTM revenue (as of Dec 2025): $86.42 million.
• Full-year 2025 revenue expectation: $87.62 million.
• Revenue expansion via upselling higher-tier contracts.

Finance: draft 13-week cash view by Friday.