Here are 1-3 brief analogies for Red Violet (RDVT):

• Think of it as LexisNexis Risk Solutions for identity intelligence.
• It's like Experian or TransUnion, but focused on comprehensive identity verification and fraud prevention beyond just credit scores.

• idiCORE: An investigative solution addressing due diligence, risk mitigation, identity authentication, and regulatory compliance.
• FOREWARN: An app-based solution providing instant knowledge to identify and mitigate risk before face-to-face engagement.

Major Customers of Red Violet (RDVT)

Red Violet (RDVT) primarily sells its software and services to other companies and organizations. The provided background information describes the types of entities it serves, rather than listing specific customer company names. Therefore, specific customer company names and their symbols cannot be identified from the given text.

Based on the description, Red Violet's major customers operate within the following sectors and types of organizations:

• Financial services companies
• Insurance companies
• Healthcare companies
• Retail companies
• Telecommunication companies
• Law enforcement agencies
• Government agencies
• Collections firms
• Corporate security firms
• Investigative firms

Derek Dubner, Chairman & Chief Executive Officer

Mr. Dubner has served as Chairman and Chief Executive Officer of Red Violet since its inception in August 2017. He brings over 25 years of experience in the data and analytics industry, having built leading information management companies. Prior to Red Violet, Mr. Dubner was General Counsel of TransUnion following its acquisition of TLO, an information solutions provider, in December 2013, where he served as General Counsel from inception to sale. His past experience also includes roles as Vice President and Associate Group Counsel at Equifax, General Counsel and Chief Compliance Officer at Naviant (an internet marketing company acquired by Equifax), and Corporate Counsel at Seisint (an information solutions provider acquired by RELX's LexisNexis). He also served as CEO of cogint, Red Violet's predecessor, from March 2016 until the spin-off, and Co-CEO from March 2015.

Dan MacLachlan, Chief Financial Officer

Mr. MacLachlan has served as Chief Financial Officer of Red Violet since the company's inception. He has over 15 years of experience as a CFO for data-driven technology companies. Previously, Mr. MacLachlan was the Director of Finance and Chief Financial Officer at TransUnion after its acquisition of TLO, an information solutions provider, where he had served as CFO from TLO's inception to its sale. He also held the position of Chief Financial Officer at JARI Research Corporation, a partnership with the Mayo Clinic, and was the CFO of cogint, an information solutions provider. Before his corporate career, Mr. MacLachlan was a Special Agent with the Federal Bureau of Investigation (FBI).

James Reilly, President

Mr. Reilly has been the President and principal operating officer of Red Violet since its inception. He possesses over 20 years of executive experience in data markets, including a decade in executive management within the data fusion industry. Before joining Red Violet, Mr. Reilly served as an executive at TLO, an information solutions provider, where he was instrumental in growing revenue from startup through its sale to TransUnion. He was also responsible for all customer-facing departments, strategic initiatives, and managing relationships with key strategic partners and distributors at TLO.

Jeff Dell, Chief Information Officer

Mr. Dell serves as the Chief Information Officer of Red Violet. He brings over 30 years of experience in IT and information security, with 25 years in executive roles at data-driven companies. Prior to joining Red Violet in 2015, Mr. Dell founded and served as CEO of Activeworx, Inc., an information security data analytics company that was subsequently acquired by Tripwire, Inc.

Angus Macnab, Chief Technology Officer

Mr. Macnab is the Chief Technology Officer of Red Violet. With over 15 years of experience in data science, engineering, and scientific computing, he joined Red Violet in 2015. During his tenure, Mr. Macnab has held various roles and has been crucial in building and designing significant components of the company's data fusion, entity resolution, and data matching capabilities. His previous positions at Red Violet include Senior Vice President of Data Science and Engineering and Vice President of Analytics and Seattle Operations.

1. Regulatory Compliance and Data Privacy & Security Risks

   Given Red Violet's focus on "identity intelligence" and services like "due diligence, risk mitigation, identity authentication, and regulatory compliance," the company operates in a highly regulated environment concerning personal data. Non-compliance with evolving data privacy regulations (e.g., state, federal, international) or significant data breaches could result in substantial legal penalties, reputational damage, loss of customer trust, and operational disruptions.

2. Accuracy and Efficacy of Proprietary Technologies and Data

   Red Violet's core value proposition relies on its "proprietary technologies and applying analytical capabilities to deliver identity intelligence." The effectiveness of its idiCORE and FOREWARN solutions for purposes like "fraud detection and prevention" and "risk mitigation" is entirely dependent on the accuracy, completeness, and timeliness of the underlying data and the efficacy of its analytical algorithms. Any failure or perceived failure in providing accurate or effective intelligence could lead to customer dissatisfaction, loss of business, and diminished market reputation.

3. Reliance on and Access to Third-Party Data Sources

   While not explicitly detailed, a company delivering "identity intelligence" inherently relies on accessing and integrating vast amounts of data, likely from various third-party sources. Changes in the availability, terms of access, cost, or quality of these essential data sources could significantly impact Red Violet's ability to provide its services, maintain the accuracy of its intelligence, and consequently affect its operational costs and service delivery.

Red Violet (NASDAQ: RDVT) operates within several substantial addressable markets for its identity intelligence solutions, idiCORE and FOREWARN.

The company's overall total addressable market (TAM) is estimated to exceed $10 billion globally.

For its core offerings, Red Violet addresses segments within the broader data analytics, identity verification, fraud detection and prevention, and risk analytics markets:

• Identity Verification Market: The U.S. identity verification market was estimated at approximately $3.28 billion in 2025.
• Fraud Detection and Prevention Market: This global market was valued at $52.82 billion in 2024 and is projected to grow to $246.16 billion by 2032. North America held the largest revenue share in 2024.
• Data Analytics Market: The global data analytics market size was $64.99 billion in 2024, with projections to reach $402.7 billion by 2032. North America accounted for the largest market share in 2022.
• Risk Analytics Market: This market is projected to grow to $51.34 billion by 2030, with North America anticipated to represent the largest market size.

Red Violet's idiCORE product, an investigative solution for due diligence, risk mitigation, identity authentication, and regulatory compliance, serves diverse industries including financial services, insurance, healthcare, and law enforcement. Its applications align with the identity verification, fraud detection and prevention, and risk analytics markets.

FOREWARN, an app-based solution primarily for the real estate industry, focuses on instant identity verification and risk mitigation for face-to-face engagements with consumers. While a specific market size for "real estate agent safety identity verification" is not explicitly stated, FOREWARN operates within the broader identity verification and risk mitigation markets in the U.S. The company has penetrated approximately 50% of the roughly 1,100 realtor associations nationwide.

Red Violet (RDVT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

1. Expansion of Customer Base and High-Value Accounts: Red Violet anticipates continued revenue growth by expanding its customer base for both idiCORE and FOREWARN platforms. The company has shown consistent growth in onboarding higher-tier customers, with 127 customers contributing over $100,000 in annual revenue in 2025, an increase from 96 in 2024. This trend of acquiring and growing high-value clients is a significant driver. Furthermore, the company reported a continued increase in the number of idiCORE customers and FOREWARN users.
2. Advancements in Technology and AI Integration: The company's strategic positioning, strengthened by its cloud-native architecture, embedded artificial intelligence, and comprehensive identity graph, is a key driver for future revenue. Red Violet plans to continue its strategic initiatives in AI integration and product development to drive future growth, leveraging its advanced data analytics and AI-powered solutions for fraud detection and risk management.
3. Increased Adoption and Utilization of FOREWARN in the Real Estate Sector: FOREWARN, Red Violet's app-based solution, is experiencing significant growth in user adoption and partnerships with real estate associations. The company is actively working to make FOREWARN an industry standard in real estate, evidenced by the increase to over 620 realtor associations contracted to use the platform by Q4 2025, up from over 400 in Q4 2023. This expanded reach within the real estate sector is expected to continue driving revenue.
4. Product Development and Workflow Integration: Red Violet's focus for 2026 includes enhancing workflow integration and furthering technological advancements to create enduring value for shareholders. This involves ongoing investments in innovation and infrastructure to improve its offerings and ensure seamless integration for customers. Strategic initiatives in product development are also expected to contribute to future growth.
5. Strong Customer Retention and Increased Volume Across Existing Customer Base: Red Violet has demonstrated a strong gross revenue retention rate, which was 96% in the trailing twelve-month period leading up to Q3 2025. The company has also consistently reported strong and increasing volume across its customer base, indicating that existing customers are utilizing its platforms more extensively, thereby contributing to sustained revenue growth.

Share Repurchases

• Red Violet initiated a stock repurchase program in May 2022.
• Since the program's inception in May 2022, the company repurchased 538,484 shares of common stock, totaling $10.4 million, at an average price of $19.36 per share.
• As of February 27, 2026, $16.4 million remained authorized under the Stock Repurchase Program.

Share Issuance

• A director received a grant of 1,857 Restricted Stock Units (RSUs) on March 2, 2026, which are convertible into common stock and vest over three years.
• Similar RSU grants were made to the same director in March 2025 and December 2025.

Capital Expenditures

• Red Violet Inc invested $124,000 in capital expenditures during the fourth quarter of 2025.
• Capital expenditures are primarily focused on funding long-term assets and infrastructure.
• The company continues to invest in technology, infrastructure, security, go-to-market capabilities, proprietary data, automation, and AI-enabled platforms to enhance efficiency, scalability, and drive future growth.