红紫公司2025年季度报告

PART I - FINANCIAL INFORMATION Financial Statements (unaudited)Condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024Condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 Accounts receivable, net of allowance for doubtful accounts of $166and $188as ofMarch 31, 2025 and December 31, 2024, respectively Prepaid expenses and other current assets1,653Total current assets45,902Property and equipment, net543 Intangible assets, net Weighted average shares outstanding:13,998,02814,491,713 (Amounts in thousands, except share data)(unaudited)1. Summary of significant accounting policies consolidated subsidiaries (collectively, “red violet” or the “Company”), have been prepared in accordance with accountingprinciples generally accepted in the United States (“US GAAP”) and applicable rules and regulations of the Securities andExchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary topresent fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative The information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financialstatements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, The condensed consolidated balance sheet as of December 31, 2024 included herein was derived from the audited financial statements as of that date included in the Form 10-K, but does not include all disclosures required by US GAAP.Principles of consolidation The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. Allsignificant transactions among the Company and its subsidiaries have been eliminated upon consolidation. (b) Recently issued accounting standardsIn December 2023, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standard Updates (“ASU”) No.2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09)," which improves the transparencyof income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate disclosures.In November, 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - ExpenseDisaggregation Disclosures (Subtopic 220-04), Disaggregation of Income Statement Expenses (ASU 2024-03)," which requiresdisclosure within the notes to financial statements of specific information about certain costs and expenses including more detaileddisclosures of certain categories of expenses such as employee compensation, depreciation, and intangible asset amortization thatare components of existing expense captions presented on the face of the income statement. The update is effective for annual 2. Earnings per share Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stockoutstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur if securities or othercontracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method $78,400$(40,912)$37,488$74,409$(38,412)$35,997The gross carrying amount of software developed for internal use includes capitalized costs related to the design, development, and testing of internal-use software. These costs primarily consist of eligible personnel-related expenses, share-based compensation,travel expenses, and other directly attributable costs incurred during the application development stage. The gross carrying amount of acquired intangible assets reflects the acquisition cost of certain data assets for which the Company has obtained perpetual usage As of March 31, 2025, estimated amortization expense related to the Company’s intangible assets for the remainder of 2025through 2030 and thereafter are as follows:(In thousands) Goodwill represents the cost in excess of the fair value of the net assets acquired in a business combination. As of March 31, 2025 owned subsidiary of red violet, effective on October 2, 2014. The Company recognized revenue in accordance with ASC 606,“Revenue from Contracts with Customers”(“Topic 606”). Under this standard, revenue is recognized when control of goods or services is transferred to the Company’s customers, in an amount thatreflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’sperformance obligation is to provide on demand information and identity intelligence solutions to its customers by leveraging its corresponds directly with the value of its performance completed-to-date. In some arrangem