红紫公司2025年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Page PART I - FINANCIAL INFORMATION Item 1.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 Condensed consolidated statements of changes in shareholders' equity for the three months ended March 31, 2025 and 20243Condensed consolidated statements of cash flows for the three months ended March 31, 2025 and 20244Notes to condensed consolidated financial statements5Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations13Item 3.Quantitative and Qualitative Disclosures About Market Risk21Item 4.Controls and Procedures21 PART II - OTHER INFORMATION Item 1.Legal Proceedings22Item 1A.Risk Factors22 SIGNATURES PART I - FINANCIAL INFORMATION Unless otherwise indicated or required by the context, all references in this Quarterly Report on Form 10-Q to “we,” “us,” “our,”“red violet,” or the “Company,” refer to Red Violet, Inc. and its consolidated subsidiaries. RED VIOLET, INC.CONDENSED CONSOLIDATED BALANCE SHEETS RED VIOLET, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS RED VIOLET, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. Summary of significant accounting policies (a) Basis of preparation The accompanying unaudited condensed consolidated financial statements of Red Violet, Inc., a Delaware corporation, and itsconsolidated 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 and 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 financialstatements 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 standards In 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 ratereconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve theeffectiveness of income tax disclosures. This guidance will be effective for the annual periods beginning after December 31, 2024. 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 other (1)For the three months ended March 31, 2025 and 2024, diluted weighted average shares outstanding are calculated by theinclusion of unvested restricted stock units ("RSUs"). 3. Intangible assets, net Intangible assets other t