B

Red Violet, Inc. — Earnings Quality Grade B

RDVT · Technology

Generally healthy

Revenue
$90M
2025
Net Income
$13M
2025
Gross Margin
83.7%
Free Cash Flow
$18M
01

Screening Summary

15
Passed
2
Watch
0
Failed
-2.81
M-Score

Management Signals

View all →
Routine2026-01-13
Derek Dubner · Chief Executive OfficerAppointment
Standard appointment
SEC

Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available

02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 43 days, change +4 days YoY

!
A2AR vs Revenue Growth

AR growth 32.7% exceeds revenue growth 20.0%

A3Revenue vs CFFO

Revenue 20.0%, CFFO 22.5%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 16.6% vs revenue 20.0%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 68.5%. Normal

B4Gross Margin

Gross margin 83.7%, change +2.4pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 2.23. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 1.38

C3Accruals Ratio

Accruals ratio = -14.5%. Low accruals

C4Cash vs Debt

Cash $0.0B covers debt $0.0B

04

Balance Sheet Health

!
D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 44% of equity

D2Leverage

Debt/EBITDA = 0.1x. Healthy

D3Soft Asset Growth

Other assets -19.1% vs revenue 20.0%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 8% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.81 (< -2.22). Unlikely manipulator

04

Beneish M-Score

Manipulation Probability-2.81
-4.0 Clean-2.22 Grey-1.78 Danger0
1.106
DSRI
AR growing faster than revenue?
0.972
GMI
Gross margin declining?
0.917
AQI
Asset quality deteriorating?
1.2
SGI
Revenue growth rate
1.054
DEPI
Depreciation slowing?
0.987
SGAI
SG&A ratio changing?
-0.1446
TATA
Accruals level
0.672
LVGI
Leverage increasing?
05

Altman Z-Score

13.55
Safe Zone
0 Distress1.102.605.0+ Safe
0.4345
Liquidity
0.1097
Cumulative profit
0.1173
Operating efficiency
9.1039
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25