Red Violet announces additional $5M share repurchase authorization

Red Violet announced that on December 19, 2023, its Board of Directors authorized the repurchase of an additional $5.0 million of the Company’s common stock. The authorization is effective immediately and is additive to the previous $5.0 million program, which had approximately $500,000 remaining authorized and available for repurchase as of December 19, 2023. Since the Board’s authorization of the previous $5.0 million share repurchase program on May 2, 2022, the Company has repurchased $4.5 million of its common stock at a weighted average price of $18.78. “With continued confidence in our business, our pipeline, and our ability to deliver strong free cash flow, the Board of Directors and management team believe that the Company’s share repurchase program, in combination with the Company’s continued investment in innovation, is an important component of delivering shareholder value,” stated Derek Dubner, red violet’s Chairman and CEO.