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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2019	Nov. 04, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	RDVT
Entity Registrant Name	RED VIOLET, INC.
Entity Central Index Key	0001720116
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		11,536,140
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-38407
Entity Tax Identification Number	82-2408531
Entity Address, Address Line One	2650 North Military Trail
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33431
City Area Code	(561)
Local Phone Number	757-4000
Entity Information, Former Legal or Registered Name	None
Document Transition Report	false
Document Quarterly Report	true
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 13,337	$ 9,950
Accounts receivable, net of allowance for doubtful accounts of $30 and $77 as of September 30, 2019 and December 31, 2018, respectively	3,325	2,265
Prepaid expenses and other current assets	894	934
Total current assets	17,556	13,149
Property and equipment, net	704	852
Intangible assets, net	23,050	19,971
Goodwill	5,227	5,227
Right-of-use assets	2,729
Other noncurrent assets	374	628
Total assets	49,640	39,827
Current liabilities:
Accounts payable	2,481	2,246
Accrued expenses and other current liabilities	2,004	1,277
Current portion of operating lease liabilities	477
Deferred revenue	35	26
Total current liabilities	4,997	3,549
Noncurrent operating lease liabilities	2,588
Total liabilities	7,585	3,549
Shareholders' equity:
Preferred stock—$0.001 par value, 10,000,000 shares authorized, and 0 shares issued and outstanding, as of September 30, 2019 and December 31, 2018
Common stock—$0.001 par value, 200,000,000 shares authorized, 11,633,662 and 10,266,613 shares issued, 11,530,515 and 10,266,613 shares outstanding, as of September 30, 2019 and December 31, 2018	12	10
Treasury stock, at cost, 103,147 and 0 shares as of September 30, 2019 and December 31, 2018	(1,255)	0
Additional paid-in capital	54,302	41,052
Accumulated deficit	(11,004)	(4,784)
Total shareholders' equity	42,055	36,278
Total liabilities and shareholders' equity	$ 49,640	$ 39,827

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 30	$ 77
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	11,633,662	10,266,613
Common stock, shares outstanding	11,530,515	10,266,613
Treasury Stock, Shares	103,147	0

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue	$ 8,257	$ 4,360	$ 21,236	$ 11,594
Costs and expenses:
Sales and marketing expenses	1,925	1,126	5,428	3,443
General and administrative expenses	3,498	2,182	11,259	5,776
Depreciation and amortization	750	508	2,049	1,437
Total costs and expenses	9,295	6,049	27,579	16,990
Loss from operations	(1,038)	(1,689)	(6,343)	(5,396)
Interest income, net	46	31	123	31
Other income, net		406		535
Loss before income taxes	(992)	(1,252)	(6,220)	(4,830)
Net loss	$ (992)	$ (1,252)	$ (6,220)	$ (4,830)
Loss per share:
Basic and diluted	$ (0.09)	$ (0.12)	$ (0.59)	$ (0.47)
Weighted average number of shares outstanding:
Basic and diluted	10,917,673	10,266,613	10,497,036	10,266,613
Service [Member]
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization)	$ 3,122	$ 2,233	$ 8,843	$ 6,334

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY AND MEMBER'S CAPITAL (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid- in Capital	Accumulated Deficit	Member's capital
Beginning balance at Dec. 31, 2017	$ 17,736					$ 17,736
Beginning balances, shares at Dec. 31, 2017		1,000
Contribution by Fluent, Inc., includingallocation of expenses	24,264					24,264
Share-based compensation	748			$ 402		346
Net loss	(4,830)				$ (2,746)	(2,084)
Spin-off from Fluent, Inc.		$ 10		40,252		$ (40,262)
Spin-off from Fluent, Inc., shares		10,265,613
Ending balance at Sep. 30, 2018	37,918	$ 10		40,654	(2,746)
Ending balances, shares at Sep. 30, 2018		10,266,613
Beginning balance at Jun. 30, 2018	38,817	$ 10		40,301	(1,494)
Beginning balances, shares at Jun. 30, 2018		10,266,613
Share-based compensation	353			353
Net loss	(1,252)				(1,252)
Ending balance at Sep. 30, 2018	37,918	$ 10		40,654	(2,746)
Ending balances, shares at Sep. 30, 2018		10,266,613
Beginning balance at Dec. 31, 2018	36,278	$ 10		41,052	(4,784)
Beginning balances, shares at Dec. 31, 2018		10,266,613
Vesting of restricted stock units		$ 1		(1)
Vesting of restricted stock units, Shares		686,049
Increase in treasury stock resulting from shares withheld to cover statutory taxes	(1,255)		$ (1,255)
Increase in treasury stock resulting from shares withheld to cover statutory taxes, Shares			(103,147)
Issuance of common stock upon direct offering to certain investors, net of costs	7,436	$ 1		7,435
Issuance of common stock upon direct offering to certain investors, net of costs, Shares		681,000
Share-based compensation	5,816			5,816
Net loss	(6,220)				(6,220)
Ending balance at Sep. 30, 2019	42,055	$ 12	$ (1,255)	54,302	(11,004)
Ending balances, shares at Sep. 30, 2019		11,633,662	103,147
Beginning balance at Jun. 30, 2019	35,251	$ 10		45,253	(10,012)
Beginning balances, shares at Jun. 30, 2019		10,286,613
Vesting of restricted stock units		$ 1		(1)
Vesting of restricted stock units, Shares		666,049
Increase in treasury stock resulting from shares withheld to cover statutory taxes	(1,255)		$ (1,255)
Increase in treasury stock resulting from shares withheld to cover statutory taxes, Shares			(103,147)
Issuance of common stock upon direct offering to certain investors, net of costs	7,436	$ 1		7,435
Issuance of common stock upon direct offering to certain investors, net of costs, Shares		681,000
Share-based compensation	1,615			1,615
Net loss	(992)				(992)
Ending balance at Sep. 30, 2019	$ 42,055	$ 12	$ (1,255)	$ 54,302	$ (11,004)
Ending balances, shares at Sep. 30, 2019		11,633,662	103,147

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY AND MEMBER'S CAPITAL (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Common Stock
Stock issuance cost	$ 55	$ 55
Additional Paid- in Capital
Stock issuance cost	$ 55	$ 55

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (6,220)	$ (4,830)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	2,049	1,437
Share-based compensation expense	5,290	432
Write-off of long-lived assets	30	63
Provision for bad debts	398	246
Allocation of expenses from Fluent, Inc.		325
Noncash lease expenses	313
Changes in assets and liabilities:
Accounts receivable	(1,458)	(781)
Prepaid expenses and other current assets	40	(177)
Other noncurrent assets	254	167
Accounts payable	235	(55)
Accrued expenses and other current liabilities	(183)	(3,619)
Deferred revenue	9	(18)
Operating lease liabilities	(322)
Net cash provided by (used in) operating activities	435	(6,810)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(71)	(51)
Capitalized costs included in intangible assets	(4,413)	(4,497)
Net cash used in investing activities	(4,484)	(4,548)
CASH FLOWS FROM FINANCING ACTIVITIES:
Capital contributed by Fluent, Inc.		23,939
Proceeds from issuance of shares, net of issuance costs	7,436
Net cash provided by financing activities	7,436	23,939
Net increase in cash and cash equivalents	3,387	12,581
Cash and cash equivalents at beginning of period	9,950	65
Cash and cash equivalents at end of period	13,337	12,646
SUPPLEMENTAL DISCLOSURE INFORMATION
Share-based compensation capitalized in intangible assets	526	$ 316
Right-of-use assets obtained in exchange of operating lease liabilities	3,042
Operating lease liabilities arising from obtaining right-of-use assets	$ 3,387

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of significant accounting policies

(a) Basis of preparation

The accompanying unaudited condensed consolidated financial statements of Red Violet, Inc. (“red violet” or the “Company”), a Delaware corporation, have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to those rules and regulations.

On March 26, 2018, Fluent, Inc. (“Fluent”) completed a spin-off of its risk management business from its digital marketing business by way of a distribution of all the shares of common stock of Fluent’s then wholly-owned subsidiary, red violet, to Fluent’s stockholders of record as of March 19, 2018, the record date, and certain warrant holders (the “Spin-off”). The distribution occurred by way of a pro rata stock distribution to such common stock and warrant holders, each of whom received one share of red violet’s common stock for every 7.5 shares of Fluent’s common stock held on the record date or to which they were entitled to under their warrants, which resulted in a distribution of a total of 10,266,613 shares of red violet common stock. Upon the Spin-off, the Company owns Fluent subsidiaries that previously operated Fluent’s risk management business. The Company accounted for the Spin-off in accordance with ASC 805-50-30-5 Initial Measurement- Transactions Between Entities Under Common Control – Transfer Date Measurement and therefore the net assets transferred from Fluent to red violet upon the Spin-off were reflected in red violet’s condensed consolidated financial statements at Fluent’s carrying values at the time of the Spin-off.

The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for any future interim periods or for the full year ending December 31, 2019.

The information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“2018 Form 10-K”).

The condensed consolidated balance sheet as of December 31, 2018 included herein was derived from the audited financial statements as of that date included in the 2018 Form 10-K, but does not include all disclosures required by US GAAP.

The Company has only one operating segment, as defined by Accounting Standards Codification (“ASC”) 280, “Segment Reporting.”

Principles of consolidation

The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant transactions among the Company and its subsidiaries have been eliminated upon consolidation. For periods prior to the Spin-off, these financial statements were prepared on a consolidated and combined basis because certain of the entities were under common control.

Although the Spin-off was completed on March 26, 2018, the Company has reflected the Spin-off in these financial statements as if it occurred on March 31, 2018 as the Company determined that the impact is not material to the condensed consolidated financial statements.

The historical condensed consolidated and combined financial results presented prior to the Spin-off may not be indicative of the results that would have been achieved by the Company had it operated as a separate, standalone entity prior to the Spin-off. The condensed consolidated and combined financial statements presented prior to the Spin-off do not reflect any changes that may occur in the Company’s operations in connection with or as a result of the Spin-off.

(b) Recently issued accounting standards

As an emerging growth company, the Company has left open the opportunity to take advantage of the extended transition period provided to emerging growth companies in Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), however, it is the Company’s present intention to adopt any applicable new accounting standards timely.

In February 2016, Financial Accounting Standard Board (“FASB”) issued ASU No. 2016-02 (“ASU 2016-02”), “Leases (Topic 842),” which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. In July 2018, FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” Topic 842 is effective for public entities and private entities in the first quarter of 2019 and the first quarter of 2020, respectively, on a modified retrospective basis. The Company adopted Topic 842 in the first quarter of 2019. The Company recorded a right-of-use asset and a total operating lease obligation on its condensed consolidated balance sheet of approximately $3.0 million and $3.4 million, respectively, upon the adoption. Refer to Note 10, Leases, for further details.

In June 2016, FASB issued ASU No. 2016-13 (“ASU 2016-13”), “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” In November 2018, FASB issued ASU No. 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” which amends the scope and transition requirements of ASU 2016-13. Topic 326 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. Topic 326 will become effective for public companies beginning January 1, 2020, with early adoption permitted, on a modified retrospective approach. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements and related disclosures.

In August 2018, FASB issued ASU No. 2018-15 (“ASU 2018-15”), “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which requires an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. It also requires the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. This guidance will be effective for the Company for annual reporting periods beginning after December 15, 2020, on a retrospective or prospective basis and early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements and related disclosures.

Loss Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Loss per share

2. Loss per share

Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the periods. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method for unvested shares. Common equivalent shares are excluded from the calculation in the loss periods as their effects would be anti-dilutive.

Prior to the Spin-off, the financial information of red violet represented the consolidated and combined figures of red violet and its subsidiaries. red violet only had 1,000 shares of common stock outstanding, all of which Fluent owned. On March 26, 2018, upon the Spin-off of red violet, an aggregate of 10,266,613 shares of red violet common stock were distributed to Fluent stockholders and certain warrant holders. This number of shares remained outstanding as of September 30, 2018 and is utilized to calculate loss per share for the nine months ended September 30, 2018, as shown in the table below.

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands, except share data)	2019			2018			2019			2018
Numerator:
Net loss	$	(992	)	$	(1,252	)	$	(6,220	)	$	(4,830	)
Denominator:
Weighted average shares outstanding - Basic and diluted		10,917,673			10,266,613			10,497,036			10,266,613
Loss per share:
Basic and diluted:	$	(0.09	)	$	(0.12	)	$	(0.59	)	$	(0.47	)

A total of 1,954,910 unvested restricted stock units (“RSUs”) have been excluded from the diluted loss per share for the three and nine months ended September 30, 2019, and 2,145,500 RSUs have been excluded for the three and nine months ended September 30, 2018, as the impact is anti-dilutive.

Intangible Assets, Net

9 Months Ended

Sep. 30, 2019

Intangible Assets Net Excluding Goodwill [Abstract]

Intangible Assets, Net

3. Intangible assets, net

Intangible assets other than goodwill consist of the following:

September 30, 2019

December 31, 2018

(In thousands)

Amortization

Period

Gross Amount

Accumulated Amortization

Net

Gross Amount

Accumulated Amortization

Net

Software developed for internal use

5-10 years

27,929

(4,879

)

23,050

22,990

(3,019

)

19,971

The gross amount associated with software developed for internal use represents capitalized costs of internally-developed software, including eligible salaries and staff benefits and share-based compensation incurred by relevant employees, and other relevant costs.

Amortization expenses of $689 and $445 for the three months ended September 30, 2019 and 2018, respectively, and $1,860 and $1,235 for the nine months ended September 30, 2019 and 2018, respectively, were included in depreciation and amortization expense. As of September 30, 2019, intangible assets of $4,018, included in the gross amounts of software developed for internal use, have not started amortization, as they are not ready for their intended use.

The Company capitalized costs of internally-developed software of $1,708 and $1,744 during the three months ended September 30, 2019 and 2018, respectively, and $4,939 and $4,813 for the nine months ended September 30, 2019 and 2018, respectively.

As of September 30, 2019, estimated amortization expense related to the Company’s intangible assets for the remainder of 2019 through 2024 and thereafter are as follows:

(In thousands)
Year	September 30, 2019
Remainder of 2019	$	714
2020		3,446
2021		3,642
2022		3,640
2023		3,565
2024 and thereafter		8,043
Total	$	23,050

Goodwill

9 Months Ended

Sep. 30, 2019

Goodwill Disclosure [Abstract]

Goodwill

4. Goodwill

Goodwill represents the cost in excess of the fair value of the net assets acquired in a business combination. As of September 30, 2019 and December 31, 2018, the balance of goodwill of $5,227 was as a result of the acquisition of Interactive Data, LLC, a wholly-owned subsidiary of red violet, effective on October 2, 2014.

In accordance with ASC 350, “Intangibles - Goodwill and Other,” goodwill is tested at least annually for impairment, or when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable, by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that its fair value exceeds the carrying value. The measurement date of the Company’s annual goodwill impairment test is October 1.

As of September 30, 2019 and December 31, 2018, no goodwill impairment charges were recorded.

Revenue Recognition

9 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Revenue Recognition

5. Revenue recognition

On January 1, 2018, the Company adopted ASC 606, “Revenue from Contracts with Customers,” (“Topic 606”) using the modiﬁed retrospective method applied to all contracts that were not completed contracts at the date of initial application. There was no impact on the opening accumulated deﬁcit as of January 1, 2018 due to the adoption of Topic 606. Revenue is recognized when control of goods or services is transferred to the Company’s customers, in an amount that reﬂects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company’s performance obligation is to provide on demand solutions to its customers by leveraging its proprietary technology and applying machine learning and advanced analytics to its massive data repository. The pricing for the customer contracts is based on usage, a monthly fee, or a combination of both.

Available within Topic 606, the Company has applied the portfolio approach practical expedient in accounting for customer revenue as one collective group, rather than individual contracts. Based on the Company’s historical knowledge of the contracts contained in this portfolio and the similar nature and characteristics of the customers, the Company has concluded the financial statement effects are not materially different than if accounting for revenue on a contract by contract basis.

Revenue is recognized over a period of time since the performance obligation is delivered in a series. The Company’s customers simultaneously receive and consume the benefits provided by the Company’s performance as and when provided. Furthermore, the Company has elected the “right to invoice” practical expedient, available within Topic 606, as its measure of progress, since it has a right to payment from a customer in an amount that corresponds directly with the value of its performance completed-to-date. The Company's revenue arrangements do not contain significant financing components.

For the three months ended September 30, 2019 and 2018, 66% and 64% of total revenue was attributable to customers with pricing contracts, respectively, versus 34% and 36% attributable to transactional customers, respectively. For the nine months ended September 30, 2019 and 2018, 65% and 54% of total revenue was attributable to customers with pricing contracts, respectively, versus 35% and 46% attributable to transactional customers, respectively. Pricing contracts are generally annual contracts or longer, with auto renewal.

If a customer pays consideration before the Company transfers services to the customer, those amounts are classiﬁed as deferred revenue. As of September 30, 2019 and December 31, 2018, the balance of deferred revenue was $35 and $26, respectively, all of which is expected to be realized in the next 12 months. In relation to the deferred revenue balance as of December 31, 2018, $0 and $26 was recognized into revenue during the three and nine months ended September 30, 2019, respectively.

As of September 30, 2019, $3,405 of revenue is expected to be recognized in the future for outstanding performance obligations, primarily related to pricing contracts that have a term of more than 12 months. $522 of revenue will be recognized in the remainder of 2019, $1,795 in 2020, $1,085 in 2021, and $3 in 2022. The actual timing of recognition may vary due to factors outside of the Company’s control. The Company excludes variable consideration related entirely to wholly unsatisfied performance obligations and contracts and recognizes such variable consideration based upon the right to invoice the customer.

Sales commissions are incurred and recorded on an ongoing basis over the term of the customer relationship. These costs are recorded in sales and marketing expenses.

In addition, the Company elected the practical expedient to not disclose the value of unsatisﬁed performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.

Income Taxes

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

6. Income taxes

The Company is subject to federal and state income taxes in the United States. The Company’s tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if its estimated annual tax rate changes, the Company makes a cumulative adjustment in that quarter.

red violet is a “C” corporation, while its subsidiaries are all limited liability companies. Before the Spin-off, red violet and its subsidiaries were consolidated with Fluent for U.S. federal income tax purposes. However, for purposes of these financial statements, the income tax provisions prior to the Spin-off were prepared assuming the entities filed separate tax returns.

The Company’s effective income tax rate differed from the statutory federal income tax rate of 21% for the three and nine months ended September 30, 2019 and 2018. For the three and nine months ended September 30, 2019 and 2018, the effective income tax rate was 0%, and the difference is primarily the result of the full valuation allowance applied against the Company’s deferred tax assets.

The Company assesses its income tax positions and records tax benefits for all years subject to examination based upon its evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, the Company has recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit has been recognized in the Company’s financial statements.

The Company continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. All of the Company’s income tax filings since 2015 remain open for tax examinations.

The Company does not have any unrecognized tax benefits as of September 30, 2019 and December 31, 2018.

Common Stock and Treasury Stock

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Common Stock and Treasury Stock

7. Common stock and treasury stock

Common stock

As of September 30, 2019 and December 31, 2018, the number of issued shares of common stock was 11,633,662 and 10,266,613, respectively, which included shares of treasury stock of 103,417 and 0, respectively. The change in the number of issued shares of common stock was due to the following issuance:

•	An aggregate of 686,049 shares of common stock were issued as a result of the vesting of RSUs, of which, 103,147 shares of common stock were withheld to pay withholding taxes upon such vesting, which are reflected in treasury stock.

•	An aggregate of 681,000 shares of common stock, with an issuance price of $11.00 per share, were issued in a registered direct offering to certain investors, pursuant to a securities purchase agreement entered into on August 28, 2019. Net proceeds of $7,436 were received in August 2019.

Treasury stock

As of September 30, 2019, the Company held 103,147 shares of treasury stock, with a cost of $1,255. There was no treasury stock as of December 31, 2018. This increase in treasury stock was due to shares withheld to pay withholding taxes upon the vesting of RSUs.

Share-based Compensation

9 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-based Compensation

8. Share-based compensation

On March 22, 2018, the board of directors of the Company and Fluent, in its capacity as sole stockholder of red violet prior to the Spin-off, approved the Red Violet, Inc. 2018 Stock Incentive Plan (the “2018 Plan”), which became effective immediately prior to the Spin-off. A total of 3,000,000 shares of common stock were authorized to be issued under the 2018 Plan. The primary purpose of the 2018 Plan is to attract, retain, reward and motivate certain individuals by providing them with an opportunity to acquire or increase a proprietary interest in the Company and to incentivize them to expend maximum effort for the growth and success of the Company, so as to strengthen the mutuality of the interests between such individuals and the stockholders of the Company.

As of September 30, 2019, there were 346,791 shares of common stock reserved for issuance under the 2018 Plan.

Details of unvested RSU activity during the nine months ended September 30, 2019 were as follows:

	Number of units			Weighted average grant-date fair value
Unvested as of December 31, 2018 ⁽¹⁾		2,121,000		$	7.65
Granted ⁽¹⁾⁽²⁾		577,000		$	10.12
Vested and delivered		(582,902	)	$	7.63
Withheld as treasury stock⁽³⁾		(103,147	)	$	7.75
Vested not delivered		(12,250	)	$	6.13
Forfeited		(44,791	)	$	7.50
Unvested as of September 30, 2019		1,954,910		$	8.39

(1)

On September 5, 2018 and January 16, 2019, the Company granted an aggregate of 1,487,500 RSUs (included in “Unvested as of December 31, 2018” above) and 90,000 RSUs (included in “Granted” above), respectively, subject to both time- and performance-based requirements, to certain of its employees and directors, at a grant date fair value of $7.69 per share and $7.25 per share, respectively, with a three-year vesting period. Such RSU grants shall not vest unless and until the Company has, for any fiscal quarter in which the RSUs are outstanding, (i) gross revenue determined in accordance with the Company’s reviewed or audited financial statements in excess of $7.0 million for such fiscal quarter, (ii) positive adjusted EBITDA, as determined based on amounts derived from the Company’s reviewed or audited financial statements for such fiscal quarter, and (iii) the participant continues to provide services to the Company either as an employee, director or consultant on the last day of the quarter that the performance criteria are met (collectively, the “2018 Performance Criteria”). Provided the 2018 Performance Criteria are met, the RSUs will vest in accordance with the time-based requirements contained in the award agreement over three years. In the event of a change of control, all RSUs which have not vested on the date of such change of control shall immediately vest even if the 2018 Performance Criteria have not been met. As of June 30, 2019, the Company determined that the 2018 Performance Criteria were met and expects to issue shares underlying the RSUs in accordance with the continuing time-based vesting requirement.

As a result of meeting the 2018 Performance Criteria as of June 30, 2019, the Company recognized a total of $1,075 and $4,489 of share-based compensation expense relating to RSUs with 2018 Performance Criteria during the three and nine months ended September 30, 2019, respectively. Of the $4,489 recognized, $1,309 represented a catch-up of unamortized expense from September 5, 2018 through December 31, 2018, which was not recognized in prior periods because the Company determined at each period end that it was not probable that the 2018 Performance Criteria would be met.

(2)

On August 28, 2019, the Company granted an aggregate of 373,500 RSUs, subject to both time- and performance-based requirements, to certain employees, at a grant date fair value of $11.42 per share, with vesting periods of either three or four years. Such RSU grants shall not vest unless and until the Company has, for any fiscal quarter in which the RSUs are outstanding, (i) gross revenue determined in accordance with the Company’s reviewed or audited financial statements in excess of (a) $10.0 million for such fiscal quarter and positive adjusted EBITDA of at least $1.5 million , as determined based on amounts derived from the Company’s reviewed or audited financial statements for such fiscal quarter for 248,500 RSUs, and (b) $12.5 million for such fiscal quarter and positive adjusted EBITDA of at least $2.0 million, as determined based on amounts derived from the Company’s reviewed or audited financial statements for such fiscal quarter for 125,000 RSUs, and (ii) the participant continues to provide services to the Company either as an employee, director or consultant on the last day of the quarter that the performance criteria is met (collectively, the “2019 Performance Criteria”). Provided the respective 2019 Performance Criteria are met, the RSUs will vest in accordance with the time-based requirements contained in the award agreement over three or four years. In the event of a change of control, all RSUs which have not vested on the date of such change of control shall immediately vest even if the 2019 Performance Criteria have not been met. As of September 30, 2019, the Company determined that it is probable that the 2019 Performance Criteria will be met and therefore, began to record the related amortization expense on the grant date.

(3)	The increase in treasury stock was due to shares withheld to pay statutory taxes upon the vesting of RSUs during the nine months ended September 30, 2019. Refer to Note 7 for details.

As of September 30, 2019, unrecognized share-based compensation expense associated with the granted RSUs amounted to $15,105, which is expected to be recognized over a remaining weighted average period of 2.3 years.

Share-based compensation was allocated to the following accounts in the condensed consolidated financial statements for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2019		2018		2019		2018
Sales and marketing expenses	$	114	$	54	$	290	$	95
General and administrative expenses		1,293		164		5,000		337
Share-based compensation expense		1,407		218		5,290		432
Capitalized in intangible assets		208		135		526		316
Total	$	1,615	$	353	$	5,816	$	748

The amounts recorded in the nine months ended September 30, 2018 included an allocation of share-based compensation related to the share-based awards granted by Fluent to Company employees or non-employees prior to the Spin-off.

Related Party Transactions

9 Months Ended

Sep. 30, 2019

Related Party Transactions

9. Related party transactions

Services Agreement

On August 7, 2018, the Company entered into an executive chairman services agreement with Mr. Michael Brauser, the then Executive Chairman of the Company, pursuant to which Mr. Brauser will be providing recommendations on organizational and capital structure, future financing needs and future acquisitions or strategic transactions (“Services Agreement”), for a term of one year, automatically renewing for additional one-year periods unless either party provides written notice to the other of its intent not to renew not fewer than 30 days prior to the expiration of the then current term. Mr. Brauser continues to provide services as a consultant under the Services Agreement after his resignation as Executive Chairman and as a member of the board of directors effective on September 9, 2018. Under the Services Agreement, Mr. Brauser receives cash compensation of $30 per month and is entitled to participate in the Company’s incentive compensation plan. The Company recognized consulting service fees relating to the Services Agreement of a total of $90 and $270 during the three and nine months ended September 30, 2019, respectively, and $90 during the three and nine months ended September 30, 2018. In addition, amortization of share-based compensation expense of $343 and $1,458 in relation to the RSUs with the 2018 Performance Criteria previously granted to Mr. Brauser was recognized during the three and nine months ended September 30, 2019, respectively.

Contribution by Fluent

Contribution by Fluent represents cash funding provided or the portion of certain expenses allocated by Fluent to red violet, on or prior to the Spin-off.

These allocated expenses are primarily corporate employee salaries and benefits of the functional groups (inclusive of executive management, accounting, administrative and information technology) and corporate administrative expenses (inclusive of legal services, accounting and finance services and other corporate and infrastructure services). Corporate employee salaries and benefits were allocated on the basis of time spent, and corporate administrative expenses were allocated on the basis of relative percentage of services utilized or benefit received. red violet recorded expenses of $325 for the three months ended March 31, 2018 as a result of the allocation of expenses from Fluent. Upon the Spin-off, Fluent no longer allocates any expenses to red violet.

In addition, share-based compensation of $344, relating to the share-based awards granted by Fluent prior to the Spin-off, was recorded during the three months ended March 31, 2018.

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

10. Leases

On January 1, 2019, the Company adopted Leases (Topic 842) using the modified retrospective method applied to all leases existing at the date of initial application. The Company elected the practical expedients to not reassess whether any existing contracts are or contain leases, not reassess the lease classification for any existing leases, and not reassess initial direct costs for any existing leases, upon the adoption of Leases (Topic 842).

The Company leases its corporate headquarters of 21,020 rentable square feet in accordance with a non-cancelable 89-month operating lease agreement as amended and effective in January 2017. The Company also leases an additional office space of 6,003 rentable square feet in accordance with a non-cancellable 90-month operating lease agreement entered into in April 2017, with an option to extend for additional 60 months. The extension option is not included in the determination of the lease term as it is not reasonably certain to be exercised.

For the three and nine months ended September 30, 2019, a summary of the Company’s lease information is shown below:

	Three Months Ended		Nine Months Ended
(In thousands)	September 30, 2019		September 30, 2019
Lease cost:
Operating lease costs	$	168	$	504
Other information:
Cash paid for operating leases	$	172	$	513
Right-of-use assets obtained in exchange for operating lease liabilities	$	-	$	3,042
Weighted average discount rate for operating leases ⁽¹⁾		-		8.0	%

(1)

The Company used 8.0%, its estimated incremental borrowing rate for similar secured assets, as the discount rate for the leases to determine the present value of the lease payments because the implicit rate in each lease is not readily determinable. The discount rate was calculated on the basis of information available as of January 1, 2019, the application date.

As of September 30, 2019, the weighted average remaining operating lease term was 5.1 years.

As of September 30, 2019, scheduled future maturities and present value of the operating lease liabilities are as follows:

(In thousands)
Year	September 30, 2019
Remainder of 2019	$	174
2020		705
2021		724
2022		743
2023		765
2024 and thereafter		619
Total maturities	$	3,730
Present value included in condensed consolidated balance sheet:
Current portion of operating lease liabilities	$	477
Noncurrent operating lease liabilities		2,588
Total operating lease liabilities	$	3,065
Difference between the maturities and the present value of operating lease liabilities	$	665

Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and contingencies

(a) Capital commitment

The Company incurred data costs of $1,946 and $1,447 for the three months ended September 30, 2019 and 2018, respectively, and $5,501 and $4,080 for the nine months ended September 30, 2019 and 2018, respectively, under certain data licensing agreements. As of September 30, 2019, material capital commitments under certain data licensing agreements were $16,689, shown as follows:

(In thousands)
Year	September 30, 2019
Remainder of 2019	$	1,916
2020		7,506
2021		5,615
2022		1,652
Total	$	16,689

(b) Contingencies

On June 21, 2018, the U.S. Supreme Court in South Dakota v. Wayfair, Inc. et al, overturned prior law which required physical presence for nexus and endorsed economic nexus as a basis for South Dakota to require online merchants to collect and remit sales taxes, even if the business does not have an in-state physical presence (the "Wayfair Decision"). As of September 30, 2019, the vast majority of states have enacted or announced their own interpretation of the Wayfair Decision. The Company collects and remits sales tax in certain states as a result of the Wayfair Decision and as a result of its continued overall compliance and review practice related to its sales and use tax obligations. In addition, the Company is currently undergoing a state sales and use tax examination.

The Company establishes accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and it discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for our financial statements to not be misleading. To estimate whether a loss contingency should be accrued by a charge to income, the Company evaluates, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of the loss. The Company does not record liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated. Based upon its analysis of potential sales and use tax labilities, the Company determined that there were no matters that required an accrual as of the balance sheet date, September 30, 2019. The Company estimates that adverse decisions, if any, related to state sales and use tax examinations could result in a possible loss up to $413.

The Company may be involved in litigation from time to time in the ordinary course of business. The Company does not believe that the ultimate resolution of any such matters will have a material adverse effect on its business, financial condition, results of operations or cash flows. However, the results of such matters cannot be predicted with certainty and the Company cannot assure you that the ultimate resolution of any legal or administrative proceeding or dispute will not have a material adverse effect on its business, financial condition, results of operations and cash flows.

12. Subsequent event

On October 28, 2019, the Company’s compensation committee approved an aggregate of 340,500 RSUs to certain of its employees and directors, with a vesting period of 3 years, among which 307,500 RSUs are also subject to the 2019 Performance Criteria.

Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

12. Subsequent event

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Preparation	(a) Basis of preparation The accompanying unaudited condensed consolidated financial statements of Red Violet, Inc. (“red violet” or the “Company”), a Delaware corporation, have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to those rules and regulations. On March 26, 2018, Fluent, Inc. (“Fluent”) completed a spin-off of its risk management business from its digital marketing business by way of a distribution of all the shares of common stock of Fluent’s then wholly-owned subsidiary, red violet, to Fluent’s stockholders of record as of March 19, 2018, the record date, and certain warrant holders (the “Spin-off”). The distribution occurred by way of a pro rata stock distribution to such common stock and warrant holders, each of whom received one share of red violet’s common stock for every 7.5 shares of Fluent’s common stock held on the record date or to which they were entitled to under their warrants, which resulted in a distribution of a total of 10,266,613 shares of red violet common stock. Upon the Spin-off, the Company owns Fluent subsidiaries that previously operated Fluent’s risk management business. The Company accounted for the Spin-off in accordance with ASC 805-50-30-5 Initial Measurement- Transactions Between Entities Under Common Control – Transfer Date Measurement and therefore the net assets transferred from Fluent to red violet upon the Spin-off were reflected in red violet’s condensed consolidated financial statements at Fluent’s carrying values at the time of the Spin-off. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for any future interim periods or for the full year ending December 31, 2019. The information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“2018 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2018 included herein was derived from the audited financial statements as of that date included in the 2018 Form 10-K, but does not include all disclosures required by US GAAP. The Company has only one operating segment, as defined by Accounting Standards Codification (“ASC”) 280, “Segment Reporting.” Principles of consolidation The condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant transactions among the Company and its subsidiaries have been eliminated upon consolidation. For periods prior to the Spin-off, these financial statements were prepared on a consolidated and combined basis because certain of the entities were under common control. Although the Spin-off was completed on March 26, 2018, the Company has reflected the Spin-off in these financial statements as if it occurred on March 31, 2018 as the Company determined that the impact is not material to the condensed consolidated financial statements. The historical condensed consolidated and combined financial results presented prior to the Spin-off may not be indicative of the results that would have been achieved by the Company had it operated as a separate, standalone entity prior to the Spin-off. The condensed consolidated and combined financial statements presented prior to the Spin-off do not reflect any changes that may occur in the Company’s operations in connection with or as a result of the Spin-off.
Recently Issued Accounting Standards	(b) Recently issued accounting standards As an emerging growth company, the Company has left open the opportunity to take advantage of the extended transition period provided to emerging growth companies in Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), however, it is the Company’s present intention to adopt any applicable new accounting standards timely. In February 2016, Financial Accounting Standard Board (“FASB”) issued ASU No. 2016-02 (“ASU 2016-02”), “Leases (Topic 842),” which generally requires companies to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet. In July 2018, FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases,” and ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements.” Topic 842 is effective for public entities and private entities in the first quarter of 2019 and the first quarter of 2020, respectively, on a modified retrospective basis. The Company adopted Topic 842 in the first quarter of 2019. The Company recorded a right-of-use asset and a total operating lease obligation on its condensed consolidated balance sheet of approximately $3.0 million and $3.4 million, respectively, upon the adoption. Refer to Note 10, Leases, for further details. In June 2016, FASB issued ASU No. 2016-13 (“ASU 2016-13”), “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” In November 2018, FASB issued ASU No. 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” which amends the scope and transition requirements of ASU 2016-13. Topic 326 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. Topic 326 will become effective for public companies beginning January 1, 2020, with early adoption permitted, on a modified retrospective approach. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements and related disclosures. In August 2018, FASB issued ASU No. 2018-15 (“ASU 2018-15”), “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which requires an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. It also requires the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. This guidance will be effective for the Company for annual reporting periods beginning after December 15, 2020, on a retrospective or prospective basis and early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements and related disclosures.

Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Loss Per Share

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands, except share data)	2019			2018			2019			2018
Numerator:
Net loss	$	(992	)	$	(1,252	)	$	(6,220	)	$	(4,830	)
Denominator:
Weighted average shares outstanding - Basic and diluted		10,917,673			10,266,613			10,497,036			10,266,613
Loss per share:
Basic and diluted:	$	(0.09	)	$	(0.12	)	$	(0.59	)	$	(0.47	)

Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2019

Intangible Assets Net Excluding Goodwill [Abstract]

Intangible Assets Other than Goodwill

Intangible assets other than goodwill consist of the following:

September 30, 2019

December 31, 2018

(In thousands)

Amortization

Period

Gross Amount

Accumulated Amortization

Net

Gross Amount

Accumulated Amortization

Net

Software developed for internal use

5-10 years

27,929

(4,879

)

23,050

22,990

(3,019

)

19,971

Schedule of Estimated Amortization Expense

As of September 30, 2019, estimated amortization expense related to the Company’s intangible assets for the remainder of 2019 through 2024 and thereafter are as follows:

(In thousands)
Year	September 30, 2019
Remainder of 2019	$	714
2020		3,446
2021		3,642
2022		3,640
2023		3,565
2024 and thereafter		8,043
Total	$	23,050

Share-based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Unvested Restricted Stock Units

Details of unvested RSU activity during the nine months ended September 30, 2019 were as follows:

	Number of units			Weighted average grant-date fair value
Unvested as of December 31, 2018 ⁽¹⁾		2,121,000		$	7.65
Granted ⁽¹⁾⁽²⁾		577,000		$	10.12
Vested and delivered		(582,902	)	$	7.63
Withheld as treasury stock⁽³⁾		(103,147	)	$	7.75
Vested not delivered		(12,250	)	$	6.13
Forfeited		(44,791	)	$	7.50
Unvested as of September 30, 2019		1,954,910		$	8.39

(1)

(2)

(3)	The increase in treasury stock was due to shares withheld to pay statutory taxes upon the vesting of RSUs during the nine months ended September 30, 2019. Refer to Note 7 for details.

Summary of Allocated Share-based Compensation

Share-based compensation was allocated to the following accounts in the condensed consolidated financial statements for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2019		2018		2019		2018
Sales and marketing expenses	$	114	$	54	$	290	$	95
General and administrative expenses		1,293		164		5,000		337
Share-based compensation expense		1,407		218		5,290		432
Capitalized in intangible assets		208		135		526		316
Total	$	1,615	$	353	$	5,816	$	748

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Summary of Company's Lease Information

For the three and nine months ended September 30, 2019, a summary of the Company’s lease information is shown below:

	Three Months Ended		Nine Months Ended
(In thousands)	September 30, 2019		September 30, 2019
Lease cost:
Operating lease costs	$	168	$	504
Other information:
Cash paid for operating leases	$	172	$	513
Right-of-use assets obtained in exchange for operating lease liabilities	$	-	$	3,042
Weighted average discount rate for operating leases ⁽¹⁾		-		8.0	%

(1)

Scheduled Future Maturities and Present Value of Operating Lease Liabilities

As of September 30, 2019, scheduled future maturities and present value of the operating lease liabilities are as follows:

(In thousands)
Year	September 30, 2019
Remainder of 2019	$	174
2020		705
2021		724
2022		743
2023		765
2024 and thereafter		619
Total maturities	$	3,730
Present value included in condensed consolidated balance sheet:
Current portion of operating lease liabilities	$	477
Noncurrent operating lease liabilities		2,588
Total operating lease liabilities	$	3,065
Difference between the maturities and the present value of operating lease liabilities	$	665

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Future Minimum Capital Payments under Certain Data Licensing Agreements

(In thousands)
Year	September 30, 2019
Remainder of 2019	$	1,916
2020		7,506
2021		5,615
2022		1,652
Total	$	16,689

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($) Segment	Mar. 26, 2018 shares
Summary Of Significant Accounting Policies [Line Items]
Spin-off completed date	Mar. 26, 2018
Common stock distribution ratio at spin-off	13.33%
Common stock shares distributed at spin-off \| shares		10,266,613
Operating segments \| Segment	1
Right of use assets	$ 2,729
Total operating lease obligation	3,065
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Right of use assets	3,000
Total operating lease obligation	$ 3,400

Loss Per Share - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Mar. 26, 2018	Dec. 31, 2017
Earnings Per Share [Line Items]
Common stock, shares outstanding	11,530,515		11,530,515		10,266,613		1,000
Common stock shares distributed at spin-off						10,266,613
Restricted Stock Units (RSUs)
Earnings Per Share [Line Items]
Shares excluded from the diluted loss per share calculation	1,954,910	2,145,500	1,954,910	2,145,500

Loss Per Share - Schedule of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net loss	$ (992)	$ (1,252)	$ (6,220)	$ (4,830)
Weighted average shares outstanding - Basic and diluted	10,917,673	10,266,613	10,497,036	10,266,613
Loss per share:
Basic and diluted:	$ (0.09)	$ (0.12)	$ (0.59)	$ (0.47)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Intangible Assets, Net - Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Net	$ 23,050	$ 19,971
Software Developed for Internal Use
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Gross Amount	27,929	22,990
Intangible Assets, Accumulated Amortization	(4,879)	(3,019)
Intangible Assets, Net	$ 23,050	$ 19,971
Software Developed for Internal Use \| Minimum
Finite Lived Intangible Assets [Line Items]
Amortization Period	5 years
Software Developed for Internal Use \| Maximum
Finite Lived Intangible Assets [Line Items]
Amortization Period	10 years

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Finite Lived Intangible Assets [Line Items]
Amortization expenses	$ 689	$ 445	$ 1,860	$ 1,235
Internally-developed Software
Finite Lived Intangible Assets [Line Items]
Intangible assets that have not started amortization	4,018		4,018
Capitalized costs of internally-developed software	$ 1,708	$ 1,744	$ 4,939	$ 4,813

Intangible Assets, Net - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Intangible Assets Net Excluding Goodwill [Abstract]
Remainder of 2019	$ 714
2020	3,446
2021	3,642
2022	3,640
2023	3,565
2024 and thereafter	8,043
Intangible Assets, Net	$ 23,050	$ 19,971

Goodwill - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
Goodwill - Additional Information (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Goodwill Disclosure [Abstract]
Goodwill	$ 5,227,000	$ 5,227,000
Date of annual goodwill impairment test	October 1
Goodwill impairment charges	$ 0	$ 0

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Revenue Recognition [Line Items]
Deferred revenue	$ 35		$ 35		$ 26
Deferred revenue realization period			12 months
Revenue recognized, previously reported as deferred	0		$ 26
Estimated revenue expected to be recognized in the future	$ 3,405		$ 3,405
Period over which subscription contract terms exceed			12 months
Customers With Pricing Contracts
Revenue Recognition [Line Items]
Percentage of Revenue	66.00%	64.00%	65.00%	54.00%
Transactional Customers
Revenue Recognition [Line Items]
Percentage of Revenue	34.00%	36.00%	35.00%	46.00%

Revenue Recognition - Additional Information (Details 1) $ in Thousands	Sep. 30, 2019 USD ($)
Revenue Recognition [Line Items]
Estimated revenue expected to be recognized in the future	$ 3,405
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Revenue Recognition [Line Items]
Estimated revenue expected to be recognized in the future	$ 522
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-01-01
Revenue Recognition [Line Items]
Estimated revenue expected to be recognized in the future	$ 1,795
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Recognition [Line Items]
Estimated revenue expected to be recognized in the future	$ 1,085
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Recognition [Line Items]
Estimated revenue expected to be recognized in the future	$ 3
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%	21.00%
Effective income tax rate, percentage	0.00%	0.00%	0.00%	0.00%
Percentage of tax benefits likelihood of being realized upon settlement of tax authority			greater than 50%
Unrecognized tax benefits	$ 0		$ 0		$ 0

Common Stock and Treasury Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Common stock, shares issued	11,633,662	10,266,613
Treasury Stock, issued	103,417	0
Issuance of common stock upon direct offering to certain investors, net of issuance costs	681,000
Common Stock Issuance Price	$ 11.00
Proceeds from issuance of shares, net of issuance costs	$ 7,436
Treasury Stock, Value	$ 1,255	$ 0
Treasury Stock, Shares	103,147	0
Common Stock
Vesting of restricted stock units, Shares	686,049
Treasury Stock
Number of common stock withheld to pay withholding taxes	103,147

Share-based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		4 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 22, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amortization of share based compensation expense	$ 1,407	$ 218		$ 5,290	$ 432
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation costs in respect of granted RSUs	$ 15,105			$ 15,105
Unrecognized share-based compensation remaining weighted average period				2 years 3 months 18 days
2018 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common stock authorized						3,000,000
Common stock reserved for future issuance	346,791			346,791
2018 Stock Incentive Plan \| Performance Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amortization of share based compensation expense	$ 1,075			$ 4,489
Unamortized expense of stock based compensation			$ 1,309

Share-based Compensation - Schedule of Unvested RSU Activity (Detail) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2019 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested, Number of units Beginning balance \| shares	2,121,000
Granted, Number of units \| shares	577,000
Vested and delivered, Number of units \| shares	(582,902)
Withheld as treasury stock, Number of units \| shares	(103,147)
Vested not delivered, Number of units \| shares	(12,250)
Forfeited, Number of units \| shares	(44,791)
Unvested, Number of units Ending balance \| shares	1,954,910
Unvested, Weighted average grant-date fair value, Beginning balance \| $ / shares	$ 7.65
Granted, Weighted average grant-date fair value \| $ / shares	10.12
Vested and delivered, Weighted average grant-date fair value \| $ / shares	7.63
Withheld as treasury stock ,Weighted average grant - date fair value \| $ / shares	7.75
Vested not delivered, Weighted average grant-date fair value \| $ / shares	6.13
Forfeited, Weighted average grant-date fair value \| $ / shares	7.50
Unvested, Weighted average grant-date fair value, Ending balance \| $ / shares	$ 8.39

Share-based Compensation - Schedule of Unvested RSU Activity (Parenthetical) (Detail) - 2018 Stock Incentive Plan - Performance Based Restricted Stock Units - USD ($) $ / shares in Units, $ in Millions	Aug. 28, 2019	Jan. 16, 2019	Sep. 05, 2018
Employees and Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units granted		90,000	1,487,500
Grant date fair value per share		$ 7.25	$ 7.69
Vesting period		3 years	3 years
Gross revenue threshold limit for vesting of grants			$ 7.0
Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units granted	373,500
Grant date fair value per share	$ 11.42
Employees \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units granted	125,000
Vesting period	3 years
Gross revenue threshold limit for vesting of grants	$ 10.0
Positive adjusted EBITDA threshold limit for vesting of grants	$ 1.5
Employees \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units granted	248,500
Vesting period	4 years
Gross revenue threshold limit for vesting of grants	$ 12.5
Positive adjusted EBITDA threshold limit for vesting of grants	$ 2.0

Share-based Compensation - Summary of Allocated Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based compensation recognized
Share-based compensation expense	$ 1,407	$ 218	$ 5,290	$ 432
Capitalized in intangible assets	208	135	526	316
Total	1,615	353	5,816	748
Sales and Marketing Expenses
Share-based compensation recognized
Share-based compensation expense	114	54	290	95
General and Administrative Expenses
Share-based compensation recognized
Share-based compensation expense	$ 1,293	$ 164	$ 5,000	$ 337

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
	Aug. 07, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Related Party Transaction [Line Items]
Share-based compensation expense		$ 1,407	$ 218		$ 5,290	$ 432
Share-based compensation amount		1,615	353		5,816	748
Services Agreement \| Michael Brauser-Former Executive Chairman
Related Party Transaction [Line Items]
Term of agreement, related party	1 year
Renewal term of agreement, related party	1 year
Consulting service fee monthly payment	$ 30
Consulting service fee recognized amount		90	$ 90		270	$ 90
Services Agreement \| Michael Brauser-Former Executive Chairman \| Restricted Stock Units (RSUs)
Related Party Transaction [Line Items]
Share-based compensation expense		$ 343			$ 1,458
Fluent, Inc.
Related Party Transaction [Line Items]
Allocation of expenses from Fluent				$ 325
Share-based compensation amount				$ 344

Leases - Additional Information (Details) - ft²	9 Months Ended
Leases - Additional Information (Details) - ft²	Sep. 30, 2019	Apr. 30, 2017	Jan. 31, 2017
Leases [Abstract]
Operating leases rentable square feet		6,003	21,020
Operating lease agreement		90 months	89 months
Operating lease, existence of option to extend	true
Operating lease, extended term		60 months
Weighted average remaining operating lease	5 years 1 month 6 days

Leases - Summary of Company's Lease Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)
Lease cost:
Operating lease costs	$ 168	$ 504
Other information:
Cash paid for operating leases	$ 172	513
Right-of-use assets obtained in exchange for operating lease liabilities		$ 3,042
Weighted average discount rate for operating leases	8.00%	8.00%

Leases - Summary of Company's Lease Information (Paranthetical) (Details)	Sep. 30, 2019
Leases [Abstract]
Weighted average discount rate for operating leases	8.00%

Leases - Scheduled Future Maturities and Present Value of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
Remainder of 2019	$ 174
2020	705
2021	724
2022	743
2023	765
2024 and thereafter	619
Total maturities	3,730
Present value included in condensed consolidated balance sheet:
Current portion of operating lease liabilities	477
Noncurrent operating lease liabilities	2,588
Total operating lease liabilities	3,065
Difference between the maturities and the present value of operating lease liabilities	$ 665

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Commitments And Contingencies [Line Items]
Data cost incurred	$ 1,946	$ 1,447	$ 5,501	$ 4,080
Total capital commitment under certain data licensing agreements	16,689		16,689
Maximum
Commitments And Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 413		$ 413

Commitments and Contingencies - Future Minimum Capital Payments under Certain Data Licensing Agreements (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Remainder of 2019	$ 1,916
2020	7,506
2021	5,615
2022	1,652
Total	$ 16,689

Subsequent Events - Additional Information (Details) - Restricted Stock Units (RSUs) - Employees and Directors	1 Months Ended
	Oct. 28, 2019 shares
Subsequent Event [Line Items]
Number of common stock authorized	340,500
Vesting period	3 years
Two Thousand Nineteen Performance Criteria
Subsequent Event [Line Items]
Number of common stock authorized	307,500