forewarn is an app-based solution currently tailored for the real estate industry , providing instant knowledge prior to face-to-face engagement with a consumer , helping professionals identify and mitigate risk . as of december 31 , 2019 and 2018 , idicore had 5,064 and 3,627 billable customers and forewarn had 30,577 and 11,397 users , respectively . we generate substantially all of our revenue from licensing our solutions . customers access our solutions through a hosted environment using an online interface , batch processing , api and custom integrations . we recognize revenue from licensing fees ( a ) on a transactional basis determined by the customer 's usage , ( b ) via a monthly fee or ( c ) from a combination of both . revenue pursuant to pricing contracts containing a monthly fee is recognized ratably over the contract period . pricing contracts are generally annual contracts or longer , with auto renewal . revenue from pricing contracts represented 65 % and 58 % of total revenue for the years ended december 31 , 2019 and 2018 , respectively . our go-to-market strategy leverages ( a ) an inside sales team that cultivates relationships , and ultimately closes business , with their end-user markets , ( b ) a strategic sales team that provides a more personal , face-to-face approach for major accounts within certain industries , and ( c ) distributors , resellers , and strategic partners that have a significant foothold in many of the industries that we have not historically served , as well as to further penetrate those industries that we do serve . our sales model generally begins with a free trial followed by an initial purchase on a transactional basis or minimum-committed monthly spend . as organizations derive benefits from our solutions , we are able to “ land and expand ” within larger organizations as additional use cases expand across departments , divisions and geographic locations and customers become increasingly reliant on our solutions in their daily workflow . 21 on march 26 , 2018 , fluent , inc. ( “ fluent ” ) spun off its risk management business by way of a distribution of all of the shares of common stock of its then wholly-owned subsidiary , red violet , to its stockholders as of the record date and certain warrant holders ( the “ spin-off ” ) . upon the spin-off , red violet owned fluent subsidiaries that previously operated fluent 's risk management business , and red violet became an independent public company . 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 . in order for us to continue to develop new products , grow our existing business and expand into additional markets , we must generate and sustain sufficient operating profits and cash flow in future periods . this will require us to generate additional sales from current products and new products currently under development . we are building out our sales organization to drive current products and to introduce new products into the market place . we will incur increased compensation expenses relating to our sales and marketing , executive and administrative , product development and infrastructure-related personnel as we increase headcount in the next 12 months . industry trends and uncertainties operating results are affected by the following factors that impact the big data and analytics sector in the united states : the macroeconomic conditions , including the availability of affordable credit and capital , interest rates , inflation , employment levels and consumer confidence , influence our revenue . macroeconomic conditions also have a direct impact on overall technology , marketing and advertising expenditures in the u.s. as marketing budgets are often more discretionary in nature , they are easier to reduce in the short term as compared to other corporate expenses . future widespread economic slowdowns in any of the industries or markets our clients serve could reduce the technology and marketing expenditures of our clients and prospective customers . our revenue is also significantly influenced by industry trends , including the demand for business analytics services in the industries we serve . companies are increasingly relying on business analytics and big-data technologies to help process data in a cost-efficient manner . as customers have gained the ability to rapidly aggregate data generated by their own activities , they are increasingly expecting access to real-time data and analytics from their service providers as well as solutions that fully integrate into their workflows . the increasing number and complexity of regulations centered around data and provision of information services makes operations for businesses in the big data and analytic sector more challenging . the enactment of new or amended legislation or industry regulations pertaining to consumer or private sector privacy issues could have a material adverse impact on information and marketing services . legislation or industry regulations regarding consumer or private sector privacy issues could place restrictions upon the collection , sharing and use of information that is currently legally available , which could materially increase our cost of collecting and maintaining some data . these types of legislation or industry regulations could also prohibit us from collecting or disseminating certain types of data , which could adversely affect our ability to meet our clients ' requirements and our profitability and cash flow targets . company specific trends and uncertainties our operating results are also directly affected by company-specific factors , including the following : some of our competitors have substantially greater financial , technical , sales and marketing resources , better name recognition and a larger customer base . even if we introduce advanced products that meet evolving customer requirements in a timely manner , there can be no assurance that our new products will gain market acceptance . story_separator_special_tag adjusted ebitda was $ 1.9 million as compared to a negative $ 4.3 million . gross profit increased 159 % to $ 15.4 million . gross margin increased to 51 % from 36 % . adjusted gross profit increased 135 % to $ 18.0 million . adjusted gross margin increased to 60 % from 47 % . 26 use and reconciliation of non-gaap financial measures management evaluates the financial performance of our business on a variety of key indicators , including non-gaap metrics of adjusted ebitda , adjusted gross profit and adjusted gross margin . adjusted ebitda is a financial measure equal to net loss , the most directly comparable financial measure based on us gaap , excluding interest income , net , depreciation and amortization , share-based compensation expense , litigation costs , net , sales and use tax expense , insurance proceeds in relation to settled litigation , transition service income , and write-off of long-lived assets and others , as noted in the tables below . we define adjusted gross profit as revenue less cost of revenue ( exclusive of depreciation and amortization ) , and adjusted gross margin as adjusted gross profit as a percentage of revenue . replace_table_token_1_th the following is a reconciliation of gross profit , the most directly comparable gaap financial measure , to adjusted gross profit : replace_table_token_2_th in order to assist readers of our consolidated financial statements in understanding the operating results that management uses to evaluate the business and for financial planning purposes , we present non-gaap measures of adjusted ebitda , adjusted gross profit and adjusted gross margin as supplemental measures of our operating performance . we believe they provide useful information to our investors as they eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance . in addition , we use them as an integral part of our internal reporting to measure the performance and operating strength of our business . 27 we believe adjusted ebitda , adjusted gross profit and adjusted gross margin are relevant and provide useful information frequently used by securities analysts , investors and other interested parties in their evaluation of the operating performance of companies similar to ours and are indicators of the operational strength of our business . we believe adjusted ebitda eliminates the uneven effect of considerable amounts of non-cash depreciation and amortization , share-based compensation expense and the impact of other non-recurring items , providing useful comparisons versus prior periods or forecasts . our adjusted gross profit is a measure used by management in evaluating the business 's current operating performance by excluding the impact of prior historical costs of assets that are expensed systematically and allocated over the estimated useful lives of the assets , which may not be indicative of the current operating activity . our adjusted gross profit is calculated by using revenue , less cost of revenue ( exclusive of depreciation and amortization ) . we believe adjusted gross profit provides useful information to our investors by eliminating the impact of non-cash depreciation and amortization , and specifically the amortization of software developed for internal use , providing a baseline of our core operating results that allow for analyzing trends in our underlying business consistently over multiple periods . adjusted gross margin is calculated as adjusted gross profit as a percentage of revenue . adjusted ebitda , adjusted gross profit and adjusted gross margin are not intended to be performance measures that should be regarded as an alternative to , or more meaningful than , financial measures presented in accordance with gaap . the way we measure adjusted ebitda , adjusted gross profit and adjusted gross margin may not be comparable to similarly titled measures presented by other companies , and may not be identical to corresponding measures used in our various agreements . results of operations year ended december 31 , 2019 compared to year ended december 31 , 2018 revenue . revenue increased $ 14.0 million or 86 % to $ 30.3 million for the year ended december 31 , 2019 from $ 16.3 million for the year ended december 31 , 2018. this increase was driven by strong growth in volume from onboarding of new customers and usage from existing customers . revenue from new customers increased $ 1.8 million or 52 % , base revenue from existing customers increased $ 9.9 million or 94 % , and growth revenue from existing customers increased $ 2.3 million or 100 % for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 , respectively . our idicore billable customer base grew from 3,627 customers as of december 31 , 2018 to 5,064 customers as of december 31 , 2019. revenue from new customers represents the total monthly revenue generated from new customers in a given period . a customer is defined as a new customer during the first six months of revenue generation . base revenue from existing customers represents the total monthly revenue generated from existing customers in a given period that does not exceed the customers ' trailing six-month average revenue . a customer is defined as an existing customer six months after their initial month of revenue . growth revenue from existing customers represents the total monthly revenue generated from existing customers in a given period in excess of the customers ' trailing six-month average revenue . cost of revenue ( exclusive of depreciation and amortization ) . cost of revenue increased $ 3.7 million or 42 % to $ 12.3 million for the year ended december 31 , 2019 from $ 8.6 million for the year ended december 31 , 2018. our cost of revenue primarily includes data acquisition costs . data acquisition costs consist primarily of the costs to acquire data either on a transactional basis or through flat-fee data licensing agreements , including unlimited usage agreements . we continue to enhance

liquidity and capital resources cash flows provided by ( used in ) operating activities . for the year ended december 31 , 2019 , net cash provided by operating activities was $ 1.6 million , primarily the result of the net loss of $ 11.1 million , adjusted for certain non-cash items ( consisting of share-based compensation expense , depreciation and amortization , write-off of long-lived assets , provision for bad debts and noncash lease expenses ) totaling $ 13.8 million , and the cash used as a result of changes in assets and liabilities of $ 1.1 million , primarily the result of the increase in accounts receivable , following the increase in revenue . for the year ended december 31 , 2018 , net cash used in operating activities was $ 8.1 million , primarily the result of the net loss of $ 6.9 million , adjusted for certain non-cash items ( consisting of share-based compensation expense , depreciation and amortization , write-off of long-lived assets , provision for bad debts and allocation of expenses from fluent , inc. ) totaling $ 3.4 million , and the cash used as a result of changes in assets and liabilities of $ 4.6 million , primarily the result of the increase in accounts receivable and the decrease in accrued expenses and other current liabilities . cash flows used in investing activities . net cash used in investing activities for the years ended december 31 , 2019 and 2018 was $ 6.0 million , primarily as a result of capitalized costs included in intangible assets of $ 5.9 million in each of the corresponding periods . 29 cash flows provided by financing activities .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources cash flows provided by ( used in ) operating activities . for the year ended december 31 , 2019 , net cash provided by operating activities was $ 1.6 million , primarily the result of the net loss of $ 11.1 million , adjusted for certain non-cash items ( consisting of share-based compensation expense , depreciation and amortization , write-off of long-lived assets , provision for bad debts and noncash lease expenses ) totaling $ 13.8 million , and the cash used as a result of changes in assets and liabilities of $ 1.1 million , primarily the result of the increase in accounts receivable , following the increase in revenue . for the year ended december 31 , 2018 , net cash used in operating activities was $ 8.1 million , primarily the result of the net loss of $ 6.9 million , adjusted for certain non-cash items ( consisting of share-based compensation expense , depreciation and amortization , write-off of long-lived assets , provision for bad debts and allocation of expenses from fluent , inc. ) totaling $ 3.4 million , and the cash used as a result of changes in assets and liabilities of $ 4.6 million , primarily the result of the increase in accounts receivable and the decrease in accrued expenses and other current liabilities . cash flows used in investing activities . net cash used in investing activities for the years ended december 31 , 2019 and 2018 was $ 6.0 million , primarily as a result of capitalized costs included in intangible assets of $ 5.9 million in each of the corresponding periods . 29 cash flows provided by financing activities .
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 Suspicious Activity Report : forewarn is an app-based solution currently tailored for the real estate industry , providing instant knowledge prior to face-to-face engagement with a consumer , helping professionals identify and mitigate risk . as of december 31 , 2019 and 2018 , idicore had 5,064 and 3,627 billable customers and forewarn had 30,577 and 11,397 users , respectively . we generate substantially all of our revenue from licensing our solutions . customers access our solutions through a hosted environment using an online interface , batch processing , api and custom integrations . we recognize revenue from licensing fees ( a ) on a transactional basis determined by the customer 's usage , ( b ) via a monthly fee or ( c ) from a combination of both . revenue pursuant to pricing contracts containing a monthly fee is recognized ratably over the contract period . pricing contracts are generally annual contracts or longer , with auto renewal . revenue from pricing contracts represented 65 % and 58 % of total revenue for the years ended december 31 , 2019 and 2018 , respectively . our go-to-market strategy leverages ( a ) an inside sales team that cultivates relationships , and ultimately closes business , with their end-user markets , ( b ) a strategic sales team that provides a more personal , face-to-face approach for major accounts within certain industries , and ( c ) distributors , resellers , and strategic partners that have a significant foothold in many of the industries that we have not historically served , as well as to further penetrate those industries that we do serve . our sales model generally begins with a free trial followed by an initial purchase on a transactional basis or minimum-committed monthly spend . as organizations derive benefits from our solutions , we are able to “ land and expand ” within larger organizations as additional use cases expand across departments , divisions and geographic locations and customers become increasingly reliant on our solutions in their daily workflow . 21 on march 26 , 2018 , fluent , inc. ( “ fluent ” ) spun off its risk management business by way of a distribution of all of the shares of common stock of its then wholly-owned subsidiary , red violet , to its stockholders as of the record date and certain warrant holders ( the “ spin-off ” ) . upon the spin-off , red violet owned fluent subsidiaries that previously operated fluent 's risk management business , and red violet became an independent public company . 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 . in order for us to continue to develop new products , grow our existing business and expand into additional markets , we must generate and sustain sufficient operating profits and cash flow in future periods . this will require us to generate additional sales from current products and new products currently under development . we are building out our sales organization to drive current products and to introduce new products into the market place . we will incur increased compensation expenses relating to our sales and marketing , executive and administrative , product development and infrastructure-related personnel as we increase headcount in the next 12 months . industry trends and uncertainties operating results are affected by the following factors that impact the big data and analytics sector in the united states : the macroeconomic conditions , including the availability of affordable credit and capital , interest rates , inflation , employment levels and consumer confidence , influence our revenue . macroeconomic conditions also have a direct impact on overall technology , marketing and advertising expenditures in the u.s. as marketing budgets are often more discretionary in nature , they are easier to reduce in the short term as compared to other corporate expenses . future widespread economic slowdowns in any of the industries or markets our clients serve could reduce the technology and marketing expenditures of our clients and prospective customers . our revenue is also significantly influenced by industry trends , including the demand for business analytics services in the industries we serve . companies are increasingly relying on business analytics and big-data technologies to help process data in a cost-efficient manner . as customers have gained the ability to rapidly aggregate data generated by their own activities , they are increasingly expecting access to real-time data and analytics from their service providers as well as solutions that fully integrate into their workflows . the increasing number and complexity of regulations centered around data and provision of information services makes operations for businesses in the big data and analytic sector more challenging . the enactment of new or amended legislation or industry regulations pertaining to consumer or private sector privacy issues could have a material adverse impact on information and marketing services . legislation or industry regulations regarding consumer or private sector privacy issues could place restrictions upon the collection , sharing and use of information that is currently legally available , which could materially increase our cost of collecting and maintaining some data . these types of legislation or industry regulations could also prohibit us from collecting or disseminating certain types of data , which could adversely affect our ability to meet our clients ' requirements and our profitability and cash flow targets . company specific trends and uncertainties our operating results are also directly affected by company-specific factors , including the following : some of our competitors have substantially greater financial , technical , sales and marketing resources , better name recognition and a larger customer base . even if we introduce advanced products that meet evolving customer requirements in a timely manner , there can be no assurance that our new products will gain market acceptance . story_separator_special_tag adjusted ebitda was $ 1.9 million as compared to a negative $ 4.3 million . gross profit increased 159 % to $ 15.4 million . gross margin increased to 51 % from 36 % . adjusted gross profit increased 135 % to $ 18.0 million . adjusted gross margin increased to 60 % from 47 % . 26 use and reconciliation of non-gaap financial measures management evaluates the financial performance of our business on a variety of key indicators , including non-gaap metrics of adjusted ebitda , adjusted gross profit and adjusted gross margin . adjusted ebitda is a financial measure equal to net loss , the most directly comparable financial measure based on us gaap , excluding interest income , net , depreciation and amortization , share-based compensation expense , litigation costs , net , sales and use tax expense , insurance proceeds in relation to settled litigation , transition service income , and write-off of long-lived assets and others , as noted in the tables below . we define adjusted gross profit as revenue less cost of revenue ( exclusive of depreciation and amortization ) , and adjusted gross margin as adjusted gross profit as a percentage of revenue . replace_table_token_1_th the following is a reconciliation of gross profit , the most directly comparable gaap financial measure , to adjusted gross profit : replace_table_token_2_th in order to assist readers of our consolidated financial statements in understanding the operating results that management uses to evaluate the business and for financial planning purposes , we present non-gaap measures of adjusted ebitda , adjusted gross profit and adjusted gross margin as supplemental measures of our operating performance . we believe they provide useful information to our investors as they eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance . in addition , we use them as an integral part of our internal reporting to measure the performance and operating strength of our business . 27 we believe adjusted ebitda , adjusted gross profit and adjusted gross margin are relevant and provide useful information frequently used by securities analysts , investors and other interested parties in their evaluation of the operating performance of companies similar to ours and are indicators of the operational strength of our business . we believe adjusted ebitda eliminates the uneven effect of considerable amounts of non-cash depreciation and amortization , share-based compensation expense and the impact of other non-recurring items , providing useful comparisons versus prior periods or forecasts . our adjusted gross profit is a measure used by management in evaluating the business 's current operating performance by excluding the impact of prior historical costs of assets that are expensed systematically and allocated over the estimated useful lives of the assets , which may not be indicative of the current operating activity . our adjusted gross profit is calculated by using revenue , less cost of revenue ( exclusive of depreciation and amortization ) . we believe adjusted gross profit provides useful information to our investors by eliminating the impact of non-cash depreciation and amortization , and specifically the amortization of software developed for internal use , providing a baseline of our core operating results that allow for analyzing trends in our underlying business consistently over multiple periods . adjusted gross margin is calculated as adjusted gross profit as a percentage of revenue . adjusted ebitda , adjusted gross profit and adjusted gross margin are not intended to be performance measures that should be regarded as an alternative to , or more meaningful than , financial measures presented in accordance with gaap . the way we measure adjusted ebitda , adjusted gross profit and adjusted gross margin may not be comparable to similarly titled measures presented by other companies , and may not be identical to corresponding measures used in our various agreements . results of operations year ended december 31 , 2019 compared to year ended december 31 , 2018 revenue . revenue increased $ 14.0 million or 86 % to $ 30.3 million for the year ended december 31 , 2019 from $ 16.3 million for the year ended december 31 , 2018. this increase was driven by strong growth in volume from onboarding of new customers and usage from existing customers . revenue from new customers increased $ 1.8 million or 52 % , base revenue from existing customers increased $ 9.9 million or 94 % , and growth revenue from existing customers increased $ 2.3 million or 100 % for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 , respectively . our idicore billable customer base grew from 3,627 customers as of december 31 , 2018 to 5,064 customers as of december 31 , 2019. revenue from new customers represents the total monthly revenue generated from new customers in a given period . a customer is defined as a new customer during the first six months of revenue generation . base revenue from existing customers represents the total monthly revenue generated from existing customers in a given period that does not exceed the customers ' trailing six-month average revenue . a customer is defined as an existing customer six months after their initial month of revenue . growth revenue from existing customers represents the total monthly revenue generated from existing customers in a given period in excess of the customers ' trailing six-month average revenue . cost of revenue ( exclusive of depreciation and amortization ) . cost of revenue increased $ 3.7 million or 42 % to $ 12.3 million for the year ended december 31 , 2019 from $ 8.6 million for the year ended december 31 , 2018. our cost of revenue primarily includes data acquisition costs . data acquisition costs consist primarily of the costs to acquire data either on a transactional basis or through flat-fee data licensing agreements , including unlimited usage agreements . we continue to enhance

