Verra Mobility(VRRM)
Search documents
Verra Mobility (VRRM) Presents at the Baird 2022 Global Consumer, Technology & Services Conference - Slideshow
2022-06-11 19:10
Business Overview - Verra Mobility is a leading provider of smart mobility solutions addressing critical needs for cities, fleets, and universities [9] - The company operates in three business segments: Commercial Services, Government Solutions, and Parking Solutions [12] Financial Performance - Commercial Services generated $289 million in service revenue [12] - Government Solutions generated $257 million in service revenue [12] - Parking Solutions generated $18 million in service revenue [12] - The Compound Annual Growth Rate (CAGR) for service revenue from 2017 to 2021 was 21% [15] Competitive Advantages - Verra Mobility is a market leader with highly differentiated platforms [14] - The company has a contracted, reoccurring revenue business model [15] - Verra Mobility is a leading provider of road safety cameras in the U S [14] - The company is a leading provider of toll and violation management to rental car and fleet management companies in the U S [14] Future Growth - The company has a platform for future growth in connected fleet, shared economy, and smart mobility markets [15]
Verra Mobility(VRRM) - 2022 Q1 - Earnings Call Presentation
2022-05-12 06:19
VERRANT Safe. Smart. Connected. Earnings Overview Verra Mobility Q1 Earnings Presentation For the Quarter Ended March 31, 2022 FORWARD-LOOKING STATEMENTS This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," a ...
Verra Mobility(VRRM) - 2022 Q1 - Earnings Call Transcript
2022-05-10 00:32
Verra Mobility Corporation (NASDAQ:VRRM) Q1 2022 Earnings Conference Call May 9, 2022 5:00 PM ET Company Participants David Roberts – Chief Executive Officer Craig Conti – Chief Financial Officer Mark Zindler – Vice President, Investor Relations Conference Call Participants Daniel Moore – CJS Securities, Inc. Keith Housum – Northcoast Research Operator Please stand by. Good day and welcome to the Verra Mobility Corporation, First Quarter 2022 earnings call. Today's conference is being recorded. At this time ...
Verra Mobility(VRRM) - 2022 Q1 - Quarterly Report
2022-05-09 21:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________. Commission File Number: 001-37979 VERRA MOBILITY CORPORATION (Exact name of registrant as specified in its charter) Delaware 81-35 ...
Verra Mobility(VRRM) - 2021 Q4 - Annual Report
2022-04-22 10:05
[PART I](index=4&type=section&id=PART%20I) [Item 1. Business](index=4&type=section&id=Item%201.%20Business) Verra Mobility Corporation is a leading provider of smart mobility technology solutions and services across North America, Europe, and Australia, operating through three segments: Commercial Services, Government Solutions, and Parking Solutions, offering services like toll and violations management, automated safety, and parking enforcement, with key strategies including leveraging industry tailwinds, expanding product offerings into new markets, growing its global footprint, and pursuing strategic acquisitions - Verra Mobility is a leading provider of smart mobility technology solutions and services in the United States, Australia, Europe, and Canada[17](index=17&type=chunk) - The company operates through three primary segments: Commercial Services, Government Solutions, and Parking Solutions[18](index=18&type=chunk) 2021 Revenue by Segment | Segment | Revenue (Millions USD) | % of Total Revenue | | :------------------ | :--------------------- | :----------------- | | Commercial Services | $260.9 | 47.4% | | Government Solutions | $283.2 | 51.4% | | Parking Solutions | $6.5 | (Post-acquisition) | - Growth strategies include benefiting from industry tailwinds (e.g., increased toll roads, demand for automated safety, mobile parking solutions), expanding into new markets (ridesharing, carsharing, autonomous vehicles, smart cities), and pursuing accretive acquisitions[31](index=31&type=chunk)[36](index=36&type=chunk)[40](index=40&type=chunk)[43](index=43&type=chunk) [Item 1A. Risk Factors](index=13&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including adverse effects from the COVID-19 pandemic, high customer concentration, unique challenges with government contracts, acquisition integration failures, data privacy threats, dependence on key personnel, international operational complexities, intellectual property protection issues, substantial indebtedness, and regulatory compliance challenges - COVID-19 pandemic, including emerging variants, may adversely affect business and results of operations, potentially causing labor constraints, disruptions, or delays in strategic initiatives[81](index=81&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk) - Customer concentration in Commercial Services (RACs like Avis, Enterprise, Hertz) and Government Solutions (e.g., NYCDOT representing **26.6%** of 2021 revenue) poses a material adverse effect risk if key customers are lost or face business challenges[83](index=83&type=chunk)[98](index=98&type=chunk)[99](index=99&type=chunk) - Government contracts are subject to unique risks including termination rights, payment delays (e.g., **$63.2 million** receivable from NYCDOT, **39%** of total A/R), audits, and investigations[83](index=83&type=chunk)[104](index=104&type=chunk)[105](index=105&type=chunk) - Failure to successfully implement acquisition strategy or integrate acquired businesses (like Redflex and T2 Systems in 2021) could lead to significant disruption, increased costs, and failure to realize anticipated benefits[84](index=84&type=chunk)[119](index=119&type=chunk)[121](index=121&type=chunk) - Substantial indebtedness (**$895 million** under first lien term loan, **$350 million** in Senior Unsecured Notes as of Dec 31, 2021) increases vulnerability to adverse economic conditions and limits financial flexibility[88](index=88&type=chunk)[167](index=167&type=chunk) - Material weaknesses in internal controls over financial reporting were identified in 2021 related to Redflex acquisition accounting and third-party application controls, leading to a conclusion of ineffective internal control over financial reporting[207](index=207&type=chunk)[614](index=614&type=chunk)[617](index=617&type=chunk) [Item 1B. Unresolved Staff Comments](index=38&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) There are no unresolved staff comments from the SEC - No unresolved staff comments were reported[227](index=227&type=chunk) [Item 2. Properties](index=38&type=section&id=Item%202.%20Properties) Verra Mobility leases all properties used in its business, including its corporate headquarters in Mesa, Arizona, and various other office and small warehouse locations, none of which are considered material to the overall business - The company leases all properties for its business operations, including a **108,956 square foot** corporate headquarters in Mesa, Arizona[228](index=228&type=chunk) - No individual property is considered material to the overall business[228](index=228&type=chunk) [Item 3. Legal Proceedings](index=39&type=section&id=Item%203.%20Legal%20Proceedings) Verra Mobility is involved in various legal and regulatory actions arising in the ordinary course of business, including intellectual property, commercial arrangements, and consumer fraud claims, with a notable ongoing antitrust case, *PlusPass, Inc. v. Verra Mobility*, which the company believes is without merit - The company is subject to legal and regulatory actions in the ordinary course of business, including intellectual property, commercial, negligence, and consumer fraud claims[230](index=230&type=chunk) - A class action lawsuit, *Brantley v. City of Gretna*, alleges violations in a safety camera program, with the company unable to reasonably estimate a range of loss[585](index=585&type=chunk) - In *PlusPass, Inc. v. Verra Mobility*, the plaintiff alleges federal antitrust violations related to the 2018 merger of HTA and American Traffic Solutions, Inc., seeking injunctive relief, divestiture, and damages, which Verra Mobility denies[231](index=231&type=chunk) [Item 4. Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) There are no mine safety disclosures applicable to the company - No mine safety disclosures are applicable[232](index=232&type=chunk) [PART II](index=40&type=section&id=PART%20II) [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=40&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Verra Mobility's Class A Common Stock trades on Nasdaq under 'VRRM', while its warrants trade on OTC Pink under 'VRRMW' after being delisted from Nasdaq in 2018; the company has not paid cash dividends and its ability to do so is limited by debt covenants, with a significant share repurchase in August 2021 and an earn-out agreement for additional share issuance - Class A Common Stock is quoted on Nasdaq (VRRM); warrants are quoted on OTC Pink (VRRMW) after delisting from Nasdaq in 2018[234](index=234&type=chunk)[197](index=197&type=chunk) Class A Common Stock High and Low Sales Prices (2020-2021) | Quarter | Fiscal Year 2021 High | Fiscal Year 2021 Low | Fiscal Year 2020 High | Fiscal Year 2020 Low | | :-------------- | :-------------------- | :------------------- | :-------------------- | :------------------- | | First Quarter | $15.38 | $12.54 | $17.20 | $5.63 | | Second Quarter | $15.94 | $13.38 | $13.17 | $6.16 | | Third Quarter | $17.50 | $14.26 | $11.95 | $9.14 | | Fourth Quarter | $17.01 | $13.47 | $14.07 | $9.33 | - As of December 31, 2021, there were **156,078,561 shares** of Class A Common Stock outstanding and **19,999,967 warrants** outstanding[191](index=191&type=chunk)[237](index=237&type=chunk) - The company has not paid cash dividends and its ability to do so is limited by restrictive covenants in debt agreements[239](index=239&type=chunk) - In August 2021, the company repurchased and retired **6,849,315 shares** of Class A Common Stock from the Platinum Stockholder for **$100 million**[246](index=246&type=chunk)[578](index=578&type=chunk) - An earn-out agreement provides for the issuance of up to **10,000,000 additional shares** to the Platinum Stockholder if specific stock price thresholds are met within five years of the Business Combination, with two tranches (**5,000,000 shares**) already issued[248](index=248&type=chunk)[250](index=250&type=chunk)[253](index=253&type=chunk)[572](index=572&type=chunk)[573](index=573&type=chunk)[576](index=576&type=chunk) [Item 6. Selected Financial Data](index=42&type=section&id=Item%206.%20Selected%20Financial%20Data) This item is not applicable for this report - Item 6. Selected Financial Data is not applicable[254](index=254&type=chunk) [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=43&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section reviews Verra Mobility's financial condition and operations, detailing significant events like strategic acquisitions and COVID-19's impact, noting substantial 2021 revenue growth driven by travel recovery and acquisitions, resulting in a **$41.4 million** net income compared to a 2020 net loss, with liquidity primarily from operating cash flows and a revolving credit facility supporting significant long-term debt from acquisitions - Total revenue increased by **$157.0 million (40%)** from **$393.6 million** in FY2020 to **$550.6 million** in FY2021, with acquisitions contributing **$45.0 million**[261](index=261&type=chunk) - Net income was **$41.4 million** in FY2021, a significant increase from a net loss of **$4.6 million** in FY2020, primarily due to travel industry recovery and acquisitions[301](index=301&type=chunk) - Cash flows from operating activities increased by **$146.3 million**, from **$46.9 million** in 2020 to **$193.2 million** in 2021, driven by net income improvement and accounts receivable reduction[261](index=261&type=chunk)[326](index=326&type=chunk) - The company completed strategic acquisitions in 2021: Redflex Holdings Limited (June 2021, **$117.9 million**), T2 Systems Parent Corporation (December 2021, **$353.2 million**), and NuPark (December 2021, **$7.0 million**)[258](index=258&type=chunk)[259](index=259&type=chunk)[267](index=267&type=chunk)[268](index=268&type=chunk)[269](index=269&type=chunk)[264](index=264&type=chunk)[265](index=265&type=chunk)[500](index=500&type=chunk)[506](index=506&type=chunk)[509](index=509&type=chunk) - Long-term debt includes a **$895.1 million** 2021 Term Loan and **$350 million** Senior Unsecured Notes as of December 31, 2021, with an interest rate of **3.6%** on the Term Loan and **5.50%** on the Senior Notes[336](index=336&type=chunk)[337](index=337&type=chunk)[338](index=338&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=61&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Verra Mobility faces interest rate market risk from its **$895 million** variable rate 2021 Term Loan, where a 1% rate change impacts annual interest expense by approximately **$9.2 million**, and the company has not engaged in hedging activities - The company is exposed to interest rate market risk from its variable rate 2021 Term Loan[379](index=379&type=chunk) Interest Rate Sensitivity (as of Dec 31, 2021) | Debt Instrument | Outstanding Balance | Interest Rate | Impact of 1% Rate Change on Annual Interest Expense | | :---------------- | :------------------ | :------------ | :------------------------------------------------ | | 2021 Term Loan | $895 million | 3.6% | ~$9.2 million | - No hedging activities were engaged in during fiscal year 2021, nor are they expected in the future[380](index=380&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=62&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents Verra Mobility's audited consolidated financial statements for fiscal years 2021, 2020, and 2019, including balance sheets, statements of operations, stockholders' equity, and cash flows, with an unqualified opinion on financial statements but an adverse opinion on internal control over financial reporting due to material weaknesses, and detailed notes on accounting policies, acquisitions, debt, and equity - The independent registered public accounting firm issued an unqualified opinion on the consolidated financial statements for the period ended December 31, 2021[385](index=385&type=chunk) - An adverse opinion was issued on the effectiveness of internal control over financial reporting as of December 31, 2021, due to material weaknesses related to Redflex acquisition accounting and third-party application controls[386](index=386&type=chunk)[393](index=393&type=chunk)[395](index=395&type=chunk) Consolidated Financial Highlights (2021 vs 2020) | Metric | 2021 (in thousands) | 2020 (in thousands) | Change (2021 vs 2020) | | :------------------------------------ | :------------------ | :------------------ | :-------------------- | | Total Revenue | $550,590 | $393,593 | +39.9% | | Net Income (Loss) | $41,449 | $(4,578) | +$46,027 | | Cash and Cash Equivalents | $101,283 | $120,259 | -15.78% | | Total Assets | $1,837,056 | $1,367,325 | +34.35% | | Total Liabilities | $1,577,092 | $1,051,753 | +49.95% | | Total Stockholders' Equity | $259,964 | $315,572 | -17.62% | - Key accounting policies include revenue recognition (distinct stand-ready obligations, point-in-time for product sales, over-time for services), allowance for credit losses, business combinations (acquisition method, early adoption of ASU 2021-08), goodwill and long-lived asset impairment, income taxes, and private placement warrant liabilities[349](index=349&type=chunk)[356](index=356&type=chunk)[359](index=359&type=chunk)[362](index=362&type=chunk)[368](index=368&type=chunk)[376](index=376&type=chunk)[474](index=474&type=chunk)[486](index=486&type=chunk)[493](index=493&type=chunk) [Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=109&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) There were no changes in or disagreements with accountants on accounting and financial disclosure - No changes in or disagreements with accountants on accounting and financial disclosure were reported[608](index=608&type=chunk) [Item 9A. Controls and Procedures](index=109&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of December 31, 2021, due to material weaknesses in internal control over financial reporting, specifically insufficient accounting resources for Redflex acquisition accounting and ineffective controls for a third-party application (Vena Solutions), with remediation efforts expected by end of 2022 - Disclosure controls and procedures were deemed not effective as of December 31, 2021[610](index=610&type=chunk) - Material weaknesses identified include: (i) insufficient qualified accounting resources for Redflex acquisition revenue arrangements and valuation adjustments, and (ii) ineffective controls related to a third-party application (Vena Solutions) used in financial reporting[614](index=614&type=chunk)[615](index=615&type=chunk)[617](index=617&type=chunk) - Remediation steps involve hiring additional technical accounting resources and implementing processes to independently validate revenue and reporting data, with completion expected by end of 2022[618](index=618&type=chunk)[619](index=619&type=chunk) - Management's evaluation of internal control over financial reporting excluded the internal control activities of Redflex and T2 Systems, acquired in June and December 2021, respectively[621](index=621&type=chunk) [Item 9B. Other Information](index=111&type=section&id=Item%209B.%20Other%20Information) There is no other information to report under this item - No other information is reported under this item[628](index=628&type=chunk) [Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=111&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - This item is not applicable[629](index=629&type=chunk) [PART III](index=112&type=section&id=PART%20III) [Item 10. Directors, Executive Officers and Corporate Governance](index=112&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's Proxy Statement for the 2022 Annual Meeting of Stockholders - Information is incorporated by reference from the 2022 Annual Meeting of Stockholders Proxy Statement[631](index=631&type=chunk) [Item 11. Executive Compensation](index=112&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's Proxy Statement for the 2022 Annual Meeting of Stockholders - Information is incorporated by reference from the 2022 Annual Meeting of Stockholders Proxy Statement[632](index=632&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=112&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership of certain beneficial owners and management, and related stockholder matters, is incorporated by reference from the company's Proxy Statement for the 2022 Annual Meeting of Stockholders - Information is incorporated by reference from the 2022 Annual Meeting of Stockholders Proxy Statement[633](index=633&type=chunk) [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=112&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding certain relationships and related transactions, and director independence, is incorporated by reference from the company's Proxy Statement for the 2022 Annual Meeting of Stockholders - Information is incorporated by reference from the 2022 Annual Meeting of Stockholders Proxy Statement[634](index=634&type=chunk) [Item 14. Principal Accountant Fees and Services](index=112&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's Proxy Statement for the 2022 Annual Meeting of Stockholders - Information is incorporated by reference from the 2022 Annual Meeting of Stockholders Proxy Statement[635](index=635&type=chunk) [PART IV](index=113&type=section&id=PART%20IV) [Item 15. Exhibit and Financial Statement Schedules](index=113&type=section&id=Item%2015.%20Exhibit%20and%20Financial%20Statement%20Schedules) This section lists the financial statements filed as part of the Annual Report on Form 10-K, including consolidated financial statements and Appendix A, Schedule II – Consolidated Valuation and Qualifying Accounts, and provides a comprehensive exhibit index detailing various agreements, certificates, and other documents - Includes consolidated financial statements and Appendix A, Schedule II – Consolidated Valuation and Qualifying Accounts[637](index=637&type=chunk)[638](index=638&type=chunk) - A detailed exhibit index lists various agreements (e.g., Merger Agreement, Revolving Credit Agreement, Indenture), certificates, and other documents[639](index=639&type=chunk)[640](index=640&type=chunk)[641](index=641&type=chunk)[642](index=642&type=chunk)[643](index=643&type=chunk)[644](index=644&type=chunk) [Item 16. Form 10-K Summary](index=119&type=section&id=Item%2016.%20Form%2010-K%20Summary) There is no Form 10-K Summary provided in this report - No Form 10-K Summary is provided[647](index=647&type=chunk) [SIGNATURES](index=120&type=section&id=SIGNATURES) The report is signed on behalf of Verra Mobility Corporation by its President and Chief Executive Officer, David Roberts, as the Principal Executive Officer - The report is signed by David Roberts, President and Chief Executive Officer (Principal Executive Officer)[650](index=650&type=chunk) [POWER OF ATTORNEY](index=121&type=section&id=POWER%20OF%20ATTORNEY) A Power of Attorney grants David M. Roberts and Patricia D. Chiodo authority to sign and file Form 10-K amendments, with the report also signed by various directors and the Chief Financial Officer - David M. Roberts and Patricia D. Chiodo are granted power of attorney to sign and file amendments to the Form 10-K[652](index=652&type=chunk) - The report is signed by the President, CEO, CFO, and several directors[653](index=653&type=chunk) [Appendix A, Schedule II](index=122&type=section&id=Appendix%20A%2C%20Schedule%20II) Appendix A, Schedule II provides the Consolidated Valuation and Qualifying Accounts for Verra Mobility Corporation for the years ended December 31, 2021, 2020, and 2019, detailing activity in the Allowance for Credit Losses and Tax Valuation Allowance Consolidated Valuation and Qualifying Accounts (2019-2021) | Account | Year Ended December 31, 2021 | Year Ended December 31, 2020 | Year Ended December 31, 2019 | | :------------------------ | :--------------------------- | :--------------------------- | :--------------------------- | | **Allowance for Credit Losses** | | Beginning Balance | $11,471 | $8,456 | $6,221 | | Charged to Net Income (Loss) | $9,588 | $14,391 | $8,100 | | Utilized/Write-offs | $(8,921) | $(11,376) | $(6,684) | | Ending Balance | $12,138 | $11,471 | $7,637 | | **Tax Valuation Allowance** | | Beginning Balance | $3,422 | $2,564 | $2,254 | | Charged to Net Income (Loss) | $363 | $858 | $310 | | Ending Balance | $3,785 | $3,422 | $2,564 |
Verra Mobility(VRRM) - 2021 Q4 - Earnings Call Transcript
2022-04-22 00:37
Verra Mobility Corporation (NASDAQ:VRRM) Q4 2021 Earnings Conference Call April 21, 2022 5:00 PM ET Company Participants Mark Zindler - Vice President, Investor Relations David Roberts - Chief Executive Officer Tricia Chiodo - Chief Financial Officer Craig Conti - Executive Vice President & Incoming Chief Financial Officer Conference Call Participants Daniel Moore - CJS Securities Dave Koning - Baird James Faucette - Morgan Stanley Faiza Alwy - Deutsche Bank Trevor Bowers - Northcoast Research Louie DiPalma ...
Verra Mobility(VRRM) - 2021 Q4 - Earnings Call Presentation
2022-04-21 23:27
Financial Performance - Full Year 2020 - Verra Mobility's full-year 2020 revenue was $393.6 million, a 12.3% year-over-year decrease compared to $448.7 million in 2019[9] - Adjusted EBITDA for full-year 2020 was $181.8 million, compared to $241.4 million in 2019[9] - Cash from operations for full-year 2020 was $46.9 million, a significant decrease from $133.8 million in 2019[9] Financial Performance - Q4 2020 - Total revenue for Q4 2020 decreased by $12.3 million to $100.2 million, from $112.5 million in Q4 2019[17] - Adjusted EBITDA for Q4 2020 was $45.8 million, reduced from $59.6 million in the same quarter of 2019[17] - Cash flow from operations in Q4 2020 was $2.6 million, and $46.9 million year-to-date[17] Segment Performance - Commercial Services (Q4 2020) - Commercial Services revenue in Q4 2020 was $48.2 million, a 29.3% decrease from the same quarter in the prior year[10] - Adjusted EBITDA for Commercial Services in Q4 2020 was $25.2 million, a $16.9 million or 40.1% decrease from the same period of the prior year[10] - Operating expenses for Commercial Services in Q4 2020 decreased by $3.9 million or 22.5% from the same period in the prior year, reflecting cost-cutting measures[10] Segment Performance - Government Solutions (Q4 2020) - Government Solutions revenue in Q4 2020 was $52.0 million, a 17.3% increase from the same quarter in the prior year[12] - Adjusted EBITDA for Government Solutions in Q4 2020 improved by $3.2 million or 18.1% from the same period of the prior year, reaching $20.6 million[12] - Service revenue for Government Solutions improved by $6.1 million, and product revenue increased by $1.6 million during the quarter[12]
Verra Mobility (VRRM) Lender Presentation
2021-12-09 21:09
VERRA A MOBIL Safe. Smart. Connected ender Presentation November 2021 Forward-looking statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict o ...
Verra Mobility(VRRM) - 2021 Q1 - Earnings Call Presentation
2021-11-07 09:35
VERRA A MOBILITY Safe Safe Come Earnings Overview Verra Mobility Q1 Earnings Presentation For the Quarter Ended March 31, 2021 Forward-looking statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," a ...
Verra Mobility(VRRM) - 2021 Q3 - Earnings Call Transcript
2021-11-04 23:12
Verra Mobility Corporation (NASDAQ:VRRM) Q3 2021 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants David Roberts - Chief Executive Officer Tricia Chiodo - Chief Financial Officer Mike McMillin - Senior Vice President, Corporate Development Conference Call Participants Daniel Moore - CJS Securities Keith Housum - Northcoast Research Dave Koning - Baird Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the ...