Q2 2020 Financial Performance - Total revenue decreased by $29.8 million, reaching $79.8 million in Q2 2020, compared to $109.6 million in Q2 2019[24] - Adjusted EBITDA was $27.6 million, a reduction from $59.7 million in the same quarter of 2019[24] - The company generated $7.7 million in cash flow from operations during Q2 2020 and held $113.2 million in cash at the end of the quarter[24] Segment Performance - Commercial Services revenue was $27.3 million in Q2, a 59.9% decrease year-over-year[11] - Commercial Services adjusted EBITDA was $7.3 million, down $36.9 million or 83.5% year-over-year[11] - Government Solutions revenue was $52.5 million in Q2, a 26.6% increase year-over-year[17] - Government Solutions adjusted EBITDA was $20.3 million, up $4.8 million or 30.6% year-over-year[17] Factors Affecting Performance - The Commercial Services segment was significantly impacted by reduced demand in the rental car industry due to COVID-19[11] - Avis Budget Group reported a 78% year-over-year revenue decline in April and a 59% decline in June, while Verra Mobility's Commercial Services segment outperformed these trends with a 64% decline in April and a 50% decline in June[11] - Credit loss expense increased by $4.3 million in Commercial Services, primarily due to the Hertz bankruptcy[11] - Product revenue in Government Solutions grew by $10.5 million due to camera sales to a large municipality, while service revenue improved by $0.6 million[17]

Q3 2020 Consolidated Results - Total revenue decreased by $313 million, a 24% decrease, to $969 million in Q3 2020 from $1282 million in Q3 2019[23] - Adjusted EBITDA decreased from $708 million to $535 million in the same quarter of 2019[23] - Cash flow from operations was $218 million in Q3 2020 and $443 million year-to-date[23] - Cash on hand improved to $1292 million at the end of Q3, up from $1132 million at the end of Q2[23] Commercial Services Segment - Revenue of $442 million in Q3 decreased 431% from the same quarter in the prior year[11] - Adjusted EBITDA of $310 million in the quarter decreased $200 million, or 393%, from the same period of the prior year[11] - Operating expenses of $118 million in Q3 2020 decreased by $60 million, or 336%, from the same period in the prior year[11] Government Solutions Segment - Revenue of $528 million in Q3 increased 42% from the same quarter in the prior year[17] - Adjusted EBITDA of $225 million in the quarter improved $27 million, or 138%, from the same period of the prior year[17]

Core Insights - Verra Mobility Corporation has appointed Stacey Moser as Executive Vice President and General Manager of its Commercial Services business unit, effective July 21, 2025 [1][3] - Moser brings over 25 years of experience in commercial, product management, and engineering leadership from Fortune 100 companies and innovative technology firms [2][4] - She will succeed Steve Lalla, who has led the Commercial Services business since February 2021 [3] Company Overview - Verra Mobility is a leading provider of smart mobility technology solutions, focusing on making transportation safer, smarter, and more connected [7] - The company operates in North America, Europe, and Australia, addressing complex payment and compliance challenges for rental car companies and fleet operators [6][7] - Its offerings include tolling and violations management solutions, as well as title and registration services [6] Leadership Insights - David Roberts, CEO of Verra Mobility, expressed confidence in Moser's ability to drive continuous improvement and operational excellence, which will benefit fleet customers in the U.S. and Europe [3][4] - Moser's previous role as Chief Commercial Officer at Universal Robots involved leading global commercial strategy and market expansion [5]

Core Points - Verra Mobility Corporation has received approval from Oakland's City Council to implement a speed safety program utilizing advanced automated technology to address speeding issues in the city [1][2] - The program will deploy speed safety systems at 18 high-risk locations, utilizing a total of 36 cameras to reduce speeding and prevent traffic-related injuries and fatalities [2][4] - The initiative is part of a broader effort to enhance traffic safety in Oakland, where an average of over 33 traffic fatalities occur each year [4][5] Group 1: Program Details - The speed camera systems will monitor traffic at locations identified by the Oakland Department of Transportation, focusing on areas with documented speeding near schools, senior centers, and commercial districts [4][6] - The cameras will operate 24/7, issuing citations starting at $50 for vehicles traveling 11–15 mph over the speed limit, with fines up to $500 for the most egregious speeders [6][8] - The program is funded in part by a $2 million grant from the Alameda County Transportation Commission [3][9] Group 2: Community Impact - The initiative aims to protect vulnerable community members and reduce traffic fatalities, particularly in densely populated areas like Fruitvale [6][5] - Verra Mobility emphasizes the effectiveness of automated speed enforcement, citing similar programs across the country that have seen up to a 94% reduction in speeding [5][6] - A public education campaign is planned to inform the community about the program, with a mandatory 60-day warning period before citations are issued [8]

Verra Mobility (VRRM) FY Conference Summary Company Overview - **Company**: Verra Mobility - **Industry**: Smart Mobility Technologies - **Revenue**: Approximately $900 million, with 95% being service revenue, indicating a strong recurring revenue model [6][7][29] - **Adjusted EBITDA Margin**: 45%, with a free cash flow conversion rate of 43% [8][29] Key Business Segments 1. **Commercial Services**: - Leading provider of toll management solutions for commercial fleets in North America, primarily serving rental car companies [11][12] - Integration with 54 toll authorities allows seamless toll payment for rental vehicles [13] - Expansion into European markets with ongoing pilots [15] 2. **Automated Enforcement**: - Number one provider of automated enforcement solutions in North America, including red light and speed cameras [17] - Recently renewed a contract with New York City, the largest automated enforcement program globally [18][19] - Legislative efforts have expanded the total addressable market (TAM) from 21 to nearly 40 states in three years [20][63] 3. **Parking Solutions**: - Provides software platforms for universities and municipalities to manage parking permits and enforcement [21] Financial Performance - **Revenue Growth**: Total revenue CAGR of 16% since 2021, with service revenue CAGR at 18% [29] - **Profitability**: Adjusted EBITDA CAGR of 13%, maintaining high margins [30] - **Free Cash Flow**: Expected conversion of 40-45% of adjusted EBITDA into free cash flow [31] Capital Allocation Strategy - **Debt Management**: Approximately $1 billion in debt, with a target leverage ratio reduced to 3 times [33][35] - **Share Repurchases**: Over $500 million in shares bought back, with a new $100 million authorization [40][41] - **Investment Focus**: Prioritizing core business investments and strategic M&A opportunities [38][39] Market Outlook - **Growth Projections**: Anticipated 6% growth in top-line revenue, with adjusted EBITDA expected to rise by 3% [43][44] - **Travel Demand Impact**: While travel impacts the business, it constitutes less than 50% of total revenue, allowing for resilience in growth [46][47] Industry Dynamics - **Legislative Support**: Active engagement with local and state legislators to promote automated enforcement legislation [68] - **Technological Acceptance**: Increasing acceptance of technology in law enforcement, enhancing the company's market position [72] Additional Insights - **Customer Relationships**: High renewal rates of over 95%, indicating strong customer loyalty and long-term contracts [22] - **Employee Engagement**: High engagement scores in the upper seventies, reflecting a strong company culture [26] This summary encapsulates the key points from the Verra Mobility FY Conference, highlighting the company's robust financial performance, strategic growth initiatives, and the favorable market dynamics supporting its business model.

Summary of Verra Mobility (VRRM) 2025 Conference Call Company Overview - **Company**: Verra Mobility (VRRM) - **Industry**: Smart mobility solutions, including tolling, automated enforcement, and parking management - **Segments**: - Government Solutions - Commercial Services - Parking - **Global Presence**: Operates in 17 countries with 1,900 employees [4][5] Core Business Insights - **Government Solutions**: - Leading provider of automated enforcement in North America, including red light and speed cameras [7] - Significant contract renewal with New York, which accounts for 15% to 17% of revenue [32][34] - Current camera count in New York is approximately 3,000, with plans to add 450 more red light cameras [39][38] - **Commercial Services**: - Number one provider of toll management solutions for commercial fleets in the U.S. [5] - High single-digit growth expected, driven by increased toll road construction and cashless tolling [18][20] - Growth strategy includes expanding product offerings and increasing adoption rates among rental car companies [19][21] - **Parking Business**: - Provides software and hardware solutions for municipalities and universities [8] - Recent management changes aimed at stabilizing and improving sales execution [72] Financial Performance - **Revenue Growth**: - Strong revenue growth over the past several years, with a significant portion being recurring revenue (approximately 90%) [8] - Non-New York service revenue expected to grow double digits in 2025 [43] - **Margins**: - Government Solutions margins have slightly decreased but are expected to stabilize in the high 20s to 30% range [69] - Overall business expected to accrete margins of 50 basis points annually [69] Market Dynamics - **Travel Correlation**: - Business growth is correlated with travel data; however, the company has built in some insulation against potential travel declines [24][88] - Current travel growth is slightly better than last year, but expectations are tempered due to potential market fluctuations [25][26] - **Competitive Landscape**: - Verra Mobility holds a 70% market share in the U.S. for government solutions [63] - The company has a strong backlog, representing about 13% of revenue, which could lead to significant growth in future quarters [52] Risks and Challenges - **Travel Dependency**: - The biggest risk is a significant decline in travel, which could impact revenue from rental car partnerships [88][89] - Historical context provided with a 99% drop in business during COVID-19 [88] Strategic Initiatives - **Technology Integration**: - Exploring partnerships with OEMs to embed tolling technology directly into vehicles [15] - Continuous investment in new technology to meet evolving client needs, particularly in New York [35] - **Capital Allocation**: - Focus on growth through acquisitions and share buybacks, with a strong cash flow generation strategy [81][84] - Over $500 million in share buybacks executed in recent years [86] Conclusion Verra Mobility is positioned as a leader in the smart mobility sector with strong growth prospects driven by government contracts, commercial services, and a focus on technology integration. The company faces risks primarily related to travel fluctuations but has strategies in place to mitigate these risks and capitalize on market opportunities.

Report highlights Company's successes and approach to corporate responsibility, which is built on four pillars: community, planet, people and governanceMESA, Ariz., May 28, 2025 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced it has published its 2024 Corporate Responsibility Report.A copy of the Company's Corporate Responsibility Report can be downloaded by visiting www.verramobility.com/corporate-responsibility."We take great ...

Company Overview - Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that enhance transportation safety, efficiency, and connectivity [3] - The company integrates vehicles, hardware, software, data, and people to deliver effective solutions for customers globally, focusing on transportation safety systems and parking management [3] - Verra Mobility operates in North America, Europe, Asia, and Australia, aiming to address complex payment, utilization, and compliance challenges for fleet owners and rental car companies [3] Upcoming Events - The company will participate in the Baird 2025 Global Consumer, Technology & Services Conference on June 3, 2025, at 9:05 am ET, with presentations by David Roberts (President and CEO), Craig Conti (CFO), and Jon Baldwin (EVP Government Solutions) [1] - Additionally, they will present at the William Blair 45th Annual Growth Stock Conference on June 4, 2025, at 3:20 pm CT (4:20 pm ET) [2] - Live webcasts and replays of the presentations will be available on Verra Mobility's investor relations website [2]

Core Insights - Verra Mobility Corporation has been recognized as a Great Place to Work for the fourth consecutive year, based on employee feedback [1][2][5] Employee Experience - In 2025, 81% of Verra Mobility employees rated the company as a great place to work, significantly higher than the 57% average for typical U.S. companies [2] - Employees reported high levels of responsibility (90%) and a welcoming environment upon joining (87%) [3] Workplace Culture - Great Place to Work Certification indicates a strong workplace culture, with job seekers being 4.5 times more likely to find a great boss at certified companies [4] - Employees at certified workplaces are 93% more likely to look forward to work and twice as likely to feel they are paid fairly and have equal promotion opportunities [4] Company Overview - Verra Mobility is a leading provider of smart mobility technology solutions, focusing on safer and more connected transportation [6] - The company operates globally, addressing challenges in transportation safety, parking management, and compliance for fleet owners and rental car companies [6]

Company Performance - Verra Mobility Corp (VRRM) reported quarterly earnings of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, and up from $0.27 per share a year ago, representing an earnings surprise of 3.45% [1] - The company posted revenues of $223.25 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.07%, compared to year-ago revenues of $209.73 million [2] - Over the last four quarters, Verra Mobility has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Outlook - Verra Mobility shares have declined approximately 8% since the beginning of the year, while the S&P 500 has decreased by 4.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $233.49 million, and for the current fiscal year, it is $1.30 on revenues of $931 million [7] - The estimate revisions trend for Verra Mobility is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Internet - Software industry, to which Verra Mobility belongs, is currently in the top 37% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]