MESA, Ariz., Aug. 29, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the appointment of Lin Bo as senior vice president of T2 Systems, a Verra Mobility company that specializes in parking management technology and services. She will report to David Roberts, president and CEO, Verra Mobility. Ms. Bo will succeed Adam Blake, who led T2 Systems for nearly 10 years and is stepping down after completing his commitment to ...

Verra Mobility's tolling, violation and title and registration customers can leverage Xtract's platform and connected vehicle data to detect and analyze collision events in near-real time MESA, Ariz., Aug. 20, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today a partnership with Xtract, a global leader in digital First Notice of Loss (FNOL) and near-real-time vehicle collision reconstruction insights for automated incide ...

VERRA MOBILITY CORP (VRRM) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.90%. A quarter ago, it was expected that this company would post earnings of $0.26 per share when it actually produced earnings of $0.27, delivering a surprise of 3.85%. Over the last four quarters, the comp ...

Total revenue of $222.4 million Net income of $34.2 million Net cash provided from operations of $40.0 million Reaffirming 2024 financial guidance MESA, Ariz., Aug. 8, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the second quarter ended June 30, 2024. "We delivered an outstanding second quarter, highlighted by strong revenue and earnings growth," said David Roberts, President and CEO, Ver ...

Investing in stocks near their 52-week highs doesn't fit the classic "buy low, sell high" mantra. However, William O'Neil, the author of How to Make Money in Stocks, argues that this is precisely where investors should begin their search for a new top-tier business to buy. Providing an end-to-end suite of solutions ranging from automated toll road transponders and payments to road safety cameras for school buses, bus lanes, and work zones, Verra is early in its growth story but already creating abundant cas ...

In addition, an archived webcast will be available in the "News & Events" section of Verra Mobility's Investor Relations website at ir.verramobility.com. Additional Information To access the conference call, dial 1-800-717-1738 (U.S. toll-free) or 1-646-307-1865 (International) or click on the following link and request a return call: callme.viavid.com. A live webcast will be available on the Company's Investor Relations website at ir.verramobility.com. Forward Looking Statements MESA, Ariz., July 16, 2024 ...

Verra Mobility Corp (NASDAQ:VRRM) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Company Participants Mark Zindler – Vice President-Investor Relations David Roberts – Chief Executive Officer Craig Conti – Chief Financial Officer Conference Call Participants Faiza Alwy – Deutsche Bank Daniel Moore – CJS Securities Keith Housum – Northcoast Research Louie DiPalma – William Blair Dave Koning – Baird Operator Good afternoon, ladies and gentlemen, and welcome to the Verra Mobility First Quarter 2024 Ear ...

Earnings Overview Verra Mobility Q1 2024 Earnings Presentation For the Quarter Ended March 31, 2024 FORWARD-LOOKING STATEMENTS 2 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 si ...

Revenue Growth - Total revenue increased by $17.8 million, or 9%, from $191.9 million in Q1 2023 to $209.7 million in Q1 2024, driven by service revenue growth in the Commercial Services and Government Solutions segments [104]. - Service revenue rose by $18.0 million, or 9.8%, to $202.7 million in Q1 2024, representing 96.7% of total revenue, with Commercial Services contributing $95.9 million, an increase of 12.0% [118]. - Government Solutions service revenue increased by $7.1 million to $90.3 million in Q1 2024, primarily due to the expansion of speed and red light programs [119]. Cash Flow and Liquidity - Cash flows from operating activities were $34.3 million in Q1 2024, compared to $45.2 million in Q1 2023, with cash on hand at $149.5 million as of March 31, 2024 [104]. - Cash provided by operating activities decreased by approximately $10.9 million from $45.2 million in Q1 2023 to $34.3 million in Q1 2024 [142]. - Cash used in investing activities was $13.9 million in Q1 2024, down from $19.6 million in Q1 2023, indicating a decrease in capital expenditures [143]. - Cash used in financing activities decreased significantly from $66.6 million in Q1 2023 to $6.3 million in Q1 2024, primarily due to lower early repayments on the 2021 Term Loan [144]. - As of March 31, 2024, the company had $149.5 million in cash on hand and $74.6 million available for borrowing under its Revolver [136]. Share Repurchase and Capital Return - The company repurchased 449,432 shares for $8.1 million and paid approximately $91.9 million for an initial delivery of 4,131,551 shares under an ASR agreement [102]. - The company authorized a new share repurchase program for up to $100.0 million over an 18-month period, indicating confidence in financial health and future prospects [103]. - The company authorized a new share repurchase program for up to $100.0 million of its Class A Common Stock over an 18-month period, reflecting a commitment to return capital to shareholders [140]. Operating Expenses - Operating expenses increased by $8.8 million, or 14.2%, to $70.6 million in Q1 2024, reflecting higher payroll and operational costs [116]. - Operating expenses increased by $8.8 million, or 14.2%, from $61.8 million in Q1 2023 to $70.6 million in Q1 2024, with operating expenses as a percentage of total revenue rising from 32.2% to 33.7% [124]. - Selling, general and administrative expenses rose to $48.2 million in Q1 2024 from $40.0 million in Q1 2023, representing an increase of 20.4% [125]. Net Income and Performance - Net income surged to $29.1 million in Q1 2024, a 536.9% increase from $4.6 million in Q1 2023, driven by improved operational performance [116]. - Net income for Q1 2024 was $29.1 million, a significant increase of $24.5 million compared to $4.6 million in Q1 2023 [132]. Interest Expense and Debt Management - Interest expense decreased by 13.5% to $19.6 million in Q1 2024, reflecting effective debt management strategies [116]. - Interest expense, net decreased by $3.1 million from $22.7 million in Q1 2023 to $19.6 million in Q1 2024, primarily due to voluntary principal prepayments and a reduction in interest rates [126]. - The interest expense for the three months ended March 31, 2024, was $19.6 million, down from $22.7 million in the same period of 2023 [156]. - Each 1% movement in interest rates will result in an approximately $7.0 million change in annual interest expense based on the outstanding balance of the 2021 Term Loan [162]. - The 2021 Term Loan interest rate was reduced to SOFR + 2.75%, resulting in total savings of 61.5 basis points [146]. - The company recorded a $0.6 million loss on extinguishment of debt related to the Refinancing Transaction for the three months ended March 31, 2024 [148]. - The 2021 Term Loan now requires mandatory prepayments based on excess cash flows, with a prepayment percentage of 50% if the leverage ratio exceeds 3.70:1.00 [150]. - The company has a Revolving Credit Agreement with a commitment of up to $75.0 million, with no outstanding borrowings as of March 31, 2024 [153]. - The interest rate on the 2021 Term Loan was 8.1% as of March 31, 2024 [149]. - The company recorded a $0.4 million gain on the interest rate swap for the three months ended March 31, 2024 [163]. - The notional amount on the interest rate swap agreement is $675.0 million, with a fixed rate of 5.17% paid by the company [163].

Exhibit 99.1 Verra Mobility Announces First Quarter 2024 Financial Results MESA, Ariz., May 2, 2024 /PRNewswire/ – Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the first quarter ended March 31, 2024. "Our first quarter results provided a very strong start to 2024," said David Roberts, President and CEO, Verra Mobility. "Driven in large part by the successful implementation of the Verra Mobility Operating Syste ...