Verra Mobility(US:VRRM)2022-04-21 23:27Financial 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]