Verra Mobility Corp

Verra Mobility Corp. engages in the provision of smart mobility technology solutions and services. It operates through the following segments: Government Solutions, Commercial Services, and Parking Solutions. The Government Solutions segment delivers traffic law enforcement services and products to state and local governments. The Commercial Services segment offers tolling and violation management services to rental car companies, commercial fleet vehicle owners, and violation issuing authorities. The Parking Solutions segment consists of an integrated suite of parking and hardware solutions to its customers. The company was founded in 2004 and is headquartered in Mesa, AZ.

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Verra Mobility exceeds Q4 revenue expectations, eyes growth opportunities

Verra Mobility's strong Q4 performance and solid full-year results set a positive financial trajectory for continued growth in 2023.
Strategic priorities focusing on core business growth, workplace engagement, and safety initiatives position the company for long-term success and innovation.
While facing challenges in revenue fluctuations and regulatory landscapes, Verra Mobility's proactive approach to opportunities in new services and technology investments bodes well for future expansion.
Overall, Verra Mobility's commitment to financial discipline, innovation, and community safety underpins its resilience and growth potential in the evolving mobility solutions market.

Verra Mobility Corp posts robust Q1 results and outlines growth strategies

Verra Mobility Corp delivered strong Q1 2023 results, showcasing revenue growth, margin improvement, and enhanced financial performance.
The company's strategic focus on partnerships, legislative advancements, and cost management underpins its growth trajectory and market positioning.
While facing challenges in market dynamics and regulatory scrutiny, Verra Mobility's positive outlook and robust guidance signal opportunities for sustained growth and value creation.

Verra Mobility Corp reports strong Q2 earnings, raises full-year guidance

Verra Mobility Corp demonstrated robust financial performance in Q2 2023, driven by revenue growth across key segments and a focus on free cash flow conversion.
While facing challenges in margin improvement and capital allocation, the company's strengths in market positioning and revenue diversification offer growth opportunities.
Overall, Verra Mobility's positive outlook, increased revenue guidance, and strategic initiatives position it well for future success and shareholder value creation.

Verra Mobility reports robust Q3 performance and identifies growth opportunities

Verra Mobility's Q3 performance reflects strong revenue growth, successful contract renewals, and a positive outlook for future financial performance. While facing potential regulatory challenges, the company has identified opportunities for revenue expansion and market growth, positioning itself for continued success.

Verra Mobility posts robust Q4 results, eyes growth opportunities

Verra Mobility's strong Q4 performance and strategic focus on reducing leverage position the company for continued growth and financial stability in 2024.
While facing challenges in cashless tolling penetration and potential legislative delays, Verra is poised to capitalize on growth opportunities in various segments.
With a clear roadmap for revenue and EBITDA targets, Verra Mobility aims to maintain market leadership and drive growth through key initiatives and market expansion.

Verra Mobility excels in Q1 2024, eyes growth opportunities

Verra Mobility's Q1 2024 showcased strong financial performance and growth across key segments.
Addressing transactional challenges and focusing on operational enhancements and contract wins.
Opportunities lie in leveraging VMOS, revised leverage targets, and increased guidance for the year.

Verra Mobility Corp reports robust Q3 performance and eyes growth opportunities

Verra Mobility Corp's Q3 performance showcased strong revenue growth, profitability, and cash flow generation, underpinned by robust demand for automated enforcement solutions.
While facing challenges in certain segments and growth projections, the company's strategic measures and financial health position it well for long-term success and capitalizing on opportunities.
Maintaining operational efficiency, pursuing strategic initiatives, and evaluating growth opportunities through M&A and share buybacks are key focus areas for driving future performance and shareholder value.
Overall, Verra Mobility's solid financial health, strong performance, and strategic positioning indicate resilience and potential for sustained growth in the evolving market landscape.

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Verra Mobility Corp. engages in the provision of smart mobility technology solutions. It operates through the following segments: Government Solutions, Commercial Services, and Parking Solutions. The Government Solutions segment offers automated safety solutions to state and local governments. The Commercial Services segment provides toll and violation management solutions by partnering with the fleet management and rental car companies. The Parking Solutions segment includes a suite of parking software and hardware solutions. The company was founded in 2004 and is headquartered in Mesa, AZ.

Verra Mobility proprietary data shows the Wednesday before Thanksgiving sees more than 50,000 red-light violations MESA, Ariz. , Nov. 11, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today new proprietary data from its U.S. traffic safety systems, showing that for the past five years (2019-2023), the Wednesday before Thanksgiving recorded the highest number of red-light violations over the holiday weekend, while Thanksgiving Day experienced the most speeding violations for the past two years (2022 and 2023).

Thanksgiving weekend sees surges in traffic infractions; more than 150,000 speeding violations occurred last year

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Recognition demonstrates Verra Mobility's continued growth, business performance and smart mobility market-leading positions MESA, Ariz. , Nov. 4, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, has been named to the Fortune 100 Fastest-Growing Companies list for the second year in a row.

Verra Mobility named to Fortune 100 Fastest-Growing Companies list for second year in a row

Verra Mobility delivered solid 3Q24 results, driven by strong growth in its core segments, Commercial Services and Government Solutions. The company's growth prospects remain strong, supported by the continued recovery in domestic travel and the expansion of government programs. Valuation is now cheaper, which makes the risk reward situation more attractive.

Verra Mobility: Valuation Got Cheaper And Fundamentals Remain Sound (Rating Upgrade)

Verra Mobility Corporation (NASDAQ:VRRM ) Q3 2024 Earnings Conference Call October 31, 2024 5:00 PM ET Company Participants Mark Zindler - VP, IR David Roberts - CEO Craig Conti - CFO Conference Call Participants Nik Cremo - UBS Daniel Moore - CJS Securities Faiza Alwy - Deutsche Bank Dave Koning - Baird Keith Housum - Northcoast Research Shefali Tamaskar - Morgan Stanley Noah Levitz - William Blair Operator Good afternoon, ladies and gentlemen, and welcome to the Verra Mobility Third Quarter 2024 Earnings Conference Call. At this time, all lines are in a listen-only mode.

Verra Mobility Corporation (VRRM) Q3 2024 Earnings Call Transcript

VERRA MOBILITY CORP (VRRM) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.29 per share a year ago.

VERRA MOBILITY CORP (VRRM) Q3 Earnings Surpass Estimates

Total revenue of $225.6 million Net income of $34.7 million Net cash provided from operations of $108.8 million Increasing 2024 Adjusted Free Cash Flow guidance and reaffirming all other financial guidance metrics MESA, Ariz. , Oct. 31, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the third quarter ended September 30, 2024.

Verra Mobility Announces Third Quarter 2024 Financial Results

Organizations are encouraged to download and share the free toolkit, including social media posts and digital collateral, to advocate for safer school transportation MESA, Ariz. , Oct. 21, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, has launched the 'Zero in on School Bus Safety Toolkit' to champion National School Bus Safety Week (October 21-25) and encourage others to embrace the importance of using safe driving behavior around school buses.

Verra Mobility launches National School Bus Safety Week campaign to raise awareness around school bus safety

Partnership with San Francisco Municipal Transportation Agency involves 33 speed camera locations; program expected to be fully operational early 2025 MESA, Ariz. , Oct. 16, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the approval from the San Francisco Municipal Transportation Agency (SFMTA) Board of Directors to design, build, operate and maintain a speed safety program across the city and county of San Francisco – California's first speed safety program leveraging advanced automated technology.

Verra Mobility to implement California's first automated speed safety program in San Francisco

MESA, Ariz. , Oct. 10, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the third quarter ended September 30, 2024, after market close on October 31, 2024.

Verra Mobility Schedules Third Quarter 2024 Earnings Call

Verra Mobility conducted a connected vehicle survey of Americans who own or lease a vehicle 2019 or newer explores attitudes and awareness about current and future technology MESA, Ariz. , Sept. 24, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the results of a new survey of 2,000 Americans who own or lease a vehicle 2019 or newer.

51% of Americans find the idea of a vehicle being a "digital wallet" appealing; 54% would enable this feature if available

Brings 15 years of experience driving continuous improvement and business integration at Fortive and Danaher MESA, Ariz. , Sept. 9, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the appointment of Harshad Kharche as Senior Vice President of Business Transformation.

Harshad Kharche joins Verra Mobility as Senior Vice President of Business Transformation

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.

Verra Mobility appoints Lin Bo to lead company's parking business, T2 Systems

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 incident management.

Verra Mobility partners with Xtract to offer incident management solutions to vehicle fleet customers

Verra Mobility Corporation (NASDAQ:VRRM ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Mark Zindler – Investor Relations David Roberts – Chief Executive Officer Craig Conti – Chief Financial Officer Conference Call Participants Faiza Alwy – Duetsche Bank Daniel Moore – CJS Securities Keith Housum – Northcoast Research Louie DiPalma – William Blair David Koning – Baird Operator Good afternoon, ladies and gentlemen, and welcome to the Verra Mobility Second Quarter 2024 Earnings Call. At this time all lines are in a listen-only mode.

Verra Mobility Corporation (VRRM) Q2 2024 Earnings Call Transcript

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.

VERRA MOBILITY CORP (VRRM) Q2 Earnings and Revenues Beat Estimates

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.

Verra Mobility Announces Second Quarter 2024 Financial Results

Verra Mobility boasts high customer renewal rates, and the vast majority of its sales are recurring. The company has a long growth runway ahead with cross-selling and geographic expansion potential.

1 Top Growth Stock Up 119% Since 2023 to Buy and Hold Forever

NEW YORK , July 23, 2024 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Verra Mobility Corporation (NASDAQ: VRRM) on behalf of the company's shareholders. The investigation seeks to determine whether Verra Mobility's directors breached their fiduciary duties in connection with recent corporate actions.

SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Announces Shareholder Investigation of Verra Mobility Corporation (NASDAQ: VRRM)

MESA, Ariz. , July 16, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the second quarter ended June 30, 2024, after market close on August 8, 2024.

Verra Mobility Schedules Second Quarter 2024 Earnings Call

Verra Mobility polled city technology leaders who shared how they are turning to technology to navigate revolutionary transportation trends such as AI, EVs, and connected vehicles while improving road safety MESA, Ariz. , June 26, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, today released findings from a new urban mobility technology report which found that nearly all U.S. municipalities (93%) anticipate they will need to be ready for driverless autonomous vehicles on their streets within five years.

New Urban Mobility Technology Study finds 93% of U.S. cities are preparing for driverless vehicles within five years

Safety, privacy, and innovation are key components to partnership MESA, Ariz. , June 25, 2024 /PRNewswire/ --  Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, and Hayden AI , a leader in artificial intelligence and spatial analytics, announced today a partnership to offer next-generation technology solutions to customers across the U.S. Together, the two companies will deliver a seamless technology platform designed to improve road safety, sustainability, and public transit reliability and accessibility.

Verra Mobility and Hayden AI partner to facilitate automated bus lane and bus stop enforcement

Verra Mobility (VRRM) partners with Bluedot to provide easy charging access for its fleet customers.

Verra Mobility (VRRM), Bluedot Unite on EV Charging for Fleets

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Partnership alleviates some of the challenges that fleets must navigate in the electrification of vehicles such as range, battery limitations and automated payments solutions MESA, Ariz. , June 18, 2024 /PRNewswire/ --  Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today a partnership with all-in-one electric vehicle (EV) fleet management platform Bluedot to offer charging capabilities to fleet customers.

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