Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs, which detects and process traffic violations related to red light, speed, school bus, and city bus lanes. This segment serves municipalities, counties, school districts, and law enforcement agencies. The Commercial Services segment provides automated toll and violations management, and title and registration solutions to rental car companies, fleet management companies, and other large fleet owners. The company was incorporated in 2016 and is headquartered in Mesa, Arizona.
IPO Year: 2017
Exchange: NASDAQ
Website: verramobility.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/20/2023 | $25.00 | Buy | UBS |
| 7/31/2023 | $21.00 → $26.00 | Hold → Buy | Deutsche Bank |
| 7/13/2022 | $18.00 | Outperform → Neutral | Robert W. Baird |
| 3/30/2022 | $17.00 | Hold | Deutsche Bank |
| 11/9/2021 | $18.50 → $19.00 | Outperform | Credit Suisse |
| 8/11/2021 | $17.00 → $18.50 | Outperform | Credit Suisse |
| 8/10/2021 | $16.00 → $17.00 | Equal-Weight | Morgan Stanley |
| 7/6/2021 | $15.00 → $16.00 | Equal-Weight | Morgan Stanley |
As a leader in smart mobility technology solutions, we are partnering with a leader in artificial intelligence and spatial analytics, Hayden AI, to offer next-generation technology solutions to customers across the U.S. Our partnership will deliver a seamless technology platform designed to improve road safety, sustainability, and public transit reliability and accessibility.While the partnership will leverage Hayden AI's mobile perception technology, Verra Mobility will contribute its customer integration experience to provide cities and transit agencies with a best-in-class program for automated bus lane, bike lane, bus stop, and double-parking enforcement solutions.
- SEC Filing
- SEC Filing
2024 Full Year GuidanceAny guidance that we provide is subject to change as a variety of factors can affect actual operating results. Certain of the factors that may impact our actual operating results are identified below in the safe harbor language included within Forward-Looking Statements of this press release.Based on our first quarter results and our outlook for the remainder of the year, we are expecting to deliver results as follows: Previous GuidanceUpdated GuidanceTotal Revenue$865 million to $880 millionUpper-end of rangeAdjusted EBITDA$395 million to $405 millionUpper-end of rangeAdjusted EPS$1.15 to $1.20Upper-end of rangeAdjusted Free Cash Flow$155 million to $165 million$155 m
Verra Mobility (NASDAQ:VRRM) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.26 by 3.85 percent. This is a 3.85 percent increase over earnings of $0.26 per share from the same period last year. The company reported quarterly sales of $209.73 million which beat the analyst consensus estimate of $203.02 million by 3.31 percent. This is a 9.29 percent increase over sales of $191.90 million the same period last year.
2024 Full Year GuidanceAny guidance that we provide is subject to change as a variety of factors can affect actual operating results. Certain of the factors that may impact our actual operating results are identified below in the safe harbor language included within Forward-Looking Statements of this press release.We are providing the following forward-looking guidance, which includes Adjusted EBITDA, Adjusted EPS, and Adjusted Free Cash Flow, all of which are non-GAAP financial measures (defined below):Total revenue of $865 million to $880 millionAdjusted EBITDA of $395 million to $405 millionAdjusted EPS of $1.15 to $1.20Adjusted Free Cash Flow of $155 million to $165 million
Verra Mobility (NASDAQ:VRRM) reported quarterly earnings of $0.24 per share which missed the analyst consensus estimate of $0.26 by 7.69 percent. This is a 4 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $211.01 million which beat the analyst consensus estimate of $202.71 million by 4.10 percent. This is a 13.41 percent increase over sales of $186.07 million the same period last year.
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. He will report to David Roberts, president and CEO, Verra Mobility. Mr. Kharche brings more than 15 years of experience from his tenure at Fortive and Danaher Corporation. In his most recent role, Mr. Kharche served as Vice Pr
HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced the appointment of George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary, effective September 1, 2024. Mr. Hittner brings a unique and extensive combination of legal, corporate and legislative experience in both the public and private sectors. Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are excited to have George join our executive team at W&T. His twenty-plus years serving as an attorney in law firms, as general counsel, and in government will help continue to propel W&T's strategic goals." Before founding his ow
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 stay with the company when it was acquired by Verra Mobility in 2021. Mo
MESA, Ariz., April 22, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, today announced the appointment of Cate Prescott as the company's Executive Vice President and Chief People Officer. Ms. Prescott joins Verra Mobility from National Instruments (NASDAQ:NATI), a leading provider of software-connected automated test and measurement solutions, where she served as Chief People Officer. Before being acquired by Emerson Corporation in 2023, National Instruments was a publicly traded company with approximate
Verra Mobility will take an active role in the development of open standards and technology for connected vehicles as part of trusted global alliance of automotive experts MESA, Ariz., April 9, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced today that it has joined the Connected Vehicle Systems Alliance, also known as COVESA. The organization's goal is to develop open standards and innovative technologies for connected vehicle systems and shape the future of connected vehicles and the mobility ecosystem.
Mr. Ratnakar brings decades of experience leading corporate strategy and M&A for large industrial and technology companies. MESA, Ariz., Feb. 20, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced Raj Ratnakar has been appointed as a new independent director on the company's Board of Directors. Mr. Ratnakar fills the vacancy after Sarah Farrell resigned from the Board on February 15, 2024. Mr. Ratnakar served as Senior Vice President and Chief Strategy Officer for DuPont from 2019 to 2023, where h
MESA, Ariz., July 19, 2023 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced today the appointment of Katrina Sevier as Chief People Officer. Ms. Sevier joins Verra Mobility from global digital business services provider Teleperformance, where she served as Chief Human Resources Officer for Teleperformance USA and oversaw the transformation of the human resources organization in the U.S. She brings more than 16 years of experience as a human resources leader for technology and financial services organ
MESA, Ariz., Dec. 16, 2022 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced today the appointment of Jon Keyser as Executive Vice President and Chief Legal Officer, effective December 19, 2022. Mr. Keyser joins Verra Mobility from Honeywell International Inc. (NASDAQ:HON), where he served as Vice President and General Counsel for Honeywell's Performance Materials and Technology (PMT) business division. Honeywell PMT is a $10 billion annual revenue science, technology and ESG-oriented business that de
MESA, Ariz., March 31, 2022 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM) (the "Company"), a leading provider of smart mobility solutions, announced today that it is continuing to finalize its financial statements for the fiscal year ended December 31, 2021, and complete the related Audit Committee investigation described in the Company's Form 12b-25 filing issued on February 28, 2022. The Company expects the audit of its financial statements to be completed in the near term and confirms its estimated results for 2021 as set forth in its press release dated February 28, 2022.
MESA, Ariz., March 23, 2022 /PRNewswire/ -- Verra Mobility (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced today the appointment of Jon Baldwin as Executive Vice President of Government Solutions, effective April 4, 2022. Mr. Baldwin previously served as President of Fortive's Gems, Sensors and Controls business, a global supplier of industrial sensors and control components. He brings 26 years of experience leading global business operations, including a focus on business-to-government software and services. Mr. Baldwin will be a key member
10-Q - VERRA MOBILITY Corp (0001682745) (Filer)
8-K - VERRA MOBILITY Corp (0001682745) (Filer)
8-K - VERRA MOBILITY Corp (0001682745) (Filer)
10-Q - VERRA MOBILITY Corp (0001682745) (Filer)
8-K - VERRA MOBILITY Corp (0001682745) (Filer)
8-K - VERRA MOBILITY Corp (0001682745) (Filer)
144 - VERRA MOBILITY Corp (0001682745) (Subject)
144 - VERRA MOBILITY Corp (0001682745) (Subject)
8-K - VERRA MOBILITY Corp (0001682745) (Filer)
8-K - VERRA MOBILITY Corp (0001682745) (Filer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
3 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
3 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
4 - VERRA MOBILITY Corp (0001682745) (Issuer)
UBS initiated coverage of Verra Mobility with a rating of Buy and set a new price target of $25.00
Deutsche Bank upgraded Verra Mobility from Hold to Buy and set a new price target of $26.00 from $21.00 previously
Robert W. Baird downgraded Verra Mobility from Outperform to Neutral and set a new price target of $18.00
Deutsche Bank initiated coverage of Verra Mobility with a rating of Hold and set a new price target of $17.00
Credit Suisse reiterated coverage of Verra Mobility with a rating of Outperform and set a new price target of $19.00 from $18.50 previously
Credit Suisse reiterated coverage of Verra Mobility with a rating of Outperform and set a new price target of $18.50 from $17.00 previously
Morgan Stanley reiterated coverage of Verra Mobility with a rating of Equal-Weight and set a new price target of $17.00 from $16.00 previously
Morgan Stanley reiterated coverage of Verra Mobility with a rating of Equal-Weight and set a new price target of $16.00 from $15.00 previously
Morgan Stanley downgraded Verra Mobility from Overweight to Equal-Weight and set a new price target of $15.00 from $14.00 previously
Credit Suisse reiterated coverage of Verra Mobility with a rating of Outperform and set a new price target of $17.00 from $16.00 previously
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).
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 ranked 56th on the prestigious annual listing, which ranks global companies based on revenue growth, profits and stock returns over a three-year period. This year marks the 39th year of the Fastest-Growing
Total revenue of $225.6 millionNet income of $34.7 millionNet cash provided from operations of $108.8 millionIncreasing 2024 Adjusted Free Cash Flow guidance and reaffirming all other financial guidance metricsMESA, 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. "We delivered a solid third quarter, highlighted by strong revenue, earnings, and cash flow generation," said David Roberts, President and CEO,
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. Passing a stopped school bus with its stop-arm extended is
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.
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's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on October 31, 2024. To access the conference call, dial 1-800-717-1738 (U.S. tol
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. The survey, which was conducted by Verra Mobility's Commercial Services business, explored attitudes and awareness around connected vehicle features. The survey found that over half of Americans find the idea of a vehicle being a "digital wallet" appealing, and 54% would
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. He will report to David Roberts, president and CEO, Verra Mobility. Mr. Kharche brings more than 15 years of experience from his tenure at Fortive and Danaher Corporation. In his most recent role, Mr. Kharche served as Vice Pr
HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced the appointment of George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary, effective September 1, 2024. Mr. Hittner brings a unique and extensive combination of legal, corporate and legislative experience in both the public and private sectors. Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are excited to have George join our executive team at W&T. His twenty-plus years serving as an attorney in law firms, as general counsel, and in government will help continue to propel W&T's strategic goals." Before founding his ow
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 stay with the company when it was acquired by Verra Mobility in 2021. Mo
Total revenue of $225.6 millionNet income of $34.7 millionNet cash provided from operations of $108.8 millionIncreasing 2024 Adjusted Free Cash Flow guidance and reaffirming all other financial guidance metricsMESA, 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. "We delivered a solid third quarter, highlighted by strong revenue, earnings, and cash flow generation," said David Roberts, President and CEO,
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's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on October 31, 2024. To access the conference call, dial 1-800-717-1738 (U.S. tol
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's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on August 8, 2024. To access the conference call, dial 1-800-717-1738 (U.S. toll-free)
Total revenue of $209.7 millionNet income of $29.1 millionGenerated cash flows from operations of $34.3 millionIncreasing 2024 financial guidanceMESA, 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 System
MESA, Ariz., April 23, 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 first quarter ended March 31, 2024, after market close on May 2, 2024. Verra Mobility's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on May 2, 2024. To access the conference call, dial 1-800-717-1738 (U.S. toll-free) or 1-
MESA, Ariz., Feb. 22, 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 fourth quarter ended December 31, 2023, after market close on February 29, 2024. Verra Mobility's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on February 29, 2024. To access the conference call, dial 1-888-886-7786 (U.S. t
Total revenue of $204.5 millionNet income of $19.1 millionGenerated cash flows from operations of $62.7 millionIncreasing 2023 financial guidanceMESA, Ariz., Aug. 9, 2023 /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, 2023. "We delivered an outstanding second quarter, highlighted by strong recurring revenue growth and free cash flow generation," said David Roberts, President and CEO, Verra Mobility. "I am incredibly pleased with our
MESA, Ariz., July 31, 2023 /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, 2023, after market close on August 9, 2023. Verra Mobility's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on August 9, 2023. To access the conference call, dial 1-888-886-7786 (U.S. toll-free)
MESA, Ariz., April 13, 2023 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the first quarter ended March 31, 2023, after market close on May 4, 2023. Verra Mobility's Chief Executive Officer, David Roberts, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on May 4, 2023. To access the conference call, dial 1-888-886-7786 (U.S. toll-free) or 1-
Full year 2022 revenue of $741.6 millionFull year 2022 net income of $92.5 millionFull year 2022 cash flows from operations of $218.3 millionMESA, Ariz., March 1, 2023 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ:VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the fourth quarter and full year ended December 31, 2022. "We had a great finish to the year, exceeding the high end of our guidance and surpassing all other measures we were tracking," said David Roberts, President and CEO, Verra Mobility. "Our strategy i
SC 13G - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13D/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)
SC 13G/A - VERRA MOBILITY Corp (0001682745) (Subject)