VERRA MOBILITY Corp

Listed Company

VRRMCIK 0001682745NasdaqLarge AcceleratedTransportation ServicesFY ends Dec 31

Period

FY 2025

Revenue

$979.08M

Net Income

$136.63M

Total Assets

$1.65B

Equity

$292.96M

Shares Out

151.36M

Op. Cash Flow

$255.80M

Business

VERRA MOBILITY Corp is a provider of smart mobility technology solutions delivering integrated, data-driven transportation services. It offers toll and violations management, title and registration services, automated safety and traffic enforcement, commercial parking management, hardware and software, and related data and administrative services. Its operations are organized into three segments: Commercial Services, Government Solutions and Parking Solutions. The company serves customers across the United States, Australia, Europe and Canada through direct contracts with fleets, government agencies, parking operators, universities, healthcare facilities and other issuing authorities.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	979	879	817	742	551
Operating expenses	333	296	273	226	163
Selling, general and administrative expenses	215	195	199	163	123
Depreciation, amortization and (gain) loss on disposal of assets, net	116	109	113	140	117
Goodwill impairment	0	97	0	0	—
Total costs and expenses	741	743	628	577	439
Income from operations	238	136	189	165	112
Interest expense, net	65	74	87	69	—
Change in fair value of private placement warrants	0	0	25	−14	8
Tax receivable agreement liability adjustment	687,000	−257,000	−3	−720,000	−1
Loss on interest rate swap	0	494,000	817,000	−996,000	0
Loss on extinguishment of debt	1	2	4	−3	5
Other income, net	−23	−19	−11	−13	−13
Total other expenses	43	57	102	38	44
Income before income taxes	195	79	87	127	68
Income tax provision	58	48	30	35	26
Net income	137	31	57	92	41
Change in foreign currency translation adjustment	7	−7	3	−8	−5
Total comprehensive income	144	24	60	85	36
Basic (per share)	0.86	0.19	0.36	0.61	0.26
Diluted (per share)	0.85	0.19	0.36	0.5	0.25
Basic (shares)	159	165	159	153	160
Diluted (shares)	161	168	160	159	164

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	65	78	136	105	101
Restricted cash	3	4	3	4	3
Accounts receivable (net of allowance for credit losses of $23.0 million and $17.0 million at December 31, 2025 and 2024, respectively)	234	207	198	164	161
Unbilled receivables	56	48	37	31	29
Inventory	21	16	18	19	12
Prepaid expenses and other current assets	62	43	47	40	41
Total current assets	441	394	440	363	348
Installation and service parts, net	27	37	23	23	13
Property and equipment, net	209	142	123	110	96
Operating lease assets	36	30	34	38	39
Intangible assets, net	169	232	301	377	487
Goodwill	742	736	836	833	839
Other non-current assets	22	44	34	12	15
Total assets	1,646	1,614	1,790	1,756	1,837
Accounts payable	102	91	79	80	68
Deferred revenue	27	29	29	31	27
Accrued liabilities	70	74	93	49	38
Tax receivable agreement liability, current portion	5	5	5	5	5
Current portion of long-term debt	7	0	9	22	37
Total current liabilities	210	200	215	187	175
Long-term debt, net of current portion	1,021	1,034	1,029	1,190	1,207
Operating lease liabilities, net of current portion	31	26	29	33	35
Tax receivable agreement liability, net of current portion	38	43	48	51	57
Asset retirement obligation	18	15	15	13	12
Deferred tax liabilities, net	16	15	18	21	48
Other long-term liabilities	17	16	14	6	6
Total liabilities	1,353	1,349	1,369	1,525	1,577
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.0001 par value, 1,000 shares authorized with no shares issued and outstanding at December 31, 2025 and 2024	0	0	0	—	—
Common stock, $0.0001 par value, 260,000 shares authorized with 153,557 and 159,594 shares issued and outstanding at December 31, 2025 and 2024, respectively	15,000	16,000	17,000	15,000	16,000
Additional paid-in capital	547	552	558	305	310
Accumulated deficit	−244	−269	−126	−98	−81
Accumulated other comprehensive loss	−11	−18	−10	−13	−5
Total stockholders' equity	293	265	421	231	260
Total liabilities and stockholders' equity	1,646	1,614	1,790	1,756	1,837

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	137	31	57	92	41
Depreciation and amortization	114	109	113	139	117
Amortization of deferred financing costs and discounts	3	4	5	5	5
Change in fair value of private placement warrants	0	0	25	—	—
Tax receivable agreement liability adjustment	687,000	−257,000	−3	−720,000	−1
Change in fair value of interest rate swap	0	1	−320,000	−996,000	—
Loss on extinguishment of debt	1	2	4	−3	5
Gain on lease modification	−2	0	0	—	—
Credit loss expense	23	13	9	14	10
Deferred income taxes	19	−10	−27	−17	−11
Stock-based compensation	25	23	17	17	14
UTP reserve release	−2	0	0	—	—
Goodwill impairment	0	97	0	0	—
Impairment of long-lived assets and ROU assets	9	170,000	4	0	0
Other	3	1	359,000	3	308,000
Accounts receivable	−50	−23	−42	−18	15
Unbilled receivables	−7	−12	−6	−2	−8
Inventory	3	2	1	−10	3
Prepaid expenses and other assets	−10	6	−2	4	−5
Deferred revenue	−3	1	−2	5	−4
Accounts payable and other current liabilities	−2	−16	51	7	—
Other liabilities	−7	−6	4	−1	−4
Net cash provided by operating activities	256	224	206	218	193
Cash receipts (payments) for interest rate swap	0	822,000	−1	0	—
Purchase of intellectual property	0	0	−500,000	0	0
Purchases of installation and service parts and property and equipment	−119	−71	−57	−48	−25
Cash proceeds from the sale of assets	305,000	314,000	332,000	241,000	265,000
Net cash used in investing activities	−119	−70	−58	−49	−476
Borrowings on long-term debt	30	37	0	0	1,246
Repayment of long-term debt	−38	−46	−182	−9	−885
Payment of debt issuance costs	−3	−716,000	−459,000	−447,000	−11
Proceeds from the exercise of warrants	0	0	161	0	0
Share repurchases and retirement	−133	−200	−100	−125	−100
Proceeds from exercise of stock options	1	4	6	1	155,000
Payment of employee tax withholding related to RSUs and PSUs vesting	−7	−6	−3	−7	−6
Net cash used in financing activities	−151	−211	−118	−165	269
Effect of exchange rate changes on cash and cash equivalents	1	−1	589,000	−130,000	−2
Net (decrease) increase in cash, cash equivalents and restricted cash	−13	−59	31	5	−16
Interest paid	65	76	86	64	36
Income taxes paid, net of refunds	47	50	54	48	36
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at year-end	11	9	5	10	2
Accrued excise tax payable on net share repurchases	1	2	0	0	—
Operating lease assets obtained in exchange for new operating lease liabilities	30	4	0	0	—
Operating lease asset and operating lease liability released for modified lease	15	0	0	—	—
Earn-out shares issued to PE Greenlight Holdings, LLC	0	0	37	0	—
Increase in additional paid-in capital due to exercise of private placement warrants	0	0	49	0	0

Filings

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