Verra Mobility Corporation · Q3 2021 earnings

Briefing

Reported strong third quarter results with significant revenue and profit growth.

Verra Mobility reported a strong third quarter with revenue of $162.1 million, a 67% increase year-over-year, and net income of $27.3 million, or $0.14 per share. The Commercial Services segment saw a 75% revenue increase, while the Government Solutions segment experienced 61% revenue growth. The company also made progress integrating Redflex, expecting continued synergies.

• Total revenue for the third quarter of 2021 was $162.1 million, an increase of 67% compared to $96.9 million for the third quarter of 2020.
• Net income for the third quarter of 2021 was $27.3 million, or $0.14 per share based on 165.4 million diluted weighted average shares outstanding.
• Adjusted EPS for the third quarter of 2021 was $0.27 per share compared to $0.17 per share for the third quarter of 2020.
• Adjusted EBITDA was $82.1 million for the third quarter of 2021, compared to $53.5 million for the same period last year.

Headline financials

Revenue & EPS history

This press release contains forward-looking statements which address the Company’s expected future business and financial performance, and may contain words such as “goal,” “target,” “future,” “estimate,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “project,” “may,” “should,” “will” or similar expressions.