Verra Mobility Corporation is a leading provider of smart mobility technology solutions, operating globally to make transportation safer, smarter, and more connected. The company offers integrated, data-driven solutions that address toll and violations management, automated safety enforcement, and parking management. Its products and services cater to a diverse range of customers, including commercial fleet operators, governments, universities, and parking operators.
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Commercial Services - Provides toll and violations management, as well as title and registration solutions for rental car companies, fleet operators, and fleet management companies. Key offerings include toll payment processing, liability transfers, and vehicle registration services.
- Toll Management Solutions - Handles timely toll payments, driver billing, and collections.
- Violations Management Solutions - Processes parking and photo enforcement violations.
- Title and Registration Solutions - Manages vehicle title and registration renewals.
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Government Solutions - Offers automated safety enforcement solutions, including speed, red-light, school bus stop arm, and bus lane camera systems. Services include installation, maintenance, and management of enforcement hardware and software.
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Parking Solutions - Delivers parking management solutions, including software, transaction processing, and hardware for universities, municipalities, healthcare facilities, and commercial operators. Key offerings include permitting systems, pay stations, and mobile payment solutions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David Roberts ExecutiveBoard | President and Chief Executive Officer | CEO of Verra Mobility since October 2018, previously served as President and CEO of American Traffic Solutions from May 2018 to October 2018, and held leadership roles at BillingTree, Bank of America Merrill Lynch, and Equity Methods. | View Report → | |
Craig Conti Executive | Executive Vice President and Chief Financial Officer | Craig Conti is the Executive Vice President and Chief Financial Officer at Verra Mobility Corporation since April 2022. He has extensive experience from previous leadership roles at Century Aluminum, Illinois Tool Works, GE HealthCare, and General Electric, showcasing his expertise in finance, operations, and strategy. | ||
Jonathan Baldwin Executive | Executive Vice President, Government Solutions | Jonathan Baldwin serves as Executive Vice President, Government Solutions at Verra Mobility since April 2022. Previously, he held leadership roles at companies such as Fortive Corporation and Texas Instruments. | ||
Jonathan Keyser Executive | Executive Vice President and Chief Legal Officer | Jonathan Keyser has served as the Executive Vice President and Chief Legal Officer at VRRM since December 19, 2022. He also holds the role of Chief Compliance Officer and Corporate Secretary, and has no board or committee memberships at VRRM. | ||
Lin Bo Executive | Senior Vice President of T2 Systems | Lin Bo is Senior Vice President of T2 Systems at VRRM since September 2024. She previously held leadership roles at Filtration Group, Danaher Corporation, and began her career as a consultant at ZS Associates. | ||
Steve Lalla Executive | Executive Vice President, Commercial Services | Steve Lalla serves as Executive Vice President, Commercial Services at VRRM since February 2021. With over 30 years of experience leading global technology companies including Vertiv, Dell, and Motorola, he has driven transformational initiatives and expanded VRRM's fleet management services. | ||
Cynthia Russo Board | Member of the Board of Directors | Director, Audit Committee Chair at PAR Technology Corporation; Audit Committee Chair at Verifone, Inc.; CFO Operating Partner at SimPRO Holdings, Inc.; CFO Operating Partner at Panopto, Inc. | Cynthia Russo has been a board member at Verra Mobility Corporation since the 2019 annual meeting of stockholders. She brings extensive financial and operational expertise from previous roles, including serving as Audit Committee Chair at PAR Technology Corporation and Verifone, Inc.. | |
Douglas Davis Board | Director | Director at Oshkosh Corporation ; Director at Cerence Corporation | Douglas Davis has been serving as a director at Verra Mobility Corporation since 2019. He is the Chairman of the Compensation Committee and a member of the Nominating and Corporate Governance Committee. | |
John Rexford Board | Member of the Board of Directors | Managing Director, Ramona Park Consulting LLC | John Rexford has over 36 years of experience in finance and corporate governance. He has served as a member of the Board of Directors and as Chairman of the Audit Committee at Verra Mobility since October 2018. | |
Michael Huerta Board | Member of the Board of Directors | Independent Director at Delta Air Lines, Inc. ; Board Member at Joby Aviation, Inc. ; Board Trustee at The MITRE Corporation | Michael Huerta has served on the Verra Mobility Corporation Board of Directors since May 2021 and chairs the Nominating and Corporate Governance Committee. Previously, he held significant leadership roles at the FAA including Administrator from 2013 to 2018. | |
Patrick J. Byrne Board | Chairman of the Board | Chairman of the Board of Directors at Diebold Nixdorf | Patrick J. Byrne has served as the Chairman of the Board at VRRM since 2022 and been a Board Director since November 2020. He brings extensive experience in technological and operational leadership from previous roles at GE, Danaher, and as Chairman of the Board at Diebold Nixdorf. | |
Raj Ratnakar Board | Class III Director | Independent Private Equity Advisor | Raj Ratnakar joined VRRM as a Class III Director on February 16, 2024 to fill a board vacancy. He brings extensive leadership experience in corporate strategy and M&A, previously serving as Senior Vice President and Chief Strategy Officer at DuPont Corporation from 2019 to 2023 and holding senior roles at Fortive, Danaher, TE Connectivity, and McKinsey & Company. |
- In light of the sequential deceleration observed in Commercial Services, can you elaborate on what specific strategies you’ll implement if Q1 travel volumes remain below historical TSA levels while still targeting high single-digit organic growth for full-year 2025?
- With Government Solutions margins forecasted to face 150–200 basis points of pressure due partially to one-time ERP costs, what is the expected timeline for margin recovery, and how will you mitigate margin pressures if key markets like NYC experience further delays?
- Given the significant $97 million goodwill impairment in T2 Systems, what concrete operational improvements or turnaround strategies are being prioritized to restore profitability in the Parking Solutions segment?
- Considering your active capital allocation strategy, under what circumstances would you favor additional share repurchases over M&A opportunities, and what metrics will you use to determine the optimal balance between the two?
- As international markets—including key regions in Europe—transition to cashless tolling at varying speeds, how are you planning to accelerate revenue growth internationally, and what contingency strategies are in place if regulatory changes lag behind expectations?
Research analysts who have asked questions during VERRA MOBILITY earnings calls.
David Koning
Robert W. Baird & Co.
4 questions for VRRM
Louie DiPalma
William Blair
4 questions for VRRM
Daniel Moore
CJS Securities, Inc.
3 questions for VRRM
Faiza Alwy
Deutsche Bank
3 questions for VRRM
Keith Housum
Northcoast Research
3 questions for VRRM
Nikolai Cremo
UBS
2 questions for VRRM
James Faucette
Morgan Stanley
1 question for VRRM
Nikolai Chrin Cremo
Truist Securities
1 question for VRRM
Rodney McFall
NorthCoast Research Partners, LLC
1 question for VRRM
Shefali Tamaskar
Morgan Stanley
1 question for VRRM
Will Gildea
CJS Securities
1 question for VRRM
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Avis Budget Group, Inc. | Toll and violations management, title & registration solutions | Commercial Services | 13.5% of FY 2024 total revenue ($879.2M ) ≈ $118.7M ; potentially material if lost |
Enterprise Mobility | Toll and violations management, title & registration solutions | Commercial Services | 11.7% of FY 2024 total revenue ($879.2M ) ≈ $103.7M ; potentially material if lost |
The Hertz Corporation | Toll and violations management, title & registration solutions | Commercial Services | 10.8% of FY 2024 total revenue ($879.2M ) ≈ $94.1M ; potentially material if lost |
New York City Dept. of Transport | Automated enforcement programs (speed, red-light, bus lane, etc.) | Government Solutions | 15.8% of FY 2024 total revenue ($879.2M ) ≈ $139.1M ; 17.2% of A/R ($206.5M ) ≈ $35.5M |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
T2 Systems Parent Corporation | 2021 | Completed acquisition where Verra Mobility acquired T2 Systems for $347 million on a cash-free, debt-free basis (with up to $9 million in additional potential costs) to expand its capabilities in the North American parking management market; T2 Systems contributes advanced parking software and hardware solutions with nearly $80 million in revenue and $21 million adjusted EBITDA for 2021. |
Redflex Holdings Limited | 2021 | Completed acquisition on June 17, 2021, where Verra Mobility acquired 100% of Redflex for A$152.5 million (at A$0.96 per share, approximately US$117.9 million), aiming to enhance global reach and technological capabilities in intelligent traffic management; the deal integrated Redflex’s sensor and imaging-based traffic solutions into Verra Mobility’s Government Solutions segment with expected cost synergies of $8–10 million over 24 months. |
Recent press releases and 8-K filings for VRRM.
- Verra Mobility reported strong Q3 2025 financial results with total revenue increasing 16% year-over-year to $262 million and adjusted EPS growing 16% to $0.37 per share.
- The company is finalizing a new five-year automated enforcement contract with the New York City Department of Transportation, with an estimated total contract value of $963 million and expected annual service revenue growth from $135 million in 2024 to a range of $165 million to $185 million by 2027.
- Full-year 2025 revenue guidance was increased to a range of $955 million to $965 million, representing approximately 9% growth at the midpoint over 2024, primarily driven by the New York City red light camera expansion.
- For 2026, Verra Mobility anticipates mid-single-digit revenue growth but expects adjusted EBITDA margins to decline 250 to 300 basis points due to portfolio mix and the New York City renewal contract, partially offset by a low to mid-single-digit increase in adjusted EPS.
- The Board of Directors authorized a $150 million increase to the existing stock repurchase program, bringing the total available authorization to $250 million.
- Verra Mobility reported Total Revenue of $262 million for Q3 2025, marking a 16% year-over-year growth, with Adjusted EPS of $0.37, also up 16% year-over-year.
- Adjusted EBITDA increased 8% year-over-year to $113 million, and Free Cash Flow was $49 million, representing a 43% conversion of Adjusted EBITDA.
- Revenue growth was significantly driven by New York City red-light camera installations, which contributed to 19% year-over-year service revenue growth in Government Solutions.
- The company increased its 2025 Revenue Guidance to $955 - $965 million and authorized a $150 million increase to its existing stock repurchase program.
- New legislation in California for red-light camera reform and work zone speed enforcement opened an incremental $140 million of total addressable market.
- Verra Mobility reported total revenue of $261.9 million for the third quarter of 2025, marking a 16% increase compared to the third quarter of 2024.
- Net income for Q3 2025 was $46.8 million, with diluted earnings per share (EPS) of $0.29.
- Adjusted EBITDA reached $113.3 million for the third quarter of 2025, and net cash provided from operations was $77.7 million.
- The company increased its full-year 2025 total revenue guidance to a range of $955 million to $965 million, up from the prior range of $925 million to $935 million.
- The Board of Directors authorized a $150.0 million increase to the share repurchase program, expanding the total authorized amount to $250.0 million.
- Verra Mobility reported total revenue of $261.9 million for the third quarter of 2025, marking a 16% increase compared to the same period in 2024, with net income of $46.8 million and diluted EPS of $0.29.
- The Government Solutions segment revenue grew by 19%, largely due to the New York City Department of Transportation (NYCDOT) red-light expansion program, which contributed approximately $17 million in revenue during Q3 2025.
- The company increased its Full Year 2025 revenue guidance to a range of $955 million to $965 million, up from the previous range of $925 million to $935 million, while reaffirming all other guidance measures.
- The Board of Directors authorized a $150.0 million increase to the existing share repurchase program, bringing the total authorization to $250.0 million.
- VERRA MOBILITY CORPORATION (VRRM) filed an 8-K on October 17, 2025, announcing an Amended and Restated Revolving Credit Agreement.
- The agreement, dated October 17, 2025, designates VM Consolidated, Inc. as the Lead Borrower and Bank of America, N.A. as the Administrative Agent, Collateral Agent, Issuing Bank, and Swingline Lender.
- Key covenants within the agreement include limitations on dividends, such as those to Verra Mobility's common stock, which are not to exceed 5% of Verra Mobility's market capitalization in any fiscal year.
- The agreement also restricts investments, with those in Unrestricted Subsidiaries not to exceed the greater of $76,500,000 and 4.50% of Consolidated Total Assets.
- Verra Mobility outlined its position as a global leader in smart mobility with three key business segments: commercial services, government solutions, and parking solutions.
- The company detailed its strong financial profile with roughly $900M in TTM revenue, 95% recurring service revenue, and an adjusted EBITDA margin of 45%.
- Management highlighted its strategic capital allocation priorities including share buybacks, debt reduction, and selective M&A, while providing guidance for around 6% revenue growth moving forward.
- Verra Mobility outlined its position as a global leader in smart mobility, operating across government solutions, commercial services, and parking segments, with a strong focus on recurring revenue and market leadership.
- In the commercial segment, the company emphasized its integrated toll management solution, featuring proprietary connectivity with 54 toll authorities and established customized systems for major rental car fleets.
- The team highlighted the importance of its longstanding relationship with New York, noting the recent contract renewal and the plan to deploy state-of-the-art technology to expand red light camera installations by adding an intent for 450 new intersections to its nearly 3,000-camera network.
- Growth initiatives in non-New York markets were also discussed, driven by legislative expansion and an improved win rate, positioning the company for double-digit revenue acceleration in those regions.
- On May 17, 2025, the Board of Directors approved a stock repurchase program for up to $100 million of Class A common stock.
- The program permits repurchases through open market purchases, negotiated transactions, and accelerated share repurchase agreements until November 13, 2026, subject to market conditions and board discretion.
- Q1 2025 performance: Reported total revenue of $223.3 million , net income of $32.3 million , and $63.0 million in net cash provided from operations .
- Full-year guidance reaffirmed: Targets of revenue of $925–935 million, adjusted EBITDA of $410–420 million, adjusted EPS of $1.30–1.35 , and free cash flow of $175–185 million .
- Operational strength: Adjusted EPS increased 11% YoY despite economic challenges .
- Robust segment performance: Government Solutions and Commercial Services excelled with new contracts, strong product sales—including promising developments in the NYC automated enforcement program —and ongoing contract negotiations with NYCDOT .
- Verra Mobility Corporation was identified by the NYC Department of Transportation as the vendor to manage the city’s automated enforcement camera safety programs, with an expected five-year term following the current contract's expiration in December 2025.
- The role includes managing red-light, speed, and bus lane enforcement cameras, as well as cameras enforcing weight limits on the Brooklyn-Queens Expressway, with contract negotiations set to commence soon.