VERRA MOBILITY Corp
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
VRRM$2.06-3.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations and Comprehensive Income
CONSOLIDATED STATEM ENTS OF OPERATIONS
AND COMPREHENSIVE INCOME
| For the Year Ended December 31, | |||
|---|---|---|---|
| (In thousands, except per share data) | 2023 | 2022 | 2021 |
| Service revenue | $783,595 | $695,218 | $492,846 |
| Product sales | 33,715 | 46,380 | 57,744 |
| Total revenue | 817,310 | 741,598 | 550,590 |
| Cost of service revenue, excluding depreciation and amortization | 18,232 | 16,330 | 5,337 |
| Cost of product sales | 25,231 | 30,932 | 29,809 |
| Operating expenses | 273,288 | 226,324 | 163,370 |
| Selling, general and administrative expenses | 198,550 | 163,133 | 123,407 |
| Depreciation, amortization and (gain) loss on disposal of assets, net | 113,195 | 140,174 | 116,801 |
| Total costs and expenses | 628,496 | 576,893 | 438,724 |
| Income from operations | 188,814 | 164,705 | 111,866 |
| Interest expense, net | 86,701 | 69,372 | 44,942 |
| Change in fair value of private placement warrants | 24,966 | (14,400) | 7,600 |
| Tax receivable agreement liability adjustment | (3,077) | (720) | (1,016) |
| Loss (gain) on interest rate swap | 817 | (996) | — |
| Loss (gain) on extinguishment of debt | 3,533 | (3,005) | 5,334 |
| Other income, net | (11,123) | (12,654) | (12,895) |
| Total other expenses | 101,817 | 37,597 | 43,965 |
| Income before income taxes | 86,997 | 127,108 | 67,901 |
| Income tax provision | 29,982 | 34,633 | 26,452 |
| Net income | $57,015 | $92,475 | $41,449 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation adjustment | 2,689 | (7,771) | (5,305) |
| Total comprehensive income | $59,704 | $84,704 | $36,144 |
| Net income per share: | |||
| Basic | $0.36 | $0.61 | $0.26 |
| Diluted | $0.36 | $0.50 | $0.25 |
| Weighted average shares outstanding: | |||
| Basic | 158,777 | 152,848 | 159,983 |
| Diluted | 160,017 | 159,026 | 163,778 |
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