VERRA MOBILITY Corp

For the period ended Mar 31, 2024. Filed May 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

VRRM$2.06-3.3%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations and Comprehensive Income

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME

	Three Months Ended March 31,
(In thousands, except per share data)	2024	2023
Service revenue	$202,721	$184,698
Product sales	7,009	7,205
Total revenue	209,730	191,903
Cost of service revenue, excluding depreciation and amortization	4,305	4,230
Cost of product sales	5,286	5,383
Operating expenses	70,640	61,843
Selling, general and administrative expenses	48,171	40,013
Depreciation, amortization and (gain) loss on disposal of assets, net	26,975	30,333
Total costs and expenses	155,377	141,802
Income from operations	54,353	50,101
Interest expense, net	19,635	22,687
Change in fair value of private placement warrants	—	14,601
(Gain) loss on interest rate swap	(396)	2,798
Loss on extinguishment of debt	595	1,349
Other income, net	(4,453)	(3,756)
Total other expenses	15,381	37,679
Income before income taxes	38,972	12,422
Income tax provision	9,823	7,845
Net income	$29,149	$4,577
Other comprehensive loss:
Change in foreign currency translation adjustment	(3,260)	(90)
Total comprehensive income	$25,889	$4,487
Net income per share:
Basic	$0.18	$0.03
Diluted	$0.17	$0.03
Weighted average shares outstanding:
Basic	166,241	149,165
Diluted	168,726	153,129

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.