VERRA MOBILITY Corp
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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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.
Jun 30, 2024 · Filed Aug 8, 2024
VRRM$2.06-3.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (In thousands, except per share data) | 2024 | 2023 | 2024 | 2023 |
| Service revenue | $212,017 | $196,050 | $414,738 | $380,748 |
| Product sales | 10,409 | 8,411 | 17,418 | 15,616 |
| Total revenue | 222,426 | 204,461 | 432,156 | 396,364 |
| Cost of service revenue, excluding depreciation and amortization | 4,641 | 4,338 | 8,946 | 8,568 |
| Cost of product sales | 7,848 | 5,962 | 13,134 | 11,345 |
| Operating expenses | 74,903 | 65,657 | 145,543 | 127,500 |
| Selling, general and administrative expenses | 46,343 | 43,205 | 94,514 | 83,218 |
| Depreciation, amortization and (gain) loss on disposal of assets, net | 27,522 | 29,088 | 54,497 | 59,421 |
| Total costs and expenses | 161,257 | 148,250 | 316,634 | 290,052 |
| Income from operations | 61,169 | 56,211 | 115,522 | 106,312 |
| Interest expense, net | 18,845 | 22,771 | 38,480 | 45,458 |
| Change in fair value of private placement warrants | — | 10,918 | — | 25,519 |
| Gain on interest rate swap | (23) | (4,805) | (419) | (2,007) |
| Loss on extinguishment of debt | — | 209 | 595 | 1,558 |
| Other income, net | (5,245) | (4,512) | (9,698) | (8,268) |
| Total other expenses | 13,577 | 24,581 | 28,958 | 62,260 |
| Income before income taxes | 47,592 | 31,630 | 86,564 | 44,052 |
| Income tax provision | 13,369 | 12,522 | 23,192 | 20,367 |
| Net income | $34,223 | $19,108 | $63,372 | $23,685 |
| Other comprehensive income (loss): | ||||
| Change in foreign currency translation adjustment | 1,434 | 718 | (1,826) | 628 |
| Total comprehensive income | $35,657 | $19,826 | $61,546 | $24,313 |
| Net income per share: | ||||
| Basic | $0.21 | $0.13 | $0.38 | $0.16 |
| Diluted | $0.20 | $0.13 | $0.38 | $0.16 |
| Weighted average shares outstanding: | ||||
| Basic | 166,064 | 151,132 | 166,152 | 150,151 |
| Diluted | 168,615 | 152,590 | 168,670 | 151,586 |
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