VERRA MOBILITY Corp
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
VRRM$2.06-3.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| For the Year Ended December 31, | |||
|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | 2023 |
| Cash Flows from Operating Activities: | |||
| Net income | $136,633 | $31,448 | $57,015 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 114,080 | 108,525 | 113,067 |
| Amortization of deferred financing costs and discounts | 3,445 | 4,106 | 4,679 |
| Change in fair value of private placement warrants | — | — | 24,966 |
| Tax receivable agreement liability adjustment | 687 | (257) | (3,077) |
| Change in fair value of interest rate swap | — | 1,316 | (320) |
| Loss on extinguishment of debt | 1,335 | 1,745 | 3,533 |
| Gain on lease modification | (1,517) | — | — |
| Credit loss expense | 22,986 | 13,002 | 9,054 |
| Deferred income taxes | 19,346 | (10,012) | (27,037) |
| Stock-based compensation | 25,176 | 22,958 | 17,476 |
| Uncertain tax position reserve release | (2,444) | — | — |
| Goodwill impairment | — | 97,076 | — |
| Impairment of long-lived assets and ROU assets | 9,352 | 170 | 4,280 |
| Other | 2,789 | 1,403 | 359 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (49,646) | (22,664) | (42,459) |
| Unbilled receivables | (7,257) | (11,987) | (6,252) |
| Inventory | 3,403 | 1,917 | 1,148 |
| Prepaid expenses and other assets | (10,350) | 5,926 | (2,161) |
| Deferred revenue | (3,188) | 1,231 | (2,400) |
| Accounts payable and other current liabilities | (1,773) | (16,425) | 50,512 |
| Other liabilities | (7,255) | (5,836) | 3,718 |
| Net cash provided by operating activities | 255,802 | 223,642 | 206,101 |
| Cash Flows from Investing Activities: | |||
| Cash receipts (payments) for interest rate swap | — | 822 | (1,137) |
| Purchase of intellectual property | — | — | (500) |
| Purchases of installation and service parts and property and equipment | (119,094) | (70,856) | (56,985) |
| Cash proceeds from the sale of assets | 305 | 314 | 332 |
| Net cash used in investing activities | (118,789) | (69,720) | (58,290) |
| Cash Flows from Financing Activities: | |||
| Borrowings on long-term debt | 29,791 | 36,591 | — |
| Repayment of long-term debt | (38,277) | (45,610) | (181,519) |
| Payment of debt issuance costs | (2,793) | (716) | (459) |
| Proceeds from the exercise of warrants | — | — | 161,408 |
| Share repurchases and retirement | (133,447) | (199,979) | (100,000) |
| Proceeds from exercise of stock options | 1,087 | 4,288 | 5,919 |
| Payment of employee tax withholding related to RSUs and PSUs vesting | (7,331) | (6,001) | (3,142) |
| Net cash used in financing activities | (150,970) | (211,427) | (117,793) |
| Effect of exchange rate changes on cash and cash equivalents | 1,121 | (1,063) | 589 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (12,836) | (58,568) | 30,607 |
| Cash, cash equivalents and restricted cash - beginning of period | 81,154 | 139,722 | 109,115 |
| Cash, cash equivalents and restricted cash - end of period | $68,318 | $81,154 | $139,722 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| For the Year Ended December 31, | |||
|---|---|---|---|
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets | 2025 | 2024 | 2023 |
| Cash and cash equivalents | $65,272 | $77,560 | $136,309 |
| Restricted cash | 3,046 | 3,594 | 3,413 |
| Total cash, cash equivalents, and restricted cash | $68,318 | $81,154 | $139,722 |
| Supplemental cash flow information: | |||
|---|---|---|---|
| Interest paid | $65,031 | $76,203 | $86,113 |
| Income taxes paid, net of refunds | 47,146 | 50,199 | 54,002 |
| Supplemental non-cash information: | |||
| Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at year-end | 10,543 | 8,911 | 5,120 |
| Accrued excise tax payable on net share repurchases | 1,265 | 1,673 | — |
| Operating lease assets obtained in exchange for new operating lease liabilities | 29,782 | 3,994 | — |
| Operating lease asset and operating lease liability released for modified lease | 15,034 | — | — |
| Earn-out shares issued to PE Greenlight Holdings, LLC | — | — | 36,575 |
| Increase in additional paid-in capital due to exercise of private placement warrants | — | — | 49,032 |
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