Verra Mobility Corp Stock Price, News & Analysis

Verra Mobility (NASDAQ: VRRM) has partnered with Onondaga County, New York, to implement an extensive school bus stop arm safety program. The initiative will equip over 500 school buses across six school districts with advanced camera technology to document and report vehicles illegally passing stopped school buses.

The program covers more than 20,000 students and 40 schools, involving districts including Baldwinsville, East Syracuse Minoa, Fabius-Pompey, Jamesville-Dewitt, Liverpool, and North Syracuse. The technology features AI integration and is designed to operate in extreme weather conditions.

Historical data shows that 98% of drivers who receive violations don't repeat the offense, and programs have achieved over 50% reduction in citations. The program will be self-funded through citation revenues, with no upfront costs to the county or school districts. Implementation is planned for the 2025/2026 school year, with a 30-day public awareness campaign preceding citation issuance.

Verra Mobility (NASDAQ: VRRM) has scheduled its fourth quarter 2024 earnings conference call for February 27, 2025, at 5:00 p.m. ET, following the market close. CEO David Roberts and CFO Craig Conti will host the call to discuss the financial results for the quarter ended December 31, 2024.

Investors and analysts can access the live webcast through the company's Investor Relations website at ir.verramobility.com. Interested participants need to register to receive dial-in numbers and a unique PIN to join the call. A replay of the call and archived webcast will be available in the 'News & Events' section of the company's Investor Relations website.

Verra Mobility (NASDAQ: VRRM) has released its second electric vehicle consumer perceptions report, revealing significant insights about EV adoption in the United States. According to the survey of 2,000 Americans aged 25+, 47% plan to purchase an EV within 5 years, with 21% planning to do so in the next 1-2 years. Currently, only 7% of respondents own an EV.

Key findings show that 51% would purchase an EV if cost wasn't a factor. Range anxiety and charging station availability remain top concerns, with 46% citing charging infrastructure as their biggest worry. The survey also revealed that 73% wouldn't know how to charge an EV rental car, and 70% would consider renting an EV as a trial before purchasing.

Regarding the impact of recent events, 31% are more likely to purchase an EV compared to 2023, while 24% are less likely, and 46% remained unchanged. The survey aligns with municipal expectations, as 48% of city technology leaders expect EVs to constitute the majority of personal vehicles within 10 years.

Verra Mobility (NASDAQ: VRRM) has been named to the GovTech 100 list for the fifth consecutive year in 2025, marking a significant achievement in the government technology sector. This recognition, awarded by Government Technology magazine, highlights companies demonstrating growth and leadership in providing technology solutions to local and state government agencies across the United States.

The company expanded its presence in Florida and California last year, implementing pioneering speed, school zone, and school bus safety programs. As executive vice president Jon Baldwin notes, this recognition reinforces their commitment to developing innovative technologies for government partners.

The GovTech 100, now in its 10th year, serves as a platform for validating innovation in the government technology market. According to e.Republic President Dustin Haisler, the market shows significant potential for growth, particularly with the emergence of exponential technologies and evolving behaviors. This presents opportunities for Verra Mobility to further expand its partnerships with local governments in delivering automated enforcement and school safety systems.

Verra Mobility (NASDAQ: VRRM) announced that its President and CEO David Roberts, along with CFO Craig Conti, will participate in a fireside chat at the UBS Global Technology and AI Conference. The presentation is scheduled for Tuesday, December 3, 2024, at 2:15 PM MT (4:15 PM ET).

Verra Mobility (NASDAQ: VRRM) has released new proprietary data highlighting a surge in traffic infractions during the Thanksgiving weekend. Over the past five years (2019-2023), the Wednesday before Thanksgiving recorded the highest number of red-light violations, with more than 50,000 incidents in 2023. Thanksgiving Day saw the most speeding violations for the past two years (2022 and 2023), totaling over 150,000 in 2023. The data, collected from hundreds of communities in 21 states, shows a consistent increase in red-light violations per site since 2020, while speeding violations per site have shown a slow downward trend since 2021. AAA estimates that 49.1 million Americans will drive to their Thanksgiving destinations this year, and the National Safety Council projects 507 road fatalities during the holiday period. Verra Mobility aims to raise awareness of the dangers of distracted and reckless driving and encourages drivers to prioritize road safety.

Verra Mobility (NASDAQ: VRRM) has been named to the Fortune 100 Fastest-Growing Companies list for the second consecutive year, ranking 56th in 2024. The recognition is based on three-year performance metrics including revenue growth, profits, and stock returns. The company, which provides smart mobility technology solutions, joins a prestigious group of global companies with a combined market capitalization of $6.7 trillion.

The company delivers technology solutions for transportation safety and efficiency, serving commercial fleets, rental car companies, cities, school districts, universities, and parking operators. CEO David Roberts highlighted this achievement as evidence of their strong market position and team performance worldwide.

Verra Mobility (NASDAQ: VRRM) reported strong Q3 2024 results with total revenue of $225.6 million, up 7% year-over-year, and net income of $34.7 million. The company's Commercial Services segment grew 11%, while Government Solutions increased by 7%. Net cash from operations reached $108.8 million, and Adjusted EBITDA was $104.7 million with a 46% margin. The company reaffirmed its full-year guidance for Total Revenue, Adjusted EBITDA, and Adjusted EPS while increasing Adjusted Free Cash Flow guidance to the upper end of the range. The company also continued its share repurchase program, with $48.5 million remaining available.

Verra Mobility (NASDAQ: VRRM) has launched the 'Zero in on School Bus Safety Toolkit' for National School Bus Safety Week (October 21-25). This initiative aims to raise awareness about school bus safety and combat the alarming increase in drivers illegally passing stopped school buses. The National Association of State Directors of Pupil Transportation Services reported 45.2 million violations last school year, up from 43.5 million the previous year.

The toolkit includes free resources such as social media posts, statistics, and digital collateral to promote safer school transportation. Verra Mobility's school bus stop arm program uses cameras to detect and record vehicles illegally passing stopped buses. The company reports that 98% of drivers issued a violation do not repeat the behavior, with some programs seeing up to a 70% reduction in citations throughout the school year.