Welcome to our dedicated page for Verra Mobility news (Ticker: VRRM), a resource for investors and traders seeking the latest updates and insights on Verra Mobility stock.
Verra Mobility Corporation (NASDAQ: VRRM) is a leader in smart mobility solutions, specializing in transportation safety technologies, automated tolling systems, and data-driven urban mobility platforms. This page aggregates official company news and press releases, providing stakeholders with timely updates on strategic developments.
Access critical information including earnings announcements, technology partnerships, and regulatory milestones. Investors and industry observers will find updates on VRRM's Commercial Services, Government Solutions, and Parking Innovations segments, all essential for understanding its role in modernizing transportation infrastructure.
Content spans product launches, acquisition activity, and safety technology advancements, curated to support informed analysis. Bookmark this page for streamlined access to Verra Mobility's latest progress in connected vehicle ecosystems and traffic management solutions.
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.
Verra Mobility (NASDAQ: VRRM) has been approved by the San Francisco Municipal Transportation Agency (SFMTA) Board of Directors to implement California's first automated speed safety program in San Francisco. The program involves 33 speed camera locations and is expected to be fully operational by early 2025.
This initiative is part of Assembly Bill 645, which authorizes six California cities to pilot camera systems for speed enforcement. San Francisco is the first to complete its procurement process and select a vendor. The program aims to reduce speeding, the leading cause of serious injuries in the city.
Verra Mobility will partner with Marinship Development, a Bay Area minority business enterprise, for on-the-ground construction and installation of cameras. The project has received support from local safety advocates, including Walk San Francisco and the San Francisco Bicycle Coalition.
Verra Mobility (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, has announced its schedule for the third quarter 2024 earnings call. The company will report its financial results for the quarter ended September 30, 2024, after market close on October 31, 2024.
CEO David Roberts and CFO Craig Conti will host a conference call and live webcast for investors and analysts at 5:00 p.m. ET on October 31, 2024. To join the call, participants can dial 1-800-717-1738 (U.S. toll-free) or 1-646-307-1865 (International). A live webcast will be available on the company's Investor Relations website. An audio replay will be accessible until November 14, 2024, and an archived webcast will be available in the 'News & Events' section of Verra Mobility's Investor Relations website.
Verra Mobility (NASDAQ: VRRM) conducted a survey of 2,000 Americans who own or lease vehicles from 2019 or newer, exploring attitudes towards connected vehicle features. Key findings include:
- 51% find the idea of a vehicle as a 'digital wallet' appealing
- 54% would enable this feature if available
- 59% are familiar with the term 'connected vehicle'
- 62% are aware of connected vehicle services available in their vehicle
- 49% currently use at least one connected vehicle service
- 40% have paid for or renewed a subscription for such services
The survey also revealed that 57% of Americans consider connected vehicle services a reason to spend more on a vehicle, and 70% prefer not to connect their smartphone to enable digital services. The U.S. is projected to have over 400 million connected cars in operation by 2025.
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