Verra Mobility Corporation outlines its 2025 business, risk profile, and operations in its annual report. The company provides smart mobility technology across Commercial Services, Government Solutions, and Parking Solutions, with 2025 revenues concentrated in Commercial Services at $435.8 million (about 45% of total) and Government Solutions at $460.7 million (about 47%). Parking Solutions contributed $82.6 million (about 8%).
Government Solutions is heavily tied to New York City’s automated traffic enforcement program, with NYCDOT representing 17.9% of total 2025 revenue and now operating under a new five‑year contract effective January 1, 2026 on materially different terms. Commercial Services depends on three major fleet customers that together generated 34.8% of total 2025 revenue. The report highlights extensive regulatory, technology, AI, cybersecurity, and data privacy risks, along with reliance on specialized third‑party providers and substantial indebtedness. Verra Mobility employed 1,901 people as of December 31, 2025 and operates across the U.S., Europe, Canada, and Australia.
Verra Mobility reported strong full-year 2025 growth, with revenue of $979.1 million, up 11% from 2024, and net income rising to $136.6 million from $31.4 million, helped by prior-year goodwill impairment not recurring. Adjusted EBITDA increased to $415.9 million with a 42% margin, while Free Cash Flow was $136.7 million, down from $152.8 million due to higher capital spending.
Fourth-quarter 2025 revenue was $257.9 million, up 16%, and net income was $18.9 million versus a prior-year loss. The company entered a new five-year $998 million contract with New York City’s DOT and repurchased $133.4 million of stock in Q4. For 2026, it guides to revenue of $1,020–$1,030 million, Adjusted EBITDA of $405–$415 million, Adjusted EPS of $1.32–$1.38, and Free Cash Flow of $150–$160 million, with Net Debt of $971.8 million and Net Leverage of 2.3x at year-end 2025.
T. Rowe Price Associates, Inc. filed an amended Schedule 13G reporting a significant ownership position in Verra Mobility Corp common stock. As of 12/31/2025, it reported beneficial ownership of 9,612,440 shares, representing 6.0% of the outstanding class.
The firm reported sole voting power over 9,539,701 shares and sole dispositive power over 9,612,398 shares, with no shared voting or dispositive power. It states the securities were acquired and are held in the ordinary course of business, not to change or influence control of Verra Mobility, and expressly denies beneficial ownership beyond this reporting capacity.
Verra Mobility (VRRM) reported insider equity activity by its Sr Vice President, T2 Systems. On 11/01/2025, restricted stock units vested and converted into Class A shares: 4,325 and 643 shares (code M). To cover taxes, the company withheld 1,269 and 188 shares at $23.21 per share (code F). Following these transactions, the officer directly owns 3,511 Class A shares.
Verra Mobility (VRRM) disclosed a Form 4 for its Chief Legal Officer showing a grant of 12,771 restricted stock units on October 30, 2025. Each RSU represents the right to receive one share of Class A common stock. The award carries a stated price of $0 for the derivative security and is held directly.
The RSUs vest in three equal annual installments beginning on September 19, 2026, with shares delivered on each settlement date. This filing reflects an equity compensation grant, not an open‑market purchase or sale.
Verra Mobility Corporation reported stronger Q3 results. Total revenue was $261.9 million, up from $225.6 million a year ago, driven by Government Solutions and higher product sales. Income from operations rose to $74.8 million from $63.9 million. Net income increased to $46.8 million with diluted EPS of $0.29 versus $0.21 last year as interest expense declined.
Cash and cash equivalents were $196.1 million as of September 30, 2025, compared with $77.6 million at year-end 2024. Operating cash flow for the first nine months was $215.8 million. Long-term debt, net, was $1.03 billion; the Revolver had $123.2 million available with no borrowings outstanding at quarter-end.
Customer concentration remains notable: NYCDOT represented 19.5% of Q3 revenue and 22.6% of accounts receivable. Subsequent to quarter-end, the company refinanced its term loan to mature on October 15, 2032 and amended the Revolver to $150.0 million maturing October 17, 2030. The Board also increased the share repurchase authorization to $250.0 million on October 23, 2025. Shares outstanding were 159,564,447 as of October 24, 2025.
Verra Mobility (VRRM) announced that its Board authorized an additional $150.0 million share repurchase, bringing the total available under its 2025 program to $250.0 million.
The company may repurchase Class A common stock from time to time until November 13, 2026 via open‑market and privately negotiated transactions, trading plans intended to qualify under Rule 10b5‑1, and accelerated share repurchase agreements, each as permitted by applicable rules. Repurchases are at the company’s discretion, subject to price, market conditions, legal requirements, and alternative uses of capital, and the program may be modified, suspended, or terminated at any time.
Verra Mobility also furnished a press release with financial results for the quarter ended September 30, 2025 and will host a webcast on October 29, 2025 at 5:00 p.m. ET to discuss third‑quarter results.
Verra Mobility Corporation entered two new credit agreements to refresh liquidity and extend debt maturities. The company amended and restated its asset‑based revolver with a $150 million senior secured facility (including a $35 million letter of credit sublimit) maturing on October 17, 2030, replacing a prior $125 million facility. An earlier maturity applies 91 days before April 15, 2029 if the $350 million 5.50% Senior Notes due 2029 remain outstanding. Pricing is SOFR + 1.25%–1.75% or base + 0.25%–0.75%, with unused fees of 0.375% or 0.250% based on usage. As of closing, there were no revolver borrowings and $3.74 million in letters of credit.
The company also refinanced its senior secured term loan, replacing approximately $688.8 million due in 2028 with a new loan of the same principal amount maturing on October 15, 2032. The term loan bears interest at SOFR + 2.00% or base + 1.00% (each 25 bps lower than before), amortizes 1.00% per year in equal quarterly installments starting March 31, 2026, and carries a 1.00% prepayment premium if refinanced with certain debt within six months. Both facilities include customary covenants and first‑lien security on substantially all assets.
Verra Mobility Corporation disclosed a new retention-focused compensation arrangement for its Executive Vice President and Chief Legal Officer, Jonathan Keyser. The Compensation Committee approved a one-time equity award of time-based restricted stock units with a grant date value of $300,000, expected to be granted on the second trading day after the filing of the company’s Form 10-Q for the quarter ended September 30, 2025. These RSUs will vest in three equal annual installments beginning on September 19, 2026, conditioned on his continued employment.
As part of the same arrangement, effective September 19, 2025, Mr. Keyser’s annual base salary was increased to $450,000, his target bonus under the annual incentive plan was raised to 75% of base salary, and his target long-term incentive award was increased to $1,000,000. The award is granted under the company’s Amended and Restated 2018 Equity Incentive Plan and was approved in consultation with an independent compensation consultant, reflecting the company’s retention goals and market-based adjustments.
Hiten M. Patel, identified as a Director and the Chief Accounting Officer of Verra Mobility Corporation (VRRM), reported insider transactions dated 08/09/2025 involving restricted stock units that convert into Class A common stock. The filing shows restricted stock units (RSUs) recorded in Table II and corresponding share movements in Table I: RSUs of 3,184 and 1,006 are listed as acquired/vested (transaction code M) and 1,347 and 425 shares were withheld to satisfy tax liabilities (transaction code F) at $23.49 per share.
The explanatory notes state the RSUs were originally granted on 08/09/2024 and vest in installments beginning 08/09/2025: one grant vests in two equal annual installments and the other vests in four equal annual installments. Each RSU represents a contingent right to receive one share of Class A common stock; vested RSUs will be delivered on settlement dates specified in the grant notes.