Announcing Second Quarter 2023 Financial Results

This week, Verra Mobility announced the financial results for the second quarter of 2023, which ended June 30, 2023. We continued the strong momentum from the first quarter and delivered outstanding results. Highlights from the second quarter 2023 earnings announcement include:

• $204 million total revenue in the second quarter, an increase of 9% compared to the second quarter of 2022
• 12% growth in service revenue from the second quarter of last year
• $0.29 adjusted EPS for the quarter, compared to $0.27 per share for the second quarter of 2022
• $95 million Adjusted EBITDA, which represents a 7% year-over-year growth 

The primary growth drivers for the quarter included an exceptionally strong start to the spring and summer travel season and a continued demand for automated enforcement technology to improve road safety.

In the second quarter earnings call, David Roberts, CEO of Verra Mobility, discussed the various factors indicating the strength of the U.S. travel sector, which is favorable to the Commercial Services business. He also highlighted new opportunities for the Government Solutions business to position the company to deliver more automated safety solutions, including recent legislative actions in Florida, Colorado and Connecticut.

To read about the latest financial and corporate performance and to listen to a replay of the second quarter 2023 earnings call hosted by CEO David Roberts and CFO Craig Conti, please visit our investor relations website.

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