Verra Mobility ( (VRRM) ) has issued an announcement.
Verra Mobility announced its financial results for the fourth quarter and full year of 2024, reporting a full-year revenue of $879.2 million and net income of $31.4 million. The company experienced growth in its Commercial Services and Government Solutions segments, driven by increased travel demand and the expansion of automated traffic enforcement programs. However, the Parking Solutions segment faced challenges, with a decrease in revenue and profit due to an impairment loss. Despite these challenges, Verra Mobility maintains a positive outlook for 2025, expecting continued revenue growth and strong performance in its Government Solutions and Parking Solutions segments.
More about Verra Mobility
Verra Mobility Corporation is a leading provider of smart mobility technology solutions. The company operates in three segments: Commercial Services, Government Solutions, and Parking Solutions, offering services such as automated toll and violations management, automated safety solutions, and integrated parking software and hardware solutions. Its market focus includes rental car companies, municipalities, school districts, government agencies, and parking operators in the United States and Canada.
YTD Price Performance: 7.73%
Average Trading Volume: 1,035,597
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $4.27B
Learn more about VRRM stock on TipRanks’ Stock Analysis page.