Verra Mobility ( (VRRM) ) has released its Q4 earnings. Here is a breakdown of the information Verra Mobility presented to its investors.
Verra Mobility Corporation, a prominent player in the smart mobility technology sector, offers solutions that enhance transportation safety and efficiency globally. In its latest financial report, the company announced a full-year revenue of $879.2 million for 2024, with a net income of $31.4 million. The company also provided guidance for 2025, projecting revenue between $925 million to $935 million.
The fourth quarter of 2024 saw Verra Mobility generating $221.5 million in revenue, marking a 5% increase from the previous year. Despite a net loss of $66.7 million due to a goodwill impairment in the Parking Solutions segment, the company reported an adjusted EBITDA of $102 million, reflecting a strong operational performance. The Government Solutions segment showed significant growth with a 10% increase in revenue, driven by the expansion of various programs.
For the full year, Verra Mobility’s revenue grew by 8%, with notable contributions from the Commercial Services and Government Solutions segments. The company also executed share repurchases totaling $200 million and refinanced its term loan, reducing interest rates. Despite challenges in the Parking Solutions segment, the company’s strategic initiatives and financial metrics indicate a robust operational framework.
Looking ahead, Verra Mobility remains optimistic about its growth prospects, with management expecting continued strength in travel demand and government solutions. The company aims to achieve its 2026 revenue and adjusted EBITDA targets, supported by its strong business fundamentals and strategic initiatives.