olivLaw · US equity research
Verra Mobility Corp VRRM
Transportation Services · SIC 4700 · Vertical: Transportation Services (SIC 4700)
Verra Mobility provides smart mobility solutions covering toll and violations management, title and registration, automated photo enforcement and parking management, mainly in the United States. Revenue reached 979.1 million USD in fiscal 2025, while the second quarter of 2026 brought a net loss, a revised fiscal 2026 outlook and a change of chief executive.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Verra Mobility Corp (VRRM) stock was 2.48 USD (−6.77% on the day), with market capitalisation 377.0 m USD, P/E 10.4 on diluted EPS of 0.24 USD over the last 12 months, beta 0.55, 52-week range 2.48–23.19 USD. Latest reported quarter (Q3 2026): revenue of 28.3 m USD (−20.7% YoY), net income of 40.4 m USD (−13.8% YoY), diluted EPS 0.27 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 31.0
- weak (30–45)
- Bollinger (20, 2)
- 2.56 – 3.33
- below the lower band · %B -0.10 · band width 26.1%
- SMA 50 / 200
- 3.32 / 9.22
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.15 / -0.13
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −13.6% | −2.0% | −11.6 pp | — |
| 3 months | −55.8% | −2.2% | −53.6 pp | — |
| 6 months | −82.7% | +4.3% | −86.9 pp | — |
| Year to date | −88.9% | +10.6% | −99.5 pp | — |
| 1 year | −89.2% | +10.5% | −99.7 pp | −4.5% |
| 3 years | −87.6% | +73.7% | −161.2 pp | +22.3% |
| 5 years | −84.6% | +61.7% | −146.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 32.4 m | 31.4 m | 33.2 m | 35.7 m | 32.7 m | 27.3 m | 25.8 m | 28.3 m |
| SG&A | 52.6 m | 51.5 m | 48.5 m | 47.8 m | 67.6 m | 40.9 m | 44.0 m | 43.4 m |
| Operating income | -43.4 m | 57.4 m | 63.2 m | 74.8 m | 43.0 m | 51.8 m | -32.8 m | 65.6 m |
| Depreciation & amortisation | 27.5 m | 27.5 m | 29.2 m ≈ | 28.5 m ≈ | 28.9 m | 29.2 m | 28.5 m ≈ | 26.2 m ≈ |
| Interest expense | 16.7 m | 16.6 m | 16.6 m | 16.4 m | 15.0 m | 15.4 m | 15.5 m | 15.0 m |
| Pre-tax income | -55.9 m | 44.8 m | 52.6 m | 64.7 m | 32.9 m | 40.5 m | -42.2 m | 55.3 m |
| Income tax | 10.7 m | 12.5 m | 14.0 m | 17.8 m | 14.0 m | 13.7 m | 6.0 m | 14.9 m |
| Net income | -66.7 m | 32.3 m | 38.6 m | 46.8 m | 18.9 m | 26.7 m | -48.2 m | 40.4 m |
| Diluted EPS | -0.40 ≈ | 0.20 | 0.24 | 0.29 | 0.12 ≈ | 0.17 | -0.32 | 0.27 |
| Operating cash flow | 40.5 m | 63.0 m | 75.1 m ≈ | 77.7 m ≈ | 40.0 m | 40.8 m | 56.4 m ≈ | 114.5 m ≈ |
| Capex | 18.8 m | 21.2 m | 34.9 m ≈ | 28.8 m ≈ | 34.2 m | 31.2 m | 23.8 m ≈ | 25.1 m ≈ |
| Share repurchases | 148.5 m | 0 | 0 ≈ | 0 ≈ | 133.4 m | 50.2 m | 1.3 m ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 25-quarter history (min 13.0, median 47.9, max 753.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | ⚠ 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 370.1 m | 448.7 m | 13.3 m | 40.0 m | 94.3 m | 103.6 m | 116.0 m | 133.0 m |
| Revenue YoY | unavailable | +21.2% | — | +200.5% | +135.9% | +9.8% | +12.0% | +14.6% |
| Net income | -51.5 m | 17.1 m | -4.6 m | 41.4 m | 92.5 m | 57.0 m | 31.4 m | 136.6 m |
| Net income YoY | −3,714.2% | unavailable | — | unavailable | +123.1% | −38.3% | −44.8% | +334.5% |
| Diluted EPS | -0.59 | 0.11 | -0.03 | 0.25 | 0.50 | 0.36 | 0.19 | 0.85 |
| Diluted EPS YoY | unavailable | unavailable | — | unavailable | +100.0% | −28.0% | −47.2% | +347.4% |
| net % | -13.9% | 3.8% | -34.4% | 103.7% | 98.0% | 55.0% | 27.1% | 102.8% |
| Free cash flow | 22.7 m | 104.1 m | 22.6 m | 168.2 m | 170.2 m | 149.1 m | 152.8 m | 136.7 m |
The series breaks before 2020: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 65.3 m USD
- Financial debt
- 1.0 bn USD
- Net debt
- 962.8 m USD
- Equity
- 293.0 m USD
- Total assets
- 1.6 bn USD
- Debt / equity
- 3.51x
- Current ratio
- 2.09x
- ROE
- 49.0%
- ROA
- 8.4%
- FCF margin
- 102.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 13.3 m | 40.0 m | 94.3 m | 103.6 m | 116.0 m | 133.0 m | SEC (XBRL)· 24 Feb 2026verified |
| SG&A | 89.7 m | 123.4 m | 163.1 m | 198.6 m | 195.1 m | 215.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Operating income | 37.8 m | 111.9 m | 164.7 m | 188.8 m | 136.0 m | 238.4 m | SEC (XBRL)· 24 Feb 2026verified |
| Depreciation & amortisation | 116.6 m | 116.8 m | 138.7 m | 113.1 m | 108.5 m | 114.1 m | SEC (XBRL)· 24 Feb 2026verified |
| EBITDA | 154.4 m ≈ | 228.6 m ≈ | 303.4 m ≈ | 301.9 m ≈ | 244.5 m ≈ | 352.5 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Interest expense | 40.9 m | 44.9 m | 69.4 m | 86.7 m | 73.9 m | 64.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | 853.0 k | 67.9 m | 127.1 m | 87.0 m | 79.1 m | 195.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Income tax | 5.4 m | 26.5 m | 34.6 m | 30.0 m | 47.7 m | 58.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | -4.6 m | 41.4 m | 92.5 m | 57.0 m | 31.4 m | 136.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | -0.03 | 0.25 | 0.50 | 0.36 | 0.19 | 0.85 | SEC (XBRL)· 24 Feb 2026verified |
| Weighted average diluted shares | 161.6 m | 163.8 m | 159.0 m | 160.0 m | 167.7 m | 161.3 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 120.3 m | 101.3 m | 105.2 m | 136.3 m | 77.6 m | 65.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Receivables | 168.8 m | 161.0 m | 163.8 m | 197.8 m | 206.5 m | 234.3 m | SEC (XBRL)· 24 Feb 2026verified |
| Inventories | 113.0 k | 12.1 m | 19.3 m | 18.0 m | 15.5 m | 20.7 m | SEC (XBRL)· 24 Feb 2026verified |
| Current assets | 328.0 m | 348.1 m | 362.6 m | 439.5 m | 394.0 m | 440.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Property, plant & equipment, net | 70.3 m | 96.1 m | 109.8 m | 123.2 m | 141.6 m | 208.7 m | SEC (XBRL)· 24 Feb 2026verified |
| Goodwill | 586.4 m | 838.9 m | 833.5 m | 835.8 m | 735.6 m | 741.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Intangibles (excl. goodwill) | 342.1 m | 487.3 m | 377.4 m | 301.0 m | 232.3 m | 168.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 1.4 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 24 Feb 2026verified |
| Accounts payable | 34.5 m | 67.6 m | 79.9 m | 78.7 m | 91.2 m | 101.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Short-term debt | 9.1 m | 37.0 m | 21.9 m | 9.0 m | 0 | 6.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | 832.9 m | 1.2 bn | 1.2 bn | 1.0 bn | 1.0 bn | 1.0 bn | SEC (XBRL)· 24 Feb 2026verified |
| Current liabilities | 64.0 m | 175.2 m | 186.8 m | 214.8 m | 199.7 m | 210.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 1.1 bn | 1.6 bn | 1.5 bn | 1.4 bn | 1.3 bn | 1.4 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 315.6 m † | 260.0 m † | 231.1 m † | 421.5 m † | 265.1 m † | 293.0 m † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 46.9 m | 193.2 m | 218.3 m | 206.1 m | 223.6 m | 255.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Capex | 24.3 m | 25.0 m | 48.2 m | 57.0 m | 70.9 m | 119.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Free cash flow | 22.6 m ≈ | 168.2 m ≈ | 170.2 m ≈ | 149.1 m ≈ | 152.8 m ≈ | 136.7 m ≈ | SEC (XBRL)· 24 Feb 2026derived |
| Investing cash flow | -24.2 m | -476.0 m | -48.6 m | -58.3 m | -69.7 m | -118.8 m | SEC (XBRL)· 24 Feb 2026verified |
| Financing cash flow | -34.0 m | 268.7 m | -164.9 m | -117.8 m | -211.4 m | -151.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | — | 100.0 m | 125.1 m | 100.0 m | 200.0 m | 133.4 m | SEC (XBRL)· 24 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 76 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 377.0 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet23
- Valuation92
- Quality80
- Growth100
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.88 – 65.64 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)25.13 – 65.64 (Mid 37.14)WACC 6.2% · starting FCFF 188.5 m USD · terminal value share of EV 84%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA8.73 – 23.33 (Mid 13.46)5 companies used · median multiple 12.2x · quartiles 9.2x – 18.5xBKNG, EXPE, GXO, LIND, XPO
- Peers: P/E2.88 – 11.38 (Mid 4.24)7 companies used · median multiple 17.8x · quartiles 12.1x – 47.8xBKNG, EXPE, GATX, GXO, HAFN, MMYT, XPO
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 76/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.9% | 56 (vs peers) | 11% |
| Net margin · Quality | 33.2% | 100 (vs peers) | 7% |
| FCF conversion · Quality | 363.1% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 12.1% | 100 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 19.3% | 100 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 3.7x | 0 (vs peers) | 11% |
| Interest coverage · Balance sheet | 2.1x | 9 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 2.1x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 10.4x | 78 (vs peers) | 11% |
| EV/EBITDA · Valuation | 5.3x | 100 (vs peers) | 11% |
| FCF yield · Valuation | 36.4% | 100 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 49.1% | 100 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet23/100 · 3/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality80/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation92/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
VERRA MOBILITY CORPORATION (VRRM). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 133.0 m USD in 2025; YoY growth 14.6%; net margin 33.2%; ROE 11.3%; net debt/EBITDA 3.7x.
The estimated value range is 8.73–23.33 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 13.46 USD, the price of 2.48 USD leaves a potential of 442.7% (value / price − 1) and a margin of safety of 81.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 76/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 33.2%
- FCF conversion: 363.1%
- Revenue CAGR 3Y: 12.1%
- EPS CAGR 3Y: 19.3%
- Current ratio: 2.1x
- P/E (TTM): 10.4x
- EV/EBITDA: 5.3x
- FCF yield: 36.4%
- Shareholder yield (distributions): 49.1%
- The price is below the estimated value range
What contradicts it
- Net debt / EBITDA: 3.7x
- Interest coverage: 2.1x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Payout ratio (FCF).
Versus the vertical median
Transportation Services (SIC 4700) · same industry (4-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BKNGBooking Holdings Inc. | 115.8 bn | 0.9 | — | — | +13.4% | −21% / +25% |
| EXPEExpedia Group, Inc. | 32.7 bn | 17.8 | 199.1% | 13.0% | +7.6% | +12% / +110% |
| XPOXPO, Inc. | 22.3 bn | 45.0 | 26.5% | 5.7% | +1.1% | +35% / +122% |
| GATXGATX Corporation | 6.7 bn | 17.6 | 14.2% | 17.7% | +9.8% | +19% / +75% |
| GXOGXO Logistics, Inc. | 6.5 bn | 50.5 | 4.4% | 1.0% | +12.5% | +12% / +1% |
| HAFNHafnia Limited | 4.9 bn | 6.5 | 34.5% | 27.0% | +7.4% | +64% / unavailable |
| RXORxo, Inc. | 4.7 bn | — | -5.7% | -1.3% | +26.2% | +115% / +35% |
| LINDLindblad Expeditions Holdings, Inc. | 2.2 bn | 8,279.1 | — | 0.7% | +19.6% | +179% / +327% |
| TOURTuniu Corp | 1.5 bn | 473.0 | 3.0% | 5.4% | +17.5% | −35% / −47% |
| SPCEVirgin Galactic Holdings, Inc. | 380.5 m | — | -75.1% | -23,867.4% | −78.1% | −35% / −94% |
| VRRMVerra Mobility Corporation | 377.0 m | 10.4 | 11.3% | 33.2% | +14.6% | −89% / −88% |
| PALProficient Auto Logistics, Inc. | 82.5 m | — | -13.0% | — | unavailable | −64% / unavailable |
| NTRPNextTrip, Inc. | 18.1 m | — | -296.7% | -319.8% | +641.0% | −68% / −68% |
| YTRAMagna Holdings Ltd. | — | — | -2.0% | -1.3% | +85.2% | −50% / −43% |
| MMYTMakeMyTrip Ltd | — | 61.1 | 8.2% | 9.7% | +25.0% | −29% / +20% |
1- and 3-year price returns: for VRRM from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.65 Total return -34% · Per year -34% | 2.91 Total return 17% · Per year 17% | 4.36 Total return 76% · Per year 76% |
| 3 years | 1.86 Total return -25% · Per year -9% | 3.65 Total return 47% · Per year 14% | 5.99 Total return 141% · Per year 34% |
| 5 years | 2.09 Total return -16% · Per year -3% | 4.59 Total return 85% · Per year 13% | 8.21 Total return 231% · Per year 27% |
- Exit P/E± 0.91
- Net margin± 0.64
- Annual revenue growth± 0.49
- Annual dilution± 0.05
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
In brief
Verra Mobility provides smart mobility solutions covering toll and violations management, title and registration, automated photo enforcement and parking management, mainly in the United States. Revenue reached 979.1 million USD in fiscal 2025, while the second quarter of 2026 brought a net loss, a revised fiscal 2026 outlook and a change of chief executive.
SWOT
Strengths
- Recurring revenue from long-term contracts and a solid position in fleet tolling.
- Long-standing relationships with major rental car companies and government agencies in several states.
- Ability to generate meaningful operating cash flow even in weaker quarters.
Weaknesses
- High revenue concentration in a few large customers, including a municipal program in New York.
- Substantial indebtedness that limits financial flexibility during a slowdown.
- Goodwill and intangible impairments in the parking segment point to performance problems.
Opportunities
- Expansion of camera safety programs in cities and states that still permit them.
- Growth in software features for parking projects and subscription-based services.
- New government contracts if demand for road safety programs grows.
Threats
- Legislative bans on automated enforcement, such as those in Canadian provinces.
- Pressure from fleet customers demanding better terms or building their own solutions.
- Autonomous vehicles could reduce the traffic violations the company earns revenue from.
Risks
- Dependence on a few large customershigh
A small number of customers account for a significant share of revenue, and losing or reducing demand from them could materially affect results.
- New York City contracthigh
The new contract has materially different terms, including service levels and liquidated damages, and failing to perform could have serious effects.
- Regulation of camera enforcementhigh
Restrictions at local, state or national level could shut existing programs and limit growth.
- Indebtednessmedium
Debt levels are high, and rising interest costs or slower demand could reduce the capacity to repay.
- Cybersecurity and personal datamedium
Data on drivers and vehicle owners is exposed to security risks and to privacy laws in several countries.
Investment thesis
What would need to be true (bull case)
- If recurring tolling and government program revenue keeps growing, the company could sustain high profitability and reduce debt.
- The extension of contracts with major rental car companies shows that key customer relationships remain intact, even on less favorable terms.
- Selection for a large speed safety program in Los Angeles could open new revenue sources in the government segment.
What would break the thesis
- The net loss in the second quarter of 2026 and the significant impairments suggest some assets have lost value, and this could continue.
- Renewed contracts with large customers on weaker terms could compress margins over the long term.
- If legislation tightens in several states, growth in the government segment could slow or stall.
What to watch
- Appointment of a permanent chief executive and organizational changes2026
- Development of the contract with the third large Commercial Services customerNext 12 months
- Revised fiscal 2026 guidance and results of the next quarterQ3 2026
- Effect of impairment charges on Parking Solutions marginsNext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
The business
The company supplies integrated, data-driven solutions to commercial fleets such as rental car companies, to local governments and to parking operators, operating in the United States, Australia, Europe and Canada. Its model relies on long-term contracts and recurring service revenue, with a smaller share of equipment sales. It runs three segments, each with its own dynamics.
Segments
Commercial Services
This segment manages tolls and violations for rental car companies and large fleets, along with title and registration services. It generated the largest share of revenue in 2025, about 435.8 million USD. The segment is sensitive to travel volumes and to customer concentration.
Government Solutions
This segment provides photo enforcement systems for speed, red-light and school bus violations to states, municipalities and agencies. It generated about 460.7 million USD in 2025, the largest segment, but depends on legislation that permits this type of enforcement.
Parking Solutions
This segment offers software, transaction processing and hardware for parking at universities, municipalities and hospitals. It is the smallest segment and recorded goodwill and intangible impairments in the first half of 2026, pointing to pressure on this business line.
Market context
The company operates in automated road safety, tolling, commercial fleet management and parking. These markets are fragmented and changing quickly, and autonomous vehicles could reduce the number of traffic violations. Demand depends on travel volumes, the expansion of toll roads and public policy on photo enforcement.
The regulatory environment remains decisive: bans or restrictions on automated enforcement, as in the Canadian province of Ontario, can take programs out of operation. Government contracts bring steady revenue, but with longer payment cycles and termination-for-convenience clauses.
Trends
- Expansion of electronic toll roadstailwind
The number of electronically tolled roads in the United States and Europe is growing, which supports volume in tolling. Growth in this infrastructure can support the Commercial Services segment.
- Legislative limits on camerasheadwind
Some states and provinces restrict or ban automated enforcement by camera, which could reduce Government Solutions revenue.
- Consolidation of fleet customersheadwind
Rental car companies are renegotiating contracts on terms less favorable to the company, including fleet volume modulation rights.
- Artificial intelligence in operationsmixed
The company applies AI more widely in products and processes, which could lower costs but brings legal and regulatory risks.
Competitive position
No single competitor covers all three segments, and competition varies by market. Fleet customers may build internal solutions, and new technology providers may enter with different financial models.
In automated camera enforcement the company faces other vendors of speed and red-light cameras, while in parking it faces a varied group of software and hardware competitors with no dominant leader identified in the sources.
- In-house systems of fleet customers
Rental car companies and large fleets could build their own solutions, which could reduce demand for outside services.
- Other road enforcement camera vendors
Competes mainly in speed, red-light and school bus camera programs.
- Toll and violations technology providers
New entrants with different financial models could compete for tolling and violations contracts.
- Parking software and hardware providers
A varied group of competitors covers parking systems, payments and permit management.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report30 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report30 Oct 2026
- Current report30 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report (amendment)05 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report02 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report29 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report (amendment)23 Jul 2026Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Verra Mobility Corp · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Verra Mobility Corp · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Verra Mobility Corp · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.