Verra Mobility Class A Stock Earnings Reports

Verra Mobility delivered a solid start to 2026 with Q1 revenue of $224M in line with internal expectations and adjusted EBITDA/margins modestly ahead driven by stronger-than-expected NYC camera installations and lower bad debt. Government Solutions was the standout: approximately $13M of new bookings in Q1 and roughly $71M of bookings over the trailing 12 months, with healthy pipeline activity (notably school bus and California opportunities) and ongoing MOSAIC platform migrations expected to drive productivity and future margin expansion. Commercial Services revenue declined ~4% YoY largely from prior-period fleet management customer churn and a ~$2M nonrecurring accounting true-up; management expects mid-single-digit growth for CS for the full year as churn anniversaries pass and travel volumes remain resilient. Parking Solutions grew modestly with SaaS/subscription strength and improved margins. The company initiated a ~5% workforce reduction to capture ~$10M of annualized savings to be redeployed into strategic investments (AI, fleet, interoperability). Net debt ended near $1B with net leverage ~2.5x after ~$50M of Q1 share repurchases (cumulative $184M of $250M authorization). Management reaffirmed full-year 2026 guidance: revenue $1.02–1.03B, adjusted EBITDA $405–415M (margin ~40%), adjusted EPS $1.32–1.38, and free cash flow $150–160M; MOSAIC cost savings of roughly $10–15M are expected to materialize in 2027 and beyond.