Verra Mobility Q2 2020 Earnings Report
Key Takeaways
Verra Mobility reported a decrease in revenue for the second quarter of 2020, with a total revenue of $79.8 million, down 27.2% compared to the same period in 2019. The company experienced a net loss of $(15.4) million, or $(0.10) per share. However, the company still provided robust adjusted EBITDA and positive free cash flow.
Total revenue for the second quarter of 2020 was $79.8 million, down 27.2% compared to $109.6 million for the second quarter of 2019.
Net loss for the second quarter of 2020 was $(15.4) million, or $(0.10) per share.
Adjusted EBITDA was $27.6 million for the second quarter of 2020, compared to $59.7 million in the same period last year.
Commercial Services segment generated total revenue of $27.3 million, a decrease of 60% compared to the same period in 2019; Government Solutions segment generated total revenue of $52.5 million growing 27% over the same period in 2019.
Verra Mobility
Verra Mobility
Verra Mobility Revenue by Segment
Forward Guidance
Although the near-term business environment is uncertain, Verra Mobility believes its balanced product portfolio provides stability, and its longer-term growth initiatives give them confidence in their future as a global leader in smart transportation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income