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Jun 30, 2023
Verra Mobility Q2 2023 Earnings Report
Verra Mobility reported strong revenue growth and free cash flow generation in the second quarter of 2023.
Key Takeaways
Verra Mobility announced strong second-quarter results, with total revenue reaching $204.5 million and net income of $19.1 million. The company is increasing its 2023 financial guidance based on year-to-date results and outlook for the remainder of the year.
Total revenue was $204.5 million, a 9% increase compared to Q2 2022.
Net income reached $19.1 million, or $0.13 per share.
Adjusted EPS was $0.29 per share, compared to $0.27 per share in Q2 2022.
Adjusted EBITDA was $95.0 million, with a margin of 46%.
Verra Mobility
Verra Mobility
Verra Mobility Revenue by Segment
Revenue by Segment
Commercial Services Revenue
CapyFin.comGovernment Solutions Revenue
CapyFin.comParking Solutions Revenue
CapyFin.com Forward Guidance
Verra Mobility is increasing its full year 2023 guidance.
Positive Outlook
- Total Revenue $800 million to $810 million
- Adjusted EBITDA Upper end of range
- Adjusted EPS $1.00 to $1.10
- Free Cash Flow Upper end of range
Revenue & Expenses
Visualization of income flow from segment revenue to net income