Verra Mobility Corporation announced strong financial results for the first quarter ended March 31, 2025, with all key financial measures exceeding internal expectations. Total revenue grew 6.4% year-over-year to $223.3 million, Adjusted EBITDA was $100.0 million, and Adjusted EPS reached $0.30.
The company generated $63.0 million in net cash from operating activities, and its Net Debt decreased to $934.9 million, bringing the Net Leverage ratio to 2.3x. Verra Mobility reaffirmed its full-year 2025 financial guidance, acknowledging potential for results to trend towards the lower end of ranges due to economic uncertainty and travel demand.
On March 31, 2025, the New York City Department of Transportation (NYCDOT) identified Verra Mobility as the vendor to manage its automated enforcement camera safety programs for an expected five-year period after the current contract expires in December 2025. Contract negotiations are ongoing for this program, which represents a material portion of the company's revenue.
The final settlement of the Accelerated Share Repurchase (ASR) agreement, initiated in December 2024, occurred on March 3, 2025. Verra Mobility received an additional 685,934 shares, completing the repurchase of 4.5 million shares for approximately $112.7 million under the previously authorized program.
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