Business
Verra Mobility Announces Third Quarter 2025 Financial Results
Total revenue of $261.9 million Net income of $46.8 million Net cash provided from operations of $77.7 million New York City Department of Transportation
About this update from Verra Mobility Corporation
[{"type":"text","content":"\n Total revenue of $261.9 million\n Net income of $46.8 million\n Net cash provided from operations of $77.7 million\n New York City Department of Transportation began expansion of the red-light program through the execution of a change order to the existing contract\n Stock repurchase approval expansion\n Revising 2025 full year guidance\n \n \n MESA, Ariz., Oct. 29, 2025 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the third quarter ended September 30, 2025.\n \n \n \n \n \n \n \n \"We delivered a strong third quarter with all key financial measures ahead of our internal expectations,\" said David Roberts, President and CEO, Verra Mobility. \"Driven primarily by the New York City red-light expansion change order, the Company generated 16 percent revenue growth compared to the third quarter of 2024. Based on our strong year-to-date performance and our outlook for the fourth quarter, we are increasing Full Year 2025 revenue guidance and reaffirming all other guidance measures.\"\n \n Third Quarter 2025 Financial Highlights\n \n \n \n Revenue: Total revenue for the third quarter of 2025 was $261.9 million, an increase of 16% compared to $225.6 million for the third quarter of 2024. Service revenue growth was 12%, driven by 19% growth in our Government Solutions segment and 7% growth from our Commercial Services segment. Government Solutions service revenue growth was driven primarily by the New York City Department of Transportation (\"NYCDOT\") red-light expansion program, as well as the expansion of bus lane and school bus stop arm enforcement programs, and the growth in Commercial Services revenue was due to increases in product adoption, tolling activity, and our European operations. Parking Solutions service revenue increased by $0.5 million compared to the third quarter of 2024, as increased revenue from our software as a service (\"SaaS\") product offerings and professional services revenue was offset by a decrease in subscription services revenue related to parking management solutions.\n \n Net income and Earnings Per Share (EPS): Net income for the third quarter of 2025 was $46.8 million, or $0.29 per share, based on 161.9 million diluted weighted average shares outstanding. Net income for the comparable 2...