Verra Mobility Corporation · NASDAQ:VRRM
Verra Mobility — Credit Suisse Investor Conference 2020
20 slides from Verra Mobility's conference presentation, Dec 1, 2020
Slide 1: Credit Suisse Investor Conference December 1, 2020
Credit Suisse Investor Conference December 1, 2020 For the Quarter Ended September 30, 2020 Exhibit 99.1
Slide 2: Forward-looking statements
Forward-looking statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,”
Slide 3: Verra Mobility: Safe. Smart. Connected.
Verra Mobility SAFE. SMART. CONNECTED. A global leader in smart transportation, we work alongside our customers to relentlessly develop customized technology solutions to solve complex transportation challenges. Who we are Building safer cities by installing, maintaining and managing leading technol
Slide 4: We operate in two business segments
We operate in two business segments Who we are Commercial Services Government Solutions 1, What we do The Commercial Services segment generates revenue by providing fully outsourced tolling and violations management and title and registration services to our customers through integrated technologies
Slide 5: Commercial Services: tolling, violations, title and registration
Toll Management Violations Title and Registration Rental fleet toll collection and management, reducing in-house administrative burdens while providing convenience to the driver – daily or flat fee Commercial fleet toll collection and management driving value for customers Manage toll, parking and p
Slide 6: Government Solutions: safety cameras
Red-Light Safety Cameras Speed Safety Cameras Stop-Arm Safety Cameras Bus Lane Cameras Capture and process images and video of vehicles running red lights Capture and process images and video of vehicles exceeding speed limits Capture and process images and video of vehicles illegally passing school
Slide 7: Strong Pro Forma Revenue
Strong Pro Forma Revenue Strong revenue and profitability create beneficial cash flow Proven financial performance $333 $349 $389 Services CAGR: 10% Adj. EBITDA CAGR 15% ($ in millions) 53% 48% 54% Net-Debt Leverage Ratio Highly Reoccurring Revenue 54% Basis of Presentation: Verra Mobility made two
Slide 8: Q3 Results by Segment – Commercial Services
For the Quarter Ended September 30, 2020 Q3 Results by Segment – Commercial Services Revenue of $44.2M in Q3 decreased 43.1% from the same quarter in the prior year Adjusted EBITDA of $31.0M in the quarter decreased $20.0M or 39.3% from the same period of the prior year Two Non-recurring items In Oc
Slide 9: Q3 Results by Segment – Government Solutions
For the Quarter Ended September 30, 2020 Q3 Results by Segment – Government Solutions Adj. EBITDA & Margin % Revenue & YoY Growth Government Solutions Commentary Government Solutions Revenue of $52.8M in Q3 increased 4.2% from the same quarter in the prior year Service Revenue improved by $5.7M. Dur
Slide 10: What to expect for Q4 2020
For the Quarter Ended September 30, 2020 What to expect for Q4 2020 Forecasting revenue and profitability in these uncertain times is very difficult and we won’t provide specific guidance but can discuss some current trends. Total Service Revenue for Q3 2020 was $83.0 million. We believe Q4 2020 sho
Slide 11: Appendix
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Slide 12: Adj. Pro Forma Revenue Reconciliation 2016 – 2018
Verra Mobility Adj. Pro Forma Revenue Reconciliation 2016 – 2018 Unaudited ($ in millions) 2016 2017 2018 * Verra Mobility (Pre-HTA, Pre-EPC) Adj. Revenue $233.4 $232.4 $370.1 HTA Adj. Revenue 88.3 103.7 15.8 EPC Reported Revenue 11.1 12.6 3.0 Verra Mobility Adj. Pro Forma Revenue $332.8 $348.7 $388
Slide 13: Adj. Pro Forma Revenue Reconciliation 2016 – 2018 (detail)
Verra Mobility Adj. Pro Forma Revenue Reconciliation 2016 – 2018 Unaudited ($ in millions) 2016 2017 2018 Verra Mobility (Pre-HTA, Pre-EPC) Reported Services Revenue $212.5 $228.2 $365.1 Adjustments: Non-cash Amortization of Contract Incentive 1.8 0.3 0.0 Sunshine State Tag Agency, Inc. Pre-acquisit
Slide 14: Adj. Pro Forma EBITDA Reconciliation 2016 – 2018
Verra Mobility Adj. Pro Forma EBITDA Reconciliation 2016 – 2018 Unaudited ($ in millions) 2016 2017 2018 * Verra Mobility (Pre-HTA, Pre-EPC) Adj. EBITDA $87.1 $97.9 $197.6 HTA Adj. EBITDA 67.4 80.9 10.7 EPC Adj. EBITDA 4.0 5.0 1.2 Verra Mobility Adj. Pro Forma EBITDA $158.5 $183.8 $209.5 Verra Mobil
Slide 15: Verra Mobility (Pre-HTA, Pre-EPC) Adj. EBITDA Reconciliation
Verra Mobility (Pre-HTA, Pre-EPC) Adj. EBITDA Reconciliation 2016 – 2018 Unaudited ($ in millions) 2016 2017 2018 Net Income $29.0 $19.5 ($58.4) Definitional Adjustments: Depreciation and amortization 33.8 45.7 103.3 Interest expense, net 2.7 21.7 69.6 Income taxes 18.7 (29.4) (16.2) Total definitio
Slide 16: HTA Adj. EBITDA Reconciliation 2015 – 2017
HTA Adj. EBITDA Reconciliation 2015 – 2017 HTA Unaudited ($ in millions) 2015 2016 2017 Net Income $48.6 $60.7 $67.6 Definitional Adjustments: Depreciation and amortization 0.4 1.4 2.1 Interest expense, net (0.0) 0.0 0.1 Income taxes 0.3 0.3 0.4 Total definitional adjustments $0.7 $1.7 $2.6 Reported
Slide 17: EPC Adj. EBITDA Reconciliation 2015 – 2017
EPC Adj. EBITDA Reconciliation 2015 – 2017 EPC Unaudited ($ in millions) 2015 2016 2017 Net Income $2.9 $2.3 $3.6 Definitional Adjustments: Depreciation and amortization 0.0 0.0 0.0 Interest expense, net (0.1) (0.0) (0.0) Income taxes 0.8 0.4 1.0 Total definitional adjustments $0.8 $0.4 $1.0 Reporte
Slide 18: Verra Mobility Quarterly Results 2019 – 2020
Verra Mobility Quarterly Results 2019 – 2020 Q3 Unaudited ($ in millions) Q1 2019 Q2 2019 Q3 2019 Q4 2019 Full Year 2019 Q1 2020 Q2 2020 Q3 2020 TTM Q3 2020 Service revenue $98.1 $103.1 $110.8 $104.8 $416.7 $99.5 $62.8 $83.0 $350.1 Product sales 0.4 6.5 17.5 7.6 32.0 17.2 17.0 13.9 55.8 Total revenu
Slide 19: Segment Results of Operations 2019 - 2020
Segment Results of Operations 2019 - 2020 Q3 Commercial Services Unaudited ($ in millions) Full Year 2019 Q1 2020 Q2 2020 Q3 2020 TTM Q3 2020 Segment Total Revenue Commercial Services $276.5 $61.2 $27.3 $44.2 $200.8 Segment Adj EBITDA Commercial Services $175.4 $33.6 $7.3 $31.0 $114.1 Unaudited ($ i
Slide 20: Thank You
Thank You http://ir.verramobility.com/
Verra Mobility — Credit Suisse Investor Conference 2020 on 6ix