Verra Mobility Corporation · NASDAQ:VRRM
Verra Mobility — Q3 2022 Earnings Presentation
14 slides from Verra Mobility's earnings presentation, November 2022
Slide 1: Verra Mobility Q3 2022 Earnings Presentation
Earnings Overview Verra Mobility Q3 2022 Earnings Presentation For the Quarter Ended September 30, 2022
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: Executive Summary
Executive Summary Key Highlights Financial Highlights • Attractive macro trends and NYC camera installs continue to drive strong growth in Commercial Services and Government Solutions • Commercial Services - Q3 2022 results represent 11% revenue growth over Q3 2019 Q3 2022 Total Revenue • Government
Slide 4: Verra Mobility Consolidated Results
Verra Mobility Consolidated Results Total Revenue ($M) Revenue Mix by Business Segment $198 Core T2 Systems $22 Organic +8% $176 $162 3Q 2021 3Q 2022 Free Cash Flow ($M) Adjusted EBITDA ($M) Recurring Past-due NYC Collections Core T2 Systems $91 $84 $4 $54 Organic $87 $82 +6% Recurring $39 $30 +30%
Slide 5: Results by Segment – Commercial Services
Results by Segment – Commercial Services Total Revenue & YoY Growth Adjusted EBITDA & YoY Growth $86 $56 +11% $77 $51 +10% Q3 2021 Q3 2022 Q3 2021 Q3 2022 Robust travel demand and strong secular trends driving strong revenue growth & profitability 5
Slide 6: Results by Segment – Government Solutions
Results by Segment – Government Solutions Total Revenue & YoY Growth Adjusted EBITDA & YoY Growth $31 $30 $90 (1%) +6% $85 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3-2022 ($ in Millions) $ YoY Service Revenue $ 77.4 20% Product Revenue $ 12.3 (39%) Total Revenue $ 89.7 6% Revenue growth fueled by NYC School
Slide 7: Results by Segment – Parking Solutions
Results by Segment – Parking Solutions Total Revenue ($M) Adjusted EBITDA & Margins ($M) Service Revenue Product Revenue $25 $22 $19 19% $20 $18 $5 $4 $4 18% $15 16% NA 1 $10 $4 $7 $17 $14 $15 $3 $3 $5 $3 $3 $4 $0 1 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2021 1 1Q 2022 2Q 2022 3Q 2022 Parking Solutions
Slide 8: Strong Adjusted EPS and De-levering performance
Strong Adjusted EPS and De-levering performance Adjusted EPS Net Debt & Leverage $1,172 $1,152 $1,157 $1,187 4.3x $0.27 $0.27 $0.24 $0.22 3.8x 3.5x 3.5x 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Demonstrated post-pandemic earnings power and De-levering 8
Slide 9: 2022 Updated Financial Outlook
2022 Updated Financial Outlook Total Revenue ($M) Adjusted EBITDA ($M) ~$335 ~$740 $325 - $335 $720 - $740 Prior Current Prior Current Strong secular trends driving service Adjusted EBITDA margins consistent revenue growth…travel demand has with prior expectations remained robust through the 1st 9-
Slide 10: Appendix
Appendix 10
Slide 11: Verra Mobility Quarterly Results
Verra Mobility Quarterly Results 2020 - 2022 Unaudited ($ in millions) Full Year 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Full Year 2021 Q1 2022 Q2 2022 Q3 2022 Service revenue $336.3 $89.8 $116.4 $141.8 $144.8 $492.8 $161.1 $174.5 $180.6 Product sales 57.3 0.1 12.2 20.3 25.1 57.7 9.3 13.0 17.0 Total re
Slide 12: Verra Mobility Quarterly Results – Segment Results of Operations
Verra Mobility Quarterly Results Segment Results of Operations Commercial Services Unaudited ($ in millions) Full Year 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Full Year 2021 Q1 2022 Q2 2022 Q3 2022 Total Revenue Commercial Services $180.9 $45.7 $66.5 $77.3 $71.5 $260.9 $73.5 $84.9 $86.1 Segment Adj EBI
Slide 13: Verra Mobility Adj. Net Income and Adj. Diluted EPS Reconciliations
Verra Mobility Adj. Net Income and Adj. Diluted EPS Reconciliations (in $MM, except per share data) Q4 2021 Q1 2022 Q2 2022 Q3 2022 Net Income $ 19.1 $ 10.0 $ 29.6 $ 24.6 Amortization of intangibles 23.1 27.3 27.2 26.6 Transaction and other related expenses 3.8 0.2 0.3 3.0 Transformation expenses 0.
Slide 14: Thank You
Thank You http://ir.verramobility.com/