Earnings ·
Verra Mobility reports Q3 revenue of $258.9M, appoints interim CFO as Jon Newhard takes over as CEO
VRRMVERRA MOBILITY Corp
Verra Mobility reported third-quarter 2026 total revenue of $258.9 million and net income of $40.4 million, or $0.27 per diluted share. Adjusted EBITDA was $103.9 million with a 40% margin, while free cash flow reached $89.4 million. The company recorded $64.0 million in goodwill and $40.4 million in intangible asset impairments within its Parking Solutions segment during the first nine months of 2026. Leadership changes include Jon Newhard becoming President and CEO effective November 1, 2026, succeeding Interim CEO Jon Keyser, while Matthew Kvarda was appointed Interim CFO to replace Craig Conti. Verra Mobility also terminated its contract with Avis Budget Group effective January 30, 2027, due to reduced fleet volumes and less favorable terms. The company reaffirmed its full-year 2026 guidance for revenue between $945 million and $965 million. Verra Mobility operates in the smart mobility technology sector, providing automated tolling, traffic safety solutions, and parking management services.