Verra Mobility Q4 rev $211M (+13%), FY rev $817M (+10%); GAAP net income down on $31.5M legal accrual

VERRA MOBILITY Corp

2023-FY EPS reported $0.36 revenue$103,570,000

Q4 revenue $211.0M (+13% YoY); Q4 adj EBITDA $91.3M vs $83.6M.
FY 2023 revenue $817.3M (+10%); adj EBITDA $371.5M (+9.7%).
GAAP net income $57.0M ($0.36) vs $92.5M ($0.50), hit by $31.5M PlusPass litigation accrual.
Commercial Services rev +16%, Government Solutions +11% (profit down on write-down), Parking +13%.
New $100M share repurchase program; cash from operations $206.1M; $136.3M cash on hand.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERRA MOBILITY Corp reported the quarter and fiscal year ended December 31, 2023 results: revenue $817.3 million, net income $57.0 million.

Period: the quarter and fiscal year ended December 31, 2023
Revenue: $817.3 million
Net income: $57.0 million
Result: reported results

Exact text from the filing

Report on Form 8-K. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Verra Mobility Announces Fourth Quarter and Full Year 2023 Financial Results • Full year 2023 revenue of $817.3 million • Full year 2023 net income of $57.0 million • Full year 2023 cash flows from operations of $206.1 million MESA, Ariz., February 29, 2024 /PRNewswire/ – Verra Mobility

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Source: SEC EDGAR

accession 0000950170-24-023081

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