secwatch.observer — SEC 8-K summary
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Issuer:     VERRA MOBILITY Corp (VRRM)
CIK:        0001682745
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000950170-24-052116
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verra Mobility Q1 revenue $209.7M (+9% YoY); net income $29.1M; raises full-year guidance
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- Revenue $209.7M (+9% YoY); net income $29.1M vs $4.6M; adjusted EPS $0.27 vs $0.26.
- Commercial Services rev +12% to $95.9M; Government Solutions +10% to $94.2M; Parking Solutions -3% to $19.7M.
- Adjusted EBITDA $92.8M (44% margin) vs $87.9M (46% margin) YoY.
- Operating cash flow $34.3M; refinanced Term Loan to SOFR+2.75%, no quarterly principal payments.
- Increased FY2024 guidance; PlusPass litigation resolved with $31.5M accrual paid in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682745/000095017024052116/0000950170-24-052116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682745/000095017024052116/vrrm-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-052116

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer