Verra Mobility loses Avis Budget contract; cuts FY 2026 revenue guidance to ~$985M-$995M

VERRA MOBILITY Corp

Termination notice from Avis Budget effective September 2026; customer represented >10% of total revenue.
Revised FY2026 guidance: Revenue $985M-$995M, Adj EBITDA $380M-$385M, Adj EPS $1.19-$1.25.
Expects annualized Commercial Services revenue reduction ~$135M-$145M; segment profit reduction ~$120M-$125M before cost cuts.
Company is reviewing contractual rights, intellectual property, and confidential information.
Taking immediate cost-reduction actions to adapt operations and position for growth.

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