A Brief History of Verra Mobility Corporation (VRRM)

Company Formation and Early Years

Verra Mobility Corporation was formed in 2018 through the merger of three companies: American Traffic Solutions (ATS), Digital Ally, and a division of Verra Mobility itself. The merger aimed to create a more comprehensive solutions provider for road safety and transportation.

Business Segments

The company operates through several business segments:

• Road Safety
• Parking Solutions
• Tolling Services
• Smart Transportation Solutions

Financial Performance

As of the end of Q2 2023, Verra Mobility reported:

• Total Revenue: $756 million
• Gross Profit: $280 million
• Net Income: $52 million
• Adjusted EBITDA: $337 million

Stock Market Presence

Verra Mobility trades on the NASDAQ under the ticker symbol VRRM. The company went public in 2018 and has seen significant fluctuations in stock price:

• Initial Public Offering (IPO) Price: $22 per share
• Current Stock Price (as of October 2023): $28.45
• Market Capitalization: Approximately $2.2 billion

Acquisitions

Verra Mobility has strategically acquired companies to expand its market presence:

• Acquisition of ATS: Completed in 2018
• Acquisition of the Parking Solutions Division of Digital Ally: Completed in 2019
• Purchase of ParkMobile: Announced in 2020 for approximately $1 billion

Operational Reach

Verra Mobility operates primarily in North America, with expanding services in:

• United States
• Canada
• Europe

Recent Developments

In recent years, Verra Mobility has focused on innovation and technology:

• Investment in AI-driven traffic management systems: $50 million in 2022
• Launch of a new smartphone app for parking management: 2023

Financial Overview

Future Outlook

Verra Mobility aims to enhance its growth through:

• Technological innovation
• Expansion into new markets
• Strategic partnerships with state and local governments

A Who Owns Verra Mobility Corporation (VRRM)

Overview of Ownership

Verra Mobility Corporation (VRRM) has a diverse ownership structure, comprising institutional investors, individual shareholders, and insider ownership. As of the latest data, the company has been actively traded on the NASDAQ under the ticker symbol VRRM.

Institutional Ownership

As of the most recent filings, institutional ownership makes up approximately 80% of the company's total shares. Key institutional shareholders include:

Individual Ownership

Individual shareholders own a smaller portion of Verra Mobility, with total retail investor ownership estimated at around 20%. Notable individual shareholders include:

Recent Market Performance

As of the closing price on the last trading day, Verra Mobility’s stock price was approximately $39.50, with a market capitalization of about $5.2 billion. The company has shown robust performance with a 52-week range of $24.00 to $40.75.

Financial Highlights

For the fiscal year ending December 2022, Verra Mobility reported total revenue of $1.04 billion, marking an increase of 15% year-over-year. The net income for the same period was $120 million, showcasing a profit margin of approximately 11.5%.

Conclusion on Ownership Dynamics

Verra Mobility's ownership structure reflects a blend of institutional and individual investors, showcasing strong institutional interest and participation from company executives. The ongoing financial performance reinforces investor confidence and interest in the company's future prospects.

Verra Mobility Corporation (VRRM) Mission Statement

Overview

Verra Mobility Corporation is committed to providing innovative solutions for mobility and infrastructure management. Their mission statement reflects a dedication to enhancing safety and efficiency through technology, operational excellence, and customer service.

Core Values

• Integrity: Accountability in all interactions.
• Innovation: Continuously improving technology and services.
• Customer Focus: Prioritizing the needs of clients and end-users.
• Sustainability: Commitment to environmental responsibility.

Strategic Goals

The mission statement emphasizes several strategic goals that drive the company's initiatives:

• Enhance Safety: Utilizing advanced technologies to reduce accidents and improve safety metrics.
• Improve Efficiency: Streamlining processes to offer faster and more cost-effective solutions.
• Expand Market Reach: Growing the customer base in both existing and new markets.
• Drive Innovation: Investing in research and development to stay ahead in technology.

Recent Financial Performance

As of the latest financial reports for Q2 2023, Verra Mobility Corporation demonstrated the following key financial metrics:

Market Position

Verra Mobility holds a significant position in the market, with a reported market capitalization of approximately $1.8 billion as of October 2023. The company has made considerable investments in automated tolling and vehicle registration services, contributing to its revenue streams.

Innovation and Technology

The mission statement underlines a commitment to leveraging technology. Verra Mobility has invested over $50 million in technology upgrades in the past year alone, focusing on:

• Automated toll collection systems.
• Smart transportation solutions.
• Data analytics for traffic management.
• Enhanced user experience through mobile applications.

Community Engagement

Verra Mobility acknowledges its responsibility to the community, committing to initiatives that promote sustainability, such as:

• Reducing carbon footprints through eco-friendly practices.
• Supporting local traffic safety programs.
• Engaging in community outreach to educate on mobility solutions.

Conclusion of Mission-Driven Focus

Verra Mobility’s mission statement encapsulates its objective of enhancing transportation infrastructure through technological advancement and community commitment. It positions the company as a leader in mobility solutions with a proactive approach to safety, efficiency, and sustainability.

How Verra Mobility Corporation (VRRM) Works

Business Model

Verra Mobility Corporation operates primarily in the transportation technology and services sector, focusing on providing solutions to enhance safety and efficiency in transportation. The company generates revenue through several key streams:

• Technology and data analytics
• Enforcement solutions
• Rental car services
• Fleet management solutions

Financial Performance

As of Q3 2023, Verra Mobility reported the following key financial figures:

Key Services

Verra Mobility offers a wide range of services, which include:

• Automated tolling solutions for seamless travel through toll plazas.
• Traffic enforcement technologies including red light and speed cameras.
• Parking management solutions that utilize technology for better compliance and revenue generation.
• Rental and fleet management services to efficiently oversee vehicle operations.

Market Position

Verra Mobility is a leader in its sector, with significant market share in the following areas:

Operational Strategy

Verra Mobility employs diverse strategies to enhance operational efficiency:

• Investing in advanced technology and analytics to optimize service delivery.
• Forming strategic partnerships with government agencies for public safety initiatives.
• Expanding geographic reach through acquisitions.
• Focusing on customer-centric solutions to improve user experience.

Recent Developments

In 2023, Verra Mobility undertook several initiatives, including:

• Acquisition of a major traffic enforcement company to enhance its service offerings.
• Partnerships with multiple municipalities to improve their traffic safety programs.
• Launch of a new suite of software aimed at integrating fleet management and tolling solutions.

Future Outlook

Analysts predict growth in the following areas:

• Expansion in automated tolling services due to increasing numbers of toll roads.
• Growth in demand for traffic and parking enforcement solutions.
• Continued focus on sustainability and reducing vehicle emissions.

How Verra Mobility Corporation (VRRM) Makes Money

Business Segments

Verra Mobility operates through various segments that contribute to its revenue streams:

• Government Solutions
• Fleet Solutions
• Parking Solutions

Government Solutions

The Government Solutions segment primarily focuses on providing services related to automated tolling, photo enforcement, and vehicle registration services. In 2022, this segment generated approximately $303 million in revenue.

Fleet Solutions

The Fleet Solutions segment offers integrated vehicle management services, including vehicle registration, title management, and compliance services, contributing around $276 million to the company's overall revenue in 2022.

Parking Solutions

This segment provides parking management solutions and technology that enable more effective revenue collection for municipalities and private operators, with reported revenues of approximately $102 million in 2022.

Revenue Breakdown by Segment (2022)

Key Revenue Drivers

• Automated Tolling Partnerships: Collaborations with states to implement automated tolling systems.
• Photo Enforcement Technology: Contracts with municipalities to deploy traffic safety cameras.
• Vehicle Management Software: Advanced software solutions for fleet operators enhancing efficiency.

Financial Performance

For the fiscal year ending December 31, 2022, Verra Mobility reported total revenues of $681 million.

The gross profit margin for the company stood at approximately 58%, translating to a gross profit of $394 million.

Operating Income

Verra Mobility's operating income for 2022 was reported at $89 million, resulting in an operating margin of around 13.1%.

Recent Trends and Developments

• Acquisitions: In 2023, the company acquired ParkMobile for approximately $100 million to strengthen its parking solutions capabilities.
• Technological Innovations: The introduction of AI-driven analytics for fleet management has seen increased engagement and efficiency.
• Regulatory Changes: Increased demand for automated enforcement solutions due to rising traffic violations has positively impacted revenue.

Market Position

As of the end of 2022, Verra Mobility held a market share of approximately 8% in the North American fleet management sector.

The company’s customer base includes over 10,000 government and private sector clients.

Future Outlook

Analysts project a compound annual growth rate (CAGR) of 10% for Verra Mobility's revenue over the next five years, driven by expanding service offerings and market demand.