Verra Mobility reported third-quarter revenue of $258.9 million, down 1% from a year earlier, as growth in Government Solutions was offset by a sharp decline in Commercial Services. Net income and adjusted earnings per share also edged lower. The company reaffirmed its 2026 financial guidance and named Matthew Kvarda interim chief financial officer amid pending leadership transitions.
Key details
- Revenue: Total revenue was $258.9 million, compared with $261.9 million in the third quarter of 2025. Service revenue also fell 1%.
- Different trends across segments: Government Solutions revenue grew 13%, while Commercial Services revenue declined 14%.
- Profit and earnings per share: Net income was $40.4 million, or $0.27 per diluted share, versus $46.8 million, or $0.29 per share, a year earlier. Verra attributed the decrease primarily to lower revenue and margins. Adjusted EPS was $0.36, compared with $0.37.
- Cash flow: Net cash provided by operations was $114.5 million.
- Government Solutions bookings: The segment had a record bookings quarter, excluding the quarter in which Verra booked the renewal of its New York City Department of Transportation contract.
- 2026 outlook: Verra reaffirmed the guidance it provided on August 5. The results announcement did not restate the guidance figures.
- Finance leadership: The board appointed Matthew Kvarda as interim CFO.
- Earnings communications: Verra did not hold a third-quarter earnings call because of pending leadership transitions. It expects to resume its usual quarterly calls with its fourth-quarter and full-year 2026 results. Supplemental investor materials were posted on the company’s investor-relations website.
The quarter showed a divergence between Verra’s two main businesses: Government Solutions grew and booked strongly, while the larger company’s overall revenue and earnings were lower year over year. The CFO appointment is interim, and the company has said its customary earnings calls will resume with its next annual-results update.