Verra Mobility (VRRM) Tops Q4 EPS by 1c, Revenues Beat

Verra Mobility (NASDAQ: VRRM) reported Q4 EPS of $0.06, $0.01 better than the analyst estimate of $0.05. Revenue for the quarter came in at $112.46 million versus the consensus estimate of $108.83 million.

"We are pleased with our execution throughout the year and ended 2019 on a strong note with a solid quarter. We were able to exceed expectations across our key metrics and showed investors that our diversified product portfolio can support an attractive combination of growth and profitability at scale," said David Roberts, Chief Executive Officer, Verra Mobility. "The strength of our core business and our longer-term smart city initiatives give us confidence in our ability to maintain momentum throughout 2020 and support our vision to be the global leader in smart transportation."

Fourth Quarter 2019 Financial Highlights

• Revenue: Total revenue for the fourth quarter of 2019 was $112.5 million, up 18.2% compared to $95.1 million for the fourth quarter of 2018. Within total revenue, service revenue was $104.8 million and product revenue contributed $7.6 million.
• Net income (loss): Net income for the fourth quarter of 2019 was $9.2 million, or $0.06 per share, based on 163.9 million diluted weighted average shares outstanding. Net loss for the comparable 2018 period was $38.0 million, or $0.27 loss per share, based on 140.7 million diluted weighted average shares outstanding.
• Adjusted EBITDA: Adjusted EBITDA was $59.6 million for the fourth quarter of 2019, up 26.0% compared to $47.3 million in the fourth quarter of 2018.

For earnings history and earnings-related data on Verra Mobility (VRRM) click here.

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