Verra Mobility Celebrates 5-Year Anniversary on Nasdaq

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Oct 18, 2023, 09:15 ET

MESA, Ariz., Oct. 18, 2023 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, celebrates its five-year anniversary as a publicly traded company.

"This is a significant milestone in our incredible journey to become a leader in smart mobility solutions," said David Roberts, president and CEO, Verra Mobility. "Our core values, shared purpose and the Verra Mobility operating system have all been instrumental in driving continued growth and profitability."

Verra Mobility went public in October 2018, and the Company has since grown into new markets and expanded geographically.

Verra Mobility strengthened its portfolio of automated safety enforcement solutions for cities and government customers with the acquisition of Redflex in 2021. It also expanded the Company's offerings into Europe and Australia. In December 2021, the Company entered the parking solutions market with the acquisition of T2 Systems, a leading provider of parking hardware, software and services for universities, municipalities and parking operators.

Today, Verra Mobility's approximately 1,600 employees serve more than 2,400 customers in 11 countries, helping to improve fleet operations and enhance urban mobility. The Company has deployed more than 10,000 automated camera-based systems for red-light, speed management and school-bus stop arm enforcement programs, helping to improve safety and promote healthier communities.

Verra Mobility also provides tolling and violations management solutions and title and registration services for fleets with nearly 6 million vehicles managed by the Company's offerings.

The Company's Parking Solutions business segment's SaaS and hardware offerings provide thousands of universities, municipalities and parking operators with customer relationship management, parking permit management, enforcements and collections and analytics and reporting.

"We recognize and appreciate each of our employees around the world for their commitment and their passion," said Mr. Roberts. "We are grateful to all of our customers and partners and look forward to continuing to serve them at their highest point of need."

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, Asia and Australia. For more information, please visit www.verramobility.com.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Verra Mobility's plans, objectives, expectations, beliefs and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. The forward-looking statements herein represent the judgment of the Verra Mobility, as of the date of this release, and Verra Mobility disclaims any intent or obligation to update forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. This press release should be read in conjunction with the information included in Verra Mobility's other press releases, reports and other filings with the SEC and on the SEC website, www.sec.gov. Understanding the information contained in these filings is important in order to fully understand Verra Mobility's reported financial results and our business outlook for future periods. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements.

Additional Information

We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com.

We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts.