Welcome to our dedicated page for Verra Mobility news (Ticker: VRRM), a resource for investors and traders seeking the latest updates and insights on Verra Mobility stock.
Verra Mobility Corporation (NASDAQ: VRRM) is a leader in smart mobility solutions, specializing in transportation safety technologies, automated tolling systems, and data-driven urban mobility platforms. This page aggregates official company news and press releases, providing stakeholders with timely updates on strategic developments.
Access critical information including earnings announcements, technology partnerships, and regulatory milestones. Investors and industry observers will find updates on VRRM's Commercial Services, Government Solutions, and Parking Innovations segments, all essential for understanding its role in modernizing transportation infrastructure.
Content spans product launches, acquisition activity, and safety technology advancements, curated to support informed analysis. Bookmark this page for streamlined access to Verra Mobility's latest progress in connected vehicle ecosystems and traffic management solutions.
Verra Mobility Corporation (NASDAQ: VRRM) has filed a Form 12b-25 with the SEC, indicating it cannot file its Form 10-K by the March 1, 2022 deadline due to accounting irregularities related to its Australian subsidiary, Redflex Holdings Limited. An investigation by the Audit Committee is underway regarding potential adjustments to previous financial statements. Despite this, the company expects 2021 revenues to exceed $540 million and adjusted EBITDA to exceed $260 million. The earnings release and investor call scheduled for February 28, 2022, are also delayed.
Verra Mobility (NASDAQ: VRRM) announced it will report its fourth quarter financial results for the year ended December 31, 2021, after market close on February 28, 2022. CEO David Roberts and CFO Tricia Chiodo will host a conference call to discuss these results at 5:00 p.m. ET on the same day. Interested investors can access the call by dialing the provided numbers or via a live webcast on the company's Investor Relations page. An audio replay will be available until March 14, 2022.
Verra Mobility (NASDAQ: VRRM) announced a three-year renewal of its photo enforcement contract with the New York City Department of Transportation. This renewal, effective February 7, 2022, expands the existing contract to include 100 additional red-light and 150 bus lane cameras, aimed at enhancing road safety. The deal also guarantees maintenance for cameras installed under a previous contract initiated in 2019, with negotiated price reductions. Verra Mobility's solutions support NYC's Vision Zero mission, promoting safer driving behaviors.
Verra Mobility (NASDAQ: VRRM) announced the appointment of Sarah Farrell to its Board of Directors, effective January 3, 2022. This decision comes after the resignation of Jacob Kotzubei on December 17, 2021. Farrell, a Partner at Inclusive Capital Partners, holds over 5% of the company's outstanding stock. Her experience in environmental, social, and governance initiatives, combined with her finance background, is seen as beneficial for the company. Verra Mobility focuses on smart mobility solutions globally, serving large commercial fleets and enhancing transportation safety.
Verra Mobility (NASDAQ: VRRM) has appointed Patrick Byrne as the new Chairman of the Board, succeeding Jacob Kotzubei, who resigned after PE Greenlight Holdings sold its remaining shares on December 10, 2021. Byrne has been with the Board since November 2020 and has previously held key roles at GE Digital and Fortive. His appointment is seen as a move to bolster the company's leadership as it aims to enhance urban mobility solutions globally. The company is focused on transforming transportation through advanced technology and is involved in toll management and safety initiatives across multiple regions.
Verra Mobility (NASDAQ: VRRM) has published its annual video showcasing the most egregious red-light runners of 2021, emphasizing the dangers of red-light running as a major traffic issue in America. The video includes incidents from Arizona, Florida, Louisiana, and North Carolina, highlighting reckless driving and distractions. In 2019, over 846 deaths were linked to red-light running crashes, with significant injury statistics reported. Verra Mobility advocates for using technology and safety camera systems to improve driver behavior and reduce traffic accidents.
On December 7, 2021, Verra Mobility (NASDAQ: VRRM) announced the pricing of a public offering of 8,207,821 shares of Class A Common Stock by a selling stockholder. The company will not receive proceeds from this sale, which is set for settlement on December 10, 2021. BofA Securities is the sole underwriter for this offering, which follows an automatic shelf registration statement filed with the SEC. The release emphasizes that this does not constitute an offer to sell securities unlawfully.
Verra Mobility announced a secondary offering of 8,207,821 shares of its Class A common stock by a principal shareholder, an affiliate of Platinum Equity. Importantly, Verra Mobility is not offering any shares nor will it receive proceeds from this offering. The offering will be managed solely by BofA Securities, which is acting as the sole underwriter. This offering was registered under an automatic shelf registration statement with the SEC. These developments indicate ongoing market activities surrounding the company's stock.
Verra Mobility (NASDAQ: VRRM) has completed its acquisition of T2 Systems for $347 million in a cash-free and debt-free transaction, with an additional up to $9 million related to an asset acquisition. T2 Systems specializes in parking management solutions and serves over 1,900 clients, generating nearly $80 million in revenue and approximately $21 million in adjusted EBITDA expected for 2021. This acquisition aims to enhance Verra Mobility's urban mobility solutions, as T2 will operate as a distinct business unit.
Verra Mobility (NASDAQ: VRRM) announced that its President and CEO, David Roberts, along with CFO Patricia Chiodo, will present at the Bank of America Securities 2021 Leveraged Finance Conference on November 30, 2021, at 3:00 p.m. EST. A live webcast will be available. Additionally, they will present at the Credit Suisse 25th Annual Technology Conference on December 1, 2021, at 12:30 p.m. EST. The webcasts and replays can be accessed on Verra Mobility's investor website.
