VERRA MOBILITY Business Summary

Verra Mobility Corp (VRRM) is a leading provider of smart mobility technology solutions, operating primarily through a recurring service-based revenue model driven by transaction fees and long-term subscriptions. The company is organized into three core segments: Commercial Services, which manages automated tolling and violation processing for major rental car companies and large fleets; Government Solutions, which provides photo enforcement systems for red-light, speed, and bus lane safety; and Parking Solutions (T2 Systems), offering end-to-end parking management software and hardware. As of March 2026, the company maintains a dominant market position in North America, recently securing a landmark $998 million, five-year contract with the New York City Department of Transportation. Verra Mobility competes directly with Conduent Transportation, Kapsch TrafficCom, Sensys Gatso, and TransCore, distinguishing itself through its massive scale—processing over 250 million transactions annually—and deep integration with government agencies and fleet operators. The company is led by President and CEO David Roberts, who has headed the organization since 2018 and previously served as CEO of American Traffic Solutions (ATS), the entity from which Verra Mobility evolved. The executive team includes CFO Craig Conti, CTO Jason Rivera, and EVP of Commercial Services Stacey Moser, who was appointed in July 2025 to spearhead operational excellence in fleet management. Verra Mobility traces its origins to ATS, founded in 2001 by James E. 'Jim' Tuton, before being acquired by Platinum Equity in 2017 and subsequently going public via a SPAC merger in 2018. The company is overseen by a board chaired by Patrick J. Byrne and includes notable members such as former FAA Administrator Michael Huerta. Major institutional investors, including BlackRock, Vanguard, and T. Rowe Price, hold significant stakes, reflecting the company's status as a stabilized, high-growth infrastructure technology play.