Announcing Our Q2 2024 Financial Results
On August 8, Verra Mobility announced its financial results for the second quarter of 2024, which ended on June 30, 2024. We delivered another strong quarter with revenue, adjusted EBITDA and earnings in-line with our expectations. Our results were driven in large part by continued robust travel demand, which is expected to continue throughout the year and strong demand for automated photo enforcement.
Financial highlights for the second quarter 2024 include:
On the quarterly conference call, David Roberts, CEO, and Craig Conti, CFO, recognized the outstanding results from our Commercial Services business in response to durable domestic travel trends as well as the team’s strong performance with fleet management customers.
David and Craig also highlighted our Government Services business’ recurring service revenue, which grew 8 percent over the same period in 2023. Cities and school districts across the U.S are continuing to turn to automated enforcement technology to improve road safety. Also, T2 Systems drove mid-single digit growth in our SaaS product offerings, the key value driver for our parking business unit.
Visit our investor relations website to read more about our financial performance from the second quarter and to listen to a replay of the earnings call.