Financial Results from Q1 2024
Verra Mobility announced its financial results for the first quarter of 2024, which ended on March 31, 2024. The company continued its strong momentum from 2023 with revenue, adjusted EBITDA and earnings exceeding internal expectations for the first quarter.
Financial highlights for the first quarter 2024 include:
On the quarterly earnings call David Roberts, CEO, and Craig Conti, CFO, discussed the drivers behind the outstanding first quarter results. The Commercial Services business continues to benefit from strong travel trends in the U.S. with TSA throughput volume about 106% of the first quarter of 2023. The team also delivered impressive growth in the fleet management business.
The Government Solutions business saw existing customers expand their programs and new cities adopting automated photo enforcement to improve road safety.
David Roberts provided an update on the deployment of the Verra Mobility Operating System (vmOS), which consists of standardized mechanisms and tools to drive continuous improvement and growth. ?
Read more about our financial performance from the first quarter 2024 and to listen to a replay of the earnings call by visiting the Verra Mobility?investor relations website.