Verra Mobility Corporation Q2 FY2025 earnings call

• David noted strong second quarter with total revenue up 6% y-o-y, adjusted EPS up 10%. - Stacey Moser joined executive team to lead Commercial Services. - Macro environment led to reduced travel volume assumptions for remainder of 2025. - Government Solutions saw service revenue growth outside NYC and product sales increase. - T2 revenue decline in line with internal expectations. - Board authorized $100M stock repurchase program. - ERP implementation on schedule and budget.

Commercial Services: Second quarter revenue and segment profit increased about 5% and 4% respectively over prior year. RAC tolling increased 4% driven by increased product adoption and tolling activity, offset by a 2% decline in FMC revenue due to customer churn and macroeconomic factors. Government Solutions: Service revenue increased 7% y-o-y, total revenue up about 10% with product sales up $3 million. Segment profit was $30 million. T2: Total revenue declined about 4% due to reduction in product sales and professional services revenue. Revenue contribution: Commercial Services ~, Government Solutions ~, T2 ~

• Maintained full-year 2025 financial guidance but noted risk of lower end if travel volume declines further. - Government Solutions expected high single-digit total revenue growth. - Parking Solutions expected flat with 2024. - Commercial Services anticipated mid-single digits growth, with sequential improvement in Q3 and modest declines in Q4.

• Macro factors impacting FMC revenue with incremental weakness expected in Q3. - Travel demand uncertainties affecting Commercial Services. - Margin pressure in Government Solutions due to product mix and installation costs.

Q: Flesh out commentary on Commercial Services travel assumptions and FMC outlook A: TSA volume trends, 2Q exit rate set as back half travel throughput, FMC to be fully baked into run rate in Q3 with stabilization and growth from there Q: Update on New York City renewal timing and M&A pipeline A: Working toward resolution, will announce when done; M&A activity picking up, will do deals when makes sense for shareholders Q: Commentary on European operations, tariffs for photo enforcement cameras A: Starting to roll out in Italy and other countries, no material tariffs impacting camera profits Q: Pipeline and RFP process for photo enforcement bookings A: Strong pipeline with $60M ARR run rate added, conversion to revenue progressing well Q: CapEx relationship to revenue growth A: CapEx related to long-term useful life, Government Solutions CapEx increased due to growth, leading to future growth potential