Quarterly ResultAug 5, 2026, 04:20 PM
Verra Mobility Q2 Net Loss $(48.2)M; Revenue $263.6M; Revises 2026 Guidance
AI Summary
Verra Mobility Corporation announced its second quarter 2026 financial results, reporting a total revenue of $263.6 million, a 12% increase year-over-year. Despite revenue growth, the company posted a net loss of $(48.2) million, primarily due to $64.0 million in goodwill impairment and $40.4 million in intangible asset impairment. The company also secured 7-year and 5-year contract extensions with Avis Budget Group and Hertz, respectively, and revised its full-year 2026 guidance. Jon Keyser was appointed Interim President and CEO during the quarter.
Key Highlights
- Q2 2026 Total Revenue was $263.6 million, an increase of 12% compared to Q2 2025.
- Q2 2026 Net Loss was $(48.2) million, compared to Net Income of $38.6 million in Q2 2025.
- Recorded $64.0 million goodwill impairment and $40.4 million intangible asset impairment in Q2 2026.
- Extended 7-year contract with Avis Budget Group and 5-year contract with Hertz.
- Revised 2026 full-year revenue guidance to $945 million to $965 million.
- Jon Keyser was appointed Interim President and CEO on June 1, 2026.
- Government Solutions segment revenue increased 20% to $128.5 million in Q2 2026.
- Net cash provided from operations decreased to $56.4 million from $75.1 million YoY.
Price Impact
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