Quarterly ResultAug 5, 2026, 05:28 PM
Verra Mobility Reports Q2 Net Loss of $(48.2)M; $104.4M Impairment Charges
AI Summary
Verra Mobility Corporation reported a net loss of $(48.178) million for the second quarter of 2026, a significant decline from a net income of $38.575 million in the prior year. This loss was primarily driven by $104.391 million in goodwill and intangible asset impairment charges, triggered by a sustained decline in share price, loss of a significant customer, and executive leadership changes. The company also noted materially less favorable contract extensions with two significant Commercial Services customers. Total revenue for the quarter increased to $263.591 million.
Key Highlights
- Q2 2026 net loss of $(48.178) million, down from $38.575 million net income in Q2 2025.
- Recognized $64.037 million goodwill impairment for the Parking Solutions unit.
- Recognized $40.354 million intangible assets impairment, primarily customer relationships.
- Total revenue increased to $263.591 million in Q2 2026 from $236.025 million in Q2 2025.
- Basic and diluted net loss per share of $(0.32) for Q2 2026.
- Two significant Commercial Services customer contracts renewed on materially less favorable terms.
- Total stockholders' equity decreased to $223.622 million from $292.960 million (Dec 31, 2025).
- Cash and cash equivalents decreased to $49.561 million from $65.272 million (Dec 31, 2025).
Price Impact
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