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VERRA MOBILITY Verra Mobility Reports Second Quarter 2021 Financial Results August 9 , 2021 Announces $ 100 Million Share Repurchase Program MESA , Ariz . , Aug. 9 , 2021 / PRNewswire / -- VERRA MOBILITY ™ • Net income for the second quarter of 2021 was $ 4.0 million , or $ 0.02 per share • Reports second quarter revenue of $ 128.7 million ; total year - to - date revenue of $ 218.5 million • Generated cash flows from operations of $ 37.5 million • Collected $ 28.1 million in the second quarter of 2021 against the outstanding City of New York Department of Transportation receivable • Provides full year 2021 guidance ; expects stronger growth in second half of 2021 Verra Mobility ( NASDAQ : VRRM ) , a leading provider of smart mobility technology solutions , announced today the financial results for the three and six months ended June 30 , 2021 . " We delivered second - quarter revenue of $ 128.7 million as a surge in leisure travel led to solid growth and profitability across both business segments , " stated David Roberts , Chief Executive Officer of Verra Mobility . " This stellar performance was led by our Commercial Services segment , which grew triple digits year - over - year and 41 % sequentially as robust demand for rental cars remained strong in our key tolling markets . Our Government Solutions segment continues to benefit from the NYC school zone speed camera program . In addition , traffic patterns improved throughout the quarter as local agencies reactivated their red - light and speed enforcement programs , resulting in nearly 41 % year - over - year growth in our service revenue . On a consolidated basis , strong flow - through in both business segments led to triple - digit year - over - year adjusted EBITDA growth with margins improving to approximately 53 % . Overall , we are very pleased with our performance for the first half of 2021. Given the improving business metrics and favorable travel trends , we are reintroducing guidance to reflect a much stronger second half of 2021. " Second Quarter 2021 Financial Highlights • Revenue : Total revenue for the second quarter of 2021 was $ 128.7 million , an increase of 61 % compared to $ 79.8 million for the second quarter of 2020. The increase was attributable to service revenue resulting from improved travel demand that positively impacted the rental car industry in our Commercial Services segment , and growth in both speed and red - light programs in our Government Solutions segment . • Net income ( loss ) : Net income for the second quarter of 2021 was $ 4.0 million , or $ 0.02 per share based on 166.0 million diluted weighted average shares outstanding . Net loss for the comparable 2020 period was $ ( 23.7 ) million , or $ ( 0.15 ) per share , based on 161.7 million diluted weighted average shares outstanding . • Adjusted Earnings Per Share ( EPS ) : Adjusted EPS for the second quarter of 2021 was $ 0.10 per share compared to $ 0.07 per share for the second quarter of 2020 . • Adjusted EBITDA : Adjusted EBITDA was $ 68.6 million for the second quarter of 2021 , compared to $ 27.6 million for the same period last year . Adjusted EBITDA margin was 53 % of total revenue for 2021 and 35 % for 2020 . The Company reports its results of operations based on two operating segments : • Commercial Services delivers market - leading automated toll and violations management and title and registration