Verra Mobility (VRRM) Q3 FY2023 earnings: revenue $210 million, up 6.2% on the year

Verra Mobility Corp. (VRRM) reported revenue of $210 million for Q3 FY2023, the quarter ended 30 September 2023, up 6.2% on the same quarter a year earlier. Net income was $30 million, up 23.3% on the year, and diluted earnings per share $0.18. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2023.

Revenue$210 millionup 6.2%

Net income$30 millionup 23.3%

Diluted EPS$0.18

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	210	n/a	n/a	n/a
Selling, general and administrative	42.3	n/a	n/a	n/a
Operating income	59.2	n/a	n/a	n/a
Operating margin	28.2%	n/a	n/a
Interest expense	20.4	n/a	n/a	n/a
Pre-tax income	41.8	n/a	n/a	n/a
Income tax	11.5	n/a	n/a	n/a
Effective tax rate	27.5%	n/a	n/a
Net income	30.3	n/a	n/a	n/a
Net margin	14.4%	n/a	n/a
Diluted EPS	$0.18	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	62.4	n/a	n/a	n/a
Capital expenditure	10.4	n/a	n/a	n/a
Free cash flow	52.0	n/a	n/a	n/a
Free cash flow margin	24.8%	n/a	n/a
Cash from investing	-10.2	n/a	n/a	n/a
Cash from financing	-146	n/a	n/a	n/a
Depreciation and amortisation	27.5	n/a	n/a	n/a
Share-based compensation	4.4	n/a	n/a	n/a
Buybacks	100	n/a	n/a	n/a
Diluted shares, weighted	169m	n/a	n/a	n/a
Shares outstanding at period end	166m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	404	n/a	n/a	n/a
Debt	1,039	n/a	n/a	n/a
Operating lease liabilities	30.6	n/a	n/a	n/a
Other liabilities	282	n/a	n/a	n/a
Total liabilities and equity	1,756	n/a	n/a	n/a
Fixed assets	118	n/a	n/a	n/a
Goodwill	833	n/a	n/a	n/a
Intangible assets	316	n/a	n/a	n/a
Cash and equivalents	114	n/a	n/a	n/a
Receivables	192	n/a	n/a	n/a
Inventory	19.9	n/a	n/a	n/a
Other assets	164	n/a	n/a	n/a
Total assets	1,756	n/a	n/a	n/a

Questions

What was Verra Mobility's revenue in Q3 FY2023?

Verra Mobility (VRRM) reported revenue of $210 million for Q3 FY2023, the quarter ended 30 September 2023, up 6.2% on the same quarter a year earlier.

How much did Verra Mobility earn in Q3 FY2023?

Net income for Q3 FY2023 was $30 million, up 23.3% on the year, and diluted earnings per share $0.18.

When did Verra Mobility report Q3 FY2023 results?

Verra Mobility filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 9 November 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	210	211	210	222	226	222	223	236	262	258	224	264
SG&A	42.3	73.1	48.2	46.3	47.9	52.6	51.5	48.5	47.8	67.5	40.9	44.0
Operating income	59.2	23.3	54.4	61.2	63.9	-43.4	57.4	63.2	74.8	43.0	51.8	-32.8
Operating margin	28%	11%	26%	28%	28%	-20%	26%	27%	29%	17%	23%	-12%
Interest expense	20.4	20.9	19.6	18.8	18.7	16.7	16.6	16.6	16.4	15.0	15.4	15.5
Pre-tax income	41.8	1.1	39.0	47.6	48.5	-55.9	44.8	52.6	64.7	32.9	40.5	-42.2
Tax rate	28%	-165%	25%	28%	28%	n/a	28%	27%	28%	43%	34%	n/a
Net income	30.3	3.0	29.1	34.2	34.7	-66.7	32.3	38.6	46.8	18.9	26.7	-48.2
Net margin	14%	1%	14%	15%	15%	-30%	14%	16%	18%	7%	12%	-18%
Diluted EPS	$0.18	$0.02	$0.17	$0.20	$0.21	-$0.41	$0.20	$0.24	$0.29	$0.12	$0.17	-$0.32
Operating cash flow	62.4	35.7	34.3	40.0	109	40.5	63.0	75.1	77.7	40.0	40.8	56.4
Capital expenditure	10.4	16.5	14.3	14.1	23.7	18.8	21.2	34.9	28.8	34.2	31.2	23.8
Free cash flow	52.0	19.2	20.1	26.0	85.1	21.6	41.7	40.3	49.0	5.7	9.6	32.6
Buybacks	100	n/a	n/a	n/a	0.0	n/a	0.0	0.0	0.0	133	50.2	1.3
Shares outstanding	166m	167m	167m	165m	165m	160m	159m	160m	160m	154m	152m	152m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 9 November 2023, accession 0000950170-23-062105: the filing on EDGAR. All of Verra Mobility Corp.'s filings: EDGAR company page.

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