Verra Mobility Corporation (NASDAQ:VRRM) released its third-quarter 2026 financial results and disclosed an interim chief financial officer appointment on October 30, 2026, covering the quarter ended September 30, 2026.

Key Highlights

  • Total revenue: $258.9 million for Q3 2026, a decrease of 1% compared to $261.9 million in Q3 2025, according to the filing.
  • Net income: $40.4 million, or $0.27 per diluted share (152.1 million diluted weighted average shares), down from $46.8 million, or $0.29 per share, in Q3 2025.
  • Adjusted EBITDA: $103.9 million, representing a 40% margin on total revenue, compared to $113.3 million and a 43% margin in the prior-year period.
  • Free Cash Flow: $89.4 million for Q3 2026, up from $49.0 million in Q3 2025, the filing reported.
  • Interim CFO appointed: The board appointed Matthew Kvarda, a Managing Director of Alvarez and Marsal North America, LLC, as Interim Chief Financial Officer effective November 5, 2026.
  • New CEO incoming: The board appointed Jon Newhard as President and Chief Executive Officer, effective November 1, 2026, succeeding Interim President and CEO Jon Keyser.
  • Fiscal year 2026 guidance reaffirmed: The company disclosed it is reaffirming the fiscal year 2026 guidance originally provided August 5, 2026.

Verra Mobility Q3 2026 Results: Segment Performance and Leadership Changes

According to the filing, Verra Mobility's Commercial Services segment generated total revenue of $100.3 million in Q3 2026, a 14% decrease from $117.3 million in Q3 2025. The company attributed the decline primarily to a $16.1 million, or 20%, reduction in rental car company tolling revenue, driven by contract extensions entered into with two significant customers "on terms materially less favorable to us than those of the prior agreement," fleet volume fluctuations, and reduced travel demand. Segment profit fell 22% to $61.3 million, with segment profit margin declining to 61% from 67%.

The Government Solutions segment reported total revenue of $136.8 million, a 12% increase from $122.6 million in Q3 2025. The filing noted the growth was driven by a 13% increase in service revenue, including $8.6 million from expansion in speed, red light, bus lane, school bus and other services outside of the New York City Department of Transportation contract, and $5.6 million attributable to NYCDOT installation revenue on new camera installations. Segment profit rose to $39.1 million from $31.3 million, with the margin improving to 29% from 26%. Parking Solutions revenue was $21.7 million, a 2% decrease from $22.1 million in Q3 2025, with segment profit of $3.5 million.

On the balance sheet, the filing reported cash and cash equivalents of $137.0 million and total debt, net of $1,033 million as of September 30, 2026. Net Debt (a non-GAAP measure) was $903.3 million and Net Leverage was 2.2x, compared to $971.8 million and 2.3x as of December 31, 2025. Regarding leadership, Craig Conti was reported to be stepping down as Executive Vice President and Chief Financial Officer effective November 4, 2026. The board retained Spencer Stuart to conduct a search for a permanent CFO. Matthew Kvarda, disclosed as a Managing Director of Alvarez and Marsal North America, LLC, was appointed Interim CFO effective November 5, 2026.

What Was Disclosed

The filing covers Verra Mobility's Q3 2026 financial results, including revenue, net income, segment performance, cash flow, and balance sheet data, along with the appointment of an interim CFO and an incoming permanent CEO, and reaffirmation of fiscal year 2026 guidance.