VERRA MOBILITY Corp — Form 8-K
Filed October 30, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
Q3 2026 revenue $258.9M (down 1% YoY); net income $40.4M down from $46.8M. Commercial Services segment revenue fell 14% ($100.3M) due to Avis Budget Group contract termination effective Jan 30, 2027, and unfavorable contract renewals with major rental car customers. Government Solutions grew 13% to $136.8M. Company took $64M goodwill and $40.4M intangible asset impairments in Parking Solutions. CEO Jon Newhard appointed (effective Nov 1, 2026); Interim CFO Matthew Kvarda appointed (effective Nov 5, 2026). Company reaffirmed FY2026 guidance: $945-965M revenue, $360-370M Adj. EBITDA. Net debt improved to $903.3M (2.2x leverage) from $971.8M.
Why this rating
Material revenue headwind (~5% of annual guidance) from ABG termination; major customer contract losses; $104M impairments. Offset by Government Solutions growth, improved leverage. Leadership uncertainty ongoing.
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