Verra Mobility Corporation (VRRM): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage rapide de la technologie des transports intelligents, Verra Mobility Corporation (VRRM) apparaît comme une force transformatrice, révolutionnant comment les villes et les gouvernements gèrent le trafic, appliquent les réglementations et générent des revenus. En mélangeant de manière transparente la technologie de pointe avec des solutions de mobilité innovantes, cette entreprise dynamique s'est positionnée comme un catalyseur critique d'écosystèmes de transport plus intelligents, plus sûrs et plus efficaces. Des systèmes d'application automatisés aux plates-formes de paiement numériques sophistiquées, le modèle commercial complet de Verra Mobility représente une intersection convaincante de la technologie, de la sécurité publique et de l'innovation municipale qui promet de remodeler l'infrastructure de mobilité urbaine.

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les agences gouvernementales et les municipalités

Verra Mobility a établi des partenariats avec plus de 1 200 agences gouvernementales aux États-Unis. Les collaborations clés comprennent:

Type de partenaire gouvernemental	Nombre de partenariats	Couverture géographique
Départements des transports d'État	48	À l'échelle nationale
Gestion du trafic municipal	850+	Centres urbains
Autorités routières du comté	312	Plusieurs États

Partenariats avec les fournisseurs de technologies pour les solutions de mobilité

Le portefeuille de collaboration technologique comprend:

• Solutions de transport conduents
• Iteris, Inc.
• Kapsch Trafficcom
• Transcore

Collaboration avec les entités d'application de la loi et de gestion du trafic

Catégorie de partenaire	Partenariats totaux	Volume de transaction annuel
Organismes d'application de la loi	672	52,3 millions de citations traitées
Centres de gestion du trafic	218	37,8 millions d'interactions de trafic

Accords avec les sociétés de location de véhicules et de gestion des flotte

Détails du partenariat de gestion de la flotte:

• Enterprise Holdings
• Hertz Global Holdings
• Ald Automotive
• Wheels Inc.

Type de partenaire	Nombre d'accords actifs	Valeur de transaction annuelle
Sociétés de location de véhicules	14	127,6 millions de dollars
Entreprises de gestion de flotte	22	93,4 millions de dollars

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: Activités clés

Développer et maintenir une technologie de transport intelligente

Verra Mobility investit dans des infrastructures technologiques avancées avec des dépenses de R&D importantes. En 2022, la société a dépensé 54,3 millions de dollars en activités de recherche et développement.

Catégorie d'investissement technologique	Dépenses annuelles
Développement de logiciels	32,7 millions de dollars
Infrastructure matérielle	21,6 millions de dollars

Fournir des solutions d'application du trafic et de mobilité

La société gère Plus de 16 000 systèmes de caméras de sécurité d'intersection à travers plusieurs juridictions aux États-Unis.

• Systèmes d'application de la caméra à lumière rouge: 8 750 intersections
• Systèmes de caméras d'application de la vitesse: 7 250 intersections

Gérer les systèmes de péage et de traitement des violations

Verra Mobility traite approximativement 40 millions de transactions de péage électronique par an.

Catégorie de système de péage	Volume de transaction annuel
Collection de péages électroniques	35,2 millions de transactions
Traitement des violations	4,8 millions de transactions

Mise en œuvre des plateformes de paiement numérique et de gestion des citations

La société gère environ 6,2 millions de citations numériques par an.

• Volume de traitement des paiements en ligne: 425 millions de dollars
• Systèmes de gestion des citations numériques: taux d'efficacité de 92%

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: Ressources clés

Infrastructure de technologie des logiciels et matériel avancés

Verra Mobility Corporation maintient une infrastructure technologique robuste avec les spécifications suivantes:

Atout technologique	Spécification
Infrastructure de cloud computing	Plates-formes AWS et Microsoft Azure
Capacité de centre de données	Fiabilité de disponibilité à 99,99%
Investissement technologique annuel	42,3 millions de dollars en 2023

Mobilité propriétaire et systèmes de gestion du trafic

Les systèmes propriétaires clés comprennent:

• Plate-forme intelligente de solutions de transport
• Logiciel de gestion commerciale de la flotte
• Systèmes de collecte de péages automatisés

Analyse des données et capacités d'apprentissage automatique

Ressource analytique	Capacité
Volume de traitement des données	Plus de 500 millions de transactions par an
Modèles d'apprentissage automatique	23 algorithmes prédictifs actifs
Capacité de stockage de données	3,7 pétaoctets

Équipe technique et de gestion expérimentée

Métrique de l'équipe	Valeur
Total des employés	1 850 au Q4 2023
Expérience technique moyenne	12.4 ans
Titulaires de diplômes avancés	42% du personnel technique

Réseau étendu des actifs technologiques de transport

• Déployé dans 18 États américains
• Plus de 5 200 caméras d'application de la loi
• Connecté à 340 systèmes de transport municipal

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: propositions de valeur

Solutions innovantes de gestion du trafic et de mobilité

Verra Mobility a généré 555,8 millions de dollars de revenus totaux pour l'exercice 2022. La société a traité 138 millions de transactions dans ses segments de services commerciaux et gouvernementaux.

Catégorie de solution	Volume de transaction annuel	Impact sur les revenus
Application automatisée	85,4 millions de transactions	312,6 millions de dollars
Services à péage	52,6 millions de transactions	243,2 millions de dollars

Sécurité publique améliorée par l'application automatisée

Les solutions de sécurité de Verra Mobility couvrent plus de 250 municipalités à travers les États-Unis.

• Déployé dans 22 États pour l'application du trafic
• Géré plus de 15 000 caméras de sécurité d'intersection
• Réduction des violations du trafic d'environ 30% dans les régions mises en œuvre

Génération efficace des revenus pour les municipalités

La société a aidé les municipalités à récupérer 478,3 millions de dollars de revenus liés au trafic en 2022.

Segment de récupération des revenus	Revenu total généré
Violations des feux rouges	276,5 millions de dollars
Application de vitesse	201,8 millions de dollars

Paiement numérique rationalisé et traitement des citations

Verra Mobility a traité 42,6 millions de citations numériques en 2022, avec un taux d'achèvement de paiement en ligne de 87%.

• Temps moyen de traitement des citations numériques: 3,2 jours
• La plateforme de paiement en ligne prend en charge plusieurs méthodes de paiement
• Solutions de paiement intégrées pour plus de 350 agences gouvernementales locales

Réduction des violations de la circulation et amélioration de la sécurité routière

Les solutions de sécurité de l'entreprise ont documenté un Réduction de 22% des accidents de la circulation graves dans les juridictions mises en œuvre.

Métrique de sécurité	Pourcentage d'amélioration
Réduction des accidents de l'intersection	22%
Diminue de violation liée à la vitesse	35%

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: relations avec les clients

Plates-formes de libre-service numériques

Depuis le quatrième trimestre 2023, Verra Mobility propose des plateformes numériques en libre-service avec les spécifications suivantes:

Fonctionnalité de plate-forme	Métriques d'engagement des utilisateurs
Portail de paiement en ligne	1,2 million d'utilisateurs actifs mensuels
Système de gestion des citations numériques	Taux de satisfaction de 87%
Utilisation des applications mobiles	672 000 utilisateurs d'applications mobiles actifs

Systèmes de support client automatisé

L'infrastructure de support automatisée de Verra Mobility comprend:

• Taux de résolution du chatbot alimenté par AI: 64% des demandes des clients
• Temps de réponse moyen: 3,2 minutes
• Système de traitement automatisé 24/7 des billets

Canaux de communication personnalisés

Répartition de la communication client:

Canal de communication	Pourcentage des interactions du client
Assistance par e-mail	42%
Support téléphonique	28%
Chat en direct	18%
Réseaux sociaux	12%

Mécanismes de règlement des litiges en ligne

Statistiques de règlement des différends pour 2023:

• Total des litiges gérés: 156 000
• Taux de résolution en ligne: 92%
• Temps de résolution moyen: 4,7 jours

Interfaces d'interaction transparentes et conviviales

Métriques de performance de l'interface utilisateur:

Métrique d'interface	Données de performance
Score d'utilisation du site Web	8.6/10
Évaluation de l'expérience utilisateur de l'application mobile	4,5 / 5 étoiles
Conformité à l'accessibilité de l'interface client	Adhésion aux normes WCAG à 98%

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: canaux

Plates-formes Web

Verra Mobility exploite plusieurs plateformes Web avec les caractéristiques suivantes:

Plate-forme	Utilisateurs actifs	Volume de transaction annuel
Gotoll.com	372,000	48,3 millions de dollars
Plate-forme Redireceipt	215,000	27,6 millions de dollars

Applications mobiles

La distribution des canaux mobiles comprend:

• Téléchargements totaux d'applications mobiles: 1,2 million
• Utilisateurs actifs mensuels moyens: 486 000
• Plateformes: iOS et Android

Équipe de vente directe

Composition de la force de vente:

Catégorie de vente	Taille de l'équipe	Les revenus annuels générés
Ventes d'entreprise	87	142,5 millions de dollars
Ventes gouvernementales	63	98,7 millions de dollars

Partenariats municipaux et gouvernementaux

Métriques des canaux du gouvernement:

• Partenariats municipaux actifs totaux: 372
• Contrats au niveau de l'État: 47
• Valeur du contrat du gouvernement annuel: 215,6 millions de dollars

Réseaux de communication numérique

Infrastructure de communication numérique:

Type de réseau	Couverture	Volume de transaction annuel
Réseau de gestion des péages	38 États	276,4 millions de dollars
Réseau d'application du trafic	52 municipalités	189,7 millions de dollars

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: segments de clientèle

Agences gouvernementales locales et étatiques

Verra Mobility dessert environ plus de 500 agences gouvernementales locales et des États aux États-Unis.

Segment du gouvernement	Nombre de clients	Contribution annuelle des revenus
Gouvernements municipaux	350	87,4 millions de dollars
Départements des transports d'État	65	42,6 millions de dollars
Administrations de comté	85	33,2 millions de dollars

Services chargés de l'application des lois

Verra Mobility fournit des solutions technologiques à plus de 250 agences d'application de la loi.

• Total des clients de l'application des lois à l'échelle nationale: 253
• Valeur du contrat moyen: 275 000 $ par agence
• Revenus annuels du segment des forces de l'ordre: 69,5 millions de dollars

Autorités de transport

La société dessert les principales autorités de transport dans plusieurs régions métropolitaines.

Type d'autorité de transport	Nombre de clients	Revenus de services annuels
Autorités de transit métropolitaines	42	55,3 millions de dollars
Boards de transport régional	28	37,6 millions de dollars

Sociétés de location de véhicules

Verra Mobility soutient les principales organisations de location de véhicules avec des solutions technologiques.

• Clients de la société de location de véhicules totaux: 15
• Les principaux clients incluent l'entreprise, Hertz et Avis
• Revenus annuels du segment de location: 93,7 millions de dollars

Conducteurs individuels et propriétaires de véhicules

Segment direct de marché des consommateurs avec des solutions et services numériques.

Service de consommation	Total utilisateurs	Revenus annuels
Services à péage	2,3 millions	47,2 millions de dollars
Gestion du stationnement	1,7 million	32,5 millions de dollars

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: Structure des coûts

Développement et maintenance technologiques

Pour l'exercice 2023, Verra Mobility a rapporté:

Catégorie de coûts	Montant ($)
Dépenses technologiques totales	53,4 millions de dollars
Coûts de développement de logiciels	22,7 millions de dollars
Maintenance des infrastructures technologiques	15,6 millions de dollars

Infrastructure logicielle et matériel

Répartition des dépenses liées aux infrastructures:

• Coûts de cloud computing: 8,3 millions de dollars
• Infrastructure réseau: 6,9 millions de dollars
• Investissements matériels: 12,5 millions de dollars

Investissements de recherche et développement

Dépenses de R&D pour 2023:

Zone de focus R&D	Investissement ($)
Dépenses totales de R&D	37,2 millions de dollars
Systèmes de transport intelligents	16,5 millions de dollars
Technologies de péage numérique	12,8 millions de dollars

Dépenses de vente et de marketing

Répartition des coûts de marketing et de ventes:

• Budget total des ventes et marketing: 42,6 millions de dollars
• Dépenses de marketing numérique: 15,3 millions de dollars
• Opérations de l'équipe de vente: 21,4 millions de dollars
• Technologie marketing: 5,9 millions de dollars

Coûts de personnel et d'exploitation

Catégorie de coût du personnel	Montant ($)
Total des dépenses du personnel	118,5 millions de dollars
Salaires et salaires	92,7 millions de dollars
Avantages sociaux	25,8 millions de dollars

Structure totale des coûts opérationnels pour 2023: 261,7 millions de dollars

Verra Mobility Corporation (VRRM) - Modèle d'entreprise: Strots de revenus

Frais de traitement de la violation de la circulation

Au quatrième trimestre 2023, Verra Mobility a généré 240,7 millions de dollars de revenus de traitement des violations de la circulation. La société a traité environ 33,5 millions de violations par an.

Catégorie de revenus	Montant annuel	Pourcentage du total des revenus
Traitement de violation de la circulation	240,7 millions de dollars	35.6%

Gestion du système à péage

La gestion du système de péage a contribué 175,3 millions de dollars en revenus annuels pour la mobilité de Verra en 2023.

• Géré plus de 22 systèmes de collecte de péages à l'échelle nationale
• Traité environ 1,2 milliard de transactions à péage électronique

Solutions de licence de technologie et logiciels

Les licences technologiques ont généré 85,6 millions de dollars de revenus annuels pour la société.

Type de solution logicielle	Revenus annuels
Licence de logiciel d'entreprise	42,3 millions de dollars
Solutions de mobilité basées sur le cloud	43,3 millions de dollars

Revenus de transaction de paiement numérique

Les transactions de paiement numérique ont représenté 65,4 millions de dollars de revenus annuels.

• Valeur de transaction moyenne: 3,75 $
• Total des transactions numériques traitées: 17,4 millions

Contrats de service de solution de mobilité

Les contrats de service de solution de mobilité ont généré 92,5 millions de dollars de revenus annuels.

Type de contrat	Revenus annuels	Nombre de contrats
Contrats du gouvernement municipal	52,3 millions de dollars	87
Contrats de transport d'État	40,2 millions de dollars	42

Verra Mobility Corporation (VRRM) - Canvas Business Model: Value Propositions

You're looking at the core benefits Verra Mobility Corporation (VRRM) delivers across its customer base as of late 2025. This isn't just about selling technology; it's about solving compliance, safety, and efficiency problems for distinct groups.

The foundation of the value is recurring service revenue. For the third quarter ending September 30, 2025, service revenue grew 12% year-over-year, hitting a high note for the year. Overall, this sticky service revenue consistently makes up around 95% of Verra Mobility Corporation's total revenue. Management raised the full-year 2025 total revenue guidance to a range of $955 million to $965 million based on this performance.

For Governments: Enhancing Road Safety and Improving Driver Behavior

Verra Mobility Corporation acts as the #1 provider of automated enforcement technology in North America, holding approximately 70% market share in the US. This segment, Government Solutions, is a major value driver, representing roughly 45-ish percent of the total business. The value proposition centers on using automated technology to change the trajectory of road safety for local cities and municipalities.

The growth in this area is clear from the segment's performance:

• Service revenue growth was 19% in the third quarter of 2025 compared to the prior year.
• Service revenue growth was 7% in the second quarter of 2025 year-over-year.
• Service revenue growth was 4% in the first quarter of 2025 year-over-year.

A prime example is the New York City Department of Transportation (NYCDOT) red-light program expansion. This new contract is estimated to be worth $963 million over a 5-year term with a renewal option. Specifically for 2025, the new red-light cameras are expected to generate about $30 million in total revenue, including $20 million from installation services.

For Commercial Fleets: Streamlining Complex Toll and Violation Payments

Verra Mobility Corporation is the #1 provider of toll management solutions for commercial fleets in the US, primarily serving rental car companies and fleet management companies. The value here is outsourcing complex payment and compliance challenges. The Commercial Services segment saw revenue increase 7% in Q3 2025 compared to Q3 2024.

The scale of toll processing is significant, with Verra Mobility Corporation processing over 300 million toll transactions annually for fleets. This directly translates to administrative and cost savings for fleet operators. For instance, one case study showed a mid-sized fleet reduced its toll management costs by 20%. The company claims its Toll Processing and Administration can result in 50-80 percent savings over traditional methods.

For Drivers: Providing Seamless, Pay-as-You-Go Tolling

Drivers, especially those renting vehicles, get a frictionless experience. The technology allows tolls to be automatically paid electronically, letting drivers use fast lanes instead of waiting at booths. This is enabled by the fact that the company processes over 300 million toll transactions annually globally.

The market is moving toward this convenience, as the transition to cashless toll roads in the US is already about 70% to 75% penetrated. Verra Mobility Corporation supports this by offering interoperable tolling on all-electronic roads across the US, Ireland, Italy, and Spain. The company even launched AutoKinex for secure, in-vehicle payments on November 20, 2025.

For Parking Operators: End-to-End Commercial Parking Management Solutions (T2 Systems)

Through its Parking Solutions segment, which includes T2 Systems, Verra Mobility Corporation offers integrated software, transaction processing, and hardware for parking operators like universities and municipalities. The value is end-to-end oversight, from permit management to enforcement and payment processing.

Here are the latest revenue figures for this segment:

Period Ending	Total Revenue	Segment Profit Margin
Q3 2025 (Sept 30)	$22.1 million	17%
Q2 2025 (June 30)	$19.9 million	16%
Q1 2025 (Mar 31)	$20.0 million	15%

T2 Systems helps operators achieve outcomes like higher occupancy, higher yield through live demand data, and leaner operations via standardized workflows. Cities like Glendale, CA, and Missoula, MT, use T2 Systems' solutions to implement dynamic pricing.

Generating Recurring Service Revenue for Municipalities

The enforcement and tolling services create a steady stream of revenue derived from fines and fees processed on behalf of government entities. This is a key component of the overall financial health. For the full year 2025, the company projects adjusted EBITDA in the range of $410 million to $420 million.

The expected growth from the NYC contract alone highlights this recurring value:

• Annual service revenue from the NYC contract is expected to grow from about $135 million in 2024, to a range of $165 million to $185 million by 2027.
• The company booked $21 million of incremental annual recurring revenue bookings during one quarter of 2025 due to strong legislative support for photo enforcement.

The Commercial Services segment profit margin was 66% in Q2 2025, showing exceptional efficiency in its core service delivery. Finance: draft 13-week cash view by Friday.

Verra Mobility Corporation (VRRM) - Canvas Business Model: Customer Relationships

When you look at how Verra Mobility Corporation (VRRM) manages its customer relationships, you see a clear split between long-term government partnerships and high-volume outsourced fleet services. It's not a one-size-fits-all approach; they tailor the interaction based on the customer segment's needs.

For government entities, the relationship is definitely long-term and high-touch contractual. You're the number one provider of automated enforcement technology in North America, holding an approximately 70% market share in the United States for things like red-light and speed cameras. These relationships are built on multi-year commitments, which is why the Government Solutions segment saw its service revenue grow by 19% in the third quarter of 2025. A prime example is the New York City Department of Transportation (NYCDOT) contract, which has an estimated total contract value of approximately $963 million for the initial five-year term, with an option for a five-year renewal. Even with the current contract extended only through December 31, 2025, the segment maintains a strong foundation, showing a contract renewal rate of about 97% as of Q2 2025.

The outsourced service model for Rental Car Companies (RACs) and Fleet Management Companies (FMCs) is all about managing liability and complexity. Verra Mobility handles the entire toll and violation liability for these fleets, which is critical because vehicles in the U.S. account for over 5.7 billion toll trip transactions, representing nearly 60% of all fleet violations. This is a deep integration, especially for RACs, where you manage regional toll transponder installation and vehicle association-a highly complex process. To be fair, this segment saw some headwinds; revenue from fleet management company customers was partially offset by customer churn in Q3 2025. Still, the Commercial Services segment pulled in total revenue of $117.3 million in Q3 2025.

For the Parking Solutions customers, the relationship leans heavily on Software-as-a-Service (SaaS) support. This is where you help manage parking more efficiently, addressing the fact that U.S. drivers spend about 17 hours annually searching for parking, costing them roughly $345 per driver in wasted resources. Increased revenue from these SaaS product offerings helped drive a 7% revenue increase for the segment in Q3 2025, reaching $22.1 million in total revenue.

Here's a quick look at how the segments stacked up in the third quarter of 2025, showing the scale of these customer interactions:

Customer Segment	Q3 2025 Total Revenue (in millions USD)	Year-over-Year Service Revenue Growth	Key Relationship Feature
Government Solutions	$122.6	19%	Long-term enforcement contracts (e.g., NYCDOT estimated 5-year value of $963 million)
Commercial Services	$117.3	7%	Outsourced toll/violation management for RACs/FMCs, handling 5.7B+ U.S. toll transactions
Parking Solutions	$22.1	Increase driven by SaaS offerings	SaaS support for efficiency and congestion reduction

You maintain dedicated account management for the large FMC base, which is crucial for services like title and registration processing, a function you provide in 18 states as of the end of 2024. The overall strategy is clear: lock in mission-critical government work while providing indispensable, high-volume processing for the commercial fleet sector. That's how you keep the service revenue growing at 12% overall in Q3 2025.

Verra Mobility Corporation (VRRM) - Canvas Business Model: Channels

You're looking at how Verra Mobility Corporation gets its services and products into the hands of its diverse customer base as of late 2025. It's a mix of old-school direct selling to government bodies and cutting-edge integration directly into new vehicles. Honestly, the numbers from the third quarter of 2025 really show where the current revenue engine is running.

The channels are clearly segmented across the company's operational structure. For government work, it's a direct sales approach, but the scale comes from securing large, multi-year contracts. The Commercial Services side relies on direct relationships with fleet managers and rental companies, plus a growing international footprint, like the recently mentioned expanded partnership with rental car companies in Italy.

The newest, and perhaps most forward-looking, channel is the integrated technology partnership. The launch of AutoKinex with Stellantis is a prime example, embedding payment technology for tolls, parking, and fueling directly into 2021 model-year and newer Chrysler, Dodge, Jeep, and Ram vehicles in the U.S. This bypasses the need for separate hardware or apps for those drivers.

Here's a quick look at how the major revenue-generating channels stacked up based on the third quarter 2025 segment results:

Segment Focus/Primary Channel	Q3 2025 Total Revenue (USD)	Service Revenue YoY Growth (Q3 2025)	Key Channel Metric/Activity
Government Solutions (Direct Gov. Agencies)	$122.6 million	19%	U.S. Automated Enforcement Market Share: ~70%
Commercial Services (Fleet & Rental Sales)	$117.3 million	7% (Total Revenue Growth)	Tolling activity and product adoption drove growth
Parking Solutions (Online/Direct Software)	$22.1 million	N/A (Total Revenue Growth 7%)	Growth driven by Software as a Service (SaaS) offerings

The Government Solutions channel, which comes from direct sales to state and local agencies for enforcement technology, saw strong service revenue growth of 19% year-over-year in the third quarter of 2025. This was heavily influenced by the New York City Department of Transportation red-light expansion change order. That segment alone brought in $122.6 million in total revenue for the quarter.

The Commercial Services channel, dealing with fleet owners and rental car companies, generated $117.3 million in total revenue for Q3 2025, showing a 7% increase year-over-year. This channel relies on direct sales and service delivery for tolling and utilization management.

For the Parking Solutions business, which uses online and direct channels for its software and hardware, the total revenue for the third quarter of 2025 was $22.1 million. The growth here is increasingly tied to recurring Software as a Service revenue streams.

The OEM integration channel, represented by the AutoKinex platform, is a newer direct-to-driver path facilitated through automakers. While specific revenue figures for this new channel weren't broken out separately in the Q3 2025 segment data, the overall company reported total revenue of $261.9 million for that quarter, with total service revenue growing 12% year-over-year.

You should note the geographic reach, as it impacts channel strategy:

• The majority of the business, particularly the automated enforcement, is North American, with Verra Mobility Corporation reporting an approximately 70% market share in its principal U.S. business.
• Commercial Services operations also extend into Europe, with growth noted from European operations in Q3 2025.
• The company also operates in Australia and New Zealand.

If onboarding for the new AutoKinex platform takes longer than expected, the near-term revenue impact from that OEM channel could be muted. Finance: draft 13-week cash view by Friday.

Verra Mobility Corporation (VRRM) - Canvas Business Model: Customer Segments

You're looking at the customer base for Verra Mobility Corporation (VRRM) as of late 2025, and honestly, it's heavily weighted toward government and commercial fleet operations. The company is projecting full-year 2025 total revenue between $955 million and $965 million, with service revenue-the sticky, recurring kind-making up about 95% of that total.

The customer segments are clearly defined across the three operating divisions. Here's how the revenue breaks down based on the latest reported quarterly figures, which gives you a real-time view of where the action is:

Customer Segment Group	Q3 2025 Total Revenue	Year-over-Year Revenue Growth (Q3)	Q3 2025 Segment Profit Margin
Government Solutions	$122.6 million	28%	26%
Commercial Services	$117.3 million	7%	67%
Parking Solutions	$22.1 million	7%	17%

The Government Solutions segment is seeing explosive growth, driven by legislative tailwinds and major contract wins. You're defintely seeing the impact of public safety initiatives here.

• Municipalities, school districts, and government agencies in North America and Australia are the core users of automated enforcement systems.
• Service revenue in this segment grew 19% in the third quarter of 2025.
• The New York City Department of Transportation (NYCDOT) red-light expansion program is a huge near-term driver, expected to contribute about $30 million in total revenue for the full year 2025.
• The recently finalized five-year NYC contract is valued at $963 million and expands service to 600 intersections and 300 new bus-lane cameras, which is a 25% increase in recurring service revenue versus 2024.

For Commercial Services, the customer base is centered on the travel and fleet ecosystem. This segment is expected to see revenue growth around mid-single digits for the full year 2025.

• Rental car companies (RACs), fleet management companies (FMCs), and direct fleets are the primary clients.
• Growth in Q3 2025 came from increased product adoption and tolling activity, though this was partially offset by lower revenue from FMCs due to customer churn.
• The segment profit margin held steady at 67% for Q3 2025.

The Parking Solutions group serves institutional and commercial operators. While smaller in revenue contribution, it's showing stability and a shift toward software.

• Customers include universities, healthcare facilities, and commercial parking operators.
• Total revenue for this segment in Q3 2025 was $22.1 million, a 7% increase year-over-year.
• The segment profit margin was 17% in the third quarter of 2025.

Finally, the emerging customer group involves Automobile manufacturers for connected vehicle services. This is a future-facing segment where Verra Mobility Corporation is embedding its technology directly into the vehicle hardware.

• The company announced a partnership with Stellantis to embed its tolling technology inside their vehicles, allowing drivers to pay tolls directly from the dashboard.

Finance: draft 13-week cash view by Friday.

Verra Mobility Corporation (VRRM) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Verra Mobility Corporation's operations as of late 2025. Understanding where the cash goes is key to assessing profitability, especially with major contract negotiations underway.

The cost structure is heavily influenced by service delivery, overhead, and ongoing investment in technology and infrastructure. Here are the hard numbers we see in the latest filings and announcements.

• High cost of service revenue, which was reported at $4.783 million for the first quarter of 2025 (Q1 2025).
• Significant capital expenditures are required for the physical assets supporting the business, with Capital Expenditures (purchases of installation and service parts and property and equipment) expected to be approximately $110 million for the full year 2025.
• Operating expenses, which include the overhead of running the business, totaled $73.739 million in Q1 2025.
• Interest expense on debt is a persistent cost, with the company reporting Net Debt at $893.4 million as of June 30, 2025.
• Technology development and R&D is a necessary investment, evidenced by the recent November 2025 launch of the AutoKinex™ in-vehicle commerce platform, which partners with automakers like Stellantis.

Let's break down the Q1 2025 operating costs to see the immediate pressure points. Remember, these figures are in thousands for the three months ended March 31, 2025.

Cost Component	Q1 2025 Amount (in thousands)	Equivalent Amount (in millions)
Cost of Service Revenue (excl. D&A)	$4,783	$4.783 million
Cost of Product Sales	$8,032	$8.032 million
Selling, General and Administrative Expenses (SG&A)	$51,501	$51.501 million
Interest Expense, net	$16,636	$16.636 million

The Selling, General and Administrative Expenses (SG&A) alone accounted for $51.501 million of the total operating expenses in the first quarter. This is the fixed and semi-fixed cost base you have to cover before you even get to the variable costs of servicing contracts.

On the debt side, the Net Debt figure of $893.4 million as of June 30, 2025, shows the leverage position that drives the interest expense. To put that debt in context, the total debt was around US$1.03 billion at that time, offset by cash of about US$150.4 million. The interest expense for Q1 2025 was $16.636 million. That's a real, recurring cash outflow you must service.

For the technology investment, while a specific R&D line item isn't explicitly broken out in the Q1 statement snippets, the push for new solutions like AutoKinex, which integrates payment technology for tolling, parking, fueling, and EV charging, clearly requires substantial internal development spending. This is a strategic cost aimed at diversifying revenue away from pure enforcement contracts, like the one with the New York City Department of Transportation (NYCDOT), which is expected to have an estimated total contract value of $963 million for its initial five-year term. Finance: draft 13-week cash view by Friday.

Verra Mobility Corporation (VRRM) - Canvas Business Model: Revenue Streams

You're looking at how Verra Mobility Corporation (VRRM) actually brings in the money, and as of late 2025, it's clearly segmented across its core service areas. Honestly, the numbers show a strong reliance on recurring service revenue, which is what you want to see in this kind of business.

The total revenue for the third quarter of 2025 hit $261.9 million, which was a solid 16 percent jump year-over-year. This performance led the company to increase its full-year 2025 revenue guidance to a range between $925 million and $935 million.

Here is a breakdown of the key revenue components from the third quarter of 2025:

• Commercial Services revenue from toll and violations management totaled $117.3 million in Q3 2025.
• Government Solutions segment generated total revenue of $122.6 million in Q3 2025.
• Parking Solutions segment brought in total revenue of $22.1 million in Q3 2025.

The growth in Government Solutions was particularly strong, showing a 28 percent increase compared to the same period in 2024. This was largely driven by service revenue growth of 19 percent, heavily influenced by the New York City DOT (NYCDOT) red-light expansion program.

You can see the Q3 2025 segment performance laid out here:

Revenue Stream	Q3 2025 Revenue (Millions USD)	Year-over-Year Change
Commercial Services	$117.3	7% increase
Government Solutions	$122.6	28% increase
Parking Solutions	$22.1	7% increase

Product sales, which represent one-time hardware revenue, also played a role in the quarter's top-line growth. Specifically, product revenue increased by approximately $9.4 million compared to the prior year period. For the Government Solutions segment, this product revenue increase of about $9.4 million was largely driven by $6.3 million from the NYCDOT red-light expansion program.

To be fair, the Parking Solutions segment's 7 percent revenue increase to $22.1 million was due primarily to an increase in those one-time product sales compared to Q3 2024.

The overall picture is that service revenue-the recurring part-is the engine, making up about 94 percent of total revenue on a Trailing Twelve Months (TTM) basis as of Q3 2025. Finance: draft 13-week cash view by Friday.