Verra Mobility (NASDAQ:VRRM) Q3 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 08:00 am ET


Verra Mobility (NASDAQ:VRRM) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Verra Mobility Corporation Third Quarter 2019 Financial Results Call. At this time all participants are in a listen-only mode. A question-and-answer will follow the formal presentation. [Operator Instructions]

I would now like to turn the conference over to your host, Mr. Marc Griffin, Investor Relations. Thank you. You may begin.

Marc P. Griffin

Thank you. Good afternoon and welcome to Verra Mobility's Third Quarter 2019 Earnings Call. Today, we'll be discussing the results announced in our press release issued before the market opened. With me on the call this afternoon is David Roberts, Verra Mobility's Chief Executive Officer; and Tricia Chiodo, Chief Financial Officer. They will begin with prepared remarks, and then we'll open up the call for Q&A.

During the call, we will make statements related to our business that may be considered forward-looking, including statements concerning our financial guidance for the full year of 2019, our plans to execute on our growth strategy, our ability to maintain existing and acquire new customers and other statements regarding our plans and prospects. Forward-looking statements may also be identified with words such as we expect, we anticipate or upcoming. These statements reflect our views only as of today and should not be considered our views as of any subsequent date. We undertake no obligation to update or revise these forward-looking statements.

Forward-looking statements are not promises or guarantees of future performance and are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from our expectations. For a discussion of material risks and other important factors that could affect our actual results, please refer to those contained in our quarterly report on Form 10-Q or our annual report on Form 10-KA as filed with the SEC, all of which are available on the Investor Relations section of our website at and on the SEC's website at

Finally, during the course of today's call, we'll refer to certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our press release issued before the market open today, which is located on our website again at and the SEC's website at

With that, let me turn the call over to David.

David Martin Roberts

Thank you, Marc. And thank you to everyone joining us on the call today. Before we update everyone on our Q3 results, I want to take a moment and celebrate Verra Mobility's one-year anniversary as a public company. In October of 2018, Verra Mobility made the leap to public markets and by most accounts we have had a phenomenal first year. Today's environment for newly minted public companies has been challenging, especially for those that have combined with special purpose acquisition companies.

We believe Verra Mobility has been an exception because we laid out a strong growth strategy 18 months ago before going public, and we have continued to execute against that plan. It has not been without its challenges in some of our new initiatives, but