Benzinga | Aug 9, 2021 04:15PM EDT

Verra Mobility Sees FY21 Sales $510M-$530M vs $491.06M Est.

Business Outlook

Guidance provided by Verra Mobility is subject to change as a variety of factors can affect actual results. Those factors are identified in the safe harbor language at the end of this press release.

Verra Mobility has provided the following forward-looking non-GAAP financial measures: Adjusted EBITDA, Free Cash Flow, Adjusted Net Income and Adjusted EPS. The business metrics are defined below and the Company has provided reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures. In addition, the recent acquisition of Redflex includes preliminary allocations of the fair values of the assets acquired and liabilities assumed as of the acquisition date. Purchase price allocations are subject to change within the measurement period (up to one year from the acquisition date).

2021 Full Year Guidance:

* Consolidated revenue, which includes contribution from Redflex is expected to be in the range of $510 million and $530 million, a year-over-year increase of 30% to 35% from 2020 full year revenue and 14% to 18% compared to 2019 full year revenue.

* Consolidated Adjusted EBITDA, which includes contribution from Redflex is expected to be in the range of $240 to $245 million as compared to $181.8 million in 2020 and $241.4 million in 2019.