Verra Mobility (VRRM) 10-Q 17 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 11, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Registrant Name	VERRA MOBILITY CORPORATION
Entity Central Index Key	0001682745
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		162,360,367
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	VRRM
Security Exchange Name	NASDAQ
Entity File Number	001-37979
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3563824
Entity Address, Address Line One	1150 North Alma School Road
Entity Address, City or Town	Mesa
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85201
City Area Code	480
Local Phone Number	443-7000
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 249,605	$ 120,259
Restricted cash	819	633
Accounts receivable (net of allowance for credit loss of $12.1 million and $11.5 million at March 31, 2021 and December 31, 2020, respectively)	192,985	168,783
Unbilled receivables	14,881	14,045
Prepaid expenses and other current assets	24,509	24,317
Total current assets	482,799	328,037
Installation and service parts, net	8,597	7,944
Property and equipment, net	67,741	70,284
Operating lease assets	30,172	29,787
Intangible assets, net	319,149	342,139
Goodwill	586,220	586,435
Other non-current assets	2,535	2,699
Total assets	1,497,213	1,367,325
Current liabilities:
Accounts payable	41,334	34,509
Accrued liabilities	17,394	15,636
Payable to related party pursuant to tax receivable agreement, current portion	5,202	4,791
Current portion of long-term debt	6,500	9,104
Total current liabilities	70,430	64,040
Long-term debt, net of current portion	965,945	832,941
Operating lease liabilities, net of current portion	28,447	27,986
Payable to related party pursuant to tax receivable agreement, net of current portion	62,667	67,869
Private placement warrant liabilities	32,933	30,866
Asset retirement obligation	6,406	6,409
Deferred tax liabilities, net	21,316	21,148
Other long-term liabilities	551	494
Total liabilities	1,188,695	1,051,753
Commitments and contingencies (Note 12)
Stockholders' equity
Preferred stock, $.0001 par value
Common stock, $.0001 par value	16	16
Common stock contingent consideration	36,575	36,575
Additional paid-in capital	375,671	373,620
Accumulated deficit	(103,765)	(94,850)
Accumulated other comprehensive income	21	211
Total stockholders' equity	308,518	315,572
Total liabilities and stockholders' equity	$ 1,497,213	$ 1,367,325

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Allowance for credit loss	$ 12.1	$ 11.5
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total revenue	$ 89,858	$ 116,713
Operating expenses	30,492	32,259
Selling, general and administrative expenses	28,443	25,886
Depreciation, amortization and (gain) loss on disposal of assets, net	28,265	29,246
Total costs and expenses	88,107	97,300
Income from operations	1,751	19,413
Interest expense, net	9,164	12,451
Change in fair value of private placement warrants	2,067	(15,467)
Loss on extinguishment of debt	5,334
Other income, net	(3,013)	(2,925)
Total other expenses (income)	13,552	(5,941)
(Loss) income before income tax (benefit) provision	(11,801)	25,354
Income tax (benefit) provision	(2,886)	3,214
Net (loss) income	(8,915)	22,140
Other comprehensive loss:
Change in foreign currency translation adjustment	(190)	(3,367)
Total comprehensive (loss) income	$ (9,105)	$ 18,773
Net (loss) income per share:
Basic	$ (0.05)	$ 0.14
Diluted	$ (0.05)	$ 0.04
Weighted average shares outstanding:
Basic	162,297	160,924
Diluted	162,297	164,427
Service Revenue
Total revenue	$ 89,763	$ 99,497
Cost of revenue	880	1,219
Product Sales
Total revenue	95	17,216
Cost of revenue	$ 27	$ 8,690

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Common StockPlatinum Stockholder	Common Stock Contingent Consideration	Common Stock Contingent ConsiderationPlatinum Stockholder	Additional Paid-in Capital	Additional Paid-in CapitalPlatinum Stockholder	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2019	$ 309,614	$ (694)	$ 16		$ 54,862		$ 346,891		$ (89,578)	$ (694)	$ (2,577)
Beginning Balance (in shares) at Dec. 31, 2019			159,150
Net income (loss)	22,140								22,140
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member								us-gaap:AccountingStandardsUpdate201613Member
Earn-out shares issued to Platinum Stockholder						$ (18,287)		$ 18,287
Earn-out shares issued to Platinum Stockholder (in shares)				2,500
Vesting of restricted stock units (RSUs) (in shares)			42
Payment of employee tax withholding related to RSUs vesting	(327)						(327)
Stock-based compensation	2,768						2,768
Other comprehensive loss, net of tax	(3,367)										(3,367)
Ending Balance at Mar. 31, 2020	330,134		$ 16		36,575		367,619		(68,132)		(5,944)
Ending Balance (in shares) at Mar. 31, 2020			161,692
Beginning Balance at Dec. 31, 2020	315,572		$ 16		36,575		373,620		(94,850)		211
Beginning Balance (in shares) at Dec. 31, 2020			162,269
Net income (loss)	(8,915)								(8,915)
Vesting of restricted stock units (RSUs) (in shares)			91
Payment of employee tax withholding related to RSUs vesting	(857)						(857)
Stock-based compensation	2,908						2,908
Other comprehensive loss, net of tax	(190)										(190)
Ending Balance at Mar. 31, 2021	$ 308,518		$ 16		$ 36,575		$ 375,671		$ (103,765)		$ 21
Ending Balance (in shares) at Mar. 31, 2021			162,360

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities:
Net (loss) income	$ (8,915)	$ 22,140
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	28,214	29,250
Amortization of deferred financing costs and discounts	1,593	903
Change in fair value of private placement warrants	2,067	(15,467)
Loss on extinguishment of debt	5,334
Credit loss expense	2,402	5,356
Deferred income taxes	281	(682)
Stock-based compensation	2,908	2,768
Installation and service parts expense	29	393
Accretion expense	53	64
Loss (gain) on disposal of assets	51	(4)
Changes in operating assets and liabilities:
Accounts receivable, net	(26,672)	(22,397)
Unbilled receivables	(859)	3,648
Prepaid expenses and other assets	(262)	2,367
Accounts payable and accrued liabilities	2,330	(11,363)
Other liabilities	459	(2,135)
Net cash provided by operating activities	9,013	14,841
Cash Flows from Investing Activities:
Purchases of installation and service parts and property and equipment	(3,704)	(8,141)
Cash proceeds from the sale of assets	56	10
Net cash used in investing activities	(3,648)	(8,131)
Cash Flows from Financing Activities:
Borrowings of long-term debt	996,750
Repayment of long-term debt	(865,642)	(21,951)
Payment of debt issuance costs	(5,732)	(806)
Payment of debt extinguishment costs	(604)
Payment of employee tax withholding related to RSUs vesting	(857)	(327)
Net cash provided by (used in) financing activities	123,915	(23,084)
Effect of exchange rate changes on cash and cash equivalents	252	(963)
Net increase (decrease) in cash, cash equivalents and restricted cash	129,532	(17,337)
Cash, cash equivalents and restricted cash - beginning of period	120,892	132,430
Cash, cash equivalents and restricted cash - end of period	250,424	115,093
Supplemental cash flow information:
Interest paid	6,996	11,822
Income taxes paid, net of refunds	238	319
Supplemental non-cash investing and financing activities:
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period-end	1,355	4,586
Accrued debt issuance costs	635
Accrued debt extinguishment costs	$ 665
Earn-out shares issued to Platinum Stockholder		$ 18,287

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	1. Description of Business Verra Mobility Corporation (collectively with its subsidiaries, the “ Company Verra Mobility Gores IPO Nasdaq On June 21, 2018, Gores entered into an Agreement and Plan of Merger (as amended, the “ Merger Agreement ”) with Greenlight Holding II Corporation, PE Greenlight Holdings, LLC, AM Merger Sub I, Inc., a direct, wholly-owned subsidiary of Gores and AM Merger Sub II, LLC, a direct, wholly-owned subsidiary of Gores. On October 17, 2018, the transactions contemplated by the Merger Agreement (the “ Business Combination ”) were consummated. In connection with the closing of the Business Combination, Gores changed its name to Verra Mobility Corporation. As a result of the Business Combination, Verra Mobility Corporation became the owner, directly or indirectly, of all of the equity interests of Verra Mobility Holdings, LLC and its subsidiaries. Verra Mobility offers integrated technology solutions and services to commercial fleets, rental car companies and state and local governments. The Company has customers located throughout the United States, Canada and Europe. The Company is organized into two operating segments: Commercial Services and Government Solutions (see Note 13). The Commercial Services segment offers toll and violation management solutions for the commercial fleet and rental car industries by partnering with the leading fleet management and rental car companies in North America. Electronic toll payment services enable fleet drivers and rental car customers to use high-speed cashless toll lanes or all-electronic cashless toll roads. The service helps commercial fleets reduce toll management costs, while it provides rental car companies with a revenue-generating, value-added service for their customers. Electronic violation processing services reduce the cost and risk associated with vehicle-issued violations, such as toll, parking or camera-enforced tickets. Title and registration services offer title and registration processing for individuals, rental car companies and fleet management companies. In Europe, the Company provides violations processing through Euro Parking Collection plc (“ EPC Pagatelia The Government Solutions segment provides complete, end-to-end speed, red-light, school bus stop arm and bus lane enforcement solutions. The Company’s programs are designed to reduce traffic violations and resulting collisions, injuries, and fatalities. The Company implements and administers traffic safety programs for municipalities, counties, school districts and law enforcement agencies of all sizes.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	2 . Significant Accounting Policies Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company prepared in accordance with generally accepted accounting principles in the United States of America (“ GAAP Restatement of Previously Issued Condensed Consolidated Financial Statements The notes included herein should be read in conjunction with the Company’s restated audited consolidated financial statements included in the Company’s Annual Report on Form 10-K/A filed with the SEC on May 14, 2021 (the “ 2020 Form 10-K/A We restated the Company’s previously issued consolidated financial statements as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018 and the related quarterly financial information to reflect adjustments resulting from changes to our accounting for private placement warrants. The impact of the restatement to the three months ended March 31, 2020 was an increase to net income of $15.5 million, an increase to private placement warrant liabilities of $14.3 million, with offsetting decreases of $20.4 million to additional paid-in capital and $6.1 million to accumulated deficit line items. There was no net cash impact to the condensed consolidated statements of cash flows. Use of Estimates The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited interim condensed consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include the fair values assigned to net assets acquired (including identifiable intangibles) in business combinations, the carrying amounts of long-lived assets and goodwill, the allowance for credit loss, fair value of private placement warrant liabilities, valuation allowances on deferred tax assets, asset retirement obligations, contingent consideration and the recognition and measurement of loss contingencies. Management believes that its estimates and assumptions are reasonable in the circumstances; however, actual results could differ materially from those estimates. Concentration of Credit Risk Significant customers are those which represent more than 10% of the Company’s total revenue and accounts receivable. Revenue from one of the Government Solutions customers as a percent of total revenue is presented below: Three Months Ended March 31, 2021 2020 City of New York Department of Transportation 24.4 % 25.5 % As of March 31, 2021, the City of New York Department of Transportation (“ NYCDOT Legacy Contract Emergency Contract $41.3 $33.1 $52.6 $26.8 amounts are deemed collectible based on current conditions and expectations. Please also see section entitled “ Risk Factors .” Significant customer revenue generated through the Company’s Commercial Services partners as a percent of total revenue is presented below: Three Months Ended March 31, 2021 2020 Hertz Corporation 13.8 % 15.7 % Avis Budget Group, Inc. 11.2 % 12.7 % Enterprise Holdings, Inc. 14.5 % 10.8 % Allowance for Credit Loss The Company reviews historical credit losses and customer payment trends on receivables and develops loss rate estimates as of the balance sheet date, which includes adjustments for future expectations using probability-weighted assumptions about potential outcomes. Receivables are written off against the allowance for credit loss when it is probable that amounts will not be collected based on the terms of the customer contracts, and subsequent recoveries reverse the previous write-off and apply to the receivable in the period recovered. No interest or late fees are charged on delinquent accounts. The Company identified portfolio segments based on the type of business, industry in which the customer operates and historical credit loss patterns. The following presents the activity in the allowance for credit loss for the three months ended March 31, 2021 and 2020, respectively: ($ in thousands) Commercial Services (Driver-billed) (1) Commercial Services (All other) Government Solutions Total Balance at January 1, 2021 $ 3,210 $ 4,277 $ 3,984 $ 11,471 Credit loss expense 2,252 143 7 2,402 Write-offs, net of recoveries (1,722 ) 2 (21 ) (1,741 ) Balance at March 31, 2021 $ 3,740 $ 4,422 $ 3,970 $ 12,132 ($ in thousands) Commercial Services (Driver-billed) (1) Commercial Services (All other) Government Solutions Total Balance at January 1, 2020 (2) $ 5,733 $ 945 $ 1,778 $ 8,456 Credit loss expense 1,925 2,731 700 5,356 Write-offs, net of recoveries (2,220 ) (311 ) (435 ) (2,966 ) Balance at March 31, 2020 $ 5,438 $ 3,365 $ 2,043 $ 10,846 (1) (2) The Company adjusted down its estimate for credit loss for the three months ended March 31, 2021 to reflect the risk of loss based on customer payment rates in the last 12 months and improved economic conditions for the Commercial Services (All other) and Government Solutions portfolio segments. The Company’s methodology for the Commercial Services (Driver-billed) portfolio segment has not changed. The credit loss estimate for the three months ended March 31, 2020 was based on higher probabilities of loss given the uncertainty caused by COVID-19 on the travel industry. The Company periodically evaluates the adequacy of its allowance for expected credit losses by comparing its actual historical write-offs to its previously recorded estimates and adjusts appropriately. Warrants As of March 31, 2021, there were warrants outstanding to acquire 19,999,967 shares of the Company’s Class A Common Stock including: (i) 6,666,666 warrants originally issued to Gores Sponsor II, LLC in a private placement in connection with the IPO (the “ Private Placement Warrants Public Warrants Warrants The Warrants became exercisable on November 16, 2018, 30 days following the completion of the Business Combination, and expire five years after that date, or earlier upon redemption or liquidation. The Company may redeem the outstanding Warrants at a price of $0.01 per warrant, if the last sale price of its Class A Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30 trading day period ending on the third business day before it sends the notice of redemption to the Warrant holders. The Private Placement Warrants, however, are nonredeemable so long as they are held by Gores Sponsor II, LLC or its permitted transferees. The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance under FASB ASC 480, Distinguishing Liabilities from Equity (“ ASC 480 ASC 815 For warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The Company’s Public Warrants meet the criteria for equity classification and accordingly, are reported as component of shareholders’ equity while the Company’s Private Placement Warrants do not meet the criteria for equity classification because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares and are instead classified as a liability. The fair value of the Private Placement Warrants is estimated at period-end using a Black-Scholes option pricing model. Shares issuable under the Warrants were considered for inclusion in the diluted share count in accordance with GAAP. As the shares issuable under the Warrants are issuable shares when exercised by the holders, they are included when computing diluted (loss) income per share, if such exercise is dilutive to (loss) income per share. Recent Accounting Pronouncements Accounting Standards Adopted In August 2018, the Financial Accounting Standards Board (“ FASB ASU (Topic 820) Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement Fair Value of Financial Instruments. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. Reference Rate Reform (Topic 848): Scope affected by the discounting transition. The amendments are effective as of March 12, 2020 through December 31, 2022, to help stakeholders during the global market-wide reference rate transition period. The impact of the implementation of this guidance is still being determined by the Company.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2021
Prepaid Expense And Other Assets Current [Abstract]
Prepaid Expenses and Other Current Assets	3 . Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following at: ($ in thousands) March 31, 2021 December 31, 2020 Prepaid tolls $ 6,571 $ 9,237 Prepaid income taxes 5,285 2,354 Prepaid services 3,375 2,989 Deposits 3,168 3,474 Prepaid computer maintenance 2,761 2,732 Prepaid insurance 1,717 2,641 Other 1,632 890 Total prepaid expenses and other current assets $ 24,509 $ 24,317

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	4 . Goodwill and Intangible Assets The following table presents the changes in the carrying amount of goodwill by reportable segment: Commercial Government ($ in thousands) Services Solutions Total Balance at December 31, 2020 $ 426,689 $ 159,746 $ 586,435 Foreign currency translation adjustment (215 ) — (215 ) Balance at March 31, 2021 $ 426,474 $ 159,746 $ 586,220 Intangible assets consist of the following as of the respective period-ends: March 31, 2021 December 31, 2020 Weighted Weighted Average Gross Average Gross Remaining Carrying Accumulated Remaining Carrying Accumulated ($ in thousands) Useful Life Amount Amortization Useful Life Amount Amortization Trademarks 0.1 years $ 32,199 $ 31,093 0.3 years $ 32,223 $ 29,358 Non-compete agreements 1.8 years 62,570 40,554 2.0 years 62,589 37,412 Customer relationships 5.6 years 367,440 134,072 5.9 years 367,512 123,784 Developed technology 2.1 years 166,051 103,392 2.3 years 166,217 95,848 Gross carrying value of intangible assets 628,260 $ 309,111 628,541 $ 286,402 Less: accumulated amortization (309,111 ) (286,402 ) Intangible assets, net $ 319,149 $ 342,139 The amortization expense was $22.7 million and $23.5 million for the three months ended March 31, 2021 and 2020, respectively. Estimated amortization expense in future years is expected to be: ($ in thousands) Remainder of 2021 $ 63,193 2022 81,143 2023 52,447 2024 41,953 2025 39,255 Thereafter 41,158 Total $ 319,149

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2021
Payables And Accruals [Abstract]
Accrued Liabilities	5 . Accrued Liabilities Accrued liabilities consist of the following at: ($ in thousands) March 31, 2021 December 31, 2020 Accrued salaries and wages $ 6,160 $ 4,432 Current portion of operating lease liabilities 3,157 3,179 Advanced deposits payable 2,544 2,922 Payroll liabilities 1,844 1,755 Self-insurance liability 903 682 Restricted cash due to customers 819 633 Other 1,967 2,033 Total accrued liabilities $ 17,394 $ 15,636

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-term Debt	6 . Long-term Debt The following table provides a summary of the Company’s long-term debt at: ($ in thousands) March 31, 2021 December 31, 2020 2021 Term Loan, due 2028 $ 650,000 $ — Senior Notes, due 2029 350,000 — 2018 Term Loan — 865,642 Less: original issue discounts (6,247 ) (3,952 ) Less: unamortized deferred financing costs (21,308 ) (19,645 ) Total long-term debt 972,445 842,045 Less: current portion of long-term debt (6,500 ) (9,104 ) Total long-term debt, net of current portion $ 965,945 $ 832,941 2021 Term Loan and Senior Notes In March 2021, VM Consolidated, Inc., the Company’s wholly owned subsidiary, entered into an Amendment and Restatement Agreement No.1 to the First Lien Term Loan Credit Agreement (the “ 2021 Term Loan ”) with a syndicate of lenders. The 2021 Term Loan has an aggregate borrowing of $650 million, maturing on March 26, 2028, and an accordion feature providing for an additional $250 million of term loans, subject to satisfaction of certain requirements. In connection with the 2021 Term Loan, the Company had an offering discount cost of $3.3 million and $0.7 million of deferred financing costs, both of which were capitalized and are amortized over the remaining life of the 2021 Term Loan. In addition, in March 2021, VM Consolidated, Inc. Senior Notes The net proceeds from both the 2021 Term Loan and the Senior Notes were used to repay in full all outstanding debt which was represented by the existing First Lien Term Loan Credit Agreement (as amended, the “ 2018 Term Loan The 2021 Term Loan is repayable at 1.0% per annum of the amount initially borrowed, paid in quarterly installments. It bears interest based, at the Company’s option, on either (1) LIBOR plus an applicable margin of 3.25% per annum, or (2) an alternate base rate plus an applicable margin of 2.25% per annum. As of March 31, 2021, the interest rate on the 2021 Term Loan was 3.45%. In addition, the 2021 Term Loan requires mandatory prepayments equal to the product of the excess cash flows of the Company (as defined in the 2021 Term Loan agreement) and the applicable prepayment percentages (calculated as of the last day of the fiscal year, beginning with the year ending December 31, 2022), as set forth in the following table: Consolidated first lien net leverage ratio (as defined by the 2021 Term Loan agreement) Applicable prepayment percentage > 3.70:1.00 50% < 25% < 0% Interest on the Senior Notes is fixed at 5.50% per annum and is payable on April 15 and October 15 of each year (beginning on October 15, 2021). On or after April 15, 2024, the Company may redeem all or a portion of the Senior Notes at the redemption prices set forth below in percentages by year, plus accrued and unpaid interest: Year Percentage 2024 102.750% 2025 101.375% 2026 and thereafter 100.000% In addition, the Company may redeem up to 40% of the Senior Notes before April 15, 2024, with the net cash proceeds from certain equity offerings. The Company evaluated the refinancing transactions on a lender by lender basis and accounted for the portion of the transaction that did not meet the accounting criteria for debt extinguishment as a debt modification. Accordingly, the Company recognized a loss on extinguishment of debt of $5.3 $4.0 $1.3 The Revolver The Company has a Revolving Credit Agreement (the “ Revolver The Revolver matures on February 28, 2023. The terms of the Revolver were not affected by the new debt instruments entered into in March 2021 discussed above. Borrowing eligibility under the Revolver is subject to a monthly borrowing base calculation based on (i) certain percentages of eligible accounts receivable and inventory, less (ii) certain reserve items, including outstanding letters of credit and other reserves. The Revolver bears interest on either (1) LIBOR plus an applicable margin, or (2) an alternate base rate, plus an applicable margin. The margin percentage applied to (1) LIBOR is either 1.25%, 1.50%, or 1.75%, or (2) the base rate is either 0.25%, 0.50%, or 0.75%, depending on the Company’s average availability to borrow under the commitment. At March 31, 2021, the Company had no outstanding borrowings on the Revolver and availability to borrow was million, net of million of outstanding letters of credit. Interest on the unused portion of the Revolver is payable quarterly at 0.375% and the Company is also required to pay participation and fronting fees at 1.38% on $6.2 All borrowings and other extensions of credits under the 2021 Term Loan, Senior Notes and the Revolver are subject to the satisfaction of customary conditions and restrictive covenants including absence of defaults and accuracy in material respects of representations and warranties. At March 31, 2021, the Company was compliant with all debt covenants. Substantially all of the Company’s assets are pledged as collateral to secure the Company’s indebtedness under the 2021 Term Loan . Interest expense The Company recorded interest expense, including amortization of deferred financing costs and discounts, of $9.2 $12.5 The weighted average effective interest rates on the Company’s outstanding borrowings were 4.2% and 3.4% at March 31, 2021 and December 31, 2020, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	7 . Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurement, Level 1 – Fair value is based on observable inputs such as quoted prices for identical assets or liabilities in active markets. Level 2 – Fair value is determined using quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or inputs other than quoted prices that are directly or indirectly observable. Level 3 – Fair value is determined using one or more significant inputs that are unobservable in active markets at the measurement date, such as a pricing model, discounted cash flow, or similar technique. The carrying amounts reported in the Company’s condensed consolidated balance sheets for cash, accounts receivable, accounts payable and accrued expenses approximate fair value due to the immediate to short-term maturity of these financial instruments. The estimated fair value of the Company’s long-term debt was calculated based upon available market information. The carrying value and the estimated fair value of long-term debt is as follows: Level in March 31, 2021 December 31, 2020 Fair Value Carrying Estimated Carrying Estimated ($ in thousands) Hierarchy Amount Fair Value Amount Fair Value 2021 Term Loan 2 $ 650,000 $ 650,000 $ — $ — Senior Notes 2 350,000 360,063 — — 2018 Term Loan 2 — — 842,045 861,314 The fair value of the private placement warrant liabilities is measured on a recurring basis and is estimated using the Black-Scholes option pricing model using significant unobservable inputs, primarily related to estimated volatility, and is therefore classified within level 3 of the fair value hierarchy. The key assumptions used were as follows: March 31, 2021 December 31, 2020 Stock price $ 13.54 $ 13.42 Strike price $ 11.50 $ 11.50 Volatility 49.0 % 44.0 % Remaining life (in years) 2.6 2.8 Risk-free interest rate 0.26 % 0.16 % Expected dividend yield 0.0 % 0.0 % Estimated fair value $ 4.94 $ 4.63 The following summarizes the change in the private placement warrant liabilities for the respective periods: Three Months Ended March 31, ($ in thousands) 2021 2020 Beginning balance (as restated) $ 30,866 $ 29,733 Change in fair value included in net (loss) income 2,067 (15,467 ) Ending balance $ 32,933 $ 14,266

Net (Loss) Income Per Share

Net (Loss) Income Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	8 . Net (Loss) Income Per Share Basic net (loss) income per share is calculated by dividing net (loss) income by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net (loss) income per share is calculated by adjusting the weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method. The components of basic and diluted net (loss) income per share are as follows: Three Months Ended March 31, 2021 2020 (In thousands, except per share data) (As restated) Numerator: Net (loss) income $ (8,915 ) $ 22,140 Denominator: Weighted average shares - basic 162,297 160,924 Common stock equivalents — 3,503 Weighted average shares - diluted 162,297 164,427 Net (loss) income per share - basic $ (0.05 ) $ 0.14 Net (loss) income per share - diluted $ (0.05 ) $ 0.04 Antidilutive shares excluded from diluted net (loss) income per share (1) Contingently issuable shares (2) 5,000 5,000 Public warrants 13,333 — Private placement warrants 6,667 — Non-qualified stock options 1,205 705 Performance share units 229 116 Restricted stock units 2,582 28 Total antidilutive shares excluded 29,016 5,849 (1) These amounts represent outstanding shares as of the three months ended March 31, 2021 and 2020. (2) Contingently issuable shares relate to the earn-out agreement as discussed in Note 11, Related Party Transactions

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	9 . Income Taxes The Company’s interim income tax (benefit) provision is determined using an estimated annual effective tax rate, adjusted for discrete items arising in that period. The estimated annual effective tax rate requires judgment and is dependent upon several factors. The Company provides for income taxes under the liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of differences between the tax basis of assets or liabilities and their carrying amounts in the financial statements. The Company provides a valuation allowance for deferred tax assets if it is more likely than not that these items will expire before the Company is able to realize their benefit. The Company calculates the valuation allowance in accordance with the authoritative guidance relating to income taxes, which requires an assessment of both positive and negative evidence regarding the realizability of these deferred tax assets, when measuring the need for a valuation allowance. Significant judgment is required in determining any valuation allowance against deferred tax assets. In December 2019, COVID-19 emerged and spread throughout the world causing severe disruption to the global economy. In March 2020, the Coronavirus Aid, Relief, and Economic Security Act (“ CARES Act The Company’s effective income tax benefit rate was 24.5% for the three months ended March 31, 2021 and the effective income tax rate was 12.7% for the three months ended March 31, 2020. The effective tax rate change was primarily due to the Company’s permanent differences related to the mark-to-market adjustment on the private placement warrants, which had a lesser impact on the effective tax rate The total amount of unrecognized tax benefits increased by $0.2 million during the quarter primarily due to prior year tax positions. As of March 31, 2021, the total amount of unrecognized tax benefits was $1.1 million, of which $0.5 million would affect the Company’s effective tax rate if recognized. The Company recognizes interest and penalties related to unrecognized tax benefits through income tax expense. As of March 31, 2021, we had less than $0.1 million accrued for the payment of interest and penalties. The Company is subject to examination by the Internal Revenue Service and taxing authorities in various states. The Company’s U.S. federal income tax returns remain subject to examination by tax authorities for the years 2017 to 2019. The Company’s state income tax returns are no longer subject to income tax examination by tax authorities prior to 2016; however, the Company’s net operating loss carryforwards and research credit carryforwards arising prior to that year are subject to adjustment. The Company is currently under audit by the State of Georgia for the years 2018 and 2019, however, no material adjustments are anticipated. The Company regularly assesses the likelihood of tax deficiencies in each of the tax jurisdictions and, accordingly, makes appropriate adjustments to the tax provision as deemed necessary.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	1 0 . Stock-Based Compensation The following details the components of stock-based compensation for the periods presented: Three Months Ended March 31, ($ in thousands) 2021 2020 Operating expenses $ 194 $ 220 Selling, general and administrative expenses 2,714 2,548 Total stock-based compensation expense $ 2,908 $ 2,768

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	1 1 . Related Party Transactions Tax Receivable Agreement At the closing of the Business Combination, the Company entered into the Tax Receivable Agreement (“ TRA Platinum Stockholder At March 31, 2021 Earn-Out Agreement Under the Merger Agreement, the Platinum Stockholder is entitled to receive additional shares of Class A Common Stock (the “ Earn-Out Shares” ) if the volume weighted average closing sale price of one share of Class A Common Stock on the Nasdaq exceeds certain thresholds for a period of at least 10 days out of 20 consecutive trading days at any time during the five-year Business Combination (the “ Common Stock Price ”). The Earn-Out Shares are issued by the Company to the Platinum Stockholder as follows: Common Stock Price thresholds One-time issuance of shares > $13.00 (a) 2,500,000 > $15.50 (a) 2,500,000 > $18.00 2,500,000 > $20.50 2,500,000 (a) If any of the Common Stock Price thresholds above (each, a “ Triggering Event ”) are not achieved within the five-year period following the closing of the Business Combination , the Company will not be required to issue the Earn-Out Shares in respect of such Common Stock Price threshold. In no event shall the Platinum Stockholder be entitled to receive more than an aggregate of 10,000,000 Earn-Out Shares. If, during the earn-out period, there is a change of control (as defined in the Merger Agreement) that will result in the holders of the Company’s Class A Common Stock receiving a per share price equal to or in excess of the applicable Common Stock Price required in connection with any Triggering Event (an “ Acceleration Event ”), then immediately prior to the consummation of such change of control: (a) any such Triggering Event that has not previously occurred shall be deemed to have occurred; and (b) the Company shall issue the applicable Earn-Out Shares to the cash consideration stockholders (as defined in the Merger Agreement) (in accordance with their respective pro rata cash share), and the recipients of the issued Earn-Out Shares shall be eligible to participate in such change of control. The Company estimated the original fair value of the contingently issuable shares to be $73.15 million, of which $36.6 million remains contingently issuable as of March 31, 2021. The estimated value is not subject to future revisions during the five-year period discussed above. The Company used a Monte Carlo simulation option-pricing model to arrive at its original estimate. Each tranche was valued separately giving specific consideration to the tranche’s price target. The simulation considered volatility and risk-free rates utilizing a peer group based on a five-year This was initially recorded as a distribution to shareholders and was presented as common stock contingent consideration. Upon the occurrence of a Triggering Event, any issuable shares would be transferred from common stock contingent consideration to common stock and additional paid-in capital accounts. Any contingently issuable shares not issued as a result of a Triggering Event not being attained by the end of earn-out period will be canceled. On April 26, 2019 and on January 27, 2020, the Triggering Events for the issuance of the first and second tranches of Earn-Out Shares occurred, as the volume weighted average closing sale price per share of the Company’s Class A Common Stock as of that date had been greater than $13.00 and $15.50, respectively, for 10 out of 20 consecutive trading days. These Triggering Events resulted in the issuance of an aggregate 5,000,000 shares of the Company’s Class A Common Stock to the Platinum Stockholder and an increase in the Company’s common stock and additional paid-in capital accounts of $36.6 million, with a corresponding decrease to the common stock contingent consideration account. At March 31, 2021, the potential future Earn-Out Shares issuable are between zero and 5.0 million.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	1 2 . Commitments and Contingencies The Company has issued various letters of credit under contractual arrangements with certain of its vendors and customers. Outstanding letters of credit under these arrangements totaled $6.2 million at March 31, 2021. The Company has non-cancelable purchase commitments to certain vendors. The aggregate non-cancelable purchase commitments outstanding at March 31, 2021 were $32.3 million. The Company is subject to tax audits in the normal course of business and does not have material contingencies recorded related to such audits. The Company accrues for claims and contingencies when losses become probable and reasonably estimable. As of the end of each applicable reporting period, the Company reviews each of its matters and, where it is probable that a liability has been or will be incurred, the Company accrues for all probable and reasonably estimable losses. Where the Company can reasonably estimate a range of loss it may incur regarding such a matter, the Company records an accrual for the amount within the range that constitutes its best estimate. If the Company can reasonably estimate a range but no amount within the range appears to be a better estimate than any other, the Company uses the amount that is the low end of such range. NYC Investigation In January 2021, the New York City Law Department advised the Company that the City of New York was investigating certain matters related to the Company’s installation work for its largest customer, NYCDOT. We were informed in March 2021 by the NYC Law Department that it had concluded its investigation, and we reached an agreement in principle to resolve the matter for approximately $1.3 million, subject to final administrative approvals. Customer Guarantee In the ordinary course of business, the Company occasionally employs contract terms that mitigate the customer’s risk of aggregate revenue decline in connection with the customer’s adoption of additional or changes to service models within its existing portfolio. These agreements require the customer to satisfy numerous conditions to trigger payment, including volume metrics and other operational requirements. The Company had one such guarantee outstanding for the one-year Legal Proceedings The Company is subject to legal and regulatory actions that arise from time to time in the ordinary course of business. The Company records a liability when it believes it is probable a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. The assessment as to whether a loss is probable, reasonably possible or remote, and as to whether a loss or a range of such loss is estimable, often involves significant judgment about future events. The Company has determined that resolution of pending matters is not probable to have a material adverse impact on its results of operations, cash flows, or financial position, and accordingly, no material contingency accruals are recorded. However, the outcome of litigation is inherently uncertain. As additional information becomes available, the Company reassesses the potential liability.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	1 3 . Segment Reporting The Company has two operating and reportable segments, Commercial Services and Government Solutions. Commercial Services offers toll and violation management solutions and title and registration services to commercial fleet vehicle owners, rental car companies and violation issuing authorities. Government Solutions implements and administers traffic safety programs and products for municipalities and local government agencies of all sizes. The Company’s Chief Operating Decision Maker function (“ CODM ”) is comprised of the Company’s CEO and certain defined representatives of the Company’s executive management team. The Company’s CODM monitors operating performance, allocates resources and deploys capital based on these Segment performance is based on revenues and income from operations before depreciation, amortization, gain (loss) on disposal of assets, net, and stock-based compensation. The measure also excludes interest expense, net, income taxes and certain other transactions and is inclusive of other income, net. The tables below refer to this measure as segment profit (loss). The aforementioned items are not indicative of operating performance, and, as a result are not included in the measures that are reviewed by the CODM for the segments. Other income, net consists primarily of credit card rebates earned on the prepayment of tolling transactions and is therefore included in segment profit (loss). There are no significant non-cash items reported in segment profit (loss). The following tables set forth financial information by segment for the three months ended March 31, 2021 and 2020, respectively: For the Three Months Ended March 31, 2021 Commercial Government Corporate ($ in thousands) Services Solutions and Other Total Service revenue $ 45,689 $ 44,074 $ — $ 89,763 Product sales — 95 — 95 Total revenue 45,689 44,169 — 89,858 Cost of service revenue 531 349 — 880 Cost of product sales — 27 — 27 Operating expenses 14,206 16,092 — 30,298 Selling, general and administrative expenses 10,792 10,811 4,126 25,729 Other income, net (2,070 ) (943 ) — (3,013 ) Segment profit (loss) $ 22,230 $ 17,833 $ (4,126 ) $ 35,937 Segment profit (loss) $ 22,230 $ 17,833 $ (4,126 ) $ 35,937 Depreciation and amortization — — 28,214 28,214 Loss on disposal of assets, net — 51 — 51 Change in fair value of private placement warrants — — 2,067 2,067 Stock-based compensation — — 2,908 2,908 Interest expense, net — — 9,164 9,164 Loss on extinguishment of debt — — 5,334 5,334 Income (loss) before income tax benefit $ 22,230 $ 17,782 $ (51,813 ) $ (11,801 ) For the Three Months Ended March 31, 2020 Commercial Government Corporate Services Solutions and Other Total ($ in thousands) (As restated) (As restated) Service revenue $ 61,242 $ 38,255 $ — $ 99,497 Product sales — 17,216 — 17,216 Total revenue 61,242 55,471 — 116,713 Cost of service revenue 807 412 — 1,219 Cost of product sales — 8,690 — 8,690 Operating expenses 16,530 15,509 — 32,039 Selling, general and administrative expenses 13,384 9,669 285 23,338 Other income, net (2,889 ) (36 ) — (2,925 ) Segment profit (loss) $ 33,410 $ 21,227 $ (285 ) $ 54,352 Segment profit (loss) $ 33,410 $ 21,227 $ (285 ) $ 54,352 Depreciation and amortization — — 29,250 29,250 Gain on disposal of assets, net — (4 ) — (4 ) Change in fair value of private placement warrants — — (15,467 ) (15,467 ) Stock-based compensation — — 2,768 2,768 Interest expense, net — — 12,451 12,451 Income (loss) before income tax provision $ 33,410 $ 21,231 $ (29,287 ) $ 25,354

Guarantor_Non-Guarantor Financi

Guarantor/Non-Guarantor Financial Information	3 Months Ended
	Mar. 31, 2021
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Guarantor/Non-Guarantor Financial Information	1 4 . Guarantor/Non-Guarantor Financial Information VM Consolidated, Inc., a wholly owned subsidiary of the Company, is the lead borrower of the 2021 Term Loan, Senior Notes and the Revolver. VM Consolidated, Inc. is owned by the Company through a series of holding companies that ultimately end with the Company. VM Consolidated, Inc. is wholly-owned by Greenlight Acquisition Corporation The following financial information presents the condensed consolidated balance sheets as of March 31, 2021 and the related condensed consolidated statements of operations and comprehensive loss and condensed consolidated statements of cash flows for the three months ended March 31, 2021 for the Company, combined guarantor subsidiary and combined non-guarantor subsidiaries. Verra Mobility Corporation and Subsidiaries Condensed Consolidated Balance Sheets at March 31, 2021 (Unaudited) ($ in thousands) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ 233,296 $ 16,309 $ — $ 249,605 Restricted cash — 819 — — 819 Accounts receivable (net of allowance for credit loss of $12.1 million ) — 191,190 1,795 — 192,985 Unbilled receivables — 14,481 400 — 14,881 Investment in subsidiary 139,259 73,936 — (213,195 ) — Prepaid expenses and other current assets — 21,932 2,577 — 24,509 Total current assets 139,259 535,654 21,081 (213,195 ) 482,799 Installation and service parts, net — 8,597 — — 8,597 Property and equipment, net — 64,897 2,844 — 67,741 Operating lease assets — 29,879 293 — 30,172 Intangible assets, net — 293,988 25,161 — 319,149 Goodwill — 524,766 61,454 — 586,220 Due from affiliates 169,259 — — (169,259 ) — Other non-current assets — 2,520 15 — 2,535 Total assets $ 308,518 $ 1,460,301 $ 110,848 $ (382,454 ) $ 1,497,213 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 30,256 $ 11,078 $ — $ 41,334 Accrued liabilities — 13,739 3,655 — 17,394 Payable to related party pursuant to tax receivable agreement, current portion — 5,202 — — 5,202 Current portion of long-term debt — 6,500 — — 6,500 Total current liabilities — 55,697 14,733 — 70,430 Long-term debt, net of current portion — 965,945 — — 965,945 Operating lease liabilities, net of current portion — 28,358 89 — 28,447 Payable to related party pursuant to tax receivable agreement, net of current portion — 62,667 — — 62,667 Private placement warrant liabilities — 32,933 — — 32,933 Due to affiliates — 151,526 17,733 (169,259 ) — Asset retirement obligation — 6,406 — — 6,406 Deferred tax liabilities, net — 16,959 4,357 — 21,316 Other long-term liabilities — 551 — — 551 Total liabilities — 1,321,042 36,912 (169,259 ) 1,188,695 Total stockholders' equity 308,518 139,259 73,936 (213,195 ) 308,518 Total liabilities and stockholders' equity $ 308,518 $ 1,460,301 $ 110,848 $ (382,454 ) $ 1,497,213 Verra Mobility Corporation and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss Three Months Ended March 31, 2021 (Unaudited) ($ in thousands) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Service revenue $ — $ 87,003 $ 2,760 $ — $ 89,763 Product sales — 95 — — 95 Total revenue — 87,098 2,760 — 89,858 Cost of service revenue — 395 485 — 880 Cost of product sales — 27 — — 27 Operating expenses — 28,083 2,409 — 30,492 Selling, general and administrative expenses — 27,423 1,020 — 28,443 Depreciation, amortization and (gain) loss on disposal of assets, net — 27,218 1,047 — 28,265 Total costs and expenses — 83,146 4,961 — 88,107 Income (loss) from operations — 3,952 (2,201 ) — 1,751 Loss from equity investment 8,915 1,869 — (10,784 ) — Interest expense, net — 9,164 — — 9,164 Change in fair value of private placement warrants — 2,067 — — 2,067 Loss on extinguishment of debt — 5,334 — — 5,334 Other income, net — (3,014 ) 1 — (3,013 ) Total other expenses 8,915 15,420 1 (10,784 ) 13,552 Loss before income tax benefit (8,915 ) (11,468 ) (2,202 ) 10,784 (11,801 ) Income tax benefit — (2,553 ) (333 ) — (2,886 ) Net loss $ (8,915 ) $ (8,915 ) $ (1,869 ) $ 10,784 $ (8,915 ) Other comprehensive loss: Change in foreign currency translation adjustment — — (190 ) — (190 ) Total comprehensive loss $ (8,915 ) $ (8,915 ) $ (2,059 ) $ 10,784 $ (9,105 ) Verra Mobility Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows Three Months Ended March 31, 2021 (Unaudited) ($ in thousands) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Cash Flows from Operating Activities: Net loss $ (8,915 ) $ (8,915 ) $ (1,869 ) $ 10,784 $ (8,915 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization — 27,167 1,047 — 28,214 Amortization of deferred financing costs and discounts — 1,593 — — 1,593 Change in fair value of private placement warrants — 2,067 — — 2,067 Loss on extinguishment of debt — 5,334 — — 5,334 Credit loss expense — 2,362 40 — 2,402 Deferred income taxes — 984 (703 ) — 281 Stock-based compensation — 2,908 — — 2,908 Installation and service parts expense — 29 — — 29 Accretion expense — 53 — — 53 Loss on disposal of assets — 51 — — 51 Loss from equity investment 8,915 1,869 — (10,784 ) — Changes in operating assets and liabilities: Accounts receivable, net — (26,802 ) 130 — (26,672 ) Unbilled receivables — (1,033 ) 174 — (859 ) Prepaid expenses and other assets — (395 ) 133 — (262 ) Accounts payable and accrued liabilities — 3,634 (1,304 ) — 2,330 Due to affiliates — (1,063 ) 1,063 — — Other liabilities — 459 — — 459 Net cash provided by operating activities — 10,302 (1,289 ) — 9,013 Cash Flows from Investing Activities: Purchases of installation and service parts and property and equipment — (3,548 ) (156 ) — (3,704 ) Cash proceeds from the sale of assets — 56 — — 56 Cash contribution to subsidiary — (1,212 ) — 1,212 — Net cash used in investing activities — (4,704 ) (156 ) 1,212 (3,648 ) Cash Flows from Financing Activities: Borrowings of long-term debt — 996,750 — — 996,750 Repayment of long-term debt — (865,642 ) — — (865,642 ) Payment of debt issuance costs — (5,732 ) — — (5,732 ) Payment of debt extinguishment costs — (604 ) — — (604 ) Capital contribution from VM Consolidated Inc. — — 1,212 (1,212 ) — Payment of employee tax withholding related to RSUs vesting — (857 ) — — (857 ) Net cash provided by financing activities — 123,915 1,212 (1,212 ) 123,915 Effect of exchange rate changes on cash and cash equivalents — — 252 — 252 Net increase in cash, cash equivalents and restricted cash — 129,513 19 — 129,532 Cash, cash equivalents and restricted cash - beginning of period — 104,602 16,290 — 120,892 Cash, cash equivalents and restricted cash - end of period $ — $ 234,115 $ 16,309 $ — $ 250,424 Verra Mobility Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows (Continued) Three Months Ended March 31, 2021 (Unaudited) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Supplemental cash flow information: Interest paid $ — $ 6,996 $ — $ — $ 6,996 Income taxes paid, net of refunds — 233 5 — 238 Supplemental non-cash investing and financing activities: Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period-end — 1,355 — — 1,355 Accrued debt issuance costs — 635 — — 635 Accrued debt extinguishment costs — 665 — — 665

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Event	15. Subsequent Event Pending Acquisition On January 22, 2021, the Company entered into a Scheme Implementation Agreement (the “ Scheme Agreement Redflex Scheme On April 29, 2021, the Company entered into a Deed of Amendment and Consent (the “ Scheme Amendment Price Increase On May 9, 2021, Redflex shareholders approved the Scheme, including the Price Increase. Separately, at a hearing held on May 13, 2021, the second Federal Court of Australia approved the Scheme, including a change approved by the Redflex shareholder vote that allows the regulatory approval from the General Authority for Competition in the Kingdom of Saudi Arabia (the “ GAC Approval Outside Date The aggregate consideration payable by us will be A$152.5 million, and the closing of the acquisition is projected to take place in the second or third quarter of 2021 (approximately 7 business days after receiving notification of GAC approval), subject to timely receipt of the GAC Approval.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company prepared in accordance with generally accepted accounting principles in the United States of America (“ GAAP
Restatement of Previously Issued Condensed Consolidated Financial Statements	Restatement of Previously Issued Condensed Consolidated Financial Statements The notes included herein should be read in conjunction with the Company’s restated audited consolidated financial statements included in the Company’s Annual Report on Form 10-K/A filed with the SEC on May 14, 2021 (the “ 2020 Form 10-K/A We restated the Company’s previously issued consolidated financial statements as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018 and the related quarterly financial information to reflect adjustments resulting from changes to our accounting for private placement warrants. The impact of the restatement to the three months ended March 31, 2020 was an increase to net income of $15.5 million, an increase to private placement warrant liabilities of $14.3 million, with offsetting decreases of $20.4 million to additional paid-in capital and $6.1 million to accumulated deficit line items. There was no net cash impact to the condensed consolidated statements of cash flows.
Use of Estimates	Use of Estimates The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited interim condensed consolidated financial statements and accompanying notes. Significant items subject to such estimates and assumptions include the fair values assigned to net assets acquired (including identifiable intangibles) in business combinations, the carrying amounts of long-lived assets and goodwill, the allowance for credit loss, fair value of private placement warrant liabilities, valuation allowances on deferred tax assets, asset retirement obligations, contingent consideration and the recognition and measurement of loss contingencies. Management believes that its estimates and assumptions are reasonable in the circumstances; however, actual results could differ materially from those estimates.
Concentration of Credit Risk	Concentration of Credit Risk Significant customers are those which represent more than 10% of the Company’s total revenue and accounts receivable. Revenue from one of the Government Solutions customers as a percent of total revenue is presented below: Three Months Ended March 31, 2021 2020 City of New York Department of Transportation 24.4 % 25.5 % As of March 31, 2021, the City of New York Department of Transportation (“ NYCDOT Legacy Contract Emergency Contract $41.3 $33.1 $52.6 $26.8 amounts are deemed collectible based on current conditions and expectations. Please also see section entitled “ Risk Factors .” Significant customer revenue generated through the Company’s Commercial Services partners as a percent of total revenue is presented below: Three Months Ended March 31, 2021 2020 Hertz Corporation 13.8 % 15.7 % Avis Budget Group, Inc. 11.2 % 12.7 % Enterprise Holdings, Inc. 14.5 % 10.8 %
Allowance for Credit Loss	Allowance for Credit Loss The Company reviews historical credit losses and customer payment trends on receivables and develops loss rate estimates as of the balance sheet date, which includes adjustments for future expectations using probability-weighted assumptions about potential outcomes. Receivables are written off against the allowance for credit loss when it is probable that amounts will not be collected based on the terms of the customer contracts, and subsequent recoveries reverse the previous write-off and apply to the receivable in the period recovered. No interest or late fees are charged on delinquent accounts. The Company identified portfolio segments based on the type of business, industry in which the customer operates and historical credit loss patterns. The following presents the activity in the allowance for credit loss for the three months ended March 31, 2021 and 2020, respectively: ($ in thousands) Commercial Services (Driver-billed) (1) Commercial Services (All other) Government Solutions Total Balance at January 1, 2021 $ 3,210 $ 4,277 $ 3,984 $ 11,471 Credit loss expense 2,252 143 7 2,402 Write-offs, net of recoveries (1,722 ) 2 (21 ) (1,741 ) Balance at March 31, 2021 $ 3,740 $ 4,422 $ 3,970 $ 12,132 ($ in thousands) Commercial Services (Driver-billed) (1) Commercial Services (All other) Government Solutions Total Balance at January 1, 2020 (2) $ 5,733 $ 945 $ 1,778 $ 8,456 Credit loss expense 1,925 2,731 700 5,356 Write-offs, net of recoveries (2,220 ) (311 ) (435 ) (2,966 ) Balance at March 31, 2020 $ 5,438 $ 3,365 $ 2,043 $ 10,846 (1) (2) The Company adjusted down its estimate for credit loss for the three months ended March 31, 2021 to reflect the risk of loss based on customer payment rates in the last 12 months and improved economic conditions for the Commercial Services (All other) and Government Solutions portfolio segments. The Company’s methodology for the Commercial Services (Driver-billed) portfolio segment has not changed. The credit loss estimate for the three months ended March 31, 2020 was based on higher probabilities of loss given the uncertainty caused by COVID-19 on the travel industry. The Company periodically evaluates the adequacy of its allowance for expected credit losses by comparing its actual historical write-offs to its previously recorded estimates and adjusts appropriately.
Warrants	Warrants As of March 31, 2021, there were warrants outstanding to acquire 19,999,967 shares of the Company’s Class A Common Stock including: (i) 6,666,666 warrants originally issued to Gores Sponsor II, LLC in a private placement in connection with the IPO (the “ Private Placement Warrants Public Warrants Warrants The Warrants became exercisable on November 16, 2018, 30 days following the completion of the Business Combination, and expire five years after that date, or earlier upon redemption or liquidation. The Company may redeem the outstanding Warrants at a price of $0.01 per warrant, if the last sale price of its Class A Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30 trading day period ending on the third business day before it sends the notice of redemption to the Warrant holders. The Private Placement Warrants, however, are nonredeemable so long as they are held by Gores Sponsor II, LLC or its permitted transferees. The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance under FASB ASC 480, Distinguishing Liabilities from Equity (“ ASC 480 ASC 815 For warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The Company’s Public Warrants meet the criteria for equity classification and accordingly, are reported as component of shareholders’ equity while the Company’s Private Placement Warrants do not meet the criteria for equity classification because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares and are instead classified as a liability. The fair value of the Private Placement Warrants is estimated at period-end using a Black-Scholes option pricing model. Shares issuable under the Warrants were considered for inclusion in the diluted share count in accordance with GAAP. As the shares issuable under the Warrants are issuable shares when exercised by the holders, they are included when computing diluted (loss) income per share, if such exercise is dilutive to (loss) income per share.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted In August 2018, the Financial Accounting Standards Board (“ FASB ASU (Topic 820) Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement Fair Value of Financial Instruments. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. Reference Rate Reform (Topic 848): Scope affected by the discounting transition. The amendments are effective as of March 12, 2020 through December 31, 2022, to help stakeholders during the global market-wide reference rate transition period. The impact of the implementation of this guidance is still being determined by the Company.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Concentration of Credit Risk	Revenue from one of the Government Solutions customers as a percent of total revenue is presented below: Three Months Ended March 31, 2021 2020 City of New York Department of Transportation 24.4 % 25.5 % Significant customer revenue generated through the Company’s Commercial Services partners as a percent of total revenue is presented below: Three Months Ended March 31, 2021 2020 Hertz Corporation 13.8 % 15.7 % Avis Budget Group, Inc. 11.2 % 12.7 % Enterprise Holdings, Inc. 14.5 % 10.8 %
Summary of Activity in Allowance for Credit Loss	The Company identified portfolio segments based on the type of business, industry in which the customer operates and historical credit loss patterns. The following presents the activity in the allowance for credit loss for the three months ended March 31, 2021 and 2020, respectively: ($ in thousands) Commercial Services (Driver-billed) (1) Commercial Services (All other) Government Solutions Total Balance at January 1, 2021 $ 3,210 $ 4,277 $ 3,984 $ 11,471 Credit loss expense 2,252 143 7 2,402 Write-offs, net of recoveries (1,722 ) 2 (21 ) (1,741 ) Balance at March 31, 2021 $ 3,740 $ 4,422 $ 3,970 $ 12,132 ($ in thousands) Commercial Services (Driver-billed) (1) Commercial Services (All other) Government Solutions Total Balance at January 1, 2020 (2) $ 5,733 $ 945 $ 1,778 $ 8,456 Credit loss expense 1,925 2,731 700 5,356 Write-offs, net of recoveries (2,220 ) (311 ) (435 ) (2,966 ) Balance at March 31, 2020 $ 5,438 $ 3,365 $ 2,043 $ 10,846 (1) (2)

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Prepaid Expense And Other Assets Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following at: ($ in thousands) March 31, 2021 December 31, 2020 Prepaid tolls $ 6,571 $ 9,237 Prepaid income taxes 5,285 2,354 Prepaid services 3,375 2,989 Deposits 3,168 3,474 Prepaid computer maintenance 2,761 2,732 Prepaid insurance 1,717 2,641 Other 1,632 890 Total prepaid expenses and other current assets $ 24,509 $ 24,317

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill by Reportable Segment	The following table presents the changes in the carrying amount of goodwill by reportable segment: Commercial Government ($ in thousands) Services Solutions Total Balance at December 31, 2020 $ 426,689 $ 159,746 $ 586,435 Foreign currency translation adjustment (215 ) — (215 ) Balance at March 31, 2021 $ 426,474 $ 159,746 $ 586,220
Schedule of Intangible Assets of Respective Period Ends	Intangible assets consist of the following as of the respective period-ends: March 31, 2021 December 31, 2020 Weighted Weighted Average Gross Average Gross Remaining Carrying Accumulated Remaining Carrying Accumulated ($ in thousands) Useful Life Amount Amortization Useful Life Amount Amortization Trademarks 0.1 years $ 32,199 $ 31,093 0.3 years $ 32,223 $ 29,358 Non-compete agreements 1.8 years 62,570 40,554 2.0 years 62,589 37,412 Customer relationships 5.6 years 367,440 134,072 5.9 years 367,512 123,784 Developed technology 2.1 years 166,051 103,392 2.3 years 166,217 95,848 Gross carrying value of intangible assets 628,260 $ 309,111 628,541 $ 286,402 Less: accumulated amortization (309,111 ) (286,402 ) Intangible assets, net $ 319,149 $ 342,139
Estimated Amortization Expense in Future Years	Estimated amortization expense in future years is expected to be: ($ in thousands) Remainder of 2021 $ 63,193 2022 81,143 2023 52,447 2024 41,953 2025 39,255 Thereafter 41,158 Total $ 319,149

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following at: ($ in thousands) March 31, 2021 December 31, 2020 Accrued salaries and wages $ 6,160 $ 4,432 Current portion of operating lease liabilities 3,157 3,179 Advanced deposits payable 2,544 2,922 Payroll liabilities 1,844 1,755 Self-insurance liability 903 682 Restricted cash due to customers 819 633 Other 1,967 2,033 Total accrued liabilities $ 17,394 $ 15,636

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of the Company's Long-term Debt	The following table provides a summary of the Company’s long-term debt at: ($ in thousands) March 31, 2021 December 31, 2020 2021 Term Loan, due 2028 $ 650,000 $ — Senior Notes, due 2029 350,000 — 2018 Term Loan — 865,642 Less: original issue discounts (6,247 ) (3,952 ) Less: unamortized deferred financing costs (21,308 ) (19,645 ) Total long-term debt 972,445 842,045 Less: current portion of long-term debt (6,500 ) (9,104 ) Total long-term debt, net of current portion $ 965,945 $ 832,941
Schedule of Consolidated First Lien Net Leverage Ratio and Applicable Prepayment Percentage	In addition, the 2021 Term Loan requires mandatory prepayments equal to the product of the excess cash flows of the Company (as defined in the 2021 Term Loan agreement) and the applicable prepayment percentages (calculated as of the last day of the fiscal year, beginning with the year ending December 31, 2022), as set forth in the following table: Consolidated first lien net leverage ratio (as defined by the 2021 Term Loan agreement) Applicable prepayment percentage > 3.70:1.00 50% < 25% < 0%
Summary of Senior Notes Redemption Prices Set Forth in Percentages by Year	On or after April 15, 2024, the Company may redeem all or a portion of the Senior Notes at the redemption prices set forth below in percentages by year, plus accrued and unpaid interest: Year Percentage 2024 102.750% 2025 101.375% 2026 and thereafter 100.000%

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Carrying Value and Estimated Fair Value of Long-term Debt	The carrying value and the estimated fair value of long-term debt is as follows: Level in March 31, 2021 December 31, 2020 Fair Value Carrying Estimated Carrying Estimated ($ in thousands) Hierarchy Amount Fair Value Amount Fair Value 2021 Term Loan 2 $ 650,000 $ 650,000 $ — $ — Senior Notes 2 350,000 360,063 — — 2018 Term Loan 2 — — 842,045 861,314
Key Assumptions Used for Measuring Fair Value of Private Placement Warrant Liabilities	The fair value of the private placement warrant liabilities is measured on a recurring basis and is estimated using the Black-Scholes option pricing model using significant unobservable inputs, primarily related to estimated volatility, and is therefore classified within level 3 of the fair value hierarchy. The key assumptions used were as follows: March 31, 2021 December 31, 2020 Stock price $ 13.54 $ 13.42 Strike price $ 11.50 $ 11.50 Volatility 49.0 % 44.0 % Remaining life (in years) 2.6 2.8 Risk-free interest rate 0.26 % 0.16 % Expected dividend yield 0.0 % 0.0 % Estimated fair value $ 4.94 $ 4.63
Summary of Change in the Private Placement Warrant Liabilities	The following summarizes the change in the private placement warrant liabilities for the respective periods: Three Months Ended March 31, ($ in thousands) 2021 2020 Beginning balance (as restated) $ 30,866 $ 29,733 Change in fair value included in net (loss) income 2,067 (15,467 ) Ending balance $ 32,933 $ 14,266

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Components of Basic and Diluted Net (Loss) Income Per Share	The components of basic and diluted net (loss) income per share are as follows: Three Months Ended March 31, 2021 2020 (In thousands, except per share data) (As restated) Numerator: Net (loss) income $ (8,915 ) $ 22,140 Denominator: Weighted average shares - basic 162,297 160,924 Common stock equivalents — 3,503 Weighted average shares - diluted 162,297 164,427 Net (loss) income per share - basic $ (0.05 ) $ 0.14 Net (loss) income per share - diluted $ (0.05 ) $ 0.04 Antidilutive shares excluded from diluted net (loss) income per share (1) Contingently issuable shares (2) 5,000 5,000 Public warrants 13,333 — Private placement warrants 6,667 — Non-qualified stock options 1,205 705 Performance share units 229 116 Restricted stock units 2,582 28 Total antidilutive shares excluded 29,016 5,849 (1) These amounts represent outstanding shares as of the three months ended March 31, 2021 and 2020. (2) Contingently issuable shares relate to the earn-out agreement as discussed in Note 11, Related Party Transactions

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Components of Stock Based Compensation Expense	The following details the components of stock-based compensation for the periods presented: Three Months Ended March 31, ($ in thousands) 2021 2020 Operating expenses $ 194 $ 220 Selling, general and administrative expenses 2,714 2,548 Total stock-based compensation expense $ 2,908 $ 2,768

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Summary of Earn Out Shares Issued by Company to Platinum Stockholder	The Earn-Out Shares are issued by the Company to the Platinum Stockholder as follows: Common Stock Price thresholds One-time issuance of shares > $13.00 (a) 2,500,000 > $15.50 (a) 2,500,000 > $18.00 2,500,000 > $20.50 2,500,000 (a)

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Financial Information by Segment	The following tables set forth financial information by segment for the three months ended March 31, 2021 and 2020, respectively: For the Three Months Ended March 31, 2021 Commercial Government Corporate ($ in thousands) Services Solutions and Other Total Service revenue $ 45,689 $ 44,074 $ — $ 89,763 Product sales — 95 — 95 Total revenue 45,689 44,169 — 89,858 Cost of service revenue 531 349 — 880 Cost of product sales — 27 — 27 Operating expenses 14,206 16,092 — 30,298 Selling, general and administrative expenses 10,792 10,811 4,126 25,729 Other income, net (2,070 ) (943 ) — (3,013 ) Segment profit (loss) $ 22,230 $ 17,833 $ (4,126 ) $ 35,937 Segment profit (loss) $ 22,230 $ 17,833 $ (4,126 ) $ 35,937 Depreciation and amortization — — 28,214 28,214 Loss on disposal of assets, net — 51 — 51 Change in fair value of private placement warrants — — 2,067 2,067 Stock-based compensation — — 2,908 2,908 Interest expense, net — — 9,164 9,164 Loss on extinguishment of debt — — 5,334 5,334 Income (loss) before income tax benefit $ 22,230 $ 17,782 $ (51,813 ) $ (11,801 ) For the Three Months Ended March 31, 2020 Commercial Government Corporate Services Solutions and Other Total ($ in thousands) (As restated) (As restated) Service revenue $ 61,242 $ 38,255 $ — $ 99,497 Product sales — 17,216 — 17,216 Total revenue 61,242 55,471 — 116,713 Cost of service revenue 807 412 — 1,219 Cost of product sales — 8,690 — 8,690 Operating expenses 16,530 15,509 — 32,039 Selling, general and administrative expenses 13,384 9,669 285 23,338 Other income, net (2,889 ) (36 ) — (2,925 ) Segment profit (loss) $ 33,410 $ 21,227 $ (285 ) $ 54,352 Segment profit (loss) $ 33,410 $ 21,227 $ (285 ) $ 54,352 Depreciation and amortization — — 29,250 29,250 Gain on disposal of assets, net — (4 ) — (4 ) Change in fair value of private placement warrants — — (15,467 ) (15,467 ) Stock-based compensation — — 2,768 2,768 Interest expense, net — — 12,451 12,451 Income (loss) before income tax provision $ 33,410 $ 21,231 $ (29,287 ) $ 25,354

Guarantor_Non-Guarantor Finan_2

Guarantor/Non-Guarantor Financial Information (Tables)	3 Months Ended
	Mar. 31, 2021
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Summary of Condensed Consolidated Balance Sheets	Verra Mobility Corporation and Subsidiaries Condensed Consolidated Balance Sheets at March 31, 2021 (Unaudited) ($ in thousands) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ 233,296 $ 16,309 $ — $ 249,605 Restricted cash — 819 — — 819 Accounts receivable (net of allowance for credit loss of $12.1 million ) — 191,190 1,795 — 192,985 Unbilled receivables — 14,481 400 — 14,881 Investment in subsidiary 139,259 73,936 — (213,195 ) — Prepaid expenses and other current assets — 21,932 2,577 — 24,509 Total current assets 139,259 535,654 21,081 (213,195 ) 482,799 Installation and service parts, net — 8,597 — — 8,597 Property and equipment, net — 64,897 2,844 — 67,741 Operating lease assets — 29,879 293 — 30,172 Intangible assets, net — 293,988 25,161 — 319,149 Goodwill — 524,766 61,454 — 586,220 Due from affiliates 169,259 — — (169,259 ) — Other non-current assets — 2,520 15 — 2,535 Total assets $ 308,518 $ 1,460,301 $ 110,848 $ (382,454 ) $ 1,497,213 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ — $ 30,256 $ 11,078 $ — $ 41,334 Accrued liabilities — 13,739 3,655 — 17,394 Payable to related party pursuant to tax receivable agreement, current portion — 5,202 — — 5,202 Current portion of long-term debt — 6,500 — — 6,500 Total current liabilities — 55,697 14,733 — 70,430 Long-term debt, net of current portion — 965,945 — — 965,945 Operating lease liabilities, net of current portion — 28,358 89 — 28,447 Payable to related party pursuant to tax receivable agreement, net of current portion — 62,667 — — 62,667 Private placement warrant liabilities — 32,933 — — 32,933 Due to affiliates — 151,526 17,733 (169,259 ) — Asset retirement obligation — 6,406 — — 6,406 Deferred tax liabilities, net — 16,959 4,357 — 21,316 Other long-term liabilities — 551 — — 551 Total liabilities — 1,321,042 36,912 (169,259 ) 1,188,695 Total stockholders' equity 308,518 139,259 73,936 (213,195 ) 308,518 Total liabilities and stockholders' equity $ 308,518 $ 1,460,301 $ 110,848 $ (382,454 ) $ 1,497,213
Summary of Condensed Consolidated Statements of Operations and Comprehensive Loss	Verra Mobility Corporation and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss Three Months Ended March 31, 2021 (Unaudited) ($ in thousands) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Service revenue $ — $ 87,003 $ 2,760 $ — $ 89,763 Product sales — 95 — — 95 Total revenue — 87,098 2,760 — 89,858 Cost of service revenue — 395 485 — 880 Cost of product sales — 27 — — 27 Operating expenses — 28,083 2,409 — 30,492 Selling, general and administrative expenses — 27,423 1,020 — 28,443 Depreciation, amortization and (gain) loss on disposal of assets, net — 27,218 1,047 — 28,265 Total costs and expenses — 83,146 4,961 — 88,107 Income (loss) from operations — 3,952 (2,201 ) — 1,751 Loss from equity investment 8,915 1,869 — (10,784 ) — Interest expense, net — 9,164 — — 9,164 Change in fair value of private placement warrants — 2,067 — — 2,067 Loss on extinguishment of debt — 5,334 — — 5,334 Other income, net — (3,014 ) 1 — (3,013 ) Total other expenses 8,915 15,420 1 (10,784 ) 13,552 Loss before income tax benefit (8,915 ) (11,468 ) (2,202 ) 10,784 (11,801 ) Income tax benefit — (2,553 ) (333 ) — (2,886 ) Net loss $ (8,915 ) $ (8,915 ) $ (1,869 ) $ 10,784 $ (8,915 ) Other comprehensive loss: Change in foreign currency translation adjustment — — (190 ) — (190 ) Total comprehensive loss $ (8,915 ) $ (8,915 ) $ (2,059 ) $ 10,784 $ (9,105 )
Summary of Condensed Consolidated Statements of Cash Flows	Verra Mobility Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows Three Months Ended March 31, 2021 (Unaudited) ($ in thousands) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Cash Flows from Operating Activities: Net loss $ (8,915 ) $ (8,915 ) $ (1,869 ) $ 10,784 $ (8,915 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization — 27,167 1,047 — 28,214 Amortization of deferred financing costs and discounts — 1,593 — — 1,593 Change in fair value of private placement warrants — 2,067 — — 2,067 Loss on extinguishment of debt — 5,334 — — 5,334 Credit loss expense — 2,362 40 — 2,402 Deferred income taxes — 984 (703 ) — 281 Stock-based compensation — 2,908 — — 2,908 Installation and service parts expense — 29 — — 29 Accretion expense — 53 — — 53 Loss on disposal of assets — 51 — — 51 Loss from equity investment 8,915 1,869 — (10,784 ) — Changes in operating assets and liabilities: Accounts receivable, net — (26,802 ) 130 — (26,672 ) Unbilled receivables — (1,033 ) 174 — (859 ) Prepaid expenses and other assets — (395 ) 133 — (262 ) Accounts payable and accrued liabilities — 3,634 (1,304 ) — 2,330 Due to affiliates — (1,063 ) 1,063 — — Other liabilities — 459 — — 459 Net cash provided by operating activities — 10,302 (1,289 ) — 9,013 Cash Flows from Investing Activities: Purchases of installation and service parts and property and equipment — (3,548 ) (156 ) — (3,704 ) Cash proceeds from the sale of assets — 56 — — 56 Cash contribution to subsidiary — (1,212 ) — 1,212 — Net cash used in investing activities — (4,704 ) (156 ) 1,212 (3,648 ) Cash Flows from Financing Activities: Borrowings of long-term debt — 996,750 — — 996,750 Repayment of long-term debt — (865,642 ) — — (865,642 ) Payment of debt issuance costs — (5,732 ) — — (5,732 ) Payment of debt extinguishment costs — (604 ) — — (604 ) Capital contribution from VM Consolidated Inc. — — 1,212 (1,212 ) — Payment of employee tax withholding related to RSUs vesting — (857 ) — — (857 ) Net cash provided by financing activities — 123,915 1,212 (1,212 ) 123,915 Effect of exchange rate changes on cash and cash equivalents — — 252 — 252 Net increase in cash, cash equivalents and restricted cash — 129,513 19 — 129,532 Cash, cash equivalents and restricted cash - beginning of period — 104,602 16,290 — 120,892 Cash, cash equivalents and restricted cash - end of period $ — $ 234,115 $ 16,309 $ — $ 250,424 Verra Mobility Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows (Continued) Three Months Ended March 31, 2021 (Unaudited) Verra Mobility Corporation (Ultimate Parent) VM Consolidated Inc. (Guarantor Subsidiary) Non- guarantor Subsidiaries Eliminations Consolidated Supplemental cash flow information: Interest paid $ — $ 6,996 $ — $ — $ 6,996 Income taxes paid, net of refunds — 233 5 — 238 Supplemental non-cash investing and financing activities: Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period-end — 1,355 — — 1,355 Accrued debt issuance costs — 635 — — 635 Accrued debt extinguishment costs — 665 — — 665

Description of Business - Addit

Description of Business - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of operating segments	2

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021USD ($)AgreementTradingDay$ / sharesshares	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Summary Of Significant Accounting Principles And Policies [Line Items]
Net income (loss)	$ (8,915,000)	$ 22,140,000
Additional paid-in capital	375,671,000		$ 373,620,000
Accumulated deficit	(103,765,000)		$ (94,850,000)
Revenue	89,858,000	116,713,000
Interest or late fees charged on delinquent accounts	0
Product Sales
Summary Of Significant Accounting Principles And Policies [Line Items]
Revenue	95,000	17,216,000
Service Revenue
Summary Of Significant Accounting Principles And Policies [Line Items]
Revenue	$ 89,763,000	99,497,000
City of New York Department of Transportation
Summary Of Significant Accounting Principles And Policies [Line Items]
Number of agreements | Agreement	2
City of New York Department of Transportation | Legacy Contract
Summary Of Significant Accounting Principles And Policies [Line Items]
Receivable balance	$ 41,300,000
Accounts receivable aged beyond payment terms	$ 33,100,000
Agreement payment term	45-day
City of New York Department of Transportation | Emergency Contract | Product Sales
Summary Of Significant Accounting Principles And Policies [Line Items]
Revenue	$ 52,600,000
City of New York Department of Transportation | Emergency Contract | Service Revenue
Summary Of Significant Accounting Principles And Policies [Line Items]
Revenue	$ 26,800,000
Customer Concentration Risk | Sales Revenue | Minimum
Summary Of Significant Accounting Principles And Policies [Line Items]
Concentration risk percentage	10.00%
Customer Concentration Risk | Accounts Receivable | City of New York Department of Transportation
Summary Of Significant Accounting Principles And Policies [Line Items]
Concentration risk percentage	63.00%
Customer Concentration Risk | Accounts Receivable | Minimum
Summary Of Significant Accounting Principles And Policies [Line Items]
Concentration risk percentage	10.00%
Warrants
Summary Of Significant Accounting Principles And Policies [Line Items]
Warrants exercisable date	Nov. 16, 2018
Warrant exercisable term if business combination Is completed	30 days
Warrant expiration term	5 years
Outstanding warrants to be redeemed | $ / shares	$ 0.01
Class A
Summary Of Significant Accounting Principles And Policies [Line Items]
Warrants outstanding to acquire shares | shares	19,999,967
Common stock purchase price per share | $ / shares	$ 11.50
Class A | Warrants
Summary Of Significant Accounting Principles And Policies [Line Items]
Warrants outstanding to acquire shares | shares	13,333,301
Last sale price of common stock equals or exceeds per share | $ / shares	$ 18
Number of trading days | TradingDay	20
Maximum trading days for sending notice of redemption to warrant holders | TradingDay	30
Class A | Private Placement
Summary Of Significant Accounting Principles And Policies [Line Items]
Warrants outstanding to acquire shares | shares	6,666,666
Restatement Adjustments
Summary Of Significant Accounting Principles And Policies [Line Items]
Net income (loss)		15,500,000
Private placement warrant liabilities		14,300,000
Additional paid-in capital		(20,400,000)
Accumulated deficit		$ 6,100,000

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Concentration of Credit Risk (Details) - Sales Revenue - Customer Concentration Risk	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Government Solutions | City of New York Department of Transportation
Concentration Risk [Line Items]
Concentration risk percentage	24.40%	25.50%
Commercial Services | Hertz Corporation
Concentration Risk [Line Items]
Concentration risk percentage	13.80%	15.70%
Commercial Services | Avis Budget Group, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	11.20%	12.70%
Commercial Services | Enterprise Holdings, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	14.50%	10.80%

Significant Accounting Polici_6

Significant Accounting Policies - Summary of Activity in Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Balance	$ 11,471	$ 8,456
Credit loss expense	2,402	5,356
Write-offs, net of recoveries	(1,741)	(2,966)
Balance	12,132	10,846
Commercial Services (Driver Billed)
Accounts Notes And Loans Receivable [Line Items]
Balance	3,210	5,733
Credit loss expense	2,252	1,925
Write-offs, net of recoveries	(1,722)	(2,220)
Balance	3,740	5,438
Commercial Services (All Other)
Accounts Notes And Loans Receivable [Line Items]
Balance	4,277	945
Credit loss expense	143	2,731
Write-offs, net of recoveries	2	(311)
Balance	4,422	3,365
Government Solutions
Accounts Notes And Loans Receivable [Line Items]
Balance	3,984	1,778
Credit loss expense	7	700
Write-offs, net of recoveries	(21)	(435)
Balance	$ 3,970	$ 2,043

Significant Accounting Polici_7

Significant Accounting Policies - Summary of Activity in Allowance for Credit Loss (Parenthetical) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Allowance For Doubtful Accounts Receivable Rollforward
Allowance for credit loss increase	$ 0.8

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Prepaid Expense And Other Assets Current [Abstract]
Prepaid tolls	$ 6,571	$ 9,237
Prepaid income taxes	5,285	2,354
Prepaid services	3,375	2,989
Deposits	3,168	3,474
Prepaid computer maintenance	2,761	2,732
Prepaid insurance	1,717	2,641
Other	1,632	890
Total prepaid expenses and other current assets	$ 24,509	$ 24,317

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Line Items]
Balance	$ 586,435
Foreign currency translation adjustment	(215)
Balance	586,220
Commercial Services
Goodwill [Line Items]
Balance	426,689
Foreign currency translation adjustment	(215)
Balance	426,474
Government Solutions
Goodwill [Line Items]
Balance	159,746
Balance	$ 159,746

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Gross Carrying Amount and Accumulated Amortization of Separately Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 628,260	$ 628,541
Accumulated Amortization	309,111	286,402
Less: accumulated amortization	(309,111)	(286,402)
Intangible assets, net	$ 319,149	$ 342,139
Trademarks
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	1 month 6 days	3 months 18 days
Gross Carrying Amount	$ 32,199	$ 32,223
Accumulated Amortization	31,093	29,358
Less: accumulated amortization	$ (31,093)	$ (29,358)
Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	1 year 9 months 18 days	2 years
Gross Carrying Amount	$ 62,570	$ 62,589
Accumulated Amortization	40,554	37,412
Less: accumulated amortization	$ (40,554)	$ (37,412)
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	5 years 7 months 6 days	5 years 10 months 24 days
Gross Carrying Amount	$ 367,440	$ 367,512
Accumulated Amortization	134,072	123,784
Less: accumulated amortization	$ (134,072)	$ (123,784)
Developed Technology
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	2 years 1 month 6 days	2 years 3 months 18 days
Gross Carrying Amount	$ 166,051	$ 166,217
Accumulated Amortization	103,392	95,848
Less: accumulated amortization	$ (103,392)	$ (95,848)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 22.7	$ 23.5

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Amortization Expense in Future Years (Details) $ in Thousands	Mar. 31, 2021USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 63,193
2022	81,143
2023	52,447
2024	41,953
2025	39,255
Thereafter	41,158
Total	$ 319,149

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued salaries and wages	$ 6,160	$ 4,432
Current portion of operating lease liabilities	$ 3,157	$ 3,179
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesMember	us-gaap:AccruedLiabilitiesMember
Advanced deposits payable	$ 2,544	$ 2,922
Payroll liabilities	1,844	1,755
Self-insurance liability	903	682
Restricted cash due to customers	819	633
Other	1,967	2,033
Total accrued liabilities	$ 17,394	$ 15,636

Long-term Debt - Summary of the

Long-term Debt - Summary of the Company's Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less: original issue discounts	$ (6,247)	$ (3,952)
Less: unamortized deferred financing costs	(21,308)	(19,645)
Total long-term debt	972,445	842,045
Less: current portion of long-term debt	(6,500)	(9,104)
Long-term debt, net of current portion	965,945	832,941
2021 Term Loan, due 2028
Debt Instrument [Line Items]
Debt instrument carrying amount	650,000
Less: original issue discounts	(3,300)
Less: unamortized deferred financing costs	(700)
Senior Notes, due 2029
Debt Instrument [Line Items]
Debt instrument carrying amount	350,000
Less: unamortized deferred financing costs	$ (5,700)
2018 Term Loan
Debt Instrument [Line Items]
Debt instrument carrying amount		$ 865,642

Long-term Debt - Summary of t_2

Long-term Debt - Summary of the Company's Long-term Debt (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2021
2021 Term Loan, due 2028
Debt Instrument [Line Items]
Debt instrument, maturity year	2028
Senior Notes, due 2029
Debt Instrument [Line Items]
Debt instrument, maturity year	2029

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2018	Dec. 31, 2020
Debt Instrument [Line Items]
Offering discount cost	$ 6,247,000	$ 6,247,000			$ 3,952,000
Deferred financing costs	21,308,000	21,308,000			$ 19,645,000
Repayment of outstanding debt		865,642,000	$ 21,951,000
Debt instrument charge		5,334,000
Outstanding letters of credit	$ 6,200,000	6,200,000
Interest expense including amortization of deferred financing costs and discounts		$ 9,200,000	$ 12,500,000
Weighted average effective interest rates	4.20%	4.20%			3.40%
2021 Term Loan, due 2028
Debt Instrument [Line Items]
Aggregate borrowing	$ 650,000,000	$ 650,000,000
Debt instrument, maturity date	Mar. 26, 2028
Additional borrowing	$ 250,000,000	250,000,000
Offering discount cost	3,300,000	3,300,000
Deferred financing costs	$ 700,000	$ 700,000
Debt instrument, interest rate during the period		1.00%
Debt instrument interest rate	3.45%	3.45%
2021 Term Loan, due 2028 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument interest rate per annum		3.25%
2021 Term Loan, due 2028 | Base Rate
Debt Instrument [Line Items]
Debt instrument interest rate per annum		2.25%
Senior Notes, due 2029
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 15, 2029
Deferred financing costs	$ 5,700,000	$ 5,700,000
Debt instrument, aggregate principal amount	$ 350,000,000	$ 350,000,000
Fixed interest rate	5.50%	5.50%
Debt instrument, payment terms		payable on April 15 and October 15 of each year (beginning on October 15, 2021)
Senior Notes, due 2029 | Maximum
Debt Instrument [Line Items]
Redemption percentage		40.00%
2018 Term Loan
Debt Instrument [Line Items]
Repayment of outstanding debt		$ 865,600,000
Debt instrument charge		5,300,000
Write off of preexisting deferred financing costs		4,000,000
Third party costs associated with issuance		1,300,000
Revolver
Debt Instrument [Line Items]
Revolving commitment				$ 75,000,000
Outstanding borrowings	$ 0	0
Debt instrument available amount to borrow	49,400,000	49,400,000
Outstanding letters of credit	$ 6,200,000	$ 6,200,000
Debt instrument, periodic payment, interest rate	0.375%	0.375%
Debt instrument fronting fees		$ 6,200,000
Participation and fronting fees percentage on outstanding letter of credit		1.38%
Revolver | LIBOR 1.25%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		1.25%
Revolver | LIBOR 1.50%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		1.50%
Revolver | LIBOR 1.75%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		1.75%
Revolver | Base Rate 0.25%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		0.25%
Revolver | Base Rate 0.50%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		0.50%
Revolver | Base Rate 0.75%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		0.75%

Long-term Debt - Schedule of Co

Long-term Debt - Schedule of Consolidated First Lien Net Leverage Ratio and Applicable Prepayment Percentage (Details) - 2021 Term Loan, due 2028	3 Months Ended
	Mar. 31, 2021
> 3.70:1.00
Debt Instrument [Line Items]
Applicable prepayment percentage	50.00%
≤ 3.70:1.00 and > 3.20:1.00
Debt Instrument [Line Items]
Applicable prepayment percentage	25.00%
≤ 3.20:1.00
Debt Instrument [Line Items]
Applicable prepayment percentage	0.00%

Long-term Debt - Summary of Sen

Long-term Debt - Summary of Senior Notes Redemption Prices Set Forth in Percentages by Year (Details) - Senior Notes, due 2029	3 Months Ended
	Mar. 31, 2021
2024
Debt Instrument Redemption [Line Items]
Redemption percentage	102.75%
2025
Debt Instrument Redemption [Line Items]
Redemption percentage	101.375%
2026 and thereafter
Debt Instrument Redemption [Line Items]
Redemption percentage	100.00%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
2021 Term Loan
Debt Instrument [Line Items]
Total long-term debt	$ 650,000
Senior Notes
Debt Instrument [Line Items]
Total long-term debt	350,000
2018 Term Loan
Debt Instrument [Line Items]
Total long-term debt		$ 865,642
Level 2 | 2021 Term Loan | Carrying Amount
Debt Instrument [Line Items]
Total long-term debt	650,000
Level 2 | 2021 Term Loan | Estimated Fair Value
Debt Instrument [Line Items]
Total long-term debt	650,000
Level 2 | Senior Notes | Carrying Amount
Debt Instrument [Line Items]
Total long-term debt	350,000
Level 2 | Senior Notes | Estimated Fair Value
Debt Instrument [Line Items]
Total long-term debt	$ 360,063
Level 2 | 2018 Term Loan | Carrying Amount
Debt Instrument [Line Items]
Total long-term debt		842,045
Level 2 | 2018 Term Loan | Estimated Fair Value
Debt Instrument [Line Items]
Total long-term debt		$ 861,314

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Key Assumptions Used for Measuring Fair Value of Private Placement Warrant Liabilities (Details) - Private Placement Warrant Liabilities - Level 3	Mar. 31, 2021$ / sharesyr	Dec. 31, 2020$ / sharesyr
Stock Price
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility	13.54	13.42
Strike Price
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility	11.50	11.50
Volatility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility	0.490	0.440
Remaining Life
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility | yr	2.6	2.8
Risk-free Interest Rate
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility	0.0026	0.0016
Expected Dividend Yield
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility	0	0
Measurement Input Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Expected stock price volatility	4.94	4.63

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Change in the Private Placement Warrant Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Beginning balance	$ 30,866	$ 29,733
Change in fair value included in net (loss) income	2,067	(15,467)
Ending balance	$ 32,933	$ 14,266

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Schedule of Components of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net (loss) income	$ (8,915)	$ 22,140
Weighted average shares outstanding:
Weighted average shares - basic	162,297	160,924
Common stock equivalents		3,503
Weighted average shares - diluted	162,297	164,427
Net (loss) income per share - basic	$ (0.05)	$ 0.14
Net (loss) income per share - diluted	$ (0.05)	$ 0.04
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	29,016	5,849
Contingently Issuable Shares
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	5,000	5,000
Public warrants
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	13,333
Private Placement Warrants
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	6,667
Non-qualified Stock Options
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	1,205	705
Performance Share Units
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	229	116
Restricted Stock Units
Antidilutive shares excluded from diluted net (loss) income per share
Total antidilutive shares excluded	2,582	28

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax [Line Items]
Effective tax rate	24.50%	12.70%
Unrecognized tax benefits increased due to prior tax positions	$ 0.2
Unrecognized tax benefits	1.1
Unrecognized tax benefits, if recognized	$ 0.5
Earliest | State | Georgia
Income Tax [Line Items]
Income tax examination, year under examination	2018
Earliest | Internal Revenue Service
Income Tax [Line Items]
Income tax examination, year under examination	2017
Latest | State | Georgia
Income Tax [Line Items]
Income tax examination, year under examination	2019
Latest | Internal Revenue Service
Income Tax [Line Items]
Income tax examination, year under examination	2019
Maximum
Income Tax [Line Items]
Accrued interest and penalties	$ 0.1

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Components of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,908	$ 2,768
Operating Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	194	220
Selling, General and Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,714	$ 2,548

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) $ / shares in Units, $ in Thousands	Jan. 27, 2020USD ($)$ / sharesshares	Apr. 26, 2019$ / shares	Mar. 31, 2021USD ($)yr$ / sharesshares	Dec. 31, 2020USD ($)	Oct. 17, 2018USD ($)
Related Party Transaction [Line Items]
Tax receivable agreement, amount payable, current			$ 5,202	$ 4,791
Tax receivable agreement, amount payable, non-current			62,667	$ 67,869
Platinum Stockholder | Common Stock Price Greater than $13.00 and $15.50
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met | shares	5,000,000
Platinum Stockholder | Common Stock Price Greater than $13.00 and $15.50 | Common Stock Including Additional Paid in Capital
Related Party Transaction [Line Items]
Earn-out shares issued value	$ 36,600
Platinum Stockholder | Common Stock Price Greater than $13.00
Related Party Transaction [Line Items]
Common stock price | $ / shares		$ 13
Platinum Stockholder | Common Stock Price Greater than $13.00 | Potential Future Shares
Related Party Transaction [Line Items]
Earn-out shares issued value			0
Platinum Stockholder | Common Stock Price Greater than $15.50
Related Party Transaction [Line Items]
Common stock price | $ / shares	$ 15.50
Platinum Stockholder | Common Stock Price Greater than $15.50 | Common Stock Contingent Consideration
Related Party Transaction [Line Items]
Earn-out shares issued value	$ (36,600)
Platinum Stockholder | Common Stock Price Greater than $15.50 | Potential Future Shares
Related Party Transaction [Line Items]
Earn-out shares issued value			$ 5,000
Platinum Stockholder | Earn-Out Agreement | Earn-Out Scenario Five
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met | shares			0
Platinum Stockholder | Earn-Out Agreement | Common Stock Price Greater than $13.00
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met | shares			2,500,000
Common stock price | $ / shares			$ 13
Platinum Stockholder | Earn-Out Agreement | Common Stock Price Greater than $15.50
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met | shares			2,500,000
Common stock price | $ / shares			$ 15.50
Maximum | Platinum Stockholder | Common Stock Price Greater than $13.00
Related Party Transaction [Line Items]
Common stock price threshold trading days		20 days
Maximum | Platinum Stockholder | Common Stock Price Greater than $15.50
Related Party Transaction [Line Items]
Common stock price threshold trading days	20 days
Maximum | Platinum Stockholder | Earn-Out Agreement
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met | shares			10,000,000
Minimum | Platinum Stockholder | Common Stock Price Greater than $13.00
Related Party Transaction [Line Items]
Common stock price threshold trading days		10 days
Minimum | Platinum Stockholder | Common Stock Price Greater than $15.50
Related Party Transaction [Line Items]
Common stock price threshold trading days	10 days
Verra Mobility Business Combination
Related Party Transaction [Line Items]
Tax Receivable Agreement, portion of net cash savings paid out			50.00%
Tax Receivable Agreement, portion of net cash savings retained			50.00%
Estimated maximum benefit to be paid to tax receivable agreement			$ 70,000
Tax receivable agreement, amount payable			67,900
Tax receivable agreement, amount payable, current			5,200
Tax receivable agreement, amount payable, non-current			62,700
Tax receivable agreement, amount paid, current			$ 4,800
Contingency period			5 years
Verra Mobility Business Combination | Platinum Stockholder | Earn-Out Agreement
Related Party Transaction [Line Items]
Contingent consideration			$ 36,600		$ 73,150
Term of volatility and risk free rates utilizing a peer group | yr			5
Verra Mobility Business Combination | Maximum
Related Party Transaction [Line Items]
Common stock price threshold trading days			20 days
Verra Mobility Business Combination | Minimum
Related Party Transaction [Line Items]
Common stock price threshold trading days			10 days

Related Party Transactions - Su

Related Party Transactions - Summary of Earn Out Shares Issued by Company to Platinum Stockholder (Details) - Platinum Stockholder - $ / shares	3 Months Ended
	Mar. 31, 2021	Jan. 27, 2020	Apr. 26, 2019
Common Stock Price Greater than $13.00
Related Party Transaction [Line Items]
Common Stock Price thresholds			$ 13
Common Stock Price Greater than $13.00 | Earn-Out Agreement
Related Party Transaction [Line Items]
Common Stock Price thresholds	$ 13
One-time issuance of shares	2,500,000
Common Stock Price Greater than $15.50
Related Party Transaction [Line Items]
Common Stock Price thresholds		$ 15.50
Common Stock Price Greater than $15.50 | Earn-Out Agreement
Related Party Transaction [Line Items]
Common Stock Price thresholds	$ 15.50
One-time issuance of shares	2,500,000
Common Stock Price Greater than $18.00 | Earn-Out Agreement
Related Party Transaction [Line Items]
Common Stock Price thresholds	$ 18
One-time issuance of shares	2,500,000
Common Stock Price Greater than $20.50 | Earn-Out Agreement
Related Party Transaction [Line Items]
Common Stock Price thresholds	$ 20.50
One-time issuance of shares	2,500,000

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021USD ($)Guarantee
Loss Contingencies [Line Items]
Letters of Credit Outstanding	$ 6,200,000
Non-cancelable purchase commitments outstanding	$ 32,300,000
Guarantee triggering events, description	In the ordinary course of business, the Company occasionally employs contract terms that mitigate the customer’s risk of aggregate revenue decline in connection with the customer’s adoption of additional or changes to service models within its existing portfolio. These agreements require the customer to satisfy numerous conditions to trigger payment, including volume metrics and other operational requirements.
Guarantee outstanding | Guarantee	1
Guarantee outstanding period	1 year
Guarantee liability	$ 0
Contra revenue	0
NYC Investigation
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 1,300,000

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Reporting - Financial I

Segment Reporting - Financial Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 89,858	$ 116,713
Operating expenses	30,298	32,039
Selling, general and administrative expenses	25,729	23,338
Other income, net	(3,013)	(2,925)
Segment profit (loss)	1,751	19,413
Depreciation and amortization	28,214	29,250
Gain (Loss) on disposal of assets, net	51	(4)
Change in fair value of private placement warrants	2,067	(15,467)
Stock-based compensation	2,908	2,768
Interest expense, net	9,164	12,451
Loss on extinguishment of debt	5,334
Income (loss) before income tax benefit	(11,801)	25,354
Service Revenue
Segment Reporting Information [Line Items]
Total revenue	89,763	99,497
Cost of revenue	880	1,219
Product Sales
Segment Reporting Information [Line Items]
Total revenue	95	17,216
Cost of revenue	27	8,690
Operating Segments
Segment Reporting Information [Line Items]
Segment profit (loss)	35,937	54,352
Operating Segments | Commercial Services
Segment Reporting Information [Line Items]
Total revenue	45,689	61,242
Operating expenses	14,206	16,530
Selling, general and administrative expenses	10,792	13,384
Other income, net	(2,070)	(2,889)
Segment profit (loss)	22,230	33,410
Income (loss) before income tax benefit	22,230	33,410
Operating Segments | Government Solutions
Segment Reporting Information [Line Items]
Total revenue	44,169	55,471
Operating expenses	16,092	15,509
Selling, general and administrative expenses	10,811	9,669
Other income, net	(943)	(36)
Segment profit (loss)	17,833	21,227
Gain (Loss) on disposal of assets, net	51	(4)
Income (loss) before income tax benefit	17,782	21,231
Operating Segments | Service Revenue | Commercial Services
Segment Reporting Information [Line Items]
Total revenue	45,689	61,242
Cost of revenue	531	807
Operating Segments | Service Revenue | Government Solutions
Segment Reporting Information [Line Items]
Total revenue	44,074	38,255
Cost of revenue	349	412
Operating Segments | Product Sales | Government Solutions
Segment Reporting Information [Line Items]
Total revenue	95	17,216
Cost of revenue	27	8,690
Corporate and Other
Segment Reporting Information [Line Items]
Selling, general and administrative expenses	4,126	285
Segment profit (loss)	(4,126)	(285)
Depreciation and amortization	28,214	29,250
Change in fair value of private placement warrants	2,067	(15,467)
Stock-based compensation	2,908	2,768
Interest expense, net	9,164	12,451
Loss on extinguishment of debt	5,334
Income (loss) before income tax benefit	$ (51,813)	$ (29,287)

Guarantor_Non-Guarantor Finan_3

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 249,605	$ 120,259
Restricted cash	819	633
Accounts receivable (net of allowance for credit loss of $12.1 million and $11.5 million at March 31, 2021 and December 31, 2020, respectively)	192,985	168,783
Unbilled receivables	14,881	14,045
Prepaid expenses and other current assets	24,509	24,317
Total current assets	482,799	328,037
Installation and service parts, net	8,597	7,944
Property and equipment, net	67,741	70,284
Operating lease assets	30,172	29,787
Intangible assets, net	319,149	342,139
Goodwill	586,220	586,435
Other non-current assets	2,535	2,699
Total assets	1,497,213	1,367,325
Current liabilities:
Accounts payable	41,334	34,509
Accrued liabilities	17,394	15,636
Payable to related party pursuant to tax receivable agreement, current portion	5,202
Current portion of long-term debt	6,500	9,104
Total current liabilities	70,430	64,040
Long-term debt, net of current portion	965,945	832,941
Operating lease liabilities, net of current portion	28,447	27,986
Payable to related party pursuant to tax receivable agreement, net of current portion	62,667
Private placement warrant liabilities	32,933	30,866
Asset retirement obligation	6,406	6,409
Deferred tax liabilities, net	21,316	21,148
Other long-term liabilities	551
Total liabilities	1,188,695	1,051,753
Total stockholders' equity	308,518	315,572	$ 330,134	$ 309,614
Total liabilities and stockholders' equity	1,497,213	$ 1,367,325
Verra Mobility Corporation (Ultimate Parent)
Current assets:
Investment in subsidiary	139,259
Total current assets	139,259
Due from affiliates	169,259
Total assets	308,518
Current liabilities:
Total stockholders' equity	308,518
Total liabilities and stockholders' equity	308,518
VM Consolidated Inc. (Guarantor Subsidiary)
Current assets:
Cash and cash equivalents	233,296
Restricted cash	819
Accounts receivable (net of allowance for credit loss of $12.1 million and $11.5 million at March 31, 2021 and December 31, 2020, respectively)	191,190
Unbilled receivables	14,481
Investment in subsidiary	73,936
Prepaid expenses and other current assets	21,932
Total current assets	535,654
Installation and service parts, net	8,597
Property and equipment, net	64,897
Operating lease assets	29,879
Intangible assets, net	293,988
Goodwill	524,766
Other non-current assets	2,520
Total assets	1,460,301
Current liabilities:
Accounts payable	30,256
Accrued liabilities	13,739
Payable to related party pursuant to tax receivable agreement, current portion	5,202
Current portion of long-term debt	6,500
Total current liabilities	55,697
Long-term debt, net of current portion	965,945
Operating lease liabilities, net of current portion	28,358
Payable to related party pursuant to tax receivable agreement, net of current portion	62,667
Private placement warrant liabilities	32,933
Due to affiliates	151,526
Asset retirement obligation	6,406
Deferred tax liabilities, net	16,959
Other long-term liabilities	551
Total liabilities	1,321,042
Total stockholders' equity	139,259
Total liabilities and stockholders' equity	1,460,301
Non-guarantor Subsidiaries
Current assets:
Cash and cash equivalents	16,309
Accounts receivable (net of allowance for credit loss of $12.1 million and $11.5 million at March 31, 2021 and December 31, 2020, respectively)	1,795
Unbilled receivables	400
Prepaid expenses and other current assets	2,577
Total current assets	21,081
Property and equipment, net	2,844
Operating lease assets	293
Intangible assets, net	25,161
Goodwill	61,454
Other non-current assets	15
Total assets	110,848
Current liabilities:
Accounts payable	11,078
Accrued liabilities	3,655
Total current liabilities	14,733
Operating lease liabilities, net of current portion	89
Due to affiliates	17,733
Deferred tax liabilities, net	4,357
Total liabilities	36,912
Total stockholders' equity	73,936
Total liabilities and stockholders' equity	110,848
Eliminations
Current assets:
Investment in subsidiary	(213,195)
Total current assets	(213,195)
Due from affiliates	(169,259)
Total assets	(382,454)
Current liabilities:
Due to affiliates	(169,259)
Total liabilities	(169,259)
Total stockholders' equity	(213,195)
Total liabilities and stockholders' equity	$ (382,454)

Guarantor_Non-Guarantor Finan_4

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Balance Sheets (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Allowance for credit loss	$ 12,132	$ 11,471	$ 10,846	$ 8,456

Guarantor_Non-Guarantor Finan_5

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Statements of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Condensed Statement Of Income Captions [Line Items]
Total revenue	$ 89,858	$ 116,713
Operating expenses	30,492	32,259
Selling, general and administrative expenses	28,443	25,886
Depreciation, amortization and (gain) loss on disposal of assets, net	28,265	29,246
Total costs and expenses	88,107	97,300
Income from operations	1,751	19,413
Interest expense, net	9,164	12,451
Change in fair value of private placement warrants	2,067	(15,467)
Debt instrument charge	5,334
Other income, net	(3,013)	(2,925)
Total other expenses (income)	13,552	(5,941)
(Loss) income before income tax (benefit) provision	(11,801)	25,354
Income tax (benefit) provision	(2,886)	3,214
Net (loss) income	(8,915)	22,140
Other comprehensive loss:
Change in foreign currency translation adjustment	(190)	(3,367)
Total comprehensive (loss) income	(9,105)	18,773
Verra Mobility Corporation (Ultimate Parent)
Condensed Statement Of Income Captions [Line Items]
Loss from equity investment	8,915
Total other expenses (income)	8,915
(Loss) income before income tax (benefit) provision	(8,915)
Net (loss) income	(8,915)
Other comprehensive loss:
Total comprehensive (loss) income	(8,915)
VM Consolidated Inc. (Guarantor Subsidiary)
Condensed Statement Of Income Captions [Line Items]
Total revenue	87,098
Operating expenses	28,083
Selling, general and administrative expenses	27,423
Depreciation, amortization and (gain) loss on disposal of assets, net	27,218
Total costs and expenses	83,146
Income from operations	3,952
Loss from equity investment	1,869
Interest expense, net	9,164
Change in fair value of private placement warrants	2,067
Debt instrument charge	5,334
Other income, net	(3,014)
Total other expenses (income)	15,420
(Loss) income before income tax (benefit) provision	(11,468)
Income tax (benefit) provision	(2,553)
Net (loss) income	(8,915)
Other comprehensive loss:
Total comprehensive (loss) income	(8,915)
Non-guarantor Subsidiaries
Condensed Statement Of Income Captions [Line Items]
Total revenue	2,760
Operating expenses	2,409
Selling, general and administrative expenses	1,020
Depreciation, amortization and (gain) loss on disposal of assets, net	1,047
Total costs and expenses	4,961
Income from operations	(2,201)
Other income, net	1
Total other expenses (income)	1
(Loss) income before income tax (benefit) provision	(2,202)
Income tax (benefit) provision	(333)
Net (loss) income	(1,869)
Other comprehensive loss:
Change in foreign currency translation adjustment	(190)
Total comprehensive (loss) income	(2,059)
Eliminations
Condensed Statement Of Income Captions [Line Items]
Loss from equity investment	(10,784)
Total other expenses (income)	(10,784)
(Loss) income before income tax (benefit) provision	10,784
Net (loss) income	10,784
Other comprehensive loss:
Total comprehensive (loss) income	10,784
Service Revenue
Condensed Statement Of Income Captions [Line Items]
Total revenue	89,763	99,497
Cost of revenue	880	1,219
Service Revenue | VM Consolidated Inc. (Guarantor Subsidiary)
Condensed Statement Of Income Captions [Line Items]
Total revenue	87,003
Cost of revenue	395
Service Revenue | Non-guarantor Subsidiaries
Condensed Statement Of Income Captions [Line Items]
Total revenue	2,760
Cost of revenue	485
Product Sales
Condensed Statement Of Income Captions [Line Items]
Total revenue	95	17,216
Cost of revenue	27	$ 8,690
Product Sales | VM Consolidated Inc. (Guarantor Subsidiary)
Condensed Statement Of Income Captions [Line Items]
Total revenue	95
Cost of revenue	$ 27

Guarantor_Non-Guarantor Finan_6

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities:
Net (loss) income	$ (8,915)	$ 22,140
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	28,214	29,250
Amortization of deferred financing costs and discounts	1,593
Change in fair value of private placement warrants	2,067	(15,467)
Loss on extinguishment of debt	5,334
Credit loss expense	2,402	5,356
Deferred income taxes	281	(682)
Stock-based compensation	2,908	2,768
Installation and service parts expense	29	393
Accretion expense	53	64
Loss on disposal of assets	51	(4)
Changes in operating assets and liabilities:
Accounts receivable, net	(26,672)	(22,397)
Unbilled receivables	(859)	3,648
Prepaid expenses and other assets	(262)	2,367
Accounts payable and accrued liabilities	2,330	(11,363)
Other liabilities	459	(2,135)
Net cash provided by operating activities	9,013	14,841
Cash Flows from Investing Activities:
Purchases of installation and service parts and property and equipment	(3,704)	(8,141)
Cash proceeds from the sale of assets	56
Net cash used in investing activities	(3,648)	(8,131)
Cash Flows from Financing Activities:
Borrowings of long-term debt	(996,750)
Repayment of long-term debt	(865,642)	(21,951)
Payment of debt issuance costs	(5,732)	(806)
Payment of debt extinguishment costs	(604)
Payment of employee tax withholding related to RSUs vesting	(857)	(327)
Net cash provided by (used in) financing activities	123,915	(23,084)
Effect of exchange rate changes on cash and cash equivalents	252
Net increase (decrease) in cash, cash equivalents and restricted cash	129,532	(17,337)
Cash, cash equivalents and restricted cash - beginning of period	120,892	132,430
Cash, cash equivalents and restricted cash - end of period	250,424	115,093
Supplemental cash flow information:
Interest paid	6,996	11,822
Income taxes paid, net of refunds	238	319
Supplemental non-cash investing and financing activities:
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period-end	1,355	$ 4,586
Accrued debt issuance costs	635
Accrued debt extinguishment costs	665
Verra Mobility Corporation (Ultimate Parent)
Cash Flows from Operating Activities:
Net (loss) income	(8,915)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Loss from equity investment	8,915
VM Consolidated Inc. (Guarantor Subsidiary)
Cash Flows from Operating Activities:
Net (loss) income	(8,915)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	27,167
Amortization of deferred financing costs and discounts	1,593
Change in fair value of private placement warrants	2,067
Loss on extinguishment of debt	5,334
Credit loss expense	2,362
Deferred income taxes	984
Stock-based compensation	2,908
Installation and service parts expense	29
Accretion expense	53
Loss on disposal of assets	51
Loss from equity investment	1,869
Changes in operating assets and liabilities:
Accounts receivable, net	(26,802)
Unbilled receivables	(1,033)
Prepaid expenses and other assets	(395)
Accounts payable and accrued liabilities	3,634
Due to affiliates	(1,063)
Other liabilities	459
Net cash provided by operating activities	10,302
Cash Flows from Investing Activities:
Purchases of installation and service parts and property and equipment	(3,548)
Cash proceeds from the sale of assets	56
Cash contribution to subsidiary	(1,212)
Net cash used in investing activities	(4,704)
Cash Flows from Financing Activities:
Borrowings of long-term debt	(996,750)
Repayment of long-term debt	(865,642)
Payment of debt issuance costs	(5,732)
Payment of debt extinguishment costs	(604)
Payment of employee tax withholding related to RSUs vesting	(857)
Net cash provided by (used in) financing activities	123,915
Net increase (decrease) in cash, cash equivalents and restricted cash	129,513
Cash, cash equivalents and restricted cash - beginning of period	104,602
Cash, cash equivalents and restricted cash - end of period	234,115
Supplemental cash flow information:
Interest paid	6,996
Income taxes paid, net of refunds	233
Supplemental non-cash investing and financing activities:
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period-end	1,355
Accrued debt issuance costs	635
Accrued debt extinguishment costs	665
Non-guarantor Subsidiaries
Cash Flows from Operating Activities:
Net (loss) income	(1,869)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	1,047
Credit loss expense	40
Deferred income taxes	(703)
Changes in operating assets and liabilities:
Accounts receivable, net	130
Unbilled receivables	174
Prepaid expenses and other assets	133
Accounts payable and accrued liabilities	(1,304)
Due to affiliates	1,063
Net cash provided by operating activities	(1,289)
Cash Flows from Investing Activities:
Purchases of installation and service parts and property and equipment	(156)
Net cash used in investing activities	(156)
Cash Flows from Financing Activities:
Capital contribution from VM Consolidated Inc.	1,212
Net cash provided by (used in) financing activities	1,212
Effect of exchange rate changes on cash and cash equivalents	252
Net increase (decrease) in cash, cash equivalents and restricted cash	19
Cash, cash equivalents and restricted cash - beginning of period	16,290
Cash, cash equivalents and restricted cash - end of period	16,309
Supplemental cash flow information:
Income taxes paid, net of refunds	5
Eliminations
Cash Flows from Operating Activities:
Net (loss) income	10,784
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Loss from equity investment	(10,784)
Cash Flows from Investing Activities:
Cash contribution to subsidiary	1,212
Net cash used in investing activities	1,212
Cash Flows from Financing Activities:
Capital contribution from VM Consolidated Inc.	(1,212)
Net cash provided by (used in) financing activities	$ (1,212)

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - Redflex Holdings Limited $ / shares in Units, $ in Millions, $ in Millions	Apr. 29, 2021USD ($)	Apr. 29, 2021AUD ($)$ / shares	Mar. 31, 2021AUD ($)	Jan. 22, 2021
Subsequent Event [Line Items]
Purchase price | $			$ 152.5
Scheme Agreement
Subsequent Event [Line Items]
Purchase percentage of outstanding equity				100.00%
Scheme Amendment | Subsequent Event | Minimum
Subsequent Event [Line Items]
Consideration payable per share		$ 0.92
Purchase price	$ 112.9	$ 146.1
Scheme Amendment | Subsequent Event | Maximum [Member]
Subsequent Event [Line Items]
Consideration payable per share		$ 0.96
Purchase price	$ 117.9	$ 152.5