Oct 30, 4:05 PM ET
Verra Mobility said CFO Craig Conti will resign effective November 4, 2026. The Board appointed Matthew Kvarda, a Managing Director at Alvarez & Marsal, as interim CFO effective November 5, 2026, while a search firm assists in finding a permanent CFO. Kvarda's services are provided through an engagement with Alvarez & Marsal, which the company pays directly, and he will not receive compensation from Verra Mobility.
- Craig Conti resigns as Executive Vice President and Chief Financial Officer effective November 4, 2026.
- Matthew Kvarda, 56, is appointed interim CFO and principal financial officer effective November 5, 2026, until a permanent CFO is appointed.
- Verra Mobility will pay Alvarez & Marsal $150,000 per month plus expenses, rising to $165,000 from May 1, 2027; fees through October 31, 2027 may not exceed $1,890,000 without consent.
- Spencer Stuart is assisting the Board in the search for a permanent Chief Financial Officer.
Read the filing on SEC.gov ↗
Oct 15, 8:41 AM ET
Verra Mobility said Chief Financial Officer Craig Conti will resign effective November 4, 2026, to pursue an opportunity in a different industry, and that the departure is not related to financial or operating results. The company is searching for a permanent CFO and expects to name an interim CFO, and it reaffirmed its 2026 full-year outlook, which it first presented on August 5, 2026.
- Conti notified the company on October 8, 2026, and his last day is November 4, 2026
- The board has begun a search for a permanent CFO with Spencer Stuart and expects to appoint an interim CFO
- Third quarter 2026 results will be released before market open on October 30, 2026, with no conference call planned
- The company reaffirmed its 2026 full-year outlook, originally presented on August 5, 2026
Read the filing on SEC.gov ↗
Oct 2, 4:40 PM ET
Verra Mobility's board appointed Jon Newhard as President and Chief Executive Officer, effective November 1, 2026, and as a director on the same date, which increases the board from six to seven members. He succeeds Jon Keyser, the interim CEO since June 2026, who will serve in an advisory role until December 31, 2026, while severance terms with Mr. Keyser are still being negotiated. The filing sets Mr. Newhard's base salary at $725,000 and includes a $4,750,000 inducement RSU award that remains subject to approval.
- Jon Newhard, 57, was CEO of Yunex Traffic GmbH from March 2024 until September 2026 and previously led Clinc, Inc. and Cubic's ITS division.
- Base salary of $725,000, with a target bonus of 100% of base salary and an estimated target equity grant date fair value of $4,000,000 beginning in fiscal 2027.
- Inducement RSU award with a grant-date fair value of $4,750,000, subject to NASDAQ Listing Rule 5635(c)(4) approvals and vesting over three annual installments.
- Jon Keyser remains in an advisory role until December 31, 2026, and the company is negotiating his severance arrangements.
Read the filing on SEC.gov ↗
Aug 5, 4:10 PM ET
Verra Mobility reported second quarter 2026 revenue of $263.6 million, up 12%, but a net loss of $48.2 million, compared with net income of $38.6 million a year earlier, mainly due to goodwill and intangible asset impairments. The company also revised its full-year 2026 guidance and said two significant rental car customers extended contracts on materially less favorable terms, with fleet volume modulation rights that could make revenue vary. For shareholders, reported profit fell sharply and contract terms weakened, though the filing does not state the prior guidance figures.
- Total revenue was $263.6 million, up 12% from $236.0 million in the second quarter of 2025.
- Net loss was $(48.2) million, or $(0.32) per share, versus net income of $38.6 million, or $0.24 per share, a year earlier; the company cited a $64.0 million goodwill impairment and a $40.4 million intangibles impairment in Parking Solution
- Adjusted EPS was $0.38 versus $0.34, while free cash flow was $32.6 million versus $40.3 million.
- Full-year 2026 guidance: revenue of $945 million to $965 million, Adjusted EBITDA of $360 million to $370 million, Adjusted EPS of $1.11 to $1.17, and free cash flow of $105 million to $115 million.
Read the filing on SEC.gov ↗
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