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SurgePays Announces Second Quarter 2024 Financial Results

Published

2 years ago

on

$5 Million Share Repurchase Authorized

BARTLETT, Tenn., Aug. 13, 2024 /PRNewswire/ — SurgePays, Inc. (NASDAQ: SURG) (“SurgePays” or the “Company”), a technology and telecom company focused on the underbanked and underserved, today announced its financial results for the second quarter ended June 30, 2024.

Management Commentary

Chairman and CEO Brian Cox commented on the quarter’s results, “The second quarter of 2024 begins a transition phase for SurgePays.  ACP funding has run out and there is no guarantee it will return.  Fortunately, in the first quarter we shored up our balance sheet and began implementing growth initiatives outside of the ACP program to continue to pursue our strategic goal of being one of the country’s largest providers of prepaid wireless and underbanked financial technology services.

“Second quarter sales of $15.1 million were about as expected, but were well below the first quarter 2024 revenues of $31.4 million and the year ago second quarter 2023 revenues of $35.9 million due to the ending of the government’s ACP funding in mid-May, which we knew was coming.  Both the first quarter of 2024 and the second quarter of 2023 had full ACP funding.

“Gross profits in the 2024 second quarter were a loss of ($3.4) million compared to a profit of $10.0 million in the year ago quarter as the original ACP funding ran out mid-quarter. Additionally, we made the strategic decision to have our balance sheet take on the funding to maintain continuity within our subscriber base for three main reasons: 

Congress could renew the ACP program at any time, and if we terminated service, we would have to go out and re-acquire customers from a standing start, which would cost tens of millions of dollars.If Congress delayed or didn’t fund the program, we had plan B to acquire a company with licenses to provide a similar wireless subsidy and offer our subscribers the option to remain on a free monthly plan subsidized by a sister program. This is in conjunction with incentivizing customers to switch to LinkUp Mobile, our non-subsidized prepaid wireless brand. We know how critical broadband service is in everybody’s life, and we believe it was simply the right thing to do. 

“We are in a transition phase and are looking to get back to generating positive free cash flow by the end of this year through the following initiatives:

Continue to grow our ACP revenue stream should Congress begin funding it again.Offer our ACP subscriber base a free monthly service plan utilizing the Lifeline program while enticing customers with a cost-saving LinkUp Mobile prepaid wireless plan.Scaling up our third-party wholesale transactions for other prepaid wireless company payments at convenience stores. We believe this initiative is necessary because it is a relationship gateway product for LinkUp Mobile activations and subscriber growth.Expand our offerings outside of wireless.  For instance, we recently launched our ClearLine customer engagement platform for convenience stores at last month’s RetailNOW Conference in Las Vegas.Expand product and service offerings to the same nationwide network of convenience stores we are building by exploring and executing prospective partnering or product distribution opportunities.Identify unique market opportunities that represent potential positive short-term cash flow.

“As we said last quarter, we knew that the ACP funding could run out, and we are not waiting around for Congress to provide additional funding. Many initiatives are underway to expand SurgePays’s footprint among the underbanked and underserved, who remain our key customers. We recognize that the expiration of ACP funding has adversely impacted our business and stock price. Therefore, we feel it’s an opportune time to announce a corporate stock buyback so our long-term investors know our interests are aligned. Until December 31, 2024, we will implement a buyback of up to $5 million (the “Maximum Amount”) of SurgePays common stock in the open market. Repurchases may be made from time to time at management’s discretion. The program will end upon the earlier of 6 months after the commencement of the program or the date upon which the Maximum Amount has been purchased and can be discontinued at any time. No shares have been repurchased under the program to date. There can be no assurance as to the timing or number of shares of any repurchases.”

Second Quarter 2024 Results Conference Call

SurgePays management will host a webcast at 5 p.m. ET / 2 p.m. PT to discuss these results. The live webcast of the call can be accessed on the company’s investor relations website at ir.surgepays.com, or by registering at the following link: Second Quarter Financial Results Call. 

Telephone access to the call will be available at 877-545-0320 (in the U.S.) or by dialing 973-528-0002 (outside the U.S.). Participant access code is 650138.

A telephone replay will be available approximately one hour following completion of the call until August 27, 2024. To access the replay, please dial 877-481-4010 (in the U.S.) or 919-882-2331 (outside the U.S.). Replay passcode is 51057.

Share Repurchase Authorization

As indicated above, SurgePays’s board of directors has authorized the company to repurchase up to $5 million of common stock through the open market until December 31, 2024.

About SurgePays, Inc.

SurgePays, Inc. is a technology and telecom company focused on the underbanked and underserved communities. SurgePays’ technology-layered platform empowers clerks at over 8,000 convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers. SurgePays prepaid wireless companies provide services to over 250,000 low-income subscribers nationwide. The company ranks as the 345th fastest-growing tech company in North America according to the 2023 Deloitte Technology Fast 500. Please visit SurgePays.com for more information.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “attempting,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

Although we believe that the expectations reflected in these forward-looking statements such as regarding our market potential along with the statements under the heading Management Commentary are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements including but not limited to, our plans to expand our prepaid wireless company and the stock buyback program,  our ability to retain our subscribers on a free monthly plan subsidized by a sister program, our ability to obtain a company that has the license to subsidize our subscribers through a sister program and our expanded service and offerings. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, whether the ACP is funded again, our ability to obtain a company that has the license to subsidize our subscribers through a sister program, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

 SurgePays, Inc. and Subsidiaries

Consolidated Balance Sheets

30-Jun-24

31-Dec-23

(Unaudited)

Assets

Current Assets

Cash

$

38,434,580

$

14,622,060

Accounts receivable – net

1,412,177

9,536,074

Inventory

8,363,434

9,046,594

Prepaids and other

507,927

161,933

Total Current Assets

48,718,118

33,366,661

Property and equipment – net

221,075

361,841

Other Assets

Note receivable

176,851

176,851

Intangibles – net

1,799,716

2,126,470

Internal use software development costs – net

428,010

539,424

Goodwill

4,166,782

1,666,782

Investment in CenterCom

498,273

464,409

Operating lease – right of use asset – net

396,475

387,869

Deferred income taxes – net

–

2,835,000

Total Other Assets

7,466,107

8,196,805

Total Assets

$

56,405,300

$

41,925,307

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$

4,297,557

$

6,439,120

Accounts payable and accrued expenses – related party

499,853

1,048,224

Accrued income taxes payable

100,000

570,000

Deferred revenue

–

20,000

Operating lease liability

96,332

43,137

Note payable – related party

1,606,654

4,584,563

Total Current Liabilities

6,600,396

12,705,044

Long Term Liabilities

Note payable – related party

2,730,796

–

Notes payable – SBA government

474,758

460,523

Operating lease liability

317,470

356,276

Total Long Term Liabilities

3,523,024

816,799

Total Liabilities

10,123,420

13,521,843

Stockholders’ Equity

Common stock, $0.001 par value, 500,000,000 shares authorized 19,431,549 and 14,403,261 shares issued and outstanding, respectively

19,435

14,404

Additional paid-in capital

72,967,169

43,421,019

Accumulated deficit

(26,827,373

(15,186,203

Stockholders’ equity

46,159,231

28,249,220

Non-controlling interest

122,649

154,244

Total Stockholders’ Equity

46,281,880

28,403,464

Total Liabilities and Stockholders’ Equity

$

56,405,300

$

41,925,307

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2024

2023

2024

2023

Revenues

$

15,085,699

$

35,886,433

$

46,514,834

$

70,662,876

Costs and expenses

Cost of revenues

18,528,774

25,860,705

41,775,243

52,942,665

General and administrative expenses

7,432,978

3,823,227

13,863,783

6,812,648

Total costs and expenses

25,961,752

29,683,932

55,639,026

59,755,313

Income (loss) from operations

(10,876,053)

6,202,501

(9,124,192)

10,907,563

Other income (expense)

Interest expense

(116,722)

(156,267)

(249,305)

(348,593

Other income

636,868

–

636,868

–

Gain on investment in CenterCom

17,711

10,713

33,864

43,742

Total other income (expense) – net

537,857

(145,554)

421,427

(304,851

Net income (loss) before provision for income taxes

(10,338,196)

6,056,947

(8,702,765)

10,602,712

Provision for income tax benefit (expense)

(2,547,000)

–

(2,970,000)

–

Net income (loss) including non-controlling interest

(12,885,196)

6,056,947

(11,672,765)

10,602,712

Non-controlling interest

(19,431)

90,955

(31,595)

90,379

Net income (loss) available to common stockholders

$

(12,865,765)

$

5,965,992

$

(11,641,170)

$

10,512,333

Earnings per share – attributable to common stockholders

Basic

$

(0.66)

$

0.42

$

(0.63)

$

0.74

Diluted

$

(0.66)

$

0.4

$

(0.63)

$

0.71

Weighted average number of shares outstanding – attributable to common stockholders

Basic

19,431,549

14,191,083

18,562,416

14,154,163

Diluted

19,431,549

15,076,466

18,562,416

14,811,785

The accompanying notes are an integral part of these unaudited consolidated financial statements

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity

For the Three and Six Months Ended June 30, 2024

(Unaudited)

Common Stock

Additional

Accumulated

Non-Controlling

Total

Paid-in

Stockholders’

Shares

Amount

Capital

Deficit

Interest

Equity

December 31, 2023

14,403,261

$

14,404

$

43,421,019

$

(15,186,203)

$

154,244

$

28,403,464

Stock issued for cash

3,080,356

3,081

17,246,913

–

–

17,249,994

Cash paid as direct offering costs

–

–

(1,395,000)

–

–

(1,395,000

Exercise of warrants – cash

1,860,308

1,861

8,797,396

–

–

8,799,257

Exercise of warrants – cashless

40,238

41

(41)

–

–

–

Stock issued for services

47,386

48

411,692

–

–

411,740

Recognition of stock based compensation – unvested shares – related parties

–

–

1,497,417

–

–

1,497,417

Recognition of stock-based compensation – related party

–

–

6,196

–

–

6,196

Non-controlling interest

–

–

–

–

(12,164)

(12,164

Net income

–

–

–

1,224,595

–

1,224,595

March 31, 2024

19,431,549

19,435

69,985,592

(13,961,608)

142,080

56,185,499

Recognition of stock based compensation – unvested shares – related parties

–

–

2,981,577

–

–

2,981,577

Non-controlling interest

–

–

–

–

(19,431)

(19,431

Net loss

–

–

–

(12,865,765)

–

(12,865,765

June 30, 2024

19,431,549

$

19,435

$

72,967,169

$

(26,827,373)

$

122,649

$

46,281,880

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity

For the Three and Six Months Ended June 30, 2023

(Unaudited)

Common Stock

Additional

Accumulated

Non-Controlling

Total

Paid-in

Stockholders’

Shares

Amount

Capital

Deficit

Interest

Equity

December 31, 2022

14,116,832

$

14,117

$

40,780,707

$

(35,804,106)

$

127,535

$

5,118,253

Stock issued for services

60,082

60

307,398

–

–

307,458

Recognition of stock based compensation – stock options

–

–

9,294

–

–

9,294

Non-controlling interest

–

–

–

–

(576)

(576

Net income

–

–

–

4,546,341

–

4,546,341

March 31, 2023

14,176,914

14,177

41,097,399

(31,257,765)

126,959

9,980,770

Stock issued for services

64,927

65

311,121

–

–

311,186

Recognition of stock based compensation – stock options

–

–

9,294

–

–

9,294

Exercise of warrants for cash

43,814

44

207,196

–

–

207,240

Non-controlling interest

–

–

–

–

90,955

90,955

Net income

–

–

–

5,965,992

–

5,965,992

June 30, 2023

14,285,655

$

14,286

$

41,625,010

$

(25,291,773)

$

217,914

$

16,565,437

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

For the Six Months Ended June 30,

2024

2023

Operating activities

Net income (loss) – including non-controlling interest

$

(11,672,765)

$

10,602,712

Adjustments to reconcile net income (loss) to net cash provided by (used in) operations

Depreciation and amortization

467,520

467,519

Amortization of right-of-use assets

46,995

21,494

Amortization of internal use software development costs

111,414

64,530

Stock issued for services

411,740

618,644

Recognition of stock based compensation – unvested shares – related parties

4,478,994

–

Recognition of share based compensation – options – related party

6,196

18,588

Interest expense adjustment – SBA loans

19,750

–

Right-of-use asset lease payment adjustment true up

(97,346)

–

Gain on equity method investment – CenterCom

(33,864)

(43,742

Changes in operating assets and liabilities

(Increase) decrease in

Accounts receivable

8,123,897

(1,059,014

Inventory

683,160

(6,900,674

Prepaids and other

(345,994)

(56,131

Deferred income taxes – net

2,835,000

–

Increase (decrease) in

Accounts payable and accrued expenses

(4,641,563)

(1,351,218

Accounts payable and accrued expenses – related party

(49,380)

(270,665

Accrued income taxes payable

(470,000)

–

Installment sale liability – net

–

(1,668,744

Deferred revenue

(20,000)

(199,910

Operating lease liability

56,134

(19,329

Net cash provided by (used in) operating activities

(90,112)

224,060

Investing activities

Capitalized internal use software development costs

–

(281,304

Net cash used in investing activities

–

(281,304

Financing activities

Proceeds from stock issued for cash

17,249,994

–

Proceeds from exercise of common stock warrants

8,799,257

207,240

Cash paid as direct offering costs

(1,395,000)

–

Repayments of loans – related party

(746,104)

(467,385

Repayments on notes payable

–

(1,520,954

Repayments on notes payable – SBA government

(5,515)

(9,213

Net cash provided (used in) by financing activities

23,902,632

(1,790,312

Net increase (decrease) in cash

23,812,520

(1,847,556

Cash – beginning of period

14,622,060

7,035,654

Cash – end of period

$

38,434,580

$

5,188,098

Supplemental disclosure of cash flow information

Cash paid for interest

$

259,765

$

209,840

Cash paid for income tax

$

–

$

–

Supplemental disclosure of non-cash investing and financing activities

Reclassification of accrued interest – related party to note payable – related party

$

498,991

$

–

Exercise of warrants – cashless

$

41

$

–

Right-of-use asset obtained in exchange for new operating lease liability

$

98,638

$

–

Goodwill (ClearLine Mobile, Inc.)

$

2,500,000

$

–

The accompanying notes are an integral part of these unaudited consolidated financial statements

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/surgepays-announces-second-quarter-2024-financial-results-302221503.html

SOURCE SurgePays

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HelloNation Examines Medicare Advantage & Medigap Coverage Differences, Featuring Financial Advisor Ash Toumayants

Published

39 minutes ago

on

July 24, 2026

By

The article reviews provider access, prescription coverage, and out-of-pocket expenses when comparing Medicare Advantage and Medigap plans.

STATE COLLEGE, Pa., July 24, 2026 /PRNewswire/ — How should residents evaluate whether Medicare Advantage or Medigap coverage better fits their healthcare and financial needs? HelloNation answers this question in an article that explains the key considerations involved in choosing between Medicare Advantage and Medigap plans.

The HelloNation article features insights from Financial Advisor Ash Toumayants of Strong Tower Associates. The article explains that both Medicare Advantage and Medigap supplement Original Medicare but differ significantly in how they handle healthcare providers, prescription coverage, and overall out-of-pocket expenses.

Medicare Advantage plans are typically offered through private insurers and bundles Medicare Part A, Part B, and possibly prescription coverage into a single policy. However, Medicare Advantage plans generally operate with provider networks, meaning healthcare providers must often be selected from within the plan’s approved list.

For residents across Pennsylvania, provider access can play an important role in selecting the right plan. The article explains that individuals should review which healthcare providers are included in a Medicare Advantage network before enrolling. Plan networks may vary by county in Pennsylvania, so residents should confirm that their preferred doctors and specialists are covered.

Medigap plans, also known as Medicare Supplement Insurance, operate differently from Medicare Advantage. The article explains that Medigap works alongside Original Medicare and helps cover certain out-of-pocket expenses such as copays, coinsurance, and deductibles. Although Medigap policies generally involve higher monthly premiums, they can offer greater predictability in medical expenses.

One advantage of Medigap is flexibility in choosing healthcare providers. The article explains that individuals with Medigap coverage can typically visit any doctor or specialist who accepts Medicare nationwide. This broader provider access can be beneficial for retirees who want more freedom in choosing healthcare providers across Pennsylvania or while traveling.

Prescription coverage is another important factor in the decision process. Many Medicare Advantage plans include prescription coverage as part of their bundled benefits. In contrast, Medigap plans do not include prescription coverage, which means individuals who choose Medigap often purchase a separate Medicare Part D plan to manage medication costs.

Budget considerations also influence the decision between Medicare Advantage and Medigap. The article explains that while Medicare Advantage plans may have lower premiums, they often include copays and service limits that affect annual out-of-pocket expenses. Medigap plans generally involve higher premiums but may reduce unexpected out-of-pocket expenses throughout the year.

Travel and lifestyle habits can also affect which plan is more suitable. The article explains that Medicare Advantage plans may have limitations on out-of-network care outside their coverage area. For residents in Pennsylvania who travel frequently or spend time in multiple locations, Medigap coverage may offer greater flexibility when accessing healthcare providers.

Enrollment timing is another important consideration discussed in the article. Medicare Advantage and Medigap plans have different enrollment rules and deadlines tied to the Initial Enrollment Period or the annual Medicare Open Enrollment period. Missing these enrollment opportunities can limit plan choices or result in additional underwriting requirements.

The article concludes that choosing between Medicare Advantage and Medigap in Pennsylvania requires careful evaluation of healthcare providers, prescription coverage, travel habits, budget considerations, and potential out-of-pocket expenses. Comparing plan structures and reviewing coverage details helps individuals make informed decisions that align with their healthcare and financial priorities.

How to Decide Between Medicare Advantage & Medigap features insights from Ash Toumayants, Financial Advisor of State College, PA, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hellonation-examines-medicare-advantage–medigap-coverage-differences-featuring-financial-advisor-ash-toumayants-302829329.html

SOURCE HelloNation

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In HelloNation, Pool & Landscaping Expert Tina Possehn Wolbers Discusses What Pool Opening & Closing Services Include

Published

39 minutes ago

on

July 24, 2026

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The article highlights how seasonal pool service simplifies pool maintenance and protects backyard pools year-round.

LANSING, Mich., July 24, 2026 /PRNewswire/ — What is included with pool opening and closing services, and how do they support pool ownership? The answer is explored in a HelloNation article, which features insights from Tina Possehn Wolbers of Wolbers-Possehn Pools, Ponds and Landscapes.

The HelloNation article explains that seasonal pool service plays a key role in maintaining a backyard pool throughout the year. By handling the transition between seasons, pool opening service and pool closing service make pool maintenance more manageable and allow homeowners to focus on enjoying their space.

Pool opening service marks the beginning of the swimming season. One of the first steps is removing the pool cover, which has protected the pool during colder months. The pool cover is carefully cleaned and stored, helping extend its lifespan and prepare it for future use. Once removed, the backyard pool begins to take shape as a clean and inviting environment.

Another important part of pool opening service is reconnecting and inspecting pool equipment. Pumps, filters, and circulation systems are checked to ensure they are functioning properly. This step helps restore water flow and sets the foundation for effective pool maintenance throughout the season.

Water level adjustments and water balancing are also essential components of pool opening service. Ensuring proper water levels allows systems to run efficiently, while water balancing helps create a safe and comfortable swimming environment. These steps help homeowners enjoy their backyard pool without unnecessary complications.

The article emphasizes that pool opening service and pool closing service are key components of seasonal pool service, helping simplify pool maintenance and reduce the stress of managing a pool. With a structured approach, homeowners can rely on consistent care that keeps their pool in good condition.

Pool closing service prepares the pool for colder months when it is not in use. This process includes lowering the water level to help prevent potential damage. Proper water management during pool closing service helps protect the structure and equipment over time.

Protecting plumbing lines is another critical part of pool closing service. Water is removed from pipes to prevent freezing and expansion, which could lead to damage. Taking these steps ensures that the system remains intact and ready for the next pool opening service.

Securing the pool cover completes the process. A properly fitted pool cover keeps debris out and helps maintain water quality during the off-season. It also makes the next pool opening service easier by reducing the amount of cleaning required.

Seasonal pool service provides a more predictable and low-stress experience for homeowners. Instead of handling every detail themselves, pool owners can rely on professional processes that keep their backyard pool functioning properly year after year.

Beyond maintenance, a well-cared-for backyard pool becomes a space for relaxation and connection. Whether hosting gatherings or enjoying quiet time, the pool adds value to everyday life. Pool opening service and pool closing service support that experience by keeping the pool ready when it matters most.

The HelloNation article concludes that understanding what is included in seasonal pool service helps homeowners set clear expectations and maintain their pool with confidence. With proper pool maintenance, water balancing, and use of a secure pool cover, owning a backyard pool in Lansing becomes both simple and enjoyable.

What Is Included With Pool Opening & Closing Services in Lansing? features insights from Tina Possehn Wolbers, Pool & Landscaping Expert of Lansing, MI, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-hellonation-pool–landscaping-expert-tina-possehn-wolbers-discusses-what-pool-opening–closing-services-include-302829324.html

SOURCE HelloNation

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Verra Mobility Schedules Second Quarter 2026 Earnings Call

Published

39 minutes ago

on

July 24, 2026

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MESA, Ariz., July 24, 2026 /PRNewswire/ — Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that it will report financial results for the second quarter ended June 30, 2026, after market close on August 5, 2026.

Verra Mobility’s Interim Chief Executive Officer, Jon Keyser, and Chief Financial Officer, Craig Conti, will host a conference call and live webcast to discuss financial results for investors and analysts at 5:00 p.m. ET on August 5, 2026.

A live webcast will be available on the Company’s Investor Relations website at ir.verramobility.com. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. A replay of the call will also be made available on the Investor Relations website.

In addition, an archived webcast will be available in the “News & Events” section of Verra Mobility’s Investor Relations website at ir.verramobility.com.

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility’s transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility principally operates in North America, Europe and Australia. For more information, please visit www.verramobility.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Verra Mobility’s plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. The forward-looking statements herein represent the judgment of Verra Mobility, as of the date of this release, and Verra Mobility disclaims any intent or obligation to update forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. This press release should be read in conjunction with the information included in Verra Mobility’s other press releases, reports and other filings with the SEC and on the SEC website, www.sec.gov. Understanding the information contained in these filings is important in order to fully understand Verra Mobility’s reported financial results and our business outlook for future periods. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements.

Additional Information

We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com. We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the Company’s press releases, SEC filings and public conference calls and webcasts.

Media Relations:

Investor Relations:

Valerie Schneider

Mark Zindler

valerie.schneider@verramobility.com

mark.zindler@verramobility.com 

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SOURCE Verra Mobility

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