Verra Mobility expands its tolling technology partnership with Hertz
The companies will utilize AI and connected-vehicle technologies to enhance fleet operations while maintaining existing violations management services across North America.
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Smart transportation technology and services provider
verramobility.comLast updated
In short: Verra Mobility navigated a CEO transition and shareholder lawsuits while securing major contracts and renewing key rental fleet partnerships.
The companies will utilize AI and connected-vehicle technologies to enhance fleet operations while maintaining existing violations management services across North America.
Total revenue reached $263.6 million; net loss was $48.2 million. Contract extensions with Avis and Hertz were signed, and full-year guidance was revised.
The new seven-year contract covers tolling and violations services, expected to be materially less favorable financially.
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