Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 03, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	VERRA MOBILITY CORP
Entity Central Index Key	0001682745
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	VRRM
Entity Common Stock, Shares Outstanding		158,556,642

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 91,484	$ 65,048
Restricted cash	1,704	2,033
Accounts receivable, net	94,630	87,511
Unbilled receivables	16,753	12,956
Prepaid expenses and other current assets	19,012	17,600
Total current assets	223,583	185,148
Installation and service parts, net	10,822	9,282
Property and equipment, net	71,686	69,243
Intangible assets, net	491,853	514,542
Goodwill	565,596	564,723
Other non-current assets	2,072	1,845
Total assets	1,365,612	1,344,783
Current liabilities:
Accounts payable	52,239	45,188
Accrued liabilities	30,448	14,444
Current portion of long-term debt	9,104	9,104
Total current liabilities	91,791	68,736
Long-term debt, net of current portion and deferred financing costs	859,768	860,249
Other long-term liabilities	3,633	3,369
Payable related to tax receivable agreement	66,097	69,996
Asset retirement obligation	6,855	6,750
Deferred tax liabilities	32,647	33,627
Total liabilities	1,060,791	1,042,727
Commitments and Contingencies
Stockholders' equity
Preferred stock, $.0001 par value
Common stock, $.0001 par value	16	16
Common stock contingent consideration	73,150	73,150
Additional paid-in capital	346,895	348,017
Retained earnings (accumulated deficit)	(110,743)	(113,306)
Accumulated other comprehensive loss	(4,497)	(5,821)
Total stockholders' equity	304,821	302,056
Total liabilities and stockholders' equity	$ 1,365,612	$ 1,344,783

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
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 STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Total revenue	$ 98,461	$ 69,241
Operating expenses	29,338	23,681
Selling, general and administrative expenses	20,551	33,276
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net	28,941	18,544
Total costs and expenses	80,495	76,504
Income (loss) from operations	17,966	(7,263)
Interest expense	16,033	12,647
Loss on extinguishment of debt		10,151
Other income, net	(2,207)	(1,293)
Total other expense (income)	13,826	21,505
Income (loss) before income tax (benefit) provision	4,140	(28,768)
Income tax (benefit) provision	1,320	(6,610)
Net income (loss)	2,820	(22,158)
Other comprehensive income (loss):
Foreign currency translation adjustment	1,324
Total comprehensive income (loss)	$ 4,144	$ (22,158)
Earnings (loss) per share:
Basic weighted average shares outstanding	156,057,000	62,501,000
Basic earnings (loss) per share	$ 0.02	$ (0.35)
Diluted weighted average shares outstanding	156,458,000	62,501,000
Diluted earnings (loss) per share	$ 0.02	$ (0.35)
Service Revenue
Total revenue	$ 98,070	$ 69,006
Cost of revenue	1,389	831
Product Sales
Total revenue	391	235
Cost of revenue	$ 276	$ 172

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Contingent Consideration	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Loss
Beginning Balance at Dec. 31, 2017	$ 147,264	$ 6		$ 129,020	$ 18,238
Beginning Balance (in shares) at Dec. 31, 2017		60,484
Net income (loss)	(22,158)				(22,158)
Stock issued in exchange for HTA acquisition	57,271	$ 1		57,270
Stock issued in exchange for HTA acquisition (in shares)		6,051
Ending Balance at Mar. 31, 2018	182,377	$ 7		186,290	(3,920)
Ending Balance (in shares) at Mar. 31, 2018		66,535
Beginning Balance at Dec. 31, 2018	302,056	$ 16	$ 73,150	348,017	(113,306)	$ (5,821)
Beginning Balance (in shares) at Dec. 31, 2018		156,057
Net income (loss)	2,820				2,820
Cumulative effect of adoption of new accounting standard	(257)				(257)
Adjustment to equity infusion from Gores	(6,205)			(6,205)
Adjustment to tax receivable agreement liability	2,940			2,940
Stock-based compensation	2,143			2,143
Other comprehensive loss	1,324					1,324
Ending Balance at Mar. 31, 2019	$ 304,821	$ 16	$ 73,150	$ 346,895	$ (110,743)	$ (4,497)
Ending Balance (in shares) at Mar. 31, 2019		156,057

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 2,820	$ (22,158)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	28,939	18,550
Amortization of deferred financing costs and discounts	1,833	1,644
Loss on extinguishment of debt		10,151
Accretion expense	90	97
Write-downs of installation and service parts and (gain) loss on disposal of assets	3	(6)
Installation and service parts expense	257	125
Bad debt expense	1,270	1,140
Deferred income taxes	(1,073)	(6,805)
Stock-based compensation	2,143
Changes in operating assets and liabilities:
Accounts receivable, net	(8,372)	(3,614)
Unbilled receivables	(3,797)	(4,171)
Prepaid expense and other current assets	(1,301)	(1,138)
Other assets	(226)	(576)
Accounts payable and accrued liabilities	18,413	3,452
Other liabilities	(3,648)	113
Net cash provided by (used in) operating activities	37,351	(3,196)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business, net of cash and restricted cash acquired		(531,741)
Purchases of installation and service parts and property and equipment	(9,219)	(5,885)
Cash proceeds from the sale of assets and insurance recoveries	52	185
Net cash used in investing activities	(9,167)	(537,441)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on revolver		468
Repayment on revolver		(468)
Borrowings of long-term debt		1,033,800
Repayment of long-term debt	(2,276)	(448,375)
Payment of debt issuance costs	(37)	(29,242)
Payment of debt extinguishment costs		(8,187)
Net cash provided by (used in) financing activities	(2,313)	547,996
Effect of exchange rate changes on cash and cash equivalents	236
Net increase in cash, cash equivalents and restricted cash	26,107	7,359
Cash, cash equivalents and restricted cash - beginning of period	67,081	10,509
Cash, cash equivalents and restricted cash - end of period	93,188	17,868
Supplemental cash flow information:
Interest paid	13,890	5,745
Income taxes paid (refunded), net	(4,710)	321
Supplemental non-cash investing and financing activities:
Non-cash additions (reductions) to ARO, property and equipment, and other	28
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period end	$ 4,084	3,009
Capital contribution received in Parent common stock		57,270
Payable to seller in connection with business acquisition		$ 12,056

Basis of Presentation and Description of Business

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation and Description of Business

1.	Basis of Presentation and Description of Business

Basis of Presentation

Verra Mobility Corporation (collectively with its subsidiaries, the “Company” or “Verra Mobility”), formerly known as Gores Holdings II, Inc. (“Gores”), was originally incorporated in Delaware on August 15, 2016, as a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more target businesses. On January 19, 2017, the Company consummated its initial public offering (the “IPO”), following which its shares began trading on the Nasdaq Capital Market (“Nasdaq”).

On June 21, 2018, Gores, AM Merger Sub I, Inc., a direct, wholly-owned subsidiary of Gores (“First Merger Sub”), AM Merger Sub II, LLC, a direct, wholly-owned subsidiary of Gores (“Second Merger Sub”), Greenlight Holding II Corporation (“Greenlight”), and PE Greenlight Holdings, LLC entered into an Agreement and Plan of Merger as amended on August 23, 2018 by that certain Amendment No. 1 to Agreement and Plan of Merger (as amended, the “Merger Agreement”), which provided for, among other things, (i) the merger of First Merger Sub with and into Greenlight, with Greenlight continuing as the surviving corporation (the “First Merger”) and (ii) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of Greenlight with and into Second Merger Sub, with Second Merger Sub continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Merger” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).

In connection with the closing of the Business Combination on October 17, 2018 (the “Closing Date”), Gores changed its name from Gores Holdings II, Inc. to Verra Mobility Corporation, changed its trading symbols on Nasdaq from “GSHT,” and “GSHTW,” to “VRRM” and “VRRMW,” and Second Merger Sub changed its name from AM Merger Sub II, LLC to Verra Mobility Holdings, LLC. 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. The Business Combination is treated as a reverse acquisition and recapitalization in which Greenlight is treated as the accounting acquirer (and legal acquiree) and Gores is treated as the accounting acquiree (and legal acquirer). Accordingly, as of the Closing Date, Greenlight’s historical results of operations replaced Gores’ historical results of operations for periods prior to the Business Combination, and the results of operations of both companies are included in the accompanying condensed consolidated financial statements for periods following the Merger (see Note 3).

On May 31, 2017, Greenlight Acquisition Corporation (“Parent”) acquired ATS Consolidated Inc. (“ATS”) pursuant to the Agreement and Plan of Merger, dated April 15, 2017 by and among ATS, Greenlight Merger Corporation, a wholly-owned subsidiary of Parent (“ATS Merger Sub”) and Parent whereby ATS Consolidated merged with and into Merger Sub with the former surviving (the “ATS Merger”). Prior to the Business Combination, Parent was ultimately owned by Greenlight, which in turn was owned by certain private equity investment vehicles sponsored by Platinum Equity, LLC (collectively, “Platinum”) (See Note 3).

Description of Business

Verra Mobility is a technology-enabled services company offering traffic safety and mobility solutions for state and local governments, commercial fleets and rental car companies. The Company has customers located throughout the United States, Canada and Europe. The Company is organized into two operating divisions: Government Solutions and Commercial Services (See Note 14).

The Government Solutions division provides complete, end-to-end red-light, speed, 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 and agencies of all sizes.

The Commercial Services division 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 and Europe. Electronic toll payment services enable fleet drivers and rental car customers to use high-speed cashless toll lanes or cashless all-electronic 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.

Significant Accounting Principles and Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Significant Accounting Principles and Policies

2.	Significant Accounting Principles and 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”). All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation.

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 carrying amount of installation and service parts, the allowance for doubtful accounts, 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.

Recent Accounting Pronouncements

Accounting Standards Adopted

In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which requires that restricted cash be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We elected to early adopt the requirements of the new standard in the fourth quarter of 2018 using the retrospective transition method, as required by the new standard. The adoption of this ASU had an immaterial impact to the condensed consolidated statements of cash flows.

The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheet as of March 31, 2018 that sums to the total of such amounts in the condensed consolidated statements of cash flows for the three months ended March 31, 2018:

($ in thousands)
Cash and cash equivalents	$	15,703
Restricted cash		2,165
Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$	17,868

Revenue Recognition

On January 1, 2019, the Company adopted ASU 2014-09, Revenue from Contracts with Customers, Topic 606 (“ASC 606”) using the modified retrospective method applied to those contracts that were not completed as of the adoption date. Results for 2019 are presented under ASC 606, while prior periods were not adjusted and are reported under ASC Topic 605, Revenue Recognition (“ASC 605”).

The Company has evaluated its current accounting practices to the requirements of ASC 606. This evaluation included an assessment of representative contracts from each of the Company’s revenue streams. The adoption of this standard did not have a material impact on the Company’s financial position, results of operations or cash flows, however, there have been additions and modification to its existing financial disclosures. While the overall revenue, systems and controls were minimally impacted by the new standard, the underlying recognition methodology has changed.

Under the new standard, the Company now recognizes revenue when the Company satisfies the performance obligation, including, for some of its contracts, the processing of the violation on the customer’s behalf. The primary difference under ASC 606 within the Government Solutions segment is the deferral of revenue related to certain variable price contracts, until citation payment. The Company recorded a $0.3 million reduction to opening retained earnings as of January 1, 2019 for the cumulative impact of adoption related to the recognition of revenue in its Government Solutions segment. There was no cumulative impact of adoption related to the Commercial Services segment.

The comparative information was not restated and continues to be presented under ASC 605 for those periods. There was no material impact upon adoption related to the costs of obtaining or fulfilling a contract.

Nature of goods and services

The following is a description of principal activities – separated by reportable segments – from which the Company generates revenue:

Government Solutions Segment: The Government Solutions segment principally generates revenue from providing complete, end-to-end red light, speed, school bus stop arm, and bus lane enforcement solutions. Products, when sold, are typically sold together with the services in a bundle. The average initial term of a contract is 3 to 5 years. Payment terms for contracts with government agencies vary depending on whether the consideration is fixed or variable. Payment terms for contracts with fixed consideration are usually based on equal installments over the duration of the contract. Payment terms for contracts with variable consideration are usually billed and collected as citations are issued or paid.

For bundled packages, the Company accounts for individual products and services separately if they are distinct – i.e., if a product or service is separately identifiable from other items in the bundle and if a customer can benefit from it as a stand-alone item. The consideration is allocated between separate products and services in a bundle based on their stand-alone selling prices (“SSP”). The Company estimates the SSP of its services based upon observable evidence, market conditions and other relevant inputs.

•

Product sales (sale of camera and installation) – The Company recognizes revenue when the installation process is completed and the camera is ready to perform the services as expected by the customer. Generally, it occurs at site acceptance or first citation. The Company recognizes revenue for the sale of the camera and installation services at a point in time.

•

Service revenue – The Company determined its performance obligation is to provide a complete end-to-end safety and enforcement solution. Promises include providing a system to capture images, processing images taken by the camera, forwarding eligible images to the local police department and processing payments on behalf of the municipality. The Company determined that certain of the promises to its customers are capable of being distinct, as they may provide some measure of benefit to the customer either on their own or together with other resources that are readily available to the customer. However, the Company determined that the promises to its customers do not meet the criterion of being distinct within the context of its contracts. The Company would not be able to fulfill its promises individually, as its customers could not obtain the intended benefit from the contract without the Company fulfilling all promises. Accordingly, the Company concluded that each contract represents one service offering and is a single performance obligation to our customer. Further, the Company accounts for all the services as a single continuous service. The Company applies the series guidance for those services as the nature of the service is to provide a service for a period of time with distinct time increments. The Company recognizes revenue from services over time, as they are performed.

Commercial Services Segment: 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 and Europe. The Company determined its performance obligation is a distinct stand-ready obligation, as there is an unspecified quantity of services provided that does not diminish, and the customer is being charged only when it uses the Company’s services, such as toll payment, title and registration, etc. Therefore, all services provided within the Commercial Services segment are accounted for as a single performance obligation, of a series of distinct items, with distinct time increments, as a stand-ready obligation. Payment terms for contracts with commercial fleet and rental car companies vary, but are usually billed as services are performed. Revenue from services provided in the Commercial Services segment is recognized over time as the customer simultaneously receives and consumes the benefits provided by the Company and as the Company performs the services.

Remaining Performance Obligations

As of March 31, 2019, the Company had approximately $0.3 million of remaining performance obligations in the Government Solutions segment, which include amounts that will be invoiced and recognized in future periods. The remaining performance obligations are limited only to arrangements that meet the definition of a contract under ASC 606 as of March 31, 2019. As these amounts relate to the initial deferral of revenue under a contract, the Company expects to recognize these amounts over a two month period at the end of the contract.

The Company applies the practical expedient in paragraph 606-10-50-14A of ASC 606 and does not disclose variable consideration allocated entirely to wholly unsatisfied stand-ready performance obligations for certain Government Solutions and Commercial Services contracts as part of the information about remaining performance obligations. The duration for these contracts ranges between 3 and 5 years for new contracts.

Significant judgments

Under the new revenue standard, significant judgments are required in order to identify contracts with customers and estimate transaction prices. Additional judgments are required for the identification of distinct performance obligations, the estimation of standalone selling prices and the allocation of the transaction price by relative standalone selling prices. Assumptions regarding timing of when control transfers to the customer requires significant judgment in order to recognize revenue. The Company makes significant judgments related to identifying the performance obligation and determining whether the services provided are able to be distinct, determining the transaction price, specifically as it is related to the different variable consideration structures identified in the Company’s contracts, and in determining the timing of revenue recognition.

Accounting Standards Not Yet Adopted

In January 2016, the FASB issued ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The main objective of this update is to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. The new guidance addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most notably, ASU 2016-01 requires the change in fair value of available for sale securities to be recognized in net income. The pronouncement also requires the use of the exit price notion, the separate presentation of financial assets and liabilities by measurement category and form of asset, and the separate presentation in other comprehensive income of changes in fair value resulting from a change in the instrument-specific credit risk. ASU 2016-01 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The impact of the implementation of this standard is still being determined by the Company.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) and issued certain amendments within ASU 2018-01, 2018-10, 2018-11 and ASU 2019-01, respectively and collectively Topic 842 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2019, and early adoption is permitted. The Company does not plan to early adopt this standard. The impact of the implementation of this standard is still being determined by the Company.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), which requires companies to present assets held at amortized cost and available for sale debt securities net of the amount expected to be collected. The guidance requires the measurement of expected credit losses to be based on relevant information from past events, including historical experiences, current conditions and reasonable and supportable forecasts that affect collectability. The guidance will be effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted. Different components of the guidance require modified retrospective or prospective adoption. The impact of the implementation of this standard is still being determined by the Company.

In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350). ASU 2017-04 simplifies the accounting for goodwill impairment and removes Step 2 of the goodwill impairment test. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value limited to the total amount of goodwill allocated to that reporting unit. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. The amendments in this ASU are effective for goodwill impairment tests in fiscal years beginning after December 15, 2021. The impact of the implementation of this standard is still being determined by the Company.

In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. These amendments expand the scope of Topic 718, Compensation—Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. ASU 2018-07 is effective beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, but no earlier than a company’s adoption date of Topic 606, Revenue from Contracts with Customers. At this time, the Company does not expect this standard to have a material effect on the Company’s financial position, results of operations or cash flows and disclosures.

In August 2018, the FASB issued ASU 2018-13, (Topic 820) Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until their effective date. The impact of the implementation of this standard is still being determined by the Company.

Merger and Acquisition

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Merger and Acquisition

3.	Mergers and Acquisitions

Verra Mobility Merger

As described in Note 1, Gores and Greenlight consummated the Business Combination on October 17, 2018. Pursuant to Business Combinations (Topic 805), the Business Combination qualified as a reverse acquisition because immediately following completion of the transaction the stockholders of Greenlight immediately prior to the Business Combination maintained effective control of Verra Mobility, the post-combination company. For accounting purposes, Greenlight is deemed the accounting acquirer in the transaction and, consequently, the transaction is treated as recapitalization of Greenlight (i.e. a capital transaction involving the issuance of stock by Greenlight in exchange for the payment of cash by Gores to the selling shareholders of Greenlight). Accordingly, the consolidated assets, liabilities and results of operations of Greenlight are the historical financial statements of Verra Mobility and the Gores assets, liabilities and results of operations are consolidated with Greenlight beginning on the acquisition date. No step-up in basis of intangible assets or goodwill was recorded for this transaction. The Company effected this treatment through opening stockholders’ equity by adjusting the number of common shares outstanding. Other than underwriting and professional fees paid to consummate the transaction, the Business Combination primarily involved the exchange of cash and equity between Gores, Greenlight and the stockholders of the respective companies. During the three months ended March 31, 2019, the Company recorded a $6.2 million payable to Platinum, a related party, for the recapitalization related to the working capital adjustment required by the merger agreements. This resulted in a decrease to the additional paid-in capital account for $6.2 million, and a corresponding increase to accrued liabilities.

ATS Merger

On May 31, 2017, ATS was acquired by Parent through the merger of ATS Merger Sub with and into ATS for a total purchase price of $548.2 million ($550.0 million less adjustments set forth in the ATS Merger agreement). The Company recognized approximately $9.9 million of costs related to the ATS Merger, which consisted of $8.0 million of payments for acquisition services to Platinum Equity Advisors, LLC, an affiliate of Platinum (“Advisors”), and $1.9 million of professional fees and other expenses related to the ATS Merger.

On May 31, 2017, ATS Merger Sub obtained debt financing pursuant to a credit agreement entered into with a syndicate of lenders. ATS Merger Sub was merged with and into ATS on the same date, effectively making ATS the sole borrower (see Note 7).

HTA Merger

On March 1, 2018, the Company acquired all of the issued and outstanding membership interests of Highway Toll Administration, LLC, and Canada Highway Toll Administration (collectively, “HTA”), pursuant to a unit purchase agreement (“Unit Agreement”) for a cash purchase price of $525.0 million subject to adjustments set forth in the Unit Agreement which aggregated $9.7 million, a $11.3 million payable to the HTA sellers for certain tax items and the issuance of 5.26 shares of Greenlight common stock resulting in an aggregate purchase price of $603.3 million (the “HTA Merger”). The Greenlight shares issued to the Company were determined to have a fair value of $57.3 million. The Company reflected the receipt of the Greenlight common shares as a capital contribution from Parent and then delivered these shares to the HTA sellers as non-cash purchase consideration.

The Company estimated the fair value of the Greenlight common shares issued in connection with this transaction with input from management and a contemporaneous third-party valuation of the Company. Management determined the fair value of Greenlight was the same as the Company as Greenlight’s only holdings were the Company. The valuation advisory firm prepared a valuation report as of March 1, 2018. The assumptions and inputs used in connection with the valuation reflected management’s best estimate of the Company’s business condition, prospects and operating performance on the valuation date. The Company averaged the results of a discounted cash flow analysis, comparable public company analysis and comparable acquisitions analysis to determine an enterprise value of $2.1 billion. The Company then deducted debt of $1.0 billion to arrive at a concluded equity value of $1.1 billion, which was used to derive a per share value.

($ in thousands)
Assets acquired
Cash	$	2,996
Accounts receivable		10,220
Prepaid expense and other current assets		5,266
Installation and service parts		296
Property and equipment		996
Customer relationships		242,500
Developed technology		72,800
Non-compete agreements		48,500
Trademark		5,500
Goodwill		233,271
Total assets acquired		622,345
Liabilities assumed
Accounts payable and accrued expenses		14,268
Deferred tax liability		4,733
Total liabilities assumed		19,001
Total purchase price	$	603,344

The excess of cost of the HTA Merger over the net amounts assigned to the fair value of the net assets acquired was recorded as goodwill and was assigned to the Company’s Commercial Services segment. The Company made certain immaterial adjustments to the preliminary purchase price allocation resulting in a $1.2 million net reduction to goodwill. The goodwill consists largely of the expected cash flows and future growth anticipated for the Company. Most of the goodwill is expected to be deductible for tax purposes. The customer relationship value was based on an excess earnings methodology utilizing projected cash flows. The non-compete agreement values were based on the with-or-without method. The trademark and the developed technology values were based on a relief from royalty method. The customer relationship, developed technology, non-compete and trademark intangibles were assigned useful lives of 9 years, 5.5 years, 5 years and 3 years, respectively.

The Company recognized $15.6 million of costs related to the HTA Merger, which were included in selling, general and administrative expenses in the condensed consolidated statement of operations in the three months ended March 31, 2018. These costs consisted of $7.2 million for acquisition services to Advisors and $8.4 million of professional fees and other expenses related to the transaction.

EPC Merger

On April 6, 2018, the Company acquired all of the issued and outstanding capital stock of Euro Parking Collection plc (“EPC”), pursuant to a stock purchase agreement for purchase consideration of 5.54 shares of Greenlight common stock and working capital adjustments set forth in the share purchase agreement, which aggregated $2.6 million, resulting in an aggregate purchase price of $62.9 million (the “EPC Merger”). The Company reflected the receipt of the Greenlight II common shares as a capital contribution from Parent and then delivered these shares to the EPC sellers as non-cash purchase consideration.

The Company estimated the fair value of the Greenlight common shares issued in connection with this transaction with input from management and a contemporaneous third-party valuation of the Company.

Management determined the fair value of Greenlight was the same as the Company as Greenlight’s only holdings were the Company. The valuation advisory firm prepared a valuation report as of March 1, 2018. The assumptions and inputs used in connection with the valuation reflected management’s best estimate of the Company’s business condition, prospects and operating performance on the valuation date. The Company averaged the results of a discounted cash flow analysis, comparable public company analysis and comparable acquisitions analysis to determine an enterprise value of $2.1 billion. The Company then deducted debt of $1.0 billion to arrive at a concluded equity value of $1.1 billion, which was used to derive a per share value.

The allocation of the purchase consideration is summarized as follows:

($ in thousands)
Assets acquired
Cash	$	9,029
Other assets		1,948
Trademark		1,100
Customer relationships		19,400
Developed technology		3,900
Goodwill		40,826
Total assets acquired		76,203
Liabilities assumed
Accounts payable and accrued expenses		8,995
Deferred tax liability		4,273
Total liabilities assumed		13,268
Total purchase price	$	62,935

Goodwill arising from the EPC Merger was assigned to the Company’s Commercial Services segment and consists largely of the expected cash flows and future growth anticipated for the Company. The goodwill is not expected to be deductible for tax purposes. The customer relationship value was based on an excess earnings methodology utilizing projected cash flows. The trademark and the developed technology values were based on a relief from royalty method. The customer relationship, trademark, and developed technology intangibles were preliminarily assigned useful lives of 10 years, 5 years and 4.5 years, respectively.

The Company recognized $3.0 million of costs related to the EPC Merger in the three months ended June 30, 2018, which consisted of $2.5 million for acquisition services to Advisors and $0.5 million of professional fees and other expenses.

Pro Forma Financial Information

The pro forma information below gives effect to the Merger, the HTA Merger and the EPC Merger (collectively, the “Transactions”) as if they had been completed on the first day of the period presented. The pro forma results of operations are presented for information purposes only. As such, they are not necessarily indicative of the Company’s results had the Transactions been completed on the first day of the period presented, nor do they intend to represent the Company’s future results. The pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisitions and does not reflect additional revenue opportunities following the Transactions. The pro forma information includes adjustments to record the assets and liabilities associated with the Transactions at their respective fair values based on available information and to give effect to the financing for the Transactions.

	Three Months Ended
($ in thousands)	March 31, 2018
Revenue	$	88,462
Loss from operations		(2,201	)
Net loss before income tax benefit		(14,774	)
Net loss		(11,752	)
Loss per share - basic	$	(0.19	)

The pro forma results include adjustments to reflect additional amortization of intangibles associated with the acquired businesses and additional interest expense for debt issued in connection with the HTA Merger.

Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2019

Prepaid Expense And Other Assets Current [Abstract]

Prepaid Expenses and Other Current Assets

4.	Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets, consist of the following at:

($ in thousands)	March 31, 2019		December 31, 2018
Prepaid income taxes	$	248	$	1,562
Prepaid services		3,584		3,017
Prepaid tolls		10,375		8,434
Prepaid computer maintenance		2,515		1,709
Prepaid insurance		897		1,230
Deposits		873		839
Prepaid rent		490		406
Other		30		403
Total prepaid expenses and other current assets	$	19,012	$	17,600

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

5.	Goodwill and Intangible Assets

The following table presents the changes in the carrying amount of goodwill by reportable segment:

	Government		Commercial
($ in thousands)	Solutions		Services		Total
Balance at December 31, 2018	$	159,746	$	404,977	$	564,723
Foreign currency translation adjustment		—		873		873
Balance at March 31, 2019	$	159,746	$	405,850	$	565,596

Intangible assets consist of the following as of the respective period ends:

	March 31, 2019						December 31, 2018
	Weighted						Weighted
	Average	Gross					Average	Gross
	Remaining	Carrying			Accumulated		Remaining	Carrying			Accumulated
($ in thousands)	Useful Life	Amount			Amortization		Useful Life	Amount			Amortization
Trademarks	2.4 years	$	31,324		$	11,448	2.7 years	$	31,302		$	8,902
Non-compete agreements	3.8 years		62,100			15,495	4.0 years		62,100			12,390
Customer relationships	7.6 years		360,158			52,349	7.9 years		359,768			42,201
Developed technology	4.0 years		160,930			43,367	4.3 years		160,852			35,987
Gross carrying value of intangible assets			614,512		$	122,659			614,022		$	99,480
Less: accumulated amortization			(122,659	)					(99,480	)
Intangible assets, net		$	491,853					$	514,542

The amortization expense was $23.1 million and $12.3 million for the three months ended March 31, 2019 and 2018, respectively.

Estimated amortization expense in future years is expected to be:

($ in thousands)
Remainder of 2019	$	69,159
2020		92,290
2021		83,998
2022		79,274
2023		50,813
2024		40,321
Thereafter		75,998
Total	$	491,853

Accrued Liabilities

3 Months Ended

Mar. 31, 2019

Payables And Accruals [Abstract]

Accrued Liabilities

6.	Accrued Liabilities

Accrued liabilities consist of the following at:

($ in thousands)	March 31, 2019		December 31, 2018
Accrued salaries and wages	$	7,194	$	8,340
Restricted cash due to customers		1,704		2,033
Income taxes payable		6,002		862
Accrued interest payable		542		232
Advanced deposits payable		6,334		805
Gores equity infusion working capital adjustment payable to related party		6,205		—
Current portion of related party TRA liability		959		—
Deferred rent		477		523
Accrued sales commissions		387		463
Other		644		1,186
Total accrued liabilities	$	30,448	$	14,444

Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

The following table provides a summary of the Company’s long-term debt at:

($ in thousands)	March 31, 2019			December 31, 2018
First lien term loan, due February 28, 2025	$	901,248		$	903,524
Less: original issue discounts		(5,534	)		(5,819	)
Less: unamortized deferred financing costs		(26,842	)		(28,352	)
Total debt		868,872			869,353
Less: Current portion of long-term debt		(9,104	)		(9,104	)
Total long-term debt, net of current portion	$	859,768		$	860,249

In connection with the ATS Merger, ATS Consolidated, Inc., subsequently renamed VM Consolidated, Inc., a wholly owned subsidiary of the Company, entered into a First Lien Term Loan Credit Agreement (the “Old First Lien”), a Second Lien Term Loan Credit Agreement (the “Old Second Lien”), (collectively the “Old Term Loans”), and a Revolving Credit Agreement (the “Old Revolver”) with a syndicate of lenders (collectively, the “2017 Credit Facilities”). The 2017 Credit Facilities provided for committed senior secured financing of $490.0 million, consisting of the following: the Old Term Loans in an aggregate principal amount of $450.0 million; and the Revolver, available for loans and letters of credit with an aggregate revolving commitment of up to $40.0 million (based on borrowing based eligibility as described below).

In connection with the HTA Merger, the Company replaced the 2017 Credit Facilities by entering into a First Lien Term Loan Credit Agreement (the “New First Lien Term Loan”), a Second Lien Term Loan Credit Agreement (the “New Second Lien Term Loan”), (collectively the “New Term Loans”) and a Revolving Credit Facility Agreement (the “New Revolver”) with a syndicate of lenders (collectively, the “2018 Credit Facilities”). The 2018 Credit Facilities provide for committed senior secured financing of $1.115 billion, consisting of the New Term Loans in an aggregate principal amount of $1.04 billion and the New Revolver available for loans and letters of credit with an aggregate revolving commitment of up to $75 million (based on borrowing based eligibility as described below).

The preexisting Old Term Loans were repaid concurrent with the closing on the 2018 Credit Facilities and the preexisting Old Revolver was undrawn at close. The outstanding balances at the date of close on the Old Term Loans, which were repaid with proceeds from the 2018 Credit Facilities, were $323.4 million and $125 million, respectively.

In July 2018, the Company amended the New First Lien Term Loan (the “New First Lien Term Loan Amendment”) to expand the aggregate principal loan amount under the New First Lien Term Loan from $840 million to $910 million and to modify certain defined terms. In connection with this amendment, the Company incurred a consent fee of $0.4 million, which was capitalized as deferred financing costs and is being amortized over the remaining life of the New First Lien Term Loan. The additional $70 million along with funds contributed by Platinum were used to repay the $200 million New Second Lien Term Loan in full contemporaneously with the close of the Business Combination on October 17, 2018.

The New First Lien Term Loan is repayable in quarterly installments of 1.0% per annum of the amount initially borrowed. The New First Lien Loan matures on February 28, 2025. The New First Lien Term Loan bears interest based, at our option, on either (1) LIBOR plus an applicable margin of 3.75% per annum, or (2) an alternate base rate plus an applicable margin of 2.75% per annum. At March 31, 2019, the interest rate on the New First Lien Term Loan was 6.25%.

In addition, the New First Term Loan contains provisions that require mandatory prepayments equal to 50% of excess cash flow (as defined by the New First Lien Term Loan agreement); provided that, at any time the consolidated first lien net leverage ratio (as defined by the New Term First Lien Loan agreement) on the last day of the fiscal year is less than or equal to 3.70:1.00 but greater than 3.20:1.00, the mandatory prepayment of the New First Lien Term Loan is equal to 25% of excess cash flow, and if less than 3.20:1.00, the mandatory prepayment is zero.

The New Revolver matures on February 28, 2023. Borrowing eligibility under the New 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, 2019, the Company had no outstanding borrowings on the New Revolver and availability to borrow under the New Revolver was $70.0 million, net of $1.0 million of outstanding letters of credit.

Interest on the unused portion of the New Revolver is payable quarterly at 0.375% at March 31, 2019. The Company also is required to pay participation and fronting fees on $1.0 million in outstanding letters of credit at 1.38% as of March 31, 2019.

All borrowings and other extensions of credits under the 2018 Credit Facilities 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, 2019, the Company was compliant with the 2018 Credit Facilities covenants. Substantially all of the Company’s assets are pledged as collateral to secure the Company’s indebtedness under the 2018 Credit Facilities.

The Company recognized a charge of $10.2 million in the three months ended March 31, 2018 consisting of a $3.8 million prepayment penalty on the Old Term Loan balances, a $2.0 million write-off of preexisting deferred financing costs and $4.4 million of lender and third-party costs associated with the issuance of the 2018 Credit Facilities.

The Company recorded interest expense, including amortization of deferred financing costs and discounts, of $16.0 million and $12.6 million for the three months ended March 31, 2019 and March 31, 2018, respectively.

The weighted average effective interest rate of the Company’s outstanding borrowings under the 2018 Credit Facilities was 6.25% at March 31, 2019.

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

8.	Fair Value Measurements

As of March 31, 2019 and December 31, 2018, the amounts of our assets and liabilities that were accounted for at fair value were immaterial.

ASC Topic 820, Fair Value Measurement includes a single definition of fair value to be used for financial reporting purposes, provides a framework for applying this definition and for measuring fair value under GAAP, and establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are summarized as follows:

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.

Fair Value of Financial Instruments

The carrying amounts reported in our unaudited interim 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 our First Lien Term Loan as of March 31, 2019 and December 31, 2018 is categorized in Level 2 of the fair value hierarchy and was calculated based upon available market information. The carrying value and fair value of our long-term debt is as follows:

Level in

March 31, 2019

December 31, 2018

Fair Value

Carrying

Estimated

Carrying

Estimated

($ in thousands)

Hierarchy

Amount

Fair Value

Amount

Fair Value

Long-term debt

868,872

905,754

869,353

889,971

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

9.	Net Income (Loss) Per Share

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net income (loss) 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 Company has not included the effect of 19,999,967 warrants, 10,000,000 contingently issuable shares and 86,106 restricted stock units in the calculation of diluted net income per share for the three months ended March 31, 2019 because the inclusion of such shares would be antidilutive. The Company has not included the effect of 19,999,967 warrants in the calculation of diluted net loss for the three months ended March 31, 2018 because the inclusion of such shares would be antidilutive based on the net loss reported. Warrants are considered anti-dilutive and excluded when the exercise price exceeds the average market value of the Company’s common stock price during the applicable period.

The components of basic and diluted net income (loss) per share are as follows:

	Three Months Ended March 31,
(In thousands, except per share data)	2019		2018
Numerator:
Net income (loss)	$	2,820	$	(22,158	)
Denominator:
Weighted average shares - basic		156,057		62,501
Common stock equivalents		401		—
Weighted average shares - diluted		156,458		62,501
Net income (loss) per common share - basic	$	0.02	$	(0.35	)
Net income (loss) per common share - diluted	$	0.02	$	(0.35	)
Antidilutive shares excluded		30,086		20,000

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

10.	Income Taxes

Our interim income tax 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. We provide 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.

We provide a valuation allowance for deferred tax assets if it is more likely than not that these items will expire before we are able to realize their benefit. We calculate 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.

Our effective income tax rate was 31.9% and (23.0)% for the three months ended March 31, 2019 and 2018, respectively. The increase, compared to the same period in 2018, was primarily due to higher pretax income across multiple jurisdictions, and an increase in permanent differences between book and taxable income, including the 162(m) executive compensation limitation and the Global Intangible Low Tax Income inclusion.

The total amount of unrecognized tax benefits as of March 31, 2019 was $2.7 million, of which $2.5 million would affect our effective tax rate if recognized. We recognize interest and penalties related to unrecognized tax benefits through income tax expense. As of March 31, 2019, we had $0.8 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 return remains subject to income tax examinations by tax authorities for the years 2015 to 2018. The Company’s state income tax return is currently under examination by the State of Maryland Compliance Division for years 2015 to 2017. Various other state income tax returns for the years 2014 to 2018 are subject to income tax examination, and tax years prior to 2014 remain open in certain states due to tax attributes generated but not utilized yet. The Company regularly assesses the likelihood of additional tax deficiencies in each of the tax jurisdictions and, accordingly, makes appropriate adjustments to the tax provision as deemed necessary.

Stock based compensation

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based compensation

11.	Stock-based compensation

The following details the components of stock-based compensation for the three months ended March 31, 2019:

($ in thousands)
Operating expenses	$	204
Selling, general and administrative expenses		1,939
Total stock-based compensation expense	$	2,143

There were no corresponding stock compensation amounts in the three months ended March 31, 2018.

Related Party Transactions

3 Months Ended

Mar. 31, 2019

Related Party Transactions

12.	Related Party Transactions

Tax Receivable Agreement

At the closing of the Business Combination, the Company entered into a Tax Receivable Agreement (“TRA”) with the PE Greenlight Holdings, LLC (the “Platinum Stockholder”) and Greenlight as the stockholder representative (the “Stockholder Representative”). The TRA generally provides for the payment by the post-closing company to the Platinum Stockholder of 50% of the net cash savings, if any, in U.S. federal, state and local income tax that the post-closing company actually realizes (or is deemed to realize in certain circumstances) in periods after the closing of the Business Combination as a result of the increase in the tax basis of the intangible assets of HTA which resulted from the acquisition of HTA by Verra Mobility prior to the Business Combination. The post-closing company generally will retain the benefit of the remaining 50% of these cash savings. The Company estimated the potential maximum benefit to be paid will be approximately $70 million. The Company recorded an initial liability and corresponding charge to equity of $70 million at the closing of the Business Combination. Subsequently, the Company adjusted this amount. At March 31, 2019, the TRA was approximately $66 million. Future adjustments to the liability under the TRA will be based upon changes to future anticipated taxable income and tax rates and will be recorded in the statement of operations.

Earn-Out Agreement

Under the Merger Agreement, the Platinum Stockholder will be 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 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 period following the closing of the Business Combination (the “Common Stock Price”).

The Earn-Out Shares will be issued by the Company to the Platinum Stockholder as follows:

•

a one-time issuance of 2,500,000 shares if the Common Stock Price is greater than $13.00;

•

a one-time issuance of 2,500,000 shares if the Common Stock Price is greater than $15.50;

•

a one-time issuance of 2,500,000 shares if the Common Stock Price is greater than $18.00; and

•

a one-time issuance of 2,500,000 shares if the Common Stock Price is greater than $20.50.

If any of the Common Stock Price thresholds described in the foregoing clauses (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 Parent 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) Parent 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 has estimated the fair value of the contingently issuable shares to be $73.15 million. The Company used a Monte Carlo simulation option-pricing model to arrive at this 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 term. This is initially recorded as a distribution to shareholders and is presented as contingently issuable shares. Upon the occurrence of a Triggering Event, any issuable shares would be transferred from contingently issuable shares to common stock and additional paid in capital. 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 cancelled.

Advisory Services Agreement

On January 7, 2019, the Company entered into a new corporate advisory services agreement with Platinum Equity Advisors, LLC (“Advisors”), whereby Advisors will provide certain transactional and corporate advisory services to the Company as mutually agreed by the parties. No fees are payable under the agreement, but the Company must reimburse Advisors for its out-of-pocket expenses incurred in connection with services rendered.

Commitment and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

13.	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 $1.0 million at March 31, 2019.

The Company has issued non-cancelable purchase commitments to certain vendors. The aggregate non-cancelable purchase commitments outstanding at March 31, 2019 were $16.5 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.

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 was 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 condensed consolidated results of operations, cash flows, or financial position. However, the outcome of litigation is inherently uncertain. As additional information becomes available, the Company reassesses the potential liability.

Segment Reporting

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

14.	Segment Reporting

The Company has two operating and reportable segments, Government Solutions and Commercial Services. Government Solutions delivers traffic law enforcement services and products to state and local governments. Commercial Services delivers tolling and violation management services to rental car companies, commercial fleet vehicle owners and violation issuing authorities. The Company’s Chief Operating Decision Maker (“CODM”) function is comprised of the Company’s CEO and certain defined representatives of the Company’s executive management team. The Company’s CODM function monitors operating performance, allocates resources and deploys capital based on these two operating and reportable segments.

Segment performance is based on revenues and income (loss) from operations before depreciation, amortization, impairment and gain (loss) on disposal of assets, stock-based compensation and interest expense and after other (income) expense, net. The table below refers to this measure as Segment profit (loss). Depreciation, amortization, impairment and gain (loss) on disposal of assets, stock-based compensation, interest expense, loss on extinguishment of debt and income taxes are not indicative of operating performance, and, as a result are not included in the measures that are reviewed by the CODM function for the operating and reportable segments. Other (income) expense, net consists primarily of credit card rebates earned on the prepayment of tolling violations and 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, 2019 and March 31, 2018, respectively:

	For the three months ended March 31, 2019
	Government			Commercial			Corporate and
($ in thousands)	Solutions			Services			Other			Total
Service revenue	$	35,482		$	62,588		$	—		$	98,070
Product sales		391			—			—			391
Total revenue		35,873			62,588			—			98,461
Cost of service revenue		525			864			—			1,389
Cost of product sales		276			—			—			276
Operating expenses		14,038			15,096			—			29,134
Selling, general and administrative expenses		7,850			10,762			—			18,612
Other (income) expense, net		(37	)		(2,171	)		1			(2,207	)
Segment profit (loss)	$	13,221		$	38,037		$	(1	)	$	51,257
Segment profit (loss)	$	13,221		$	38,037		$	(1	)	$	51,257
Depreciation, amortization, impairment, and (gain) loss on disposal of assets, net		—			—			28,941			28,941
Stock-based compensation		—			—			2,143			2,143
Interest expense		—			—			16,033			16,033
Income (loss) before income tax provision	$	13,221		$	38,037		$	(47,118	)	$	4,140

	For the three months ended March 31, 2018
	Government			Commercial			Corporate and
($ in thousands)	Solutions			Services			Other			Total
Service revenue	$	36,559		$	32,447		$	—		$	69,006
Product sales		235			—			—			235
Total revenue		36,794			32,447			—			69,241
Cost of service revenue		654			177			—			831
Cost of product sales		172			—			—			172
Operating expenses		14,040			9,641			—			23,681
Selling, general and administrative expenses		6,122			21,594			5,560			33,276
Other (income) expense, net		(38	)		(1,288	)		33			(1,293	)
Segment profit (loss)	$	15,844		$	2,323		$	(5,593	)	$	12,574
Segment profit (loss)	$	15,844		$	2,323		$	(5,593	)	$	12,574
Depreciation, amortization, impairment, and (gain) loss on disposal of assets, net		—			—			18,544			18,544
Interest expense		—			—			12,647			12,647
Loss on extinguishment of debt		—			—			10,151			10,151
Income (loss) before income tax (benefit)	$	15,844		$	2,323		$	(46,935	)	$	(28,768	)

Guarantor/Non-Guarantor Financial Information

3 Months Ended

Mar. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Guarantor/Non-Guarantor Financial Information

15.	Guarantor/Non-Guarantor Financial Information

VM Consolidated, Inc. a wholly owned subsidiary of the Company is the lead borrower of the New First Lien Term Loan and the New 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, which is wholly owned by Greenlight Intermediate Holding Corporation, which is wholly owned by Greenlight Holding Corporation, which is wholly owned by Verra Mobility Holdings, LLC, which is wholly owned by Verra Mobility Corporation or the Company. Prior to the Business Combination, VM Consolidated, Inc. was known as ATS Consolidated, Inc. and its financial information was the same as the lead borrower. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Company’s wholly-owned subsidiary guarantors and non-guarantor subsidiaries.

The following financial information presents Condensed Consolidated Balance Sheets as of March 31, 2019 and the related Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2019 for the Company, Combined Guarantor Subsidiaries and Combined Non-Guarantor Subsidiaries:

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Balance Sheets

at March 31, 2019

(Unaudited)

			VM
	Verra Mobility		Consolidated Inc.
	Corporation		(Guarantor
($ in thousands)	(Ultimate Parent)		Subsidiary)		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	91,484	$	—		$	91,484
Restricted cash		—		1,704		—			1,704
Accounts receivable, net		—		94,630		—			94,630
Unbilled receivables		—		16,753		—			16,753
Investment in subsidiary		141,767		—		(141,767	)		—
Prepaid expenses and other current assets		—		19,012		—			19,012
Total current assets		141,767		223,583		(141,767	)		223,583
Installation and service parts, net		—		10,822		—			10,822
Property and equipment, net		—		71,686		—			71,686
Intangible assets, net		—		491,853		—			491,853
Goodwill		—		565,596		—			565,596
Due from affiliates		169,259		—		(169,259	)		—
Other non-current assets		—		2,072		—			2,072
Total assets	$	311,026	$	1,365,612	$	(311,026	)	$	1,365,612
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	—	$	52,239	$	—		$	52,239
Accrued liabilities		6,205		24,243		—			30,448
Current portion of long-term debt		—		9,104		—			9,104
Total current liabilities		6,205		85,586		—			91,791
Long-term debt, net of current portion and deferred financing costs		—		859,768		—			859,768
Other long-term liabilities		—		3,633		—			3,633
Payable related to tax receivable agreement				66,097		—			66,097
Due to affiliates		—		169,259		(169,259	)		—
Asset retirement obligation		—		6,855		—			6,855
Deferred tax liabilities		—		32,647		—			32,647
Total liabilities		6,205		1,223,845		(169,259	)		1,060,791
Total stockholders' equity		304,821		141,767		(141,767	)		304,821
Total liabilities and stockholders' equity	$	311,026	$	1,365,612	$	(311,026	)	$	1,365,612

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

Three Months Ended March 31, 2019

(Unaudited)

				VM
	Verra Mobility			Consolidated Inc.
	Corporation			(Guarantor
($ in thousands)	(Ultimate Parent)			Subsidiary)			Eliminations			Consolidated
Service revenue	$	—		$	98,070		$	—		$	98,070
Product sales		—			391			—			391
Total revenue		—			98,461			—			98,461
Cost of service revenue		—			1,389			—			1,389
Cost of product sales		—			276			—			276
Operating expenses		—			29,338			—			29,338
Selling, general and administrative expenses		—			20,551			—			20,551
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net		—			28,941			—			28,941
Total costs and expenses		—			80,495			—			80,495
Income from operations		—			17,966			—			17,966
(Income) loss from equity investment		(2,820	)		—			2,820			—
Interest expense		—			16,033			—			16,033
Other income, net		—			(2,207	)		—			(2,207	)
Total other expense (income)		(2,820	)		13,826			2,820			13,826
Income (loss) before income tax (benefit) provision		2,820			4,140			(2,820	)		4,140
Income tax provision		—			1,320			—			1,320
Net income	$	2,820		$	2,820		$	(2,820	)	$	2,820
Other comprehensive income (loss):
Foreign currency translation adjustment		—			1,324			—			1,324
Total comprehensive income (loss)	$	2,820		$	4,144		$	(2,820	)	$	4,144

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31, 2019

(Unaudited)

				VM
	Verra Mobility			Consolidated Inc.
	Corporation			(Guarantor
($ in thousands)	(Ultimate Parent)			Subsidiary)			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	2,820		$	2,820		$	(2,820	)	$	2,820
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		—			28,939			—			28,939
Amortization of deferred financing costs and discounts		—			1,833			—			1,833
Accretion expense		—			90			—			90
Write-downs of installation and service parts and (gain) loss on disposal of assets		—			3			—			3
Installation and service parts expense		—			257			—			257
Bad debt expense		—			1,270			—			1,270
Deferred income taxes		—			(1,073	)		—			(1,073	)
Loss (income) from equity investment		(2,820	)		—			2,820			—
Stock-based compensation		—			2,143			—			2,143
Changes in operating assets and liabilities:
Accounts receivable, net		—			(8,372	)		—			(8,372	)
Unbilled receivables		—			(3,797	)		—			(3,797	)
Prepaid expense and other current assets		—			(1,301	)		—			(1,301	)
Other assets		—			(226	)		—			(226	)
Accounts payable and accrued liabilities		—			18,413			—			18,413
Due to affiliates		—			—			—			—
Other liabilities		—			(3,648	)		—			(3,648	)
Net cash provided by operating activities		—			37,351			—			37,351
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of installation and service parts and property and equipment		—			(9,219	)		—			(9,219	)
Cash proceeds from the sale of assets and insurance recoveries		—			52			—			52
Net cash used in investing activities		—			(9,167	)		—			(9,167	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt		—			(2,276	)		—			(2,276	)
Payment of debt issuance costs		—			(37	)		—			(37	)
Net cash provided by (used in) financing activities		—			(2,313	)		—			(2,313	)
Effect of exchange rate changes on cash and cash equivalents		—			236			—			236
Net increase in cash, cash equivalents and restricted cash		—			26,107			—			26,107
Cash, cash equivalents and restricted cash - beginning of period		—			67,081			—			67,081
Cash, cash equivalents and restricted cash - end of period	$	—		$	93,188		$	—		$	93,188

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Continued)

Three Months Ended March 31, 2019

(Unaudited)

			VM
	Verra Mobility		Consolidated Inc.
	Corporation		(Guarantor
	(Ultimate Parent)		Subsidiary)			Eliminations		Consolidated
Supplemental cash flow information:
Interest paid	$	—	$	13,890		$	—	$	13,890
Income taxes paid (refunded), net		—		(4,710	)		—		(4,710	)
Supplemental non-cash investing and financing activities:
Non-cash additions (reductions) to ARO, property and equipment, and other		—		28			—		28
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period end		—		4,084			—		4,084

Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

16.

Subsequent Event

On April 26, 2019, the triggering event for the issuance of the first tranche of Earn-Out Shares to the Platinum Stockholder (see Note 12) occurred, as the volume weighted average closing price per share of the Company’s Class A Common Stock as of that date had been greater than $13.00 for 10 out of 20 consecutive trading days. This triggering event resulted in the issuance of 2.5 million shares of the Company’s common stock and will result in an increase in the Company’s common stock and additional paid-in capital accounts of $18.2 million, with a corresponding decrease to the common stock contingent consideration account.

Significant Accounting Principles and Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

Management believes that its estimates and assumptions are reasonable in the circumstances; however, actual results could differ materially from those estimates.

Recent Accounting Pronouncements

Accounting Standards Adopted

($ in thousands)
Cash and cash equivalents	$	15,703
Restricted cash		2,165
Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$	17,868

Revenue Recognition

Nature of goods and services

The following is a description of principal activities – separated by reportable segments – from which the Company generates revenue:

•

Remaining Performance Obligations

Significant judgments

Accounting Standards Not Yet Adopted

Significant Accounting Principles and Policies (Tables)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents and Restricted Cash [Table Text Block]

($ in thousands)
Cash and cash equivalents	$	15,703
Restricted cash		2,165
Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$	17,868

Merger and Acquisition (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Pro Forma Financial Information

The pro forma information includes adjustments to record the assets and liabilities associated with the Transactions at their respective fair values based on available information and to give effect to the financing for the Transactions.

	Three Months Ended
($ in thousands)	March 31, 2018
Revenue	$	88,462
Loss from operations		(2,201	)
Net loss before income tax benefit		(14,774	)
Net loss		(11,752	)
Loss per share - basic	$	(0.19	)

HTA Merger

Summary of Preliminary Allocation of Purchase Price

($ in thousands)
Assets acquired
Cash	$	2,996
Accounts receivable		10,220
Prepaid expense and other current assets		5,266
Installation and service parts		296
Property and equipment		996
Customer relationships		242,500
Developed technology		72,800
Non-compete agreements		48,500
Trademark		5,500
Goodwill		233,271
Total assets acquired		622,345
Liabilities assumed
Accounts payable and accrued expenses		14,268
Deferred tax liability		4,733
Total liabilities assumed		19,001
Total purchase price	$	603,344

EPC Merger

Summary of Preliminary Allocation of Purchase Price

The allocation of the purchase consideration is summarized as follows:

($ in thousands)
Assets acquired
Cash	$	9,029
Other assets		1,948
Trademark		1,100
Customer relationships		19,400
Developed technology		3,900
Goodwill		40,826
Total assets acquired		76,203
Liabilities assumed
Accounts payable and accrued expenses		8,995
Deferred tax liability		4,273
Total liabilities assumed		13,268
Total purchase price	$	62,935

Prepaid Expenses and Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019		December 31, 2018
Prepaid income taxes	$	248	$	1,562
Prepaid services		3,584		3,017
Prepaid tolls		10,375		8,434
Prepaid computer maintenance		2,515		1,709
Prepaid insurance		897		1,230
Deposits		873		839
Prepaid rent		490		406
Other		30		403
Total prepaid expenses and other current assets	$	19,012	$	17,600

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

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:

	Government		Commercial
($ in thousands)	Solutions		Services		Total
Balance at December 31, 2018	$	159,746	$	404,977	$	564,723
Foreign currency translation adjustment		—		873		873
Balance at March 31, 2019	$	159,746	$	405,850	$	565,596

Schedule of Intangible Assets of Respective Period Ends

Intangible assets consist of the following as of the respective period ends:

	March 31, 2019						December 31, 2018
	Weighted						Weighted
	Average	Gross					Average	Gross
	Remaining	Carrying			Accumulated		Remaining	Carrying			Accumulated
($ in thousands)	Useful Life	Amount			Amortization		Useful Life	Amount			Amortization
Trademarks	2.4 years	$	31,324		$	11,448	2.7 years	$	31,302		$	8,902
Non-compete agreements	3.8 years		62,100			15,495	4.0 years		62,100			12,390
Customer relationships	7.6 years		360,158			52,349	7.9 years		359,768			42,201
Developed technology	4.0 years		160,930			43,367	4.3 years		160,852			35,987
Gross carrying value of intangible assets			614,512		$	122,659			614,022		$	99,480
Less: accumulated amortization			(122,659	)					(99,480	)
Intangible assets, net		$	491,853					$	514,542

Estimated Amortization Expense in Future Years

Estimated amortization expense in future years is expected to be:

($ in thousands)
Remainder of 2019	$	69,159
2020		92,290
2021		83,998
2022		79,274
2023		50,813
2024		40,321
Thereafter		75,998
Total	$	491,853

Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Payables And Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following at:

($ in thousands)	March 31, 2019		December 31, 2018
Accrued salaries and wages	$	7,194	$	8,340
Restricted cash due to customers		1,704		2,033
Income taxes payable		6,002		862
Accrued interest payable		542		232
Advanced deposits payable		6,334		805
Gores equity infusion working capital adjustment payable to related party		6,205		—
Current portion of related party TRA liability		959		—
Deferred rent		477		523
Accrued sales commissions		387		463
Other		644		1,186
Total accrued liabilities	$	30,448	$	14,444

Debt (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019			December 31, 2018
First lien term loan, due February 28, 2025	$	901,248		$	903,524
Less: original issue discounts		(5,534	)		(5,819	)
Less: unamortized deferred financing costs		(26,842	)		(28,352	)
Total debt		868,872			869,353
Less: Current portion of long-term debt		(9,104	)		(9,104	)
Total long-term debt, net of current portion	$	859,768		$	860,249

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Carrying Value and Fair Value of Long-term Debt

The carrying value and fair value of our long-term debt is as follows:

Level in

March 31, 2019

December 31, 2018

Fair Value

Carrying

Estimated

Carrying

Estimated

($ in thousands)

Hierarchy

Amount

Fair Value

Amount

Fair Value

Long-term debt

868,872

905,754

869,353

889,971

Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of Components of Basic and Diluted Net Income (Loss) Per Share

The components of basic and diluted net income (loss) per share are as follows:

	Three Months Ended March 31,
(In thousands, except per share data)	2019		2018
Numerator:
Net income (loss)	$	2,820	$	(22,158	)
Denominator:
Weighted average shares - basic		156,057		62,501
Common stock equivalents		401		—
Weighted average shares - diluted		156,458		62,501
Net income (loss) per common share - basic	$	0.02	$	(0.35	)
Net income (loss) per common share - diluted	$	0.02	$	(0.35	)
Antidilutive shares excluded		30,086		20,000

Stock based compensation (Tables]

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Components of Stock based compensation

The following details the components of stock-based compensation for the three months ended March 31, 2019:

($ in thousands)
Operating expenses	$	204
Selling, general and administrative expenses		1,939
Total stock-based compensation expense	$	2,143

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Financial Information by Segment

The following tables set forth financial information by segment for the three months ended March 31, 2019 and March 31, 2018, respectively:

	For the three months ended March 31, 2019
	Government			Commercial			Corporate and
($ in thousands)	Solutions			Services			Other			Total
Service revenue	$	35,482		$	62,588		$	—		$	98,070
Product sales		391			—			—			391
Total revenue		35,873			62,588			—			98,461
Cost of service revenue		525			864			—			1,389
Cost of product sales		276			—			—			276
Operating expenses		14,038			15,096			—			29,134
Selling, general and administrative expenses		7,850			10,762			—			18,612
Other (income) expense, net		(37	)		(2,171	)		1			(2,207	)
Segment profit (loss)	$	13,221		$	38,037		$	(1	)	$	51,257
Segment profit (loss)	$	13,221		$	38,037		$	(1	)	$	51,257
Depreciation, amortization, impairment, and (gain) loss on disposal of assets, net		—			—			28,941			28,941
Stock-based compensation		—			—			2,143			2,143
Interest expense		—			—			16,033			16,033
Income (loss) before income tax provision	$	13,221		$	38,037		$	(47,118	)	$	4,140

	For the three months ended March 31, 2018
	Government			Commercial			Corporate and
($ in thousands)	Solutions			Services			Other			Total
Service revenue	$	36,559		$	32,447		$	—		$	69,006
Product sales		235			—			—			235
Total revenue		36,794			32,447			—			69,241
Cost of service revenue		654			177			—			831
Cost of product sales		172			—			—			172
Operating expenses		14,040			9,641			—			23,681
Selling, general and administrative expenses		6,122			21,594			5,560			33,276
Other (income) expense, net		(38	)		(1,288	)		33			(1,293	)
Segment profit (loss)	$	15,844		$	2,323		$	(5,593	)	$	12,574
Segment profit (loss)	$	15,844		$	2,323		$	(5,593	)	$	12,574
Depreciation, amortization, impairment, and (gain) loss on disposal of assets, net		—			—			18,544			18,544
Interest expense		—			—			12,647			12,647
Loss on extinguishment of debt		—			—			10,151			10,151
Income (loss) before income tax (benefit)	$	15,844		$	2,323		$	(46,935	)	$	(28,768	)

Guarantor/Non-Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019

(Unaudited)

			VM
	Verra Mobility		Consolidated Inc.
	Corporation		(Guarantor
($ in thousands)	(Ultimate Parent)		Subsidiary)		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	91,484	$	—		$	91,484
Restricted cash		—		1,704		—			1,704
Accounts receivable, net		—		94,630		—			94,630
Unbilled receivables		—		16,753		—			16,753
Investment in subsidiary		141,767		—		(141,767	)		—
Prepaid expenses and other current assets		—		19,012		—			19,012
Total current assets		141,767		223,583		(141,767	)		223,583
Installation and service parts, net		—		10,822		—			10,822
Property and equipment, net		—		71,686		—			71,686
Intangible assets, net		—		491,853		—			491,853
Goodwill		—		565,596		—			565,596
Due from affiliates		169,259		—		(169,259	)		—
Other non-current assets		—		2,072		—			2,072
Total assets	$	311,026	$	1,365,612	$	(311,026	)	$	1,365,612
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	—	$	52,239	$	—		$	52,239
Accrued liabilities		6,205		24,243		—			30,448
Current portion of long-term debt		—		9,104		—			9,104
Total current liabilities		6,205		85,586		—			91,791
Long-term debt, net of current portion and deferred financing costs		—		859,768		—			859,768
Other long-term liabilities		—		3,633		—			3,633
Payable related to tax receivable agreement				66,097		—			66,097
Due to affiliates		—		169,259		(169,259	)		—
Asset retirement obligation		—		6,855		—			6,855
Deferred tax liabilities		—		32,647		—			32,647
Total liabilities		6,205		1,223,845		(169,259	)		1,060,791
Total stockholders' equity		304,821		141,767		(141,767	)		304,821
Total liabilities and stockholders' equity	$	311,026	$	1,365,612	$	(311,026	)	$	1,365,612

Summary of Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

Three Months Ended March 31, 2019

(Unaudited)

				VM
	Verra Mobility			Consolidated Inc.
	Corporation			(Guarantor
($ in thousands)	(Ultimate Parent)			Subsidiary)			Eliminations			Consolidated
Service revenue	$	—		$	98,070		$	—		$	98,070
Product sales		—			391			—			391
Total revenue		—			98,461			—			98,461
Cost of service revenue		—			1,389			—			1,389
Cost of product sales		—			276			—			276
Operating expenses		—			29,338			—			29,338
Selling, general and administrative expenses		—			20,551			—			20,551
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net		—			28,941			—			28,941
Total costs and expenses		—			80,495			—			80,495
Income from operations		—			17,966			—			17,966
(Income) loss from equity investment		(2,820	)		—			2,820			—
Interest expense		—			16,033			—			16,033
Other income, net		—			(2,207	)		—			(2,207	)
Total other expense (income)		(2,820	)		13,826			2,820			13,826
Income (loss) before income tax (benefit) provision		2,820			4,140			(2,820	)		4,140
Income tax provision		—			1,320			—			1,320
Net income	$	2,820		$	2,820		$	(2,820	)	$	2,820
Other comprehensive income (loss):
Foreign currency translation adjustment		—			1,324			—			1,324
Total comprehensive income (loss)	$	2,820		$	4,144		$	(2,820	)	$	4,144

Summary of Condensed Consolidated Statements of Cash Flows

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31, 2019

(Unaudited)

				VM
	Verra Mobility			Consolidated Inc.
	Corporation			(Guarantor
($ in thousands)	(Ultimate Parent)			Subsidiary)			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	2,820		$	2,820		$	(2,820	)	$	2,820
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		—			28,939			—			28,939
Amortization of deferred financing costs and discounts		—			1,833			—			1,833
Accretion expense		—			90			—			90
Write-downs of installation and service parts and (gain) loss on disposal of assets		—			3			—			3
Installation and service parts expense		—			257			—			257
Bad debt expense		—			1,270			—			1,270
Deferred income taxes		—			(1,073	)		—			(1,073	)
Loss (income) from equity investment		(2,820	)		—			2,820			—
Stock-based compensation		—			2,143			—			2,143
Changes in operating assets and liabilities:
Accounts receivable, net		—			(8,372	)		—			(8,372	)
Unbilled receivables		—			(3,797	)		—			(3,797	)
Prepaid expense and other current assets		—			(1,301	)		—			(1,301	)
Other assets		—			(226	)		—			(226	)
Accounts payable and accrued liabilities		—			18,413			—			18,413
Due to affiliates		—			—			—			—
Other liabilities		—			(3,648	)		—			(3,648	)
Net cash provided by operating activities		—			37,351			—			37,351
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of installation and service parts and property and equipment		—			(9,219	)		—			(9,219	)
Cash proceeds from the sale of assets and insurance recoveries		—			52			—			52
Net cash used in investing activities		—			(9,167	)		—			(9,167	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt		—			(2,276	)		—			(2,276	)
Payment of debt issuance costs		—			(37	)		—			(37	)
Net cash provided by (used in) financing activities		—			(2,313	)		—			(2,313	)
Effect of exchange rate changes on cash and cash equivalents		—			236			—			236
Net increase in cash, cash equivalents and restricted cash		—			26,107			—			26,107
Cash, cash equivalents and restricted cash - beginning of period		—			67,081			—			67,081
Cash, cash equivalents and restricted cash - end of period	$	—		$	93,188		$	—		$	93,188

Verra Mobility Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Continued)

Three Months Ended March 31, 2019

(Unaudited)

			VM
	Verra Mobility		Consolidated Inc.
	Corporation		(Guarantor
	(Ultimate Parent)		Subsidiary)			Eliminations		Consolidated
Supplemental cash flow information:
Interest paid	$	—	$	13,890		$	—	$	13,890
Income taxes paid (refunded), net		—		(4,710	)		—		(4,710	)
Supplemental non-cash investing and financing activities:
Non-cash additions (reductions) to ARO, property and equipment, and other		—		28			—		28
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period end		—		4,084			—		4,084

Significant Accounting Principles and Policies - Schedule of Cash and Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 91,484	$ 65,048	$ 15,703
Restricted cash	$ 1,704	$ 2,033	2,165
Cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows			$ 17,868

Significant Accounting Principles and Policies - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended
	Jan. 01, 2019	Mar. 31, 2019
Minimum
Summary Of Significant Accounting Principles And Policies [Line Items]
Revenue remaining performance obligation contract period		3 years
Maximum
Summary Of Significant Accounting Principles And Policies [Line Items]
Revenue remaining performance obligation contract period		5 years
Accounting Standards Update 2014-09
Summary Of Significant Accounting Principles And Policies [Line Items]
Adjustment to reduce retained earnings	$ (0.3)
Accounting Standards Update 2014-09 \| Minimum
Summary Of Significant Accounting Principles And Policies [Line Items]
Average initial term of a contract		3 years
Accounting Standards Update 2014-09 \| Maximum
Summary Of Significant Accounting Principles And Policies [Line Items]
Average initial term of a contract		5 years

Significant Accounting Principles and Policies - Additional Information (Details1) - Accounting Standards Update 2014-09 - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-04-01 $ in Millions	Mar. 31, 2019 USD ($)
Summary Of Significant Accounting Principles And Policies [Line Items]
Remaining performance obligations	$ 0.3
Revenue recognition period	2 months

Merger and Acquisition - Additional Information (Details) - USD ($) $ in Thousands				3 Months Ended
	Apr. 06, 2018	Mar. 01, 2018	May 31, 2017	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Business Acquisition [Line Items]
Payable to related party for the recapitalization related to the working capital adjustment				$ 6,205
Decrease to the additional paid-in capital account				(6,205)
ATS Merger
Business Acquisition [Line Items]
Purchase price before adjustments			$ 550,000
Purchase price			548,200
Costs recognized related to merger			9,900
ATS Merger \| Acquisition Advisory Services
Business Acquisition [Line Items]
Costs recognized related to merger			8,000
ATS Merger \| Professional Fees And Other Expenses
Business Acquisition [Line Items]
Costs recognized related to merger			$ 1,900
HTA Merger
Business Acquisition [Line Items]
Purchase price		$ 603,300
Cash purchase price		525,000
Business combination adjustments		9,700
Payable to sellers for certain tax items		$ 11,300
Shares issued in acquisition		5.26
Shares issued in acquisition, fair value		$ 57,300
Enterprise value		2,100,000
Value of debt deducted		1,000,000
Equity value		1,100,000
Immaterial adjustments to the preliminary purchase price allocation resulting in net reduction to goodwill		$ (1,200)
HTA Merger \| Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Costs recognized related to the merger						$ 15,600
HTA Merger \| Acquisition Advisory Services
Business Acquisition [Line Items]
Costs recognized related to the merger						7,200
HTA Merger \| Professional Fees And Other Expenses
Business Acquisition [Line Items]
Costs recognized related to the merger						$ 8,400
HTA Merger \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets useful life		9 years
HTA Merger \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets useful life		5 years 6 months
HTA Merger \| Non-compete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets useful life		5 years
HTA Merger \| Trademarks
Business Acquisition [Line Items]
Identifiable intangible assets useful life		3 years
EPC Merger
Business Acquisition [Line Items]
Purchase price	$ 62,900
Business combination adjustments	$ 2,600
Shares issued in acquisition	5.54
Enterprise value	$ 2,100,000
Value of debt deducted	1,000,000
Equity value	$ 1,100,000
Costs recognized related to the merger					$ 3,000
EPC Merger \| Acquisition Advisory Services
Business Acquisition [Line Items]
Costs recognized related to the merger					2,500
EPC Merger \| Professional Fees And Other Expenses
Business Acquisition [Line Items]
Costs recognized related to the merger					$ 500
EPC Merger \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets useful life	10 years
EPC Merger \| Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets useful life	4 years 6 months
EPC Merger \| Trademarks
Business Acquisition [Line Items]
Identifiable intangible assets useful life	5 years
Platinum
Business Acquisition [Line Items]
Payable to related party for the recapitalization related to the working capital adjustment				6,200
Decrease to the additional paid-in capital account				(6,200)
Increase in accrued liabilities				$ 6,200

Merger and Acquisition - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Apr. 06, 2018	Mar. 01, 2018
Assets acquired
Goodwill	$ 565,596	$ 564,723
HTA Merger
Assets acquired
Cash				$ 2,996
Accounts receivable				10,220
Prepaid expense and other current assets				5,266
Installation and service parts				296
Property and equipment				996
Goodwill				233,271
Total assets acquired				622,345
Liabilities assumed
Accounts payable and accrued expenses				14,268
Deferred tax liability				4,733
Total liabilities assumed				19,001
Total purchase price				603,344
EPC Merger
Assets acquired
Cash			$ 9,029
Other assets			1,948
Goodwill			40,826
Total assets acquired			76,203
Liabilities assumed
Accounts payable and accrued expenses			8,995
Deferred tax liability			4,273
Total liabilities assumed			13,268
Total purchase price			62,935
Customer Relationships \| HTA Merger
Assets acquired
Intangible assets				242,500
Customer Relationships \| EPC Merger
Assets acquired
Intangible assets			19,400
Developed Technology \| HTA Merger
Assets acquired
Intangible assets				72,800
Developed Technology \| EPC Merger
Assets acquired
Intangible assets			3,900
Non-compete Agreements \| HTA Merger
Assets acquired
Intangible assets				48,500
Trademarks \| HTA Merger
Assets acquired
Intangible assets				$ 5,500
Trademarks \| EPC Merger
Assets acquired
Intangible assets			$ 1,100

Merger and Acquisition - Summary of Pro Forma Financial Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) $ / shares
Business Acquisition Pro Forma Information [Abstract]
Revenue	$ 88,462
Loss from operations	(2,201)
Net loss before income tax benefit	(14,774)
Net loss	$ (11,752)
Loss per share - basic \| $ / shares	$ (0.19)

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Prepaid Expense And Other Assets Current [Abstract]
Prepaid income taxes	$ 248	$ 1,562
Prepaid services	3,584	3,017
Prepaid tolls	10,375	8,434
Prepaid computer maintenance	2,515	1,709
Prepaid insurance	897	1,230
Deposits	873	839
Prepaid rent	490	406
Other	30	403
Total prepaid expenses and other current assets	$ 19,012	$ 17,600

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Goodwill [Line Items]
Balance	$ 564,723
Foreign currency translation adjustment	873
Balance	565,596
Government Solutions
Goodwill [Line Items]
Balance	159,746
Balance	159,746
Commercial Services
Goodwill [Line Items]
Balance	404,977
Foreign currency translation adjustment	873
Balance	$ 405,850

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, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 614,512	$ 614,022
Accumulated Amortization	122,659	99,480
Less: accumulated amortization	(122,659)	(99,480)
Intangible assets, net	$ 491,853	$ 514,542
Trademarks
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	2 years 4 months 24 days	2 years 8 months 12 days
Gross Carrying Amount	$ 31,324	$ 31,302
Accumulated Amortization	11,448	8,902
Less: accumulated amortization	$ (11,448)	$ (8,902)
Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	3 years 9 months 18 days	4 years
Gross Carrying Amount	$ 62,100	$ 62,100
Accumulated Amortization	15,495	12,390
Less: accumulated amortization	$ (15,495)	$ (12,390)
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	7 years 7 months 6 days	7 years 10 months 24 days
Gross Carrying Amount	$ 360,158	$ 359,768
Accumulated Amortization	52,349	42,201
Less: accumulated amortization	$ (52,349)	$ (42,201)
Developed Technology
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	4 years	4 years 3 months 18 days
Gross Carrying Amount	$ 160,930	$ 160,852
Accumulated Amortization	43,367	35,987
Less: accumulated amortization	$ (43,367)	$ (35,987)

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 23.1	$ 12.3

Goodwill and Intangible Assets - Estimated Amortization Expense in Future Years (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 69,159
2020	92,290
2021	83,998
2022	79,274
2023	50,813
2024	40,321
Thereafter	75,998
Total	$ 491,853

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Accrued salaries and wages	$ 7,194	$ 8,340
Restricted cash due to customers	1,704	2,033
Income taxes payable	6,002	862
Accrued interest payable	542	232
Advanced deposits payable	6,334	805
Gores equity infusion working capital adjustment payable to related party	6,205
Current portion of related party TRA liability	959
Deferred rent	477	523
Accrued sales commissions	387	463
Other	644	1,186
Total accrued liabilities	$ 30,448	$ 14,444

Debt - Summary of the Company's Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
First lien term loan, due February 28, 2025	$ 901,248	$ 903,524
Less: original issue discounts	(5,534)	(5,819)
Less: unamortized deferred financing costs	(26,842)	(28,352)
Total debt	868,872	869,353
Less: Current portion of long-term debt	(9,104)	(9,104)
Total long-term debt, net of current portion	$ 859,768	$ 860,249

Debt - Summary of the Company's Long-Term Debt (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2019
First Lien Term Loan, Due February 28, 2025
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 28, 2025

Debt - Additional Information (Details) - USD ($)		3 Months Ended
Debt - Additional Information (Details) - USD ($)	Oct. 17, 2018	Mar. 31, 2019	Mar. 31, 2018	Jul. 31, 2018
Debt Instrument [Line Items]
Outstanding letters of credit		$ 1,000,000
Debt instrument, periodic payment, interest rate		0.375%
Debt instrument fronting fees		$ 1,000,000
Debt Instrument, interest rate		1.38%
Debt instrument charge			$ 10,200,000
Debt instrument prepayment penalty			3,800,000
Write off of preexisting deferred financing costs			2,000,000
Third party costs associated with issuance			4,400,000
Interest expense including amortization of deferred financing costs and discounts		$ 16,033,000	12,647,000
Weighted average effective interest rates		6.25%
New First Lien Term Loan
Debt Instrument [Line Items]
Quarterly installments percentage of loan repayable		1.00%
Debt instrument, maturity date		Feb. 28, 2025
Debt instrument interest rate		6.25%
Mandatory prepayment percentage		0.00%
New First Lien Term Loan \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument interest rate per annum		3.75%
New First Lien Term Loan \| Base Rate
Debt Instrument [Line Items]
Debt instrument interest rate per annum		2.75%
New First Lien Term Loan \| Minimum
Debt Instrument [Line Items]
Excess cash flow percentage		25.00%
Net leverage ratio		320.00%
New First Lien Term Loan \| Maximum
Debt Instrument [Line Items]
Excess cash flow percentage		50.00%
Net leverage ratio		370.00%
New Revolver
Debt Instrument [Line Items]
Outstanding borrowings		$ 0
Debt instrument borrow under new revolver		70,000,000
Outstanding letters of credit		$ 1,000,000
New Revolver \| LIBOR 1.25%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		1.25%
New Revolver \| LIBOR 1.50%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		1.50%
New Revolver \| LIBOR 1.75%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		1.75%
New Revolver \| Base Rate 0.25%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		0.25%
New Revolver \| Base Rate 0.50%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		0.50%
New Revolver \| Base Rate 0.75%
Debt Instrument [Line Items]
Debt instrument interest rate per annum		0.75%
2017 Credit Facilities
Debt Instrument [Line Items]
Outstanding borrowings			490,000,000
Debt instrument, aggregate principal amount			450,000,000
Aggregate revolving commitment			40,000,000
2018 Credit Facilities
Debt Instrument [Line Items]
Outstanding borrowings			1,115,000,000
Debt instrument, aggregate principal amount			1,040,000,000
Aggregate revolving commitment			75,000,000
2018 Credit Facilities \| Old Term Loans
Debt Instrument [Line Items]
Outstanding credit line			323,400,000
2018 Credit Facilities \| Old Term Loans
Debt Instrument [Line Items]
Outstanding credit line			$ 125,000,000
2018 Credit Facilities \| New First Lien Term Loan
Debt Instrument [Line Items]
Consent fee				$ 400,000
2018 Credit Facilities \| New First Lien Term Loan \| Minimum
Debt Instrument [Line Items]
Debt instrument, face amount				840,000,000
2018 Credit Facilities \| New First Lien Term Loan \| Maximum
Debt Instrument [Line Items]
Debt instrument, face amount				$ 910,000,000
2018 Credit Facilities \| New Second Lien Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 200,000,000
Additional repayments of lines of credit	$ 70,000,000

Fair Value Measurments - Carrying Value and Fair Value of Long-term Debt (Details) - Level 2 - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Amount
Debt Instrument [Line Items]
Long-term debt	$ 868,872	$ 869,353
Estimated Fair Value
Debt Instrument [Line Items]
Long-term debt	$ 905,754	$ 889,971

Net Income (Loss) Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share	30,086,000	20,000,000
Warrants
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share	19,999,967	19,999,967
Contingently Issuable Shares
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share	10,000,000
Restricted Stock Units
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share	86,106

Net Income (Loss) Per Share - Schedule of Components of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income (loss)	$ 2,820	$ (22,158)
Denominator:
Weighted average shares - basic	156,057,000	62,501,000
Common stock equivalents	401,000
Weighted average shares - diluted	156,458,000	62,501,000
Net income (loss) per common share - basic	$ 0.02	$ (0.35)
Net income (loss) per common share - diluted	$ 0.02	$ (0.35)
Antidilutive shares excluded	30,086,000	20,000,000

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax [Line Items]
Effective tax rate	31.90%	(23.00%)
Unrecognized tax benefits	$ 2.7
Unrecognized tax benefits, if recognized	2.5
Accrued interest and penalties	$ 0.8
Earliest \| Internal Revenue Service
Income Tax [Line Items]
Income Tax Examination, Year under Examination	2015
Earliest \| State of Maryland Compliance Division
Income Tax [Line Items]
Income Tax Examination, Year under Examination	2015
Earliest \| Other States
Income Tax [Line Items]
Income Tax Examination, Year under Examination	2014
Latest \| Internal Revenue Service
Income Tax [Line Items]
Income Tax Examination, Year under Examination	2018
Latest \| State of Maryland Compliance Division
Income Tax [Line Items]
Income Tax Examination, Year under Examination	2017
Latest \| Other States
Income Tax [Line Items]
Income Tax Examination, Year under Examination	2018

Stock-based Compensation - Components of Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,143	$ 0
Operating Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	204
Selling, General and Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,939

Stock-based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock compensation amount	$ 2,143	$ 0

Related Party Transactions - Additional Information (Details) $ / shares in Units, $ in Thousands		3 Months Ended
	Jan. 07, 2019 USD ($)	Mar. 31, 2019 USD ($) yr $ / shares shares	Dec. 31, 2018 USD ($)	Oct. 17, 2018 USD ($)
Related Party Transaction [Line Items]
Estimated maximum benefit to be paid to tax receivable agreement \| $		$ 66,097	$ 69,996
Platinum Stockholder
Related Party Transaction [Line Items]
Advisory services fee \| $	$ 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		$ 13.00
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
Platinum Stockholder \| Earn-Out Agreement \| Common Stock Price Greater than $18.00
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met \| shares		2,500,000
Common stock price \| $ / shares		$ 18.00
Platinum Stockholder \| Earn-Out Agreement \| Common Stock Price Greater than $20.50
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met \| shares		2,500,000
Common stock price \| $ / shares		$ 20.50
Platinum Stockholder \| Earn-Out Agreement \| Earn-Out Scenario Five
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met \| shares		0
Maximum \| Platinum Stockholder \| Earn-Out Agreement
Related Party Transaction [Line Items]
Earn-out shares issuable if condition met \| shares		10,000,000
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
Contingent consideration \| $				$ 70,000
Tax receivable agreement, amount paid \| $		$ 66,000
Contingency period		5 years
Verra Mobility Business Combination \| Platinum Stockholder \| Earn-Out Agreement
Related Party Transaction [Line Items]
Contingent consideration \| $		$ 73,150
Term of volatility and risk free rates utilizing a peer group \| yr		5
Verra Mobility Business Combination \| Minimum
Related Party Transaction [Line Items]
Common stock price threshold trading days		10 days
Verra Mobility Business Combination \| Maximum
Related Party Transaction [Line Items]
Common stock price threshold trading days		20 days

Commitment and Contingencies - Additional Information (Details) $ in Millions	Mar. 31, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Letters of Credit Outstanding	$ 1.0
Non-cancelable purchase commitments outstanding	$ 16.5

Segment Reporting - Additional Information (Details)	3 Months Ended
Segment Reporting - Additional Information (Details)	Mar. 31, 2019 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Reporting - Financial Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 98,461	$ 69,241
Operating expenses	29,134	23,681
Selling, general and administrative expenses	18,612	33,276
Other income, net	(2,207)	(1,293)
Segment profit (loss)	17,966	(7,263)
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net	28,941	18,544
Stock-based compensation	2,143
Interest expense	16,033	12,647
Loss on extinguishment of debt		10,151
Income (loss) before income tax (benefit) provision	4,140	(28,768)
Service Revenue
Segment Reporting Information [Line Items]
Total revenue	98,070	69,006
Cost of revenue	1,389	831
Product Sales
Segment Reporting Information [Line Items]
Total revenue	391	235
Cost of revenue	276	172
Operating Segments
Segment Reporting Information [Line Items]
Segment profit (loss)	51,257	12,574
Operating Segments \| Government Solutions
Segment Reporting Information [Line Items]
Total revenue	35,873	36,794
Operating expenses	14,038	14,040
Selling, general and administrative expenses	7,850	6,122
Other income, net	(37)	(38)
Segment profit (loss)	13,221	15,844
Income (loss) before income tax (benefit) provision	13,221	15,844
Operating Segments \| Commercial Services
Segment Reporting Information [Line Items]
Total revenue	62,588	32,447
Operating expenses	15,096	9,641
Selling, general and administrative expenses	10,762	21,594
Other income, net	(2,171)	(1,288)
Segment profit (loss)	38,037	2,323
Income (loss) before income tax (benefit) provision	38,037	2,323
Operating Segments \| Service Revenue \| Government Solutions
Segment Reporting Information [Line Items]
Total revenue	35,482	36,559
Cost of revenue	525	654
Operating Segments \| Service Revenue \| Commercial Services
Segment Reporting Information [Line Items]
Total revenue	62,588	32,447
Cost of revenue	864	177
Operating Segments \| Product Sales \| Government Solutions
Segment Reporting Information [Line Items]
Total revenue	391	235
Cost of revenue	276	172
Corporate and Other
Segment Reporting Information [Line Items]
Selling, general and administrative expenses		5,560
Other income, net	1	33
Segment profit (loss)	(1)	(5,593)
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net	28,941	18,544
Stock-based compensation	2,143
Interest expense	16,033	12,647
Loss on extinguishment of debt		10,151
Income (loss) before income tax (benefit) provision	$ (47,118)	$ (46,935)

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 91,484	$ 65,048	$ 15,703
Restricted cash	1,704	2,033	2,165
Accounts receivable, net	94,630	87,511
Unbilled receivables	16,753	12,956
Prepaid expenses and other current assets	19,012	17,600
Total current assets	223,583	185,148
Installation and service parts, net	10,822	9,282
Property and equipment, net	71,686	69,243
Intangible assets, net	491,853	514,542
Goodwill	565,596	564,723
Other non-current assets	2,072	1,845
Total assets	1,365,612	1,344,783
Current liabilities:
Accounts payable	52,239	45,188
Accrued liabilities	30,448	14,444
Current portion of long-term debt	9,104	9,104
Total current liabilities	91,791	68,736
Long-term debt, net of current portion and deferred financing costs	859,768	860,249
Other long-term liabilities	3,633	3,369
Payable related to tax receivable agreement	66,097	69,996
Asset retirement obligation	6,855	6,750
Deferred tax liabilities	32,647	33,627
Total liabilities	1,060,791	1,042,727
Total stockholders' equity	304,821	302,056	$ 182,377	$ 147,264
Total liabilities and stockholders' equity	1,365,612	$ 1,344,783
Verra Mobility Corporation (Ultimate Parent)
Current assets:
Investment in subsidiary	141,767
Total current assets	141,767
Due from affiliates	169,259
Total assets	311,026
Current liabilities:
Accrued liabilities	6,205
Total current liabilities	6,205
Total liabilities	6,205
Total stockholders' equity	304,821
Total liabilities and stockholders' equity	311,026
VM Consolidated Inc. (Guarantor Subsidiary)
Current assets:
Cash and cash equivalents	91,484
Restricted cash	1,704
Accounts receivable, net	94,630
Unbilled receivables	16,753
Prepaid expenses and other current assets	19,012
Total current assets	223,583
Installation and service parts, net	10,822
Property and equipment, net	71,686
Intangible assets, net	491,853
Goodwill	565,596
Other non-current assets	2,072
Total assets	1,365,612
Current liabilities:
Accounts payable	52,239
Accrued liabilities	24,243
Current portion of long-term debt	9,104
Total current liabilities	85,586
Long-term debt, net of current portion and deferred financing costs	859,768
Other long-term liabilities	3,633
Payable related to tax receivable agreement	66,097
Due to affiliates	169,259
Asset retirement obligation	6,855
Deferred tax liabilities	32,647
Total liabilities	1,223,845
Total stockholders' equity	141,767
Total liabilities and stockholders' equity	1,365,612
Eliminations
Current assets:
Investment in subsidiary	(141,767)
Total current assets	(141,767)
Due from affiliates	(169,259)
Total assets	(311,026)
Current liabilities:
Due to affiliates	(169,259)
Total liabilities	(169,259)
Total stockholders' equity	(141,767)
Total liabilities and stockholders' equity	$ (311,026)

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Statement Of Income Captions [Line Items]
Total revenue	$ 98,461	$ 69,241
Operating expenses	29,338	23,681
Selling, general and administrative expenses	20,551	33,276
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net	28,941	18,544
Total costs and expenses	80,495	76,504
Income (loss) from operations	17,966	(7,263)
Interest expense	16,033	12,647
Other income, net	(2,207)	(1,293)
Total other expense (income)	13,826	21,505
Income (loss) before income tax (benefit) provision	4,140	(28,768)
Income tax provision	1,320	(6,610)
Net income (loss)	2,820	(22,158)
Other comprehensive income (loss):
Foreign currency translation adjustment	1,324
Total comprehensive income (loss)	4,144	(22,158)
Verra Mobility Corporation (Ultimate Parent)
Condensed Statement Of Income Captions [Line Items]
(Income) loss from equity investment	(2,820)
Total other expense (income)	(2,820)
Income (loss) before income tax (benefit) provision	2,820
Net income (loss)	2,820
Other comprehensive income (loss):
Total comprehensive income (loss)	2,820
VM Consolidated Inc. (Guarantor Subsidiary)
Condensed Statement Of Income Captions [Line Items]
Total revenue	98,461
Operating expenses	29,338
Selling, general and administrative expenses	20,551
Depreciation, amortization, impairment and (gain) loss on disposal of assets, net	28,941
Total costs and expenses	80,495
Income (loss) from operations	17,966
Interest expense	16,033
Other income, net	(2,207)
Total other expense (income)	13,826
Income (loss) before income tax (benefit) provision	4,140
Income tax provision	1,320
Net income (loss)	2,820
Other comprehensive income (loss):
Foreign currency translation adjustment	1,324
Total comprehensive income (loss)	4,144
Eliminations
Condensed Statement Of Income Captions [Line Items]
(Income) loss from equity investment	2,820
Total other expense (income)	2,820
Income (loss) before income tax (benefit) provision	(2,820)
Net income (loss)	(2,820)
Other comprehensive income (loss):
Total comprehensive income (loss)	(2,820)
Service Revenue
Condensed Statement Of Income Captions [Line Items]
Total revenue	98,070	69,006
Cost of revenue	1,389	831
Service Revenue \| VM Consolidated Inc. (Guarantor Subsidiary)
Condensed Statement Of Income Captions [Line Items]
Total revenue	98,070
Cost of revenue	1,389
Product Sales
Condensed Statement Of Income Captions [Line Items]
Total revenue	391	235
Cost of revenue	276	$ 172
Product Sales \| VM Consolidated Inc. (Guarantor Subsidiary)
Condensed Statement Of Income Captions [Line Items]
Total revenue	391
Cost of revenue	$ 276

Guarantor/Non-Guarantor Financial Information - Summary of Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 2,820	$ (22,158)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	28,939	18,550
Amortization of deferred financing costs and discounts	1,833
Accretion expense	90	97
Write-downs of installation and service parts and (gain) loss on disposal of assets	3	(6)
Installation and service parts expense	257	125
Bad debt expense	1,270	1,140
Deferred income taxes	(1,073)	(6,805)
Stock-based compensation	2,143
Changes in operating assets and liabilities:
Accounts receivable, net	(8,372)	(3,614)
Unbilled receivables	(3,797)	(4,171)
Prepaid expense and other current assets	(1,301)	(1,138)
Other assets	(226)	(576)
Accounts payable and accrued liabilities	18,413	3,452
Other liabilities	(3,648)	113
Net cash provided by (used in) operating activities	37,351	(3,196)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of installation and service parts and property and equipment	(9,219)	(5,885)
Cash proceeds from the sale of assets and insurance recoveries	52	185
Net cash used in investing activities	(9,167)	(537,441)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	(2,276)	(448,375)
Payment of debt issuance costs	(37)	(29,242)
Net cash provided by (used in) financing activities	(2,313)	547,996
Effect of exchange rate changes on cash and cash equivalents	236
Net increase in cash, cash equivalents and restricted cash	26,107	7,359
Cash, cash equivalents and restricted cash - beginning of period	67,081	10,509
Cash, cash equivalents and restricted cash - end of period	93,188	17,868
Supplemental cash flow information:
Interest paid	13,890	5,745
Income taxes paid (refunded), net	(4,710)	321
Supplemental non-cash investing and financing activities:
Non-cash additions (reductions) to ARO, property and equipment, and other	28
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period end	4,084	$ 3,009
Verra Mobility Corporation (Ultimate Parent)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	2,820
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss (income) from equity investment	(2,820)
VM Consolidated Inc. (Guarantor Subsidiary)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	2,820
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	28,939
Amortization of deferred financing costs and discounts	1,833
Accretion expense	90
Write-downs of installation and service parts and (gain) loss on disposal of assets	3
Installation and service parts expense	257
Bad debt expense	1,270
Deferred income taxes	(1,073)
Stock-based compensation	2,143
Changes in operating assets and liabilities:
Accounts receivable, net	(8,372)
Unbilled receivables	(3,797)
Prepaid expense and other current assets	(1,301)
Other assets	(226)
Accounts payable and accrued liabilities	18,413
Other liabilities	(3,648)
Net cash provided by (used in) operating activities	37,351
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of installation and service parts and property and equipment	(9,219)
Cash proceeds from the sale of assets and insurance recoveries	52
Net cash used in investing activities	(9,167)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	(2,276)
Payment of debt issuance costs	(37)
Net cash provided by (used in) financing activities	(2,313)
Effect of exchange rate changes on cash and cash equivalents	236
Net increase in cash, cash equivalents and restricted cash	26,107
Cash, cash equivalents and restricted cash - beginning of period	67,081
Cash, cash equivalents and restricted cash - end of period	93,188
Supplemental cash flow information:
Interest paid	13,890
Income taxes paid (refunded), net	(4,710)
Supplemental non-cash investing and financing activities:
Non-cash additions (reductions) to ARO, property and equipment, and other	28
Purchases of installation and service parts and property and equipment in accounts payable and accrued liabilities at period end	4,084
Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(2,820)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss (income) from equity investment	$ 2,820

Subsequent Events - Additional Information (Details) - Platinum Stockholder - Earn-Out Agreement - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Apr. 26, 2019	Mar. 31, 2019
Maximum
Subsequent Event [Line Items]
Earn-out shares issuable if condition met		10,000,000
Common Stock Price Greater than $13.00
Subsequent Event [Line Items]
Common stock price		$ 13.00
Earn-out shares issuable if condition met		2,500,000
Common Stock Price Greater than $13.00 \| Subsequent Events
Subsequent Event [Line Items]
Earn-out shares issuable if condition met	2,500,000
Common Stock Price Greater than $13.00 \| Subsequent Events \| Class A Common Stock
Subsequent Event [Line Items]
Common stock price	$ 13.00
Common Stock Price Greater than $13.00 \| Subsequent Events \| Class A Common Stock \| Minimum
Subsequent Event [Line Items]
Common stock price threshold trading days	10 days
Common Stock Price Greater than $13.00 \| Subsequent Events \| Class A Common Stock \| Maximum
Subsequent Event [Line Items]
Common stock price threshold trading days	20 days
Common Stock Price Greater than $13.00 \| Subsequent Events \| Common stock and Additional paid-in capital
Subsequent Event [Line Items]
Earn-out shares issued value	$ 18.2
Common Stock Price Greater than $13.00 \| Subsequent Events \| Common Stock Contingent Consideration
Subsequent Event [Line Items]
Earn-out shares issued value	$ (18.2)