MESA, Ariz., Nov. 21, 2025 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced it is in the process of exiting Ontario after the province enacted legislation banning automated speed enforcement cameras. Exiting Ontario was not a decision that Verra Mobility made; instead, it was mandated by provincial law that overrides municipalities' ability to use speed cameras, effective November 14, 2025.
Despite strong public support and requests from local officials to maintain automated speed enforcement programs, the provincial government fast-tracked the legislative process, limiting debate and skipping public hearings before the legislation was passed.
While Verra Mobility respects the legislative process, it stands firmly behind the proven effectiveness of speed cameras in improving road safety. These programs have consistently reduced speeding, prevented crashes and saved lives, especially in vulnerable locations such as school zones.
Local research proving their effectiveness was also ignored: a study by the Hospital for Sick Children (SickKids) and Toronto Metropolitan University found speed cameras reduced speeding by 45% in Toronto school zones, and vehicles traveling 20 km/h or more over the limit dropped by 88%.
"Communities across Ontario have shown strong support for automated speed enforcement because it works," said Jon Baldwin, executive vice president at Verra Mobility. "We will comply with the law, but this decision takes away a proven safety tool that 73% of Ontario drivers supported."
The financial impact of exiting Ontario is expected to result in approximately $7 million in lost annual revenue. The revenue impact was factored into the company's 2026 preliminary consolidated outlook as presented during the third quarter earnings call on October 29, 2025, and the company is not adjusting its 2026 preliminary consolidated outlook as a result of exiting Ontario.
Verra Mobility thanks its municipal partners and Ontario residents for their trust and collaboration over the years and will continue to advocate for evidence-based solutions that make roads safer for everyone.
About Verra Mobility
Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter, and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data, and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility, and support healthier communities. The company also solves complex payment, utilization, and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe and Australia. For more information, please visit www.verramobility.com.
Forward Looking Statements
We describe initiatives that drive our business and future results in this press release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future, including the expected impact of exiting Ontario on the company's 2026 preliminary consolidated outlook. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. These forward-looking statements should be considered in light of the information included in this press release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.
Additional Information
We periodically provide information for investors on our corporate website, www.verramobility.com, and our investor relations website, ir.verramobility.com.
We intend to use our website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our website, in addition to following the company's press releases, SEC filings, and public conference calls and webcasts.
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SOURCE Verra Mobility
