Updated
The most significant concentration Verra Mobility discloses is top-3 Commercial Services customers at 34.8%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Verra Mobility’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Three of our Commercial Services customers collectively accounted for 34.8% and 36.0% of our total revenues for the years ended December 31, 2025 and 2024, respectively.'”
“10-K Item 1A: 'NYCDOT represented approximately 17.9% and 15.8% of our total revenues for the years ended December 31, 2025 and 2024, respectively.'”
The company's concentration profile is customer-driven, with two dependency exposures at different levels of materiality. Three Commercial Services customers collectively accounted for 34.8% of total revenues in 2025 — a moderate-share exposure by disclosed size, dependency in character. The filing also notes that for 2024, the same group accounted for 36.0%, suggesting the dependency has been consistent rather than transient. Separately, NYCDOT represented approximately 17.9% of total revenues for 2025 — a small-share exposure, also dependency in character. NYCDOT is a government agency counterparty, which adds a layer of contract renewal risk tied to public-sector budgeting and program decisions rather than purely commercial dynamics. The two exposures partially overlap in their implications: the three-customer Commercial Services group is the dominant revenue cluster, and NYCDOT is one named constituent within (or alongside) that group, illustrating how the top-customer concentration is not evenly distributed — one agency is already visible as a meaningful individual counterparty within an already-concentrated customer set. There is no disclosed geographic or supply-chain concentration layered on top. On balance, the revenue base is moderately concentrated at the customer level, with the three-customer group and specifically NYCDOT representing the primary dependency monitoring points — contract renewal terms and government program continuity for the public-sector relationships being the most event-driven risk factors.
For the engine’s reasoning on VRRM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CACI | CACI International, Inc. | 3 | 1 | 0 | 4 |
| BBAI | BigBear.ai, Inc. | 1 | 1 | 0 | 2 |
| VRRM● | Verra Mobility Corporation | 0 | 1 | 1 | 2 |
| ACN | Accenture plc | 0 | 0 | 0 | 0 |
| APLD | Applied Digital Corporation | 0 | 0 | 0 | 0 |
| BR | Broadridge Financial Solutions, | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.